TygerKrane's Level-Sensor help??

links and discussion on trading-related learning resources

Moderator: moderators

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1733
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 297
Location: Long Island, NY
Gender: Male

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??"
Attachments
forex, level sensor.png
forex, level sensor.png (242.83 KiB) Viewed 7346 times
Last edited by TygerKrane on Sun Oct 17, 2010 11:16 am, edited 1 time in total.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
forexjake80
rank: 50+ posts
rank: 50+ posts
Posts: 137
Joined: Sun Nov 15, 2009 12:20 pm
Reputation: 0
Gender: Male

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.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1733
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 297
Location: Long Island, NY
Gender: Male

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
Attachments
forex, 30min level sensor 5.png
forex, 30min level sensor 5.png (189.59 KiB) Viewed 7303 times
forex, 30min level sensor 4.png
forex, 30min level sensor 4.png (186.87 KiB) Viewed 7303 times

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

User avatar
forexjake80
rank: 50+ posts
rank: 50+ posts
Posts: 137
Joined: Sun Nov 15, 2009 12:20 pm
Reputation: 0
Gender: Male

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
It's time to kick ass and chew bubble gum. And I'm all out of gum.

User avatar
noone22
rank: 150+ posts
rank: 150+ posts
Posts: 390
Joined: Tue Aug 05, 2008 4:50 am
Reputation: 5
Gender: None specified

Postby noone22 » Mon Mar 29, 2010 12:32 pm


Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
noone22
rank: 150+ posts
rank: 150+ posts
Posts: 390
Joined: Tue Aug 05, 2008 4:50 am
Reputation: 5
Gender: None specified

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.

User avatar
forexjake80
rank: 50+ posts
rank: 50+ posts
Posts: 137
Joined: Sun Nov 15, 2009 12:20 pm
Reputation: 0
Gender: Male

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.

User avatar
noone22
rank: 150+ posts
rank: 150+ posts
Posts: 390
Joined: Tue Aug 05, 2008 4:50 am
Reputation: 5
Gender: None specified

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.

User avatar
TygerKrane
rank: 1000+ posts
rank: 1000+ posts
Posts: 1733
Joined: Mon Jan 25, 2010 3:36 pm
Reputation: 297
Location: Long Island, NY
Gender: Male

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.)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 784
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 328
Gender: Male
Contact:

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.

Image
There's no business like [strike]show[/strike] covid19 business.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “learning resources”