10.6 EDSEL

[zentauro67]

Hi, SpiderX. I have been using it for two months in 4H and have not noticed any repaint. The channel for sure change its slope as price action demands, but it is very stable. As for any other indi, the best way of understanding if it repaints or not, and how it deals with it, it is to watch it in action for a couple of hours in 1M chart.

Using dummie lights to choose buy or sells and channel boundaries for taking profits is a very simple system for beginners.

[spotdespot]

Hi, SpiderX. I have been using it for two months in 4H and have not noticed any repaint. The channel for sure change its slope as price action demands, but it is very stable. As for any other indi, the best way of understanding if it repaints or not, and how it deals with it, it is to watch it in action for a couple of hours in 1M chart.

Using dummie lights to choose buy or sells and channel boundaries for taking profits is a very simple system for beginners.

By its very nature it has to recalculate - there is no way you can have an indi that plots straight lines and, as you say the slope MUST change, therefore the place where the lines were in the past cannot be constant. I wouldn't call this repainting though but recalculating. HOWEVER as I have said before (and I think boldtrader said more eloquently) there really is nothing wrong with repainting indi's as long as you are not using them for signals or to visually backtest a strategy - if you use them for indicating "areas of interest" on the right hand side of the chart then they are very useful imo.

What would be very interesting is an indi that could show proximity to TMA or CG bands (or your Gann Channels) by currency pair per timeframe. For example today and or Monday I am pretty sure we should see some action from EUR/AUD/GBP pairs as lots of pairs involving these currencies are at the edge of the TMA-CG bands I am using. So if you had an indi that highlighted this "ranking" currencies as "near extremes" or similar you could check these in conjunction with what EDSEL (charts/CSS) is telling you and use the information to help choose best trading pairs. Then again maybe you can see that info easily enough on the charts.

[nanningbob]

We have had this repaint issue before and it has been awhile. There are two kind of indis. One that gives information as price happens, for example MACD and STO and most other indis. They move with price action up or down. That is normal of all indis, If you ever put a sto on a low end chart you can watch the end move up and down with price. The same with the bars of a histogram on MACD and any other price reactive indi. That is all those indis based on price movement and people can say they repaint. Reacting to price movement is not repainting. That is what they are suppose to do.

Then there are fixed indis that are based on highs and lows. Pivot points with their support and resistance lines, Fib lines, the xxx.00 lines I use, Etc. They take previous information of price movement and give a fixed line for a period of time. They are not predictive they just show where price likes to hang around at times. They are fixed points on a screen.

So all indis either move with price movement (wrongly described as repainting) or are fixed on a screen from previous price action.

So what is repainting. Repainting became a big thing when indis would give (paint) a buy or sell signal. Price then would reverse from that signal and the indi would remove the buy or sell signal. Then price would go back into the predicted direction and the indi would place a buy or sell signal again. (this is common with systems that use arrows, warnings, etc.) That is a repaint, it gives a signal, then takes it off, then repaints the signal. Those can be nasty but that is trading and that is Forex. You make your choice and you then take the consequences of that choice. If a indi, system, etc. was 100% we could all retire and go home next year onto some island.

So is there a problem with indis updating their information and moving up and down (falsely being accused of repainting)? The higher the time frame the less of a problem it is. WHY? Because by the time price has moved the indi up or down it has been days, weeks, or even months since the signal is given. The only place a moving indi is an issue is on back testing. You dont know where the indi was when it was real time. Most people dont realize that is an issue with many indis. So what is the solution? When a signal is given you take a trade. It will do one of two things. It will move into profit. It wont move into profit. That is not the indis failure or success. That is reading the market and making a decision, now face the consequences. If the trade fails close it and go on. If it succeeds close it and go on. That is being a trader.

I once told some people at FF that you can choose any system you want and I can trade it. I can trade it successfully because MM is one of the biggest issues of trading. Once you master a proper MM you wont get so upset about your system or indis or no indis. MM will keep you in the game and bad MM will clean out your account.

High/low systems like these variations of TMA, Bollinger Bands, Ganns, S&R, etc. will always work because the market ranges over 70% of the time. So they can be successful that often. How you manage your trades and account will decide whether you are profitable or not. Repainting indis will have nothing to do with it.

[padnoter]

overlay the "TmaTrue with Distances-1.mq4" indi that was posted a while back if you want to see the historical values of tma as they were at the end of each bar.

