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On some occasion the gold line will also draw 2 horizontal lines, acting like support & resistance, like the usdcad right now.
Hi matfx,
I like this your image:
because it is real price story in action.
==========
As to market condition tools ...
MrTools created it for Ichimoku using some of ichimoku signals ... (some of 6 for example) ...
but I can say that it is really really difficult:
- with ichimku - we can know when trend started and when (dd/mm/yy) it will be finsihed and what will be the next one;
yes, it is our goal to have it with ichimoku. It is a lot of job to do ... with description and so on ...
For now (for quick coding) - MrTools created this market condition indicator for AbsoluteStrength:
- pros - simple to check and to see
- cons - we can not know when the trend started and when it will be finsihed and what will be the next one (means: no any forecasting).
but anyway - it is something to strart with.
As I said - Mladen created the bridge between EAs so it will not be big problem to connect market condition tool with any EA for example.
After some testing/improvements inside elite section - this very simple market condition tool will be posted/uploaded to this public thread (as I promissed) for next possible ideas to improve and so on. So, nothing will be hidden in anyway.
Hi ND,
Since learning about ichimoku few years ago, i can't get my eyes out of it. It is my major tool to estimate the market condition from bigger picture. If there is ever any EA is going to be created for maksigen trading, it should be include with ichimoku. Just my opinion.
I am not sure whether Sergey even look at higher timeframe for market condition, because the Alpari old forum wasn't exist anymore.
maksigen continue...
First group, usd/chf and usd/cad.
Second group, eur/usd and gbp/usd.
Third group USD/JPY and EUR/JPY.
No, one time only.
Because I did not want to wait 5 minutes on M5 timeframe when bar will be closed (the lines will be on the chart only when current bar will be closed. using M1 - I will wait just 1 minute.
I am talking about red/blue dotted lines only.
Timeframe to trade:
M1, or M5, or M15.
How to select timeframe for me?
It is indicator which is drawing support/resistance lines based on some number of the bars (8 bars by default settings).
In case of M1 timeframe - we will have many good signals (price crossing the lines) to trade, but many false signals too.
In case of M5 timeframe - lines will have different location (because 8 bars on M15 are not the same as 8 bars on M1).
We can select timeframe according to our experience, volatility of the market and so on.
Example, if you select M15 timeframe so we can wait whole the day without any signal ... but we will have less false signals too.
red/blue dotted lines.
Those lines (red/blue) will be started to be appeared only when bar will be closed.
For M5 timeframe - you need to wait 5 minutes max for the bar to be closed and for those lines to be on the chart.
For M15 timeframe - 15 minutes max.
So, I am switching to M1 timeframe (1 time only), and in this case - I will wait 1 minutes only.
It is one time only when I open Metatrader or attaching indicator to the chart.
What this indicator is doing?
This indicator is drawing support/resistance/trend lines automatically for intra-day trading.
Traders created it because it is difficult to draw those lines manually in case of lower timeframe.
Metatrader statement updated (initial deposit is 500 dollars):
And it is visual statement (same trades/account) - as a rocket to the sky with annual ROI 20,216%
Total trades :100
Profit factor:39
ND
You are hell of a trader
you can easily kick those asses in JP Morgan:p
It is comfortable to trade if we know where the price will go to
for the next days (I am talking about EUR)
How do you estimate the next day price?Range estimation with NN?
I was talking about EURUSD for the past few days ... by watching TV for example
It was started in the beginning of May: