MQ4 Code Works

[hayseed]

I personally, want to make my WPR/Currency strength indicator work.

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it works..... just not all the time..... the trick is knowing which times have higher odds of working.....

imagine a indicator that searches for every time the wpr was above -3 and placed a lime line..... and every time the wpr was below -97 and placed a red line......

do you really need to see the chart..... just knowing the reading is > -3 tells us the price is strong..... knowing the reading is below -97 tells us the price is weak......

what do we do when the reading is > -3...... buy or sell..... does it matter which.....

what do we do when the reading is < -97...... buy or sell..... does it matter which.....

look at the chart below..... i have removed the price bars to avoid any conjecture...... the lime lines are when the wpr was above -3 and the red lines are when wpr < -97......

you could have sold at every open following a red line and not had a losing trade...... you could have sold at every lime line and not had a losing trade...... you can sell extreme weakness and sell extreme strength......

and i did.....

why is that...... cause when your trading with the higher time frame trend nothing matters but having the proper lot size...... any entry will work......

take your wpr idea and trade in the direction of the trend......

just don't ride the horse into the ground...... get off early.....h
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[TradeChaser]

Hayseed,

To the works of Barber and Terrance, are there specific pieces that stand out to the retail Forex trader, or specific works that you’ve drawn the most out of that these two have written?

Post automatically merged: Feb 24, 2022

Hayseed,

To the opera of Barber and Terrance, are there specific pieces that stand out to the retail Forex trader, or specific works that you’ve drawn the most out of that these two have written

 

[hayseed]

Hayseed,

To the works of Barber and Terrance, are there specific pieces that stand out to the retail Forex trader, or specific works that you’ve drawn the most out of that these two have written?

Post automatically merged: Feb 24, 2022

Hayseed,

To the opera of Barber and Terrance, are there specific pieces that stand out to the retail Forex trader, or specific works that you’ve drawn the most out of that these two have written

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none stand out as forex related.... they are more in the line of critical self help thinking of traders in general..... they help me see me......

more often than not, the problem is us...... there is really no reason for us to be unsuccessful other than ourselves..... for things to improve for me, i must improve myself first.....

those sort of papers, books and such appeal to me......h

 

[zanny]

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none stand out as forex related.... they are more in the line of critical self help thinking of traders in general..... they help me see me......

more often than not, the problem is us...... there is really no reason for us to be unsuccessful other than ourselves..... for things to improve for me, i must improve myself first.....

those sort of papers, books and such appeal to me......h

hey hayseed could you please upload the ex4 files for 4 tars multi timeframe and 4 raghees indicator please. also hayseed with multi timeframe indicator do you think is best to use as entry indicator

 

[hayseed]

hey hayseed could you please upload the ex4 files for 4 tars multi timeframe and 4 raghees indicator please. also hayseed with multi timeframe indicator do you think is best to use as entry indicator

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hey zanny..... sure.... let me double check the code first just in case.....

i don't use the mtf type indicators for a entry indicator but rather for confirmation..... in other words if the confirming mtf indications/filters are saying shorts might be better, i'll then wait for short signals using something else......

as example of real live trades this week, look at the charts below...... the lime and red lines are being created by peytons wpr cci force.....

the main idea is to buy on a lime line and sell on a red one......

you can clearly see on each chart possible losing trades...... those losing trades are filtered out by the mtf indicators below..... if a certain number of the squares below are lime, no sells are taken on the red signal lines.... and if a certain number of the lower squares are red, no buys are taken on the lime signal lines.....

buys and sells signals from peytons indicator are only taken if a high percentage agree.....

the actual entry signal is almost immaterial to me..... what's important is that greater than 80% of the confirming indicators agree.....

so those mtf indicators are just filtering out high risk trades...... they are not in any way a stand alone entry signal......h


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[TradeChaser]

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hey zanny..... sure.... let me double check the code first just in case.....

i don't use the mtf type indicators for a entry indicator but rather for confirmation..... in other words if the confirming mtf indications/filters are saying shorts might be better, i'll then wait for short signals using something else......

as example of real live trades this week, look at the charts below...... the lime and red lines are being created by peytons wpr cci force.....

the main idea is to buy on a lime line and sell on a red one......

you can clearly see on each chart possible losing trades...... those losing trades are filtered out by the mtf indicators below..... if a certain number of the squares below are lime, no sells are taken on the red signal lines.... and if a certain number of the lower squares are red, no buys are taken on the lime signal lines.....

buys and sells signals from peytons indicator are only taken if a high percentage agree.....

the actual entry signal is almost immaterial to me..... what's important is that greater than 80% of the confirming indicators agree.....

so those mtf indicators are just filtering out high risk trades...... they are not in any way a stand alone entry signal......h


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Hayseed,

Is that to say the Blue/red are current tf indicators?

Curious what they are if you care to share, but understand if not. I assume a 50 cross if wpr, not sure on CCI (as I seem to use so much different than most), alma/tsr/PSAR, and possibly Raghee.

