10.6 EDSEL

[alorente]

As I mentioned this morning, Extreme TMA indicated that EurGbp was ripe for a substantial fall. It´s on its way now to the bottom H4 band...

Excellent call, Al.
MTF TMA - same basic principles as before, but a new method that complements and improves them.

I´m expecting similar falls on NzdJpy as I said this morning and NzdUsd as I explained yesterday. The TMA´s are in similar positions. It´s getting close. I am short in both of them.

In and out of EG already! Might have exited too early! A few pips green in NJ.

I´m out too EG. I´ll reenter at centerline of H4 if and when it gets there.

[alorente]

AudUsd is getting ready for a fall too. H1 and H4 on top, not quite to D1 but all the slope conditions are met. It should fall soon.

[Gertje]

@ Alorente;

When trading the daily chart using the MTF TMA's what TMA do you use for entry?
For example the current AUDCAD chart, H1 is on top of H4, is on top of D1, is on top of W1.

Do you enter when PA crosses the H1, or wait for PA to cross the D1 which is the TF I'm actually trading.

Thanks in advance for your reply!

I would not take that trade. The Slope of H4 is 0.51. D1 is at 0.39. Never enter short when D1 TMA is over 0.25. You should NEVER trade short when the H4 TMA is over 0.20. Wait patiently until the slopes drop and then enter at the market if you want or on cross of the H4 btop band. I usually enter at the market when the slope conditions are met.

Thanks, I forgot about that one.....
Lots to remember...

[yamez]

I like 10.6 a lot. The only slight weakness it has is that it issues a substantial percentage of false signals. I have been looking at the good signals as compared to the not so good ones and I find that in the better ones, the D1 Sto7 is going with the flow of the trade. The trades that go nowhere usually have the D1 Sto7 against the trade. Would it be to our advantage to have a third dummy light for D1 to the left of the H4? That would allow entering the trade without changing time frame to D1 to check out the Sto7 position.

Al, I like your idea to monitor the D1 Sto 7 on H4. Yamez posted a MTF Sto7 few pages ago. Just set the time frame to 1440 and overlay in the Sto7 window
This way is no need to add a third dumy light.... if you are interested just let me know but tell me how to post the indi cause I never done it before.

I have found H1 TMA+CG ( I'm not endorsing TMA+CG ) lines up with H4 STO7, guided by EDSEL. Try D1.

Post for the MTF STO7 is here, http://www.stevehopwoodforex.com/phpBB3 ... mez#p88058

[milanese]

Tommaso

Is there any way to combine 2 of these in one - so that I can see H4 and H1 or D1 in one indicator pane? Save on real estate....

THanks
Doc

I will take a look...

Cheers

Tommaso

Ok this one is showing two TF OOTB it shows H4 and D1 the alerts can be set for both TF seperat with
extern bool CounterTrendAlertTF1 = true;
extern bool CounterTrendAlertTF2 = true;
the TFs you will use you set with:
extern int FirstTF = 240;
extern int SecondTF =1440;
Note the TF for the MA's used is in this version always H4, let me now i f you wnat here two a second TF for the MA's

AEJ_10.6_STO_ALERT_v2_0TwoTF.mq4

Cheers

Tommaso

[alorente]

AudUsd is getting ready for a fall too. H1 and H4 on top, not quite to D1 but all the slope conditions are met. It should fall soon.

Also, AudUsd is showing a triple divergence to price on the H4 TSI. It is called Green on 10.6 so you may want to wait... What I do with conflicting signals like these is I enter half the normal position and then the other half when 10.6 comes in.

[TraderDesk]

AudUsd is getting ready for a fall too. H1 and H4 on top, not quite to D1 but all the slope conditions are met. It should fall soon.

Here is my picture of AUDUSD on the 1 hour chart. Price is at the top of the 1 and 4 hour band. On the daily chart STO7 is coming off of the 100 mark heading down. Also I see three times PRICE try to break 0.9150-60 level on the 4 hour chart with no success.

