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how to use buy zone indicator?
Posted: Sat Jan 27, 2007 9:37 am
by duane2757
I downloaded the motherload files and inserted buyzone as an indicator for a chart but the chart appears the same as before I inserted the indicator. I thought the indicator drew a patteren of high and low areas to buy and sell within the pattern. Can someone tell me what I'm doing wrong. And is there any files to tell me how to use the different indicators I downloaded? and what the settings should be or what type of chart to use 5min, daily, weekly,monthly etc....
Posted: Sat Jan 27, 2007 2:01 pm
by Robert2617
I am removing this post so no one gets confused.
Posted: Sat Jan 27, 2007 3:26 pm
by TheRumpledOne
Robert2617 wrote:Somebody correct me if I am wrong please.
My understanding is that this indicator is mainly used at the open of the day or early on in the opening day.
I think the trade is supposed to go something like this:
If today it has gapped up, wait till the price comes down into the "buy zone" from above. Once it crosses, sell short. Hold that short position untill it crosses into the short zone. Cover you position.
If today was a gap down day, wait till the price rises into the buy zone from below. Once it crosses, go long. Hold that long position until the price crosses into the long zone and sell your position.
If it opens at the close of the previous day, not sure how to play that.
Based on TRO's statements, this strategy should be good for $0.10-$0.12 on each trade.
I'm a new trader too and have not used this yet but I have read volumes on this forum and the TS forums and this is my understanding. Somebody with more experience should confirm this before you take what I say as correct. I would like to get this confirmed as well.
TRO calls this "Milking the Cows". Also, from my understanding, you must find the proper "Cows" to milk. That would be a stock that trades in a certain range on a regular basis. To find them I think you are supposed to use the "Milk the Cow Checker" radar indicator after hours some how. I don't understand how to use that MTCC yet.
Somebody else will have to tell us how to do that.
My thinking was to use the Milk the Cows strategy right off the bat in the morning then switch to the Gridiron chart indicator and GridironTrade radar indicator for use during the day.
YOU ARE WRONG!
You do NOT go short in the buy zone.
You do NOT cover your short in the short zone.
IF YOU DON'T KNOW/UNDERSTAND MY METHOD ( OR ANY METHOD FOR THAT MATTER ) THEN PLEASE REFRAIN FROM ANSWERING QUESTIONS.
We do NOT want to confuse traders.
I have posted how to MILK THE COWS elsewhere. Please search the forums.
Posted: Sat Jan 27, 2007 4:47 pm
by Robert2617
10-4, Understood. Confusing people is the last thing I want to do.
So based on your above post, I take it you go long when price rises up into the "Buy Zone" and go short whe price falls into the "Short Zone"? Sell or cover after price has moved in your direction and hit your target?
Is that correct?
Posted: Sat Jan 27, 2007 11:32 pm
by stifland
which month of Motherlode is the _Buyzone file in? I can't find it by searching..
Posted: Sun Jan 28, 2007 12:36 am
by TheRumpledOne
ELD for the scalping indicators is attached.
Posted: Sat Mar 03, 2007 10:53 pm
by billbree
buy zone from the Pirate Meeting
Posted: Sun Mar 04, 2007 3:50 am
by zeller4
billbree or TRO,
could you TS pirates show us a screenshot of the buyzone for us E-signal pirates? (or what the "sister" .efs file is?)
Thanks,
z
Posted: Sun Mar 04, 2007 3:53 am
by zeller4
Any other new treasure mateys???
z
Posted: Sun Mar 04, 2007 5:53 am
by TheRumpledOne
zeller4 wrote:billbree or TRO,
could you TS pirates show us a screenshot of the buyzone for us E-signal pirates? (or what the "sister" .efs file is?)
Thanks,
z
The eSignal equivalent is called TRO_TRADE_ZONES. Just download the latest eSignal Motherlode zip file. All the TRO eSignal indicators are in there.