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Sergey Golubev
Moderator
98261
Sergey Golubev  

We have level trading here https://www.mql5.com/en/forum/general (links to 2 threads) and I tried to implement something.

It may be interesting for the people who are drawing support/resistance lunes and confirm/validate it by price movement in very classical way (twice crossing of possible support/resistance line by price for validation, duration of the lines and so on).

If some person said that nothing works in forex so show him this image.

Files:
Linuxser
5912
Linuxser  
newdigital:
We have level trading here https://www.mql5.com/en/forum/general (links to 2 threads) and I tried to implement something.

It may be interesting for the people who are drawing support/resistance lunes and confirm/validate it by price movement in very classical way (twice crossing of possible support/resistance line by price for validation, duration of the lines and so on).

If some person said that nothing works in forex so show him this image.

I would like to say this picture shows the importance of the whole view, the big focus, not only last 20 bars.

How much you need to see the wood not the three.

Why do you think I insist so much every time I can write to Metaquotes to give a better zoom to MT, as TS or others. Not for fashion

EnkiJr
120
EnkiJr  
newdigital:
We have level trading here https://www.mql5.com/en/forum/general (links to 2 threads) and I tried to implement something.

It may be interesting for the people who are drawing support/resistance lunes and confirm/validate it by price movement in very classical way (twice crossing of possible support/resistance line by price for validation, duration of the lines and so on).

If some person said that nothing works in forex so show him this image.

Hi Newdigital... yes, it is looks like quite an interesting system... you said you will translate/correct the available Russian document available for it... could you bring us up to date on the progress...? -tks

Sergey Golubev
Moderator
98261
Sergey Golubev  
EnkiJr:
Hi Newdigital... yes, it is looks like quite an interesting system... you said you will translate/correct the available Russian document available for it... could you bring us up to date on the progress...? -tks

You are talking about those 2 threads concerning level trading?

https://www.mql5.com/en/forum/174929

https://www.mql5.com/en/forum/general

Some time ago two members of our forum found this level treading system on Russian forex and created public threads which i mentioned on the post.

Then author of this system came to our forum. He did not speak english at all and I tried to translate his manuale (and i think I did it and posted on the second thread). But, sorry I understood nothing from his manual. Because his manual was not written in forex words. What are forex words? Support, resistance, line, dot, price, crossing. But manual of the Russian author was not writted like that: there were no any forex terminology. That is why I understood nothing. I visited some Russian forum and seems other people understood nothing as well. Later on the author created commercial trading courses and everybody understood why he wrote so approximate manual (because he did not want to disclose the system).

But later on some people created indicators for his system and started to trade so everything is understandable now: it is support/resistance lines drawing for H4 timeframe and using for all other timeframes and price action confirming or unconfirming some lines to be support/resistance. It is very traditional and classical way to work with support/resistance lines. There are some other particularities with his system. Seems it is support/resistance/trend lines trading system + channel trading system.

It works of course.

EnkiJr
120
EnkiJr  

LevelTrading...

Thank you Newdigital...

It looks like the Level Trading is doing well... I was learning Russian at school when I was a kid, now have long forgotten it... but the translation engine is doing quite a good job...

Thank you for posting the LevelTrading package a few posts earlier... it looks like the level lines being drowned by it are as per the latest info from the Russian forum... have a look...

I'd like to pick up on it further at the last thread you gave the link to...

https://www.mql5.com/en/forum/174929

*** Newdigital, I will wait for your answer before posting there...

and am inviting all interested to join... -tks

PS: On the other hand... Newdigital, if we would to revive the Level Trading thread... maybe it should be done in the Elite Section... can you move the above public thread in here...?

or... better yet, start a new "continuation" thread in Elite... please advise... it seams the LevelTrading mechanics are such as those of MTF Stochastics... and the "key" points on the LEVEL lines and the S/R turning points...

TraderNeo said the indicator we have here is not exactly what he is using... well, my little contribution could be that I have noticed ONE drawing part that may be wrong [see the yellow dash line at the upper right - this may be where the LEVEL line should be drown - it would be according to TradreNeo's technique - this R line would have 5 touch points]... where can we go to talk about it...?

in the meantime I am posting the link only in Elite... translated Russian forum... they are trading GOLD there...

http://www.translate.ru/url/tran_url.asp?lang=ru&direction=re&template=General&transliterate=on&autotranslate=on&url=http://forum.alpari-idc.ru/thread29819-194.html

Thanks for your work Kalenzo... we all appreciate it...

