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Originally Posted by atiyya
Yes Sure , First you can read the book "Trading with Dinapoli Levels "I guess it is already posted here in the forum ...
The idea of the MACD and the stochastic is same as normal one but with modified parameters and usually when the daily macd is crossed up and above zero then we look for buy signal from lower time frames for example the 1 hr frame , so we look then for both macd and stochastic on lower time frame to be just cross up for buy ... and the same idea for example the weekly macd is up ... but the price is going down then it is buying opportunity to wait on daily time frame till we have macd and stoch cross up so they will combine with macd weekly and then we will have big big move ...
For the Detrend Price Oscillator we compare the history levels on which the price reverse compared to DPO then we identify o/s or o/b accurately
I hope the above help but pls read the book ... it is all there
So anyone can help us in having MT4 versions of these dinapoli indicators
thanx
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Hello atiyya,
I was reading the book the past few days and I am trying to put it together
in a way I can use it.
What I came up with so far is this:
1. I determine the "trend" as explained by Dinapoli on the daily chart.
A close above the 3x3 and fast line over slow line on the DEMA = Long Trend. And vice versa for short.
2. Down to the 1 hour chart.
I determine the OB/OS levels for the 1 hour chart bases on the past few extremes on the detrend.
3. If the daily trend is long, I look for buy opportunities on retracements (dips).
Buy signal if after a dip:
a) close above 3x3, and
b) DEMA fast above slow, and
c) detrend not in overbaught but rising between the zero line and 65% of the average extreme, and
d) dinapoli targets indicator is signaling a buy
4. Stop and Profit Targets
Stop Loss is calculated below a fib resistance, as far as I can see.
Profit Targets are calculated too, depending how much space detrend has left to travel one could chose
one of the 3 targets given. (I checked the targets manually, and they are the same as the original formula.)
5. Close the trade if
a) Chosen Profit Target is hit, or
b) Detrend is engaging 90% oversold, or
c) Close below 3x3, or
d) DEMA fast closing below DEMA slow, or
e) Stop Loss is taken out (should basicly never happen).
Thats it for now.
I will attach a chart of a GBP/USD trade I did yesterday.
Even though I am sure 99% of all methods would have picked up on the move.
Any comments appreciated.
Maybe you could elaborate a little further how you get your entries on
the smaller time frames?
EDIT:
Entry was the dotted white line at 7439 and my target was the yellow dotted line at 7481.
Linear Mode
