MQ4 Code Works

[hayseed]

The process,

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hey tc,,,,,, the process is in the counts...... not much more.....

1) in the trade pictured above, did you just set a PT at the bottom of the ZZ leg? Or was there a trigger? I know this isn’t the most pressing consideration, but I’m curious.

really have no clue as to why the trades were closed there..... but take a close look at that picture..... had i deleted the remaining 3 limit orders , it would appear that i sold the top dead on...... which was not the case..... i simply placed selllimits covering the prior leg.....

i do have expert advisors that will close all orders once a new zigzag leg prints with certain other conditions, but it was not used..... also have expert advisors that will close all orders once a particular price , line, object or total $ profit is hit..... but they were not used either.....

other than atr, i don't give much thought to exits .....
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2) do you have a preference between set PT’s for each trade vs a common PT for a series of trades? For example, “Next Weeks Trades” I believe you mentioned setting 50 pips PT per trade. However, the trade above show a common target that closed all trades. Do you choose one over the other, and do you see one as more superior? Also, I do understand the US FIFO rules. I understand that may be a factor, but I still would love to know.

for next weeks trades, the 50 pips was used because over the course of a week that's a very realistic target......

living under nfa's rules, my preference has to be a set profit target per trade...... another factor for that choice is we are very rural...... any sort of high speed internet will never be..... we had dialup, but that service was discontinued about 18 months ago..... there is no way to maintain the platform connection needed for ea's.....

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4) how do you analyze and asses the different zz lengths between 75,12, and 5? I’ve seen you use and mention all, but I’d love to know what’s going through your kind when you’re looking at them. When you are going to risk capital with a grid of limits, are hedging your bets on any of the three, or, for example, is it the 12 that you prefer?

the 75 is nothing more than a deal breaker..... once it prints, rarely will i pursue that direction further..... and if i do, those trades have a high chance of failure..... i never hedge bets...... the 12 for some reason is my choice...... using the 5 requires slicing the cake to thin......

i'll check your indicator in a few hours....

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just keep in mind, the sum of the parts can be greater than the whole......h

 

[hayseed]

example of how to code a stripped down multi time frame version of an individual indicator for at a glance connivence.

while all 4 here are the 100/200 macd, almost any indicator or group of indicators can be used.....

easy edit...... keep it simple.....h

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[TradeChaser]

Hayseed,

Did you ever get a moment to review the zigzag forecaster that built? It’s very much built on your laws of averages but i am sure it could use added elements that I’m not thinking about.

 

[hayseed]

Hayseed,

Did you ever get a moment to review the zigzag forecaster that built? It’s very much built on your laws of averages but i am sure it could use added elements that I’m not thinking about.

yes i did......there is a include missing but it did not interfere ..... looks good.....

now put into practice.......

look at the gbpchf on all timeframes....... just the charts ........ forget completely its the gbpchf.....

what do you think will happen next..... in terms of pips and time.....h

 

[TradeChaser]

I would say over the next day (due to the 1H chart), it would be completely natural to see a bullish retracement due to the extension we are currently seeing.

However, with regard the the major TF (W,D,H4) I would say you could easily see 200 pips to the downside, perhaps in the next four days.

Post automatically merged: Jun 13, 2022

Am I close to your thoughts? And, regardless, do you mind telling me how far away/close I am to your thoughts and why?

 

[TradeChaser]

Curious where you see the AUDJPY going over the next... well, I guess year at least lol... Looks like the weekly is hitting 100% average length on the 75zz... and its almost hitting it at the 100% average duration too. Not that it means much, but it is interesting to see.

On the Daily, it appears that zz75 is already past its average and would warrant a sell on a signal... do you agree?

Looking at H4 alone, looks like one could argue that you'd see up to 500 pips to the downside over the next 16 or so days.

 

[hayseed]

Am I close to your thoughts? And, regardless, do you mind telling me how far away/close I am to your thoughts and why?

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agree..... and if it were any other pair than the gbpchf it would be probably on my short list today......

after this weeks rate decision i might consider it..... chance of short squeeze has me queasy....... a nice looking chart though.....
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all the yen crosses are so strong that i can't remember trading any of them the past couple weeks...... long or short..... the weekly charts say odds favor the uptrend..... they have been strong too long for me to buy and no good signal for me to short.....

the usd might be the best game in town right now..... other than the eurcad , euraud and audcad everything else of mine is a usd trade.....

looking at the 1440, 10080 and 43200 charts, june and july might be some real whoppers......

course it will probably be me that gets whopped.....h

 

[hayseed]

hey wonkytonky...... here ya go...... thought i had posted this, guess not...... thanks for reminding me.....

my memory plays tricks sometimes....h
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[hayseed]

i'll expand on this later......

note the usdchf 30 and the 1440.....h
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[hayseed]

i'll expand on this later......

