Price Patterns(Gartley,Butterfly,Bat,...) - page 112
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Most of those indicators are public (besides - Ichimoku is standard indicator in metatrader). Just 1 or 2 additional indicators are from elite section. I always confused about what is elite and what is public
Thank you.
Do you use the default settings (9, 26, 52) of Ichimoku standard indicator?
On D1 tgimeframe: the price is trying to beak the trend line (blue dotted line). It should be broken on closed bar but the bar is still open. The price is "floating" during the day by high/low of the open bar between 2 support/resistance lines (blue/red dotted lines). We can see it tomorrow only - broken or not - when this open bar will be closed so you can see where it will be closed exactly.
So, it is Bear Market Rally (correctional uptrend after bearish).
On H4 - same - it should be on closed bar.
But please note - those support/resistance lines are moved: if the price breaks some line so the line will be moved to the other level, or - if we have different price "configuration" concerning support/resistance so the lines will be moved too.
So, it is same for H4 (Bear Market Rally).
Same for H1: the bar should be closed: the only closed bar can be considered for breakout.
But: did you see yellow cross for H1 chart (on your image)? if I remember it is some kind of price pattern. We should look where the price will be closed: about or below this cross. If above so - local bullish, if below - bearish (just for confirmation).
As to Ichimoku chart so we should look at white line (#1 on my image): if this line will break the price so it will be good signal for bullish. The same with resistance line (#2 on my image): if the price will breal this blue dotted line so it is good signal for breakout.
Thank you. Do you use the default settings (9, 26, 52) of Ichimoku standard indicator?
Yes. The only I change is the color of Chinkou Span line to be white color on the chart. Because it is last but most strong 'indicator line' for breakout.
It is the results for today in pips (4 digit pips) and in dollars:
EURUSD:
- pips: 18
- dollars: 37
USDCHF:
- pips: 41
- dollars: 50
Metatrader statements for 2 pairs:
It is visual statements for EURUSD:
and for USDCHF:
All the statements are attached.
I traded using 10p3v0.0321_2 EA.
=============
- HWAFM tool for Metatrader 5 is here;
- How to instal - read started from this page till this one
- How to instal HWAFM tool for Metatrader 5 for Windows 7 : read this page till this one.
- Trend Scalp system for M1 timeframe for Metatrader 4 to be used together with HWAFM tool for Metatrader 5: public version and elite section version.
- how to trade using HWAFM patterns tool for Metatrader 5 and Trend Scalp system for M1 timeframe for Metatrader 4 in the same time :some trading examples/trading statements/results started from this page till this one; explanation about trading styles - read this post; explanation about Maksigen indicator - read this post.
- semi-automatic method of trading by EA: idea originally came from this page till this page; Original version for semi-automatic trading is 10p3v0.0321 EA; The new version for semi-automatic trading is 10p3v0.0331 EA: download from this post with the explanation - the user can select between MACD or TrandScalp strategies.; 10p3v0.0321_1 EA to be used together with Trend Scalp system for M1 public version with no re-enters is on this post and same but improved version (10p3v0.0321_2) with re-enters is on this post (use/download 2 indicators from previous 10p3v0.0321_1 version/post); explanation of the EA's inpuit is here.
It is the results for today in pips (4 digit pips) and in dollars:
GBPJPY:
- pips: 46
- dollars: 59
Metatrader statements for this pair (first trade for USDCHF was mistaken sorry):
It is visual statements for GBPJPY:
All the statements are attached.
I traded using 10p3v0.0321_2 EA.
10points_3_Smi1a EA did not take any trade ... I think - I will change the settings for this EA because this EA looks very promising in backtesting concerning our system.
=============
- HWAFM tool for Metatrader 5 is here;
- How to instal - read started from this page till this one
- How to instal HWAFM tool for Metatrader 5 for Windows 7 : read this page till this one.
- Trend Scalp system for M1 timeframe for Metatrader 4 to be used together with HWAFM tool for Metatrader 5: public version and elite section version.
