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Originally Posted by PipRippy
Simba-Tx for the info! The info about using the instaneous trendline for Range/trend is something I did not read about, I knew he had to have something for this. I am going to take some time and look into how you use the indicators in different combos etc..
I can understand "trader talk"- so it is good to hear how another trader would actually use these indicators etc..
I will say this- your setups appear to be very similar to the way I like to use DMS/ADX on Daily and 4hr timeframes to find a good trend. Then I would drop down to 5min-15-30-1hr and use price action and other indicators for entry/exit. I am assuming that these ehlers indicators are more efficent and show changing conditions better(quicker) over traditional indicators.
I will post any more questions later. Although I am still interested in setups and general combinations. Ty again
M Rippy
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Hi ,
This is just a basic example to give you an idea of another variation..please see pic
MTF INST TRNDLN at D1 tf on a 4h chart
Fisherized version of RVI posted by bluto a few posts ago..set to 22 periods in 4h-there is a very strong and consistent cycle in 4h and d1 tfs of about 45 periods..so,half the cycle length is approx 22..
As long as the trend is estimated at least one tf UP(this case D1) than your signal tf(this case 4h) your risk is low and you have a fair share of good signals..
Other "empirical " rules,for cable 1H/4H, I have devised are to take the signals coincident with potential rebounds on the trendline,and to avoid,unless confirmed by other indicators,taking signals when price has closed above/below the trendline more than 40 pips(example:downtrendline price is above the trendline with a close 50 pips above it,and there is a signal..I don`t take it..result is too random for my taste)..
Hope this helped ,and find attached my version of mtf instant trendline.. it is for D1,but you can change the tf just by modifiyng the code..
Simba