hi all,
NorwegianBlue, would be difficult for you to add ATR value to each pair to your pretty strength indicator Please,
Acctually I ask you to add because I think it would be a good picture of trend strength number along with information how volatile market is,and which one is more;
It always help to see how big and strong candles are, ah?
Hi Rena,
Iāve been using a multi time frame trend indicator panel here - ipanel_indicator.
I donāt use this as an indicator as to when to put on or take off trades. It is purely a collection of different trend measuring tools over different time frames, all presented on your home chart.
This indicator doesnāt at all replace the mark one eye ball, but it does allow for some identification of different time frame trends at a glance. Iām finding it quite helpful at the moment, but then when I trade Iām also looking after my 10 month old daughter, so I can only glance at the screen for very short periods of time. I use it in conjunction with trend lines, channels and suport/resistance (the usual methods) just as a backup.
The top line is a stochastic too - now I have no excuses for accidentally thinking āstochastic is giving an entry signalā when deep down I know itās not really :p.
Iāve turned off the lower of the two screen items (the one which says how strong a trend is) as I think this leads to trusting the indicator too much. Also, it gives the overall trend, rather than specific time frame trends.
Itās proving to be useful as a guide, but I would very strongly suggest against using it for anything more, at least with the methods weāre using here.
Good question, with charts! I love it. In my opinion, you have drawn the trend lines correctly on both charts. Both of these charts are clearly in an uptrend by definitions of series of higher lows, trend lines, looking at price on the far left of the chart and comparing to current price and the 20 SMA pointing up. So by definition as visually illustrated these both are in uptrend. There should be no confusion to that as you have drawn pretty uptrend lines to illustrate it.
The down channel you have drawn is a down retracement, or short counter trend, to the main uptrend of the chart. There will be very many of these in any sustained uptrend.
In this case, since the Home TF (30M) +1 = 1H chart is also in an uptrend, I would not take the counter trend down trade as indicated by your down channel on the 30M chart. I will never take a trade against the Home TF +1 chart trend.
So counter trend is defined as against the main trend of your Home TF chart, as clearly illustrated in your 30M chart.
With trend is usually defined as with the main trend of your home TF chart.
I most simply say I do not take trades against the main trend of the Home TF +1 chart, in this case that would be the one hour as you have shown. That really has nothing to do with the definitions, that is just my personal trading method.
Those definitions are important. Let me know if that part is clear.
Thanks Cord. I doubt Iāll do much trading today as itās Friday here and Iāve already exceeded my weekly profit target. There was a couple choppy days, but yesterdays long gu trend really helped my averages.
It sounds like you are trading the same way I do, which is never trade against the trend of the TF above your home chart. See if my latest attempt at defining this clarifies things any.
I will keep defining āwith trendā and ācounter trendā trades as many times as necessary until it is crystal clear to everyone before we move on.
I probably confused the issue by saying always trade with the trend of the chart above your home TF chart. This is a trading method, not a definition of with trend or counter trend. The with trend and counter trend trade definitions come from your home TF chart just by itself.
This is difficult for me to define in this manor, but I can see itās needed. Iām actually looking at all charts when entering a trade. I have memorized the monthly, weekly and daily, not because I have special memory super powers, but because Iāve looked at them every day for years. So I am looking at everything from 4H to 1 minute as I enter. Each is really a different angle on the whole story of price action, going back years and right up to the last tick on the tick chart.
I realize now this is way too philosophical to trade for someone who hasnāt been working with it for years, so I will make every attempt at giving hard and fast definitions and rules going forward.
Good work on ATR and other issues. Let me know if I havenāt made anything crystal clear.
Cordite, yesterday I have read very interesting tutorial about PA and its behaving, about master candle and other useful things.
Monday I made 507 pips positive and 200 negative. I found that I can improve total balance of my pips by analyzing ART value and keeping it in front of me.
