Maverick

Master Trader
Apr 3, 2014
446
6
79
Bournemouth UK
speaking of which, ran some scans this afternoon
I'm impressed ... you seem to have your eyes on a lot of markets ... way to go

SPX500 (my market of choice) is looking good if I read it right
Post automatically merged:

these charts will be unintelligible to almost everyone
There is certainly a LOT going on there
 

hayseed

Master Trader
Jul 27, 2010
960
255
129
usa
There is certainly a LOT going on there ........SPX500 (my market of choice) is looking good if I read it right
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not as much as it appears..... i wrote hundreds of those type dashboards for peyton when she was probably 5...... her job was to go thru and find a solid inner lime square within a red outer circumference.... or lime inner square within a red outer circumference .... inner square being the signal, outer perimeter being the zigzag.....

i view the zigzags like 8 people stepping onto a boat made to hold only 6...... when that 8th person steps onboard, often the boat will rock...... sometimes take on water..... if all 8 don't keep a firm grip, that boat will flip......

last night all 8 sp500 zigzags were up/ lime...... we can expect a few to fall overboard about now....

but yes, the sp500 did look good.......h
 

hayseed

Master Trader
Jul 27, 2010
960
255
129
usa
forgot to add todays qqe scan for comparison to yesterdays..........

remember yesterday how so many of the commodities had 100% zigzags down...... check today......

sp500, dow, nasdaq all 100% green......

to me, anytime they all are the same color, that's a flashing yellow light.......h
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eurcadx-m15-tf-global-markets-update.png
 

Maverick

Master Trader
Apr 3, 2014
446
6
79
Bournemouth UK
to me, anytime they all are the same color, that's a flashing yellow light.......h
How are NGAS and EURJPY performing ?

Can't quite figure what's going on inside the square

Maybe you could post an enlarged square explaining the contents
 

hayseed

Master Trader
Jul 27, 2010
960
255
129
usa
How are NGAS and EURJPY performing ?

Can't quite figure what's going on inside the square

Maybe you could post an enlarged square explaining the contents
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yeah it looks daunting ..... it's not........ remember, this was written for a 5 year old.....

to me, the zigzag is the absolute best indicator for support, resistance or exhaustion...... it is on every scan......


the scan will run all 8 timeframes but i usually only run 6..... the 5 minute thru weekly......

the perimeter border color is set by last zigzag leg direction..... lime if it is up, red if it is not......

inside that are only 2 possible wingdings...... a square or a little flower lookin outfit...... with 2 possible colors...... red or lime.......

the square will appear if the signal is appearing on this yet unfinished bar...... so the signal is now.....

the little flower thing will be there if the signal happened on a prior bar..... so the last signal might be last bar or further back...... the color of the flower shows it's direction......

using the spain35 as example, on the qqe scan....... on the 5, 15, 30, and 60 charts their qqe's are below the 50 and their last zigzag is down...... everything is red.....

now look at the daily...... lime perimeter and red flower......

the daily zigzag is up and the qqe is crossing below the 50 now...... that's a pretty good signal...... it would be perfect if the weekly was red.....

the ao scan is the same principle but looks for the ao crossing the 0 line.......

the internal flower and square can represent any signal that can be put in math.......

it is capable of scanning for over 50 now....... but i only use a few......h
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eurcadx-m30-tf-global-markets-spain.png

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eurcadx-m30-tf-global-markets-ao.png
 

Maverick

Master Trader
Apr 3, 2014
446
6
79
Bournemouth UK
And was all that written with mq4 ?

In my quest to get LIVE data into a spreadsheet I have stumbled on a "Pythonista" who I have more confidence in than a "Developer"

AND ... Python looks a lot easier learning curve than mq5

In fact ... I might give up on writing my EA in mq5 and do it in Python

BTW ... check out my feed in "MT5 plus Python"
 

Johnere

Trader
Jun 28, 2022
4
0
12
//----

yeah it looks daunting ..... it's not........ remember, this was written for a 5 year old.....

to me, the zigzag is the absolute best indicator for support, resistance or exhaustion...... it is on every scan......


the scan will run all 8 timeframes but i usually only run 6..... the 5 minute thru weekly......

the perimeter border color is set by last zigzag leg direction..... lime if it is up, red if it is not......

