finimej Posted August 5, 2009 Report Share Posted August 5, 2009 1) first I use the cluster indicator to select with pair that I shall trade with. 2) then I use this fishnet chart to trade the individual currency. Rule: It is not perfect, therefore I start this thread and would like to discuss with you. Basically, it are all the MA200 lines that forms a fishnet. Support and resistant is at where the MA lines getting together and become very thick area. The it is support and resistant zone. I am adding one more indicator, TD sequential to see the maturaty grade of one trend. If the trend is counted to bar 2 or 3, then you know it is not matured yet. If the bar is counted to nr 7, 9 or 13, then it is matured and ready to turn. I do have Mq4 code for this indi. Good: + It can be applied to all time frame, from M1 to D1, W1, and M1. + It hardly miss any important support and resistant, and you can anticipant where the currency goes. Bad - can not turn it into EA, you have to use your eyes to see the support and resistant. The templates and indicator can be download at http://www.formulatrader.com/download/fishnet.zip Picture 1. you see the price today, EURUSD M5, it moves and turned. But why it turned just there it turned? Why? IF you want to see enlarged picture, click on the very left up corner of the picture. The MACD and stochastic just used to see the divergence between the indicator and price, to extra confirm the trend is turned. http://www.formulatrader.com/download/bild/fishnet0.gif Picture 2. then I put the templates on. IF you want to see enlarged picture, click on the very left up corner of the picture or you can copy this link to brower and see the picture in full scale.http://www.formulatrader.com/download/fishnet1.gif first when the 2 back-to-back candle large and almost the same long, then it said the trend is turn down now. Ok, I sell, then where shall I take profits? I know EURUSD M5 is going to have support at the fishnet bottom there, the marked red circle. I took profits, and buy the EURUSD M5 at the red circle, because I know this is very strong support, many MA lines convengent and meet at here, it is very thick support ZONE. I estimated it will go up. then my take profits target is the fishnet roof, the yellow circle. And my stoploss is just below the thick support zone, the red circle. http://www.formulatrader.com/download/bild/fishnet1.gif ---repeat--- and happy scalping---- and you can use this on the daily and weekly chart, then it is not scalping, become position trading. I actually used this today on EURUSD M1 for trading, because the EURUSD H1 and H4 is very flat for daily right now. Picture 3. see the EURUSD Daily. IF you want to see enlarged picture, click on the very left up corner of the picture or you can copy this link to brower and see the picture in full scale.http://www.formulatrader.com/download/fishnet2.gif It has come to the fishnet roof, (sometimes a bit overshoot, lite over the roof, why, you can use the bollingarband to get the resistant, if the price is overshoot over the fishnet-roof). So it is time to watch the EURUSD to get turn down, and to confirm the trend has been turned with stochastic and MACD. If the EURUSD turned, then you see the thick area where the MA lines meet, that's are the support zone. EURUSD D1 will first turned down, and bounce up from this support lines, and then continues down. This makes waves. you can then count the wave on its way down. http://www.formulatrader.com/download/bild/fishnet2.gif Picture 4. If the EURUSD daily turns down, it then will go this way. IF you want to see enlarged picture, click on the very left up corner of the picture or you can copy this link to brower and see the picture in full scale.http://www.formulatrader.com/download/fishnet3.gif http://www.formulatrader.com/download/bild/fishnet3.gif Quote Link to comment Share on other sites More sharing options...
finimej Posted August 6, 2009 Author Report Share Posted August 6, 2009 Re: Fishnet dynamic Support and resistant trading system What about if the EURUSD does not turn down and continuely up, where is the resistant then? There is no more resistant after the currency has come over the fishnet roof. You have use the horizontal line to search the historical resistance in the past data. Quote Link to comment Share on other sites More sharing options...
popisdead Posted August 6, 2009 Report Share Posted August 6, 2009 Re: Fishnet dynamic Support and resistant trading system What about if the EURUSD does not turn down and continuely up, where is the resistant then? There is no more resistant after the currency has come over the fishnet roof. You have use the horizontal line to search the historical resistance in the past data. my idea..dont take the long.. wait until the price inside the net again..take a short post..and use previous hi as SL.. what do u think? Quote Link to comment Share on other sites More sharing options...
ppc123 Posted August 6, 2009 Report Share Posted August 6, 2009 Re: Fishnet dynamic Support and resistant trading system I'd say your discovery is inspiring... Unlike that Rainbow MAs concept, you're observing supports and resistances by the Fishnet dynamics. Quote Link to comment Share on other sites More sharing options...
finimej Posted August 6, 2009 Author Report Share Posted August 6, 2009 Re: Fishnet dynamic Support and resistant trading system Thanks for the kudos. The idear actually is used by swedish trade people here for very long time. I just use it. MA200 is the average price, means people judge it is fair. If many MA lines meet there and become very thick line /zone, it actually means that many calculation of fair price is in the zone. Then if the price is far away from the zone, then market will correct it, soon or later, it will come to fair price zone. This is what I think. Quote Link to comment Share on other sites More sharing options...
finimej Posted August 14, 2009 Author Report Share Posted August 14, 2009 Re: Fishnet dynamic Support and resistant trading system This can be used on any timeframe. You see the picture 4 EURUSD daily predication has been played out quite well. Now lets check out the EURUSD H4 timeframe, you see the support and resistant zone /line is very accurate. When it is turned down, then you know where it goes where is your takeprofits and stoploss. Picture 5. EURUSD H4 S/R zone and forecast. IF you want to see enlarged picture, click on the very left up corner of the picture or you can copy this link to browser and see the picture in full scale. http://www.formulatrader.com/download/bild/fishnet4.gif Quote Link to comment Share on other sites More sharing options...
Greenscaile Posted September 19, 2009 Report Share Posted September 19, 2009 Re: Fishnet dynamic Support and resistant trading system Hi Finimej, When I load one of the templates from the zip file I can see a load of numbers and some arrowheads. If you have time could you let us know how they are used please. Quote Link to comment Share on other sites More sharing options...
Greenscaile Posted September 19, 2009 Report Share Posted September 19, 2009 Re: Fishnet dynamic Support and resistant trading system Sorry Finimej, I just re-read your post and the info is there in the first post! I must learn to read slower.... :) Quote Link to comment Share on other sites More sharing options...
sustainablegrowth Posted September 22, 2009 Report Share Posted September 22, 2009 Re: Fishnet dynamic Support and resistant trading system thanks i thinks its potensial in using with other indikator ^^ Quote Link to comment Share on other sites More sharing options...
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