10.7

[nanningbob]

Bob the NZDUSD below on the four hour. I still have a lot to learn. However just a quick look at the indicator. Love Tom Demark. I have vertically compressed this a little to make the daily clear below.

Not a whole lot to say here but the 240 is support at the moment.



Now as a ribbon narrows it become more resistant or supportive of price. As it widens it become less resistant or supportive. I like to think of it as rejection or acceptance of price. It may take a few runs at the edge to see if price will cross. Often price will go right through the x cross of a ribbon. Good trades go from bottom up. This is a bottom up system. So Grey Blue and Green will be classic ordered trades that you will see repeat. Trading into any Black area is a Great Trade however there may be a round number or pivot everyone is looking at.

So now the same area on the 15 minute Below. The indicator is fantastic Bob. This can be made to work intraday just fine. I need to better understand your Stoch and I may have a different setting for intraday. I think you can see the pattern that is highlighted by the ribbons. The edges of the ribbons are the area of stronger support or resistance. They also get retested a lot. The area in between the colored area is the chaos zone. It is usually clear sailing. It is thought that traders here are clueless. Trading inside a huge zone like the weekly is like trading in Black areas. However beware the edges. If you like chart patterns and S/R you will love ribbons. I designed them for intraday trading. That is where they excel. I can use 10.7 up on the higher time periods. So what is happening on the 15 minute. There was support on the 240 but now you can see there was resistance on the 60. You can see how all the time periods are coming together as traders come to an agreement on price. A pattern is being formed. Even the averages are headed into the center. Fundamentally the Dow is down and it look like a correction is starting. Could be a damper on commodities.

An upper trend line break would extend the ordered pair movement of price and a widening 60 minute would be more receptive of price crossing it. However it is Friday and all the momentum is drying up. There could be a false break out than a complete consolidation could follow. However that is where understanding the use of the Stoch will come into the picture and as always CSS.



Thanks for developing this Bob and for all the coding by milanese what a terrific guy. Looking forward to getting deep into the threads this weekend.

Well I will say one thing, you have the coolest looking screen I have ever seen. Put everything in an envelope and I would like to at least look at it. What is neat about 10.7 is I think it puts the final touch on any system. You take what you already know or use and add 10.7 and it adds clearness and clarity. Each person is taking their own system and finding 10.7 fits in nicely with it.

Many traders here have heard my story and I trade the 4H chart. It fits my work schedule and my trading style fits my work schedule. I can get to my computer about every 4 hours and candle changes are done right at my break times, start and end of work, and the time I get up and go to sleep. So I am almost 100% 4H trader. Now when I see a setup I will sometimes go to a lower end chart to find my entrances and exits (especially CT trades) but that is my reasoning. So it is hard for me to comment on lower TF trades. I simple dont use anything lower than the 30 and most of the time it will be the 1H. But I do say that is one cool looking screen and I would be more than happy to look at that one.

[slowkey]

I simple dont use anything lower than the 30 and most of the time it will be the 1H. But I do say that is one cool looking screen and I would be more than happy to look at that one.

You can down load just the clean bundle under my thread ... Better yet I will post it here. It is all done with math Bob. Which means that I could take the 1 hour and build any ribbon in 1 hour increments. Say I want a 2 hour ribbon. I could do that. Five hour that too. On the four hour ribbon I could do it in increments of 4 hours. Say a 8 or 12 hour ribbons. Want a 20 hour ribbon you get one. I looked at the larger 4 hour increments and was not impressed but I suspect that a 5 minute , 15 minutes and 60 minute increments might be interesting and produce some surprises.

So a 1 hour template could be designed to look at higher periods in relation to the four hour. You might find that helpful. These do not necessarily trade like the time period you are on because you see every time period all the way up to the weekly including any you create. The order is Shadow ribbon = previous lower time period, Grey= Primary Time period you are on, Navy, DarkGreen, Brown, A really Dark Golden Rod, The weekly is like looking through a screen door. You could be inside it or miles from it. There is so much I can do with them and I have not been able to find all the time yet to experiment and build a system too. Very complex template. Order of the ribbon indicators on time period is crucial. Math not hard. However because it is done with math and is not a MTF indicator it makes it possible to add time periods.

Now your Stoch looks very interesting. I can adjust it for intraday trading. I usually slow down indicators on the intraday to compensate for all the noise in the candles. Just the opposite of what a lot of people think to do. Speed up for high time periods and slow down for lower. It will take some playing when the markets open again. The trend will become intraday ... 60 probably because intraday is mostly if your sane 15 minute and 30 minute. The ribbons are designed to trade trend and counter trend.

