juicyt Posted January 23, 2011 Author Report Share Posted January 23, 2011 Damn... you guys are good. Not hard to see why this forum has become so popular. Juicyt Quote Link to comment Share on other sites More sharing options...
derox Posted January 23, 2011 Report Share Posted January 23, 2011 (edited) i wrote an ea short time ago. i use iHigh and iLow for different timeframes to get the entrys filtered by moving averages on higher timeframe. this method is standard trading lesson. my problem was / is to set pending orders. i try to set a buy order some pips higher as iHigh and a sell some pips smaller as iHigh or vice versa for iLow. i thinked about to set the pending orders with atr filter. most of the time if trend on higher tf goes up price will bounce back from resitence line for some pips and will try again (most of the time successfully broken the resistence with big jumps.) my idea was to set the take profit for the sell order on resistence lower as the tp for buy. and sl must be the entry for buy (atr). Edited January 23, 2011 by derox Quote Link to comment Share on other sites More sharing options...
Freddie Posted January 24, 2011 Report Share Posted January 24, 2011 Jeff Wilde also sends out a set of lines weekly. He also sometimes shows how they worked in the previous week. It is a free service. I have copied them here: Key Market Reversal Levels for Jan 24 - Jan 28 GBP/USD EUR/USD USD/JPY GBP/JPY EUR/JPY Turning Point Down #3 1.6291 1.4087 85.72 135.07 120.00 Turning Point Down #2 1.6162 1.3919 84.50 134.25 117.50 Turning Point Down #1 1.6056 1.3750 83.37 133.08 115.00 Turning Point Up #1 1.5825 1.3472 81.88 130.00 110.00 Turning Point Up #2 1.5676 1.3250 80.93 129.37 107.44 Turning Point Up #3 1.5500 1.3058 80.22 127.50 105.00 Intermediate Trend Direction Up Up Up Up Up Major Trend Direction Up Up Down Down Down Usual disclaimers!! Nothing in it for me!! Simply for your information. Quote Link to comment Share on other sites More sharing options...
Diesel 10 Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) Thanks Freddy. This Support Resistance Lines w alert indicator quite similar to ChinBreakoutAlert Lines shared elsewhere on Indo. However the chin can in addition to horizontal breakout lines, be moved to create diagonal trend lines with alert. Just thought I'd mention it in case anyone also needs this capability... Ok, thanks Soundfx, that makes sense! also on a side note, I just received an email Apart the interest of learning about MQL4 coding, I post it here, because the useful indicator he is talking about might be used in strategies like the one discussed here. For lasy people who don't want to "type" the code, here it is: http://www.multiupload.com/VQ6PFE1F61[/Code] Edited January 24, 2011 by Diesel 10 freddy 1 Quote Link to comment Share on other sites More sharing options...
Freddie Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) Just downloaded the latest...and last. Formatted as best I could FMRL EURUSD GBPUSD EURJPY USDJPY USDCHF USDCAD AUDUSD GBPJPY Monthly(+4) 1.40752 1.63423 114.358 85.676 1.03225 1.0421 1.1213 136.34 Monthly(+3) 1.39268 1.61854 113.097 84.700 1.01128 1.0326 1.1002 134.26 Monthly(+2) 1.36794 1.59239 110.996 83.074 0.97632 1.0168 1.0652 130.80 Monthly(+1) 1.35310 1.57670 109.735 82.099 0.95534 1.0073 1.0441 128.72 Monthly(0) 1.33826 1.56101 108.474 81.123 0.93437 0.9978 1.0231 126.64 Monthly(-1) 1.32342 1.54532 107.213 80.147 0.91340 0.9883 1.0021 124.56 Monthly(-2) 1.30858 1.52963 105.952 79.172 0.89242 0.9788 0.9810 122.48 Monthly(-3) 1.28384 1.50348 103.851 77.546 0.85746 0.9630 0.9460 119.02 Monthly(-4) 1.26900 1.48779 102.590 76.570 0.83649 0.9535 0.9249 116.94 Weekly(+4) 1.41260 1.62806 116.531 84.301 0.97948 1.0185 1.0198 134.56 Weekly(+3) 1.40147 1.62191 115.661 83.951 0.97491 1.0132 1.0131 134.05 Weekly(+2) 1.38291 1.61167 114.212 83.368 0.96728 1.0043 1.0020 133.21 Weekly(+1) 1.37178 1.60552 113.342 83.018 0.96271 0.9990 0.9953 132.70 Weekly(0) 1.36065 1.59937 112.472 82.668 0.95813 0.9937 0.9886 132.20 Weekly(-1) 1.34952 1.59322 111.602 82.318 0.95355 0.9884 0.9819 131.70 Weekly(-2) 1.33839 1.58707 110.732 81.968 0.94898 0.9831 0.9752 131.19 Weekly(-3) 1.31983 1.57683 109.283 81.385 0.94135 0.9742 0.9641 130.35 Weekly(-4) 1.30870 1.57068 108.413 81.035 0.93678 0.9689 0.9574 129.84 Edited January 24, 2011 by Freddie Formatting freddy 1 Quote Link to comment Share on other sites More sharing options...
freddy Posted January 24, 2011 Report Share Posted January 24, 2011 Just downloaded the latest...and last. Formatted as best I could FMRL EURUSD GBPUSD EURJPY USDJPY USDCHF USDCAD AUDUSD GBPJPY Monthly(+4) 1.40752 1.63423 114.358 85.676 1.03225 1.0421 1.1213 136.34 Monthly(+3) 1.39268 1.61854 113.097 84.700 1.01128 1.0326 1.1002 134.26 Monthly(+2) 1.36794 1.59239 110.996 83.074 0.97632 1.0168 1.0652 130.80 Monthly(+1) 1.35310 1.57670 109.735 82.099 0.95534 1.0073 1.0441 128.72 Monthly(0) 1.33826 1.56101 108.474 81.123 0.93437 0.9978 1.0231 126.64 Monthly(-1) 1.32342 1.54532 107.213 80.147 0.91340 0.9883 1.0021 124.56 Monthly(-2) 1.30858 1.52963 105.952 79.172 0.89242 0.9788 0.9810 122.48 Monthly(-3) 1.28384 1.50348 103.851 77.546 0.85746 0.9630 0.9460 119.02 Monthly(-4) 1.26900 1.48779 102.590 76.570 0.83649 0.9535 0.9249 116.94 Weekly(+4) 1.41260 1.62806 116.531 84.301 0.97948 1.0185 1.0198 134.56 Weekly(+3) 1.40147 1.62191 115.661 83.951 0.97491 1.0132 1.0131 134.05 Weekly(+2) 1.38291 1.61167 114.212 83.368 0.96728 1.0043 1.0020 133.21 Weekly(+1) 1.37178 1.60552 113.342 83.018 0.96271 0.9990 0.9953 132.70 Weekly(0) 1.36065 1.59937 112.472 82.668 0.95813 0.9937 0.9886 132.20 Weekly(-1) 1.34952 1.59322 111.602 82.318 0.95355 0.9884 0.9819 131.70 Weekly(-2) 1.33839 1.58707 110.732 81.968 0.94898 0.9831 0.9752 131.19 Weekly(-3) 1.31983 1.57683 109.283 81.385 0.94135 0.9742 0.9641 130.35 Weekly(-4) 1.30870 1.57068 108.413 81.035 0.93678 0.9689 0.9574 129.84 All clear to me Monsieur IE! No need to report it to the mods! Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 24, 2011 Report Share Posted January 24, 2011 soundfx did u check the new level with ur calculation? is it almost same? Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 24, 2011 Report Share Posted January 24, 2011 Weekly(0) 1.36065 according to FRML but soundfx foruma it comes as 1.36392 anyone have any idea? Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 24, 2011 Report Share Posted January 24, 2011 about opening time i guess FXpro use GMT 23:00 and they dont have no sunday candle.. so we can get the data from there but i have done calcualtion based on what soundfx said but .. it seems not matching.. Quote Link to comment Share on other sites More sharing options...
soundfx Posted January 24, 2011 Report Share Posted January 24, 2011 Hi sillykiddo, The monthly numbers will remain the same all through January. The weekly 0 numbers require no calculation they're just the open prices of the current week. I've used Alpari UK for my calculations, most pairs are within a few pips however, there appears to be something missing from the calculation for EUR pairs in particular which is strange. Here's the spreadsheet I used to calculate the levels: http://www.multiupload.com/YKEAAS7SAY The first levels are the published ones, and the next chunk are my calculated ones. I've followed these with the difference in pips between them. As you can see, both EURUSD and EURJPY end up with differences of more than 30 pips at level 4, whereas all the others are just a couple of pips. Multiplying the EUR pairs by the constant 0.298 rather than 0.274 brings down the pips difference for these pairs to an acceptable level, so this would need to be changed in the indicator calculations. For us to be 100% sure we can rely on these simple constant multipliers, we'd need to see examples of the levels going into February too. gringoh, sillykiddo, grooter and 1 other 4 Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 24, 2011 Report Share Posted January 24, 2011 great work soundfx i'm working on indicator i'll start with weekly first once its done monthly should be easy .. if u can dig something more please do let me know. i check GBPUSD it seems fines EURO is where pip difference is big have you checked the latest number ? is this excel of yours is latest number or the number from previous week? thanks Quote Link to comment Share on other sites More sharing options...
freddy Posted January 24, 2011 Report Share Posted January 24, 2011 If you browse your charts down to one hour, here are the numbers found on FXPro broker. http://img203.imageshack.us/img203/4782/monthweek.jpg So for Weekly, they use the close of midnight H1. (That I understand) for monthly, they used the open of the 2PM H1. Why 2PM? I cannot figure, but it was the last day of December!? Quote Link to comment Share on other sites More sharing options...
soundfx Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) Hi sillykiddo, I've checked my calculations in more detail and I think we're close but still missing a piece of the jigsaw. My spreadsheet contains the numbers for this week. We can change constants no problem, however I think that at some point we're going to come unstuck because it appears that what we're using as constants are slow moving variables - which I can't quite get a handle on at the moment. The constant 1.618 I believe is cast in stone for the level 3 and level -3. Looking at the other numbers, I've been able to get the calculation for all pairs to within 1 pip by using the following constants: EURUSD 0.296 GBPUSD 0.275 EURJPY 0.302 USDJPY 0.278 USDCHF 0.278 USDCAD 0.278 AUDUSD 0.276 GBPJPY 0.280 Initially I suspected that these values may be derived from the High-Low difference. Here are the High/Low differences in pips: EURUSD 380.3 GBPUSD 225.3 EURJPY 291.2 USDJPY 127.1 USDCHF 166.7 USDCAD 193.2 AUDUSD 244.6 GBPJPY 182.5 Both of the EUR pairs have the largest differences which ties in with using a larger constant, however note that the 3rd largest is AUDUSD which requires a much smaller constant. Hence, these numbers must be calculated from elsewhere, which I'll need to think about. Edited January 24, 2011 by soundfx Quote Link to comment Share on other sites More sharing options...
freddy Posted January 24, 2011 Report Share Posted January 24, 2011 Hi sillykiddo, ...............................; Hence, these numbers must be calculated from elsewhere, which I'll need to think about. Perhaps ATR for different period of time? Quote Link to comment Share on other sites More sharing options...
juicyt Posted January 25, 2011 Author Report Share Posted January 25, 2011 "The Weekly USDCAD numbers posted before midnight GMT were wrong. Please replace them with the correct numbers which are on the page now. This was caused by an error in the broker data we use. We apologise for this and hope it has not caused you any problem" Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 25, 2011 Report Share Posted January 25, 2011 soundfx great work.. i'll make framework of indicator untill you guys solve the puzzle ... according to soundfx i put the constant variable in user settings so user can change it.. we are close :) Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 25, 2011 Report Share Posted January 25, 2011 I think what freedy says it cud be (high-low)-atr? what do u think soundfx btw soundfx do u have skype may be we can add each other Quote Link to comment Share on other sites More sharing options...
