Dynamic Fibonacci Grid, Fx Money Map - page 8
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Whoever is interested in this method may like to try the attached indicator.
It is more accurate and close to the original. I also atached a gif to show how it looks on the chart.
DojiHi,
Thanks for making this indicator. It looks like a good copy. How did you arrive at the values for the levels and the MA's?
Did you match them to align with the real one? Or did you pick them by trial and experiment.
Thanks for you excellent programming.
By the way, the original traderhouse version is based on this system, (which traderhouse used to sell).
http://www.iirgroup.com/pal/index.html
Pronet is what Moneymap is based on.
The fib bands and that selection of ma's.
I thought Traderhouse invented the system (well as much as anyone could invent a bunch of ma's)
But looks like they took the idea off Pronet
Mart
Pronet is what Moneymap is based on.
The fib bands and that selection of ma's.
I thought Traderhouse invented the system (well as much as anyone could invent a bunch of ma's)
But looks like they took the idea off Pronet
MartThats right , they did take some of the idea. I went to traderhouse a bout two and a half years ago and trained with the pronet system. (It was VERY expensive!) The only good part was that there were many good traders there and I did learn good stuff from them. However the subscription was far too expensive.
They used to determine the fibo levels from 1min, 5min, 15min and 1Hr charts on the pronet and then sketch them all out by hand on a piece of paper. This was the basis of the multi-time frame analysis of support and resistance. Some people there made a lot of money using this method. However it was very fiddly. Andy Sherman employed a programmer to write the FX Money map application and now sells that instead along with a data feed and an integrated deal with a broker.
The fee does include daily live webinars, old ones are here
http://www.fxmoneymap.com/Pages/PastWebinar.htm
I have sat in the dealing room at traderhouse many times and watched people trade 5 lots with this system and make a lot of cash. However for those of you, (like me), with mini accounts it would be better to refine the metatrader clone posted here.
I could not afford the monthly subscription.
It would be nice to know what the actual values of the SMA and support band gaps are in the pronet / FX moneymap.
I would like to have the shaded price tunnel that gets drawn on the graph, (like on Pronet), but I have no idea how to program it. Any bright sparks reading this please offer your suggestions.
My conclusion is that multi-time frame support and resistance is very important in trading. In this forum we have many clever and excellent indicators that show different forms of trend momentum in multi- time frames. There has collectivity been some tremendous examples of this. If a multi-time frame support and resistance indicator could be really refined we would have a very powerful trading tool.
What do You all think?
p.s. I am not a great programmer so I am not able to code one off in a couple of days, otherwise I would, sorry.
Band shades and SMA values
OK, let me clear some things up. The money map band sma values are the following:
7 sma's calculated for the following periods:
21, 34, 55, 75, 100, 144, 233
ifxgauge ma's indicator posted in this thread has the correct sma's MM uses.
The band shades values are incorrect. They are the following:
8, 11, 16, 27, 43, 75, 100, 144.
Band shades are calculated in the following way:
To the upside:
Lowest sma plus 8 gives you bsl up 0 bar, or the border b/n the white band, and the the lightest blue band. The white band is neutral, once we break the white band and go into the first light blue band we have an upside bias.
Lowest sma plus 8+11 gives you the next band level, or bsl up 1 bar.
Lowest sma plus 8+11+16 gives you the next band level, or bsl up 2 bar.
Lowest sma plus 8+11+16+27 gives you the next band level, or bsl up 3 bar.
Etcetera, etcetera.
The band shade levels to the downside is the opposite.
Now, there are some rules for overlapping of levels to the downside and upside that I don't know, but whoever programmed the indicator has it right. Or at least it seems to me that they are right.
I have attached the corrected indicator. I am fairly certain it is the exact copy of MM, the sma's indicator is correct. Can somebody fix the indicator so it shows the whole grid. For ex right now it is not showing the values of cable to the downside on 15 min and 1 hour.
One way to trade the indicator is what I posted in post #8, another is the rules for "clear roads" that seem very vague to me. Another rule is to wait for a break out of the bundle of sma's on 15 min and 1hour simultaneously and enter with a target the next cluster of resistances, etc, etc.
I have developed my own system that I trade, and I don't use this idea anymore for the simple reason that I don't have a clear idea of how to set my s/l, target, etc.
mpower,
If you would like for someone to look at fixing part of the indicator, you would need to post the mq4 file and not the ex4 file.
mq4 file
Sorry, my bad
OK, let me clear some things up. The money map band sma values are the following:
7 sma's calculated for the following periods:
21, 34, 55, 75, 100, 144, 233
ifxgauge ma's indicator posted in this thread has the correct sma's MM uses.
The band shades values are incorrect. They are the following:
8, 11, 16, 27, 43, 75, 100, 144.
Band shades are calculated in the following way:
To the upside:
Lowest sma plus 8 gives you bsl up 0 bar, or the border b/n the white band, and the the lightest blue band. The white band is neutral, once we break the white band and go into the first light blue band we have an upside bias.
Lowest sma plus 8+11 gives you the next band level, or bsl up 1 bar.
Lowest sma plus 8+11+16 gives you the next band level, or bsl up 2 bar.
Lowest sma plus 8+11+16+27 gives you the next band level, or bsl up 3 bar.
Etcetera, etcetera.
The band shade levels to the downside is the opposite.
Now, there are some rules for overlapping of levels to the downside and upside that I don't know, but whoever programmed the indicator has it right. Or at least it seems to me that they are right.
I have attached the corrected indicator. I am fairly certain it is the exact copy of MM, the sma's indicator is correct. Can somebody fix the indicator so it shows the whole grid. For ex right now it is not showing the values of cable to the downside on 15 min and 1 hour.
One way to trade the indicator is what I posted in post #8, another is the rules for "clear roads" that seem very vague to me. Another rule is to wait for a break out of the bundle of sma's on 15 min and 1hour simultaneously and enter with a target the next cluster of resistances, etc, etc.
I have developed my own system that I trade, and I don't use this idea anymore for the simple reason that I don't have a clear idea of how to set my s/l, target, etc.Thanks mpower, this is very interesting and helpful.
Hello mpower... thank you for sharing... I found you via Igor's thread... wanted to start with his TSR... and got scupped by your post to your old thread... FX MoneyMap--dynamic fibs trading... https://www.mql5.com/en/forum/173744
I red your thread... downloaded your latest indicators... _i_FXGauge1.mq4 and _i_FXGaugeMAs.mq4 ... [they are not EAs, are they...?]... red your manual... and other instructions... and am still in trouble... I have no numbers on the grid... or fibo as per the Post #7 and attached .jpg by Foreverold...
What an I doing wrong see attached]... could you please help... Thanks!
Okay... now my GRID is totally out of wack... H1 traffic lane is only visible half way above the bottom of my screen... and other are out of alignment...
also, I do not have any "cars" numbers appearing on the H1, M30, M15 and M5 lanes... I removed the indicator from MT4... uploaded again but still the same problem...
BTW: I finally got to watch the videos... and red the originator's web site... now I understand what 4PMA and GRID is...
... a great tool... if only someone here could help me with understanding the 4PMA/GRID created by Doji Starr and the modifications you mPower have implemented...
as you see there are no price numbers [cars] on the lanes... and no MIDDLE horizontal line separating North and South traffic... ??? also, there are no green and red BOXES that represent Support and Resistance points on each time frame's traffic lane... ???
Please help, thanks.
Hmmmmmmmmmmmmm, has everyone stopped using this tool?
I forgot all about it, I usually trade 1 hour frame using Brain Trend, but this is a great tool if you know how to use it. Anyone want to keep working on this??