I vote for the PDF if for no other reason than to promote and enhance the learning curve of a novice. My head is swimming with new info and a point by point reconcilation would be a gift.
lets see what these lead balloons and clangers are first before we ask for the indicator PDF. Iām sure he can put it together later on for us, if we still want it.
thanks mate where can i get this indicator from?
i think a PDF would be a good idea tymen, but only if you have the time to compile oneā¦(moving house is obviously more important and necessary for you, i couldnt stand that much heat either! you have done well to produce this much work!..so thankyou very much)
i have been following from day one and made 3 sides of A4 notes which has helped greatly in my understanding of the system, so i guess a PDF will help others no endā¦
people (in last few pages) are saying why dont we enter on the mmacd, and this is the only signal that we really use, but its not, as if you backtest this (and read the whole thread) there are plenty of times the mmacd crosses zero put PA is nowhere near the BBā¦and the BB are in a period of consolidationā¦we are waiting for a bubble or a sausage are we not?..wait for mmacd to cross zeroā¦AND for the bollinger bands to start expanding AND for a candle to close AND for the next candle to hug the relevant BB lineā¦also i was using m30 as my timing chart, but had a look at h1 and h4 for overall trend confirmationā¦then it seems safer to enterā¦
is that correct tymen?
i have tried this out a little today and made +50 pips (on different pairsā¦but only in demo mode)
there are plenty of times mmacd crosses zero but all the other boxes i mentioned above have not been ticked and they were poor trades, i didnt take them, and they didnt go wellā¦however this strategy throws up some more obivous tradesā¦which follow our rulesā¦and the trades were more successfullā¦
i hope what im saying is sort of correct tymen (as i am a newbie)
thanks once again.
p.s GBP/USD (23/03/2010ā¦yesterdy for me) on M30, provides an excellent example of what you have been teaching us over the last few weeks
Tymen
My opinion is, for time consuming
give detailed summary of the method in a page(or refer the page no ) with some live examples for the ā[B]Trend trading with Indiacators[/B]ā (which is enough to go live)
later make a pdf if necessary (Indicator)
I think tymen will gather all the gems (info) in the final pdf (which is his aim)
Thank you
Tymen,
A PDF would be greatly appreciated. Thanks for all your efforts.
[QUOTE=gezza10;181225]thanks mate where can i get this indicator from?
Download the pdf āTHE ULTIMATE CANDLESTICK TRADING MEHTOD 2 LEVELSā from the previous thread of tymen āThe joy of candlestick tradingā
In the pdf the link for the indiacator download and manual to setting up the timeframe is given
Thank you
Hmmā¦I checked, still does not line up. Not sure if I should be concerned about it.
In fact, the MACD is consistently late on the crossovers and the histogram at parts, has divergence from the MMACD.
See attached.
nivlekā¦ the line you see in the macd is just a moving average. the line that should be compared with the line in mmacd is the line created by the macd histogram countour. some macd shows the histogram countour as a line but the custom metatrader donĀ“t. if you want to compare mmacd an macd just compare the line of the mmacd with the histogram in macd.
sorry for the english:p
Got it
Thanks Ruilima
By the wayā¦ love your MMTT, but my psychology is not suited for such short term trading.
iĀ“m updating it just nowā¦ and it will made longer term trades nowā¦ keep watching itā¦ may be surprised:)
Maybe a full blown pdf is not necessary. :DLet me try to summarise the essential points since Tymen is busy with moving house and Tymen, please correct any errors in my understanding and feel free for any wording changes that may make it clearer.
[U][B]3 Charts used being:[/B][/U]
- Home chart is of a certain timeframe and is used to do all the maintenance of your trade. Indicators on this chart include Bollinger Bands, MMACD, Stochastics for Bubble exits and a Parabolic SAR for Sausage exits.
- Trend chart is of a much longer timeframe than the home chart and is used to decide whether to trade long or short.
- Timing chart is a much shorter term timeframe than the home chart and is used to get earlier and better entries.
[U][B]Entry: [/B][/U]When MMACD line on timing chart crosses zero check if MMACD on home chart is heading towards a crossover. If so check the trend direction on the Trend chart. If timing chart zero line cross is in the same direction as the trend in the trend chart and the home chart is heading to a crossover, enter trade.
[U][B]Exit: [/B][/U]Using the Bollinger bands, determine if itās a bubble shape or sausage shape.
- If bubble shape, use the stochastic crossover or the close of 1st candle to not touch the extreme BB to exit trade.
- If sausage shape, use the parabolic sar cross of price action or close of 1st candle to not touch the extreme BB to exit trade.
[U][B]Reenter Trade:[/B][/U] Applicable only when using the simple exit method. This being the close of 1st candle to not touch the extreme BB. Re-enter trade at opening price of candle exited.
[U][B]Stop Loss: [/B][/U]When the MMACD on the home chart recrosses the zero line without any of the Exit conditions above being met.
Hi Alan,
Excellent summary and this is pretty much my understanding so far as well. May I add that there should be mention of the PCI Stop Loss and that this need to be a set number of pips away from the entry that is far enough from the current PA that it won't be taken out on a retrace but not so far away that it will kill your account in a power/internet/hardware failure.
Thanks TraderAlan,Looks like a nice summary. One item I remember Tymen mentioning several times was a PCI stop loss. I canāt remember exactly where it is set but I believe it is well below/above the PA.
Yeah, PCI good point. I also didnāt include the Bollinger Squeeze and settings for the indicators used. Donāt know how the signal line will be used yet so I didnāt mention. Iāll see if there are any more suggestions and also feedback from Tymen before modifying.
I vaguely remember Tymen mentioning the signal line is used for re-entries into the trend.
Please correct me if necessary.
there is a reference to this in post#1299
TraderAlan
Thank you for putting together a summary of this method, and I am sure Tymen will be greatly pleased for this. During his difficult time of moving house I imagine the last thing he would wish to do is produce a PDF of this. This is an excellent compromise.
As you are collecting together ideas from other followers of this thread, can I add that on #1178 mention is made of using the parabolicSAR as a trailing stop.
Many thanks
Ken
Thanks TraderAlan for the great Summary 
IronHeart,
is there a way to place GMMA-fast and GMMA-slow under the chart like in the post # 1298?
would be your heart so kind to give me a slice of the code to trace green and red histogram please
My thanks also to [B]TraderAlan [/B]for that very impressive summary of the indicator trading method.
The PCI stop loss is put some distance away from the price action so as not to disturb it.
The signal line histogram is basically a final warning to get out of a trade when you have not - and should have!! :o
For example, going long on a bubble - you are not using the simple exit method and using the stochastic instead. You have ignored the stochastic telling you to get out because you want even more pips.
Then the [U]final warning[/U] you get is from the signal line.
Ignore this one and you will definitely lose money!! :eek:
I am not keen to produce a PDF for this indicator method.
The reason is not lack of time, although I could not possibly do it now.
[B]The 1st reason is ā¦[/B]
that [U]the naked trading method is so far superior [/U]that once you have seen the naked trading method you will simply throw the indicator PDF straight into the rubbish bin!!
The 2nd reasonā¦
what if I told you that after all our learning, [I]the indicator method does not work?[/I]
[B]What!!![/B]
Wait for it!!
The lead balloons are coming.
I will reveal all.
But first, I promised to answer all the high quality posts put up since my last visit.