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Elemental Trader


newbie111

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heres the system very simply...

 

when the red box and pattern occur - measure from a resistance point higher than the box for a short trade to point B which is your target (middle point of pattern) ....this is your range

 

divide your range by 2

 

now add that number to your target - your first sell trade must be above this number to achieve a 1:1 risk reward ratio

 

they recommend scaling in to the trade at higher values before your stop loss to achieve a better overall average price but still using the same stop loss.

 

 

heres an example: Bearish Butterfly spotted.

 

Top of PRZ zone = 1.5000

Nearest Resistance above PRZ (or you can add some number of pips - it just needs to be above the zone) = 1.5025

Target point B = 1.4900

 

(SL) 1.5025 - (TARGET) 1.4900 = 125 pips

125/2 = 62.5

 

so your first entry must be >= 1.49625 to achieve a 1:1 risk reward

 

if the price moves against you then you can look for other opportunities in the prz zone to place sell orders.

 

 

I hope this helps. They offer the tradefinder for $350 per month which I can see its usefullness if you want to solely trade this method - if you buy the system they offer it for $99 per month for life after the first year. The first year is included in the price. I think you would be better off paying a coder to create one for you at a much reduced cost.

 

thats the only thing worth 2 cents in what they are offering in my opinion

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Just open the indicator in MetaEditor, click on Edit -> Find -> type in LawnGreen (color of the green line), it will take you to the code

 

ObjectSet(nameObj, OBJPROP_BACK, false);

ObjectSet(nameObj, OBJPROP_RAY, true);

ObjectSet(nameObj, OBJPROP_COLOR, LawnGreen);

ObjectSet(nameObj, OBJPROP_STYLE, STYLE_DASH);

 

Then just change to LawnGreen color to your background color. If you don't see the code yet, click on Find Next button until you find it.

Hope this help.

 

Thanks the green colour is gone.

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i can change some coding around but I cant do a big project like that. I am still learning.

 

Go into your settings and set vectorofamirrortrend = 0

also you can set equilibrium=false

 

that will clear up the chart a little more

 

Thanks for this advice. There are so many parameters in the indicator and not knowing what each means I am not keen to change anything without some advice.

 

Are you able to set an alert like email alert when the pattern first forms? I guess it is really when the PZR first appears?

 

This would be very useful.

 

Withmuch appreciation.

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Thanks for this advice. There are so many parameters in the indicator and not knowing what each means I am not keen to change anything without some advice.

 

Are you able to set an alert like email alert when the pattern first forms? I guess it is really when the PZR first appears?

 

This would be very useful.

 

Withmuch appreciation.

 

 

 

scroll towards the bottom of the settings

 

extalert = true

extplayalert = true

 

there is an email option there as well.

 

you wont hurt anything by experimenting - just change an input and see what it does - if you mess it up remove the indicator and attach again :)

 

if you want something that is a better indicator in my opinion head over to tradingarsenal.com and pick up korharmonics. It shows many other patterns such as head and shoulders / triangle formations/ batman /3drives /5-0/ 121. Basically any chart pattern you would ever need. Of course you can disable or enable the ones you dont want to use plus it comes with an emerging pattern identifier, alert, email , etc. Very nice indicator. Best of all its free

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scroll towards the bottom of the settings

 

extalert = true

extplayalert = true

 

there is an email option there as well.

 

 

you wont hurt anything by experimenting - just change an input and see what it does - if you mess it up remove the indicator and attach again :)

 

if you want something that is a better indicator in my opinion head over to tradingarsenal.com and pick up korharmonics. It shows many other patterns such as head and shoulders / triangle formations/ batman /3drives /5-0/ 121. Basically any chart pattern you would ever need. Of course you can disable or enable the ones you dont want to use plus it comes with an emerging pattern identifier, alert, email , etc. Very nice indicator. Best of all its free

 

Thanks for your help. Will read A-Z with the korharmonic site.

 

The latest korharmonic indicator is only test till 28.2.2011.

 

What happens after that?

 

Does one get the previous version v6.7.9 with no expiry date?

 

Where is the free version with unlimited use?

 

Do you have it? If possible please share.

 

The monitor looks good. (like trend finder information)

 

With much appreciation.

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scroll towards the bottom of the settings

 

extalert = true

extplayalert = true

 

there is an email option there as well.

 

you wont hurt anything by experimenting - just change an input and see what it does - if you mess it up remove the indicator and attach again :)

 

if you want something that is a better indicator in my opinion head over to tradingarsenal.com and pick up korharmonics. It shows many other patterns such as head and shoulders / triangle formations/ batman /3drives /5-0/ 121. Basically any chart pattern you would ever need. Of course you can disable or enable the ones you dont want to use plus it comes with an emerging pattern identifier, alert, email , etc. Very nice indicator. Best of all its free

 

Hello After setting alerts on the comments appear in a different language Can someone ammend such that alerts are in English Thanks

Edited by vikram88
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Anyone testing alerts on ZUP I am getting Russian alerts on all Versions ie ZUP 92C And C2

 

92c gives me perfect english alerts. Even if for some reason its not the russian part of the alert doesnt mean anything other than "there was a pattern on" - you can still read the currency and timeframe. so even after the alert is given you still have to go to the chart whether its in english or russian.

 

Try removing all zup indicators from your indicators folder and only putting in 92c. Then compile the indicator again and see if that helps. Sometimes Mt4 can be a little quirky

 

here is my screenshot showing the english alerts using the same 92c_2 posted in #66

hxxp://www.multiupload.com/QL56PA5AEV

Edited by jdsim1
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As long as this thread has been up and no one so far has shared it's Videos, content, etc. I have to conclude that ElementalTrader never sold any to anyone. It's kinda hard to believe that, as Harmonic trading is the lastest craz that traders are moving toward or let's refer to it as evolutution in Forex Trading. I do not like to see that they've taken most of it from ZUP and cloned it, however I would like to see their videos.

If you bought it or got a copy of it, PLEASE SHARE IT!!!

Thanks in Advance...

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As long as this thread has been up and no one so far has shared it's Videos, content, etc. I have to conclude that ElementalTrader never sold any to anyone. It's kinda hard to believe that, as Harmonic trading is the lastest craz that traders are moving toward or let's refer to it as evolutution in Forex Trading. I do not like to see that they've taken most of it from ZUP and cloned it, however I would like to see their videos.

If you bought it or got a copy of it, PLEASE SHARE IT!!!

Thanks in Advance...

 

It is the trendfinder dashboard which is the draw card. All the rest one can find on the intenet free of charge.

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