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Slope LEVEL -- or DIRECTION?
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=724		 Page 13 of 22
Author:  fire580 [ Tue Aug 14, 2012 8:04 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Sorry to hear that ....your method seem so promising, maybe one of the super coders here will jump on this.
Author:  RockyJ [ Tue Aug 14, 2012 8:08 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
fire580 wrote:Sorry to hear that ....your method seem so promising, maybe one of the super coders here will jump on this.
The NT Slope crossing the MA would be neat to have in a MTF version.
Author:  RockyJ [ Tue Aug 14, 2012 8:11 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
garyfritz wrote:Rocky, how much does that TVI indi repaint? It looks *too* perfect -- smooth, perfect signals, etc. If you just bought when it turned green and shorted when it turned red, on the charts you posted at least, you'd clean up. There are hardly any losers. I doubt it works that nicely in realtime.
Yeah , you know that old saying, If it looks to good to be true ... and believe me there is a ton of truth in that..
Author:  fire580 [ Tue Aug 14, 2012 8:14 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Agree, and if you could have another or somehow incorporated together an alarm when the TVI aligns in the direction of the htf TMA slope - this could be put on all the charts and you just react when you hear the alerts go off....
Author:  lucklogic [ Wed Aug 15, 2012 2:46 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Hi,

This has a user set Alert built into the TVI and is a non repainting indi - supposedly !

:ugeek:
Author:  fire580 [ Wed Aug 15, 2012 3:25 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Thanks lucklogic, I'll give it a spin
Author:  hammondnz [ Wed Aug 15, 2012 9:14 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
RockyJ wrote:Graham,

Here is the open indicator. just puts a line on the open timeframe that you input. The template uses it twice once for daily and once for weekly but it can be made to display any open .. day week month ...
Many thanks Rocky,
I looked at that one wondering if it was what you were using but thought I'll wait and see..... :)
Author:  spotdespot [ Wed Aug 22, 2012 9:44 am ]
Post subject:  TMA/MA Cross
I just thought I would post what I have been doing here as I mentioned in the Bob/Jem/Shelley basket thread. First maybe just to grab your attention - here are the results - obviously the $ amounts are irrelevant but the pips should tell you something. These are all TMA/MA Cross trades:
results.gif
What I have basically been doing is using the slope direction to enter the trade and using a positive cross of the 21 LWMA (applied to the close) by the D1 TMA (default period/atr/TMA True/Fixed D1 timeframe)) to trigger the trades. I have just used NEO's great NT TMA-CSS-SP indi and overlayed the 21 LWMA (you need to choose "previous indicator when you apply it then change it to "Close" otherwise it will be applied to the main window). This method is really just an adaptation of what NEO has shown here previously (all credit to NEO). In this case it is just using D1 rather than shorter timescales and doesn't require 2 crosses etc.

What I mean by a positive cross is one with momentum - in this case it is just a measure of slope direction - so a "shallow", low angle cross I would probably stay out of. There is some discretion here as I have avoided EU for example as it has been so temperamental (for obvious reasons). The method is also not perfect - there was an EU cross upwards on the 8th June after which price rose a couple of hundred pips then dropped over 600 without a cross in the other direction.

What I have also done is added on/scaled in to trades by buy/selling obvious pullbacks/rallies as long as the angle of the D1 TMA is still strongly in the right direction. I do this by looking at Support and resistance and time it with the H4 TMA turning.

Some of these trades I was perhaps a bit lucky in that if I had worked out this method earlier I would have been in more drawdown - I effectively got in late.

Some things that I have noticed:
  • The trades work best when the cross is "positive" with momentum
  • It only works cleanly for me on D1 but I have not looked at other timeframes in depth
  • Crosses that occur near the zero level for the D1 TMA seem to be less effective and are often lacking momentum. I think this is because when the cross to occurs at this point often price has been ranging for some time.
  • You need to use a BIG SL and expect some drawdown. The size of the SL is dependent on the pair and its ATR. I have just been using the last swing low/high BUT if this isn't possible then using looking back at the pair and visually seeing what historical drawdown would have been.
  • It is not straightforward to visually back test this as when you overlay the LWMA on the TMA and scroll back the scaling changes - however it is still possible to a degree.
  • As in the point above - the scaling can be an issue depending on the magnification of the chart - check it out and you will see what I mean - take UJ as an example.
  • I am not 100% sure about exits for this method yet - which could prove to be tricky. You could just wait for a cross in the opposite direction and swing trade this but I am not sure that's the best method - any ideas welcome!
Obviously this is looking at a longer timeframe than most people are used to dealing with but of course this doesn't need to be your only strategy. It does look promising so far though and remarkably easy to manage (exits aside) - which I like :lol:

Some examples attached.

GL.

Cheers,
Dave.
Author:  Zypip [ Wed Aug 22, 2012 11:35 am ]
Post subject:  Re: TMA/MA Cross
spotdespot wrote:
What I have basically been doing is using the slope direction to enter the trade and using a positive cross of the 21 LWMA (applied to the close) by the D1 TMA (default period/atr/TMA True/Fixed D1 timeframe)) to trigger the trades. I have just used NEO's great NT TMA-CSS-SP indi and overlayed the 21 LWMA (you need to choose "previous indicator when you apply it then change it to "Close" otherwise it will be applied to the main window). This method is really just an adaptation of what NEO has shown here previously (all credit to NEO). In this case it is just using D1 rather than shorted timescales and doesn't require 2 crosses etc.

What I mean by a positive cross is one with momentum - in this case it is just a measure of slope direction - so a "shallow", low angle cross I would probably stay out of. There is some discretion here as I have avoided EU for example as it has been so temperamental (for obvious reasons). The method is also not perfect - there was an EU cross upwards on the 8th June after which price rose a couple of hundred pips then dropped over 600 without a cross in the other direction.
Hi Spot,

Very nice results you have here. Thanks for sharing.

I was just thinking whether an indi showing the steepness of the cross could be created. Ideally, an indi somehow combining the divergence between true TMA slope and 21 LWMA + the steepness of the cross + the "positiveness" of the cross could have some value.

Zyp
Author:  spotdespot [ Wed Aug 22, 2012 12:12 pm ]
Post subject:  Re: TMA/MA Cross
Zypip wrote:
Hi Spot,

Very nice results you have here. Thanks for sharing.

I was just thinking whether an indi showing the steepness of the cross could be created. Ideally, an indi somehow combining the divergence between true TMA slope and 21 LWMA + the steepness of the cross + the "positiveness" of the cross could have some value.

Zyp
Glad I can post something useful!

As I have been dealing with D1 timeframe there is no great rush to get in to trades and the steepness of the slope is fairly easy to eyeball. Perhaps if something similar were developed for lower timeframes an indi would be more useful there. Just my opinion though.
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