Mp -- Some Of My Non-secret Secrets

Beginner Questions
244

Ok thanks for the indicator-I have gone through the following post and I see potential in it to supplement my own method.

There are a few things that I need to catch up on-but I understand the basics. Please see the attached image. My own system will tell me here that I am going to be “OK” if I buy it here-and probably I will be (for my goal of 10-20 pips). Now when I add your overlays (the shi, lrc and golom) the picture changes…what do I do now do I go long or Do I short here? This is where it gets excruciatingly complex. In reality, this being a Sunday evening, I will not trade at this point-but hypothetically- I will place a long and a short trade at this juncture - both with a t/p of 5 pips … And as I am typing this I got confirmation the long trade has been hit :slight_smile: I am sure I will get my 5 pips on the short trade too:)

Thanks for this system. It is nice and cool. It provides an extra pair of halogens bulbs when the terrain is really dark. I can see this helping me avoid the hidden traps that the texas forex system is unable to catch. :slight_smile: thanks

ps# just now the short trade got hit too. I know I know just 5+5 = 10 pips but hey that is exact half of what my daily desires are :slight_smile:


245

I am sure there are no ulterior motives here, but seems like MP (and I would be lying If I dont) seem to miss your gracious presence around our posts.

:slight_smile:

246

you were right yoda, the pair I wanted to buy at 1.3380 has now dropped to 1.3349 :wink:

You remember I asked you once if there is a way to determine if the price is going to break the channel, I think this can tell the trader that the price is about to break the channel or is it going to come bck and head towards the centerline.

Nicely done :slight_smile:

thanks

247

one more thing-do note that these dots with cute lil numbers in them usually appear where the LR line takes a turn (I observe the angle of the return is crucial) Now who know which occurs first, though I am willing to bet the LR line turns back first :slight_smile:

Hey M, on some second thoughts, how is the EUR/JPY guy-does he fit into what I like to call trade at 12 EST and sleep and wake up to a good pip count in your favor category? I think Japan closes at around 12 AM EST, so the field is left to the players at the other end of the pond???..no mu bad, japan closes at 4 AM EST…So that rules out the tricks that I have up my sleeves that work well on EUR/USD :frowning:

1tex

take care and good night

248

MP, do Shi Channels hold true through the weekend gap on small time frames (5 min)? In otherwords, even after the roughly 55 pip jump from friday to today, do you still expect price to adhere to the same rules? Or do we need the specified number of new candles to form a post-weekend Shi channel?

249

I know MP has an apt answer to that but lemme also try with my modest knowledge–

I think they do hold true-unless some major event occur over the weekend. If you observed that though eur/usd opened ,more than 50 pips outside of the shi Channel today it has again come back to the near of the middle line.

Hope it makes sense.

250

I wouldn’t use the shi channel on any TF smaller than the 4hr maybe the 1hr but definately nothing smaller. When you go below that, it becomes very skewed in my opinion.

Remember the shi really only gives you the range that the pair is trading in. On the lower TF, its really quite useless.

251

Hey Everyone, I edited an existing custom indicator I found and created my own customer LRC drawing tool. While we all have our ways of drawing the LRC, this will draw it for the past 24 candles. I also run another copy of this at 128 candles. (Yes I like binary numbers). The original author is listed below, since I only took his/her stuff and tweaked it.

//+------------------------------------------------------------------+
//|                                            Husky_1's AutoLRC 24.mq4 |
//|                Copyright � 2006, tageiger, aka [email protected] |
//|                                        http://www.metaquotes.net
//Updated by Husky for my needs                                      |
//+------------------------------------------------------------------+
#property copyright "Copyright � 2006, tageiger, aka [email protected]"
#property link      "http://www.metaquotes.net"
#property indicator_chart_window

extern int period=0;
/*default 0 means the channel will use the open time from "x" bars back on which ever time period 
the indicator is attached to.  one can change to 1,5,15,30,60...etc to "lock" the start time to a specific 
period, and then view the "locked" channels on a different time period...*/
extern int line.width=1;
extern int LR.length=24; //How Many candles back 
extern color  LR.c=Orange;
extern double std.channel.1=2.10;        // 1st channel
extern color  c.1=Orange;
extern double std.channel.2=2.10;        // 2nd channel
extern color  c.2=Orange;
extern double std.channel.3=2.10;        // 3nd channel
extern color  c.3=Orange;

int init(){return(0);}

int deinit(){ ObjectDelete(period+"m "+LR.length+" TL"); 
   ObjectDelete(period+"m "+LR.length+" +"+std.channel.1+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.1+"d");
   //ObjectDelete(period+"m "+LR.length+" +"+std.channel.2+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.2+"d");
   //ObjectDelete(period+"m "+LR.length+" +"+std.channel.3+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.3+"d");
return(0);}

