TanmoyS » Sat Mar 21, 2015 7:04 pm wrote:Hello guys, I just joined this forum today. I just wanted to know which time frame is suitable for this indicator. In the PDF the examples are shown on 4 hour charts. Can it be used in lower time frames? Thanks.
Just read the entire thread and too that thread ---click---> http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3985 this should answer all your questions, and use next time the beginners thread for questions like this..
nanningbob » Sat Mar 21, 2015 7:50 pm wrote:
Thank you for your wisdom. The indi is very dynamic. It gives overall trend direction with the wavy lines as turn around areas. Since these are given at candle close it works quite well for those that like candle closes. It is based on the overall increasing/decreasing strength of a move. The arrows are real time and may or may not be right on the money every time. I have used those arrow directions on a separate indi for years and years and can assure you they work far more times than the don't. It goes back to my 4.0 and 5.0 CT systems at FF. I know this from years of personal experience using that one particular indi. So every once in a while I will try to remind everyone where these came from and that they have seen years and years of use before they were all combined into one by Elixe.
I totally agree with you , my idea was also to give a hint for the people that doubt the indicator when they start using it and face the reality that it is not 100 percent accurate as everybody wants it to be ! I have read the whole thread til, now and saw some people that are really frustrated how you are profitable with this indie but they are not. And to have a good feel of how it functions this new feature of Empty4 platform for testing indicators visually is a great asset. There you can see clearly what you have stated that on lower time frames the indie gives more inaccurate results and on higher timeframes the big arrows it generates are profitable 70-80 percent of the time. And let me tell you this - if any of you guys have watched the Price Action course of All Brooks who is considered one of the t gurus that really earns money there he states that for an institutional trader the 70% winning ratio is very very good thing! So as far as he is concerned, if you can provide him with such indicator you will not hear a bit of complaint .. only silence because he will be trading silently and piling up the cash. The moral of this is that trading is not only for entrance or exists- it is very much having the balls to resist temptation and fear and greed also, it is also a matter of very clever money management like Bob says- trade in such way to be able to trade another day! And finally my modest contribution for using this indie- I have monitored how it behaves on test in Empty4 so I observed that the RAD arrows usualy do not recalculate often.. and give decent signals. So what is the catch with them- the catch is that as any indicator we do not have the crystal ball to predict if the arrow does not mark the end of trend and after an arrow pops maybe there could be a reversal. Until Bob and company of geniuses do not release the version of HGI on steroids with codename "Crystal Ball" we have to accept the fact that we are not fortunetellers YET Now seriously - the RAD arrows present great opportunities for breakout trades as mentioned in the thread so I will try the following scenario - when we receive a RAD arrow we can put buy or stop (pending) order below or above the arrow (depending on whether it is buy or sell RAD arrow). If this arrow is triggered than the price has came to us and there is a high chance we get something- probably such trades will not be veeery profitable but are ideal for scalping opportunities- my point is there is a potential for trading these arrows in such way! I will be gratefull if someone shares if he/she trades in such way or any other ideas concerning these arrows. Of course the other arrows and waves are also good was to trade just wanted to give something I observed. It is great that Empty4 has this capability to visually test the indicators- it eliminates the endless discussions of how one can see the real behavior of the indicators he considers using. WOW a really long post I wrote... cheers to all and happy trading!
On the bottom-left of the reply-window, you will find a button "use only last quote". It is there on purpose to avoid an endless discussion becoming a mile long.I will not use it this time, just to illustrate my point
ludowillems » Sun Mar 22, 2015 8:25 am wrote:On the bottom-left of the reply-window, you will find a button "use only last quote". It is there on purpose to avoid an endless discussion becoming a mile long.I will not use it this time, just to illustrate my point
Got it from a heavy duty pro...logical and simple...
It´s a 1 minute chart,
with these MA:
1440 (red the dayly average)
240 (green 4 H)
60 (light blue H)
15 (dark blue)
It gives you at a glance, a clear picture of the day´s trends.
It's Just possible that the starter of this thread might know a little bit about these Moving Averages! Perhaps a reading of the 1st Post in this thread might be in order or for that matter any other of Nanningbob's posts or threads in this forum!
Jollyroger » Sun Mar 22, 2015 3:18 pm wrote:
It's Just possible that the starter of this thread might know a little bit about these Moving Averages! Perhaps a reading of the 1st Post in this thread might be in order or for that matter any other of Nanningbob's posts or threads in this forum!
Shades of 10.0 to 10.7 wouldnt you say. I guess that is a compliment.
Definitely a complement. I see the original post to which I replied has disappeared which comes as no great surprise. I'm almost sorry I saw it before Steve since his reply would have been far more entertaining. Thanks again for sharing your knowledge with us all.
Roger
Jollyroger » Mon Mar 23, 2015 6:49 am wrote:
Definitely a complement. I see the original post to which I replied has disappeared which comes as no great surprise. I'm almost sorry I saw it before Steve since his reply would have been far more entertaining. Thanks again for sharing your knowledge with us all.
Roger
Yes I wish I had kept all of Steve's rants over the years.
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