BUY ZONE FOR DUMMIES INDICATOR

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gioviforex
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Postby gioviforex » Fri Jan 18, 2008 7:08 am

Hi Tro ,why you didn't send me the updated version of buy zone ?
Thanks

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otcfx
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Buy zone for the FTSE DAX

Postby otcfx » Fri Jan 18, 2008 8:49 am

To use the buy zone on the stock indexes i think that the calculation from the ER2 forum is +-16.5 for the FTSE and 20 for the dax. I am interested in any comments about the setting for the indexes, this looks right in comparison to the +-2 that they used on the RUT2000.

alesio
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Postby alesio » Fri Jan 18, 2008 10:44 am

hello TRO,

just wondering if u can shed some light on this.

the first chart shows what i think are profit targets which are the green dotted lines. look where they are.

on the 2nd chart TRo, i saved this chart some minutes after saving the other and look where the green lines are. can u explain this please.
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gefriday 19.11 5minute gbyjpy5.gif
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alesio
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Postby alesio » Fri Jan 18, 2008 10:46 am

TRO, the first chart i was refering to is actually the second one here.
thanx

pdean123
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The Buy Zone

Postby pdean123 » Fri Jan 18, 2008 11:40 am

The Buy Zone is like going to the track and picking all winners only better. At the track you have to pick the winner before the race and if you are wrong you're wrong. The Buy Zone alerts you to a horse in the race that looks like it might take the lead for a little while. It doesn't however have to win the race it just has to get about a length ahead. 41 trades yesterday (011708) on a $10,000 demo account using EFX (a key to success) and $1,000 profit after commissions.

Just go to the races and wait for the Buy Zone to tell which horse has the greatest probability of getting ahead for just a few furlongs.

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Postby chip » Fri Jan 18, 2008 1:27 pm

Alesio, you might just be using an old version of the indicator. I think one of the early versions would sometimes not move the indicator lines.

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Postby alesio » Fri Jan 18, 2008 1:29 pm

it shouldnt be but ill try it with the latest bz i got from TRO. thanx chip

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Postby rolska » Fri Jan 18, 2008 1:39 pm

Alesio, try to disable all indicators except the original buyzone. For me it seems other indicators mess up the buyzone.
Rolf

chip
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Postby chip » Fri Jan 18, 2008 2:36 pm

TRO, if price moves through the buy zone, then back down through it, then back up through it again -- buy again?

In other words, when you calculate the buy zone is it saying:
1) if price _moves_ X amount, buy
or
2) if price _reaches_ X amount, buy

Using this example with USDJPY... say it opens at 107.15. The buy zone is 107.18. Say it goes through that, then it drops to 107.02 then starts back up, all the way to 107.18. Buy again?

It's hard to get this question posed in a coherent manner ...

Is the hour boundary the key, meaning -- if price during the next hour reaches the hour boundary price plus $0.03, statistically it will reach price plus $0.10.

Or is the hour boundary arbitrary, meaning -- if price moves by $0.03 from where it is _now_, statistically it goes on another $0.07.

Sounds esoteric and academic, I know, but I'm a curious guy....

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TheRumpledOne
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Re: Questions...

Postby TheRumpledOne » Fri Jan 18, 2008 4:30 pm

jimbil wrote:
TheRumpledOne wrote:I find it funny that people want to CHANGE the BUY ZONE instead of learning how to use it and make money.

I created the Buy Zone for stocks about 5 years ago. Hundreds of hours of statistical analysis.

Michal Kreslik and I spent hundreds of hours last year crunching numbers to get the best Buy Zone parameters for FOREX.

There is nothing wrong with wanting to make improvements BUT I would urge you to just use the BUY ZONE AS IS and make a pile of cash. THEN maybe you might not want to change a thing!

The Buy Zone works because of the statistics. If you start changing the parameters, DO NOT BLAME ME FOR LOSSES. DON'T SAY THE BUY ZONE DOESN'T WORK.

Traders in the TWO PERCENT CLUB use the Buy Zone AS IS and take pips home every day.


HI TRO

Please can you elaborate a bit here on exactly what you mean by parameters.

Do you mean the 5-7 pip PT, the 5-7 pip SL, the M5 timeframe, the Buy/sell lines being 3 & 4 pips away from the M60 open line????

In your buyzone manual you say that the buyzone works equally well on scalping timeframes and for swing trading?

Therefore presumably you are saying it works well as well on H1 charts as it does on M5 charts?

But if for example you are using the buyzone on H1 charts - Specifically -
1) i would expect to be updating the zone every 12 hours (the same "scale" every M60 on M5 charts).???

2) i would expect to be targetting more pips per trade due to the longer timeframe candles traded from and the extra price dat they contain.???

3) i would expect to be using a bigger SL due to the longer timeframe candles traded from and the extra price dat they contain.???

4) I would expect that it may be a good idea to increase the distance of the 2 long lines and 2 short lines from the open of range price. Currently on M5 you advocate a 3 & 4 pip distance from the open price. On H1 candles/charts - would you increase the distance of these lines from the open price????


Where do you stand on all this?

Thanks a lot.


This is where I stand:

The Buy Zone works because of the statistics. If you start changing the parameters, DO NOT BLAME ME FOR LOSSES. DON'T SAY THE BUY ZONE DOESN'T WORK.

IT IS THAT SIMPLE!
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.

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