Need help indentifying indicator - page 59
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
When you speak of "3 bar setups" you are AUTOMATICALLY referring to LAGGING CANDLES because it takes the time of timeframe you are in for the candle to form --- ie: a 3 bar candle formation on a 15 minute chart takes 45 minutes to form --- I must respectfully submit that to be as LAGGING as anything possible !~ (LOL)
mpYou were joking right?. If not then your one of a kind
MP -- because the indicators tell you the future
hey,
so lets see if i can get your point -- although now i see that you AGREE that price action and indicators do the same thing in a differing format and that warrms the cockles of me wee little heart !
mp6140,
I see what you were trying to say in that extremely long post you made in response to my last one. However, I still don't think you are seeing my point perhaps. Yes, indicators do essentially show the same thing as price bars but in a different format. This is sort of exactly my point though. Why would anyone want to look at something ELSE besides PRICE movement to determine possible price direction?
simply because, and sooner or later you will admit it, price action can often be confusing and downright wrong if one moves on the start of a candle and suddenly finds the candle to be "evil and sneaky"
There are simple price action patterns that develop each day in the context of market movement that once a trader learns to spot can be a very stress free and accurate way to trade.
While I most certainly can not disagree with what you say (and there are even indicators available for MT4 that will TELL you when you have one of those wonderful japanese patterns) I find waiting for TWO or THREE candles to form a graphic powerpoint presentation telling you to go long on xx/xx, to be a tad bit of a long wait and most highly LAGGING, as by that point I have already been in the trade for the past 40 minutes (if using the 15 min chart, let us say)
I just don't get why you would want to have multiple lagging indicators all over your charts
now, now === you and I both have agreed that the indicators and the candles BOTH tell exactly the same thing, so why are the indicators suddenly LAGGING again ?
when you can just have nice clean price charts and learn how to trade effectively and easily off of such charts. What you are doing when you trade off pure price charts is cutting out the middle man (indicators), they simply are NOT necessary to be a successful trader. I think no matter what we can both agree that trading is difficult enough without intentionally adding things over top of our charts to make it more difficult
Allow that I have no shame in having things besides candles on my charts, especially when they contain "predictive" powers that candle trading lacks. I have seen EVERY form of TP described for you candle peeps, up to and including letting price hit a trailing stop as an exit point, while those things on my chart tell me EXACTLY where to get out, as does my wee little CCI INDICATOR when it tops in its panel, or when the price hits a "timeframe channel".
Understand that support and resistance are the "ne plus ultra" of the trading world, and unless you can SEE THOSE POINTS on a chart, your trading can become useless ---- it aint me saying it, although ive pointed it out as the most important thing for the past few years, changing a LOT of peoples minds on these sites.
SUPPORT and RESISTANCE and NOTHING ELSE is where the profit lies and its a foolish person indeed who disagrees, since the truth is proven every minute of every day of every week of every month of every year of trading !
Please understand that trading is one of the most boring things I have ever done as there are few surprises any longer, but the best traders in the world (of which i do NOT number myself) are bored by it constantly BUT heck, the money is swell for doing nothing.
.enjoy and trade well
mp
i have been called that before but it was usually in respect --- how may I take your statement ?
if youre being negative, allow that each 15 min candle takes 15 minutes with the resultant total being 45 mins --- what we speak of normally is a "lead in" candle, a "high" candle and the third, the "descending candle" and we need all three to determine a confirming pattern.
Now, I get two indicators that top, along with confirmation from my TP points and whatever timeframe channel im trading at the moment, and in a matter of minutes (without waiting for them there candles), I am now short the currency pair.
These becomes even easier if this particular pattern forms at the "normal" time based reversal times during the day, as these almost guarantee a reversal situation without even bothering to look at the chart and can be done seconds after the clock ticks past the time.
NO, most certainly im not kidding, and most certainly a 3 bar takes THREE BARS and three bars TAKES AS MUCH TIME AS EACH BAR TIMES THREE, and that is as LAGGING as anything can be.
ladies and gentlemen of the jury, I REST MY CASE !
LOL
enjoy and trade well
mpnah, i dont wanna continue with this.. i said what i felt like .. it was not positive or negative.. that was an obvious response from someone whose been trading for some years and what i could post from my end.
enjoy your trading.
but being neither fish or fowl, I still havent a clue as to what you meant and with all jokes aside, I would appreciate knowing even if no discussion of the matter is forthcoming
nah, i dont wanna continue with this.. i said what i felt like .. it was not positive or negative.. that was an obvious response from someone whose been trading for some years and what i could post from my end. enjoy your trading.
MP -- I rest my case !
i have been called that before but it was usually in respect --- how may I take your statement ?
if youre being negative, allow that each 15 min candle takes 15 minutes with the resultant total being 45 mins --- what we speak of normally is a "lead in" candle, a "high" candle and the third, the "descending candle" and we need all three to determine a confirming pattern.
Now, I get two indicators that top, along with confirmation from my TP points and whatever timeframe channel im trading at the moment, and in a matter of minutes (without waiting for them there candles), I am now short the currency pair.
These becomes even easier if this particular pattern forms at the "normal" time based reversal times during the day, as these almost guarantee a reversal situation without even bothering to look at the chart and can be done seconds after the clock ticks past the time.
NO, most certainly im not kidding, and most certainly a 3 bar takes THREE BARS and three bars TAKES AS MUCH TIME AS EACH BAR TIMES THREE, and that is as LAGGING as anything can be.
ladies and gentlemen of the jury, I REST MY CASE !
