NickB's 4H Scalping Method

[phil838]

FX California and Partofit,

I have two scalp lines on my chart right now. A long at 162.57 and a short at 154.85.

[pipgobbler]

This is nothing but TRO trying to advertise his for-profit indicators.

Both the indicators listed in this post are on TRO’s 2008 “donational indicator” list and cannot be obtained unless you send TRO money.

You’ll also notice that he found a creative way to slip the website name in a few posts later…

Just report the guy for advertising and then ignore him. The admins will take care of it.

I downloaded those indicators for free a long time ago.

[phil838]

I downloaded those indicators for free a long time ago.

I might be wrong then. All I know is that they’re on the 2008 “donational indicators” list on TRO’s forums.

[pipgobbler]

I might be wrong then. All I know is that they’re on the 2008 “donational indicators” list on TRO’s forums.

Then apologize.

[lavaman]

Can’t I get the “NickB’s 4H Scalping Method” thread of last week back, when I didn’t have to wade through a bunch of crap to get to the insightful advice.

[pipgobbler]

When people stop jumping on others who see things different. Todd posted a chart with indicators and he was ambushed. If you do not want to see his posts then don’t read them. If you start bashing expect retaliation. Todd didn’t bash anyone. Todd is not the trouble maker here.

[phil838]

Then apologize.

I don’t need to apologize. I got my information from a TRO post where he listed all his donational indicators. Those two were on the list. If you’d like a link to the post then PM me, I’m not going to post it here because it’s on a different site.

TRO should change his list if he doesn’t want people to think they are donational.

This was his mistake, not mine.

[phil838]

Can’t I get the “NickB’s 4H Scalping Method” thread of last week back, when I didn’t have to wade through a bunch of crap to get to the insightful advice.

These things always pop up over the weekend because they know the admins are scarce. This will all get sorted out on Monday, don’t worry.

[phil838]

Here’s how to get rid of all the charts and other non-NickB stuff in the thread.

Follow this link and add ToddWeek and pipgobbler to your ignore list. If you do that you won’t see their posts anymore.

That’s what I just did and now I have my good ol’ NickB thread back again.

And if anyone doesn’t like my posts feel free to put me on your ignore lists as well. Then we can both coexist here and not have to be bothered by one another.

[Sweet_Pip]

Here’s how to get rid of all the charts and other non-NickB stuff in the thread.

Follow this link and add (whoever bugs you) to your ignore list. If you do that you won’t see their posts anymore.

That’s what I just did and now I have my good ol’ NickB thread back again.

And if anyone doesn’t like my posts feel free to put me on your ignore lists as well. Then we can both coexist here and not have to be bothered by one another.

Ah finally! Gee why didn’t anyone think of that before all this got started :rolleyes: Since exercising my ignore list long ago, things are so much more peaceful now.

[s050399b]

You’re right, a price spike doesn’t have to be a news spike. I should have said price spike, but either way it’s the same result.

The next question is how your indicator is going to define a “substantial difference.”

haha!! I think this would be easy? Base on my newbie knowledge, I think it means that the wick is longer than the body?

where
upper wick length = high of candle - (candle open or close - depending which is higher)
lower wick length = low of candle - (candle open or close - depending which is lower)

length of candle = high of candle - low of candle

Hence
if upper wick length > length of candle, remove this high from array
if lower wick length > length of candle, remove this low from array

one question, if u remove this high from array, what should be the “new high”? Is it the open/close of the candle? I need to be sure.

See? by “trying to program”, I actually learn something? haha!

[s050399b]

TRO has been posting that his indicator is not a variation of Barry’s. Ask TRO for yourself.

Barry’s code:

[B] val1 = iFractals(NULL, 0, MODE_UPPER,i);
if (val1 > 0)
v1[i]=High[i];
else
v1[i] = v1[i+1];

  val2 = iFractals(NULL, 0, MODE_LOWER,i);
  if (val2 > 0) 
     v2[i]=Low[i];
  else
     v2[i] = v2[i+1];[/B]

TRO’s code:

[B] nHH = High[Highest(NULL,0,MODE_HIGH,iPeriods,i)];
nLL = Low[Lowest(NULL,0,MODE_LOW,iPeriods,i)];

     DynR[i] =   nHH; 
     DynS[i] =   nLL; 

     if ((DynR[i] != High[i]) && (DynR[i] < DynR[i+1]) &&  ( DynR[i+1] != 0 ))     
        DynR[i] = DynR[i+1]; 

     if (( DynS[i] != Low[i]) && (DynS[i] > DynS[i+1] ) && ( DynS[i+1] != 0 )) 
        DynS[i] = DynS[i+1]; [/B]

If iFractals and DynS a custom function? Please post it too?

[phil838]

haha!! I think this would be easy? Base on my newbie knowledge, I think it means that the wick is longer than the body?

where
upper wick length = high of candle - (candle open or close - depending which is higher)
lower wick length = low of candle - (candle open or close - depending which is lower)

length of candle = high of candle - low of candle

Hence
if upper wick length > length of candle, remove this high from array
if lower wick length > length of candle, remove this low from array

one question, if u remove this high from array, what should be the “new high”? Is it the open/close of the candle? I need to be sure.

See? by “trying to program”, I actually learn something? haha!

A candle close is never a scalp line if there is a wick sticking past the line. I don’t know what to tell you, you’re beyond my programming abilities with this one.

Another problem I see is that just because a price is a high doesn’t necessarily make it a scalp line.

[s050399b]

A candle close is never a scalp line if there is a wick sticking past the line. I don’t know what to tell you, you’re beyond my programming abilities with this one.

Another problem I see is that just because a price is a high doesn’t necessarily make it a scalp line.

So does that mean if there’s a long wick, you will disregard the high? Pretend that the candle did not exist?..

confused…please explain how you would treat a long wick which is the highest in the chart…

[phil838]

So does that mean if there’s a long wick, you will disregard the high? Pretend that the candle did not exist?..

confused…please explain how you would treat a long wick which is the highest in the chart…

That’s the problem, I can’t say how I would treat it without taking the whole situation into account. Things like the trend leading up to the candle, the trend away from it, the number of pips, etc…

Even though a line cross is the trigger this isn’t a simple “enter when x crosses y” system. There’s too much judgment involved.

If you can post a chart where what your describing happens I can tell you what I’d do in that situation though.

[s050399b]

How about these 2?

[phil838]

I’d say the highs there are perfectly good scalp lines. I’d like to see more of a trend up to and away from the second one so I probably wouldn’t trade it, but it is a valid line.

[phil838]

Here’s an example of a low that is not a scalp line.

[s050399b]

Yupe, understood, as it’s not trending up nor down…hmmmm, maybe we should take the rate of acceleration into account? hmmmmm,

the gradient…thinking

[NickB]

@ToddWeek

What a condescending attitude! You come across as “the omniscient one”.

If an indicator can draw the lines, why not? If people didn’t invent “better mousetraps” we couldn’t be trading online. Perhaps you can’t code and are jealous of those, like TRO, who can. Having an indicator that checks for reasons not to enter a trade just might prevent a noob from entering a trade that on hindsight they wouldn’t have entered. If you don’t want to use indicators with your trading that is up to you. Let others make their own decisions.