10.3 SCALPER/RANGE TRADE SYSTEM

[thelearner]

Maybe you all like this.

This is an indicator, you know what to do.

Enjoy,

Paul

OMG!!!! Exactly my request... thanks a lot, baluda!

[Eamonn]

Thanks again Paul

Eamonn.

[babalu4u]

Two observations:

1. Babalu4u's Fibonacci set uses levels 0.382, 0.618, 0.82, 1 and 1.382. To my knowlegde 0.82 is not an 'official' Fibonacci level. This should be 0.76. (Let me know if I am wrong.)
2. We like to calculate Fibonacci levels against the symbol's daily range. And because the daily range is an average over several days our old adversay the sunday candle roars its ugly head.

I wil try to find a solution to the last problem. What do we think about the first?

Paul

Paul, Babalu4u in his post admitted it was HIS notion, not a standard Fib ratio.

I love Babalu4u's effort; but my goal is to work with and to anticipate what the traditional values are. That is, the market and the big boy rodents have no concept of 0.82, and so I won't use or trust it.

The levels we seek need to anticipate what the big end of town are probably relying on; NOT arbitrary figures.

0.382, 0.618, 1 and 1.382 are real Fibs; but the next known level of 2.168 seems too far out there, at least for a ranging market.

And I can't find any definition of a 4th level pivot.

Having said all of that; we need to anticipate that time when price breaks free of the last few days ADR, for when it sets a new course for the new trend just breaking out.

I'm suggesting that the 5th level needs to anticipate a new trend. Pivot or Fib; I don't know what it is.

0.82 is NOT useful.

Phil

Hi phil i found level 0.82 that a some bank traders use this level and for this i start to test the level and for me work well...... and is well tested this level for years from this bank trader and he use also level 3.00.....

That's very interesting and good to know mate. I'll keep an eye on it for sure. It really is all about what the banker wankers use; not to be slaves to them but to anticipate their strategies to our own advantage. Read that as "CT ambush is easy, when you know where they will be".

Phil

And here is how he calculate targets......

We first find the Supply Point A, We move to the left, on the chart to
find Supply point B.The point must be at least 3 points higher. Demand
Point C( Root Point) is the lowest point between the two supply points, this point has a higher significance, because it falls between the two supply points..
The formula is High of Point B minus the low of point C (First subtract
9 pips to the low of C. Making the point lower) multiplied by the first
Fibonacci ratio of .382, then subtracted from the value of the trend
line support (price point that the market is breaking through.)
The next Fibonacci Ratio is .618, next is .82. You get the point so
here we go. Let’s do the calculating and see how we can forecast.
This very method I am teaching you is the same method a major US
Bank uses in there trading room. (Or did use, I don’t know if the Chief
Trader is still there.) He and I were introduced to a similar technique
by a Hedge Fund Manager (Stock Fund.) We tinkered with it to suit
the Forex market.

Resistance is done in a similar way to support except we add 4.5pips

Fibonacci Ratios
.382
.618
.8200(my value)
1.382
1.618
2.236
2.618
3.00(my value)
3.618
*My Values are ratios that I have found that work well in Forex.

[xrismak]

Attached is my current rig for 10.3 Test 2. It is Bob's original rig with Baluda's new pivot DO/DP.

MultiTenPointThree v1.0.0 of course goes on its own chart.

The SDC is an indy that Mortiiy sent me, and it has been a useful channel type indy to play with.

Phils rig.zip

DPhil,

Now I LOVE YOU even More for this...... like in a Trading for Profit way......hehehehehehehehehe
Thanks, I had already gotten lost untill you turned up with this Rig.

Many Thanks,

xrismak

[fxozgirl]

Paul, I have to say that it one magnificent dashboard

Thank you so much for your efforts on our behalf!

[nanningbob]

Wow. Woke up and saw. Wow. Ok lets go trade. If only the markets would move a little.

[atharmian]

Paul,

Just fantastic !

Now, can you please also:

1. Color code the pairs according to trading recommendations (Strong/Weak Buy/Sell, or Ranging),
2. Have menu option to arrange pairs in ascending/descending Buy-Range-Sell order?

Thanks,

Athar.

Maybe you all like this.

MuliTenPointThree, screen I.png

This is an indicator, you know what to do.

Enjoy,

Paul

[jimbob1406]

Maybe you all like this.

MuliTenPointThree, screen I.png

This is an indicator, you know what to do.

Enjoy,

Paul

Thank You Baluda, keep on your great work, excellent. Thx

[mobthehop]

Baluda - would like to add my appreciation for your continuous / fantastic contribution - the way you pimp out Empty4 is an inspiration and love your fantastic coding!

Mop

[mobthehop]

babalu4u - would you kindly post a screenshot to illustrate your description in your post
http://www.stevehopwoodforex.com/phpBB3 ... 403#p31403

Much appreciated

Mop