stevehopwoodforex.com • Slowkeys Intraday Setup Using Slope Strength and Diff

Author:

slowkey [ Thu Jul 19, 2012 8:07 pm ]

Post subject:

Combined Strategy

Eventually when I get a better understanding how all the charts can work together I will start a new thread for a combined strategy. I will need to trade for a few months and get some comfort in my mind that it can all work well together. That way everything will be together in one place. My goal would be to go through the time periods and be able to know with the analysis the best strategy to trade at the moment. Some pairs lend themselves to position and swing trading very well while others are a little more sensible to day trade. Sometimes you may want to have a couple of kinds of styles with a pair. You might trade the EURUSD out to the central deviation on the hourly and than take a Four Hour swing trade back into the prevailing D1 slope trend. I hope to make the break down of looking at the time periods a little more systematic so that I can take advantage of the best choice or style of trading a Pair at the moment. I think being able to look at a pair from an integrated time period approach could be very effective. The SDC gives a nice structure to compare each time period with the other visually and technically.

I do think the Combined Template is really more useful now on the Four Hour and Daily time periods with the changes to the SDC and gives us really quick and useful reads from the deviation channel to compare to the Hourly in a top down approach. You can now look at the Daily and get a sense if the deviation channels seem to indicate a possible top or bottom. The four hour is very nicely setup up now to swing trade from deviation channels.

Author:	slowkey [ Thu Jul 19, 2012 5:32 am ]
Post subject:	MAJOR UPDATE IN THE TEMPLATE
The last statement or question if you may about the SDC got me thinking. The whole time I wrote it something was bothering me about the 4 hour and Daily charts on the template. The deviation channel were just not right at all. I had not given that enough thought before. So here is a vastly improved template that I think gives the 4 hour and Daily the same benefits the hourly and below SDC benefits from. Useful deviation channels. I think I have come close to calibrating them. You may want to adjust some more but I think now if you look at each chart in decreasing or increasing order from the hourly through daily time periods the info you get is much more timely and helpful. The four hour chart ... eurusd 4 hour.gif The daily chart .... eurusd daily chart.gif I think if you are use to using the hourly SDC now the Four Hour and Daily are very much complimentary. The biggest thing we gain from the SDC is the Deviation channels and price interacting with them. I think I have given that now to the Four Hour and the Daily. I took the deviation channel off of the weekly chart because it does not gain much from the SDC. A few Fibs drawn by hand on the weekly could be more beneficial. I really appreciate zah1231 input on the SDC because it got me thinking about the longer time period SDC's.

Author:	zah1231 [ Thu Jul 19, 2012 6:05 am ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
Hi Slowkey, Thanks for this detailed explanation. I think trading the hourly chart with SDC is not easy and you might get whipsawed. Also, what you explained about EU possible trend change can be seen on Nanningbob 10.2 H4 and daily EU chart. I agree with you on not over-relying on SDC and using it only as a guide. BTW, thanks for the new improved template.

Author:	slowkey [ Thu Jul 19, 2012 6:22 am ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
zah1231 wrote:Hi Slowkey, Thanks for this detailed explanation. I think trading the hourly chart with SDC is not easy and you might get whipsawed. I will try and use it on H4 instead. BTW, thanks for the new improved template. Your very welcome and I appreciate your input and it helps me greatly when traders participate. The shorter time period charts are more difficult to trade I think than larger time periods. Understanding the intraday range can be more difficult. However when the EURUSD is trending strongly and conditions are more normal it can be a very nice trading experience to see price move 50 to 100 or more pips in your favor. I think conditions will improve as we get later into summer. GBPJPY and EURJPY are two other pairs you can have a real nice experience trading. If you look at some of the other pairs like EURAUD for instance on the higher time periods they can be very nice longer period trades. If you look at a weekly chart of EURAUD you will see it has been trading south now since 2008. This makes for a very nice carry trade. Swing trades into the prevailing trend should be nice.

Author:	slowkey [ Fri Jul 20, 2012 7:04 am ]
Post subject:	EURUSD
It has been a little hard to trade EURUSD this week with some narrow trading ranges and dollar weakness. It would seem that the EUR is getting more a break from some temporary dollar weakness than any real change in the fundamentals of the EUR zone. I think the Pair is on Vacation really. On the hourly time period most of my trades are in the EURUSD so this month is the first month that my Myfxbook analytic report shows this not to be true but than I have not been trading a lot this month compared to the rest of the year so I think I am on Vacation too.

Author:	slowkey [ Mon Jul 23, 2012 3:32 pm ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
This is the heart of Horse Racing season for me so most of my time this and next month will be on the handicapping of the Delmar CA and Saratoga NY summer meets. These meets are the divine summer Mecca for US handicappers. I will take an occasional trade and try to post and think about integrating Slope and SDC for all 3 types of trading discussed in my threads. However I will essentially be vacationing for the next 5 weeks and watching the Olympics as well. Over all volatility in Forex remains low with trends not very well sustained at the moment. This is typical summer but a little worse I think than normal. There is so much uncertainty in the market. It is a good time to take a break.

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Author:	magi92 [ Mon Jul 30, 2012 4:59 am ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
Hello to all forum participants. I'm newbie on the forum. Slowkey I also love watching the Olympics but you need to earn. I want a little clarification is that the strategy is unique and delicious, even for a period of M5.After playing with the settings look as possible to get a quiet trade. Please do not judge strictly. But in my opinion your design is very well possible to use periods and melenkih.Sorry for bad English. I use Google Translator

Author:	magi92 [ Mon Jul 30, 2012 2:46 pm ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
I like this period of M 15 and maybe someone will use this indicator assembly.rules for the use of the lowest indicators you can find on this forum. Above below 0.8

Author:	slowkey [ Wed Aug 01, 2012 8:17 pm ]
Post subject:	Re: Slowkeys Intraday Setup Using Slope Strength and Diff
magi92 wrote:I like this period of M 15 and maybe someone will use this indicator assembly.rules for the use of the lowest indicators you can find on this forum. Above below 0.8 I do not trade the 5 minute period. The SDC allows for the 15-30-60 min periods to be in sync so that what you see on the hour can be magnified some on the lower time periods. I like either the 30 min period or the 60 minute period for day trading personally. To much noise for me on the 5 minute. The 5 minute time period can get you overreacting a bit and chasing price. I like the calmness of higher periods. But your welcome to experiment of course. I am not sure how you are using the slope indicators but I use my own setting for the lower time periods for timing and still like the standard slope indicators on the 4 hour and daily to give me overall trend direction. I really do not pay much attentions to the slope numbers on the lower time periods but just the divergence and have the period at 12 and atr 40 for entry. I stick to the setting of 100 atr and 20 period for the slope on the daily and 4 hour for trend direction and sell-buy logic.

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