Files:
babyeridu.gif 34 kb
Sergey Golubev
Moderator
98261
Sergey Golubev  
EnkiJr:
...Newdigital...

is the LNX_Pivot a part of the new "level trading" system being developed by Igorad...? the original "level trading" you are pointing to is not active... ???

...

No, LNX_Pivot was not part of Level trading. I was trying to have some levels on horizontal way just to have some orientation and LNX_Pivot works in this way together with Level trading.

EnkiJr:
maybe it should be done in the Elite Section... can you move the above public thread in here...?

I can not move public thread to elite section. We may start the new one here.

Yes they are trading gold as well http://leveltrading.ru/analyst_gold.htm

Description of the system is here (translated url).

Indicator from post # 256 is having different color for the different lines (unconfirmed support/resistance, confirmed, lost importance level):

LightGray color, Silver, DarkGray and Gray (some of the line is dotted one).

There is the other indicator (attached) where types of the lines are differentiated by width.

Files:
EnkiJr
120
EnkiJr  

Lts

Great... the LTS 123 you posted seams to work better... thanks... I still see however what may be some misfired lines... would like to expand more on it in the new thread...

Originally I wanted to assemble ERIDU - CounterTrend TS with PIVOTS, etc... but after you posted TLS... I think I would much prefer to have this one, as its engine...

Recently I have opened, thread is in a public forum... but, I think here it will be better... so may I open a new thread here in Elite Section with TLS as the engine...?

if yes, I will inform visitors to my public thread that the discussion has moved to Elite Section... please advise... -tks

Sergey Golubev
Moderator
98261
Sergey Golubev  
EnkiJr:
Great... the LTS 123 you posted seams to work better... thanks...

Originally I wanted to assemble ERIDU - CounterTrend TS with PIVOTS, etc... but after you posted TLS... I think I would much prefer to have this one, instead...

Recently I have opened, thread is in a public forum... but, I think here it will be better... so may I open a new thread here in Elite Section with TLS as it's new heart...?

if yes, I will inform visitors to my public thread that the discussion has moved to Elite Section... please advise... -tks

It is not very good to move whole discussion from public to elite because people should have a choice: public discussion or elite section.

Meaning of elite section is "not for everybody". So you may open the thread in elite section just for something very important or for something which is not for everybody. So it may be 2 thread: public and elite.

EnkiJr
120
EnkiJr  

Level Trading System - LTS...

Newdigital... we have learned about Level Trading System [LTS] from your post... and you posted the indicator(s) as well so I think we should continue here... I will be updating this post as I go... I can only read from English translation and need to use some creativity to come up with the meaning of what's there... so...

This is so far what I came to understand about the LTS from "English" translation... it is a Multi Time Frame [MTF] System...

============================

LEVEL TRADING SYSTEM - LTS [from TRANSLATERDurl ... this text should be red with the charts from there]

*** Basic Terms... the angle/slop of lines is set by the highest time frame... MN>W>D1>H4>H1...

- CONTROL PRICE POINT [CPP]... is a Price Minimum or Maximum (peak or hollow)... marked on the chart by price...

- 123 ARMS... going North Arm [NA]... and going South Arm [SA]... that connect CPPs...

- PRICE LEVEL LINE [PLL]... is the minor line which runs through one CPP [may be R or S line]

- CONFIRMED PRICE LEVEL LINE [CPLL]... is the PLL that runs through 2 or more CPPs

- CPLL will loose its significance when it is crossed by the Price... from above DOWN, and then back from below UP, or vice versa... without setting new CPP [a min 30 PIPs distance]...

*** LTS Development Format

- MAKING OF THE PRIMARY, BASE CPLL...

Design of the system starts on a Price Chart of the MN frame... initially, as we know, we need first 3 CPPs [2 Max CPPs and 1 Min CPP, or vice versa] to be formed... thereafter, we run a line through the picks of CPP #1 & #3... this gives us our 1st minor Max PLL... the angle of departure and position of this line will be adjusted to fit the, to-be-build, Principal/Base CPLL of the MN time-frame...

IMAGE #1

Fig.1 Initial construction of the 1st 3 CPPs... 123 lines... and... 1st minor Max PLL...

123 lines shall connect exact pick and valleys of CPPs #1, #2 and #3 running across candles and shadows... the 1st minor Max PLL is run through the picks of CPPs #1 & #2...