- how to trade using HWAFM patterns tool for Metatrader 5 and Trend Scalp system for M1 timeframe for Metatrader 4 in the same time :some trading examples/trading statements/results started from this page till this one; explanation about trading styles - read this post; explanation about Maksigen indicator - read this post.
- semi-automatic method of trading by EA: idea originally came from this page till this page; Original version for semi-automatic trading is 10p3v0.0321 EA; The new version for semi-automatic trading is 10p3v0.0331 EA: download from this post with the explanation - the user can select between MACD or TrandScalp strategies.; 10p3v0.0321_1 EA to be used together with Trend Scalp system for M1 public version with no re-enters is on this post and same but improved version (10p3v0.0321_2) with re-enters is on this post (use/download 2 indicators from previous 10p3v0.0321_1 version/post); explanation of the EA's inpuit is here.
Most of those indicators are public (besides - Ichimoku is standard indicator in metatrader). Just 1 or 2 additional indicators are from elite section. I always confused about what is elite and what is public
If i can remember correctly,
, ND you did posted the ichimoku together with Igorad's indicators for public version, not much different from what you post the elite section one.
yes but I do not remember where I posted it.
The only elite indicators are AbsoluteStrengthMarket indicator to check market condition in multi timeframed way, (but it is some kind of variation of public AbsoluteStrength indicator described by many posts etc), Fourier Extrapolation of full SSA normalized indicator (i am not using it; just in case to see the future
) ... may be - some more ...
But please note: this Ichimoku chart (or any technical analysis of the chart by indicators) are giving later signal compare with patterns (HWAFM tool). The first news about direction we can know from HWAFM tool and after some time - from the charts with indicators.
ND, neither do i remember which thread or which post you have posted it. But at that time i asking you about price channel signal_v1.2. And you ask the programmer, Igorad, to post it for public version.
I think the difference should be, public version are not having the trend strength indicator and the absolute strength market indicator. The public version are standard ichimoku indicator, absolute strength indicator and price channel signal_v1.2 indicator, but now i am not sure price channel signal_v1.2 will be available on public since it was originally for elite section.
ND
So, in this 4hr chart, we had price at the support (blue dotted line) which bounced, where the 3 is and tried to head towards resistence (blue dotted line). So, do you trade between these dotted lines, also when either of these dotted lines are broken this is what you call a breakout, correct.
The white span line, which is a strong indicator, why is it so far away from price when you say you use a cross of this line to indicate direction, sorry about the stupid questions.
Looks like we are on our way down to support, if she breaks this we have a breakout to the downside, correct.
ND
So, in this 4hr chart, we had price at the support (blue dotted line) which bounced, where the 3 is and tried to head towards resistence (blue dotted line). So, do you trade between these dotted lines, also when either of these dotted lines are broken this is what you call a breakout, correct.
The white span line, which is a strong indicator, why is it so far away from price when you say you use a cross of this line to indicate direction, sorry about the stupid questions.
Looks like we are on our way down to support, if she breaks this we have a breakout to the downside, correct.breakout to downside = breakdown (forex term).
breakout to upside is breakout.
Primary market trend:
- bullish and bearish.
Secondary market trend
- correction. A correction is a downward movement that is not large enough to be a bear market.
- bear market rally (or market rally). consist of a market price increase of only 10% or 20% and then bear market trend resumes.
It was forex terms.
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I did not trade between those lines.
Sometimes - I am placing pending orders on those price levels (buy stop for blue dotted and sell stop for red dotted but for M5 or M15 timeframes only). There is some other maksigen indicator (channel) to trade between the channel lines (there are 2 maksigen indicator for scalping - I am just using one for support/resistance only).
White Span line (Chinkou Span line) is crossing the price on historical data. You can see this crossing:
Ichimoku chart as separated indicator is having 5 or 6 signals (do not remember sorry). So, this crossing is the last one, coming later but it is most strongest signal.
As to USDCHF so if this Chinkou Span (white line) will break the price for uptrend so we will have breakout. But it may be market rally as USDCHF is on bearish for now on H4 timeframe (price is below the cloud of Ichimoku chart).
But what market rally for H4 timeframe is breakout for M30 and = very very good bullish for M1 scalping