With permission and credits to newark18, the transcript of our PMs
Thank you for your indicator. I will test it out. How successful have you been with this system? I recall seeing your threads indicator pretty good performance. Thanks again for sharing
Pretty successfully. I went from blowing accounts -> not blowing accounts -> gaining reasonable profit on a daily basis. I only posted the indicator simply because it has stood the test of time well and just works.
The rest is really about discipline and watching PA, thats all.
You don't give too much assistance in interpreting your indicator. Will it become obvious at some point?
That's the point. I am making it in such a way that there is no need to interpret, really. As simple as possible. Interpretation will cause lots of problems. The indicator is to just tell one what is happening pretty plainly as it is. It helps one see standard price action better.
Unfortunately for the user of the indicator, he must play his part. It means one must try it 1st, then ask questions later, then continue trying. This way the questions are more objective for the person's learning. Admittedly myself too, spoon feeding for trader's aren't healthy.
I don't wish to post walls of text that no one can understand. It would be way better if questions are asked, after trying out the indicator in whatever manner that you know initially. Then I would tune my answers to suit your style of trading / learning / seeing perception. Its better in the long run.
All this has nothing to do with the indicator eventually, but how we learn and see as individuals.
Is there a way to run this through strategy tester so that I can see its action with increased speed? I couldn't get it to start running through strategy tester as an indicator. I don't know why.
The multiple TF zigzags are interesting. But I cannot understand the words on the side. I hope that is not too important.
Yeah, you can't use it on a strategy tester. I tried too and found that strategy tester only loads the candles of the current MT4 timeframe. Unfortunately the indicator requires candles from muiltple MT4 timeframes.
The multiple TF zigzags are one of the important keys.
The higher (Senior and Perspective TF) give perspective of the macro market movement
The middle (Trading TF) gives the trader the overall view
The lower (Session and Entry TF) allows finetuning of entry / avoid sloppy entries
Ref : see LESSON 6. WAVE LEVELS, ELDER'S TRIPPLE SCREEN SYSTEM.
MasterForex Lesson 6
The main page is down as far as I know, so getting it from google cache
The words on the side might are might not be important or helpful to you. For me its helpful as I am both a Visual and Auditoral learner. So I need both pictures and words.
The colors/waves/swings/lines SHOW me what is happening
The words on the side TELL me what is happening.
No interpretation is needed.