**Steinitz** Method Revealed Here - page 64
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A different twist on things based on pure price action. Add these two exploratory indicators to your \experts\indicators folder. Place the "MTF Blutonian_Throttle" on your chart and nothing else. Set your chart to the M1 TF. Perform righteous low-level scalping right on up to the H1 TF using the traditional bottum-up 4 MTF HAS Bar method. Compare notes & Enjoy.
I can't open these....can you send in mt4 file?
Thanks
If anyone wants to use candlesticks but finds the chart a bit cluttered here's a work around,
first add a 12 period exponential moving average to the chart (you will notice how well it fits the heiken ashi line) then remove the heiken ashi bars & switch the price line to candlesticks, you will still have the bars at the bottom to work with, but now you can see the full range of price action on the candles!
hope this helps someone.Cheers Arnold, I think you can use the FX Snipers MA so that the EMA changes colour if going up or down.
A different twist on things based on pure price action. Add these two exploratory indicators to your \experts\indicators folder. Place the "MTF Blutonian_Throttle" on your chart and nothing else. Set your chart to the M1 TF. Perform righteous low-level scalping right on up to the H1 TF using the traditional bottum-up 4 MTF HAS Bar method.
Compare notes & Enjoy.
Getting off track
Hello:
I have been perusing the thread and I feel we are getting off track. It seems that people will always gravitate towards making something more difficult then necessary. There are thousands of threads and even more traders that have lost money in Forex including myself. I could hand you the best method for all markets trending and choppy and I bet dollars to donuts that each and everyone will seek something just a little better with a different look.
I fell into this trap when I was 21 years old. I invented a keyless car alarm that used no locks and only your bodies capacitance (your finger) and LEDs inside the car windshield. It was an electronic combination lock to turn on and off the alarm without keys. It was incredible I thought so I patented it in the USA.
Well I am telling you this because as a perfectionist I was not ready to stop my mind from making this invention better. Bottom line. Years past and the keyless transmitter came out and competed with my lock and the rest is history. I waited years too long.
So what I am saying is this. The HAS method is just a fancy MA that is smoothed and allows volatility to be seen through the wicks and bodies of the candles. It's colorful and keeps things simple.
I am fortunate to be working with Lee in opposite time zones getting the EA built and we have already put together an alert that works perfect according to the "original" method. Yes arrows are drawn with visual and snapshots according to the rules. He is brilliant!
I am now moving on to the "scalping" method. I am brainstorming with him. Me the developer and he the programmer. It's a cool combination. I have seen the original method point out all the trade candidates by way of arrows and I am not convinced that I would personally trade it as my #1 tool.
Lots of great trends and lots more whips to cause many fake outs. But you guys know that already or should at least. That is why I am putting all my efforts into a "super dupper pippy scooper" EA and or alert for my "scalping" method.
What's fantastic about this method is it works GREAT in choppy markets getting you in and out quickly with TP's and trending markets actually have less entries but allows staying in longer if you wish to bypass the TP pip settings and go with a trailing stop.
The EA will have self checking parameters to make sure that all TF's are in accordance to the rules no matter when it gets you in. There is a lot of logic being built into this design.
I have traded using these rules (without the better entry rule) with 100% positive results. Look at 4/1 through current and tell me if I was lucky and could have thrown a dart at the market and profited.
With sound logic and no emotions equals a chance to succeed in one of the hardest endeavors of my life.
Maybe Ergodic cci would make better confirmation than Trix. Mart
Mart,
I like this indicator. Just don't like the damn alert that goes off EVERYTIME you change the timeframe. Needs a enable/disable switch on it or only if lines cross on any timeframe or select timeframes.
Sorry coz I'm gonna ask this question for the second time..
Does HA Smoothed indicator repaint? so there is a change on wick part and body part? OR on wick part only? I am gonna put this on 4TF
Will anybody here answer to this question.
Thx alot.
This question has been answered so many times in the past I can only presume nobody wanted to venture this direction again. None of the indicators associated with the "steinitz" methods re-paint.
Hi steinitz,
Thanks for your answer..
You said that the indicators doesn't repaint..
Let say I put the HA Smoothed indicator on 4TF.. On 4.00 GMT, the Bar purely in RED, will it remains RED until 7.59 GMT? I mean once it open in RED, it will remain RED until the bar close?
Coz I have noticed other indicator (not yours) does repaint.. where it turns BLUE to RED to BLUE again within 4 hours.
Hi steinitz,
Thanks for your answer..
You said that the indicators doesn't repaint..
Let say I put the HA Smoothed indicator on 4TF.. On 4.00 GMT, the Bar purely in RED, will it remains RED until 7.59 GMT? I mean once it open in RED, it will remain RED until the bar close?
Coz I have noticed other indicator (not yours) does repaint.. where it turns BLUE to RED to BLUE again within 4 hours.There is a difference between the terms "repaint" and "forming"
The bar will be forming its color until the next TF e.g. 8:00. Up until that time the bar will be unstable. After that time passes the bar will remain whatever color was recorded for that TF span e.g. 4hrs.
Some indicators that close with data can be effected by future data causing closed conditions to change. That is a re-paint scenerio. No re-painting with mine.
wow....Craig! Does this mean I should give all the pips back ?
Everyone is certainly entitled to their opinion but those of us that are making money using this system will probably continue to do so in spite of all the people telling us it can't work.
Yeah...I will feel bad about it....but not too bad.It definitely means you shouldn't give them back! Withdraw the money or put in a subaccount in case a single stop loss or margin call strikes. I like trading with a very calculated risk. I like to look at my win:loss ratio using that risk. I like to calculate the projected loss from consecutive losses, and profits from average gains. Some people trade without SL and only close trades in profit. That does work, but the entire account = stoploss. On Steintz demo trading he won't ever kill the demo account because it would take 50,000 pip loss at 10 lots to kill a $5,000,000 account. I'd rather pay my dues up front and know what my losses could be in advance, or I can't sleep well.
By all means, keep the pips you've made. Withdraw the money at regular intervals.
A different twist on things based on pure price action. Add these two exploratory indicators to your \experts\indicators folder. Place the "MTF Blutonian_Throttle" on your chart and nothing else. Set your chart to the M1 TF. Perform righteous low-level scalping right on up to the H1 TF using the traditional bottum-up 4 MTF HAS Bar method. Compare notes & Enjoy.
Are you using this with HAS? Are you still working on an EA?