[yamez]

It´s quite hermetic. I couldn´t find any information about its calculation method (even the number of bars), only a quote about the use of center of gravity in its core. After testing a lot of channels (SHI, regression, demark, etc) this odd one is the most close I could find to fastTMA lines. The only advantage for me is psychological. Bands makes me nervous and straight lines calms me. Sounds silly and for sure it is, but we must feel calm for trading and in my case trendlines and channels make me feel confident.

Hi zen,

I assume this repaints like TMACG ?
p.s : TMACG repaints like crazy

Cheers

By this you infer repaint = misleading? Crazy = very misleading?

My EDSEL trading has vastly improved using this misleading indy to filter stoch 7 triggers. Great for placing a TP too. We are using a combination of conditions for entry, not one.

Check my last chart here, http://www.stevehopwoodforex.com/phpBB3 ... 560#p88110

Look how far the TMA has moved from then to now ( chart below ). Just as much as an MA. Hardly repainting.

I'm not married to an indicator or method nor take this seriously ( see smiley above ). Meaningful posts are what matters.

Cheers.

[padnoter]

hi yamez,
nice trade/chart
can you tell me which tma indi you are using? and what are the settings please?
thanks
padnoter

[yamez]

hi yamez,
nice trade/chart
can you tell me which tma indi you are using? and what are the settings please?
thanks
padnoter

Hi padnoter,

Please see this post for settings and indi, http://www.stevehopwoodforex.com/phpBB3 ... 560#p88106

I believe mobthehop has converted this indi to support builds > 509, see this post, http://www.stevehopwoodforex.com/phpBB3 ... 580#p88153

Cheers.

[alorente]

I personally cannot live without TMA lines. I use them together with 10.6. I have 4 TMA´s on the chart: H1, H4, D1 and W1. All of them set at 50 Period and ATR Multiplier of 2. Attached is a great TMA indi that we developed while evolving the Extreme TMA system. It is time tested and it works like a charm. It is NOT processor intensive because it only recalculates the current bar on every tick. All previous bars are only recalculated at the close of the current bar. I have them overlayed on the 10.6 screen and it helps me enormously on choosing a trade and timing the entry. For example, on the attached pic of GBPUSD, you can see that the H1 TMA (Orange) overextends beyond the H4 TMA (Magenta). This is telling you a rebound is very likely. If you are short, it would be a good place to take profits. I would not go long, because I never trade against the H4 TMA direction. Of course, the dummy bars are red so you would not go long in this instance anyway.

I hope this helps.

[ace81]

I personally cannot live without TMA lines. I use them together with 10.6. I have 4 TMA´s on the chart: H1, H4, D1 and W1. All of them set at 50 Period and ATR Multiplier of 2. Attached is a great TMA indi that we developed while evolving the Extreme TMA system. It is time tested and it works like a charm. It is NOT processor intensive because it only recalculates the current bar on every tick. All previous bars are only recalculated at the close of the current bar. I have them overlayed on the 10.6 screen and it helps me enormously on choosing a trade and timing the entry. For example, on the attached pic of GBPUSD, you can see that the H1 TMA (Orange) overextends beyond the H4 TMA (Magenta). This is telling you a rebound is very likely. If you are short, it would be a good place to take profits. I would not go long, because I never trade against the H4 TMA direction. Of course, the dummy bars are red so you would not go long in this instance anyway.

I hope this helps.

I have read through your ETMA system on ff
Nice to have you back

[nanningbob]

I hope you guys realize the CSS was developed around the TMA so that is where that indi started. It is the combined angle of all the currencies combined into one line and then compared to each other. So in a sense we have been using it for a very long time. For those who struggle with ranging markets and of the range style idis will work and it comes down to personal preferences. If you follow the rules of my system price above/below 60/240 is a trending market, you use 10.4 and 10.6 trades. If price touches the 60 and predicts range mode (olive/goldenrod colors) you then use the TMAs, BB, etc indis you will find them very successful. That is the beauty of 10.6. You read the market and then use the appropriate indicators to enter the market.

For example Capt. Jacks Naked trading will work excellently in range areas but struggle in trending markets. Double tops/bottoms (W or M formations) are great in ranging markets. It is useful in day trading during the non news times in Forex. If news stories fit the formation it works great, but news will bust those formations also. No matter what system you use big news stories will always beat an indi system. Solid MM helps you get through those rough times.

Last week I had a losing week, this week I am all smiles. I am up for the month and up for the year but still I have my bad moments. Anyway while price ranges any of these indis, TMA, BB, M/W formations, GANN lines are going to work. Anyway if you want to know how to use a TMA go to Alorent thread at FF and he will teach you how to use that thing.