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razorboy
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Postby razorboy » Fri Dec 12, 2008 4:11 pm

is that 5 minutes included within the last 60 (55 to 60 minutes) or the 5 minutes following the 60 - 60 to 65 minutes.

If what you are saying is the first option then the last 5 minute candle of an hour should be the same color as the hour, if what you are saying is the second, then the first 5 minutes of the new hour should be the same color as the previous 60 minutes

for simplicity's sake I am just using the custom candle plug in (set to 60 minutes) on a 5 minute chart

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Postby Jan Viljoen » Fri Dec 12, 2008 4:28 pm

Hi All

I normally trade of 5min charts. Then today I was playing on the 15min charts and noted something interesting.

Look for a black and white candle to form, the sequence does not matter all that we want is black and a white (red & green) next to one another.

They do not have to have the same high low or open close. They should just be give or take the same size from high to low. Again give or take.

If price breaks the high of the two candles go long if price breaks the low of the two candles go short.

Profit target about 15pips

Do not trade against a very steep trend.

Let me know what you think perhaps I just had to much coffee today.

Cheers

Jan

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Postby rjmann » Fri Dec 12, 2008 4:32 pm

Good Morning TRO,

I wanted to give props to you for your indicators. I've only been using one....the BZ_everyhour for metatrader. I read your first post on FXCM and I've been reading here every since. I've been practice trading with a demo and keep a small mini account for about 18 months and haven't consistantly made good trades till I got this indicator. I MAKE PIPS ALMOST EVERY TRADE. Been trading mostly on the EUR/CHF because its been having some bigger candles. Can't wait till I get your Buyzone for dummies indicator. One quick question. I've read that we should not use a broker with no spread. My micro account has a spread and I've been able to pull some pips. What I like about the account is I can use very small amounts of money. Do you recomend something better to start with?

Much Thanks TRO
R.j.
Image

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MightyOne
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Postby MightyOne » Fri Dec 12, 2008 5:28 pm



Should spacial intelligence be used or should I just stick to the H1 magnitude when looking at the H1? (yes the 3rd black line should start from the open not the close..oops)



Just because I am using 3 candles in the picture that doesn't mean that you have to use 3.
It could be 2, 6, 13, 4 or of whatever other magnitude you see a series of single candle color!
Last edited by MightyOne on Sat Dec 13, 2008 3:03 am, edited 2 times in total.

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Postby MightyOne » Fri Dec 12, 2008 6:52 pm

razorboy wrote:Ed - I agree with you on the need to see the big picture. I think that a lot of people read TRO's stuff and think that it is the be all and end all of everything else (to his credit, TRO even says they are guidelines). You then have all these neophyte traders (myself included initially) going out and hitting on anything that movies like drunk frat boys and wondering why sometimes it works and sometimes it doesn't - like the horizontal line trade trick.

If you can't you can't articulate the reasons why you entered a trade beyond "I just saw it", I would be less than confident. Over the past two months or so I have become skeptical of any indicator other than price and the patterns it maps out and understanding what is going through peoples heads at that point - I am starting to care less and less about hourly range and pretty much any other statistic.

I've actually done what most "experts" recommend not doing - I have traded (or watched) endlessly for the last 2 months - making sure I get a chance to see every sort of market condition I can, rather than random glimpses at points during the day - a crash course if you will - the goal being to find one or two repetitive patterns that I can play over and over again. Based on my experience with other skill acquisitions, I think the only way you can really learn is through intensity.


For me the light bulb went off when I saw TRO's statistics.

It was love at first sight; the endless possibilities, even some not so obvious, that statistics can be used to place advantageous trades or heighten your perception of market action.

Statistics may appear as boring as a #2 pencil, but what can you do with a #2 pencil?:

Write a letter? Throw it at your teacher? Chop it up and create a mini log cabin? Stab your classmate in the ass cheek (sorry, a bad memory from my school years)?

All I am saying is that to ponder every application of your tools is worth far more than the experience gained from using them the same way every day.