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guess i never hit send on that friday.....

before writing a ea that actually places trades , i tend first write a dashboard where i can visualize every thing along with a few data mining type scripts.....

the example dashboard above which is made from a script shows the same 5 indicators on each time frame......

looking only at the usdchf for now,

the first wingding is the zigzag,

the usdchf zigzag is down on the first 15 and 30 timeframes and up on all others...... denoted by the red arrow.....
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the second wingding is the qqe,,,,,,

the qqe is above it's signal line on the 240 and monthly ........ denoted by lime arrow.....

and has just crossed above on the 1440.... denoted by the lime box......
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the third wingding is the ljsig......

the ljsig is just a comfort indicator for me.......

we have a ljsig buy signal on the 1440...... denoted by lime arrow.....
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the forth wingding is the psar.......

price was below the psar on both the 30 and 1440...... denoted by red arrow....... the psars distance to price is included in the wingdings name, so by holding the mouse curser over the 1440 arrow i can quickly see it's about 50 pips away...... and closing fast......
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the 5th wingding is your indicator of choice, the ao.......

the ao had a sell signal on the 30 and a buy on the 1440....... denoted by the red and lime boxes......
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so think about all that..... and anything else in that dashboard but do not look at the usdchf chart itself....... only the dashboard....

what would you do.....h
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[hayseed]

what would you do.....h
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dang..... kinda mess things up here...... ignore my trades...... wish i had not used a chart with them on there.....

it's not a trick question..... you'll understand that after you answer......

what would you do.....h
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[TradeChaser]

I see one of two ways to read this, and I say this because I feel I over analyze... I believe the proper way to read this is a buy - and I explain why below. but first, to counter the logic I will share, I would second guess myself purely from making these windings say whatever I want them to. For example, the bearish impulse on the M15 and M30 shows that the med/long-term weakness of the 10080 and 1440 will persist and turn bearish. Again, this might seem dumb, but this is why I freeze up when trying to read my dashboards.

Now, as far as your question directly:

First, and I will admit I looked at your chart... also, what is funny, is I am typing this literally as you posted #131. I am hoping you will slap me silly as to why I see both so I can start seeing the right things.

First the Buy:

1. ZigZag - clearly up pressure, and the M15/M30 show the Zag to the H1 and above Zigs... a retrace into strength
   1. I am thinking too much, because I recall you saying too much agreement in ZZ is a warning... Not sure if you consider H1 and above too much.
2. QQE - Short term weakness, Weekly is bearish. Perhaps this would be reason to be cautious. The one thing that would alleviate the worry would be the fresh sign on the daily... unless its an immediate turnaround, even if the weekly were to take it downward further, you should get something out of the daily signal.
3. lsig - I can admit I am not sure how to read... the only thing I would assume is that a fresh signal on the daily, rather than a blank, gives confidence that some momentum is left in the upward impulse
4. PSAR - I am torn here as well. Monthly is up, but I believe, and I could be wrong, the 43200 seems to be too far removed from the H1 and below. However, the Medium strength in the H1 and H4 are either a bullish retrace into a bearish trend or the bullish impulse that will reverse it... gives credence to the Long trade, even if it is considered a gamble.
5. AO - again, on the daily, similar to the QQE, the fresh signal, if you believe in the signal, should give you some confidence in a further move up, to some degree

 

[hayseed]

I see one of two ways to read this, and I say this because I feel I over analyze... I believe the proper way to read this is a buy -

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lol..... i'm not sure if over analyze is a definable term but you sure appear to spend more time on it than me......

so, usdchf buy it is.......

now, looking only at the dashboard, what, if anything, would you do in regards to the gbpcad......

remember, the 5th wingding is the ao, where a arrow and color indicates last bars direction and a square indicates a color coordinated 0 line cross.....

what would you do.... it's not a trick question.....

and keep in mind i'm only a hayseed..... so just buy or sell is enough...... lol.......h


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[TradeChaser]

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lol..... i'm not sure if over analyze is a definable term but you sure appear to spend more time on it than me......

so, usdchf buy it is.......

now, looking only at the dashboard, what, if anything, would you do in regards to the gbpcad......

remember, the 5th wingding is the ao, where a arrow and color indicates last bars direction and a square indicates a color coordinated 0 line cross.....

what would you do.... it's not a trick question.....

and keep in mind i'm only a hayseed..... so just buy or sell is enough...... lol.......h


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I would be inclined to sell.

