Quote:
Originally Posted by daraknor
I think Xard777's indicators are a faithful interpretation of Murrey Math. I'm not using Murrey Math, but I do use parts of it in calculating things. Sometimes my numbers agree with MM but usually not. It appears GBPUSD is dual compatible with both methods of calculating things and so it is a nice currency to use MM on.
Sometimes I use MM terminology because the same sort of principles apply. My method of calculation is MM slightly adjusted to work for forex. The rules don't work because the market pressures, timing, etc are not the same. For example, Murrey claims that if you have a very steep price incline, that it will be followed by a bounce off 7/8 and then a sharp decline. In forex a steep incline is instant or almost instant during news and it just screws up the Murrey Math lines. It usually takes a news event to violate the lines (of GBPUSD and other currencies it tends to work on) but the speed rule simply doesn't apply to news.
I don't know what P is, I don't use any variable with a name like that. I have a few variables but they are probably very different and since I don't use MM, the values would be different too.
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hi, daraknor, by base of 10 and base 0f 2 what do u mean?
i think u are refering to mulipying the euro by 10,000 or 1,000 working the murrey math lines and then dividing it by 10,000 again. i went through the notes by tk and i found that even though the bond were priced at 0.7 something, murrey rescaled them by 10,000 and i wondered why he just did not use one of the square's he says to use.
my question is in forex do we need to rescale the currrencies to work out the murrey math lines or use the values murrey gives us in the tables?
thanks
05-05-2008, 06:02 PM
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