The Murrey Math Trading System - page 83
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Thats mean the price probability will go down coz touch the line 7/8? I think G/U will break untill 2xxx
Now after testing i prefer using Octaves (bu Xard777) rather than timeframe MML. I add a pivot line (not the S/Rs just pivot), and it'ok for me. More clear.
=x=ZigZag_Pointer_alert
xard777,
I understand that the pointers on this indicator re-paint as the values change but I was wondering if I might ask for a few mods or possibly point me in the right direction to make the mods myself?
1) Could this indicator be made to send text messages to a cell phone when possible change in direction?
2) Could this indicator be changed to leave the pointers instead of re-painting but only when it has gone past X amount of points? Maybe a default value at first but manually changeable depending on how far a pair is moving? Say every 50 pips greater than the last pointer?
I am using the "_101-64-day-frame.tpl" from post 768/769 to make trades. I have spent more time than I should probably admit on martingale systems like Terminator, 10point3, goblin, etc. with mostly great results but a lot of times it seems to be more lucky than anything except during news which can be a real killer. The weakest part of a system like those always seems to be choice of initial direction and the fact that you bury yourself the worse things go against you. I feel that MM may be a good indicator to choose direction although I realize that nothing is perfect. I have taken the time to write an EA based on the MML-v2 indicator to trade the extremes and currently testing on a demo account. For anyone interested the indicator does the following:
The EA takes a martingale approach using MM as the indicator. A good starting point might be to reveal the external variables.
extern string Order_Settings = "------------------------------";
extern double LotSize = 0.05; //Size of initial order
extern int LotPrecision = 2; //Used for NormalizeDouble to determine number of decimal places on lot size
extern int OrderSlippage = 5; //Number of Pips +/- an order price can be off when being placed
extern int Magic = 20070416; //Used to track which orders where created by this EA
extern double LotsIncreaseBy = 1.6; //New orders will be the previous size times this amount
extern double MinimumTakeProfit = 100; //Profit goal for the last order placed
extern bool PositiveInterest = false; //Trade in the direction of positive interest only?
extern bool PlaceStopOrders = false;
extern string Trade_Settings = "------------------------------";
extern bool Trade_28_SellX = true; //Sell at the +2/8 Level
extern bool Trade_18_SellX = true; //Sell at the +1/8 Level
extern bool Trade_88_SellX = true; //Sell at the 8/8 Level
extern bool Trade_78_Sell = false; //Sell at the 7/8 Level
extern bool Trade_68_Sell = false; //Sell at the 6/8 Level
extern bool Trade_58_Sell = false; //Sell at the 5/8 Level
extern bool Trade_38_Buy = false; //Buy at the 3/8 Level
extern bool Trade_28_Buy = false; //Buy at the 2/8 Level
extern bool Trade_18_Buy = false; //Buy at the 1/8 Level
extern bool Trade_08_BuyX = true; //Buy at the 0/8 Level
extern bool Trade_18_BuyX = true; //Buy at the -1/8 Level
extern bool Trade_28_BuyX = true; //Buy at the -2/8 Level
extern string MM_Settings = "------------------------------";
extern bool MoneyManagement = false; //Should orders be opened based on account percentage
extern int RiskPercent = 5; //Percentage of account used to place first order
extern int AccountType = 0; //0=Micro/Mini, 1=Standard
In this scenario pending orders would be placed at the +2/8, +1/8, 8/8, 0/8, -1/8, and -2/8 levels. The 8/8 lot size would be .05, the +1/8 would be .08 and the +2/8 would be .13. The same for the other end of the spectrum with -2/8 being .13 lots. The EA also does the following:
1) Checks to see if the lines have changed and if so then it places new orders and removes the old unless there are open trades. If there are open trades then it looks for an out which would be break even or better but leaves all trades as they are including pending orders. Once break even is achieved then it closes all the pending/real orders and resets itself at the new levels.
2) If the default 100 TP is less than 1 full line then it changes it to 1 baby line past the next line. Lets say we are at the 8/8 and 100 pips falls shy of the 7/8, the EA would overide the 100 pips and set TP to the first baby line below the 7/8 line. Each time a new order is triggered/opened the EA will also take the last TP for the newest position and reset any other open orders to the same. This may result in a loss in pips on older orders but the newer larger order will be worth more and still make a good profit.
3) Money management is programmed in to take advantage of account size.
4) Chart comments give information about # of open orders, OrderPL, OrderInt, Total of both, Lot by Lot info. It will display a message when lines have changed and infor that it is looking for an out. Also displays a message warning that you are not looking at the daily chart which is preferred for this EA.