 

[TradeChaser]

I would be inclined to sell.

To expand, purely because the 1440, 10080, and 43200 pressure

 

[TradeChaser]

If you don’t mind, could you share what you see as well? As in what you see, and how simply or deeply you interpret it?

Maybe that will help me become more like a hayseed!

 

[hayseed]

I would be inclined to sell.

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i have not forgotten this...... just way to busy at work to reply in the manner i need to...... both your answers agreed with my real live trades, all which have made money.....

but don't lose track here, this is not about right or wrong choices making money..... i just needed your answers in advance.....

this whole recent stream of posts is in regards to my saying and trying to explain, the actual entry signal is almost immaterial to me.....
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the ljsig is on almost every dashboard or system i use...... it's just one of the many things silent in the background.....

when i have ljsig buy signals on the higher timeframes, unless i get carried away, almost all lower tf signals will work out......

the difficult part is knowing when to drag up...... their is such a thing as confirmational bias......

leave the party while you can still drive or suffer the consequences......h

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[hayseed]

If you don’t mind, could you share what you see as well? As in what you see, and how simply or deeply you interpret it?

Maybe that will help me become more like a hayseed!

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lol..... people poke fun at us.....

in atlanta they had color coordinated and timed signs for pedestrians to cross the street..... so by color you knew whether to walk or not and the count told you how much time you had left......

it might be called 'flying by the seat of your pants', but thats my take on trading.......

metatrader does some math..... gives me a color and count.... that's about the extent of my interpretation..
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occasionally if enough people talk about something it will become to be for no other reason than they began talk about it......

just sold the eurusd...... target 0.999999..... i will leave that party first.... with just enough money to buy 100 pounds of corn for my deer feeders....

that's how a hayseed thinks......h

 

[TradeChaser]

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i have not forgotten this...... just way to busy at work to reply in the manner i need to...... both your answers agreed with my real live trades, all which have made money.....

but don't lose track here, this is not about right or wrong choices making money..... i just needed your answers in advance.....

this whole recent stream of posts is in regards to my saying and trying to explain, the actual entry signal is almost immaterial to me.....
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the ljsig is on almost every dashboard or system i use...... it's just one of the many things silent in the background.....

when i have ljsig buy signals on the higher timeframes, unless i get carried away, almost all lower tf signals will work out......

the difficult part is knowing when to drag up...... their is such a thing as confirmational bias......

leave the party while you can still drive or suffer the consequences......h

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I believe I understand what you are saying. And I believe I understand what is going into your decisions within regard to GBPCAD. What gives me pause is that the Daily, Weekly, and Monthly were 100% agreement.

I’ll admit I had a harder time sitting with the USDCHF. While I believe I would have gotten the right choice, I struggle making sense of the timeframes that conflict and understanding how to be so certain as you are. For that example, there was a red QQE on the daily (if I recall the signal order) and the weekly shown different signals as well.

I could see myself in real time freezing and not really knowing what to do, or I suppose more realistically why to pic for a profit target that allows me to feel comfortable with the possibility of selling into weakness

 

[TradeChaser]

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lol..... people poke fun at us.....

in atlanta they had color coordinated and timed signs for pedestrians to cross the street..... so by color you knew whether to walk or not and the count told you how much time you had left......

it might be called 'flying by the seat of your pants', but thats my take on trading.......

metatrader does some math..... gives me a color and count.... that's about the extent of my interpretation..
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occasionally if enough people talk about something it will become to be for no other reason than they began talk about it......

just sold the eurusd...... target 0.999999..... i will leave that party first.... with just enough money to buy 100 pounds of corn for my deer feeders....

that's how a hayseed thinks......h

So to help me understand, how is it that you sum your counts?I think that is the gist of what you’re saying. And I admit , I know you’ve said it in the past.

But if you get a signal on the M30 or H1, how do you summarize everything all the way back to the 43200? Or, if
You get a signal on one timeframe, so you only look “X” timeframes above for confirmation?

Similarly, how do you summmarize based on signals and time frames?

For example, a Red 7 on alma means a world of difference from a Red 7 TSR or PSAR, one signal is exhausted (as far as averages go) while another has just about hit stride. Their sum is 14, but that only tells so much, especially once you add counts from 3 other indicators.

Kind of similar to the question above about timeframes, how do you add up Red Alma on 240 vs Red Alma on 1440?