XO_Method REVISED - page 49
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Hi, my H2 chart is out of scope because it is not MT4. I use the AVAFX platform because it charts H4 at a different interval to MT4 and also provides H2.
As regards Volumes. I am not too concerned about whether it is buyers or sellers because you can tell from the price. If the market is being driven up buyers must be clearly dominant in the volume being traded. This is because of supply/demand equation. The more buyers, the higher the upward momentum because high demand couples with willingness to buy at higher price. I take above and below average volume idea from 13 SMA.
Looking at a very in demand product in any country. The increase in price of the product can surpass inflation when there is high demand. Prices are driven up until equilbrium and consolidation.
I am more interested in the volume shown to be being traded when the price is moving in a particular direciton although I agree it would be extremely good to have detail of buying volume vs selling volume.
What I have noticed is that on extreme above average volume, or successively higher volume above average, with successively below average volume on the retrace/opposite candles, the direction with the higher volume tends to win out and the higher volume direction tends to be the trend direction.
I heard that volumes is not accurate because it takes data only from that particular broker. But (and it is a big but) I don't know that to be the case at all. It could be taken from wherever the broker take their price data which can vary from barely related to interbank market to best quote given multiple banks and institution quotes.
H1-chart Details
Having said all of that above, here is the screen-print of the H1-chart and a very brief description of how to interpret the indicators as most of it is covered in the Post on the H4-chart.
It was an "oversight" on my behalf and I apologise for that, that I did not mention the EMAs that I use on the H1-chart. These are 8; 15; 34 and 60. I use the 60-EMA as my "Trend" indication and the 15-EMA as my "directional" indicator. In spite of everything else (like the 100-EMA where the price often will bounce), I find that I do very well by just using the 4 mentioned.
In the H4 chart description, I forgot to mention the ENTREX-H4 indicator. This is a brilliant piece of work, but Prasz does not give us the mq4-version so be grateful we have it anyway. In the most uncanny way, when the price reaches the ENTREX, whether on H1 or H4 TFs, the price will either move sideways or retrace from it. Sometimes it "hugs" the ENTREX line for a few candles especially on the H1.
I also forgot to mention the TRO_BUYZONE_History indicators for the Daily and H4-TFs. These are indicators changed for me by my friend Gerhard (DayTrader) from the original that we found. They are Pivots and I find them excellent, especially after every 4-Hour change-over. These are excellent Resistance and Support levels. I apologize for having ommitted to clear that up at first.
The CCI-5/15 remains the mainstay for me when it comes to entries and in many cases also in exits. You should know by now how to trade the CCI effectively and if you don't, go back to the beginning of this Thread where I have described it in more detail.
For saving space, I have combined the RSI-2 / 4 and 8 in one window. It should be read in conjunction with the H-4 chart and interpretation is the same for all TFs.
The third window is the MTF-RSI set @ H4 and very accurate. It only resets itself if you either change TFs or open and close your PC. In real time it is extremely accurate and I urge you to respect it.
Lastly the XO.
Sadly (for me that is) this is the only time where I now use this incredible indicator. Settings are H1/H1/H4/H4 with KirPERs @ 6,5 / 6,5 / 4,5 / 6,5. I tend to ignore the full signal but will always obey the move from full to half which indicates that one of the TFs is in the process of changing. I will quite easily enter a trade when the RSI and CCI set-up is correct and the XO is not FULL ON yet. It has not failed me yet.
Wishing you many more pips ahead. Please feel free to discuss and/or suggest improvements that can be made. I am willing to listen and am always in the testing phase with something somewhere.
Post #342
It was an "oversight" on my behalf and I apologise for that, that I did not mention the EMAs that I use on the H1-chart. These are 8; 15; 34 and 60. I use the 60-EMA as my "Trend" indication and the 15-EMA as my "directional" indicator. In spite of everything else (like the 100-EMA where the price often will bounce), I find that I do very well by just using the 4 mentioned.
You will be wise to use the 180-EMA on the M5-chart as it represents the 15-EMA on the Hourly chart.
Best wishes.
This morning's entry..................
This morning's entry would have been "difficult for those of you who do not start looking at the Longer Charts in the morning, but it was a brilliant entry for those of us that do.
So, let me show you the H8-chart first
and BTW, I have the updating sorted out now, thanks to one of you and I will put your name in here later as it escapes me for the moment - sorry 
:
Commentary on H8..............
First thing to notice is that the price is making its 3rd attempt in breaking the previous High.
Secondly, the RSi-2 is showing divergence and I am the very first to admit that divergence does NOT always work, but in this case, the H1-chart was totally overheated (see underneath here) and the entry was at the close of the 07h00 candle (of the H1-chart that is) and therefore a price around 1.9840 (which was my entry).
Next commentary on the following post which will be the M5-entry.
M5 update...
As I mentioned in my previous post, you should still have been in this short. At an entry of 1.9840 (+107) and @ 1.9804 (+71).
This morning's entry..................
What I have been concerned about is the fact that I am driving this Thread and that is the last thing I want to do. It may seem as if I am on an ego trip, which I am not, but if nobody trades this Method, why should I continue to post?
Anyway, here is this morning's entry @ 07h40 and if you started @ 08h00, it was equaly good, in which case I would have waited for the breaking of the Pivot @ 1.9767 in my case (Magenta coloured horizontal dotted line).
The "DOTS-indicator" is unfortunately still not forth coming. Mladen is too busy to help out, but I am managing pretty well without it. The Arrows you see is the cross-over of the price and the 15-EMA and I have attached a voice to mine. If you want it, please ask for it.
Exit was an interesting one this morning @ 10h00 candle. The reason being that the H1-Rsi-set-up as marked, showed that a retrace was imminent.
Also, if you have not done it yet, please change the 28-EMA to 34 with immediate effect(far better signals).
Wishing you a pleasant trading day.
H4 this morning............
I want you to understand how important the H4-chart is in terms of direction and not make the same mistake as I have made for the 3rd time (and hopefully also the LAST time) this morning.
At the close of the previous H4-candle @ 08h00 this morning, you find (understandably because of low volumes since midnight) a small Green candle that closed BELOW the 8-EMA, BUT above the Daily-Pivot (solid Magenta line); but more importantly, the RSi-set-up was crossed over for the Long!!
What caught me (for the 3rd time
)was that the CCi-5 was already sitting >150% (Max being 166.667%) and so I expected a retrace in spite of the fact that the Bar contains 4 HOURS!!
Having said all that, the M5 entry chart, showed that the RSi-2 was only @ 61,08% and therefore no reason for concern. I learnt the lesson well this morning and it certainly has added valuable knowledge to my database. Trust you will have this engrained into your brain as well (for those still trading with me, that is).
Oh by the way, please ignore the ATR reading. That is the stop calculated for some of my friends who ask me for a recommended stop as they trade the H4.