You could write yourself the question directly to him, honestly, I was asking him the same questions and he advised me to look carefully for the answer in his book.
The answer to the first question I found in the first chapter of Book 2.
In particular, classical literature authors messed things, without giving a precise definition.
Masterforex-v was thinking long time on this issue.
And finally withdrew his trend classification that I’ve been using so far, as his findings are not theoretical but practical.
So the trend definition:
"Trend is aimed price movement between the two turn figures on the opposite sides. Movement on every trend is zigzag - after each wave of momentum is a wave back. The ratio of momentum and a correction shows the direction of trend."

This is a simple truth, not described in any book available to you.
Trend classification:

1. Intrasession trend emerge in the trading day, it is usually monitored on the 15 minute time frame.
2. Weekly trend is within a week, monitored hourly and 4 hour time frame.
3. Few weeks long Trend can be seen on the daily time frame.
4. Few months long Trend of weekly and monthly timeframes.

That means when we have all 4 trend the same direction then we have currency movement potential during the day on GBP / USD of at least 200 points.

What are the 4 grids of resistance and support levels?

It is not yet in his online book I have only learned this from personal correspondence.
He uses Fibonacci numbers to define support and resistance levels.
Grid levels are: 11.8, 23.6, 38.2, 50.0, 61.8, 76.4, 88.2, 100.
Each grid level corresponds to resistance and support level.
The convergence of different nets around time frames increase importance of the s/r level by many times.
See Figure…


I think was able to give enough explanations.

Yes, I’ve heard about the use of Fibonacci levels, but didn’t apply them to practical trading as I thought them too difficult to understand and use, could you advice me something to read about them?

I find the Fibonacci levels to be the most accurate instrument I ever used on Forex. You can read, for example, this book of R.Fisher about the Fibonacci levels.


There is a very good explanation of the Fibo levels in that book, but there is no exact rules of trading with the Fibo levels, the rules you can find in Masterforex-V books with further explanation why those levels work on Forex.

I’ve read lots of books when I was only starting to trade on Forex, but I never seen any exact rules of using the Fibo levels before. Even those traders who use the Fibo levels in practice could not explain how they use those levels exactly.

İs there any zigzag indicator based on Fibo levels(multı time frame?) rather than high low?

\\Try this one

Attached Files

ZigZag_test.mq4 (15.8 KB, 25 views)

Try this great indicator...I'm not using this right now ...so I don't know how to determine the entry point using this one

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Forex Indicators Collection

Attached Files

ZUP_v60.mq4 (218.7 KB, 26 views)

Dear İncrease and Prasxz,

Thanks for the help,much appreciated.

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Any nice S n R indicator to recommend??

sonic

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