Forex Trading With Simple Setup - page 29
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
indicator based on Ramdas setup, I just changed the message so that the direction reads the right way! It nows works real well as a heads up to telegraph the large moves
Hi Increase,
do you mean that alert message saying..
"xxSMA ready to trend Up on xxxxx Period 5" ?
indicator based on Ramdas setup, I just changed the message so that the direction reads the right way! It nows works real well as a heads up to telegraph the large moves
Hi Increase,
do you mean that alert message saying..
"xxSMA ready to trend Up on xxxxx Period 5" ?yes ........
Using 5 Mnt chart will be very risky
Using 5 Mnt chart will be very risky
Hello nicesurf,
This is not simple 5min chart. you are watching price movement on char from 5min SMA50 till 4Hr SMA50.
Pl look at setup once again with different view.
if you open 5different chart with sma50..on each time frame e.g 5min sma50, 15min sma50, 30min sma50, 1Hr sma50, 4Hr sma50. that will cover your entire desktop, but in setup i given make you possible to views all those timeframes on single chart. so that you can watch different pair and price pattern formation around SMA
Best Regards
Ramdas
indicator based on Ramdas setup, I just changed the message so that the direction reads the right way! It nows works real well as a heads up to telegraph the large moves
Hi increase. I was not subscribed to this thread and so have missed a lot of recent discussion.
The indicator is as you say based on Ramdas setup but only loosely. In my opinion the Ramdas method is a very discretionary one that no indicator alone will be able to signal. I hope you see what I am saying here - the logic uses six ma's to generate a line that travels between -50 and +50. It tells you nothing about subtleties of price bouncing off this ma or that one.
That said I'm glad you are finding it useful. I see it as an oscillator for larger timeframes. If it is at an extreme, then look for price to turn. Ofcourse, because it is based on MA's, it does lag a bit.
regards
nc
What I found somehow usefull about this indicator (appart from overbought/oversold area), are these pullbacks of price, when it is good to enter to a trend.
That is, if the trend starts (50 SMA is crossed and bounced off on 5 Min), I look for these small pullbacks on 1Min and use them as an entry.
However, it is about what Ramdas wrote earlier, it needs guts to go long on the bottom of bearish candle.
I am attaching screenshot with today's cable.
I appreciate any input from anyone.
Hi increase. I was not subscribed to this thread and so have missed a lot of recent discussion.
The indicator is as you say based on Ramdas setup but only loosely. In my opinion the Ramdas method is a very discretionary one that no indicator alone will be able to signal. I hope you see what I am saying here - the logic uses six ma's to generate a line that travels between -50 and +50. It tells you nothing about subtleties of price bouncing off this ma or that one.
That said I'm glad you are finding it useful. I see it as an oscillator for larger timeframes. If it is at an extreme, then look for price to turn. Ofcourse, because it is based on MA's, it does lag a bit.
regards
nchow about pivots?
What I found somehow usefull about this indicator (appart from overbought/oversold area), are these pullbacks of price, when it is good to enter to a trend.
That is, if the trend starts (50 SMA is crossed and bounced off on 5 Min), I look for these small pullbacks on 1Min and use them as an entry.
However, it is about what Ramdas wrote earlier, it needs guts to go long on the bottom of bearish candle.
I am attaching screenshot with today's cable.
I appreciate any input from anyone.Pivots also give strong support and resistance - as do ma's sometimes. Have you tried adding daily and weekly pivots to your charts?
Pivots also give strong support and resistance - as do ma's sometimes. Have you tried adding daily and weekly pivots to your charts?
Hi numbercruncher,
Thanks for valuable advise. I will add weekly pivotes, since those are points where price action is most expected.
initialy i was using it, but after using it for sometime got boared with lot's of lines on chart and i removed it.
, i admit we need to keep watch on weekly pivotes.
some times we ignore some simple things.
Best Regards
Ramdas
Indeed, even though I read opinions that "classic" way of counting pivots and S/R levels based on previous day's range is quite meaningless. The best example is I think to check these levels after NFP friday.
Technicaly, it makes much more sense to calculate certain S/R levels based on statistical performance of each pair, based on its closing price. I do have such levels in percent for EURUSD (it is 0.35% and 0.5%).
But again, FX is not only about technicalities, but also about herd feelings.
BR,
Endy
UPDATE:
Here is something about those statistical pivots I mentioned in post. Just to check while market is going nowhere.
I hope I am not breaking some forum rules:
http://www.eurusdtrader.net/special_preview/movies/JYfree_seminar022407/JYfree_seminar022407.html
In the presentation, scroll to 62-63 minute. From the beginning it is just some basic FX stuff.
Pivots also give strong support and resistance - as do ma's sometimes. Have you tried adding daily and weekly pivots to your charts?