Just in case you missed the CAD move on Friday, here is my example trade from last few posts.
Notice how the Green line re-paints !!! the traitor that it is
So is this a trend change or the best place to sell again?
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| 10.7 https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3549 |
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| Author: | The_Snowman [ Thu Jul 10, 2014 1:30 am ] |
| Post subject: | 10.7 |
Here is a better example, all the time price is below the Daily 200 SMA Notice, when the Green line is crossed down, SuperTrend indicator also broken, the 4 Hour 60/240 EMA also crossed, the rest is on the chart :!: |
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| Author: | nanningbob [ Thu Jul 10, 2014 3:22 am ] |
| Post subject: | 10.7 |
This is a good discussion with good examples. |
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| Author: | The_Snowman [ Sun Jul 13, 2014 11:29 pm ] |
| Post subject: | 10.7 |
Just in case you missed the CAD move on Friday, here is my example trade from last few posts. Notice how the Green line re-paints !!! the traitor that it is So is this a trend change or the best place to sell again? : |
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| Author: | nanningbob [ Mon Jul 14, 2014 3:04 am ] |
| Post subject: | 10.7 |
The green line is the monthly line. Once price direction is set for the month it lets you know. It is used in the 10.9 daily/weekly trading systems. I dont use it for lower TF. It will move up or down at the beginning of the month until direction is set. The filters are the daily and and weekly lines. I only use those in lower TF settings. The daily (yellow/gold line) told you today would have been a good CT trade day and it was. Basically it was a surprise news day and the indicators reacted accordingly. Is this showing change of direction. Very possible, the CAD news was more negative than expected and is showing a slow down in the CAD economy. That will cause the CAD to go down. So it is not repainting it is telling you things changed which is true. If you had a sell going, time to get out. Why people say an indi is repainting when it changes direction and letting you know the market just changed is beyond me. ????  |
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| Author: | mobthehop [ Wed Jul 16, 2014 4:13 am ] |
| Post subject: | 10.7 |
Hi Bob, coincidentally also came across this behaviour while doing some research... Attached please find 2 screenshots taken within minutes on AJ D1 yesterday my time - only weekly & monthly stochs are shown in both... 1. You mentioned in the post preceding this one that “Once price direction is set for the month it lets you know” could you explain a bit more how the settlement of price direction can be perceived / measured? Incidentally Steve also posted something along these lines yesterday - http://www.stevehopwoodforex.com/phpBB3 ... =60#p93157 2. Also attached another screenshot of AJ D1 weekly / monthly stochs 2/1/1 that contrasts three different implementations of a MTF Stoch indicator, the one you are using (1st sub-window), another one I got from FF (MTF Stachastics 2.1) and last the coding from xaphod. As my level of maths does not allow me to understand the differences, would appreciate if somebody with a grasp of the underlying calculation could outline in layman terms why the resulting graphs, though mathematically they should be identical, end up being so different. 3. Last but not least, as I have not observed this behaviour in the past and also prompted by this post (http://www.stevehopwoodforex.com/phpBB3 ... =60#p96060) could this be caused by the Empty4 client update that happened 36 hours ago for me? Would very much appreciate any assistance to understand this situation better in order to harness it for me trading.... Thanks in advance for taking the time to read and reply to this / Mop |
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| Author: | The_Snowman [ Wed Jul 16, 2014 5:52 am ] |
| Post subject: | 10.7 |
I understand what you are saying, and it wouldn't be so bad if the Green line changed and stayed on the same day, but it jumps back 10 days ??? So when viewing the chart in hindsight, make it look like it has performed exactly on price turns...?? |
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| Author: | SpiderX [ Wed Jul 16, 2014 6:37 am ] |
| Post subject: | 10.7 |
To the best of my knowledge...but some here may disagree... for 10.7: up when price above previous monthly close dn when price below previous monthly close. Just need to watch the previously monthly close price. Would find time to write a post to "prove" this when there is time. Based on working backwards of the Sto indicator, the above statements should be accurate. Please look at your charts to verify this. cheers |
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| Author: | spotdespot [ Wed Jul 16, 2014 6:51 am ] |
| Post subject: | 10.7 |
It's what I've found too, although Bob mentioned it wasn't designed that way. If you put daily/weekly/monthly open lines on a chart you can see the behaviour as it crosses the lines. Tommaso made an indi that draws all three on the chart and you can also see it if you have the DWM open bar indi on the chart. The reality is when this happens either something has changed i.e. in EURCAD's case we should now be looking at longs OR we should be wary until direction is more clear (my personal vote in this case given price action in the last few days and noting that we might just be testing the yearly open that was recently crossed). Cheers, Dave. |
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| Author: | milanese [ Wed Jul 16, 2014 7:25 am ] |
| Post subject: | 10.7 |
it is logic that it jumps for 10days if you have the 10th because it is the open month line and will always change for the entire "open" month Cheers  Tommaso |
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| Author: | SpiderX [ Wed Jul 16, 2014 8:33 am ] |
| Post subject: | 10.7 |
Based on: http://www.investopedia.com/terms/s/sto ... llator.asp %K = 100[(C - L)/(H - L)] C = the most recent closing price L = the low of the N previous trading sessions H = the highest price traded during the same N-day period. %D = 1-period moving average of %K For the stoch we use, it is based on Close/Close instead of High/Low. Therefore: L = the lowest close of N periods H = highest close of N periods For Sto 2,1,1 L = lowest close of 2 period (current close vs previous close) H= highest close of 2 period (current close vs previous close) C = Current close When price less than previous close, L = C , Current close H = Previous close K=100( C-L)/ (H-L) = 100(C-C)/(H-L) = 0 When price greater than previous close, L = previous close H = C, Current Close K =100(C-L)/ (H-L) = 100(C-L)/(C-L) = 100 This is the understanding that we have...might be wrong. Cheers |
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