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I have tested it and it does appear to recalculate properly as far as i can tell
I have been using this indicator for a long time with no problems, I have also got the same indicator with a separate Data window for the High/Low figures instead of having the comments on the chart.
Murrey says that all markets traded on Base Ten will reverse off 3/8th (37.5%) or 5/8th (62.5%) inside any of his (17) different MM Trading Octaves starting as low as Murrey’s MBA: 0.00152587890625 : Murrey’s Binary Algorithm discovered in 1992-93.
Murrey also uses five Master Squares which are 100, 1’000, 10’000, 100’000 & 1’000’000
I trade cable and use one of Murrey’s Trading Octaves.
Price of cable at time of writing is 1.9623 and my Octave’s 8/8ths is 1.9775 & 0/8th is 1.9287 (0.0488 frame size). To go up or down an Octave I simply move it up or down by 4/8ths.
How is the Octave selected using Murrey’s (17) different MM Trading Octaves?
Here is the answer...
Cable is 1.9623 so we use the Master Square of 100 (red denotes division by eight)
1) 100
2) 50
3) 25
4) 12.5
5) 6.25
6) 3.125
7) 1.5625
8) 0.78125
9) 0.390625
10) 0.1953125
11) 0.09765625
12) 0.048828125 - My Octave’s 8/8th Frame Size
13) 0.0244140625 - My Octave’s 4/8th
14) 0.01220703125 - My Octave’s 2/8th
15) 0.006103515625 - My Octave’s 1/8th
16) 0.0030517578125 - My Octave’s Baby 4/8th
17) 0.00152587890625 - My Octave’s Baby 2/8th & Murrey’s Binary Algorithm base
Murrey’s Software program searches out the nearest 4/8th – which is number 13) 0.0244140625
How do we find this 4/8th
Simple, the nearest fractal in the list to 1.9623 is number 6) 3.125 (above 1.5625 & below 3.125)
We want to trade two levels below our fractal (which is 3.125/8/8 or 3.125/64)
Dividing 3.125 by 64 would give us our Octave frame size 0.048828125
Dividing 3.125 by 128 would give us our 4/8th 0.0244140625
Therefore 4/8th = (MathFloor(1.9623/(3.125/128))*(3.125/128)) which equals 1.953125 (see 4/8th 1.9531 on chart below)
And 0.0244140625 which we add to give 8/8th = 1.9775390625 or 1.9775
Our 0/8th = 1.9775 – 0.0488 which equals 1.9287
I hope this explains the Traded Octave that I use for cable.
Xard777
The Octaves are super - beautiful! Thank You very much!
I've been trying unsuccessfully to buy a copy of T.H. Murrey's book.....the official website seems dead and I get no response to emails. Does anybody know where to buy a copy?
I've been trying unsuccessfully to buy a copy of T.H. Murrey's book.....the official website seems dead and I get no response to emails. Does anybody know where to buy a copy?
Thanks,
Rapid.
I have a book on Murrey's, can sell to you, cheaply
Petor
Linear Mode
