| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
|
| Simple Indi's to consider for 10.4 https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1702 |
Page 2 of 4 |
| Author: | zentauro67 [ Fri Apr 12, 2013 2:50 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
I prefer stoch signals than AO, but it would be great put a RSI 2 in 4h instead of 5.3.3 I just don´t know the correct way to put it in the indi window. Is it possible to set this combo in the NT TMA window? Maybe RSI could be in dotted line... |
|
| Author: | KevinT [ Fri Apr 12, 2013 7:27 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Try using two indicator windows  RSI + Awesome, and a Stoch fisherman net, as per Ingot, with STO5 highlighted o/c ... Oh! yes we'll need another extra flat screen monitor too $$$  |
|
| Author: | zentauro67 [ Fri Apr 12, 2013 7:45 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
A single window is already too much for me!  Not only because of the size (I use a laptop and no much space remains) but also for psychological reasons. I am easily distracted with indicators. I think the only really useful in 10.4 is 240LMA and RSI2. The rest is additional information and i would like to minimize it. RSI2 and spud stoch combo would be nice, although it may produce too many lines. SPUD STOCH is much more intuitive than AO for manual trading, although EA developers can find it harder to read. AO gives clearer and less frequent signals, so is more reliable for coding. |
|
| Author: | Ingot54 [ Fri Apr 12, 2013 10:40 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Because the Spud Stochastic indicator was built using the 5.3.3 window, it was only visible in the same windows that 5.3.3 was, in Bob's original template. You will need to go into the "Indicators List" using "right click" on your chart. From there you go to "Edit" and then go to "Visualization" and change to "All Timeframes." You may need to do this only with the Stochastic 5.3.3 ... or all of the multi-stochastics in the Spud Stochastic. I was probably a bug I missed when creating the thing ... and is fairly easy to fix. Do not forget to re-save the corrected template as the same name, or else your work will be lost, and need to be redone! |
|
| Author: | Ingot54 [ Thu Apr 18, 2013 11:39 am ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Continuing to explain the Spuds Rope Theory usefulness here, rather than ignite the ire of the forum police by cluttering Bob's personal thread. Let's keep to protocol. Also - we are already well aware that adding more and more and more and more and more indicators does not make more and more and more and more and more pips, so kindly refrain for informing us of our problem here. To alleviate the anxiety of those whose task on earth it is to point out things of error to others, let me simply state that: 1) This thread is dedicated by the author (me) to investigate ways to make safer trades with 10.4 2) We will keep going with (1) above until the boss asks me to desist ... or deletes the thread himself We are in a quiet little corner here, and hope not to disturb others who are doing really, really, really important things elsewhere! If most of us have already read Spuds short 6-page thread here: http://www.forexfactory.com/showthread.php?t=37111 then we are aware that this is not just another MTF indicator. Rather, it indicates the probability ... to experienced users ... of a move having an exceptionally strong run. So how does this thing - let's call it the SFR ... or Stochastic Fishnet Rope - have any hope at all of helping us trade Nanningbob's 10.4 or 10.5 any better? Look - I am not in the business of just chucking another favourite indicator on someone else's fine work, and saying - "Here ya go ... this will fix it!" ... when the thing is not even bent or near broken in any way! The best way to explain this is visually, and so here are a few charts taken today over a roughly 13-hour period. The top one was from 0830 hrs today ... Australian Eastern Standard Time ... then 1630 hrs and 2115 hrs. This way we get to see the evolution of the SFR, and can tell if it is of any use to us or not. EDIT: Have changed the name of the Stochastic Rope from "SS" to Stochastic Fishnet Rope or "SFR" to avoid clashes with other commonly named indicators used on Steve's Forum. |
|
| Author: | Ingot54 [ Thu Apr 18, 2013 11:55 am ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
