When you have a moment today, would you mind looking at this M1 chart?
I have drawn Red - arrows to point out the position of the TDI-v2 at the time of entry which was clearly shown by the candles; the TrendScalp and the bottom AbsoluteStrength-v1.1
The TDI was clearly against the trade.
Also, I downloaded v2 of Abs.Str., but it freezes the MT4 without showing up on the chart. Any suggestions plse?
Thank you for your time.
About TDI indicator. On this template: blue line is the direction of the trend, and red line is the strength of the trend. It is originally according to Forex Magazine #58. But on my template - blue line is buy line, and red line is sell line. I mean: every trend can be separated on buy or sell by 2 lines. So, it was original idea for AbsoluteStrength and I used it here for TDI for low/small timeframes only.
Concerning your image.
- about blue line:
So, it was correction after bull market. I mean: primary trend is/was uptrend, but it is just a correctional downtrend (secondary trend inside this primary bull).
- red line.
So, it was bear rally. Primary trend (the main one) is/was downtrend but it is just a bear correction.
because ... if we are talking about sell trend only so - after downtrend so what we can expect? Immediate uptrend? Not. We will have secondary trend.
The problem is that AbsoluteStrength is having 4 lines, but this TDI is having 2 lines only. Of course, AbsoluteStrength indicator is more precision one concerning this situation, and TDI indicator is more simplified one but it is not very important in case we are trading M1 timeframe. It is important in case we are using M15 or more highier timeframe.
So, according to your image - it was not sell and it was not buy ... it was correction for both trend directions. means: randing sell.
Yes, we are trading this case/"pattern" for this scalping system.
As to relationship of this TDI with AbsoluteStrength so look at this image with explanation:
As I said - AbsoluteStrength indicator is more precision one concerning this situation (because indicator is having 2 lines for sell and 2 lines for buy), and TDI indicator is more simplified (because it is just 1 line for sell and 1 line for buy).
Those 4 lines for AbsoluteStrength indicator are giving more exact/precise situation as for buy (buy line is on uptrend, sell line is on secondary trend), opposite for sell, for ranging sell (uptrend and downtrend on the same time with red lines are above 2 blue lines on the chart), opposite for ranging buy, non-trend (secondary trend for both lines on the same time - i mean: correction and bear market rally on the same time - we are not trading during this period of time).
But for TDI indicator - we do not have non-trend - we are having just sell, buy, ranging sell and ranging buy (buy/sell and ranging market condition). Because TDI is having 2 lines compare with 4 lines for AbsoluteStrength indicator.
Some indicator is re-acted later, some of them - earlier ... so it depends on the situation and the indicator itself, and so on.
Some additional information:
- AbsoluteStrengthMarket indicators: indicators to analyze the market condition. Read posts starting from this page to this one.
- indicators and template to estimate the market condition for D1 timeframe is here.
Or read the thread here Market condition indicators/tools.
Wikipedia - see secondary market trend here.
ND, many thanks for your time and explanations. Much appreciated.
It is some more little explanation about this kind trading style (re-enter).
It is classical way of trend following trading (1 trade per chart/pair in trend following way):
It is classical way of trend following trading with re-enter:
It is classical way of trading with scalping re-enter:
Re-enter is the term and I did not invent it. As I remember - it was many years ago (before metatrader 4 was created), and this trading style was hard coded by indicators for some trading platform with exact this word - 're-enter' (classical way of trend following trading with re-enter - the image #2). Means: we are having the main trade/order, and we are "playing" inside this trade/direction by openning/re-entering. It was implemented in asctrend systems and for trading with Ichimoku indicator too.
Scalping in this way is the same re-enter but without the main trade/order.
There is counter trend style as well but it is something similar: there is main trade/order (or without it if in pure scalping way), and re-enter is made in counter trend way (in opposite direction to the main trend/trade).
Difference between classical styles and pure scalping is the following:
- in classical way with re-enter - the main trade/order should be opened;
- in pure scalping way/style - we are trading without openning the main trade/order just making re-enters (in trend following way, or in counter trend way) taking onto consideration this main trend.
Just for information about how I traded for example (incl trades in public asctrend thread as well).
Some more fooling around ...
Thank you Mladen...
Thank you for your continued educational insight and teaching of what seems to be "hidden" to souls like me. Your and ND's quest to help everyone understand the "wonder of order", is to be commended.
Could you add an option of draw arrows on the main chart to trend scalp indicator?
Since I posted this https://www.forex-tsd.com/forum/debates-discussions/116-something-interesting-please-post-here/page148#comment_545444 a couple of days ago, it made it all easy
Trend scalp indicator is in fact a variation of TTF indicator (originally both were made by Nick Bilack) and since the T3 repainting that would have happen if un-commented in the original trend scalp indicator, is solved in it, here is a variation of TTF that does the calculation the "trend scalp" way and has alerts - so it is now officially a trend scalp indicator
hello again everyone. i was wondering if i could get an email alert for this indicator that alerts once per candle when price breaks through one pip above or one pip below the dots? couldn't find one like it.
Non Repainting Triangular MA
Someone pointed me to using TMA. But it repaints badly. Is there a non repainting version ?
Thanks a lot