The "XO"-Method......... - page 35
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Repainting issue
ValeoFX, thank you for your kind answer and the reference. Yes, it is correct in real time. What worried me, though, was the fact that if the current bar of, say, "ZZ MTD XO A" indicator shows long and within a period of 15 or 30 minutes the market changes, the readings of the indicator may change showing red bar (in, for example, 10-15-20 minutes), which will mean that I entered the market at the wrong moment.
Anyway, I will take further forward testing. Thanks once again!
May I suggest that you read the reason why it repaints. (POST 241 by Pip_Trip).
Secondly, why is it dangerous if in "real time" it is correct? You are trading in "realtime" and for that reason it is outstanding to say the least. Back-testing is useless anyway. Take time and test it forward and you will see the results.
I don't know the attached indicator and will look at it. If it is the same as the XO and vice versa, so be it. We gave credit to the developer who has done an excellent job imho.
Re-inventing the wheel? I don't think so. We have applied it differently if what you are saying is correct.ValeoFX, thank you for your kind answer and the reference. Yes, it is correct in real time. What worried me, though, was the fact that if the current bar of, say, "ZZ MTD XO A" indicator shows long and within a period of 15 or 30 minutes the market changes, the readings of the indicator may change showing red bar (in, for example, 10-15-20 minutes), which will mean that I entered the market at the wrong moment. Anyway, I will take further forward testing. Thanks once again!
maccavity,
Your concerns are appreciated. After using this indicator, you'll see that that it's extremely rare even in a 4-6 hour period for example that you'll have a bar change. In fact, depending on the how the market is tiding, you may not even get a bar change after closing/reopening your charts.
As far as a repaint in such a short period of 10-20 min., I haven't seen this happen yet and I typically have this indicator open on several charts per day. With the longer timeframes such as the 60 and 240's within the XO indicator, your charts are using valuable, lengthy information to help you decide what the current situation is. Along with the 34 CCI, (and I also like to use the "Forex Freedom 25 multi-CCI posted earlier) this is a powerful system. (In fact, check out today the cable 10:30 GMT, conditions met BUT an overheated CCI down past 350 (actually the entry CCI past 500!!). GREAT situation that Valeo has repeatedly mentioned showing us to stay out when this happens. An entry would've taken you back 20 or so pips. Later on, 11:55 you see a smoother entry with the CCI for a nice 20 pip gain.
Hope all this helps, like I said check it out and watch this indicator even over several hours and have fun with this system!
Hi Valeo, I only came across this thread today but have made time to read through it all. I must congratulate you on the work you, and of course others have done on this method. I do have one question-;
I have the 4TF XO2 on my charts but i cannot understand how you can visually see when 2 TF's have reversed as opposed to perhaps just 1 reversal. I guess you can tell from the figures in the box but then that makes it less visually friendly. Perhaps i am missing something. Would appreciate your reply
Hi Valeo, I only came across this thread today but have made time to read through it all. I must congratulate you on the work you, and of course others have done on this method. I do have one question-; I have the 4TF XO2 on my charts but i cannot understand how you can visually see when 2 TF's have reversed as opposed to perhaps just 1 reversal. I guess you can tell from the figures in the box but then that makes it less visually friendly. Perhaps i am missing something. Would appreciate your reply
balat, glad to have you on board. I reccomend reading through the key posts from ValeoFX at least twice. This is a great system but you need to be clear on the elements.
About your question, notice on the 4 TF XO2 there are numbers, 4 to -4. Each number represents a tf. So if you are at 4 then all 4 tf's are signalling a buy. If the number drops to 3 then one of the tf's has changed. At 2 you have two that have changed, etc...
The number needs to be at 4 or -4 to enter and when it drops to 2 or -2 you have an exit signal.
Hope that helps.
hey thanks Hoggzilla, appreciate your response
?
i just want to be clear are the settings for XO 7,7,6,5?
As for today, June 22, the EURUSD and GBPUSD has been in a downtrend. How do you determine when to enter into a trade when the XO Bars have remained red all day if one had missed getting in from the start of the downtrend?
Hi Valeo, I only came across this thread today but have made time to read through it all. I must congratulate you on the work you, and of course others have done on this method. I do have one question-; I have the 4TF XO2 on my charts but i cannot understand how you can visually see when 2 TF's have reversed as opposed to perhaps just 1 reversal. I guess you can tell from the figures in the box but then that makes it less visually friendly. Perhaps i am missing something. Would appreciate your reply
Very astute, Balat! I have the same problem with it and will ask VideoJ to change that a.s.a.p. Another problem is the confusing setting of an "extra" KirPer on opening the window. I would prefer that to be out so that w can just set the Kirpers for the individual timeframes. This is one reason why I don't use the XO_5.
Just hang in there for a while, we will get it sorted soon. Thx, and best wishes, always.
As for today, June 22, the EURUSD and GBPUSD has been in a downtrend. How do you determine when to enter into a trade when the XO Bars have remained red all day if one had missed getting in from the start of the downtrend?
"ET" if you missed the entry @ 03:00 est, you have missed the trade, my friend. Sorry. Only other time when you may have had a chance was at the retrace @ 3:40 est.
I use the LSMA-13 and 21 on my 5-M Chart and as long as they are RED (in this case), you may enter again at that level, knowing of course that your pips are going to be so much less. In this instance it should have given you quite a good run as the XO s are still red at the time of my writing.
Best wishes, always.
Changing KirPER setting............
Thanks to VideoJ. He created this indicator and posted it on the SBFX thread. It combines the 4 XO TF's into one window.
EDIT: Just ignore the middle indicator on the picture. I am working on an XO substitute that is a little more reactive. If it pans out I will post.
EDIT: Updated the screenshot and indicator.HoggZilla and VideoJ - please guys we need your help a.s.a.p.
Too much "confusion" is creeping into the use of this wonderful indicator of yours. Please let me explain:
1. When you open the indicator window, the first line reads: KirPER and has a value.
2. After that follows the TFs and then finally the KirPERs for the different timeframes which can be set individually.
Please could you remove the first KirPER that seems to set the overall KirPER after all the individual settings were set.
I am still running my original test plate with all the individual settings and I now know that it is better to have this removed,UNLESS there is a better reason for having it there. If there is, kindly let me know so that we can get the confusion quashed right this minute before it becomes a "monster"
Also, some guys are "complaining" that the bars change colour the instant that one of the timeframes changes colour, which then gets you out of a pretty legitimate trade. Can you tweak it so that it will only change colour when 2 time frames have changed colours?
Thanking you in advance.
If anyone of you other wizzards would like to change this in case VideoJ is too busy, I am sure they won't mind as they will also benefit from it.
Best wishes always.