TheRumpledOne Donational Indicators

[nvm313]

I got my IB indicators....thanks TRO!

I want to use only the InsideBarTradeforDummies indicator for now. I'm a new user of this indicator, so can anyone pls tell me how to use it?
Ex. when it says Get Ready, do I enter the LT & ST prices as pending/oco orders or just enter at mkt (instant execution) when the price is hit?

Thanks to anyone who would reply

[nvm313]

Btw, when do we exit the trade? I mean how many pips do we generally aim for when using the M5 or M15 timeframes with the InsideBar indicator?

Thanks again!

[pierre23]

When you see the Get Ready, you enter the Limit orders it says there. Don't be greedy, if you see 10 pips you could close half your position and let the rest go.. depends on your money management etc. If you look at the 5 or 15min IB table you can see most of the time there is a fair decent profit to be had. To be on the safe side you could aim for 10pips..after all there will be lots of IB opportunities throughout the day, especially on the lower time frames.

[nvm313]

Thanks pierre23!

Btw, one more question:
Why is the IB indicator showing different numbers in the currency charts? Aren't they supposed to show all the same numbers regardless of which pair I look at (I use the M5 for all)?

If this is the case, which chart or numbers should I then follow?

I'm really confused

[pierre23]

I don't see why they shouldn't be the same.. I've never really taken notice. If they arn't I'm not sure why. Just before you take a trade, look at the previous bar and see if it's an Inside Bar to confirm. IB's are simple, if you don't know what one is just google it.

[nvm313]

Thanks, maybe it was just acting up....

Btw, should I add the spread to the trigger price when I put in my limit orders?

[pierre23]

Personally, I wait 10 pips AFTER the trigger price before entering and look for 5-10pips profit. If you look at the IB chart you can see most of the time there is 20+ pips profit.

When I use IB for trading this is what I do and take what I can get.

So it wouldn't hurt to add on the spread to the trigger.. See what works for you.

[nvm313]

Thanks a lot, pierre23, for all your replies!

[FunDip]

TRO -

Thanks for all your hard work, and for the update to the 2009 indicators.

I am really enjoying having your time/sales indicator as part of my decision making process - great work!

I would like to change the time it collects and displays the "Last" number to 5 minutes. I've looked through your code, but can't find anything obvious to modify - can you point me in the right direction if its possible? I am assuming that I'm understanding what its doing: it collects the upticks/downticks for 1 minute, and then displays the net direction of the ticks for the last minute, green net up, red net down.

I wrote an indicator in TS many years ago that plotted a dot on any candle that showed the opposite of internal direction i.e., 5 min. red candle with more upticks than downticks...it was usually good for a quick scalp. Your time/sales indicator reminded me of that, and how much I liked it...

Any guidance would be greatly appreciated.

Thanks again -

ww

[TheRumpledOne]

You would have to change this section of code:

TOS = TimeToStr(TimeCurrent(), TIME_MINUTES ) ;

if( ThisMin != TimeMinute(TimeCurrent()) )
{
ThisMin = TimeMinute(TimeCurrent()) ;
OldTPM = TPM ;
TPM = 0 ;
}



You need to see if the time ends in 0 or 5. If it does, then reset the count (TPM) to 0.