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These are my thoughts, hope it makes sense,
please comment.
Rule
#1 let the dot dance around
#2 let CCI go above 101
#2 let SHI repaint
#3 S&R too would get steady by now
when the above 4 are aligned, a sell trade should trigger
when HMA (red) & Trend Histo (red) fire signals (reverse for buy)
...and it would be better on a closed candle.
I am not sure of the TP, but nothing less than 150-200pips.
Screenshot attached.
Mukesh
Thanks very much for the indicators guys, much appreciated?
Mukesh, a quick question? What does SHI look like when the dot is drawn, does it not still show an uptrend?
If this is the case, would we then ignore the first signal and wait for SHI to tilt in the direction of the trend before considering any trades?
Cheers
Wayne
Good question, Wayne.
Here's a screenshot on how SHI looks like when a dot is drawn on H4.
All three signals were valid, but Trend Histo & HMA din't validate them,
there may have been dots earlier, which sure should be ignored and
wait for SHI to tilt....then again SHI too repaints, but atleast helps
ignore the dots in between the channel, it can help scale in the lots
or exit in steps depending on where the channel stops.
Mukesh
OK, now that last chart you posted is just downright scary.
OK, now that last chart you posted is just downright scary.
===========================================
you should see what i took off of it so as to make it easier to read !
but a first clue to LRC activity is how the prices will hit ONE line and then make its way down to the other line, similar to bols, etc. During ALL periods of trading, one can actually place a year long trade based on them alone, although volitile periods will cause them ole dreaded drawdowns till price gets to the other line.
GU is not the "smoothest" running currency in this world, but there are others that one simply takes their trade at the bottom and sells at the top, shorting the move down and sitting back, lets the trade just ride !
in ALL timeframes, along with support and resistance and a couple other things, they are the "breadwinners" of forex, exalted by the gods and the reason we own texas now (sometimes one has to wonder if sam houston was right in wanting it to begin with !)
enough of philosophy
mp
MP -- DONT MESS WITH MY LRC's
Mukesh,
You pushed my hand pahdna and I want you outside rite now !
once the moving average/MACD thingie had settled in and everyone was comfortable with it, i was going to talk about my absolutelst bestest thing to put on a chart since mushrooms and pepperonni's and you beat me to it with those silly SHI thingies !
in the real world we call them LINEAR REGRESSION CHANNELS and here you know them as "SHI channels", which are very similar but not quite the same thing.
using LRC channels, one sees the "normal" tops and bottoms of the channel the currency is moving in, depending on the timeframe ! Used normally, they ARE the LINES that are passed when one says "breakout" or "breakdown", as the price has to "break" out of something and that something is the LRC lines ! They come in plain and simple, supersized and the version i prefer "grand marnier !"
extremely accurate, wonderfully predictable and rather necessary, they are (essentially) two trend lines drawn parallel to each other based on normal regression of the currency, and as such are yet another one of those things the banks are using --- in fact, if a currency is topped on its major channels, you will see the currency GO DOWN, even if some released news was positive, cause thats the TREND channel and forex (says he, polishing his nails against his imported cashmer sweater) IS THE MOST TREND HAPPY TRADING INSTRUMENT IN THE WORLD !
Ive taught about LRC so often that ive already got the lessons in memory -- let me dig em out and soon you also will know more than 98.6% of the rest of the world.
the first one enclosed is from a few years ago and is the first page to a series of lectures given back then --- the second is from my quotetracker charts and shows the last few months of GU ---- forget all the lines and bumps and numbers, cause i aint taught about those yet, so they dont exist !
ill dig the rest out, or some of the latest stuff, cause LRC next best thing to whatever IS the best thing (cause if you use it well, it will give you LOTS more of whatever IS the best thing)
after I do that, i would wish to find some way to change my title from "senior" member to something more suitable, like perhaps "grand poobah of the LRC"
enjoy and trade well
PLEASE NOTE -- on the following chart, I was obviously in a VERY optimistic mood, as i state to BUY at the lower LRC --- in point of truth, while i still am optimistic, WAIT for upside signals before you automatically just go long, as channel tops and bottoms are the breakout points of song and fable !
mp
Great discussion going on guys. I am still tweaking and demo trading various ideas, but I also use LRC.
Every LRC indicator draws the channels differently, but we have other tools as well.
I am posting a 4hr cable chart. I am using MTF version of megatrend, LRC indicator, Barrys support and resistance with laguerre and reversal dots.
It looks to me like cable is getting ready for another fall to start next week I've tried to explain in the chart..
Can you please post the MTF Mega and LRC. I've never found a decent LRC for MT4. You're already on an H4. Is your MTF on daily?
Great discussion going on guys. I am still tweaking and demo trading various ideas, but I also use LRC.
Every LRC indicator draws the channels differently, but we have other tools as well.
I am posting a 4hr cable chart. I am using MTF version of megatrend, LRC indicator, Barrys support and resistance with laguerre and reversal dots.
It looks to me like cable is getting ready for another fall to start next week I've tried to explain in the chart..Great discussion going on guys. I am still tweaking and demo trading various ideas, but I also use LRC.
Every LRC indicator draws the channels differently, but we have other tools as well.
I am posting a 4hr cable chart. I am using MTF version of megatrend, LRC indicator, Barrys support and resistance with laguerre and reversal dots.
It looks to me like cable is getting ready for another fall to start next week I've tried to explain in the chart..Hi Lepricus,
Do you mind posting your LRC indicator as posted in your charts? Thanks!
Can you please post the MTF Mega and LRC. I've never found a decent LRC for MT4. You're already on an H4. Is your MTF on daily?
Ya the MTF is on the daily. I'll post the indicators below. I pulled them both from forex-tsd.
Slope direction line is exactly like mega trend if you set it to 144 period and method 3