10.6 EDSEL

[Gertje]

Is it possible to put a band on a moving average that is similar to the COG or TMA where the bands are based on ATR or something similar. Bollinger Bands widen and narrow too much and every currency has its own distance from the center. So I guess a COG/TMA based on a moving average for the center line but the outer bands based on a COG/TMA readings. This would be give a better back test I guess. Just an idea if someone knows if something like this exists. Here is the 60 MA with 100 pips on each side but every currency's outer bands should be different and not the same. See pic for the basic idea based on 60 MA.

Here you are

Thanks Harry that is very close to what I was looking for. I used to use bands like these but it didnt adjust to each currency. This does. I made adjustments to match the 60MA on my charts. Now you get ATR range for each currency and it nails it pretty good.The black line is the 60 MA for ATR and the aqua is the normal 60 I use with 10.6. You can see they match exactly. Now you have clear entrance and TP that match the volatility of the currency. gbp/cad is about 85 pips from line to line while the gbp/usd is 53 pips and nzd/usd is 43 pips from line to line. This allows me to adjust my TP and SL to exactly what this pair should use. Better accuracy. I think this was exactly what we needed for the system. Each pair having its own entrance and exit points.

Basically 10.3/4 where the (M)S/R are replaced by these ATR based lines?

[lionsden]

Here are the ATR numbers I am using:

extern int PeriodsATR=500;
extern int MA_Periods=60;
extern int MA_type=MODE_LWMA;
extern double Mult_Factor1= 1.5;
extern double Mult_Factor2= 3.0;
extern double Mult_Factor3= 4.5;

NB,

For the MA_ type the indicator in this thread recently posts only give a numerical option which is presently set to 3. Am i using the right indicator.
tIA

Lionsden

MA type 3 is LWMA - sounds like you're using the right one.

Thank you Kindly.

[nanningbob]

Here are the ATR numbers I am using:

extern int PeriodsATR=500;
extern int MA_Periods=60;
extern int MA_type=MODE_LWMA;
extern double Mult_Factor1= 1.5;
extern double Mult_Factor2= 3.0;
extern double Mult_Factor3= 4.5;

NB,

For the MA_ type the indicator in this thread recently posts only give a numerical option which is presently set to 3. Am i using the right indicator.
tIA

Lionsden

MA type 3 is LWMA - sounds like you're using the right one.

Thank you Kindly.

When I used LWMA it works also, that is the actual code but the program is set up to read the number also so both will work.

[zentauro67]

This could be a translation to the chart from the AUD CSS pattern I talked yesterday. AUD use to do this kind of zigzag before strenghtening, so I´m not taking in consideration the harmonic pattern (bearish bat) in AUDNZD and I´ll take it just as the opposite, as a bullish formation. In fact, we can dream of a H&S inverse here.

Dummie lights are already in green and, taking a look to the weekly chart from 1996 until now, we could talk even of the first steps of a super-reversal.

Imagen 001.jpg

Imagen 002.jpg

[lionsden]

Here are the ATR numbers I am using:

extern int PeriodsATR=500;
extern int MA_Periods=60;
extern int MA_type=MODE_LWMA;
extern double Mult_Factor1= 1.5;
extern double Mult_Factor2= 3.0;
extern double Mult_Factor3= 4.5;

NB,

For the MA_ type the indicator in this thread recently posts only give a numerical option which is presently set to 3. Am i using the right indicator.
tIA

Lionsden

MA type 3 is LWMA - sounds like you're using the right one.

Thank you Kindly.

...and thank you for the confirmation Bob.

When I used LWMA it works also, that is the actual code but the program is set up to read the number also so both will work.

[nanningbob]

This could be a translation to the chart from the AUD CSS pattern I talked yesterday. AUD use to do this kind of zigzag before strenghtening, so I´m not taking in consideration the harmonic pattern (bearish bat) in AUDNZD and I´ll take it just as the opposite, as a bullish formation. In fact, we can dream of a H&S inverse here.

Dummie lights are already in green and, taking a look to the weekly chart from 1996 until now, we could talk even of the first steps of a super-reversal.

I like long term AUD down or range mainly because China is slowing down and it is being done on purpose. They need to shake out their bad loans and that will take a while. I dont think of it as a doomsday thing but its going to take some time. I dont see AUD going anywhere near 1.00 again anytime soon but that .80-.90 range seems about right long term.

Weekly looks like this with TMA/COG and the Daily looks like this with TMA/COG.

