These ATR values for Dow Jones (DJ30) looking strange
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| Price-o-Meter Current Price Action Speed Indi https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=4815 |
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| Author: | heart1010 [ Thu Jul 21, 2016 6:52 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
These ATR values for Dow Jones (DJ30) looking strange : |
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| Author: | renexxxx [ Thu Jul 21, 2016 7:04 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
Yes, but who is using Dow Jones ?! The function that returns the PIP factor for a symbol, has never heard of Dow Jones (DJ30), so it can not return the correct PIP factor. What is it anyway? |
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| Author: | RisklessPips [ Thu Jul 21, 2016 8:29 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
PoM-Indi was built because sometimes especially when markets are flat you want to know where to look for a little action.  PoMTrader was built so that when you find that action you can jump in right away and party.  The action identified by PoM is fast, sometimes wild and often short lived. Identifying such an environment is definitely of value if you are already at the party and suddenly it goes wild - remember CHF 2015, Brext June 2016 ? Also if Mitsubishi Corp orders 10 new super oil tankers and puts a down payment on them, you never know that might move a pair or two depending on where the economic activity will take place. PoM-Indi will tell you about these moves as they happen i.e right NOW ! OK - So you weren't at the party but PoM has identified some action. Do you want to get in ? This is the 6 million dollar question to which we are slowly finding answers. Here are a few observations. PoM uses ATR as a benchmark. The moves you want to take part in are those where the benchmark is obliterated, smashed and bundled up for matchsticks - those are real powerful moves.  What does smashed mean ? If a pair moves shows PoM value of 50 with elapsed time of 65 that is NOT smashing it. If it shows a move of 250% with elapsed time of 40% that is smashing it !! Pairs moving fast in a quiet market environment can be dangerous because there is little general support / liquidity. Pairs moving fast in a fast market environment can also be dangerous, but these have support and liquidity hence offer better prospects for quick Pips When are the fast moving market environments from within which we pick fast moving pairs ? Glad you asked All major session crossovers (Asia, Euro and US) - Check your clocks to see when these cross over in your time zone. 3 to 4 hours into the major sessions. So how do you take advantage of these "smash it" type of moves ? For starters do not use PoMTrader on M15 or below unless you are a seasoned scalper. M30 can be a real roller coaster but it is manageable. H1 and above are Cool. Take a look at the shot below At the fast moving market periods look for fast moving pairs and using small lot sizes, tight stops (I place my stops about 10 pips away and my TP about 30 pips away. I also trail the price to ensure if the trade goes into profit I take a few pips) and generous TP see what happens. I also exit the trade if SL, TS or TP have not been hit at the end of the TF I am trading. PoMTrader will never take a lot of Pips. It will however take very fast Pips |
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| Author: | RisklessPips [ Thu Jul 21, 2016 8:56 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
look at the top 3 PoM shorts on M30 Here are the charts Why did Yen suddenly move so quick ? I don't know. But PoM tells you as it happens so you can (hopefully) add to your position or get out. Edit I found out later the BoJ Governor had spoken and net result of speech was a stronger (momentarily ?) Yen. PoM told me even before I knew the news something was afoot ! |
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| Author: | heart1010 [ Thu Jul 21, 2016 11:55 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
Why not using PoM for the major indices like Dow Jones, S&P 500 or DAX? |
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| Author: | rozmer [ Thu Jul 21, 2016 6:19 pm ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
A suggestion , this indi can be use as follows- just before a major news release on a certain pair ,drag it onto that pair,wait for the release ,and follow the indi !!!!!!!. This way you don t have to search and waste your trading time and miss great oppertunities-you now will be ready!- for that trade.Its like target shooting,you know when to pull the trigger.  Regards Rozmer |
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| Author: | matt_32 [ Thu Jul 21, 2016 7:20 pm ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
This is extremely dangerous since the pair can move up or down violently (Stophunt) before continuing to its predefined path. M |
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| Author: | tomele [ Thu Jul 21, 2016 10:39 pm ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
Hi, I think PoM is not for trading news. If you want to trade news, you have to know what you are doing, watch the charts and react very fast. PoM will show you unexpected fast moves. Just my 2 cents. |
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| Author: | dentiok [ Sun Jul 24, 2016 1:42 pm ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
the concept is a true diamond made gem with the indicator and EA. Thanks for the great work and for sharing. |
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| Author: | dentiok [ Mon Jul 25, 2016 2:32 am ] |
| Post subject: | Price-o-Meter Current Price Action Speed Indi |
a couple questions please 1. when I can expect these cells light (green or red) up? certain values? what pom values? 2. It is relevant this sad face in the proper functioning of the EA tool? Thanks edit: 2nd question solved  |
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