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How do you filter the sideway market ?
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Author:  zen4x [ Sat Jul 07, 2012 2:36 pm ]
Post subject:  How do you filter the sideway market ?
Hello guys. Since I am trying to build an EA based on a momentum strategy I was thinking what I could do to filter a range market condition.
I want to share few ideas and get some points from you if you like to join the thread.

1 - The first tool is the ADR (Average daily range) of the financial instrument that we trade.
The ADR is the measure of the range from the high to the low of the day of a particular pair.
The way I use the ADR is to calculate how much fuel (I use this metaphor) I got left to take a trade
or not.
I usually consider the average of the last 5 days in order to calculate the ADR. ADR is available in Empty4 as ATR, (Pay attention about the Sunday candle that is not included in the calculation of the ATR)

2 - The second filter is to stop trading at the end of the London close (the time window to consider is between 16:15 up 17-18:30), since 90% of the of the times the ADR 5 gets filled by that time of the day.

The only concern I still have is about the Asian session that is usually quite choppy and may lead the EA to open some trades during that consolidation.

I would like to receive some ideas from you and.
Thanks, Francesco.
Author:  Jemook [ Sat Jul 07, 2012 3:48 pm ]
Post subject:  Re: How do you filter the sideway market ?
You should read the 10.2 TMA documentation. Find it under the nanningbob 10.2 section of this forum.
Author:  zen4x [ Sun Jul 08, 2012 10:42 am ]
Post subject:  Re: How do you filter the sideway market ?
Hei Jemook, thank you for the reply. Do you think I can use the TMA indicator reading its value from H1 and taking trades on M5 or M15 ?
Author:  Jemook [ Sun Jul 08, 2012 10:58 am ]
Post subject:  Re: How do you filter the sideway market ?
You need to test it. But I reckon for sure. No one has really done too much testing on the lower tf. There's plenty to be explored - if we are using the D1 to enter on the H4 using its direction then I don't see who we can't do the same as you specified.
Author:  NeoTrader [ Sun Jul 08, 2012 4:24 pm ]
Post subject:  Re: How do you filter the sideway market ?
hi zen4x,
zen4x wrote:Hei Jemook, thank you for the reply. Do you think I can use the TMA indicator reading its value from H1 and taking trades on M5 or M15 ?
You can use my new TMA-MTF Indicator to help with your analysis and check it four yourself...

But as Jemook said it should be possible... but needs some testing...

You can also look at slowkeys Thread where he uses the TMA-CSS Indicator in lower Timeframes.

Happy Sunday,

NeoTrader

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Author:  zen4x [ Tue Jul 10, 2012 7:05 pm ]
Post subject:  Re: How do you filter the sideway market ?
Thanks both of you for the reply. I did read the booklet that Nannibob wrote about TMA indicator.
I wanted to use TMA to explain to an expert advisor if a market is ranging or not.
The point is that I plotted the indicator on the 4H timeframe but seems that signal to align for what I have to do is very slow and the trend is already gone. In fact 10.2 system works on retracements and counter trends so I do think is a problem in that case.
Do I have to post the strategy in another post to ask somebody an advice or suggestion to automate it ?
Thank you, Francesco.

P.S: Neo you can definitely be the architect of Matrix :lol:
Author:  NeoTrader [ Tue Jul 10, 2012 7:12 pm ]
Post subject:  Re: How do you filter the sideway market ?
hi francesco,

check also the lower TFs with the TMA especially H1 it is faster... also use the TMA MTF Indicator of mine to do a faster analysis of the lower timeframes...

happy trading,

NeoTrader

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Author:  zen4x [ Wed Jul 11, 2012 9:04 pm ]
Post subject:  Re: How do you filter the sideway market ?
Hi Neo. I was wondering if there is any chance to get the mql4. I would like to pass to the program the reading of the TMA from your MTF TMA indicator.
Thank you, Francesco.
Author:  NeoTrader [ Wed Jul 11, 2012 10:01 pm ]
Post subject:  Re: How do you filter the sideway market ?
hi francesco,
zen4x wrote:Hi Neo. I was wondering if there is any change to get the mql4. I would like to pass to the program the reading of the TMA from your MTF TMA indicator.
Thank you, Francesco.
not as of yet...maybe later. I still have not decided.. ;)

But meanwhile here are the Index Buffers


If only one timeframe and histoMode=true

Code: Select all

if ( NoOfTF == 1 ) {
	
		SetIndexBuffer ( 0, slopeTF1 );
		
		if ( showHisto ) {
			SetIndexBuffer ( 1, histoOverLevel );
			SetIndexLabel ( 1, StringConcatenate ( slopeName, " - ", PeriodTF[i], " - over ", histoLevel, " - " ) );

			SetIndexBuffer ( 2, histoUnderLevel );
			SetIndexLabel ( 2, StringConcatenate ( slopeName, " - ", PeriodTF[i], " - under ", -histoLevel, " - " ) );

			SetIndexBuffer ( 3, histoRanging );
			SetIndexLabel ( 3, StringConcatenate ( slopeName, " - ", PeriodTF[i], " - Range - " ) );
		}
If more than one TF slope and HistoMode

Code: Select all

	} else if ( NoOfTF > 1 ) {
		SetIndexBuffer ( 0, slopeTF1 );
		SetIndexBuffer ( 1, slopeTF2 );
		SetIndexBuffer ( 2, slopeTF3 );
		SetIndexBuffer ( 3, slopeTF4 );
		SetIndexBuffer ( 4, slopeTF5 );
		SetIndexBuffer ( 5, slopeTF6 );
		SetIndexBuffer ( 6, slopeTF7 );
		SetIndexBuffer ( 7, slopeTF8 );
	}
hope this is ok for now...

happy trading,

NeoTrader

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