Competition. I will write an expert for free. - page 3
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Then how do you propose to identify the touch (and, equally, the breakdown) ?
DrShumiloff, Xadviser, thanks for your suggestions. Let's try to figure it out.
The point of the idea of this thread is to show forum visitors a specific strategy. It's difficult to understand what's what based on the information provided by you.
My big apologies. I've attached the picture but the indicator hasn't
The indicator itself draws levels and objectives. (see fig).
Order opening on the indicator signal - "...TD line (...) broken in the point (...) target ..... "comments in the left upper corner of the chart
Closing
Option 1: Definitely upon breakout of the opposite line with a flip (opening a new position), if none of the current targets has been reached. When only the closest target has been reached.
Option 2. Definitely upon the break of the opposite line with a rollover (opening of a new position), if none of the current targets is achieved. Upon reaching Goal 1 (by level, not by numbering in the indicator), we close 1/3 of a position, upon reaching Goal 2, another 1/3 and finally, upon reaching Goal 3.
Then we wait for the new cycle.
indicator itself
Then how do you propose to identify a touch (and, equally, a breakout) ?
A signal to open an "inwards" position:
a) Price has reached the H3 level (no matter how far in) and is currently moving inwards;
b) Indicators are confirming an inwards move
The signal for an "outwards" position opening
- The question is still open.
Perhaps such a signal would be the opening of a bar outside H4 on the half hour.
The indicator draws levels and targets by itself. (See figure).
As far as I understand, the opening is when the long lines are broken through. And the targets at the top and bottom are short lines.
Questions:
1. What role do the slanted lines play?
2. How do I choose one target out of the three? Or... how do you even deal with them? I.e. why are there 3, why not just one?
3. How are SL and TR prices determined?
As far as I understand, the opening is when the long lines are broken through. And the targets above and below are short lines.
Correct .
Questions:
1. What role do the slanted lines play?
The sloping ones are the main lines. Horizontal ones are formed in relation to their position and create a kind of corridor. The indicator is redrawn at every new point and the position of all lines changes. If the order has not been opened, we have new levels of Buy Stop Sell Stop with its own profits. If any order has been opened, we should change the "balance" according to the new data, i.e. set new Profits. A stop is an opposite order.
2. How do I choose one target out of the three? Or... how do you even deal with them? I.e. why are there 3, why not just one?
Unfortunately, I am not the author of the theory (the author of the theory is Thomas de Mark) nor of the indicator. Why the authors of the indicator have set three objectives is also not very clear to me, and the order of their numeration does not correspond to the logical sequence (in order from the closest). That is why I have suggested two compromises.
3. How are SL and TR prices determined?
SL - opposite border of the channel. TP - short lines. Variant 1 is to close by the nearest order of 100%, variant 2 - by 1/3rd upon achievement of each target.
And this is what the situation looks like today. The levels are broken through and the targets are achieved.
Apparently there are two camps:
1. Afraid their strategy will get kicked to the curb.
2. afraid that their strategy will be taken over by the masses.
i need a simple indicator, the line attaches to the Ask line and moves together with it. i don't see anything else on the chart, only on a new bar.
i need a simple indicator, the line attaches to the ask line and moves together with it. it does not show anything else on the chart, only on a new bar. it cannot even be called indicator. thank you in advance.
>> as soon as i can find the time.
And this is what the situation looks like today. Levels have been broken through the targets have been reached.
similar indicator
http://narod.ru/disk/1353353000/02-OZ-RADA-D1.mq4.html
I apologise for the interruption in the dialogue (I had to go out of town urgently for a couple of days).
Now, if you don't mind, we can continue.
Xadviser, everything seems to be mostly clear.
The question is: what is the best way to program - to simply open market or hold pending stop orders at internal levels?
If we open the market ones, then the related question is how to identify the breach - by a simple touch or with some tolerance?