5) If the "PositiveInterest" variable above is true then on pairs like EUR/USD only sell orders will be placed. I do not use this but it seemed like a good add if you were trading large amounts and the trades were open for a number of days which is most likely the case.
Anyways, I am rambling on but I felt if I was going to mention it then I should define it rather than answer a bunch of questions later.
So what I'm wondering is rather than set a TP maybe the pointers could be used somehow as a possible TP in the EA and maybe even to set the trades to begin with.
Picture this:
If the pointers did not re-paint but only alerted if X amount past the previous then that could be the start of the progression and they may overlap. Remember, this is just an idea. Lets say you have open sells, however they were opened, and the latest pointer is on top signaling a downward direction. Now the EA is possibly waiting for another Sell signal (a new pointer is generated past the last one by X pips) or for a new buy signal for a potential buy (pointer on the bottom). If it generates a new buy then it could just close the sells and open the first buy or it could open a new buy and wait for it to move a certain amount up from the last buy before closing the sells. If it continued downward then a new pointer might be generated opening another bigger buy and still looking to get rid of the sells if it actually starts rising from there. In a way you are almost hedging your positions until it actually reverses and moves up. At that point the sells would be closed and the buys would travel up and eventually start opening new sell orders. I realize this may sound overly simple but I think it could have great potential and by the time you start to turn around the first time you may not see much if any floating negative because even though you are opening more and more buys you still have your sells which are positive (possibly).
I have spent a great deal of time reading thru every post on this thread and I appreciate everyones time and contributions and I think it's great that I could have a moment to share mine. Any feedback would be much appreciated.
Thanks again,
Matt
Matt, I don't mean to be discouraging, but I already have a generic EA that does what you describe. A few posts back I listed the performance without filters. I have a few filters programmed and the EA is profitable with generic settings on some currencies. The filters focus on blackout timeframes, blackout price ranges, other indicators, etc. The system is currently trading profitably, so I think it can be done, but it is not the system you describe.
I also need to be clear on another point. Although I'm working with similar 'octaves' my math calculations are different from Murrey's. (Which I argue a lot here.) There are also other challenges like the under-documented half and shifting squares which should NOT be traded as normal. The challenges are numerous, I've put in over 200 hours into my EA research and I already had a working EA shell (a template I wrote for order entry, modification, management, etc).
With that said, it is possible, I've done it. I also described how to do it in numerous messages spread through this thread. I've revealed the insights from my research, but I haven't (and won't) post my code. I hope to run my software as a Managed EA service based on a % of profit. I'm still refining the system slightly, but the number of 'possible conditions' for me to improve is getting very thin.
I'm interested to see what you come up with. I posted the template I created (under a QPL license which means freedom except credit and commerce) under the Phoenix threads.
Hi CMC
I made some changes to the 64-Day-Frame setup that you use.
If you want to try it...
Unzip indicators to Metatrader4/experts/indicators...
Unzip #101-64-Day-frame.tpl to Metatrader4/templates...
Restart Metatrader4, right click mouse & select template/#101-64-day-frame
Now try it out on a 15/30Min chart or whatever period you like...
Quick Description
Main Trend = Magenta(down)/Green(up) line
Minor Trend = Red(down)/Blue(up) line
Major Trade change = Red(going down)/Green(going up) Target Sight
Minor Trade change = Yellow dotted line (up/down)
Buy/sell confirmation signal = Blue Box
Trailing Stoploss = orange boxes (you can also use the Major/Minor trade change to pullout of a profitable trade with max pips)
Happy Trading...
Xard777Awesome! I will test and report back my results. Thanks for all your hard work!
Chris
I might suggest including the high and low for each of the time frames as well... When Gann and Murrey agree it seems much more reliable.
Awesome! I will test and report back my results. Thanks for all your hard work! Chris
xard,
Cool, I'm trading demo E/U with the 64 day set up template. Got short signal on 4hr Friday, closed this morning for 40 pips with the signal to go long. I work full time so this is a great tool for me to get it going where I can leave the job and focus on this MM method. Thanks for you hard work and i will keep practicing for a while to get the feel of these indicators.
Chris
Hi All
Which is the best time frame to enter into the Calc that xard posted up, if you are intra daytrading?
Thanks .......Maths
Hi All
Which is the best time frame to enter into the Calc that xard posted up, if you are intra daytrading?
Thanks .......MathsIf using Cable intraday try frame 512 setting
Xard777
Cool
If using Cable intraday try frame 512 setting Xard777
How to use the calculator?