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Slope LEVEL -- or DIRECTION?
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Author:  Baluda [ Fri Sep 07, 2012 11:28 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

spotdespot wrote:In an ideal world I would love to be able to use one slope indi that allows me to have:
  • Multiple slopes
  • Each with an adjustable TMA Period and ATR Period
  • With an "auto" or Fixed timeframe for each slope
Dave,

So no need for a MA on one (or more) slope(s)?

Paul
Author:  spotdespot [ Fri Sep 07, 2012 11:57 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

Paul,

Yes and no really - because the Empty4 overlayed one seems to work better than the current "correct/scaled" one (for my needs anyway) I would probably not use it.

Cheers,
Dave.
Author:  cmeade2 [ Fri Sep 07, 2012 3:53 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

spotdespot wrote:Paul,

Yes and no really - because the Empty4 overlayed one seems to work better than the current "correct/scaled" one (for my needs anyway) I would probably not use it.

Cheers,
Dave.
I think I would second this request, and my guess is that it should be easy to code. In fact, given that Baluda had posted the mq4 for a TMA mtf, I might try it this weekend.

Basically Spot is talking about the setup that he posted last week with the three different TMA's slopes (with different length's and ATR's). Basically one is looking for cross overs.

The main problem with this setup is that you have to keep rescaling the windows manually because it won't work on an automatic basis with three different TMA slope indicators.

There is only a need for one MA, applied to the 20/100 TMA.
Author:  cmeade2 [ Fri Sep 07, 2012 4:11 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

Reviewing Paul's code, I don't think I can come up with what Dave is looking for. Basically there is a need to enter ATR's and lengths for each of the TMA slopes. In Paul's code, it's already embedded at 20/100.
Author:  marsie [ Sat Sep 08, 2012 2:09 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

spotdespot wrote:
I have all charts open all the time but really you just need to check once a day and make a note of pairs of interest and check them periodically.
Thanks, Dave, for your detailed answer. My PC is to weak for more than 10 charts with neotraders cpu hungry indies. More charts and the screen is frozen.
Author:  NeoTrader [ Sat Sep 08, 2012 8:21 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

hi marsie,
marsie wrote:Thanks, Dave, for your detailed answer. My PC is to weak for more than 10 charts with neotraders cpu hungry indies. More charts and the screen is frozen.
Have you tried the maxBars setting?

Set it to something above 100 (eg. 500)... then it calculates only the last 500 bars... for real time trading you don't need the whole chart to be calculated.

happy weekend,

NeoTrader

-
Author:  marsie [ Tue Sep 11, 2012 12:43 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

NeoTrader wrote:Have you tried the maxBars setting?

Set it to something above 100 (eg. 500)... then it calculates only the last 500 bars... for real time trading you don't need the whole chart to be calculated.-
Yes. This is the only way to trade with 10 charts. When I use all bars would my pc with 2 or 3 charts begin to cry.
Author:  spotdespot [ Tue Sep 11, 2012 4:17 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

Quick update on the TMA/MA cross stuff. I decided to close a lot of the trades I had open today. The simple reason is that the D1 TMA slope direction had changed significantly on many pairs that had multiple trades open. I said right from the start that trade exits might be tricky and I think this clear direction change might be the best bet as an exit trigger. The bottom line being that if the D1 TMA slope turns back round we can jump back in.

I have been procrastinating about this for a few days and should have made the decision earlier. I have been a little bit too preoccupied with getting huge pip baskets, after the great start, rather than aiming for secured profits above all else. Some of this I made a conscious decision to use it as a learning curve but then I think I went too far.

Anyway - you will see from below that although the results are pretty good the equity given back is something that needs to be worked on! ;)

For info - all trades were < 1% risk, most significantly less.

EDIT: As explained before - custom start date set at the time of starting this method.

Image

EDIT2: :) Doing a lot of editing here but I should say that I kind of expect pairs that were strongly trending like AUDCAD to turn back in to the trend and when/if they do I will jump back in. I think taking profits off the table makes sense until I have much more confidence that price will behave as I expect it to.
Author:  cmeade2 [ Tue Sep 11, 2012 4:23 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

spotdespot wrote:Quick update on the TMA/MA cross stuff. I decided to close a lot of the trades I had open today. The simple reason is that the D1 TMA slope direction had changed significantly on many pairs that had multiple trades open. I said right from the start that trade exits might be tricky and I think this clear direction change might be the best bet as an exit trigger. The bottom line being that if the D1 TMA slope turns back round we can jump back in.

I have been procrastinating about this for a few days and should have made the decision earlier. I have been a little bit too preoccupied with getting huge pip baskets, after the great start, rather than aiming for secured profits above all else. Some of this I made a conscious decision to use it as a learning curve but then I think I went too far.

Anyway - you will see from below that although the results are pretty good the equity given back is something that needs to be worked on! ;)

For info - all trades were < 1% risk, most significantly less.

EDIT: As explained before - custom start date set at the time of starting this method.

Image
Spot are you entering the trade when you have an MA cross on 2 timescales? What is the range of timescales you are looking at?
Author:  spotdespot [ Tue Sep 11, 2012 4:35 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?

cmeade2 wrote:
spotdespot wrote:
Spot are you entering the trade when you have an MA cross on 2 timescales? What is the range of timescales you are looking at?
No - I am using the method as described. I might check the H4 multi-tmaPeriod chart for the best entry but otherwise just D1.
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