2009.09.10 DRAIN THE BANKS - LIKE A RAT

[BambinoFlex]

Been using the TRO_ATR_Lines_HL and its been working great this week for the rat trades. Here is GBPCAD as an example.

Yeah, it's a good place for profit taking too (or at least that's the way I like looking at it).

May I ask what session are you trading and the pairs that you're watching BambinoFlex? I'm close to having a bit more time in my hands and I was looking into getting back to the rat

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

[JP1]

Been using the TRO_ATR_Lines_HL and its been working great this week for the rat trades. Here is GBPCAD as an example.

Yeah, it's a good place for profit taking too (or at least that's the way I like looking at it).

May I ask what session are you trading and the pairs that you're watching BambinoFlex? I'm close to having a bit more time in my hands and I was looking into getting back to the rat

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So can u tell me what the 4 and 13 mean next to the ATR shaded areas by any chance? Cant find a video on it
Fiddled with the settings but cant work it out

[BambinoFlex]

Yeah, it's a good place for profit taking too (or at least that's the way I like looking at it).

May I ask what session are you trading and the pairs that you're watching BambinoFlex? I'm close to having a bit more time in my hands and I was looking into getting back to the rat

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So can u tell me what the 4 and 13 mean next to the ATR shaded areas by any chance? Cant find a video on it
Fiddled with the settings but cant work it out

I'll be honest, I don't know. My guess is that it has to do with the the ATR period.

Just noticed though, there's three instances of the ATR. TRO_ATR_LINES, TRO_ATR_LINES_HL, and TRO_ATR_LINESHL5.

[Jhx]

Been using the TRO_ATR_Lines_HL and its been working great this week for the rat trades. Here is GBPCAD as an example.

Yeah, it's a good place for profit taking too (or at least that's the way I like looking at it).

May I ask what session are you trading and the pairs that you're watching BambinoFlex? I'm close to having a bit more time in my hands and I was looking into getting back to the rat

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So instead of taking trades within the rat zone you enter within the wick zones using the rat reversal as an entry? (Sorry, just trying to understand )

[BambinoFlex]

Yeah, it's a good place for profit taking too (or at least that's the way I like looking at it).

May I ask what session are you trading and the pairs that you're watching BambinoFlex? I'm close to having a bit more time in my hands and I was looking into getting back to the rat

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So instead of taking trades within the rat zone you enter within the wick zones using the rat reversal as an entry? (Sorry, just trying to understand )

I’ll try not to confuse you with my thought process. So I’ve observed that most reversals happen during the London and New York sessions. I wait for extremes to form. When I look at the daily candle, if there isn’t a wick yet or it’s small, I’ll take a trade. Sometimes it will break a new high (or low for green rats) but usually it will start reversing. When I first started I was using the rat trade during the Tokyo open, it was going well but then I realized it was better to wait until the New York session to really see the daily candles range.

[Jhx]

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So instead of taking trades within the rat zone you enter within the wick zones using the rat reversal as an entry? (Sorry, just trying to understand )

I’ll try not to confuse you with my thought process. So I’ve observed that most reversals happen during the London and New York sessions. I wait for extremes to form. When I look at the daily candle, if there isn’t a wick yet or it’s small, I’ll take a trade. Sometimes it will break a new high (or low for green rats) but usually it will start reversing. When I first started I was using the rat trade during the Tokyo open, it was going well but then I realized it was better to wait until the New York session to really see the daily candles range.

Ah, now I understand . Thank you for the explanation!

[TheRumpledOne]

I get along with the GBP pairs. Usually GBPNZD and I only trade the rat trades during the New York and London Mashup. I think most of the moves are made during the London times and then the reversals on the NY sesh. It’s a different approach, instead of scalping the rat zone I place my moves on the wick formation. I’ve noticed that the retracements happen at this times. I’m in Houston, so from 6am - 11am Central Time.

So can u tell me what the 4 and 13 mean next to the ATR shaded areas by any chance? Cant find a video on it
Fiddled with the settings but cant work it out

I'll be honest, I don't know. My guess is that it has to do with the the ATR period.

Just noticed though, there's three instances of the ATR. TRO_ATR_LINES, TRO_ATR_LINES_HL, and TRO_ATR_LINESHL5.

ATR_LINES calculates the distance from the open. The lines are static. The indicator runs a loop and determines the minimum and maximum ATRs. The numbers like 4 and 13 indicate which ATR was the minimum and the maximum.

ATR_LINES_HL calculates the distance from the high and low. The lines are dynamic and move each time a new high or low is established.

Not sure about ATRLINES_HL5. I don't recall coding that.

[JP1]

So can u tell me what the 4 and 13 mean next to the ATR shaded areas by any chance? Cant find a video on it
Fiddled with the settings but cant work it out

I'll be honest, I don't know. My guess is that it has to do with the the ATR period.

Just noticed though, there's three instances of the ATR. TRO_ATR_LINES, TRO_ATR_LINES_HL, and TRO_ATR_LINESHL5.

ATR_LINES calculates the distance from the open. The lines are static. The indicator runs a loop and determines the minimum and maximum ATRs. The numbers like 4 and 13 indicate which ATR was the minimum and the maximum.

ATR_LINES_HL calculates the distance from the high and low. The lines are dynamic and move each time a new high or low is established.

Not sure about ATRLINES_HL5. I don't recall coding that.

Thanks TRO - still hasnt really helped me work out which ATR settings to use.....i have ATR_LINES_HL on the chart (see below)
Is the default setting multiplying ATR by 0.5 - is that how it works? I have fiddled with these settings, but it makes some strange changes on the chart that i cant work out

Edit: ok just seen ur daily video where u mention this (thanks!)...........so makes more sense now. But just to clarify, ATR14 and ATR 2.......means that the daily ATR 14 days ago was the highest, and 2 days ago was the lowest.........is that right?

[TheRumpledOne]

TRO001.png (25.8 KiB) Viewed 3662 times

ATR(2) is the maximum in the above chart (furthest from the open) and ATR(6) is the minimum (nearest to the open).

A larger ATR period does not mean the ATR value will be larger.

Does that help?

[TheRumpledOne]

TRO003.png (29.83 KiB) Viewed 5127 times

I noticed you asked about the HL version.

The lines are plotted from the current daily high/low unless you specify a different chart period.

You may have an old HL test version that I was working on for someone else.