BUT, allow me to notice that if you are using a 3 bar pattern you are most likely doing intermediate to long term trades, cause its rare that one has time for that analysis when working with the one or three minute chart --- GIVEN THAT SITUATION, allow that what you are doing is a thoroughly viable and satisfactory method of trading those timeframes, as giving away some pips while holding for the longer runs is of no great consequence.
Myself though prefers grabbing an intermediate term trade for a few hours AND trading the normal up and downside moves that this type of trade will always produce --- in that way, while my longer term trade is in drawdown, Im making back everything by doing a counter trade, or in this case going short.
One HAS to define HOW they trade and what timeframes one uses BEFORE you state if you use indicators or not as in your case you are simply taking a well known pattern trade over the intermediate haul, although I would certainly like to know how you know when to take profit without "something" to tell you !
LOL
enjoy and trade well
mp
You were joking right?. If not then your one of a kind
hi all
wish that some body have an indi for mt4 like the one below
Automatic Moving average Period
hi
it is well known that in each time,
there a different period of moving average that
show the market behavior the best way,
this ma look like a trend-line in a trendy market.
the problem is that the period of the moving average has to be cange from time to time.
does anybody know an indicator that chages the period according to the market behavior?
for example,
when the ATR is high, the ma period will be smaller
when the ATR is low , the ma period will be bigger
I am sure that you can do it yourself
first , use comment in MQ4 to display the value of ATR
then combine 2 indicator together (you can't combine MA, but many indicator got MA)
than you change the parameter for MA accordingly
or simply set an external parameter (input) for the MA indicator input
but I like it to be fully automatic, as too much change in the INPUT (accordingly) is still a fuss for me
e.g.
one of the indicator here is AUTOMATIC
I just have to take that chart out, and that indicator will adjust accordingly
-- but it take me a weekend to analyze and program it -- i.e. programming bit is hard, but eliminate all the fuss to adjust the INPUT (the input will be re-adjust itself disregard the USER effort of trying to set it to another value)
Need help indentifying indicator
Has anyone seen an indicator that will change color when the X ema of the candle openings crosses over the X ema of the candle closes?
If not........could someone please write one?
Thanks
Well, apparently I'm still a total newbie when it comes to trading. I've been doing this almost a year and lost quite a bit by my standards.
I've got a system that I know is, and can be profitable but can't make it become so. Honestly, I'm at my whits end and I need a mentor, somebody that will walk through my system step by step and show me where I'm going wrong and how to correct it. I know this is probably a lot to ask but if there is someone out there that is trading professionally for a living that would be able to show me the ropes I would REALLY appreciate it.
The only thing I can say is that if someone that has been successful would take me under their wing I would be eternally grateful.There are hundreds if not thousands of methods, systems, theories, in which you can "trade" the stock market. But what really works and what doesn't can end up costing you a lot of money, time and effort. Here is my lowdown on some of the more popular methods being touted by system vendors.
Elliot Wave:
What is it?
Elliot Wave is a way of defining the market action in a five wave formation. A very simple explanation. It basically says mass psychology is predictable in a liquid market by a five wave cycle. An accumulation wave. A correction. A much bigger wave. A correction again. Then the final "speculative" wave. Where the public jumps in. This is the final wave and the the next correction is not correction as such but the end of the market cycle.
A picture is worth a thousand words. See the chart of the NASDAQ during the great "bear" of 2001 to 2003
So, looking at the above chart Elliot Wave does seem to hold some credibility. It's is clear the great market crash of 2001 to 2003 did move in an almost perfectly formed five wave cycle. Three waves down. Leg three being the biggest and leg five being the final one. All seems well.
This is what I want to say about Elliot Wave. In a "nutshell" it does seem to have some substance. Look at some monthly bar charts of a liquid market (where there is massive public participation) and you will be able to see some great five wave formations. Great. That's about all the interest I have in Elliot Wave. There is absolutely nothing you can trade off. It's not quantifiable. Sometimes you will see Elliot Wave formations, most of the time you will not. And then it gets worse.
Ask twenty Elliot Wave enthusiasts what they see in the same chart and I'll guarantee you will get twenty different answers. How can you trade of something so subjective? Why should a market move up in three waves? where's the common sense about this method? I do not see it.
And when an E.W. formation goes wrong do they say "oh sorry I am wrong. cut your losses and get out"? No. They they bring in extra rules about a correction wave within the formation and pile more and more B*S already onto a sea of B*S and non-sense.
I used to subscribe to an E.W newsletter. It was really interesting to listen to. this market was in this wave and would go here.. blah,blah,blah.... I didn't make any money from their recommendations. Lost a lot.
Verdict:
Something that might hold some academic interest if this is what "bakes your potatoes" but beyond the definition about liquid markets moving in five waves... I wouldn't delve any deeper into this. I honestly do not believe you can trade from this "theory"
Rating
2 / 10
W.D Gann:
What is it?
This isn't a what but a who. WD Gann was a famous trader who made millions, billions way back at the turn of the century by predicting future stock market trends by using the superb Gann Angle System. Just think for a few hundred dollars many vendors are willing to let you find the "Gann Secrets" and help you make millions in the stock market. Drop everything.. we have found the Holy Grail of stock trading.
freerobot2010com for more There are thousands of books about Forex.There are fresh statistics and courses of currencies of all the countries. For newbie there are really useful video tutorials about how to start work with Forex. And there I found this pretty good robot that work really good because it based on new technology.