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Thanks, I got my indicator working now, could you post a template for your setup as shown, so I can get mine to look like yours and I can understand your analysis, thanks
It is not a system. I just attached indicators to the chart. Chart fitting. And not "fitting" even because default settings.
Anybody may improve it of course.
Strong uptrend:
blue solid line is above blue dotted line and blue solid line is above brown solid line.
Strong downtrend:
brown solid line is above brown dotted line and brown solid line is above blue solid line.
Non-trading zone (NTZ) for sell:
brown solid line is below brown dotted line.
Non-trading zone (NTZ) for buy:
blue solid line is below blue dotted line.
Correctional buy:
blue solid line is above blue dotted line and blue solid line is below brown solid line.
Correctional sell:
brown solid line is above brown dotted line and brown solid line is below blue solid line.
So, using this indicator we may describe about the price. And every time we will have the market condition for sell and market condition for buy in the same time.
And sing this indicator we may analyze or "predict" something like:
- if correctional buy will break the ... level it will be strong signal for long.
- if ...
- if ...
In H4 and D1 timeframe it is may be different concerning correction (correctional buy/sell).
how would you describe the signal right now in cable 5mins, after this long move?, i see red dotted line below red line and blue line below the dotted line, would you say its short or buy strong or weak? Seems would be a correctional sell, those correctionals are good signals to trade or not?
how would you describe the signal right now in cable 5mins, after this long move?, i see red dotted line below red line and blue line below the dotted line, would you say its short or buy strong or weak? Seems would be a correctional sell, those correctionals are good signals to trade or not?
Full explanation from the image attached (see comments on the image).
This template is from my new asctrend M5 system which I am testing in elite section. One of the templates. There are 3 totally. Sorry for promotion
Please note that everything which I wrote to the image is related to the market condition only. It is not like "open buy" or "close buy". Just a market condition. To get the signals to open the orders you probable need some other indicators togehter with this one may be.
Now is correctional sell on GBPUSD.
I call it correctional trend. May be, it is not right term/word but you understand.
Correctional trend:
- correction
- correction of the price movement
- sell for a while after and before buy;
- counter trend
- Firebird is working fine
- DayTrending3 EA made profit
and so on
Last edited by newdigital; 12-19-2006 at 03:10 PM.
I've got a question about the indicator this thread was initially about - the noLAGMAv4 indicator.
for example in the image below would you enter in a long position at the first red arrow (when the indicator changes from red to yellow) or the second red arrow (when the indicator changes from yellow to blue) ?
Which settings would be good for mtf absolute strenght for 30mins or 1hr? how would you change the correction signals?
I am using this "correctional evaluation" for M5 chart. H4 and D1 is different. For H4/D1 I am using normal (not MTF) indicator and it is different estimation of the correction for H4/D1.
This indicator is not giving very earlier signals. Especially on H4/D1 timeframe. Just for example: in the moment I posted my image to you on this thread about GBPUSD M5 timeframe I had the other image. H4/D1 and it was uptrend. Because it is very difficult to deal with this indicator concerning correction on nigher timeframes.
I can use this indicator just for market condition evaluation. Not for trading. We may get good "image" about were we are and what will be with the price in the near future.
Because I woke up in the morning, typing on the forum, visiting the threads and after that only I am openning Metatrader. And if I want to know about what was happened with the price before, what is going on now and what will be in the future so I will use this indicator. The same with 'Information' in airport
As to settings for M30 and H1 so I do not know yet.
Seems would be a correctional sell, those correctionals are good signals to trade or not?
Linear Mode
