I want to start a discussion on avoiding Ranging - Consolidated and Flat markets and how these strategies can be implemented into an Expert Advisor
Avoiding ranging/cosolidated/flat market
- Thread starter Maverick
- Start date
- Watchers 2
As I Spreadbet the markets are open 23/5 ... 01:00 to 24:00 in the case of Indices ... my chosen/preferred market
So for the most part the Asian session is best avoided ... the exceptions are few and far between
Also, the last hour is normally very quiet
So I use TIME as a filter which can be easily set in an EA ... In the below example don't start trading until New York opens at 16:30
So for the most part the Asian session is best avoided ... the exceptions are few and far between
Also, the last hour is normally very quiet
So I use TIME as a filter which can be easily set in an EA ... In the below example don't start trading until New York opens at 16:30
//-----
if trading on a intraday basis, you can calculate the average atr for each hour of the day for each pair.....
this will give you the most active hours per pair...... but it sounds like you have your preferred hours already......
a trend or momentum trader might lean towards the more active hours...... while an support and resistance scalper might prefer the less active asian session......
//------
when multiple moving averages on multiple time frames agree, usually the market is trending...... they intertwine during hesitation..... the guppy moving average is a perfect example of this.....
using that principle, you could place vertical lines every hour where the color was set buy the higher trends direction..... then dropping down to the lower time frames, you could clearly see seemingly preferred trades......
this would in effect be a higher time frame filter....... the first chart below has the vertical line colors set by the 240 tsr(10)....... dropping down to the 15 minute chart, that 240 filter are seen......
just create a function in your ea that limits trades to those times.......
you could also use something like rate of change, commonly called roc..... enivid explains roc here.......h
//-------
//----
Using the same chart 04.01.24
My first thoughts on the ROC indicator was how similar to the RSI it was
If I were trading manually I think I would avoid periods with lots of arrows ... indecision
Still trying to figure out your vertical lines
Laguerre is something I thought worth having a look at
The ema's are what I am currently using for entry and direction
Need to avoid the majority and be ready when London closes at 19:00 (Yellow dot)
Wonderful thing hindsight
My first thoughts on the ROC indicator was how similar to the RSI it was
If I were trading manually I think I would avoid periods with lots of arrows ... indecision
Still trying to figure out your vertical lines
Laguerre is something I thought worth having a look at
The ema's are what I am currently using for entry and direction
Need to avoid the majority and be ready when London closes at 19:00 (Yellow dot)
Wonderful thing hindsight
The same chart showing as H4 ... Looking at that now I am wondering WHY I am messing around with M5
Maybe I need a wake up call ?
H'mmm
Maybe I need a wake up call ?
H'mmm
Would be possible to share the indicator that draws the vertical lines?//-----
if trading on a intraday basis, you can calculate the average atr for each hour of the day for each pair.....
this will give you the most active hours per pair...... but it sounds like you have your preferred hours already......
a trend or momentum trader might lean towards the more active hours...... while an support and resistance scalper might prefer the less active asian session......
//------
when multiple moving averages on multiple time frames agree, usually the market is trending...... they intertwine during hesitation..... the guppy moving average is a perfect example of this.....
using that principle, you could place vertical lines every hour where the color was set buy the higher trends direction..... then dropping down to the lower time frames, you could clearly see seemingly preferred trades......
this would in effect be a higher time frame filter....... the first chart below has the vertical line colors set by the 240 tsr(10)....... dropping down to the 15 minute chart, that 240 filter are seen......
just create a function in your ea that limits trades to those times.......
you could also use something like rate of change, commonly called roc..... enivid explains roc here.......h
//-------
//----
Thanks
I think you will find all hayseed did was open H4 then draw vertical lines every 4 hours then go back to M15 to view them
The 3 indicators below his vertical lines have nothing to do with the vertical lines
Last edited:
You would just colour them to show direction ... I personally am leaning more toward following the EMA's ... The 0.1 trade is my tester
//----
hey john...... yes. absolutely......
currently on the road ...... will post it tomorrow for sure......h
//-----
hey john..... here ya go....... this is just a quick example...... it's not something meant to leave on the chart...... so you would need to rewrite the code to suit your needs..... all it does is color the hour lines with respect of the 240 charts tsr(10)...... so you would need the tsr indicator also......
my losses tend to be more frequent when i trade against the 240 trend......h
//------
//-------
Attachments
Where I look to confirm market direction https://uk.investing.com/indices/us-spx-500-technical
The only problem for me is that it only works during stock market opening times ... Have to wait until 14:30 GMT for the SnP results to be Live
The only problem for me is that it only works during stock market opening times ... Have to wait until 14:30 GMT for the SnP results to be Live
//------
that is a very good site ............. money control has a similar layout but popup ads drove me away..... money control.......
you can code those very things in metatrader....... then display the results in a dashboard for every symbol and timeframe.....
it's best to separate the forex pairs separate from everything else....... and keep the indexes which appeal to you the most at the top.....
or your ea could calculate the results and display them for the symbol your trading.....
like you mentioned, it's handy information.......h
I had something created for me back when I was trading off MT4 ... Need to get the same for MT5 ... On my todo list
The STRONG SELL was scraped from the Investing webpage
I also used GG-RiverFlow ... Wish I could find it for MT5
Similar threads
