Rads Reverse MTF HAS - page 7

New comment
 

Iceman,

That is the best question. As you know I call this a Reverse MTF HAS system. That is precisely because instead of the usual top down approach, this system is a bottom up approach.

You will find that the top MTF Bar is always late to the party, in fact it usually shows up as everyone is leaving! I want to get to the party fashionably late. Not the first one to show up but there just as the fun starts.

The way I do that is by using the T3 lines and the HAS indicator to find the trend reversal points. Not every HAS color change and blue line cross is an entry of course. We have to look at all the T3 lines to see and judge what the higher time frames are setting up to do and act accordingly.

So I watch for a blue line cross at critical junctures, whether they are MM lines or pivots or fib levels and guage them against the higher time frame lines. Once the HAS crosses the blue line I watch for the next higher time frame MTF HAS Bar in the center window to change color to match the new move. If timing is right, the stochastic will be at or near the appropriate peak and crossing in my direction. Now I am clear to enter a trade.

If I have done it right, price will then move towards and cross the next higher T3 line. Usually there will be a slight pullback around that point indicated by the MTF HAS Bar for the current time frame changing color. Now watch for price to remain above or below the yellow T3 line as appropriate and look for the MTF HAS Bar to change color back to the new trend direction. That is the second entry point.

A similar action often occurs when you cross the third or red T3 line. Take a third entry if you wish and target a higher level. This could be the purple T3, the maroon 729, a MM level, a pivot point or a fib level. I often look for price to simply begin to stall out. I see price hit a high or low, pullback and try to retest it. If it fails to take out the new level, take your profits and watch for a new entry setup.

I don't claim to max out every trade. I rarely in fact pick the top or bottom of the trade for exit. I do however, manage to stay in the trade for more than 10 or 20 quick pips. That is not to say that if your signals reverse and indicate that you are wrong, stay anyways! Of course not. Live to trade another day.

As for stops, I generally use 50-70 pips as my stop level. If you got it right on the entry you won't test your stop too often. If you are pushing the stop right away chances are good that you took a false entry. This happens in any system and it will happen here too. Look hard at the higher level T3 lines and see if you simply misjudged the entry point on the right move or if you made the wrong move altogether.

Don Steinitz advocates no stops as he feels it will sooner or later work out in your favor. I don't necessarily agree but I don't like getting stopped out only to see the trade reverse shortly thereafter and do exactly what I thought it would do in the first place. You have to use your own judgment there.

Hope this helps clear up a bit about how this works. I plan on being on as much as possible to show setups as they occur and to answer your questions and hope we all have a blowout month.

I also hope to share some thoughts on money management too as that is the key to any strategy, no matter who develops it.

Rad

 

Middle Window Repaints

I could be wrong but I think the middle window repaits it's self.

I was looking at the G/J on the 5Min chart and waiting for the next line to change color...which it did. I switched over to the 15M chart to see what it looked like. I then switched back to the 5Min chart only to see that I now have the first two lines the same color for three bars instead of 10 seconds earlier only having one bar the same color on the first two lines.

Rads.....does it repaint its self ????

 

Once a bar has formed and the next one is working I don't believe it can repaint. It is reflecting what the HAS indicator is showing on the price line so that would mean the HAS repainted. Did that repaint too? I have not seen that happen.

Of course it can repaint prior to the close of the period. Once the period is closed I don't think it can repaint.

Rad

 

Template

There is something wrong with the template in the first post. I have downloaded all the indicators and the template and used it but nothing happens. opened and viewed the tools.tpl file with a text editor and found it did not have reference to any of your indicators.

 

Nothing wrong with the templates. The tools template is ONLY for the eurusd and is provided for you to import the settings for various chart tools. That was explained previously.

Use the Rads MTF HAS template after placing all the indicators in the right folder.

Rad

 

Can anyone tell me what the small red oblong box represents when it is inside the green box on the HAS bar and vice versa ie green within red.

 

Dave,

That is an indecisive bar. HAS is showing a green body with a red tail or vice versa.

Rad

 

Rad

Merry Christmas, and thank you for your time that you have taken on Chirstmas Eve to answer this groups questions.

Again Merry Christams and a happy New year.

P.S ,template works great.

Thx

Iceman

 

Thanks rad, all the best.

 

Thanks Iceman,

And to everyone else taking the time to check out my system. May you all be truly blessed during this joyous season and through the year to come.

Merry Christmas and Happy New Year to all and lets kick some pip but.

Rad

1234567891011121314...24
New comment
Reason: