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zhaozilong
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Postby zhaozilong » Fri Oct 14, 2011 10:20 am

Hello Relativity,

can you explain how to interpret this?

e.g CC-M15X20 = M300 H5 ON MN1 *> Up Wave, +58

what does H5 and what is it significance?

what does +58 means?

Up Wave means the last zigzag line is sloping Up?

if the last zigzag line of the current candle is down, we set the TAD_LongORshort to True and vice versa?

best regards.

-zhao

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Relativity
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Postby Relativity » Fri Oct 14, 2011 2:02 pm

zhaozilong wrote:Hello Relativity,

can you explain how to interpret this?

e.g CC-M15X20 = M300 H5 ON MN1 *> Up Wave, +58

what does H5 and what is it significance?

what does +58 means?

Up Wave means the last zigzag line is sloping Up?

if the last zigzag line of the current candle is down, we set the TAD_LongORshort to True and vice versa?

best regards.

-zhao


I chose H5 as I do not trust H4 candles due to time zone differences. H5 IMO is the best compromise. Also, it also factors into how 'time pockets' is constructed. Work this backwards :

1 month = 4 to 5 weeks
1 week = around 5 days
so therefore, if the common factor is to divide by 5, then :
1 day = around 5 sets of 5 hours

This idea is not new. It came mainly from Alexander Elder.
http://www.investopedia.com/articles/tr ... z1alSIEjT1
http://forum.masterforex-v.su/index.php?showtopic=14643

+58 means the current wave has a factor of +58 pips up, using a surprising simple formula onto the candles (prev high - current low VS prev low - current high)

The waves are constructed in this manner
1-construct H5 candles using M15X20
2-apply the formula onto the candles
3-mark off all the highs and lows the formula gives
4-join all the points and wala, we see waves

It will update every 15 mins, rather than having to wait for 5 hours for the current candle to update. I want to know what is happening NOw, rather than to wait.

I found that this makes the wave factor into time decay for price well. Over time, you will see the +58 figure go up or down. If it is going down to the 0 point, you know price is going to 'turn' and create a down wave.

Up Wave means the last zigzag line is sloping Up? = The latest ZZ line is sloping up.

Set the TAD_LongORshort according to your analysis, not accordingly to the direction of the last/current zigzag. If the current zigzag switches to the side you want and the trigger line shows up, then you are good to go.

Relativity wrote:The trigger line will appear on 2 conditions :
1-your decision of direction (short or long)
2-the current wave direction. If the current wave of a certain timeframe is down, a long trigger line will appear and vice versa
1+2 matches = lines appear accordingly
That is assuming you already done your analysis.

zhaozilong
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Postby zhaozilong » Fri Oct 14, 2011 2:23 pm

Relativity wrote:
zhaozilong wrote:Hello Relativity,

can you explain how to interpret this?

e.g CC-M15X20 = M300 H5 ON MN1 *> Up Wave, +58

what does H5 and what is it significance?

what does +58 means?

Up Wave means the last zigzag line is sloping Up?

if the last zigzag line of the current candle is down, we set the TAD_LongORshort to True and vice versa?

best regards.

-zhao


I chose H5 as I do not trust H4 candles due to time zone differences. H5 IMO is the best compromise. Also, it also factors into how 'time pockets' is constructed. Work this backwards :

1 month = 4 to 5 weeks
1 week = around 5 days
so therefore, if the common factor is to divide by 5, then :
1 day = around 5 sets of 5 hours

This idea is not new. It came mainly from Alexander Elder.
http://www.investopedia.com/articles/tr ... z1alSIEjT1
http://forum.masterforex-v.su/index.php?showtopic=14643

+58 means the current wave has a factor of +58 pips up, using a surprising simple formula onto the candles (prev high - current low VS prev low - current high)

The waves are constructed in this manner
1-construct H5 candles using M15X20
2-apply the formula onto the candles
3-mark off all the highs and lows the formula gives
4-join all the points and wala, we see waves

It will update every 15 mins, rather than having to wait for 5 hours for the current candle to update. I want to know what is happening NOw, rather than to wait.

I found that this makes the wave factor into time decay for price well. Over time, you will see the +58 figure go up or down. If it is going down to the 0 point, you know price is going to 'turn' and create a down wave.

Up Wave means the last zigzag line is sloping Up? = The latest ZZ line is sloping up.

Set the TAD_LongORshort according to your analysis, not accordingly to the direction of the last/current zigzag. If the current zigzag switches to the side you want and the trigger line shows up, then you are good to go.

Relativity wrote:The trigger line will appear on 2 conditions :
1-your decision of direction (short or long)
2-the current wave direction. If the current wave of a certain timeframe is down, a long trigger line will appear and vice versa
1+2 matches = lines appear accordingly
That is assuming you already done your analysis.


Hello Relativity,

please tell me if i am correct,

e.g based on my analysis in H1 (e.g using supply/demand zone) the direction is down (price approaching a supply zone), current time frame wave is UP, so i set the TAD_LongORshort to False and wait for the zigzag line to turn and the trigger line to show up.

best regards.

-zhao

zhaozilong
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Postby zhaozilong » Fri Oct 14, 2011 2:29 pm

Relativity wrote:
zhaozilong wrote:Hello Relativity,

can you explain how to interpret this?

e.g CC-M15X20 = M300 H5 ON MN1 *> Up Wave, +58

what does H5 and what is it significance?

what does +58 means?

Up Wave means the last zigzag line is sloping Up?

if the last zigzag line of the current candle is down, we set the TAD_LongORshort to True and vice versa?

best regards.

-zhao


I chose H5 as I do not trust H4 candles due to time zone differences. H5 IMO is the best compromise. Also, it also factors into how 'time pockets' is constructed. Work this backwards :

1 month = 4 to 5 weeks
1 week = around 5 days
so therefore, if the common factor is to divide by 5, then :
1 day = around 5 sets of 5 hours

This idea is not new. It came mainly from Alexander Elder.
http://www.investopedia.com/articles/tr ... z1alSIEjT1
http://forum.masterforex-v.su/index.php?showtopic=14643

+58 means the current wave has a factor of +58 pips up, using a surprising simple formula onto the candles (prev high - current low VS prev low - current high)

The waves are constructed in this manner
1-construct H5 candles using M15X20
2-apply the formula onto the candles
3-mark off all the highs and lows the formula gives
4-join all the points and wala, we see waves

It will update every 15 mins, rather than having to wait for 5 hours for the current candle to update. I want to know what is happening NOw, rather than to wait.

I found that this makes the wave factor into time decay for price well. Over time, you will see the +58 figure go up or down. If it is going down to the 0 point, you know price is going to 'turn' and create a down wave.

Up Wave means the last zigzag line is sloping Up? = The latest ZZ line is sloping up.

Set the TAD_LongORshort according to your analysis, not accordingly to the direction of the last/current zigzag. If the current zigzag switches to the side you want and the trigger line shows up, then you are good to go.

Relativity wrote:The trigger line will appear on 2 conditions :
1-your decision of direction (short or long)
2-the current wave direction. If the current wave of a certain timeframe is down, a long trigger line will appear and vice versa
1+2 matches = lines appear accordingly
That is assuming you already done your analysis.


Hello Relativity,

please tell me if i am correct,

e.g based on my analysis in H1 (e.g using supply/demand zone) the direction is down (price approaching a supply zone), current time frame wave is UP, so i set the TAD_LongORshort to False and wait for the zigzag line to turn and the trigger line to show up.

best regards.

-zhao

Relativity
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Postby Relativity » Fri Oct 14, 2011 2:33 pm

zhaozilong wrote:Hello Relativity,

please tell me if i am correct,

e.g based on my analysis in H1 (e.g using supply/demand zone) the direction is down (price approaching a supply zone), current time frame wave is UP, so i set the TAD_LongORshort to False and wait for the zigzag line to turn and the trigger line to show up.

best regards.

-zhao


Not a full analysis IMO. Which timeframe of the wave are you refering to?

Its better to post a live chart and analyze that. Thats the best way to learn.

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zhaozilong
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Postby zhaozilong » Fri Oct 14, 2011 2:38 pm

Relativity wrote:
zhaozilong wrote:Hello Relativity,

please tell me if i am correct,

e.g based on my analysis in H1 (e.g using supply/demand zone) the direction is down (price approaching a supply zone), current time frame wave is UP, so i set the TAD_LongORshort to False and wait for the zigzag line to turn and the trigger line to show up.

best regards.

-zhao


Not a full analysis IMO. Which timeframe of the wave are you refering to?