I see TMA Slope on H4 is at +20 which is just in the +20 which I understand is recommended for a short to be initiated.

Now D1 and H1 are both in the +30's so is this a criteria for NOT putting into play a market short? Also where would you TP first? At the bottom of the H1 line 0.9094 level? Would you look to take a second TP at the bottom H4 line as well?

Thanks for putting out a great strategy....

4hourAUDUSDMARCH25.png

[alorente]

AudUsd is getting ready for a fall too. H1 and H4 on top, not quite to D1 but all the slope conditions are met. It should fall soon.

Here is my picture of AUDUSD on the 1 hour chart. Price is at the top of the 1 and 4 hour band. On the daily chart STO7 is coming off of the 100 mark heading down. Also I see three times PRICE try to break 0.9150-60 level on the 4 hour chart with no success.

I see TMA Slope on H4 is at +20 which is just in the +20 which I understand is recommended for a short to be initiated.

Now D1 and H1 are both in the +30's so is this a criteria for NOT putting into play a market short? Also where would you TP first? At the bottom of the H1 line 0.9094 level? Would you look to take a second TP at the bottom H4 line as well?

Thanks for putting out a great strategy....

The D1 TMA slope is 0.25 which is good. I don´t pay much attention to the H1 slope because it is very easy to turn. A fast drop will drop the H1 slope quickly. I would not trade H4 or D1 if they are beyond 0.25 to -0.25. The slope conditions are ok for AU.

I Usually take profits at opposite band of H4 but keeping a close eye when it gets to the centerline of H4. If in doubt, if it stalls on centerline I get out. Most of the time, you can hold to the opposite band of H4.

[DocT]

Tommaso

Is there any way to combine 2 of these in one - so that I can see H4 and H1 or D1 in one indicator pane? Save on real estate....

THanks
Doc

I will take a look...

Cheers

Tommaso

Ok this one is showing two TF OOTB it shows H4 and D1 the alerts can be set for both TF seperat with
extern bool CounterTrendAlertTF1 = true;
extern bool CounterTrendAlertTF2 = true;
the TFs you will use you set with:
extern int FirstTF = 240;
extern int SecondTF =1440;
Note the TF for the MA's used is in this version always H4, let me now i f you wnat here two a second TF for the MA's

Cheers

Tommaso

Thanks Tommaso - you are a gem

Would be good to have another version with second TF for the MAs.
Doc

[alorente]

AudUsd is getting ready for a fall too. H1 and H4 on top, not quite to D1 but all the slope conditions are met. It should fall soon.

Here is my picture of AUDUSD on the 1 hour chart. Price is at the top of the 1 and 4 hour band. On the daily chart STO7 is coming off of the 100 mark heading down. Also I see three times PRICE try to break 0.9150-60 level on the 4 hour chart with no success.

I see TMA Slope on H4 is at +20 which is just in the +20 which I understand is recommended for a short to be initiated.

Now D1 and H1 are both in the +30's so is this a criteria for NOT putting into play a market short? Also where would you TP first? At the bottom of the H1 line 0.9094 level? Would you look to take a second TP at the bottom H4 line as well?

Thanks for putting out a great strategy....

The D1 TMA slope is 0.25 which is good. I don´t pay much attention to the H1 slope because it is very easy to turn. A fast drop will drop the H1 slope quickly. I would not trade H4 or D1 if they are beyond 0.25 to -0.25. The slope conditions are ok for AU.

I Usually take profits at opposite band of H4 but keeping a close eye when it gets to the centerline of H4. If in doubt, if it stalls on centerline I get out. Most of the time, you can hold to the opposite band of H4.

Also on AU, realize that the W1 slope is -0.33, this is the mother of all TMAs and the most difficult to turn, so it is calling for a drop. Having said that, 10.6 indicates Buy Only, so you may want to wait...