soundfx Posted January 25, 2011 Report Share Posted January 25, 2011 (edited) juicyt - my spreadsheet contains the corrected levels issued with that message. sillykiddo, Because of the wildly differing values for EUR pairs using the basic constant of 0.274 (which seemed to work fine for the previous week) and the fact that by tweaking this constant slightly for each pair we can get very accurate lines, I think there's something we're missing but I'm still not sure what this is. ATR is time consuming to check. What period do we use for the ATR for example ? i.e. how many weeks/months do we need to go back to get an average, and then does that average make any sense in deriving the lines ? From lowest to highest, the multipliers of "High-Low" which give the closest results are: GBPUSD 0.275 AUDUSD 0.276 USDJPY 0.278 USDCHF 0.278 USDCAD 0.278 GBPJPY 0.280 EURUSD 0.296 EURJPY 0.302 However, there's no longer any direct correlation with the High-Low any more when the High-Low of each pair is put into ascending sequence. The puzzle is that we need to find something in the OHLC of weekly data (perhaps going back more than 1 bar as for ATR) which will give a sequence similar to the one above. I'm not sure now that this is going to be as easy as it originally seemed. Edited January 25, 2011 by soundfx Quote Link to comment Share on other sites More sharing options...
juicyt Posted January 25, 2011 Author Report Share Posted January 25, 2011 (edited) I must be honest, because the person posts these openly, I didn't think these would be very easy to nut out. Infact, well out of my reach. I guess if others are reading and something dawns on them to try, then hopefully they do. Or maybe if we can get a base indicator made, then making some slight alterations until it is correct can be made easily. For the work involved, I hope is true. I wish I had someone else to ask for help, but in saying that, there are some very smart people on this forum (yes that also includes you soundfx) so I think given a little time, it will get worked out. Juicyt I guess if most or even some pairs are consistantly correct, we could start with those and begin to use them. So we miss out on some pairs to trade, no big deal. It has to be consistant though. Edited January 25, 2011 by juicyt Quote Link to comment Share on other sites More sharing options...
leledc Posted January 25, 2011 Report Share Posted January 25, 2011 (edited) Indicator ................. Edited November 24, 2013 by leledc ⭐ traderdxb, domonkos, pardy and 15 others 18 Quote Link to comment Share on other sites More sharing options...
sillykiddo Posted January 26, 2011 Report Share Posted January 26, 2011 soundfx we dont need exact numbers like them as long as its within few pips its good enouf. If this constant varible is ok for this week data why not use that? Quote Link to comment Share on other sites More sharing options...
juicyt Posted January 26, 2011 Author Report Share Posted January 26, 2011 Good work leledc on the indicator. Price respecting the lines extremely well on EurGbp, UsdChf, UsdGbp and possibly more (other than the majors, that I am yet to look at). Interbankfx charts by the way. Quote Link to comment Share on other sites More sharing options...
leledc Posted January 26, 2011 Report Share Posted January 26, 2011 (edited) ............... Edited November 24, 2013 by leledc Quote Link to comment Share on other sites More sharing options...
altoronto Posted January 27, 2011 Report Share Posted January 27, 2011 Maybe this can help ... http://piv0ttrading.net/pivot/pivot/gann.html rpasupathy 1 Quote Link to comment Share on other sites More sharing options...
rpasupathy Posted January 27, 2011 Report Share Posted January 27, 2011 HI Altoronto, http://piv0ttrading.net/pivot/pivot/gann.html This is an excellent one. The levels work great and respect it. Can someone please make an indicator for forex trading it will be great !! Thanks Quote Link to comment Share on other sites More sharing options...
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