Writing an effective advisor - page 28
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In this example, both red and blue trendlines have been drawn when the price is at a level equal to the +/- level of the breakdown of the trendline itself. How much (in points or % of a wave) can be earned on it?
At that time, we obtained a little more than a thousand four-digit points on the euro. But this was a lucky one. At other times it was smaller, of course.
And what about "that example"... We build kind of a trend line... And catching the trend. Do you see a trend in that picture? I don't. Consequently, we should be glad that we won't lose anything, if we enter on these lines.
I'll start then - if you don't mind -
added lot increase at the next position (in yellow where I dug and changed)
Let's start with this and we will add, little by little, the necessary functions (buttons added - so you can check all the functions that will be added)
Let's start there and add the functions we need (buttons added - so you can check all the functions you want to add)
It all depends on the order in which the maximum is defined. A classic fractal is five bars, with the middle one above (below) the others. But, in this picture the highs are not drawn according to fractals.
Now I will take the current chart with classic fractals and draw a line. Hang on a bit.
Here. The current chart of the Eurodollar, watch. If we mark highs and lows with fractals, there are two trend lines in the chart, both have already been broken through; the moment of their construction is marked with arrows. At the moment of penetration the lines break off. A third, descending line will be drawn through yesterday' s 8 o'clock and 18 o'clock fractals. It should be drawn as soon as price drops below the 15-hour low.
Now switch the chart to a lower timeframe and repeat the drawing. The fractals have become the tops of some zigzag, (which we still need to select, because there are more of them).
We draw a line. Oh my god! It is different... It has a different slope. And in general, all drawing does not coincide with that carefully drawn according to the clock, it may even contradict.
So the lines you draw, they are at least not quite lines - cones/segments... And if you are shown a chart drawn by someone who actually trades waves or a chart layout - it will be marked there, that you have lines, there it is a diverging segment and not always narrow.
Then we switch to a higher timeframe and everything is different there and all the work is in vain.
Now switch the chart to a lower timeframe and repeat the construction. The fractals have become the vertices of some zigzag, (which still need to be selected because there are more of them).
We draw a line. Oh my god! It is different... It has a different slope. And in general, all drawing does not coincide with that carefully drawn according to the clock, it may even contradict.
So the lines you draw, they are at least not quite lines - cones/segments... And if you are shown a chart drawn by someone who actually trades waves or a chart layout - it will be marked there that you have lines, there it is a diverging segment and not always narrow.
Then switch to a higher timeframe and everything is different there.
Now switch the chart to a lower timeframe and repeat the construction. The fractals have become the vertices of some zigzag, (which still need to be selected because there are more of them).
We draw a line. Oh my god! It is different... It has a different slope. And in general, all drawing does not coincide with that carefully drawn according to the clock, it may even contradict.
So the lines you draw, they are at least not quite lines - cones/segments... And if you are shown a chart drawn by someone who actually trades waves or a chart layout - it will be marked there, that you have lines, there it is a diverging segment and not always narrow.
Then we switch to a higher timeframe - everything is different there and all efforts are lost.
What do you mean all the efforts are for nothing?
I specifically pointed out that minimums and maximums do not necessarily have to be fractals. You may use the pattern with seven bars instead of five. And moreover, asymmetrical ones. And the layout of lows and highs could be different, the trend lines would lie differently.
And you are right, when we move to a smaller timeframe, the fractals will be different there, and the trends will be different and there will be no need to choose - we take ALL fractals and draw several trends according to the adopted method. When we move upwards, the trendlines will be different. What is wrong?
Here is, say, my old chart where ALL trend lines are plotted - the Eurodollar days (in this case the lines are plotted a bit further than their breakdown).
What do you mean by "all the work for nothing"?
I specifically pointed out that lows and highs do not have to be fractals. You may use the pattern with seven bars instead of five. And they should be asymmetrical. And the layout of lows and highs could be different, the trend lines would lie differently.
And you are right, when we move to a smaller timeframe, the fractals will be different there, and the trends will be different and there will be no need to choose - we take ALL fractals and draw several trends according to the adopted method. When we move upwards, the trendlines will be different. What is wrong?
Here is, say, my old chart where ALL trend lines are plotted - the Eurodollar days (in this case the lines are plotted a bit further than their breakdown).
Okay, so with a bit of a struggle you found the trend. What are the next steps, where is the entry point?
You're not asking me that. I just said that the trendlines are quite well built in automatic mode by the Expert Advisor.
Entries are what the author of TS says about it.
If we are talking about this particular chart, the entries were made in the direction of the trend, based on combinations of candlesticks. I do not remember exactly which ones. It was a long time ago - look at the dates yourself.
You're not asking me that. I just said that the trendlines are quite well built in automatic mode by the Expert Advisor.
Entries are what the author of TS says about it.
If we are talking about this particular chart, the entries were made in the direction of the trend, based on combinations of candlesticks. I do not remember exactly which ones. It was a long time ago - look at the dates yourself.
Unless you've built a trend line.
The clowns just don't see them, Vladimir.
And there are several of them in the graphs above.