10.4 A Complete System

[Guest]

so then what's the best way to TP ?

[nanningbob]

Here is the eur/aud on a daily chart. It is bouncing up and down in a DT for 2 months now and it is at a decision point. A continual DT will happen if the euro fundamentals continue to decline. If not you can expect the euro to bounce up here. This change in direction will be shown on the daily CSS as the euro line will strengthen as the Euro turns around or goes ranging. Here is the daily chart.

[nanningbob]

This 4H chart will show the rallies more clearly and that affects the indi and the info it gives. The slope or angle will change and be less accurate. The higher the TF the more accurate the lower the TF the less accurate. Learning the strength and weaknesses of an indi will help your trading. The CSS on a daily will give you an accurate showing of the slope over a period of time as compared to other currency pairs. The dips and rallies in a trend will not affect it like it does on 4H charts and lower. However, it will report the change of direction and the slowing down or speeding up of the angle of trend. That is the valuable info you need to make trading decisions.

[zentauro67]

Thanks, Bob, for such instructive explanations. I will compare css, cssdif futures true and false in daily. At first glance it does not seem so exciting as in 4 hours. Until now i only watch daily for S/R levels and pin bars. I ll check css.

As for the immediate future of the euro i can´t forget the words of Angela Merkel last February when said that a euro exchange rate of USD 1.30-1.40 was "normal". The desires of an evil woman are always stronger than any other fundamental.

[Captain Jack]

This 4H chart will show the rallies more clearly and that affects the indi and the info it gives. The slope or angle will change and be less accurate. The higher the TF the more accurate the lower the TF the less accurate. Learning the strength and weaknesses of an indi will help your trading. The CSS on a daily will give you an accurate showing of the slope over a period of time as compared to other currency pairs. The dips and rallies in a trend will not affect it like it does on 4H charts and lower. However, it will report the change of direction and the slowing down or speeding up of the angle of trend. That is the valuable info you need to make trading decisions.

I was just looking at this chart while doing some homework Bob. Take a look at the weekly time frame as it provides some clues or additional pieces to the puzzle.

Price has been making higher highs and higher lows off the bottom. An inverse head and shoulders has completed and price has risen above the neckline.

The previous low has been tested, but a new low was not established. There was a pin that penetrated the previous low, giving inclination to a false break lower. however, price pulled back from the pin low, leaving a nice clue for the coming week. It's in the red circle.

The candle formation seen on the chart will also appear in between the railroad track candle pattern. The Doji is supposed to represent indecision but in reality, it represents deception and allows the market maker an extra week to sell trend continuation to short biased traders, while accumulating orders before moving price higher, away from them.

A candle with another long wick or pin down could form this week, but my inclination is towards higher prices in this pair. It is on my watch list this week.

CJ

[nanningbob]

Thanks, Bob, for such instructive explanations. I will compare css, cssdif futures true and false in daily. At first glance it does not seem so exciting as in 4 hours. Until now i only watch daily for S/R levels and pin bars. I ll check css.

As for the immediate future of the euro i can´t forget the words of Angela Merkel last February when said that a euro exchange rate of USD 1.30-1.40 was "normal". The desires of an evil woman are always stronger than any other fundamental.

And as price crosses the 240 line we will watch the dip and buy into the new trend. While those who follow fundamentals will be argueing whether or not this is a new UT or a short rally in a DT we will be buying until it crosses below the 240 line. We can smile and let them argue, either way I will buy if it goes up or I will sell if it bounces down. Wonder how many people are going to withdraw money around Europe on Monday and how many will rush to the Cypress banks on Tuesday?

Let's see NZD and AUD banks look strong and safe. LOL

[nanningbob]

My internet connection is down here in China. I am being punished for using my VPN and getting through to Facebook. When I do that they usually shut me down for 12-24 hours so I may not post my beginning remarks for the week. I am at my school using the internet here but wont be back until tomorrow.

[Nidolap]

My internet connection is down here in China. I am being punished for using my VPN and getting through to Facebook. When I do that they usually shut me down for 12-24 hours so I may not post my beginning remarks for the week. I am at my school using the internet here but wont be back until tomorrow.

Sometimes we need to know this to value the little things that we take for granted and are only possible because someone fought for those rights.

Reading this thread and trading technics hasn't been easy, although rules are simple, there are still a lot of experience based decisions when actually trading. As a trader I know uses to say we are here for the marathon, not to win the 100 meters. So, I will keep reading, learning and practising on demo, the best part is that while learning technics I'm also learning life experiences that I enjoy very much.

Thank you all! Have a nice Sunday.

[garyfritz]

I knew the repainting issue, but did not imagine that affected son many bars. I ll check it out with the true settings.

The slope indis work best on higher TF because the repaint issue is lessened. Slower moving less volatile the TF the more accurate it is.

I've never understood why you want to use the repainting version at all. If you only look at the current bar it makes no difference, and I assume that's mostly what you use it for. But for anybody trying to learn your approach, for anybody who wants to be able to look at a historic chart to understand how it played out, the repainting slope indicators are totally misleading.

The repainters look "pretty" in history, but that prettiness is a lie. It confuses people trying to learn by studying the charts. I much prefer the version that looks on the chart the way it looked in realtime, so I can see on the chart what I would have seen in realtime if I was trading it.

Though actually.... I just checked both of them stepping through history with F12 in the System Tester, and according to that, BOTH versions repaint!? ignoreFuture = true doesn't repaint as egregiously as ignoreFuture = false, but even iF = true changes its values, and its zero-crossings, as the chart progresses.

And since the 10.4 RSI indicator is based on NT TMATrue SlopeHisto MTF, which ALSO repaints somewhat, the 10.4 RSI values also change with time. But I think that's probably a less serious problem, especially since 10.4 just acts when the RSI pegs against 0 or 100. That won't change much.

This is the behavior in the System Tester. I assume it acts similarly in realtime but I haven't verified it yet.

In fact even vanilla RSI (on Close) kind of "repaints," at least in System Tester. The RSI value on the last bar (the realtime bar, bar 0) in ST is usually equal to the RSI on the previous bar (bar 1), then it changes value when you move to the next bar. So bar 0 changes when it moves to bar 1, but then the bar 1-N values are steady. But I'll be really surprised if it does that in realtime. I think ST is showing the bar 0 RSI values at the OPEN of the new bar, on the first tick of the new bar, when the RSI value is usually almost identical to the RSI value of the previous tick (which closed the previous bar). If so, then the bar 0 value **in ST** isn't really valid and should be ignored. Which is very relevant for me because I've been running a trade simulator in ST to try to learn 10.4...

[tibochina]

Can someone direct me to the page to download the CSS indicator? I tried loading this early last week and was not successful. 10.4 worked nicely for me last week under difficult market conditions. Live account +5.2%.