For the benefit of those not using Metaquote's excellent MT4 platform I will try to list the settings of the moving averages I use here.
Later I will add some charts.
As we are dealing with just 3 timeframes I use moving averages and CCI's from higher timeframes in order to see the bigger picture.
On my 60m Chart I will use a 20&50 moving average from my 4hrly chart to save me looking at my 4hr chart, on my 15m I have my 60m settings and so on.
Remember the keeping it simple !
Each of the 3 charts will have 6 moving averages and 2 CCI's
OK, so onto the 60m chart first.
(I'll put my colours in brackets so you can easily translate my charts)
I want a 20 exponential (faint pink) and a 50 simple (faint blue) moving average.
These are to be displayed on ALL timeframes.
I also want an 80 exponential (red) and a 200 simple (blue) These are my 4 hr m.a's and are to be displayed on the 60m chart AND 15m chart only. On the 15m chart these are my 60m averages.
I then want my daily m.a's, so it's an 80x6 (4hrx6=24hrs) 480 exponential in thicker red or crimson and a 1200 simple in thick blue.
These are to be displayed only on the 60m too.
Now I have my 60m/4hr/daily 20&50 m.a's on my 60m chart, 6 in total.
The 20&50 should also now be showing on the 15m and 5m also.
Also add a 21CCI to be visable ONLY on the 60m chart, and an 84CCI to be visable on both the 60m and 15m.
The 15m chart should come next and you should already have the standard 20&50 from before, along with the 80 & 200, which on the 15m chart are our 60m 20&50's
Now add a 320 exponential in thick dark red and a 800 in thick dark blue, visable only on the 15m chart and you have your 4hr 20&50 moving averages on your 15m chart.
The 200 doubles up as not only your 200sma but also the 50sma from the 60m chart, whereas the 800 doubles up as the 50sma from the 4hr as well as the 200sma from the hourly chart.
The CCI settings for the 15m chart are 84 (which you sould already have on there) and a 336. This is our 4hr 21 CCI (21x4x4=336....15mx4x4=4hrs)
So thats 2 timeframes, each with 20&50's from 3 timeframes (6 in total) along with 2 x CCI on each, yes?............Brilliant.
Under normal market conditions we would need just this set-up to get going, but with sentiment changing daily at present, with not one single currency looking especially strong we need to nip in and out of the market with 20,30,40,50 pips. It's pretty tough for everyone right now, but by introducing this little baby, we can get a bit of an advantage by using the 5m entry.
We should already have the standard 20&50 on here, now we need to add 4 more moving averages and two CCI's which are to be visable ONLY on the 5m chart.
We need a 60 exponential in red and a 150 simple in blue. these are our 15m 20&50.
We also want a 240 exponential in thick red and a 600 simple in thick blue, our 60m 20&50.
CCI's on here are a 7 and a 63. 63 being 3x21 (3x5m=15m), our 15m 21CCI.
Finally, we add the Pivot points indicator, which I will post next time.
So to re-cap. Each timeframe should have 6 moving averages and 2 CCI's
Save this template as 'Pimpology' and we're ready to move on to some analysis.
This might seem a little confusing at first but it will come, I promise. It's essential you set this up for yourself so you know what is what and become more familiar with what I am going to talk about later.
All you need to do now is open the 6 charts, Crude Oil, Gold, GBPUSD EURUSD USDCHF USDJPY and tile these.
Next we'll talk about analysis.
UPDATE: FOR VISUALISATION PURPOSES SOME OF THE SETTINGS HAVE BEEN CHANGED. THEY ARE ALL THE SAME AVERAGES AND 21CCI, BUT THE NUMBERS WILL BE DIFFERENT ON DIFFERENT CHARTS. PLEASE EMAIL ME FOR ALL UPDATES.
thefxpimp@hotmail.com