Elite indicators :) - page 87
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mrtools,
I like your setup with clean charts and only a few simple indicators. My trading method also involves using support/resistance and trendlines. Would you mind sharing that s/r indicator (dotted lines) as shown on your charts?
Regards,
DPB.Sorry for such delayed response just noticed your post. Yes it does show S&R but its actually a zig zag 1,2,3 indicator.
Apologies if not posted in the correct thread, NewDigital.
It would be great if one of the brilliant programmers here could add MTF to the DTosc indicator. This indicator is an excellent fast stochastic and derived from the Dynamic Trader program by Robert Miner (excellent book btw).
I have tested many stochastics, but found this one to be the best and most accurate in defining turning points and following cycles (I also use it to count cycles/waves, works well).
If anyone needs more info on this indicator, let me know.
Cheers and thanks in advance!
...
It could have been done on a public thread too (since it was there I posted dtosc for the first time) but, anyway, here you go
regards
mladen
Apologies if not posted in the correct thread, NewDigital.
It would be great if one of the brilliant programmers here could add MTF to the DTosc indicator. This indicator is an excellent fast stochastic and derived from the Dynamic Trader program by Robert Miner (excellent book btw).
I have tested many stochastics, but found this one to be the best and most accurate in defining turning points and following cycles (I also use it to count cycles/waves, works well).
If anyone needs more info on this indicator, let me know.
Cheers and thanks in advance!Yeah, I wasn't sure. But thanks a lot mladen...truely class #1 job!
...
I have tested many stochastics, but found this one to be the best and most accurate in defining turning points and following cycles (I also use it to count cycles/waves, works well).
...
If anyone needs more info on this indicator, let me know.
I've tried it, and i like it, especially on TF from M15. E.g. the following settings on H1 are nice:
PeriodRSI =15
PeriodStoch= 8
PeriodSK = 7
PeriodSD = 2
MAmode = 3
However, it seems the PeriodSD has no influence at all?
I had another favourite before, the Double Stochastic, but this one is faster and more flexible to calibrate.
Yes, Snowski, it would be nice to get more info!
And thanks to mladen for making it MTF.
Thanks Kiasom for your reply and settings, will have to try those.
The PeriodSD has influence, it is the red dotted line in the attached examples. Try to change the value from 3 to 8 and see what happens...
I use the following settings, depending on the pair and marketconditions:
From the book "High Probability Trading Strategies" by Robert Miner
Robert uses 3 different settings depending on market conditions
Best way is to test each setting and see which one fits best, these settings are the ones I use most and differ slightly from Miner (last digit is smaller, so the crossover of the dotted red line is somewhat tighter):
- DTosc(8,5,3,3)
- DTosc(13,8,5,3)
- DTosc(21,13,8,5)
- DTosc(34,21,13,10)
Best settings: The goal is to obtain 'waves' that nicely oscillate from OS to OB zone and back.
Use: see also the two examples below. When for the current TF the right "fit" has been determined, I use the DTosc for identifying momentum and price reversals. Once again, this all depends on what you want to achieve and your trading strategy.
As part of my trading strategy, if I get a long signal, I check DTosc for confirmation and possible reversals:
- If DTosc is in OS area and turning bullish, this is a nice opportunity to enter the long trade.
- If DTosc is bearish (heading south), I wait for reversal of DTosc in this timeframe before entering the long trade.
This rather obvious technique has seriously improved my trading results as I have noticed the DTosc is extremely fast and accurate.
When in doubt, I check the lower timeframes and make sure DTosc is lined up in same direction.
Example:
H1: Get a long trading signal, DTosc reversal turning bullish from OS zone.
M15: DTosc is headed south from OB zone.
In this example, I wait until the DTosc is turning bullish again (bullish reversal) in the M15 TF before going long.
Last tip (but this goes for all oscillators as well): watch for divergences.
Happy trading
Thanks for the feedback. You're right about the PeriodSD. I like to have it visible though, as it shows me crossovers. Just something personal I guess.
Your MTF strategy is comparable to mine. I like to see different timeframes and where the momentum is within those timeframes when I enter or exit a trade. It is just a secondary tool for me as it shows me potential setups, so it's not a trigger.
Interesting to see your different settings. What's your guideline on obtaining the most appropriate settings for each pair/timeframe?Hey you all just want to throw my 2 cents in case you might be interested changed the RSI to JRSX, actually wasn't as fast as RSI until I cut the JRSX down to 7 from default, this is it with Red=current timeframe, brown=H4, very clear entry and exit with H4. Thank you Mladen,(sorry for my hack), for this indicator and Snowski and Kiasom for bringing this up.
mrtools,
that is no hack, but working together (a bunch of people adding and sharing with others (as it is happening right now with snowski, kiasom, you, ...) is almost the best thing that can happen), and I must say I am very glad for it
:):)
regards
mladen
Hey you all just want to throw my 2 cents in case you might be interested changed the RSI to JRSX, actually wasn't as fast as RSI until I cut the JRSX down to 7 from default, this is it with Red=current timeframe, brown=H4, very clear entry and exit with H4. Thank you Mladen,(sorry for my hack), for this indicator and Snowski and Kiasom for bringing this up.