Dave,spotdespot wrote:Mmm - that's messy. I think I will just use what works for me and not worry too much about the workings. Even after reading that I am not entirely sure what is happening with each.
Welcome to mql4!
Paul
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| Slope LEVEL -- or DIRECTION? https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=724 |
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| Author: | spotdespot [ Fri Aug 31, 2012 3:32 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Ah - ok - thought you were looking at the D1 setup not the multi-TMA lower timeframe stuff. Looks good! Cheers, Dave. |
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| Author: | cmeade2 [ Fri Aug 31, 2012 3:39 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Yes I have the H1 and H4 TMA slopes on the same window. Another key point is that you are actually looking for two cross overs. First the 14/60 cross over. But then it is also key that the 20/100 crosses the longer time frame TMA. |
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| Author: | spotdespot [ Fri Aug 31, 2012 3:45 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Yes - exactly - the fast one 14/60 just gives you a "heads up" but if you followed that exclusively you would have far too many false signals. I would advise that you check past action for whatever pair you are looking at as some pairs just don't seem to work quite so well - not really sure why yet. Also, in my experience, you will get a much higher rate of success if you trade in the direction of the D1 TMA slope (value not so important). GL. Cheers, Dave. |
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| Author: | cmeade2 [ Fri Aug 31, 2012 3:47 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Right for example right now you have a cross of the 14/60 on the M15 AU, but the 20/200 hasn't crossed and it doesn't look like it will, and it will probably roll over. Good point on the D1 confirmation |
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| Author: | spotdespot [ Fri Aug 31, 2012 3:56 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Yes - AU is retracing on the D1 but the D1 slope direction is still strongly down so I would be looking at getting back in to the longer term trend with whatever timeframe I was using. I have pretty much only concentrated on the longer timeframes for the last few weeks, purely as it suits me more. Before that I spent quite a few weeks looking at the lower timeframes. |
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| Author: | Baluda [ Fri Aug 31, 2012 6:54 pm ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Dave, Welcome to mql4! Paul |
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| Author: | mobthehop [ Sat Sep 01, 2012 12:31 am ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
cmeade - cool idea to apply RSI(2) on Slope... Will give it a whirl as well, though I will probably use RSI(3), my personal preference.... Mop |
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| Author: | spotdespot [ Mon Sep 03, 2012 8:14 am ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
I'm surprised more people aren't showing an interest in this thread as I am convinced more than ever that, although slope level is important, slope direction is key. I am taking some profits today ahead of Draghi's speech as with the multi-level basket I have built any significant move in one currency has a big (slightly scary) impact on the overall basket. I have set a 200 pips trailing stop on all trades and will close half of each trade that has hit that TS. GL all. |
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| Author: | Baluda [ Mon Sep 03, 2012 9:55 am ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Spot, Impressive basket! It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator.  Paul |
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| Author: | The_Snowman [ Mon Sep 03, 2012 10:22 am ] |
| Post subject: | Re: Slope LEVEL -- or DIRECTION? |
Aw, that's nothing, those Pitbull Brijon traders do that all the time, and they handle drawdown at the same time!  May I ask, what entry technique was used? Thanks, John |
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