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Level Advanced Trading - page 3

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EnkiJr
120
EnkiJr  

Linuxser... I see you are angry that I am praising your work... okay... I am taking all back... sorry that you are offended by it...

Now I am not sure if I can comment even on your "decoding" of the indicator's settings... well, all what I can say... thank you for sharing...

PS: I told you when you first dropped by to ERIDU... I am just a beginner... and was/am impressed whit what you know... the same way you are impressed with the work of Igorad, Kalenzo or MrPip... you praise them on these pages as well... and they are not offended by it...

vince-ac
23
vince-ac  

thanks

No problem, start all threads you want.

I will stay in this thread, for me seems to be more correctly understanding the spirit of Newdigital.

If you need something form us, just post it here.

thanks for keeping the spirit of the forum

later....vince

EnkiJr
120
EnkiJr  

Linuxser...

Could you please post what you think are the default settings for...

level_trading_123.mq4

and, from your experience... what overall settings would you say yopu are most comfortable with...? -tks

Thank you

PS: Perhaps you would consider using this thread as your Level Trading Journal with screen-shuts and commentaries... this way you would teach us all...

EnkiJr
120
EnkiJr  

Linuxser... would you know how to extend Level Lines that are not broken... started a week or week-and-a-half ago... but are ending the trajectory FOUR to SEVEN days ago without reaching to today... -tks

PS: the original setting...

Linuxser
5921
Linuxser  
Files:
di.gif 28 kb
eur.gif 27 kb
gbp_2.gif 29 kb
settings.jpg 80 kb
EnkiJr
120
EnkiJr  

Being still the beginner in the art of building a TS... not to mention trading... I can not be considered your "team partner"... do not have enough expertise to be like one, and to talk trading the way you do... a student, yes... and... like I suggested, this may become your journal... a good learning thread for "to-be" traders... the way you are putting your info forth is very clear... hope you will not get upset again, if I will say... thank you.

Now, I started to play with the setup as well... I am only learning the workings of one pair GBP/JPY... here is what I think is the meaning of settings... please give your thoughts...

IndicatorNumber=1;

TrendUpColor=Blue; // 123 North Arm

rendDownColor=Tomato; // 123 South Arm

LevelColor=DarkGray; // color of LevelLines

Width2LevelConfirmation=3; // "style/thickness" for the LL

Width3LevelConfirmation=5; // "style/thickness" for the LL

Width4LevelConfirmation=7; // "style/thickness" for the LL

Width5LevelConfirmation=10; // "style/thickness" for the LL

SnapExtremumsToLevelOnChar=True; // brings the nearest CPP to the LevelLine [LL]

FractalBarsOnEachSide=7; // every 7th fractal? [CPPs]

ProceedMaxHistoryBars=2000; //

LevelActuality=200; // trajectory length for LevelLines

RestDefaultTimeframeValues=True; // to MN timeframe... false; makes LevelLines horizontal

ExtremumToLevelMaxGap=15; // distance from CPP to LevelLine

PriceDeltaFor1Bar=0.4; // =0.0; makes LevelLines horizontal

My guess would be that LevelLines under angle are just easier to work with and... they should follow the inclination of MN time-frame... however, when you check the inclination on MN... it only holds down to H4... draw the trend line on MN parallel to MN LevelLine and see... H1 inclination is not the same... and MN trend line, on H1. seams almost horizontal... so... your setup is just it...

Also, your setup may be good for smaller time frames... marking all the fractals... I am trying to see longer trends with every 7th fractal or so... and combination of H4 and H1... am still working on it...

Linuxser
5921
Linuxser  
Files:
eurh.gif 28 kb
eurv.gif 30 kb
EnkiJr
120
EnkiJr  

looks good... it appears horizontal lines are giving you more precise CPPs... what's puzzling to me is why the originator would start drawing LL under angle and not horizontal, the way you do...

JaxPacific
36
JaxPacific  

angle of levels

I respect the opinion on level lines. But I'd like to share my opinion on the matter. After visiting the Russian forum and seeing the statements from the system when trading properly, it seems most beneficial to stay as true to the system as possible. Otherwise we could just stick to using daily pivot points or something of similar nature.

The advantage of this level trading system is, if the strongest lines are level then theoretically this system would be able to draw them as level. Am I correct in that theory? This system is increased in potential however due to it's own capabilities of capturing angled trend channels. Trend channels are themselves, easy to draw. But the MTF nature of this system as well as being able to gauge trend channels by their significance, are where this system shows it's edge.

What seem to be the most important goals:

1. Drawing the correct angles down through the time frames.

2. Drawing the correct thickness for each time frame.

3. Defining the trading rules.

Where are we at on each of these in accordance with the original methodology?

From my observation, the correct angles, seems like the easiest problem to fix in terms of logic, but I'm no coding expert, so there in lies my biggest weakness. This strategy is definitely worth the time and effort of this trading community, with experienced and novice traders alike. Accurate support and resistance is the one constant of the market. If this system can be transposed accurately.. The results would be uncanny.

Linuxser
5921
Linuxser  
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