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Forex Freeway - page 21

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I've received a pm today regarding FF, but I thought I'd post it here with my reply, because more peeps might benefit from it:

ValeoFX:
Hi Daniel,

As you are aware, I trade the "XO-method" but I am so intrigued with this method and it makes sense on top of it. My problem is that I don't know when to take the trade, so I combine it with the "XO-signal" and if all the Freeways are in the same colour, I trade it with more comfort / confidence.

The Indicator I have been using is the first version of Forex_Freeway. However, I changed it as follows as i could not understand the way it was set-up in the first place.

My settings now are: 5m / 15m/ 30m/ 60m.

First Column CCI @ 34 and every other one thereafter @ 14.

I selected TYPICAL price and MODE_SMA as per the normal CCI settings.

MA and Fib lenghts started @ 8 / 13/ 21/ 34/ 55/ 89/ 144.

It seems to work very well now that I have finally got these numbers sorted out. However, I would like to hear from someone like you, what you see as an entry by just using this method.

Thank you ever so much for replying to me. Best personal wishes.
That's a very interesting approach, as the 34MA is considered an S/R line, 14 period CCI is used as the generally traded indicator all around the world, so it all seems logical. I guess, you'd need to ask yourself the question, what will you be using it for: entry or trend confirmation. Your approach is new to me. I've used FF for trend direction, actually, the fourth column only. To many, the 50period CCI is the trend CCI. What I've noticed was that for trading the 5min chart, the 50 period MA goes right through any consolidation the market could be in, and the MM that I use for entry doesn't have a chance to develop an entry, because the price just keeps flicking about the zero line of the CCI. I'm not using the FF for trend anymore at least until I figure out how to set it to calculate it's values from the smoothed MA. I'm using the 100 period smoothed MA for trend now and try to play the proper risk to reward game to reduce the losses on any counter trend trades.

Can you let me know whether you have better success with freeway 1 or freeway 2? I like the look of the original if you look at eur/jpy 142.95 - 143.00at the moment there is support across all 4 times from 15 to 240. I wonder if it will hold as the channels are all red. When i watched the original video I thought this was the way they used it?

Seems a very good indicator for momentum.

gordon

DanielTyrkiel:
I've received a pm today regarding FF, but I thought I'd post it here with my reply, because more peeps might benefit from it:

Thanks for this posting as this is what I was trying to achieve also.

[Deleted]
gordon:
Can you let me know whether you have better success with freeway 1 or freeway 2? I like the look of the original if you look at eur/jpy 142.95 - 143.00at the moment there is support across all 4 times from 15 to 240. I wonder if it will hold as the channels are all red. When i watched the original video I thought this was the way they used it?

Seems a very good indicator for momentum.

gordon

Gordon, please point me to the video. Thx in advance. Personally I like the first version better as it shows the R / S lines very clearly.

Hi everyone

Sorry to ask you for some help about Forex Freeway, but I still do not understand how to enter trade.

Here you can see 2 screenshots, in first I've all 4 red bars and a down trend, what I have to do ? And on the second I have all 4 green bars with a down trend. I'm a bit desapointed on how to interprete the chart

If you can help me to explain how to enter trade on 2 charts I will appreciate

Thanks a lot.

Yousky

Files:
1.jpg  202 kb
2.jpg  154 kb

Valeo,

The video is for similar software.

http://www.traderhousedemo.com/gridtutor/index.htm

Freeway looks th same and obviously cheaper.

Gordon

Just for the record the software is not similar. On the very first page of this thread I pointed that out and Desoft(who brought forexfreeway to the forum)clearly stated that it is not the same nor similar, only in appearance. The people at traderhouse want an arm and a leg for their products maybe even a few toes.

gordon:
Valeo,

The video is for similar software.

http://www.traderhousedemo.com/gridtutor/index.htm

Freeway looks th same and obviously cheaper.

Gordon

Goldensight,

The reason for the link was in response to questions on how to trade with freeway, the video suggests you should look for same colour channels clear of resistance areas, seems to make sense. I think in this respect both are similar, not a comment on the programming.

Happy trading

Gordon

Money Map Clone

Attached is a clone of the money maker indicator shown in tutorial videos, refered to in earlier postings.

fx_traffic.ex4

Files:
fx_traffic.ex4  63 kb

Okay buddy I understand now. cheers

gordon:
Goldensight,

The reason for the link was in response to questions on how to trade with freeway, the video suggests you should look for same colour channels clear of resistance areas, seems to make sense. I think in this respect both are similar, not a comment on the programming.

Happy trading

Gordon
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