Slowkeys Intraday Setup Using Slope Strength and Diff

[mobthehop]

slowkey / neotrader - thanks for your respective replies - I have the indicator on 16 charts, max bars 120, and it takes like 10 minutes on startup, most of the time need to restart several times with deleting the mqlcache.dat file each time - I am not complaining, just sharing...

Will update to v 1.0.3 today.....

Cheers

[slowkey]

slowkey / neotrader - thanks for your respective replies - I have the indicator on 16 charts, max bars 120, and it takes like 10 minutes on startup, most of the time need to restart several times with deleting the mqlcache.dat file each time - I am not complaining, just sharing...

Will update to v 1.0.3 today.....

Cheers

Mobthehop,

You probably have already tried this but if you have not you might want to re-install your platform. Make sure you have a clean download from your Crim.
Check out how many indicators you have in the indicator directory sometimes a huge amount of indicators can slow down the system. Don't know why but seems to happen. Check your log files they should not be huge and deleting them will not hurt anything and along that line check the journal to see if it is giving out any constant warnings or error messages. Should not be doing that. You may have already tried this. Only thing I can think of presently.

[NeoTrader]

hi mobthehob,

slowkey / neotrader - thanks for your respective replies - I have the indicator on 16 charts, max bars 120, and it takes like 10 minutes on startup, most of the time need to restart several times with deleting the mqlcache.dat file each time - I am not complaining, just sharing...

like i described in other posts...this freezing when you start Empty4 is normal since there are a bunch of calculations to run....it looks like Empty4 is not responding...be patient...it will come alive again...

The restarting only prolongs your suffering...

Wait till my MTF indicator is out... then you will love the current indicator for his speed...

happy trading,

NeoTrader

-

[slowkey]

NeoTrader I think your indicator is just fine as far as its performance. I used to run the fx 50 scalping system from FF that used 5 multi-time frame ribbons plus a bunch of special built indicators. Put it on a couple of pairs and it stopped Empty4 in it tracks. Beautiful thing to look at all those ribbons. Yes when I run any amount of pairs with a bunch of indicators it takes Empty4 a few minutes to load everything. It freezes it some and I go get a beer or something. I have been building and messing with computers for over 25 years and there is no way Empty4 should run so lousy except that it needed built from the ground up all over again. I guess that is what they think they have done in version 5. I have not run Version 5 but would hope it can take advantage of modern multi-core processors and advanced operating systems. Thanks so much for the Indicator and the many changes you have made. I think it is a great Tool. Works well in my setup.

[slowkey]

audusd.gif

AUDUSD is at the .786 fib level of the April High. It is also at the 200 moving average. It could move on up to the 61.8 or 62 fib of the February High which is also the .62 upper deviation channel.
Edit - This is a boat load of resistance at this level but AUD longs love that carry.

This is the Daily Chart with the SD Channel looking back 240 days or a trading year.

Edit

Current ALL template added to package in post 1

[slowkey]

eurjpy.gif

eurjpy60.gif

"EUR/JPY: Offers 101.10/25, bids 100.30/40 and 100.00/10, sell stops below 100.00"

Ok I have placed a buy stop at 100.38 where the big guys seem to have some bids. That way price has got to go past the 38.2 FIB of the right shoulder of the triple top and daily pivot on the EURJPY. That also explains why the these guys have their bids there. I suspect to get a lot of momentum if the EURJPY moves to a level where these guys are getting into the market. If the EURJPY does not move or reverses I just cancel my Buy stop. I can even set an expiration on it if I want. I can place a tight stop on entering. Very safe trade if I get it.

There is a lot of resistance at the 101.60 and if I am not going to monitor this trade I might want to get out where there seems to be some offers at around 101.10/25. Might use MTPM to manage the trade. MACD and NT indicator appear to be setting up for cross back into the trend. I am sufficiently out from the center deviation channel for a nice uptrend trade. Will see what happens but this is almost fail proof. The use of pending orders wisely placed can save you a lot of stress. Also demonstrates how a plan can be effectively initiated from both market news and Technical analysis.