int start(){//refresh chart
ObjectDelete(period+"m "+LR.length+" TL");
ObjectDelete(period+"m "+LR.length+" +"+std.channel.1+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.1+"d");
//ObjectDelete(period+"m "+LR.length+" +"+std.channel.2+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.2+"d");
//ObjectDelete(period+"m "+LR.length+" +"+std.channel.3+"d"); ObjectDelete(period+"m "+LR.length+" -"+std.channel.3+"d");
//linear regression calculation
int start.bar=LR.length, end.bar=0;
   int n=start.bar-end.bar+1;
//---- calculate price values
   double value=iClose(Symbol(),period,end.bar);
   double a,b,c;
   double sumy=value;
   double sumx=0.0;
   double sumxy=0.0;
   double sumx2=0.0;
   for(int i=1; i<n; i++)
     {
      value=iClose(Symbol(),period,end.bar+i);
      sumy+=value;
      sumxy+=value*i;
      sumx+=i;
      sumx2+=i*i;
     }
   c=sumx2*n-sumx*sumx;
   if(c==0.0) return;
   b=(sumxy*n-sumx*sumy)/c;
   a=(sumy-sumx*b)/n;
   double LR.price.2=a;
   double LR.price.1=a+b*n;

//---- maximal deviation calculation (not used)
   double max.dev=0;
   double deviation=0;
   double dvalue=a;
   for(i=0; i<n; i++)
     {
      value=iClose(Symbol(),period,end.bar+i);
      dvalue+=b;
      deviation=MathAbs(value-dvalue);
      if(max.dev<=deviation) max.dev=deviation;
     }
//Linear regression trendline
   ObjectCreate(period+"m "+LR.length+" TL",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1,Time[end.bar],LR.price.2);
   ObjectSet(period+"m "+LR.length+" TL",OBJPROP_COLOR,LR.c);
   ObjectSet(period+"m "+LR.length+" TL",OBJPROP_WIDTH,line.width);
   ObjectSet(period+"m "+LR.length+" TL",OBJPROP_RAY,false);     
//...standard deviation...
   double x=0,x.sum=0,x.avg=0,x.sum.squared=0,std.dev=0;
   for(i=0; i<start.bar; i++)    {
      x=MathAbs(iClose(Symbol(),period,i)-ObjectGetValueByShift(period+"m "+LR.length+" TL",i));
      x.sum+=x;
      if(i>0)  {
         x.avg=(x.avg+x)/i;
         x.sum.squared+=(x-x.avg)*(x-x.avg);
         std.dev=MathSqrt(x.sum.squared/(start.bar-1));  }  }
   //Print("LR.price.1 ",LR.price.1,"  LR.Price.2 ",LR.price.2," std.dev ",std.dev);
//...standard deviation channels...
  ObjectCreate(period+"m "+LR.length+" +"+std.channel.1+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1+std.dev*std.channel.1,
                                        Time[end.bar],LR.price.2+std.dev*std.channel.1);
   ObjectSet(period+"m "+LR.length+" +"+std.channel.1+"d",OBJPROP_COLOR,c.1);
   ObjectSet(period+"m "+LR.length+" +"+std.channel.1+"d",OBJPROP_WIDTH,line.width);
   ObjectSet(period+"m "+LR.length+" +"+std.channel.1+"d",OBJPROP_RAY,false);
   
   ObjectCreate(period+"m "+LR.length+" -"+std.channel.1+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1-std.dev*std.channel.1,
                                             Time[end.bar],LR.price.2-std.dev*std.channel.1);
   ObjectSet(period+"m "+LR.length+" -"+std.channel.1+"d",OBJPROP_COLOR,c.1);
   ObjectSet(period+"m "+LR.length+" -"+std.channel.1+"d",OBJPROP_WIDTH,line.width);
   ObjectSet(period+"m "+LR.length+" -"+std.channel.1+"d",OBJPROP_RAY,false);

  // ObjectCreate(period+"m "+LR.length+" +"+std.channel.2+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1+std.dev*std.channel.2,
   //                                          Time[end.bar],LR.price.2+std.dev*std.channel.2);
  // ObjectSet(period+"m "+LR.length+" +"+std.channel.2+"d",OBJPROP_COLOR,c.2);
  // ObjectSet(period+"m "+LR.length+" +"+std.channel.2+"d",OBJPROP_WIDTH,line.width);
 //  ObjectSet(period+"m "+LR.length+" +"+std.channel.2+"d",OBJPROP_RAY,false);
   
   //ObjectCreate(period+"m "+LR.length+" -"+std.channel.2+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1-std.dev*std.channel.2,
    //                                         Time[end.bar],LR.price.2-std.dev*std.channel.2);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.2+"d",OBJPROP_COLOR,c.2);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.2+"d",OBJPROP_WIDTH,line.width);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.2+"d",OBJPROP_RAY,false);

