How to Trade 10.x Like a Boss

[Jemook]

I could be wrong, but I think once price has crossed under WP for a long, or crossed above WP for a short, then that's the decent retrace we're looking for, so if it goes to S1 for a long or R1 for a short, it doesn't really matter because we already had a decent retrace at WP. Exception to this is a bounce off the WP which happens a lot, which would also be a valid setup.

Right. So there's really no need to mention the weekly resistances or supports, let alone the monthly. Just wondered if I was missing something.

Thank you.

Hey Pedigree,

Yes there is a need to mention the resistances and supports. In point 1 I mention the Weekly Pivot, Weekly Resistance/Support 1,2,3 and Monthly Resistance/Support 1,2,3. What I'm trying to say is the pivots are a good place to look for a BOUNCE to get back into the trend, so keep a lookout for them.

You can enter wherever you like but I find the best setups are after a bounce off WP or WS1 or WR1.

Hope this helps!
J

[thelearner]

I am not familiar with metaeditor, can someone post the modified "low RAM version" (the one that refresh every 10 seconds or more as mentioned above) to replace the current CSS? I can run about 10 pairs at the same time for now without freezing, with the modification probably can finally run 26 pairs without problem that's the idea right?

regards

[Pedigree]

I could be wrong, but I think once price has crossed under WP for a long, or crossed above WP for a short, then that's the decent retrace we're looking for, so if it goes to S1 for a long or R1 for a short, it doesn't really matter because we already had a decent retrace at WP. Exception to this is a bounce off the WP which happens a lot, which would also be a valid setup.

Right. So there's really no need to mention the weekly resistances or supports, let alone the monthly. Just wondered if I was missing something.

Thank you.

Hey Pedigree,

Yes there is a need to mention the resistances and supports. In point 1 I mention the Weekly Pivot, Weekly Resistance/Support 1,2,3 and Monthly Resistance/Support 1,2,3. What I'm trying to say is the pivots are a good place to look for a BOUNCE to get back into the trend, so keep a lookout for them.

You can enter wherever you like but I find the best setups are after a bounce off WP or WS1 or WR1.

Hope this helps!
J

OK, that clears it up.

In a healthy trend, price rarely retraces to the WS1/R1 anyway. In fact, for me, it's time to start considering a reversal rather than a retracement anytime it does.

I suddenly came to appreciate a few pages back that THAT is what makes this your 10.5 style unique namely - the stipulation that one waits for price to at least retrace to the WP before entering.

Like Kwanann pointed out a few pages back, it renders most effective the 1% per trade policy because it ensures that your SL is placed as far away as possible and so, unlikely to be hit.

Thanks Jemook.

[garyfritz]

Very useful stuff. Can I ask what decides the frequency of ticks?

However often your broker sends 'em. Hopefully your broker sends every tick they receive from their market portal (liquidity providers), but every broker has a different set of LPs that could result in different numbers of ticks. And some brokers may filter them so you don't receive every tick. And different pairs have different activity levels, and activity is different at different times of the day.

So "you get as many as you get."

With the standard setup, you'll get more ticks & thus more CPU load when you're displaying a lot of active pairs. With the 10-second patch I posted (assuming it works right...) Empty4 still calls the start() function on every tick, but that's fairly minor overhead. It won't actually do any work (checking price, calculating values, updating plots, etc) between the 10-second updates. If your chart is a really active symbol, like EURUSD during Euro hours, it might get 5-10 ticks per second or more. So a 10-second update can significantly reduce the work it has to do.

[fire580]

Hi Jemook just a quick question when you have the time. You recently said you use a 2.5 CSS threshold is this set on the H4 or D!?
Thanks.

[Pedigree]

Very useful stuff. Can I ask what decides the frequency of ticks?

However often your broker sends 'em. Hopefully your broker sends every tick they receive from their market portal (liquidity providers), but every broker has a different set of LPs that could result in different numbers of ticks. And some brokers may filter them so you don't receive every tick. And different pairs have different activity levels, and activity is different at different times of the day.

So "you get as many as you get."

With the standard setup, you'll get more ticks & thus more CPU load when you're displaying a lot of active pairs. With the 10-second patch I posted (assuming it works right...) Empty4 still calls the start() function on every tick, but that's fairly minor overhead. It won't actually do any work (checking price, calculating values, updating plots, etc) between the 10-second updates. If your chart is a really active symbol, like EURUSD during Euro hours, it might get 5-10 ticks per second or more. So a 10-second update can significantly reduce the work it has to do.

I think this is wonderful stuff Gary! It sounds to me like it could solve all CPU issues pertaining to the CSS indies for one, and in general, any indi you decide you do not really need going at full capacity. Can't wait till market-open to try it.

Thanks a lot.

[pips400]

But it's easy to fix. Just add this at the beginning of start():

Code: Select all

datetime LastUpdate = 0;
if (TimeCurrent() - LastUpdate < 10) return(0);
LastUpdate = TimeCurrent();

(Not tested since the markets are closed, but it's pretty trivial.)

That will update every 10 seconds. Change the 10 to 60 if you want it to update every minute.

Thanks Gary, this could make a huge difference. A lot of time I'm working off of the 1H candle close, so could even use 3600, would that still work correctly?

[garyfritz]

Yes. You just wouldn't see any updates to the indicator for an hour. (And those updates probably wouldn't be in sync with the candle close.) If it was me I'd update it every 5 or 10 minutes so I could glance in on it between candles.

[pips400]

Yes. You just wouldn't see any updates to the indicator for an hour. (And those updates probably wouldn't be in sync with the candle close.) If it was me I'd update it every 5 or 10 minutes so I could glance in on it between candles.

Good point, the important thing is we don't need CSS info every tick, even just a couple of minutes reduce the workload dramatically. Will give a 5min a try as you suggest, I'm sure that will more than be enough.

[fxozgirl]

But it's easy to fix. Just add this at the beginning of start():

Code: Select all

datetime LastUpdate = 0;
if (TimeCurrent() - LastUpdate < 10) return(0);
LastUpdate = TimeCurrent();

(Not tested since the markets are closed, but it's pretty trivial.)

That will update every 10 seconds. Change the 10 to 60 if you want it to update every minute.

Gary, can you please confirm I have placed your piece of code in the correct location?

thanks

Shelley

Code: Select all

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
  datetime LastUpdate = 0;
   if (TimeCurrent() - LastUpdate < 10) return(0);
   LastUpdate = TimeCurrent();
   int limit;
   int counted_bars = IndicatorCounted();

   if (counted_bars < 0)  return(-1);
   if (counted_bars > 0)  counted_bars -= 10;

   limit = Bars - counted_bars;

   if ( maxBars > 0 )
   {
      limit = MathMin (maxBars, limit);   
   }   

   int i;
   
   for ( i = 0; i < CURRENCYCOUNT; i++ )
   {
      SetIndexStyle( i, DRAW_LINE, STYLE_SOLID, 2, currencyColors[i] );
   }   

   RefreshRates();
   
   for ( i = limit; i >= 0; i-- )
   {
      int index;
      double diff = 0.0;
      
      ArrayInitialize(currencyValues, 0.0);