[zentauro67]

Of course, AUDUSD could surely range, but AUDNZD, the pair I´m most interested, looks bullish to me. Time will say...

(BTW, NZDCAD short looks great after CSS slopes)

[nanningbob]

I have begun my rewriting of my 10.4 booklet. It will include the 10.6 EDSEL and the newest update I have been calling 10.7. It includes everything from TP SL Muli-level trades range, trend both short and long term, and a more specific entrance and exit than we have had in the past. Getting the 60 MA tied with ATR was exactly what I was looking for and Milanese is working on a complete warning system that will call for entrances and exits. The exit will have two or three calls. A short term now or almost daily, a medium term that can last more than a day, and working on the long term. Let your winners run.

Basically we have come up with an indi that is quick and easy to read and you can use any kind of screen with it from naked to TMA to COG to 60MA with ATR or anything else but the overall chart screen becomes simplified. The CSS info page does not change. Each currency will have its own separate TP and SL range based on the ATR indi we just posted. If you dont use that you can use what you are already familiar with since you know how to work your personal indi.

I have also added lower TF trading so you can use this to scalp 15M charts, dont know 5M or 1M but I am sure someone will figure it out. I really like the looks of the 1H when its ranging and the 30 M when its trending very strongly and when price action is normal 4H (myfavorite) works fine. I have the booklet 1/3 written at this time and hope .............. maybe hope ................ I can finish it this weekend. I have had no DD this week with 15 wins and 1 loss and the loss came quickly because it catches the wrong turn quickly. I am having a good time and the 3 others that are testing it are too. It is getting there and we owe Milanese a million thanks for his contributions to programming the changes and making them 6xx compatible. The 240/60 MA dont change (except adding ATR) and CSS doesnt change. Specific places to enter and exit are there which is added to the STO7. In other words we are improving the STO7 reads and adding range and CT trades. I am really excited about this update.

[rocketman99]

I have some observations to make from the recent discussions about grids, swap and some of the trades discussed.

A mention was made about GBPCAD and EURCAD. The suggestion was to go short. I decided to zoom out to the weekly chart and noticed that going short on these pairs shows they are in a multiyear strong uptrend. With my luck going against the trend will get me stopped out.

This led me to a thought about what Bob said about grids! I checked all the long term trends (weekly/monthly) and noticed that suprisingly a number of the pairs have strong trends in the direction of the positive swap. So why not just use Bob's teachings and grid up in the direction of the very long term trend and positive swap? This is low risk - you just need to be able to stomach the drawdown and not get a margin call (only 0.01 lotsize). Also there is no hedging so this will work for US traders too.

Here is a list of all the pairs with positive or zero swap in direction of the long term trend:

EURJPY - strong up
GBPUSD - strong up
NZDUSD - strong up
USDJPY - strong up
GBPJPY - strong up
NZDJPY - strong up
NZDCAD - strong up
AUDCAD - mixed, uptrend
EURNZD - mixed, downtrend
GBPCHF - ranging, positive swap
NZDCHF - ranging, positive swap
GBPNZD - ranging, negative swap - getting to bottom of cycle

So I have started an experiment to see how long I can take the stress of holding on into the trend. Lets hope it works out.

[nanningbob]

I have some observations to make from the recent discussions about grids, swap and some of the trades discussed.

A mention was made about GBPCAD and EURCAD. The suggestion was to go short. I decided to zoom out to the weekly chart and noticed that going short on these pairs shows they are in a multiyear strong uptrend. With my luck going against the trend will get me stopped out.

This led me to a thought about what Bob said about grids! I checked all the long term trends (weekly/monthly) and noticed that suprisingly a number of the pairs have strong trends in the direction of the positive swap. So why not just use Bob's teachings and grid up in the direction of the very long term trend and positive swap? This is low risk - you just need to be able to stomach the drawdown and not get a margin call (only 0.01 lotsize). Also there is no hedging so this will work for US traders too.

Here is a list of all the pairs with positive or zero swap in direction of the long term trend:

EURJPY - strong up
GBPUSD - strong up
NZDUSD - strong up
USDJPY - strong up
GBPJPY - strong up
NZDJPY - strong up
NZDCAD - strong up
AUDCAD - mixed, uptrend
EURNZD - mixed, downtrend
GBPCHF - ranging, positive swap
NZDCHF - ranging, positive swap
GBPNZD - ranging, negative swap - getting to bottom of cycle

So I have started an experiment to see how long I can take the stress of holding on into the trend. Lets hope it works out.

Give it a couple of days and I will help take some of that stress out.