Forex Freeway - page 15

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Freeway-All is a great idea, but when you switch your charts on you do not know what position they are in.

Can this be made as an indicator that goes in a bottom window and a red/blue dot for position ?

Many thanks

Martin

 

Hi Keris,

Very many thanks for converting it to RSX. I'll see if I can get my head around the programming bit but it's a steep learning curve.

Regards

Chris

 

Hi,

I love this indicator as I m a big fan of the 50CCI for a long time and this gives a better perspective.

Hi Mart,

is there a 50CCI chat yet?? Last time I checked, no fx chats for 50CCI open yet.

 

Hi RM,

We have a 50/14 cci thread going on ST2W,

There is also a chat room attached to the site which could be used, but in the past peeps just drift away from chat rooms for trading.

If there was interest we could fire it up again

Martin

 

Hi to everyone.

Thanks for your warm words....

I want to answer some of the questions.

The idea behind this indicator is that it is not attached to any currency-pair. It will check for every currency-pair if 15M,30M, 1H, and 4H 50CCI are ALL above or below zero. if yes, the it will play a sound and give you a printed line explain the finding. This line can be found at the "Expert" tab on the terminal pane.

So, actually it is up to you to decide on what TF you want to trade.

You DON'T have all the chart open and the indicator dosen't care about open chart. You, just need one chart open so the the indicator can be attached to it. Of course it is not a bad idea to have the chart that u want to trade with, open .

The 4 line blue/red indicator that u see in the pic I attached is another indicator that I created, which is very simillar to the one that desoft kindlly posted (and actually, start the whole thing that u see here, and I want to thank him very much), but in a seperate window. This indicator can be found here.

If you have any other question, let me know.

 

Alert?

I saw that DeSoft asked in the initial post if anyone could code an alert for the FF indicator. I read through the thread and did not see that that had been done yet? Was it added to the original indicator or something possibly? If not is this something people are still interested in?

~Nebula

 

An EA for Forexfreeway

Has there not been any talk of creating an EA for this effective indicator because there is human discretion needed as far as watching support and resistance levels for entry and exit? Any opinions? (Personally I still haven't created any free time to tackle the job of learning coding yet. )

 

I hope everyone is finding the Forex Freeway useful. I have been playing with the Murrey Math idea and it seems to be of value. I have taken a few trades when the 5 min 0/8 line agrees with higher timeframes. It seems that when the freeway is an all go and MM agrees, there is a very high probability of a strong trend almost to the 8/8 line. Maybe this should be investigated a little more. I still would like to see an alert function tied into the freeway indicator and also inputting MM lines over multiple timeframes as well. I think this would give us a very good trading edge over any other system. All input is greatly appreciated. Thanks.

DeSoft

 

My rules are:

Take trades only in the direction of the 4h 50CCI

Buy on 0/8 or lower, sell on 8/8 or higher

Use multiple lots. At least 2.

Reduce position after 30 pips (for cable) or the first target MM (the other side of the range)

In case all lanes turn in your favour, keep the last contract open for a longer ride. Alternatively, if the trend has been strong, reduce your position on consecutive MM targets remembering, that the further you go, the bigger the chance for an unfavourable retrace.

If the price goes against you, but the 4h column still says go, add to the position on the next MM entry level.

Stop loss IS the 4h column. If it turns against you, close the entire position and and if conditions are favourable, reverse on the closest fractal breakout.

MM acts as entry levels and targets. The more tfs agree the better. Currently on cable, the big run up has paused on the 7/8 level on the 4h tf. I think that this week we will see the price reaching that level and perhaps it will be the place where cable starts a retrace (might not be a big one considering the recent dollar weakness). Trading the 5min tf is safest between 4h MM levels. You WILL see at least a correction of some sort when the price touches a 4h MM level. It VERY rarely doesn't react.

Igorad was kind enough to post an updated MM indicator. He fixed the bug that didn't allow the previous one to refresh on a new candle. Here's the link to the file:

https://www.mql5.com/en/forum/general

 

Hey Daniel,

Have been playing around with the freeway for the last couple of days but have just started trying it with Murrey Math. What settings do you set the Murrey Math Lines F to??

Cheers!!

Mike

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