Thank you very much for offering, but I donāt want junk indicators. I would like ATR to be added only .
Ok. It helps me so thought Iād share, just in case it might help someone else. As I said, I donāt use it as an indicator, but as a glancing guide to evaluate trend on different TF.
Thought Iād offer it out anyways.
Cord
Can you post a link to that tutorial?
I am very appreciate it corditie
Look at this image
ATR value can tell you how strong candles are; like on the right or on the left.
For me both are very useful information.
RenaLa, so good to hear you havenāt given up on us. I hope some of the information youāve received has been helpful. It sounds like you are having good trading results. Once you get some of those the focus needs to turn to consistency and repeatability.
I agree with not getting distracted by junk indicators. I use some a a visual aid, now and then, but none can make you a successful trader. It would be great if there was one that would work for everyone, but there just isnāt and I donāt believe there ever will be.
If you want to study ahead a bit, we will soon be moving into āswing tradingā. This is the closest method I know to a true āset and forgetā method. I use it when I need to be away from my computer for hours at a time and the results can be as good or better than active day trading. It sounds like you are interested in a good set and forget method from your previous posts. Hang in there, it gets easier.
sure (hope Gavinton wonāt be m a d on me :rolleyes:),
its here
Forex Education | Learn Forex Trading Free with Forex4Noobs
there are 4 pdfs. I didnt finish to study them yet
cordite, keep in mind that the pips I made was on monaday. I didnt use anything of that tutorial yet.
I wonāt give up I enjoy your thread very much,
If you want to study ahead a bit, we will soon be moving into āswing tradingā. This is the closest method I know to a true āset and forgetā method. I use it when I need to be away from my computer for hours at a time and the results can be as good or better than active day trading. It sounds like you are interested in a good set and forget method from your previous posts. Hang in there, it gets easier.
I couldnt wait to move into āfat tailā topic
I would like to know as much as possiable about price action and charts
No problem. Iām completely behind anything that promotes studying price action directly. In the end, itās price we all trade. Sometimes itās good to look at these puzzles from several different angles. Interpreting price action directly is more difficult than glancing at the latest wiz bang indicator, but in my experience it is much more profitable.
hmm ā¦
latest wiz bang indicator
what fruit is it?
Rasberry 
But to get back on track, I just finished my V1.0 trading plan. Now I have no excuses for forcing trades (it includes a rubber band to re-enforce this). It includes a segment on trading around news releases.
In your experience, how far before/after a news release is it best to avoid entering a trade with the associated pair?
Cheers,
Cord
Oh, then I would like with ice cream
I dont afraid the news of course if you trade in the direction of the trend of high time frame
from my opinion most news may not be change the main trend direction or the stop will trigged
btw, I like to trade B babbles at this time
On that lucky monday I looked at uj chart. there was no indicators. But the candles told me that the price will rise: the series of last candles on that chart was kind unusual with both weaks equals to the size of the body or almost (it was and it feels like pressure from the top and the bottom),
I just was made the entry almost in the same sec price soared as rocket.
I even dont know if it was the news
In first three month of my forex experience I didnt use ANY indicators. I trade PA only, I have used trend lines only
sorry Graviton for off topic content
I am back again and just popping my head in here to see how everyone is going.
I am going to develop a strategy for using [B]Gravitonās [/B]5 contract entry method using the GFT platform where the entries are averaged. 
I see that [B]MerchantPrince [/B]has developed a deluxe chat room!!
Hi tymen, I glad you back, hope with new thread
Do you enjoy your new location?
Gravitonā¦Iāve been in and out of the chat room as time allows and saw some discussion about using the 8,3,3 Stochs setting. Can you go into a little detail on how you use Stochs this with the MTFT system? Thanks:)
WB Tymen! Oh boy, this will be big fun.
MP has done great work on the chat room. He has also had very good trading results while you were away. Well, except for the day he tried to scalp his way to riches. No worries MP. That didnāt work for me either.