IMAGE #2

Fig.2 Construction of the 1st minor Min PLL...

The 1st minor Min PLL shall be drawn, parallel to the Max PLL, through the pick of CPP #2...

IMAGE #3

Fig.3 First adjustment to the departure angle of Min PLL...

When CPP #4 is marked... a new departure angle for Min PLL is set in place...

IMAGE #4

Fig.4 Next, after marking CPP #5... we draw line between the pick CPP #1, through CPP #2... to the pick of CPP #5... this line gives us the 1st CPLL [three CPPs]... we balance the lower Min PLL to be parallel with the top CPLL...

IMAGE #5

Fig.5 We mark here CPP #6... draw a new, parallel to CPLL, local Min PLL through the pick of CPP #6... and mark CPP #7... as we mark more CPPs... we adjust the departure angle and position of Level Lines to reflect the most predominant Level trend-lines and CPPs...

IMAGE #6

Fig.6 A completely marked and done MN time-frame... provide as with the vital information as to the price movement and the departure angle of Level Lines... the revealed and set in place, Base CPLL departure angle, is now passed on down to all the lower time-frames...

IMAGE #7

Fig.7 The same departure angle Level Lines, as well as, a construction method for CPPs, PLL/CPLLs of MN is imposed on the lower W1 time-frame... showing the structure, MN is build-up from...

IMAGE #8

Fig.8 Further, by analogy, the lower D1 time-frame is populated... the departure angle is imposed down from W1 time-frame... the Level Lines construction methodology is as per the higher time-frames... the constructed structure present us with more detailed price formations...

IMAGE #9

Fig.9 Time-frame H4 is made the same way... subset of D1...

IMAGE #10

Fig.10 H1 time-frame... a subset of H4... same Level Lines departure angle as on MN...

[... ...]

===========================

Chanel Formation... depth of no less than 30 PIPs... [this is from the pdf file]... this text should be red with the charts from there...

*** 3 CPP... say, 2@Max and 1@Min... draw the channel... channel depth [CHD] measured along a vertical line...

*** draw the Chanel's Center Line [CCL]...

*** if the Price cross the Min PLL [minor, not confirmed]... we may anticipate...

1. false breakout [FB]... price runs down less than half of the CHD... price will return to the channel ..

2. price will continue down to the point equal approximately to the CHD...

Possible Action to Take...

1. Sell at the bottom Min PLL... S/L at the CCL level... [anticpated profit = CHD... S/L @ 50% of CHD = CCL]

2. Do nothing

Observation...

1. After FB... price attempts to return to the channel... the minor Min PLL has now changed from S to R... and the price bounce of R going down to the distance equal approximately to CHD... new CPP and PLL are formed... TAKE PROFIT...

2. The distance from the new PLL to the last PLL is more than 30 PIPs...

3. Price bounce back UP from the new minor PLL as far as the CCL... forming a new local Max CPP... the original CCL becomes the new Max PLL...

4. Price bounce back DOWN from the new local Max PLL... to the bottom Min PLL... almost 30 PIPs...

NOTE: Typically, price making the 2nd run at the Min PLL, does not reach earlier-set local minimum [Min PLL], but rather starts to reverse from, approximately, the price level of closed candle for the last Min CPP [as discussed in Thomas R. Demark book "The Technical Analysis - a New Science" ...This fact should be considered while opening a new position....

======================

WISH LIST / NOTES...

[1] It appears that on the originator's charts... the 1st 123 arm on the right side of the screen is a LEADING line, which, the price "follows"... the UP 123 arms are parallel to each other [same with DOWN]... at the indicator AS-IS, the price is well ahead, before any 123 line is drawn... may they be using a different 123 allogarithm...?

======================

LTS files attached... will update them as we go... the two posted are drawing different Level Lines... we may not have the right code... Newdigital if you have a different version pls post and I will update it here... levelTrading2 file is a translation from the Russian Forum... "English" needs to be translated to English... -tks

======================

-more to come...

EnkiJr
120
EnkiJr  

Lts...

Newdigital... the indicator you first posted with your template on LTS draws different Level Lines than the 123 you posted last... would you know which one is correct...?

also, could one of you Great Programmers/Coders drop by here and possibly help us with this indicator to make sure it draws exactly as per the originator's instructions...?

I think now we have more information that we could move forward with... -tks

Linuxser
5912
Linuxser  
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