In the bundle is just one template but it covers 5-240 periods. That is the actual Empty4 time periods. Ribbons will go up to the weekly on the 15 minute and up. This is an analysis template I designed for use by others trading other systems. Some docs that will be getting rewritten but some history.

Edit .. Really nice thing about not using MTF indicators is you can run them just fine in visual mode in the Metatrade tester.
Added a Test EA for anybody who wants to look at these over the week end... Just prints smile in the left hand corner. Put in experts to those who have never done this before. Restart. Start tester. Pick Test EA. Pick a pair and time period. Pick a span of time. Hit start than pause and apply template. Hit play not stop. You can study Ribbons to your hearts desire. Only thing I ever have found the tester good for

Edit ... 2 this bundle is for analysis only. For other systems like Bobs and CJ. My system development can be found at the location in my signature. 10.7 is getting integrated into the system.

Thanks for all your work here Bob and I will be following.

Doug

[rostaus]

Mine doesnt work. It only shows blank screen if I set weigh only symbol on chart to true. Post your version and let me see what it is.

this one should work, I tested it here on I B F X




Cheers

Tommaso

Thanks Tommaso, that's brilliant, will save huge amount of time setting each one up individually.

[rostaus]

Mine doesnt work. It only shows blank screen if I set weigh only symbol on chart to true. Post your version and let me see what it is.

this one should work, I tested it here on I B F X




Cheers

Tommaso

Thanks Tommaso, that's brilliant, will save huge amount of time setting each one up individually.

[zimezoom]

I am working on a code to automatically rank currency pairs based on their individual CSS reads.

My first system was simple:
1. base rankpoint for a pair is 1
2. if one currency's CSS read is positive while the other's is negative, then add 1 point
3. if the two currencies angle away (currency1 last read>previous read AND currency2 last read<previous read -- and vice versa). then add another point
(at this stage, the best trade opportunities would worth 3 rankpoints: pair currencies are on the opposite side of the 0 level, and angling away)
4. weight the rank point with the absolute difference of the two CSS reads: rankpoint*MathAbs(css1-css2)

However, I am not satisfied with the test trade results based on this ranking, and as I read Bob's thread on CSS, I am starting to understand why. It's not that simple.

There's something to do with crossings, 0.2 levels, angles and the relative positions of these. Maybe with the relation to 4H CSS reads.

I believe, it would be a huge advantage to have automatized CSS ranking, in order to clearly see and pick the best trade opportunities. If you have any great ideas on this, sharing is appreciated!

[milanese]

You will new find here http://www.stevehopwoodforex.com/phpBB3 ... 742#p89742 attached the 10.7 24 pairs CSS with popup crossover alerts.

Cheers

Tommaso

[milanese]

I am working on a code to automatically rank currency pairs based on their individual CSS reads.

My first system was simple:
1. base rankpoint for a pair is 1
2. if one currency's CSS read is positive while the other's is negative, then add 1 point
3. if the two currencies angle away (currency1 last read>previous read AND currency2 last read<previous read -- and vice versa). then add another point
(at this stage, the best trade opportunities would worth 3 rankpoints: pair currencies are on the opposite side of the 0 level, and angling away)
4. weight the rank point with the absolute difference of the two CSS reads: rankpoint*MathAbs(css1-css2)

However, I am not satisfied with the test trade results based on this ranking, and as I read Bob's thread on CSS, I am starting to understand why. It's not that simple.

There's something to do with crossings, 0.2 levels, angles and the relative positions of these. Maybe with the relation to 4H CSS reads.

I believe, it would be a huge advantage to have automatized CSS ranking, in order to clearly see and pick the best trade opportunities. If you have any great ideas on this, sharing is appreciated!

Take a look to the attached slope 1.06 indicator(build 6xx adapted), this one is doing something simil like you want to do..

SlopeValues1.06_6xx.mq4

Cheers

Tommaso

[zimezoom]

Take a look to the attached slope 1.06 indicator(build 6xx adapted), this one is doing something simil like you want to do..

Cheers

Tommaso

Thanks Tommaso, will check!

[thomasmore]

Take a look to the attached slope 1.06 indicator(build 6xx adapted), this one is doing something simil like you want to do..

Cheers :)

Tommaso

Tommaso,
Great indicator! Where do I find the explanation of the little icons (arrow up/down, red/green dots) en txt next to the figures?
Thanks,
Ludo

[milanese]

Take a look to the attached slope 1.06 indicator(build 6xx adapted), this one is doing something simil like you want to do..

Cheers

Tommaso

Tommaso,
Great indicator! Where do I find the explanation of the little icons (arrow up/down, red/green dots) en txt next to the figures?
Thanks,
Ludo

Look here for more explains..http://www.stevehopwoodforex.com/phpBB3 ... 110#p16110

Cheers

Tommaso