You can also see on the daily how overlapping Fibs can add to resistance at certain levels. I unusually will draw one from the most recent high or pull back in the trend and from the last move high.

Edit
I just set a stop of just 20 pips. If I suspect to get momentum I do not need a loose stop and if gets hit it is a minor loss and I can look again for a trade setup. I will use MTPM for break even.

[slowkey]

eurjpy60.gif

Pending order trigger and immediate momentum up to 100.49 but fell back some. Now need to get by round number. With US non-farm payroll on Friday and US independence day on Wed. this week, I am not really sure how the week will trade. May stay in narrow ranges.

Edit
After my break even was set I let it run, but London opened with EUR in retreat south so out of trade with profit but not what I was hoping for.

[slowkey]

eurusd hour chart.gif

eurjpy60.gif

So EURUSD goes to bottom of its range dragging EURJPY with it. So now have entered both on a market and just watch what will happen. Tight Stops.

Edit....
Took small profit and flat. If I wake up later I will take a look at the NY session. But this market is dead this AM. With the 4 of July tomorrow and Non-farm payroll on Friday. This is really a range bound market this week. Summer doldrums too. Risk is definitely off this AM.

AUDUSD range bound High to Low just 34 pips from 0001 US est.

GBPJPY is only 40 pips top to bottom of its range since 0001 US est.
Normal daily range of late as indicated by Cowboy IBFX volatility indicator is 149.

EURJPY is only 40 pips top to bottom of its range since 0001 US est.
Normal daily range of late as indicated by Cowboy IBFX volatility indicator is 150

We have had terrible storms in the Eastern USD with more people loosing there electrical service than in Katrina and the West is burning down. It has been so hot that records broken one day are tied or broken again the next. I live in the mountains but the storms were so bad that a neighbors home just narrowly escaped with minor damage from a giant Oak falling on it. If it would have been a direct hit the house would have been gone. Much of the area was with out electricity but it is slowly getting back on. Some how my neighborhood maintained its electric service but some areas were off 2 or 3 days. The Washington DC area has neighborhoods that will not get it back on till Friday they say. Maryland got hit by these storms and a hurricane would have done less damage and you get warning in a Hurricane. I think much of the US is taking the week off. Too Hot.

[slowkey]

I re-did the template for analysis. What I realized was that you really just got to eyeball the look back on your platform. This one is from my Cowboy IBFX account. Might be better since it does not trade the weekend. You will probably find some difference between brokers but I set this templates Standard Deviation Channels for a look back of 313 days for the year. 51 days for the 4 hour to get 2 months and I decided to go with a 7 day lookback from here on with the 60-15 minute period SDC. That gets me back exactly a year and exactly 2 months on the 4 hour and the Daily. There is not going to be a whole lot of difference from 5-7 days look back. I might try a 6 too.

Edit

Current Package in post 1 updated with new template setup based on an SDC of 6 days look back on 15-60 minutes. The ALL template is as above except for a 6 day look back as noted.

[slowkey]

I will be developing a PDF to place in post 1 that systematically looks at the setup and gives some examples of how I use the setup to trade. But one fundamental idea is that I do have a plan and usually stick with it unless price is going against me, that is the first clue that the plan is not working.

I always am willing to get out with a small loss or break even when price is going against me and most of the time it will be break even if I have taken my time to plan the trade. I am looking for moves of about 60 or greater pips. So I may hit break even if price only goes just 30 pips. I still turn a small profit and make enough bigger trades to satisfy that I am trading well. When I hit the break-even it is just a sign that I was willing to stick to the plan and trade the plan. Than I move on to the next. I do not chase price. This setup lends itself to seeing price against a background of reoccurring price point at specific support or resistance levels. If you get background on where likely bids, offers and stop are in the market which is easy to do at at a place like Forex live you can set pending trades that locate themselves to your advantage. Than you get into a trade with enough momentum to gain a few pips break even or at least not trade against known bid and offer levels. Even if there is no Mo you know you were a smart trader.