//   ObjectCreate(period+"m "+LR.length+" +"+std.channel.3+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1+std.dev*std.channel.3,
//                                             Time[end.bar],LR.price.2+std.dev*std.channel.3);
  // ObjectSet(period+"m "+LR.length+" +"+std.channel.3+"d",OBJPROP_COLOR,c.3);
  // ObjectSet(period+"m "+LR.length+" +"+std.channel.3+"d",OBJPROP_WIDTH,line.width);
  // ObjectSet(period+"m "+LR.length+" +"+std.channel.3+"d",OBJPROP_RAY,false);
   
 //  ObjectCreate(period+"m "+LR.length+" -"+std.channel.3+"d",OBJ_TREND,0,iTime(Symbol(),period,start.bar),LR.price.1-std.dev*std.channel.3,
  //                                           Time[end.bar],LR.price.2-std.dev*std.channel.3);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.3+"d",OBJPROP_COLOR,c.3);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.3+"d",OBJPROP_WIDTH,line.width);
  // ObjectSet(period+"m "+LR.length+" -"+std.channel.3+"d",OBJPROP_RAY,false);
      
return(0);}
//+------------------------------------------------------------------+
252

btw 5 ***** for the underdog golom :slight_smile:

253

figured :slight_smile:

254

I could swear MP said Shi Channel and S & R could be used on any TF. If not, I musta been getting lucky because I traded the price bouncing off Shi Channels on the M5 all week with my best results ever!

255

of course im trying to bait you, but time will tell “why” along those lines !

TRO and i have an “unusual” relationship going back many a year (NO, not THAT kind of relationship) and while he listens and plucks ideas from me, he does from everyone else also, which is fine, but dont expect to see me credited with much except what i catch him on !

i dont hang at ff much cause why bother ? there we have traders making it just fine, while here we have lambs to the slaughter, so i try to keep them far away from the knife as i can — wont always work, people being peoples, but if a few learn and go on to better things, its a reward !

the semiphores have been around for ages, but the redraw problem is what makes them sometimes unreliable for a “system” ---- i just use them for a quick reference as to where drawdowns will occur and by using the lower timeframes, can kinda sorta predict when the longer timeframes will go back to their original direction, so redraws arent a really big problem.

oh, the length of the posts is easy, since i have a computer and monitor and speech recognition program dedicated to that only — i talk, it writes and then posts appropriately ! Strangely enough, when not talking about forex, im as shy and quite as a mouse !

enjoy – good to see you took the bait

mp

256

while there are many “systems” based on the ziggies out there, MY particular use of them are as “guides”, in a similar manner as the LRC.

i speak of reverses (within the existing trend) which create drawdowns, that happen at fairly specific times of day, and the number 1 dot usually occurs at those times — watch and verify yourself !

one has to be careful, as they may only suggest a small (23 fib) move in the opposite direction (when it happens on a longer timeframe, its usually a longer move, naturally) but the 11:30 am, est reversal tends to be a good one !

the real purpose of my latest tome is to show WHAT is happening within a trend, even if you KNOW it has to go from A to B — it simply shows the temporary direction changes that occur constantly and can hit your sl if its too tight (which seems that almost anyplace these days is TOO tight !)

THROW it on the chart and WATCH — it may help if youre a visual kinda right brained person, or you may hate it if youre an accountant !

enjoy

mp

257

Well thanks again for thinking of us lambs. It’s going to take me a 2-4 days to kinda get caught up on all the info you have been sharing. Unfortunately I didn’t find this thread around thanksgiving when it was started and so I’m playing catchup. In a few days I’m sure I will have questions (that will be painfully obvious to everyone but me)…I just need some time to read…reread and reread again until some of your enlightened trading wisdom sinks deep into the marshmallow I got between my ears.

By the way did your pipes unfreeze yet? Hopefully so for the sake of Slink.

258

MP6410

I been reading what you have been putting out. I think you understand how boring forex is and most importantly how it generally works. Its rare to see someone who plays and tries to help. I have friends who dont help others and say more loser to give them money. I understand the money we make or lose goes or comes from a bank/broker. I want to let you know a player can recognize another player thats trying to make sure other can get in and hold on

259

Thanks to all the people who have contributed to this thread.

Got some very good info and has improved my results over the last 2 weeks.

260

Hey MP, Sweetpips, everyone else who’s interested, I had a programmer friend look at my Shi_channel_true and he seems to have fixed the problem of it not showing up on the 5 min charts at random. He’s not a trader so he wants to tinker with it a bit more to make sure it’s funtioning just like the original, but I’ll post it when I get the go-ahead.

261

thnx pukey

look forward

mp

262

Lets change that to 2-4 weeks. My gray matter hasn’t received this type of workout for 15 years. Just another reason to keep studying FX, its like Golds Gym for the mind.

263

Well I hope everyone is doing well…I have to admit I got burned a little tonight :o

It seems when you see a bottom semafor 3 at the bottom of an upward channel …a couple of times… that it’s good to look to go long like it normally does…but it just keeps going down. I know the trend is your friend until it ends, but it’s being just a little unendingly TOO friendly…lol

I think I’ll wait until this inauguration thing cools off a little over the next little while.