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Sparrow

GuppyMACD for NT

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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:

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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

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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.

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