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H1-chart Details
Having said all of that above, here is the screen-print of the H1-chart and a very brief description of how to interpret the indicators as most of it is covered in the Post on the H4-chart.
It was an "oversight" on my behalf and I apologise for that, that I did not mention the EMAs that I use on the H1-chart. These are 8; 15; 34 and 60. I use the 60-EMA as my "Trend" indication and the 15-EMA as my "directional" indicator. In spite of everything else (like the 100-EMA where the price often will bounce), I find that I do very well by just using the 4 mentioned. In the H4 chart description, I forgot to mention the ENTREX-H4 indicator. This is a brilliant piece of work, but Prasz does not give us the mq4-version so be grateful we have it anyway. In the most uncanny way, when the price reaches the ENTREX, whether on H1 or H4 TFs, the price will either move sideways or retrace from it. Sometimes it "hugs" the ENTREX line for a few candles especially on the H1. I also forgot to mention the TRO_BUYZONE_History indicators for the Daily and H4-TFs. These are indicators changed for me by my friend Gerhard (DayTrader) from the original that we found. They are Pivots and I find them excellent, especially after every 4-Hour change-over. These are excellent Resistance and Support levels. I apologize for having ommitted to clear that up at first. The CCI-5/15 remains the mainstay for me when it comes to entries and in many cases also in exits. You should know by now how to trade the CCI effectively and if you don't, go back to the beginning of this Thread where I have described it in more detail. For saving space, I have combined the RSI-2 / 4 and 8 in one window. It should be read in conjunction with the H-4 chart and interpretation is the same for all TFs. The third window is the MTF-RSI set @ H4 and very accurate. It only resets itself if you either change TFs or open and close your PC. In real time it is extremely accurate and I urge you to respect it. Lastly the XO. Sadly (for me that is) this is the only time where I now use this incredible indicator. Settings are H1/H1/H4/H4 with KirPERs @ 6,5 / 6,5 / 4,5 / 6,5. I tend to ignore the full signal but will always obey the move from full to half which indicates that one of the TFs is in the process of changing. I will quite easily enter a trade when the RSI and CCI set-up is correct and the XO is not FULL ON yet. It has not failed me yet. Wishing you many more pips ahead. Please feel free to discuss and/or suggest improvements that can be made. I am willing to listen and am always in the testing phase with something somewhere.
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"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. Last edited by ValeoFX; 05-26-2008 at 06:28 AM. Reason: Additional information......... |
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M5 chart details..........
This will follow tomorrow so that you have enough time studying the above two charts first.
Best wishes.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. |
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Re: Cci
I am not sure that the middle of the CCI is sidewinder or not (running along zero line). Would it add any confidence to have a chopzone in there as well? I include a version of Chopzone alongside a link to one of the "official" Woodies CCI interpretation books.
Without a doubt the CCI is the most valuable indicator of all (apart from understanding basic technical analysis) for me. But it takes some learning before it's quirks are fully understood, but there is so much valuable information on this one indicator - multiple entry signals, multiple exit signals, momentum analysis, trend analysis, all in one window. It's worth the study time for sure. Explaination of sidewinder and chopzone are in the book I believe. Very basically (feel free to correct me here) a brown chopzone confirms a downward entry, an aqua chopzone confirms an upward entry. The sidewinder (green or red) simply confirms a directional bias either way. These are for use with particular patterns of the CCI explained in the book (for example a zero line cross I think). The chopzone I have attached requires to be set beneath the CCI as runs in separate window. CCI doc: http://www.successdir.com/CCI-instructions.pdf Last edited by suk1000k; 04-11-2008 at 05:05 PM. |
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Chopzone..........
Thanks Suk. I never had any success with Chopzone, but I am willing to try your version. From Woody it seems to be very accurate and it will be a pleasure testing it. Will let you know.
Best wishes.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. |
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Quote:
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Ash's Signals |
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, No I am a full-time forex-trader, but my wife is an Ophthalmological consultant for a Pharmaceutical company and has to attend these Congresses. They are a wonderful group of people, I may like to add.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. |
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I don't understand...are you suggesting we slide the chart shift over to the center of the screen? I apologize...I must go re-read your post as I was concentrating on the wrong input..
ES
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