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MM uses Three Time Trading Frames. 16, 32 and 64 days
also mm uses above Frames multiplied by 1.5 + 1 Day
therefore next period up from 32 and down from 64 would be 49
(32 x 1.5) +1 = 49....so if 32 is too tight to trade and 64 too large, why not try 49. Simply right click on the chart select indicators list - double click on #00MM-TimeFrame and change value of P from 32/64 to 49.
Let me know how you get on...
Xard777I always use 64. E.g. 64 frames on 15 minutes = like 32 on 30 minutes
About the calculation:
if we calculate the close during the period the last bar still moves there is a possibility the calculated value is too high IF it trades above the prior bar at that moment. Current price = Close AT THAT MOMENT Not said the bar will close above the prior bar. In that case calculation is not 100% correct
I always use 64. E.g. 64 frames on 15 minutes = like 32 on 30 minutes
About the calculation:
if we calculate the close during the period the last bar still moves there is a possibility the calculated value is too high IF it trades above the prior bar at that moment. Current price = Close AT THAT MOMENT Not said the bar will close above the prior bar. In that case calculation is not 100% correctThanks for your help, I have been using #00MM-TimeFrame64 with success for a couple of days, on M5, this morning when I open MT4 the lines are all cramped up so you cannot see the divisions, any comment on what to do, or why?
I changed to zoom and could read them, but I wondered why it suddenly changed
Duh, looks like it was beause I added a couple of indicators below in seperate windows, that compressed MM
Thanks for your help, I have been using #00MM-TimeFrame64 with success for a couple of days, on M5, this morning when I open MT4 the lines are all cramped up so you cannot see the divisions, any comment on what to do, or why?
I changed to zoom and could read them, but I wondered why it suddenly changed
Duh, looks like it was beause I added a couple of indicators below in seperate windows, that compressed MMFirst of all it's not my indicator, I only suggested the script for calculation on the close i.s.o. the high. All credits are for Vladislav Goshkov, cja and xard7777
Anyway, don't know what you are trading? But on Eur/USD last days the range during the day was extremely small on the short timeframes causing MM to cramp up on these timeframes.
Trading with MM Levels
Thanks for your help, I have been using #00MM-TimeFrame64 with success for a couple of days, on M5, this morning when I open MT4 the lines are all cramped up so you cannot see the divisions, any comment on what to do, or why?
I changed to zoom and could read them, but I wondered why it suddenly changed
Duh, looks like it was beause I added a couple of indicators below in seperate windows, that compressed MMI have used MM for 18 months and use only the 64 setting. I generally trade off the 5 min while checking out the 1 & 15 min, with a brief check now and then on the 60 min just to see where the support/resistance ( MM Levels ) is and what MACD & RSI are up to.
I confirm MM support/Resistance with MACD/RSI and pick entry off 1 min.
15 min MM Levels & MACD/RSI give me the short term trend strength.
On the 5 min chart when price reaches a potential MM reversal level wait for MACD to start turning RSI Oversold/Bought & where RSI is in relation to the 50 level ( The 50 level can provide support/resistance & help confirm trend ) also look for Pos/Neg divergence on MACD/RSI ( MACD Histogram often gives early warning of price direction changes with Divergence )
Check 1 min to see where price is in relation to MM levels and enter after RSI has turned ( from above 70 or below 30 )up/down and just as MACD Crosses
Works real well in a consolidating market or a trending market
Tonight made 3 good trades all worth 30 plus pips just by trading the short term shifts, the more you use MM levels the better you get to know what price is going to do next.
OH and you have to be really aware of up coming NEWS because that can throw a real curve ball into the proceedings if you are not ready for it.
See the attached 5 minute chart for my trading setup
Murray Math line description
There is a detail document descrbe about the concept of Murray Math. Please see the attachment.
hello,
can anyone explain to me what is the "Circle of conflict" in Murrey math, I read it in the note here
http://mysite.verizon.net/bonniehil.../TKnotes.1.html
but have no idea what it is about. What's its practical implication in trading and how to draw it? thank youPlease check the attachment on post 102.
5 Circles of Conflict:
Are constructed "Automatically" inside the "pre-set" Trading Frame.
The Daily Trading Price Action of any market will want to "avoid" these 5 Circles of Conflict 68.% of the Time.
These 5 Circles of Conflict will help "predict" Elliott Wave reversals long before any market's Daily Trading Price Action moves into its Trading Frame.
"New" students will learn to "see" market trading action trying to avoid these "center" circles as it trades through (left to right) its current Trading Frame.
2) Orange Juice Futures: chart: (with 5 Circles of Conflict)
Example Chart 2
We shall be happy to help "new" students learn to "see" how these 5 Circles of Conflict affect any market's Daily Price Action Movement.*
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HTH
Regards,
hi, Xard777!
#00mm_timeframe_v2 has the INPUT SETTING SETPBACK=0,what's this mean??and i found different setting make different lines!!BTW how can i make this indicator repaint when the price change!??
jingo_lu
@ jingo_lu
I would suggest to read all posts in this thread first, they explain a lot.
Pay special attention to post #1, 7, 20, 23 and 46 as they contain 'valuable' links containing methodology and 'how to calculate'
Regards,
@ jingo_lu
I would suggest to read all posts in this thread first, they explain a lot.
Pay special attention to post #1, 7, 20, 23 and 46 as they contain 'valuable' links containing methodology and 'how to calculate'
Regards,THX~~~~~~~~~~~~~