The "XO"-Method......... - page 37
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Hi All,
It seems to be one of the things with a good and fast running thread that confusion sets in after some time. It's a "problem" due to the high rate of interest and activity at the forum, and the reason I make graphs and illustrations for many of the threads I join.
The other reason is that it's one of the very few ways I can contribute. I can't do much testing because I have an older and much slower computer that's easily overwhelmed with more than one instance of MT4. I'm also forced to stop any testing I'm doing when in a very active and fast market, since I need instant response for my live trades (I dare not think what would happen if my rig started paging out to the hard drive during a trade!)
I'm more than willing to do new illustrations and an up-to-the-moment recap of the present method. Another item of consequence is that every so often we do need input geared for newbies. What may be obvious to a more experienced member, may be a big stumbling block to a newbie.
Please do count on me and consider the resources I'm able to provide, I'm more than willing.
moneylineYou are such an asset, my friend. Thank you ever so much, much appreciated.
Just wondering if someone can clarify something for me. I've got the XO indicator setup for 60/5, 30/5, 15/5, 5/7 and in this example of todays chart the 5 minute has 2 green bars. The 15, 30, and 60 minute charts all have 3 or 4 green bars. How is this possible when it has been a buy for 3 hours straight to have a sell on the 5 minute chart? The 5 minute chart should lead all other charts not follow. I'm also wondering why the super XO indicator is showing a sell on all charts when the XO on all timeframes is showing a buy? Any ideas or explanations would be greatly appreciated.
Just a note: 60/5 ; 30/6; 15/5 and 5/5 is what I am using. Today was not so bad at all with first short entry @ 03h00 est candle on the 5M-chart.
I don't quite get your frustration, sorry.
Super_XO is too slow imho. I don't use it at all. Suggest you look at Post#319 to replace it with.
Just a note: 60/5 ; 30/6; 15/5 and 5/5 is what I am using. ...)
Hi Valeo
Is above setting correct? Or error in type
In reference to Post 319, what should the settings be for the Supertrend Indicator for mq4 file supertrend34, supertrend25 and supertrend? To me, they all look the same....
Trying to understand
Thanks for the recommendation on not using the SuperXO indicator. I'm just trying to understand what XO is doing and why. In this pic the pink box, it is clearly an uptrend and the 5 minute is in sell, then it changes to a downtrend and the 5 minute chart says buy while the 15 minute chart remains a buy all through the selloff. It almost seems that the 5 minute chart is opposite of what it should be. Is it reading a certain number of bars on that timeframe and averaging? Maybe if someone has an explanation of the indicator I might understand it better. Thanks for the insight.
I think I may have figured it out myself, but maybe someone can tell me if I'm right or not. If I drop down to a 5 minute chart and look there, it looks correct, but when looking at lets say a 30 minute chart you are seeing 6 of the 5 minute bars in one line so if there is a uptrend on the 5 minute chart within the 30 you will see a green line, and that is getting me confused. Does this seem correct?
If that is correct, do you use the 5 minute chart for entry? I can't remember if I read that in the thread or not.
Thanks for the recommendation on not using the SuperXO indicator. I'm just trying to understand what XO is doing and why. In this pic the pink box, it is clearly an uptrend and the 5 minute is in sell, then it changes to a downtrend and the 5 minute chart says buy while the 15 minute chart remains a buy all through the selloff. It almost seems that the 5 minute chart is opposite of what it should be. Is it reading a certain number of bars on that timeframe and averaging? Maybe if someone has an explanation of the indicator I might understand it better. Thanks for the insight.
tredd,
One thing that's quite peculiar in your posted chart is that it's a 30M chart. This system was designed and works extremely well with a 5M period. Your lower indicator settings (5,15) will be off (or will be deceiving) using longer timeframes. If you're going to use a 30M chart, why don't you stay away from the 5M setting on your indicators.
Yes - entry on a 5M - switch to a 5M and then check it out again.
reentry points
Valeo and Folks,
After these last couple of great trending days, I thought I'd post some ideas (well, this is what I do for now and seems to be working) for re-entering once things are under way and you've been asleep during the initial entry.
Here's the chart:
You'll see the markings of the bar where the "decent" reentries could've taken place with an entry in the next bar or two.
- The entry CCI (14) has made a retrace toward the zero line;
- The price has made a retrace to the 17 SMA (a nice little MA for a 5M chart - doesn't work all the time but as you can see is pretty sturdy!)
- The ADX you can ignore. Usually both signal/DMI head back up but better for initial entries.
Let me know the feedback there kiddos.
Moneyline/Valeo,
Can you give us an update on the current status of indicators that we should be trading from please.
There are so many indicators floating on this thread that I am at a total lost as what the real deal should be.
My latest indicators I am using are the ones that you posted in the zip file with template with the ZZ 4 TF XO2, ZZ MTF XO A, trend CCI
An good idea to keep it real, maybe the 1st page good be updated with the latest and greatest stuff that have been tested and that is being recommended.
Thanks
BTW, this is what i have on my charts - is this the real deal.
Hi Valeo Is above setting correct? Or error in type
It is correct, Kohzadi. Best wishes.
In reference to Post 319, what should the settings be for the Supertrend Indicator for mq4 file supertrend34, supertrend25 and supertrend? To me, they all look the same....
You are really a diamond digger, aren't you?
Try the "plain" SuperTrend at default which is 34. Just until we can come up with something "tweaked"