I have a habit of over-explaining things, and so posts get quite long ... sorry. If we look at the three charts above, we notice: a) Price forming a base just above the 240 b) SFR have all descended in a tight, uniform manner c) Bob's STO5 is the RED Stochastic of the group d) The thick yellow Stochastic is Spud's 14.3.3 which is his trigger to enter a trend, ONCE IT CROSSES THE 23.6 level. (Cough, cough ... sorry for yelling ... but that was a hint) e) This does NOT detract from Bob's rules in any way - it simply reinforces that the uptrend is imminent f) See that the red STO5 has already crossed the 23.6 level ... and price is already on its way up g) See that the SFR are still very tight and orderly h) Long term (Gold colour) SFR are tight and i) Short term SFR (LightSeaGreen colour) are also very tight Those are the basics. The other things we need to be watchful about will be visually shown in the next post But I wanted you to note the evolution of this move, as shown by the SFR. And I wanted to show you that despite what you see price doing, you can trust the SFR. Finally (for this post anyway) you need to be aware that the key stochastic in the SFR ... the 14.3.3 ... has NOT yet crossed the 23.6 level. Why is this important? Because Spud told us (through his years of experience working with Stochastics) that once the 14.3.3 moves through the 23.6 level, it usually takes nefarious intervention, as opposed to the celestial kind, to prevent the move from gathering the momentum often attributed only to freight trains and speeding bullets! In the meantime, all we are doing is following Bob's rules, and placing pending orders at appropriate levels. Nothing complicated about it, and the SFR takes up no more room on a chart, or attracts no more attention, than the STO5 or the RSI2. EDIT: Have changed the name of the Stochastic Rope from "SS" to Stochastic Fishnet Rope or "SFR" to avoid clashes with other commonly named indicators used on Steve's Forum. |
|
| Author: | Ingot54 [ Thu Apr 18, 2013 12:56 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Ok ... one more post for tonight ... but the most important of all. Look - if all the SFR does is reinforce what Bob's 10.4 is telling us anyway ... then we are just shuffling cards and the deal is going to be the same anyway. But after you see the next 5 charts on this post, I hope you change your mind about the usefulness of the SFR The single most important thing Spud gave to the forex trading world, was an indicator that shows when a whipsaw is en train and no one likes to trade them (well there are specialist traders who do this). The indicator is the SFR, and so far we have not really seen much of its power ... until now. In the charts below, you can see a typical 10.4 setup, complete with a level to enter from - the WMS1. In this trade, we get whipsawed out for a small loss. No problem there ... except it may just have been avoided ... or avoidable. In these charts below I have annotated where the SFR seems to be coming apart - like a fraying rope - and the same thing is occurring with price. The trend is coming apart ... confused ... ranging and consolidating. And it is all happening between the WPP and the WMS1 which just so happens to be an important "00" level (the 1.4900 level). Follow the 5 charts bar-by-bar and you will see that the SFR gave ample warning of this event. You could have pulled your orders ... or pulled your trade if your pending order got taken. Admittedly this would only be understood by you if you have the experience to see it setting up, and interpret the risk correctly. And that is what I am attempting to impart to you - the knowledge that over time you will be able to see the warning signs that a trade is NOT going to play out this time. Bob's new footnote: GOOD JUDGEMENT COMES FROM EXPERIENCE===AND EXPERIENCE COMES FROM POOR JUDGEMENT It's free ... and no burden. EDIT: Have changed the name of the Stochastic Rope from "SS" to Stochastic Fishnet Rope or "SFR" to avoid clashes with other commonly named indicators used on Steve's Forum. |
|
| Author: | Ingot54 [ Thu Apr 18, 2013 1:31 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
After all this posting tonight, I got back to look at what GBPUSD is really doing. Right now we have an extremely powerful setup emerging. I can only suggest such a thing given the condition of the SFR All Stochastics in the rope are tight, orderly and free of "fraying. Further, they have now all crossed the 23.6 level, and heading up in unison. This is the kind of trade we need to see, and can have confidence in adding to. I put Fibs on the Daily chart, and the 61.8 level indicates 1.5425 as a likely target. Let's see how it plays out. I say this because at the present time, I can see the rally may be powerful enough to break a few levels above, but let's be careful and take it easy. The WPP is a very powerful brick wall too! And it is just 40 pips north as I write. EDIT: Have changed the name of the Stochastic Rope from "SS" to Stochastic Fishnet Rope or "SFR" to avoid clashes with other commonly named indicators used on Steve's Forum. |
|
| Author: | mjws00 [ Thu Apr 18, 2013 4:49 pm ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Superb example and explanation, Ingot. I've always liked the information the layered, guppy style MA's give. Never saw spuds application till you mentioned it. Reading the folds and patterns is essentially MTF analysis on steroids. Great tool to learn about. Thanks. Mike |
|
| Author: | Spudfyre [ Wed Apr 24, 2013 3:02 am ] |
| Post subject: | Re: Simple Indi's to consider for 10.4 |
Well this is certainly an interesting way to use the stochastic rope. I see I have a lot of reading ahead of me  |
|
| All times are UTC | Page 2 of 4 |
|
Powered by phpBB® Forum Software © phpBB Limited |
|