RandyCandles - Information - page 76

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toddanderson:
is thier any channel indicator to help this

I use the LRC channel available in MT4

 

Thanks cbrock5000

Hi cbrock5000,

Thanks for your contribution. I am continuing to look at Goldenequity's waterfalls/fans and RC's without other indicators and have been experiencing difficulty with exits and entries - getting caught in price reversals.

I'm hoping you'll expand some on your use of channels...some of what you have said I don't quite follow. If you have the time/interest in contributing further, a few more chart examples and some detail on the drawing the channel would be much appreciated.

For example, I'm unsure how you draw the channel on the current day chart when the price has changed direction and, of course, the day hasn't begun.

cheers

 

RC Cola & Channels

To draw channels - use the LRC function built into MT4 on a M15 chart. The channels will not be accurate on any other time frame due to the number of data points utilized for the best fit calculations. On the parameters select "ray" which will project the LRC lines forward to the new day and beyond. Keep trading RC and drawing these channels and see how predictive they become for your targets. Many ranging days end up with 1-3 touches. Often the PA wil end up on the median at the end of the day. Today's NFP left the price on the bottom of the channel and price continued to track the channel down for the last few hours. Old channel is in orange - potential new channel that only worked in a few spots in blue. currently the orange channel is the best.

Files:
rc_amp_channel_2.gif  44 kb
 

Thanks for that, CBrock 5000. Looks interesting and worth studying.

Cheers

 
kincai4u:
I thinks this indicator made a good combination with RC's/Waterfall patterns/Stretch Candle exits.

Thanks Goldenequity for your effort to introduce RC's Waterfall patterns to us.

I made more pips with this system.

Kincai can you post the indicator snakeinborders

 
emas:
Kincai can you post the indicator snakeinborders

Ok, try this indicator, and you will find how powerful it combine with Rc Waterfall pattern.

Files:
snakeforce.mq4  7 kb
 
Vegas:
Hi,

Can anyone tell me why the stoch (in the yellow circle) sometimes lags....on the chart below you will see that it is behind by about 6 price bars....Other times it keeps up with the present bar.

Thanks,

vegas

Vegas, that stoch is built from the M5 timeframe, so it's construction is several M1 bars behind the red/blue stoch lines. When an M5 bar closes, it updates and catches up with M1's stoch and the cycle continues.

 

Pipskateer

Hi Pipskateer,

Thanks for the info....I figured that is what it was....How is your RC trading going...

Vegas

Pipskateer:
Vegas, that stoch is built from the M5 timeframe, so it's construction is several M1 bars behind the red/blue stoch lines. When an M5 bar closes, it updates and catches up with M1's stoch and the cycle continues.
 
fxbs:
Hi, Pipskateer! (or nohangingZorro?) some say Snake repainting... I like the Bookkiper's idea how he put together this indi, what do u think? (if Snake MA isn't stable, we can hook SnakeForse to any other MA - but idea of oscillator - what is your opinion?)

I've pretty much discarded the SnakeForce indy for that very reason - repainting. I think Rad's MACD/Osc combination is good though and I haven't seen it repaint that I can recall.

 
Vegas:
Hi Pipskateer,

Thanks for the info....I figured that is what it was....How is your RC trading going...

Vegas

Been struggling quite a bit. It's difficult to keep the mind focused with too many distractions. You can have the best system in the world, but if you're not mentally in the game, you need to be doing something else. I hope to pull it back together this week and keep more ontrack.

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