TygerKrane's Level-Sensor help??

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TygerKrane
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TygerKrane's Level-Sensor help??

Postby TygerKrane » Mon Mar 15, 2010 12:25 pm

I think I like what this tool shows me. It looks simple enough, but I was hoping someone could point me to some instructions, or give me pointers on the finer points of using it.

Did some MightyOne / 'zline trading log' reading, and looking to see how it correlates to understanding/using zlines.

(I'm having trouble uploading the picture, so here it is as an attachment instead, sorry!)


:::EDIT:::
10/17/10 changed the thread's name from "Level Sensor help??"
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Last edited by TygerKrane on Sun Oct 17, 2010 11:16 am, edited 1 time in total.

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Postby forexjake80 » Fri Mar 26, 2010 4:27 pm

hi krane... i have been playing with the level sensor indi a lot, with some success. It ocured to me though, that when you see it working accurately, it is due to a breakout from a price level, where price was for a long period of time. That would also be a z-Line / mighty zone.

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Postby TygerKrane » Sun Mar 28, 2010 9:24 pm

I've changed up the setup I'm using as I try to get accustomed to it...even tho I'm still unsure, I think I like it alot.
2pairs, 4hr & 30mins. I tried having the bottom level sensor as 15min, but didn't feel it helped. This past week, the 30min showed me consolidation that I didn't see on my 5min. If I traded as a channel instead of as potential breakouts, that would've been a nice profit-taking instead of series of stop-outs.

These pics show 30min charts taken 11 hours apart for comparison purposes. (note: the top left EURJPY is accidentally set to D1 instead of H4.)

Also, Jake, whats the name of that story with the beetle and the orange?? :P
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forex, 30min level sensor 5.png
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forex, 30min level sensor 4.png
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Postby forexjake80 » Mon Mar 29, 2010 10:10 am

Tried to google that beetle story, didnt´find it? Feeling uneducated now :oops:

Did you watch the videos on prochargedmopars signature? About supply and demand? If not, do it NOW. I personally think the edge of the level-sensor indi is, to identify where the "big money" is sitting. When price breaks out from that level, and then returns - sling shot is set loose. Try the following settings: Offset 0 and, even more important, pink color factor to 0.99 (yes, thats 99% - paint only, where the big money is). You might also wanna adjust the grey painting to white, in order to not get an alien on your face, when the offset is 0 BigGrin_Smile
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Postby noone22 » Mon Mar 29, 2010 12:32 pm


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Postby noone22 » Mon Mar 29, 2010 12:37 pm

forexjake80 wrote:it is due to a breakout from a price level, where price was for a long period of time. That would also be a z-Line / mighty zone


Could you eleborate about connection to zlines?
I think - it's more about supply-demand.

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Postby forexjake80 » Mon Mar 29, 2010 3:22 pm

Zlines, mightyzones, supply/demand - its basically all the same. "Price in mightyzone" states that price returned from a breakout. While candle still open, expect price to move in direction of previous breakout again. When candle closes, that must have happened, otherwise you close the trade. So you wanna see Wicks only in the Zone of the Momentum Candle´s body. Risk/Reward ration is great that way. If you trade the above as a reverse, you need to trade it as the expected wick on the reverse-momo candle, after price moved sideways for some candles.

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Postby noone22 » Mon Mar 29, 2010 11:50 pm

Who said, that ZL is supply-demand?
MO hasn't.

And what all this has to do with Level Sensor indicator?
I don't follow.

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Postby TygerKrane » Mon Apr 05, 2010 10:42 am

forexjake & noone,
THANKS SO MUCH for the video recommend and the links, also, Thanks Promopar for having that link in your signature.

I always saw the link, but never checked it out.
I would've thanked you guys earlier (don't want to be ungrateful), but one video lead to another, and one article lead to another, so I spent every free moment after Monday of last week emerged in the learning.

I know we have a topic thread here about Sam Seiden, but I never checked it. Now that I saw SEVERAL of his videos, I'll might even go through that (but really his videos seem to explain MORE than enough.)

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Postby PTG » Mon Apr 05, 2010 10:53 am

TygerKrane wrote:forexjake & noone,
THANKS SO MUCH for the video recommend and the links, also, Thanks Promopar for having that link in your signature.

I always saw the link, but never checked it out.
I would've thanked you guys earlier (don't want to be ungrateful), but one video lead to another, and one article lead to another, so I spent every free moment after Monday of last week emerged in the learning.

I know we have a topic thread here about Sam Seiden, but I never checked it. Now that I saw SEVERAL of his videos, I'll might even go through that (but really his videos seem to explain MORE than enough.)


I would indeed check his video's if I were you.

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