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Sorry, I can explain that. Yes, I have very much lines on my chart now. But as you can see they are all colored. I made them like that only for a test, after few morons on another forum and FB (and my “friends”) were saying that I’m liar etc… I made them all colored because i wanted to see what lines are best for these reversal. If its 1H, 2H, 3H etc…
Most of the time i have 5 lines and two are very close to themself for example 5 pips. So you will take those 2 lines, you see 5 pips reversal place. Ok? It’s clear?
Hi, thanks for clarifying and sorry: no, it’s not clear to me:
So you will take those 2 lines, you see 5 pips reversal place. Ok? It’s clear?
I’m afraid I just do not believe that horizontal lines are providing any edge in trading when I do not know anything about the algorithm that calculated those levels.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Well its simple. Instead of using only one horizontal line as reversal point (resistance or support), we use resistence or support from level for example 1.10 to 1.1015. So we have 15pips big place where we can sell or buy. Damnt, i have problems with english here. :X Sorry.
These S/R I have on chart are made when price move up, support become on X level down. If price goes down, you have next support above. Its up and down. Always.
So we have 15pips big place where we can sell or buy.
I’m sorry, but this does not sound like a causal strategy for me. Basically I know how most people who believe in them draw those S/R lines. But that knowledge does not help me to believe those levels good for something.
Let’s simply state that the two of us seem to have pretty different approaches to trading logic. I’m not convinced regarding your approach, and I have no reason to convince you about signal processing and statistics.
By the way: did you process any methodical statistical analysis regarding success versus failure of your approach?
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
I don’t use strategy explained above. I mean that 15 pips place where price COULD reverse. I only use levels where price WILL reverse. I also shared signals on FB mostly where my friends could see it. And it was very popular actually. However after few weeks some of my friends started lying about my system and trades. So I totally stoped sharing anything. It was just waste of time. On internet, there are also some systems are made. Quite popular. But of course, none of them have my name in readme. People just take my work, edit it a bit and say “hooray, i made great system, so here you go”.
That’s the reason why I’m here. This what I shared here is my best work ever. Works 95% of time. Succes ratio can be even more, but it’s hard and something is missing. I need some kind of help. Problem is I can’t explain how exactly this works and how it’s calculated. I’m more trader then someone who can explain things behind scenes. :/
People always tell me what they “don’t understand”. And I accept it. It’s not something you can do in few minutes. But these horizontal lines could help you find places where price will reverse immediately or simply don’t reverse at all. Normal resistance or support works differently. You need to wait for price to get on that S/R and then wait for some kind of pattern or nonsense like that. I don’t need to wait for anything here.
Lines you see on my charts are made in advance. This means you can see and backtest how it will work. I also see old resistance or support on chart, because indicator that help me to make these doesn’t repaint. It just show me high or low. Simply. And on this high you should sell or you should buy on low. Nothing fancy. Few years back I used that to make trendlines, not horizontal lines. Work totally same. But it’s pretty confusing to use TL and horizontal lines. Because chart will be like spider web. Not good.
I need only filter. As you said before. :) Because – “too much lines now”. And I agree. I need to fix this. Somehow.
If you want to tackle s/r (horizontal) lines, here s an idea for you. As we know the big players move the price against the held profit.
Easiest to identify held profit is to search for BO lines from which there was enough momentum. Momentum is identified with big candles (0-50% zone) or series of successive bull/bear candles.
I m prety sure, this can t be coded in satisfactory fashion, as it requires mtf analysis and because these lines/zones are drawn based on few different ways, not just one. Sometimes the zone is on the pivot, sometimes it s a BO line, sometimes it s 0-50% zone of a momentum candle.
But i always wondered, why there are so many suply/demand indicators and none of the let you define zones based on momentum exit(in pips).
@mak:
Thanks for your ideas, and I agree:
Sometimes the zone is on the pivot, sometimes it s a BO line, sometimes it s 0-50% zone of a momentum candle.
