2009.10.02 MT4 MOTHERLODE SEPTEMBER 2009

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

pj9100
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Wed Aug 13, 2008 12:00 pm
Reputation: 0
Gender: Male

Trading with tro-trends-stats and tro_nb_sr_hilo

Postby pj9100 » Mon Oct 05, 2009 3:53 pm

Hi Tro,

Like you I am a strong believer in time and price only. I only use statistical indicators to trade. I use TA indicators to find out momentum and strong resistance and support points.

No-one else except you have given importance in your forum to statistics.

The research done by Kreslik and displayed in your statistical section and statistical indicators developed by you for retail traders are an pioneering effort.

I downloaded your motherlode this month and found a new (good) Tro_trend_stats indicator. Another good one I am already using is tro_nb_sr_hilo.

A system can be revolved around these two indicators itself if you can modify both of them, equip them with a capability to identify reliably and effortlessly the breakout/breakdown/consolidation/turning points by painting the candles and a range box with Fibo values printed on the screen.

I can assure you the system with the two indicators can generate 80% of profitable trades if the trader aims only for 5-10 pips and exercises prudence (patience) and avoid impulsive trading.

tro-trend-stats indicator need to be turned into an up/down breakout bars painter based on open/close/high/low of certain number of previous bars.
It is already doing it but printing statistics about it.

tro_nb_sr_hilo should paint a light color box between strong lines of Support and Resistance and Open/Close/high/low of certain previous bars and draw a fibo as well on the box with extensions on both sides.

The box with fibos printed will act as a consolidation/range trading pad.

It will be in tune with your thinking of trading at breaks of high, low, close open, support and resistance after certain time (bars) later. 10-30 (default 21 is good) or any number of bars the traders can optimise depending on his ideas of breakout/breakdown or currency pair is good enough.

The SR lines should show the strong lines which have taken a certain number of hits at points where support has turned into resistance and vice versa.

The SR indicator should have an input for a price level with plus/minus pips allowance so that the trader can judge it if it's going to be a good entry/exit or turning point based on the hits the price level has taken in the past as a support or resistance point.

Example: I want to know if 1.45 with plus/minus 10 pips is a good entry/exit point then the indicator should draw small/big lines on the chart between 1.4510 and 1.4490 and print by way of comments in a corner the number of hits each price level has taken or else when the line is touched with the mouse it displayed the number of hits in the label or a small text box.

This system will generate at least 50 pips profit in a day if trader is able to resist himself from entering each time the breakout happens. Avoid trading during Opening/Closing/News Events when the momentum is high as the indicators could paint false moves.

Let the trader wait for a while after the two indicators start painting candle or box on the chart and assure himself that it is not a fake and then make the moves.

Intermediate/advanced traders can combine these two indicators with Mighty Zone/Zlines and the simple system will provide a system where the trader doesn't have to chase the trades at all.

Just wait for breakout/breakdown/consolidation box being painted and then see where it stands on the mighty zone timeline and decide whether it's a fake or not and do the trading.

As far as I am concerned, i will also use blubbbb_ticks to measure velocity of the whipsaws and tro-range to size up momentum during the hours of intense trading (Session opening/closing hours).

I will use the signals (alerts) generated by Mightyzone, zlines or Tro-Momo to go against them because the signals mostly are based on certain formulas which the robots employed by the market makers use to their advantage and generate fakeouts or false moves.

Since I trade by watching charts I am can use my intuition to know which signals are false and which are not.

My experience has taught me to trust only the breaks of open,close,high,low and support and resistance points.

I filter the trades by watching movements in relevent pairs of three major currencies and see which one is active and which one is dorman: US, GBP and Yen. If I want to trade in GBPJPY, I will watch totally six pairs to enter and exit: GbpJpy ,EurUSD, EurJPY, EurGBP, GbpUSD, UsdJpy.

PJ

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

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11430
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Mon Oct 05, 2009 8:04 pm

Thanks for posting, PJ. It looks like you may be complicating things a bit.

DO NOT LET THE RAT BEAT YOU.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

jz166
rank: 150+ posts
rank: 150+ posts
Posts: 172
Joined: Sat Jul 18, 2009 5:29 am
Reputation: 0
Location: USA
Gender: Male

Postby jz166 » Tue Oct 06, 2009 2:07 am

LOL, Tro_rat!

Thanks a lot, Avery. You rock!

phreddy
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Wed Mar 12, 2008 2:42 am
Reputation: 0
Location: Bulgaria
Gender: Male

Postby phreddy » Tue Oct 06, 2009 4:38 pm

Maybe the wrong place but I use your MyNotes, a wonderfully useful tool. Would it be possible to add a little more room between lines of text?

Thank you,

Frederick

User avatar
RockHardTen
rank: <50 posts
rank: <50 posts
Posts: 29
Joined: Thu Jun 18, 2009 8:31 pm
Reputation: 0
Gender: Male

TRO_D20P

Postby RockHardTen » Tue Oct 06, 2009 11:13 pm

What does TRO_D20P and TRO_MOMO do?

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

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11430
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Oct 07, 2009 12:11 am

phreddy wrote:Maybe the wrong place but I use your MyNotes, a wonderfully useful tool. Would it be possible to add a little more room between lines of text?

Thank you,

Frederick


Image

Good idea - thanks

I made an input mySpaceSize so YOU can control the spacing.

Updated TRO_MyNotes attached.
Attachments
TRO_MyNotes.mq4
(6.65 KiB) Downloaded 194 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11430
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Re: TRO_D20P

Postby TheRumpledOne » Wed Oct 07, 2009 12:12 am

RockHardTen wrote:What does TRO_D20P and TRO_MOMO do?


Got the idea here:

http://daily20pip.com/forum/viewtopic.php?t=886
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11430
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Oct 07, 2009 12:14 am

TRO_MOMO shows if momentum is increasing, decreasing or reversing.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

phreddy
rank: <50 posts
rank: <50 posts
Posts: 5
Joined: Wed Mar 12, 2008 2:42 am
Reputation: 0
Location: Bulgaria
Gender: Male

Postby phreddy » Wed Oct 07, 2009 4:42 pm

TheRumpledOne wrote:
phreddy wrote:Maybe the wrong place but I use your MyNotes, a wonderfully useful tool. Would it be possible to add a little more room between lines of text? Thank you, Frederick


Image

Good idea - thanks I made an input mySpaceSize so YOU can control the spacing. Updated TRO_MyNotes attached.


Excellent job and so quick. I can hardly wait to compile it and attach it to my charts.

Thank you so much

BTW one needs to join 20pips a Day to read the thread.

Frederick

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11430
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Oct 07, 2009 5:44 pm

You're welcome.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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


Return to “TheRumpledOne”