Aliassmith Beats a "Dead Horse"

[aliassmith]

I added TRO MID DOT and the candle bias indies together to see if TRO's suggestion of using the mid points as a bias is usable.
Well I set the Dots on a H1 timeframe and the chart is on a M5 timeframe.
Looks like there are opportunities using this setup.

Which version of TRO MID DOT are you using? The only I have doesn't allow to change Timeframes. Thanks.

I don't see a version number its from 2016. under inputs there is one called myPeriod that I changed to 1 hour.

[forexjpn]

Also, regarding entry, if you want higher percentage wins, I’d look at:

1. MA angle (steeper is better)
2. earlier is better (of course)
3. shorter candles on the reversal are better

I’ll post a chart later, but I think the explanation above is easy to see when you look at a chart.

FYI: not sure this follows Aliassmith’s entry rules exactly

[aliassmith]

I added TRO MID DOT and the candle bias indies together to see if TRO's suggestion of using the mid points as a bias is usable.
Well I set the Dots on a H1 timeframe and the chart is on a M5 timeframe.
Looks like there are opportunities using this setup.

Is there really much of an advantage over the original, other than a cleaner chart with no, god-forbid, squiggleys on it?

I can't say there is an advantage doing it this way. Advantage is all subjective anyways. It is just another side of the coin when it comes to a variety of ways to take $$$ out of the market. Someone might see this and run with it and make a million dollars, other will say it doesn't work and move on just like any other method/concept.

In the end I am always researching ideas so we will see what else I come across as biases and triggers.

[imparare]

Just thinking about the previous midpoint suggestion. A candle needs to close lower(or higher) to show a previous midpoint. For the 1hr example, So technically if price closes lower, we are automatically trading with this bias. I can't see the benefit yet, if you are trying to follow the trend.

The makes more sense if perhaps a trader if trying to get on the early reversal, but even then how often does price go all the way past the previous midpoint and drop all the way down forming a wick, intraday.

Sorry if I’m misunderstanding you, but the H1 midpoint is above the close (in a downtrend), so that allows for some retrace upward without changing the bias..... and we would enter on the reversal back in the direction of the bias, if it fits the criteria of Aliassmith’s entry.

My point is our bias is already set with close lower (in a downtrend). So even if you know nothing of midpoints you are already trading in the same direction. Right, Price may retrace back or it might not. In trendmode (for the lack of better term) meaning consecutive candles closes higher/lower, I am not seeing a benefit.

[aliassmith]

First example of what I am seeing.
The TRO_Mid_Dot is set with my period to 1 hour.
That is a higher timeframe bias.
Short is below the bias dots in this example
The entry is when the red 5M candle closes.
The stop is above the high of that same candle.
The measuring tool shows these points with the possible profit taking areas.

[imparare]

First example of what I am seeing.
The TRO_Mid_Dot is set with my period to 1 hour.
That is a higher timeframe bias.
Short is below the bias dots in this example
The entry is when the red 5M candle closes.
The stop is above the high of that same candle.
The measuring tool shows these points with the possible profit taking areas.

I see, this was a previous midpoint cross? Interesting.

[aliassmith]

Next hour same chart.

[aliassmith]

Next Next hour

[aliassmith]

First trade of UK session I believe.
I think on this chart it is 10:00 to 19:00

[aliassmith]

Second hour or UK session