 

[zanny]

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hey zanny..... sure.... let me double check the code first just in case.....

i don't use the mtf type indicators for a entry indicator but rather for confirmation..... in other words if the confirming mtf indications/filters are saying shorts might be better, i'll then wait for short signals using something else......

as example of real live trades this week, look at the charts below...... the lime and red lines are being created by peytons wpr cci force.....

the main idea is to buy on a lime line and sell on a red one......

you can clearly see on each chart possible losing trades...... those losing trades are filtered out by the mtf indicators below..... if a certain number of the squares below are lime, no sells are taken on the red signal lines.... and if a certain number of the lower squares are red, no buys are taken on the lime signal lines.....

buys and sells signals from peytons indicator are only taken if a high percentage agree.....

the actual entry signal is almost immaterial to me..... what's important is that greater than 80% of the confirming indicators agree.....

so those mtf indicators are just filtering out high risk trades...... they are not in any way a stand alone entry signal......h


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thanks for the reply hayseed. I really wanna know what goes through your thought process when entering into a trade.. I know that you use mtf indicators for filtering but is there any indicator that you prefer over other indicators for entry/exit trade. Thats the thing i'm struggling with, trying to find a decently good confirmation indicator

 

[hayseed]

Hayseed,

Is that to say the Blue/red are current tf indicators?

Curious what they are if you care to share, but understand if not. I assume a 50 cross if wpr, not sure on CCI (as I seem to use so much different than most), alma/tsr/PSAR, and possibly Raghee.

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hey tc..... yes, the red and blue along with the vertical lines are the charts timeframe..... that's a simple indicator i wrote for peyton years ago,,,,, it's posted on enivids forum somewhere......

the other indicators are using the simplest of logic...... like if last bars alma was lower than this bars alma, trend is up...... or, if price is above the psar, the trend is up...... and so on,,,,,

the thought being if many different type indicators are saying the trend is up on many timeframes, there's a good chance i don't want to be selling......

sounds simple...... it is......h

 

[TradeChaser]

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hey tc..... yes, the red and blue along with the vertical lines are the charts timeframe..... that's a simple indicator i wrote for peyton years ago,,,,, it's posted on enivids forum somewhere......

the other indicators are using the simplest of logic...... like if last bars alma was lower than this bars alma, trend is up...... or, if price is above the psar, the trend is up...... and so on,,,,,

the thought being if many different type indicators are saying the trend is up on many timeframes, there's a good chance i don't want to be selling......

sounds simple...... it is......h

If I were to flex my guessing muscles... 4 JFATL would be 4 higher timeframes? and 4 of all of the others to create that lower block?

 

[hayseed]

I really wanna know what goes through your thought process when entering into a trade.. I know that you use mtf indicators for filtering but is there any indicator that you prefer over other indicators for entry/exit trade. Thats the thing i'm struggling with, trying to find a decently good confirmation indicator

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hey zanny...... planting beans is quite simple.... i need to know 2 things..... is the average temperature rising and how long has it been rising......, if the average temp is falling, odds are against planting.....

for me, trading is the same...... i need to know 2 things...... is the moving average rising and how long has it been rising..... if the moving averages are falling, odds are against buying......

other than that not much goes thru my head......

i'm unusually realistic in my targets and lot size..... where on a given sized account, some people might try to make 1000, i'm happy with 10......

the 1000 risk out weighs the reward......h

 

[hayseed]

If I were to flex my guessing muscles... 4 JFATL would be 4 higher timeframes? and 4 of all of the others to create that lower block?

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yes..... the jfatl, jjma, stoch, ao, psar, aima, tsr, raghee, qqe, ljsig and some others all use the 240, 1440, 10080, and 43200 tfs......

i just follow their lead...... really seldom look at the chart such as the one below...... that's too much visual information...... all i need is the combined counts and the up/dn ratio per pair...... and the length of the current trend.... just a few numbers.....

check the chart below...... the eurusd has a 69 magenta count ...... a 17 lime count ...... the daily tsr(89) has been red for only 2 days,......

not only is the 69/17 ratio important but also how long has that been going on....... there is a point of diminishing returns and expectations........ this where knowing the average length of every signal on every pair on every timeframe is of value.......

divide the average length by 2, and prepare to exit......h
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//---- the chart below here can be summed and display in the manner above......

 

[hayseed]

suppose your top secret get rich quick trigger was nothing more than the standard macd crossing the 0 line......

on average, how many of those signals would the daily chart of every pair yield per year...... with some simple math you would know the signals average length...... and the average signals per year......

knowing is the easy part......

waiting is not so.......h
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//------ just saying

 

[TradeChaser]

suppose your top secret get rich quick trigger was nothing more than the standard macd crossing the 0 line......

on average, how many of those signals would the daily chart of every pair yield per year...... with some simple math you would know the signals average length...... and the average signals per year......

knowing is the easy part......

waiting is not so.......h
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//------ just saying

You make it look so easy! But I do see your point. I just need to get to the scripts.

Given this example, however, I’m curious how you would trade here. Naturally, that looks like it could (and should) cross bearish any day. Also, based on previous price action, it looks like a good place to prepare to short.