inside that are only 2 possible wingdings...... a square or a little flower lookin outfit...... with 2 possible colors...... red or lime.......

the square will appear if the signal is appearing on this yet unfinished bar...... so the signal is now.....

the little flower thing will be there if the signal happened on a prior bar..... so the last signal might be last bar or further back...... the color of the flower shows it's direction......

using the spain35 as example, on the qqe scan....... on the 5, 15, 30, and 60 charts their qqe's are below the 50 and their last zigzag is down...... everything is red.....

now look at the daily...... lime perimeter and red flower......

the daily zigzag is up and the qqe is crossing below the 50 now...... that's a pretty good signal...... it would be perfect if the weekly was red.....

the ao scan is the same principle but looks for the ao crossing the 0 line.......

the internal flower and square can represent any signal that can be put in math.......

it is capable of scanning for over 50 now....... but i only use a few......h
//------
How do you use zigzag for knowing if it is in exhaustion?

Thanks
 

hayseed

Master Trader
Jul 27, 2010
960
255
129
usa
How do you use zigzag for knowing if it is in exhaustion?

Thanks
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hey johnere...... the pin bar detector will do just that...... those pin bars will be all over the chart ....... both bullish and bearish pin bars will be in both bullish and bearish trends......

1. if you see a pinbar at a zigzag point, it seems to me to be more valuable...... esp if the pin bar was extreme......

almost all of the common support and resistance indicators are based on combining the results of 2 or 3 zigzags......

2, so if you have a pin bar at a zigzag point, you are very likely within an existing support or resistance band....... or, that pin bar created a new support or resistance band......

3, elliot waves will most often correspond to zigzag points....... bill williams once said the awesome oscillator was by far the best manner to draw those waves........ the awesome oscillator is a momentum indicator....... so if you see a divergence between it and price, momentum is usually slowing......

3. so if you see number 1 above, along with number 2, and number 3, you have my definition of exhaustion.......

have a indicator somewhere that will plot them on a chart, not sure where it is though......

might sound like a lot........ it's not....... it's also not a guaranteed deal......

example in the current nzdusd chart....h
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.
nzdusd-m30-oanda-division1-pin.png
 

penaltev

Banned
Feb 9, 2024
6
0
6
I see your trading is very good with complete charts. Trading on GBPJPY is certainly very stable. The daily range for this pair is usually very wide, and you can reap a lot of profit. Of course, from a fundamental perspective, you can pay attention to news from the UK especially, and also the US and Japan. I'm sure you are already a master in this trading. Some times I also trade on GBPJPY, but more focus in GBPUSD. Good luck for the future.
 

TradeChaser

Active Trader
May 12, 2020
161
6
34
32
Looks like your 2024 is off to a great start hayseed. Happy to see it and happy to see you active!

I enjoy when others ask you questions. It gives me a chance to see just how much better I could phrase my questions, while also showing me how much better an answer can be when paired with a good question!

Sometimes I wonder if I was ever fit to be a trader, or if I just enjoy the validation of others doing well - proving the time I’ve spent learning was at least spent pursuing a real and plausible outcome
 

hayseed

Master Trader
Jul 27, 2010
960
255
129
usa
Looks like your 2024 is off to a great start hayseed. Happy to see it and happy to see you active!

I enjoy when others ask you questions. It gives me a chance to see just how much better I could phrase my questions, while also showing me how much better an answer can be when paired with a good question!

Sometimes I wonder if I was ever fit to be a trader, or if I just enjoy the validation of others doing well - proving the time I’ve spent learning was at least spent pursuing a real and plausible outcome
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actually not off to a good start..... but should end the year better than my plans......

we think very alike about questions and answers.....

only you can say whether your fit to be a trader...... have a feeling you are...... it takes time.....

trading is enjoyable for me...... my expectations are low...... my needs are low......
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getting back to your questions and answers..... i have often thought of how many tens of thousands of answers i've written only to be deleted.....

i'll take my time carefully writing it..... rewrite it..... verify it's correct..... add to it..... on and on...... in the case of a code issue, i might spend time coding it...... save and compile..... then recheck everything again...... reverify.... on and on......

and when i'm finally satisfied i'll click the x......

it's a if then thing......h