Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Sparrow

GuppyMACD for NT

Recommended Posts

Hi Sparrow. My apologizes for my delay to answer your request, but you know, the rest days... I just read this thread yesterday....

 

I requested for help to do the Guppy MACD and Sparrow helped me to do this indicator to use in NT. Thanks again for this, Sparrow.

 

I am learning to use this indicator. I am not a master to use it. I am trying to substitute the indicator BoP used in the strategies of walterw. I am using it to detect divergences and also to filter the signals of the FXST3CCI indicator.

 

Walter suggested the signals of the waves of the FX Snipper that exceed the levels of 50 and -50, but besides to obtain the divergences with the G-MACD, my intention is to take waves of the FX Snipper that correspond to continuation, cases in the FXS does not exceed the levels 50 or -50, sometimes, it does not exceed the zero level.

 

I attached two charts in order to explain some basic uses with it. You can see there that but as it is, I believe that it is a good indicator that provides with much information, I do not know you who think about it... but remember, the most important always are the patterns, not the indicators....

 

Cheers.

 

Cattus

My best desires to all of you for this new year 2008.

 

 

 

 

I attach two charts with some signals.

5aa70e312d481_ExG-MACD1.thumb.png.1320d4e4c24d63023444ad30f406d43d.png

5aa70e3134059_ExG-MACD2.thumb.png.a4d4079373265eca7491bd881f71cb98.png

Share this post


Link to post
Share on other sites

Hi Cattus,

 

thank you very much for your explanation. I'm having my doubts about indicators recently, I'm focusing more on price action. Indicators have their use, otherwise auto trading wouldn't exist or Ronin wouldn't look at MACD/Sto/RSI, but I just can't seem to get anything out of them myself. I believe the main ingredient to Walter's system is Walter. Sorry for rambling :sleep:.

 

Good luck Cattus, have a great 2008.

Share this post


Link to post
Share on other sites

Hi Sparrow.

 

I know that you understand the importance of the price action, but anyway, let me tell you that about the different areas of the analisis, I have the following order of importance for those areas:

 

1st. Structure. There are important levels for each pair or another kind of instrument. The price moves from one level to other level.

2nd. Patterns. When the price react to the levels create patterns. Some patterns work better than others in order to predict the action of the price. Ms(Ws) are a good example of some kind of patterns.

3d. Indicators. It help to us to understand the momentum, to see specific signals, to see the action of the price like an oscillator (with its benefits), etcetera.

 

I always try to understand the market in my analisis by those order, but let me tell you that I fight all the time in order that the indicators does not rob all my attention, because it happens to me very frequently...

 

Well, I just wanted to comment that....

 

Cheers.

 

Cattus

Share this post


Link to post
Share on other sites

Excellent approach Cattus :thumbs up:

 

I am currently looking into S/R levels but far too early to see if it will be successful or not.

It's difficult dealing with fake outs, waiting for confirmation increases risk and lowers profit potential.

 

Cheers

Share this post


Link to post
Share on other sites

I define in a simplistic form the structure of my charts, of the pairs like EURJPY:

 

Psychological levels: .00 or .50

Possible psychological levels: .20 to .25 or .75 to .80

High of the previous sesion

Low of the previous sesion

Open of the sesion

Pivot Point (only the central pivot point)

And to identify intraday important levels, I am using the indicators Swing(5) and Fractals.

 

Continuous reactions of the price on those levels indicate the strongest levels.

 

I do not use data of volume, because unfortunately the volume in the forex is not credible. The volume data can be very slanted to the data and strategies that use traders from where those data come.

 

All the levels I put, I understand that can be zones, not precise points of the price...

 

When you identify some techinques I will be happy to hear about them....

 

Salu2. :)

 

Cattus

Share this post


Link to post
Share on other sites

I think we are looking at the same things then, I don't use the open though.

Here's something you don't have yet. Found it by accident today.

 

I'm just trying to scalp these levels, but since they are zones as you mentioned, it is quite difficult to tell if price will go through or reverse. I don't have any intention to go back to indicators.

 

Here's a link against MACD btw.

 

Cheers

Share this post


Link to post
Share on other sites
I think we are looking at the same things then, I don't use the open though.

Here's something you don't have yet. Found it by accident today.

 

I'm just trying to scalp these levels, but since they are zones as you mentioned, it is quite difficult to tell if price will go through or reverse. I don't have any intention to go back to indicators.

 

Here's a link against MACD btw.

 

Cheers

 

 

Well, I think that the Structure and the Patterns are the kings, but I also think that the indicators are good tools of support, but if we choose just one or two and study them in depth, very deeply... it is my opinion, but I can be wrong...

 

The links you put here looks very interesting, thanks.

 

Cheers.

 

Cattus

Share this post


Link to post
Share on other sites

I've met some people who rely heavily on their indicators and are successful traders. If you know what to expect from your indicators during certain market conditions then they can really be an aid. Unfortunately I'm haven't been able to do that yet, maybe I have to test 100s of oscillators like Walter did(and in the end go back to the CCI) before I reach that stage :D.

 

Here's another post that is critical of indicators.

 

Cheers

Share this post


Link to post
Share on other sites

Hay Sparrow, the "post" does not work...

 

mmmm, some persons make money in the trading with indicators, others with the price action... others with both.... each of us have to choose our comfortable strategies to reach the success...

 

I have been thinking about the techniques purposes for our friend Walter, in the thread

http://www.traderslaboratory.com/forums/f34/s-and-r-scalps-2990.html,

they must be good for your intention to scalp the levels...

 

Cattus

Share this post


Link to post
Share on other sites

Hi Cattus,

 

yep I've drawn a lot of inspiration from our friend Walter, but FX is a difficult animal to tame as a scalper. Dunno yet if anything useful will come out of this research :bad idea:, but I'm certainly learning a lot.

Here's the correct link to the post.

 

Cheers :beer:

Share this post


Link to post
Share on other sites

Hi Sparrow.

 

Ha, ha, ha... Yes, Forex is like a wild wild animal... What are you scalping? e-mini?

 

Very interesting the strategy of Woodie. In fact, like Walter mentioned in one post, the average of effectiveness is around 50 gains:50 losses. I know that some guys have strategies more effectiveness: 60 gains to 40 losses are great numbers. And I think that the comment on the blog is true, the key is the RRR, like Walter have said, because profit:stop loss of 1.5:1 or 2:1 do the work that we are looking for, well, if we have at least an effectiveness of 50:50 :o

 

I will probe the strategy of Woodie, demo of course...

 

.... I am learning too....

 

Cheers.

 

Cattus

Share this post


Link to post
Share on other sites

Hi Cattus,

 

I'm staying on Forex, don't have another choice at the moment, I'd rather scalp futures though because of tape and volume. However I'm open minded and will change my approach if I can find something that works for me. I'm amazed how well the close/high/low numbers work, pivots are pretty significant too. Also Trend lines look very good.

 

The reason I like scalping is that you can have a very tight stop, and as a consequence use more leverage than for e.g. swing trading but not too much of course. A few small profitable trades and you're done for the day but the setups need to be very good.

 

... and that's where I'm stuck at the moment.

 

Cheers.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.