Its better to post a live chart and analyze that. Thats the best way to learn.


Hello Relativity,

i have attached the chart, it is EURUSD H1. As you can see, price is approaching a supply zone, and we should short it.

thank you.

-zhao
Attachments
eu h1 14 oct 2011 2236.gif
eu h1 14 oct 2011 2236.gif (53.05 KiB) Viewed 1309 times

Relativity
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Postby Relativity » Fri Oct 14, 2011 3:01 pm

I would ignore EURUSD at this point. Zoom out and you will see that the supply zone to push price back down is weak. Pretty edgy.
Attachments
mod eu_h1_14_oct_2011_2236_134.gif
mod eu_h1_14_oct_2011_2236_134.gif (55.18 KiB) Viewed 1298 times

zhaozilong
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Postby zhaozilong » Fri Oct 14, 2011 3:22 pm

Relativity wrote:I would ignore EURUSD at this point. Zoom out and you will see that the supply zone to push price back down is weak. Pretty edgy.


Hello Relativity,

many thanks, i have attached a AU 1Hr chart as you have suggested. I blieved that will be a good supply area to short as there is a supply zone and there is a SR lines.

So plan of action: SHORT

1) I set TADLongorShort to False
2) I wait for price to approach the supply zone and the SR lines
3) I wait for the zigzag line to turn down
4) I should be alerted by the trigger line and pull the trigger

am i right?

best regards

-zhao
Attachments
au h1 14 oct 2011 2325.gif
au h1 14 oct 2011 2325.gif (55.97 KiB) Viewed 1279 times

Relativity
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Postby Relativity » Fri Oct 14, 2011 3:38 pm

zhaozilong wrote:
Relativity wrote:I would ignore EURUSD at this point. Zoom out and you will see that the supply zone to push price back down is weak. Pretty edgy.


Hello Relativity,

many thanks, i have attached a AU 1Hr chart as you have suggested. I blieved that will be a good supply area to short as there is a supply zone and there is a SR lines.

So plan of action: SHORT

1) I set TADLongorShort to False
2) I wait for price to approach the supply zone and the SR lines
3) I wait for the zigzag line to turn down
4) I should be alerted by the trigger line and pull the trigger

am i right?

best regards

-zhao



1) I set TADLongorShort to False
2) I wait for price to approach the supply zone and the SR lines
3) Price moves 20 pips off the zigzag high
4) I should be alerted by the trigger line and pull the trigger

Relativity
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Postby Relativity » Fri Oct 14, 2011 4:14 pm

zhaozilong wrote:Hello Relativity,

i am not sure what do you mean by "3) Price moves 20 pips off the zigzag high". I have attached the AU pic, having some network issues just now, but it is posted at the forum too.

another question, how do we interpret the Key Variables?

e.g H5 on MN1 SBZ > 10 pips broken downside, SHORT

SBZ you are referring to the trigger lines or the SR Lines?

For the SR lines, if i am in the 1HR chart, do you accord less significance to the lower timeframe SR lines?

Should i go hunt down posts by 7thSignalTrader to get a better idea of your system?

best regards

-zhao


See an Up ZZ
Wait for the ZZ to reach its high
Wait for it to retrace back down 20 pips from the high
Enter

Do not interpret the words of the key variables. Look at the lines 1st. The key variables are just numbers and words in an attempt to confirm the visual view. The words interpret the lines, not the other way around. Horse before cart, not cart before horse.

SBZ = trigger lines

All SRs regardless of the level of timeframe they exist on are important for good overall analysis. Don't discount them.

And price is the same on ALL timeframes. To me, "if i am in the 1HR chart, do you accord less significance to the lower timeframe SR lines" is meaningless. Do not apply meaning into MT4 timeframes. In case you must be wondering why I am so upbeat about this, this is because MT4 is created with the broker in mind, not the trader. MT4 timeframes are NOT the same as the wave timeframes I am talking about.

The indicator loads itself onto ALL MT4 timeframes. Meaning, you can see it even in M15, M30, H4...etc. Same info and waves, just different level of 'zoom'. For a better 'view' of what the indicator is telling me, i use H1, D1 and W1. Its just visuals, thats all.

Hunt down 7thSignalTrader's posts if you must, which I did. But mind this : you need to be prepared for a long and dedicated study and research. If you are serious, go for it. My system is a partial and visual work-off of his system.

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