This can’t be coded easily without utilizing random number functions. Too much ‘sometimes’ involved in the algorithm. I prefer strict rules: if … then … else …
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
what George showed that in fact levels of supply and demand. Yes they often practiced, but the problem is that in probability the more often the price went from level the greater the probability that next time she won’t turn around and punch him. if and build lines on the chart a grid or Gann angles.TMНичто не ново под луной:
Что было, то и будет.
Я завершаю круг и - вновь
Готов бежать по кругу...Exactly, TraderTM. :) Agree with that. I found interesting that my levels somehow corresponds with supply and demand. It’s more accident then purpose.
Today we see new action. All charts agreed on one price. And that is cca 1.1220. (Plus on tick chart, fast moving averages were below price so this means BUY) On upper right corner we have 1.1264 level, I can say there will be break or at least big drawdown. So don’t trade these. Good thing is, if you have fast move down or up. Then price have more chance to reverse. You can see it on chart actually.
@George: May I ask if this has to do with the ideas of CrucialPoint and/or EURUSDD? If not, have you already read some of CPs post for which I gave you the links?
‘if and build lines on the chart a grid or Gann angles.‘
Angles? What will happen to your angles if you draw your chart window smaller or larger without preserving the aspect ratio?
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
“Angles? What will happen to your angles if you draw your chart window smaller or larger without preserving the aspect ratio?”the aspect ratio is maintained. actually I don’t always do it in MT4. for builds, there are more convenient programs.Ничто не ново под луной:
Что было, то и будет.
Я завершаю круг и - вновь
Готов бежать по кругу...@George: May I ask if this has to do with the ideas of CrucialPoint and/or EURUSDD? If not, have you already read some of CPs post for which I gave you the links?
Sure. I guess it have something to do with both. But still have problems with completing it. And yes, I read them. My last problem is only some kind of filter or idk.. Some S/R just works better then others. I need to find a way how to find and draw only price levels where price will reverse or at least slow price down and then continue in trend. It’s possible. I know it is. But how? These lines are damnt very accurate, but not always and sometimes you will get SL. Not big actually but still. 5 pips. This is too much for smaller account. For example this was great month. Stoploss was no there because price just moved away in seconds after I opened trade. Maybe it have something to do with time and trend? Sometimes you will find levels that works immediately and after a week, you made them, but price do nothing because there is no trend or anything at least.
Hmmm, ok!
Chart pic or a major accident in a fireworks company?
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Lol.. oh boy.. after all , the quest to find simple trading method, become unfinished business as usual..
But whatever you do, whatever your trading styles.. whatever you just noob like me, or very expert gurus.. , as long as you could reach your goal and make your equity grow up.. then why bother..
I could simply say that you are doing great..
naked chart .. great, tick chart.. great, firework company explosion.. why not.. lol.. it’s your own hard earned money.. so it’s up to you..
I also use my own ‘firework company explosion’ version to learn about ‘angle’ and don’t mad at me, I’m noob remember.. hahaha.
Happy trading everyone..
MTH
Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/because of my bad English it’s hard for me to understand where you say seriously , where in the figurative sense.
for all the market research I found a lot of cyclical patterns that work. they manifest themselves as sacred geometry , numerical mathematics and planetary aspects .TMНичто не ново под луной:
Что было, то и будет.
Я завершаю круг и - вновь
Готов бежать по кругу...Yes, I already noticed that ‘Moon Phase’ Indicator on your chart. For me, this is the part I seem to understand best.
Please never mind. If this works for you, just go ahead and green pips!
‘These lines are damnt very accurate, but not always and sometimes you will get SL.’
Just code some csv export interface for your system, calculate potential trade results based on your entries, and perform a simple statistical analysis in Excel, R, or whatever. If these lines are really providing accurate trading decisions of any kind, honest statistics won’t lie.
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Sorry I can’t code anything. My platform use C# but I can’t code anything expect High – low * X..
I meant TraderTM. (That QUOTE function is still defective).
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Just little update on my post. I said on 1.1264 there will be break or big drawdown. This happens “few hours” later. :)
Then price reversed on very big level cca 1.1335. And this is exactly thing I wanted to show. You can say if price will break or will not, with high success ratio. This way you can get with small stoploss 5 pips even 45 pips or more. If you know trend, you are happy to go. For now sadly with trend. It’s safer.
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