Like wise in trading you will not grow by watching charts for days or weeks!

Each pair is like a different woman; you cannot know them all by observing one!
And if you have ever lived with a woman :cry: you will know that their emotions change day to day and week to week.
There are periods of time when you are the perfect man and then it suddenly all changes and the next minute you are the Anti-Christ.

Such is trading that its emotions change constantly with each pair having its own emotions.
There are periods of time when your trades are "flawless" and then there are periods of time when you question your ability as a trader.

If the different applications of your tools can shift your "personality" at the same time she changes her emotions then you just might stay flawless for a day longer :shock:

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Postby MightyOne » Fri Dec 12, 2008 6:59 pm



How much do you think I made on the above trade?



You can do the same thing if you look for it!

The strength (size) by which a currency can correct or congest is
about equal to the strength by which a currency can trend.
Last edited by MightyOne on Sat Dec 13, 2008 3:29 am, edited 4 times in total.

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ZigZag_TRO_MODIFIED_VERSION

Postby TheRumpledOne » Fri Dec 12, 2008 7:20 pm

ZigZag_TRO_MODIFIED_VERSION

Image

I modified the ZigZag indicator to display how many bars since PRICE zigged and zagged.

WAIT tells you how long to wait BEFORE entering in the same direction.

In the chart, you need to wait for 10 bars BEFORE going long again.

THIS IS A RULE OF THUMB!!

This is NOT a system so don't go writing EAs and telling me it doesn't backtest.


ZigZag_TRO_MODIFIED_VERSION MT4 indicator, including source code, attached.
Attachments
ZigZag.zip
(11.19 KiB) Downloaded 141 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.

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TheRumpledOne
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Postby TheRumpledOne » Fri Dec 12, 2008 7:38 pm

Image

Jan Viljoen wrote:Hi All

I normally trade of 5min charts. Then today I was playing on the 15min charts and noted something interesting.

Look for a black and white candle to form, the sequence does not matter all that we want is black and a white (red & green) next to one another.

They do not have to have the same high low or open close. They should just be give or take the same size from high to low. Again give or take.

If price breaks the high of the two candles go long if price breaks the low of the two candles go short.

Profit target about 15pips

Do not trade against a very steep trend.

Let me know what you think perhaps I just had to much coffee today.

Cheers

Jan



Jan:

Thanks for sharing.

You do NOT need to ask others about what you SEE.

What others think does NOT matter.

LEARN TO TRUST YOUR OWN EYES.

You can use my TRO_SupResHHLL indicator to show you the Highest high and Lowest Low of the last 2 bars. Just set the input = 2.
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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TheRumpledOne
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Postby TheRumpledOne » Fri Dec 12, 2008 7:41 pm

rjmann wrote:Good Morning TRO,

I wanted to give props to you for your indicators. I've only been using one....the BZ_everyhour for metatrader. I read your first post on FXCM and I've been reading here every since. I've been practice trading with a demo and keep a small mini account for about 18 months and haven't consistantly made good trades till I got this indicator. I MAKE PIPS ALMOST EVERY TRADE. Been trading mostly on the EUR/CHF because its been having some bigger candles. Can't wait till I get your Buyzone for dummies indicator. One quick question. I've read that we should not use a broker with no spread. My micro account has a spread and I've been able to pull some pips. What I like about the account is I can use very small amounts of money. Do you recomend something better to start with?

Much Thanks TRO
R.j.


You're welcome.

Glad you're making money.

You don't need the Buy Zone for Dummies if you are making money..LOL!!

What broker has NO SPREAD? That would be GREAT!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Fri Dec 12, 2008 7:46 pm

MightyOne wrote:Image

How much do you think I made on the above trade?

Image

You can do the same thing if you look for it!

I'll shut up now so I don't risk getting banned :wink:


By all means, PLEASE KEEP POSTING!

One SMALL favor, PLEASE POST BIG CHARTS rather than the mini charts.

At least one person, ME, likes BIG CHARTS.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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