However, if you took that stoch cross, all of your W and M indicators would be bullish still, would it not?

 

[hayseed]

Given this example, however, I’m curious how you would trade here.

However, if you took that stoch cross, all of your W and M indicators would be bullish still, would it not?

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hey tc..... yes, daily and weekly are all bullish...... on both the audcad and nzdcad...... monthly is bearish.....

the weak point with indicators is they can only tell you what has happened , they have no clue as to why..... the same for me..... the recent aud and nzd strength confuses me.....

if you look oscillators, and moving averages for that matter, a few bars of countertrend movement is required to turn the indicator......

so roughly speaking, if a signal has an average length of 10 the best time to exit might be around 7..... naturally the premium exit would pre date the turn by a few bars.....

the daily hma is now double it's average length on both the audcad and nzdcad..... and the audcad is at it's downtrend line.....

some might see that as overbought in a downtrend......

large specs are net short on both...... makes me wonder who's buying......h
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[hayseed]

the touchy feely syndrome mentioned above is a real thing...... didnt make it up....... has to do with our tendency of holding on to something we chose as opposed to how long we will hold on to something chose for us.....

such as, if we decide to sell and the trade goes against us, we will hold that ever increasing loss trade due to our egotistical blindness..... where if someone told us to sell, and we did, there is a tendency to jump ship at the first sign of red ink......

speaking of jumping ships, even the safest life boat can be a death trap if everyone piles in..... same applies to indicators......

the eurusd signals count was 2 said buy and 43 said sell earlier...... currently 3/42......

boat is filling up.....h
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[hayseed]

something similar to this has probably happened to you......

every now and then, priscilla will say, 'what are you thinkin about'...... perhaps it's the look of concentration on my face...... i'll say, 'for(int i=0;i<Bars;i++)'.....

the running joke is, now she knows what i was thinkin but at the same time has no idea what i was thinkin......

the average dema length tends to be 5 or 6....... it is now 23 on the audcad daily and 13 on the nzdcad daily...... i'm thinkin it's about to reset......
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have you ever thought about keeping a running tally of the total bars a indicator stays above versus below 0....... such as the macd, cci or ao......

subtracting the aboves - belows will give you another oscillator....... just like the parent indicator, weakness follows strength......

just thinkin.....h

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yellow ma is the dema......

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[TradeChaser]

I will tell you, I know exactly what you are saying. My significant other will gladly attest to the hours I’ve rambled about forex and the numerous times I’ve “figured it all out!”

I commonly joke with her that I’ve found a new strategy, and I’ve already put in my 2 weeks’ notice .

As far as 0 cross indicator, I can definitely see the value here! It seems no different than a rising buffer on the chart.

I do have a burner of a question though. I don’t even know if it matters, but something irks me when I am finding averages and more-or-less trying to assess correlation. That is to say, do you ever try to calculate the statistical significance of the averages or data sets that you collect?

For example, if the average DEMA is 5 to 6 (which is close to what I calculated as average alma as well I believe, if I even did it right), is that statistically significant, or does it even matter?

It’s been far too long since I’ve truly practiced stats, but if I recall correctly, if there is statistical significance in that data, then believe that equates to if you get a first red DEMA, then there’s should be an intrinsic pull to the average and a statistician would count on the DEMA reaching the average.

On the contrary, if it’s not significant, then even if you see the first red DEMA, even if the average is 5, it’s a coin flip every new candle.

Am I even making sense? I know what I am trying to say.

It’s funny all those hours in class learning something you think “you’ll never need”. Now I’d give anything to go back and be a mathematician!

 

[hayseed]

For example, if the average DEMA is 5 to 6 (which is close to what I calculated as average alma as well I believe, if I even did it right), is that statistically significant, or does it even matter?

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hey tc..... it matters to me but must be taken with a grain of salt...... this is trailing orders are so valuable to me.....

once the average value has long been passed, i'll have a whole covey of trailing stop orders riding the psar or some offset of a moving average.....

using my best current example of how it does not always work, the audusd and nzdusd are dragging me thru the brush..... i'm short and red all over......

the average 240 dema on both is 6 and current counts are 19 and 20..... the daily counts are exceding also...... the touchy feely syndrome has me holding on to those ever increasing losses...... egotistical blindness in red letters.....

timing is another place where it matters to me...... if the average signal length is 10, there is no pressing need for me to stay glued to the chart..... unless i'm trading the minute charts...... which i don't.....

there are some other areas where the average lengths matter also..... such as if the average length is 10 on the daily you can at times have a larger target than if it was only 2.....

and things along that line.....

nzdusd crowding .68 ..... figured it would drop anchor before ...... but now looks it's just going to toss me overboard....... h

 

[hayseed]

most likely you have a better memory than me...... or at least that's my hope......

dashboards can be the handiest thing around...... till you forget what that dang arrow means......

which would you rather...... batteries included or batteries not included....... descriptions are the same......h
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[hayseed]

you can create your own folders in metatrader...... helps for better navigator organization......

otherwise it doesn't take long before that thing can look like a teenagers bedroom...... or priscilla's garage......h
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