stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

Price-o-Meter Current Price Action Speed Indi
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=4815		 Page 2 of 11
Author:  Jemook [ Tue Jul 19, 2016 4:33 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
RisklessPips » Tue Jul 19, 2016 3:06 pm wrote: Could you have entered a trade here?
Could you have added to a position here ?
Considering it's done most of it's ATR I wouldn't trade it. I've been watching the H1 charts and waiting for 20% or the elapsed time to pass. Then I check to see which pairs are red/green and have not completed the H1 ATR and look to trade it.

Can I tell by looking at the dashboard if the pair has reached its ATR for that timeframe? A % of ATR completion per timeframe could be a cool feature.

cheers
Jeremy
Author:  RisklessPips [ Tue Jul 19, 2016 4:55 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Jemook » Tue Jul 19, 2016 6:33 am wrote:
Considering it's done most of it's ATR I wouldn't trade it. I've been watching the H1 charts and waiting for 20% or the elapsed time to pass. Then I check to see which pairs are red/green and have not completed the H1 ATR and look to trade it.

Can I tell by looking at the dashboard if the pair has reached its ATR for that timeframe? A % of ATR completion per timeframe could be a cool feature.

cheers
Jeremy
Cautious and wise approach Jem.

Given that the ATR is a benchmark, I guess it should be respected but the sheer speed (momentum) indicated may weaken that benchmark? Let's experiment and see in due course :o

My initial observations (which are evolving) are that these super charged moves occur (mostly) at 1 or more of the following points
1) Start of a new candle
2) Start of Euro / US session
3) A few hours into Euro / US session

If you catch the start of those speed moves - you need only be in the trade for a few minutes to pick up lighting quick Pips.

As to your last point unless I misunderstand your question, if PoM shows 100% (+ve or -ve) then it has done the ATR for that TF.

Charles
Author:  Jemook [ Tue Jul 19, 2016 5:08 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
RisklessPips » Tue Jul 19, 2016 3:55 pm wrote:
Cautious and wise approach Jem.

Given that the ATR is a benchmark, I guess it should be respected but the sheer speed (momentum) indicated may weaken that benchmark? Let's experiment and see in due course :o

My initial observations (which are evolving) are that these super charged moves occur (mostly) at 1 or more of the following points
1) Start of a new candle
2) Start of Euro / US session
3) A few hours into Euro / US session

If you catch the start of those speed moves - you need only be in the trade for a few minutes to pick up lighting quick Pips.

As to your last point unless I misunderstand your question, if PoM shows 100% (+ve or -ve) then it has done the ATR for that TF.

Charles
Very cool. Does PoM stands for Percentage of Move? Another thing I'm looking at:

1. Look for the D1 PoM that are red/green and haven't reached 100% for direction
2. Watch each time a new H1 candle opens and the H1 PoM starts moving in the same direction as the D1 (ie red/green matching D1 and H1) then it's probably a good idea to jump in the same direction of the D1 and try and capture as much of the H1 PoM % as possible.

Cheers
Jeremy
Author:  RisklessPips [ Tue Jul 19, 2016 5:20 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Jemook » Tue Jul 19, 2016 7:08 am wrote:
Very cool. Does PoM stands for Percentage of Move? Another thing I'm looking at:

1. Look for the D1 PoM that are red/green and haven't reached 100% for direction
2. Watch each time a new H1 candle opens and the H1 PoM starts moving in the same direction as the D1 (ie red/green matching D1 and H1) then it's probably a good idea to jump in the same direction of the D1 and try and capture as much of the H1 PoM % as possible.

Cheers
Jeremy
Actually we weren't that clever :D - PoM is just our shorthand for Price-o-Meter - but I like Percentage of Move - Nice one. :clap: :clap:

I like the approach you are drafting out - let us know how it plays out. I will try it out and also draft out some approaches before setting them out here for people to consider.

Thanks Jem

Charles
Author:  Jemook [ Tue Jul 19, 2016 5:25 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
RisklessPips » Tue Jul 19, 2016 4:20 pm wrote:
Actually we weren't that clever :D - PoM is just our shorthand for Price-o-Meter - but I like Percentage of Move - Nice one. :clap: :clap:

I like the approach you are drafting out - let us know how it plays out. I will try it out and also draft out some approaches before setting them out here for people to consider.

Thanks Jem

Charles
Here's quick profitable example for this hour. Note M1 chart.
quick_example.png
* Gotta get out as soon as the green/red dissapears on H1 though, it turned around as soon as we lost the green.

Cheers
Jeremy
Author:  RisklessPips [ Tue Jul 19, 2016 5:48 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Jemook » Tue Jul 19, 2016 7:25 am wrote:
Here's quick profitable example for this hour. Note M1 chart.



* Gotta get out as soon as the green/red dissapears on H1 though, it turned around as soon as we lost the green.

Cheers
Jeremy
Jem

You got it in one - due to the speed of movement users have to be nimble - in and out quick. But Pips can be made V quickly.

I am talking to Rene about possible enhancements to make this nimble requirement easier for users. Watch this space. :smile:
Author:  Jemook [ Tue Jul 19, 2016 6:16 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Just saw another 2 trades work nicely on the hour, AUDJPY and EURNZD

And yes, you can definitely keep holding even if it excees 100% of ATR.. as long as it stays red/green.

Nice one

Cheers
Jeremy
Author:  jal811 [ Tue Jul 19, 2016 7:09 am ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
This is inspired. A new way to look at/for volatility. It is good for scalping , also good for entries to avoid lull period where one has to endure dd or wait till market activity 'wakes up'. i tried this yesterday, it really is a gem a good surveillance dashboard. Definitely adds value.

Thank you to the creators and for the generosity in sharing. :clap:

:xm:
Author:  Jemook [ Tue Jul 19, 2016 12:49 pm ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Had a couple of ideas

1. Option to only show (and calculate to save CPU) the pair on the chart. This way the information can also be used as a heads up display when dropped on any chart for only that pair.

2. Perhaps bold the text on the ATR for any timeframe that has already reached it's ATR. I know this can be seen with the PoM column - however sometimes the ATR can be reached and retrace. For my trading if the ATR has already been reached for a TF then I'm not interested in getting in and chasing it again if it retraces. Bolding the text would show me that it has already reached ATR at least once during that TF.

Hope that makes sense. Probably one of the cooler concepts I've seen come out of SHW in recent years and there's been some great stuff.

Cheers
Jeremy
Author:  Wavegarrick [ Tue Jul 19, 2016 1:07 pm ]
Post subject:  Price-o-Meter Current Price Action Speed Indi
Have to agree whole heartedly with all the compliments here....Very cool stuff indeed Charles and Rene :good:

Thanks
All times are UTC Page 2 of 11

Powered by phpBB® Forum Software © phpBB Limited