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Slope LEVEL -- or DIRECTION?
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=724		 Page 5 of 22
Author:  Jonathan2FI [ Wed Aug 01, 2012 6:05 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Yes I see - it would miss some but the double confirmation would reduce no. of trades but increase RR. In addition each currency pair would have its own character so optimisation of trigger value level on H1 would again improve RR mmmm. What would you do after H1 peak at 0.8.has triggered say a Long trade since D1 & now possible h4 last move is up....but between H1 peaks when trade is open D1 AND OR H4 move down. Intuition exit ...lets see what the stats say Jonathan
Author:  SteveHopwood [ Fri Aug 03, 2012 9:43 am ]
Post subject:  New toy
New toy to play with, folks. I could not resist Slopey Slope. :lol:

http://www.stevehopwoodforex.com/phpBB3 ... ?f=5&t=745

:D
Author:  NeoTrader [ Fri Aug 03, 2012 8:20 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Hi Gary and all...

I posted this first in the Slopey Slope Thread but I think it is also a good fit here...

I think the Idea of just using the Direction is the right way to go...The Levels can be used as further confirmation or as a Probability Meter. And also for some mid/long term setups...

My approach to this Topic is slightly different...

Following my TripleTMA-MA setup...
  • Setup
  • Put 3 TMAs (in TrueMode) in 3 different TFs (eg. M15,H1,H4) on the Chart.
  • Put an LWMA, EMA or SMA Period 21 over each of the TMAs.

    Entry:
  • If at least two TFs TMA cross the MA in the same Direction enter a Trade

    Exit1:
  • If no SL or TP is in Place exit if at least in two TFs the TMA changes Direction or Cross the MA in the opposite Direction of the Trade. Eventually Enter new Trade (If 2 TMAs cross MAs)...

    SL/TP Calculation:
  • SL based on latest Swing High/Low or fixed Pips if swing is to close (<fixed Pips)...
  • TP based on RR
  • Use TMA Level of the TFs who Triggered the Trade for Probability and RR Calculations
    eg. Ranging (<0.3 & >-0.3) is Low Probability with RR of 1:1
    Up/Downtrend (>0.3 or <-0.3) Medium Probability with RR 1:2
    Strong Up/Downtrend (>0.6 or <-0.6) High Probability with RR 1:3
  • Adjust TP if TMA moves to next Level
Screenshot of the Setup...
eurusd m15 analysis with 3 tmatrue (h4,h1,m15) and ma21.gif
What do you think about this approach?


happy Trading,

NeoTrader

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Author:  garyfritz [ Fri Aug 03, 2012 10:31 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
I like the idea. I tend to want to use a higher TF as the directional signal, and a lower TF for the entry, but your "best 2 out of 3" voting scheme might work well.

If you exit a trade because 2 TFs go against you, doesn't that immediately qualify for an entry in the opposite direction?
Author:  christ1216 [ Sun Aug 05, 2012 5:17 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
NeoTrader wrote: [*]Put an LWMA, EMA or SMA Period 21 over each of the TMAs.
-

how can i do this?
Author:  NeoTrader [ Sun Aug 05, 2012 5:52 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Hi Gary,

I answered this question already...but somehow my post disappeared...so then again.. ;)
garyfritz wrote:I like the idea. I tend to want to use a higher TF as the directional signal, and a lower TF for the entry, but your "best 2 out of 3" voting scheme might work well.
Yes, it actually does work very well...I don't tried other combinations yet. Only M15 or M30 as the lowest TF that both worked great.
garyfritz wrote:If you exit a trade because 2 TFs go against you, doesn't that immediately qualify for an entry in the opposite direction?
Only if both TFs cross the MAs...If there is only a directional change with no MA crossing then No.

happy weekend,

NeoTrader
Author:  NeoTrader [ Sun Aug 05, 2012 5:57 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
hi christ1216
christ1216 wrote:how can i do this?
Just drag&drop the MA to the Indicator and select in the Parameter "Apply to" First Indicators Data.
This will do the Trick...

happy weekend,

NeoTrader

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Author:  cmeade2 [ Sun Aug 05, 2012 7:53 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
NeoTrader wrote:hi christ1216
christ1216 wrote:how can i do this?
Just drag&drop the MA to the Indicator and select in the Parameter "Apply to" First Indicators Data.
This will do the Trick...

happy weekend,

NeoTrader

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Neo

Where can we find the TMA slope indi plotted as a line?
Author:  cmeade2 [ Sun Aug 05, 2012 8:24 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
cmeade2 wrote:
NeoTrader wrote:hi christ1216
christ1216 wrote:how can i do this?
Just drag&drop the MA to the Indicator and select in the Parameter "Apply to" First Indicators Data.
This will do the Trick...

happy weekend,

NeoTrader

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Neo

Where can we find the TMA slope indi plotted as a line?
OK I found the indi and loaded it. But when I try to drag the MA to the TMA indi, it always plots the MA on the price window and not on the TMA.

Any insights?
Author:  NeoTrader [ Sun Aug 05, 2012 9:01 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
hi cmeade2,
cmeade2 wrote:Any insights?
Yes...learn to read...you actually quoted the solution that was written two posts before...

happy weekend...

NeoTrader

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