thread: MADdash (Moving Average Distance)

What is MADdash? A timeframe dashboard looking at price's space from a moving average. Where can I set the file? In the EXPERTS folder. It is a sizable dashboard designed to take over a chart. What is the backdrop to MADdash? Back in April I began the project. This was the parent job to csDash but since MADdash was under testing several alterations have not been required by it, steady. Consequently, its development is currently behind csDash that has profited from unexpected...

Excellent work guys!

quote Are the ma spaces calculated in pips?

Yes, measured in pips

quote I am looking forward to watching how the trading thoughts behind this one develop - I believe it has a lot of potential! Many thanks to you for the first concept of MTF MA space, and for thoroughly testing the dash.

Are the ma spaces calculated in pips?

quote MASTERFUL!! Will be quite active nxt week assessing this Nice to select charts etc Thanks and congrats for you and 919gilead My both of you prosper ## forgot - fits nicely on floating chart on second screen!

Thanks mosiskv... look forward to viewing your comments in analyzing!

Yes that is our baby and it is now in the market Great job as always Andrew

I'm looking forward to watching how the trading thoughts behind this one grow - I presume it's a lot of potential!
Many thanks for you for the initial idea of MTF MA space, and for thoroughly testing the dashboard.

What is MADdash? A multi timeframe dashboard looking at price's distance out of a moving average. Where can I put the file? In the EXPERTS folder. It's a dashboard designed to take over a chart. What is background to MADdash? Back in April I started the project. This is the parent project to csDash but since MADdash was under testing modifiions have not been required by it steady. Consequently, its evolution is currently behind csDash. Who's tested MADdash? So far, just 919gilead....

MASTERFUL!!

Will be very busy nxt week checking this

Nice to pick charts etc

Thanks and congrats for you and 919gilead

My both of you prosper

## forgot - fits nicely on floating chart on next screen!

The notion behind the Moving Average Distance Dashboard comes out of the fact that every currency pair consists of two currencies - the foundation and the quote currencies. Sound basic correct A currency pair therefore goes because (a) one of the two currencies is feeble and the other powerful or (b) one of the two currencies is very, very weak or very, very powerful. This is the basic concept taught by Mark M of Forex Early Warning.

Therefore to gain from price movement, we want to match and trade a solid currency against a poor one as trading two powerful currencies or two weak currencies won't give us any mileage. We're looking for that extra advantage. Therefore I went one extra mile - I wish to exchange the most powerful currency against the weakest currency if at all possible, and made a decision to set the popular currencies under 8 major groups with their related pairs (nothing new here as the others have been doing the same thing), hoping that this will give a bird's eye perspective of what each group is doing. He went to work and I shared the idea, added ideas of his and made this piece of work. Thank you again Andrew.


How Do We Identify the Strongest and Weakest Currencies
Each currency set has 7 currency pairs; and I will be looking for a group that's showing strength or weakness on 4 or more of the related currency pairs - the longer, the stronger or weaker. Watch this live example taken around 9 pm PST (US/Canada)



In the above screenshot, you can observe that the USD team has shown consistent strength against all pairs in its own group whilst AUD has revealed equal weakness against all pairs in its own group too. The next strongest is weakest and GBP is NZD. Watch the AUDUSD chart taken minutes after I took the dashboard screenshot. You can also check the charts of NZDUSD, GBPAUD and GBPNZD. The advantage of this MADdash is that you can view and decide on the weakest and the strongest.



When this seems impossible to you, check my folder directory for the time interval when these screenshots were shot - dashboard @ 9.06 pm and chart @ 9.11 pm




How can I utilize the Dashboard
you've seen the example of the way I use the dashboard over.

A lot of traders have this wrong impression (IMHO) that moving averages lag. While this is true, we overlook that nothing goes in a direct line, and every price movement has to rest and retrace, during which it falls behind its own moving average before continuing its trend movement. This is the place or point of interest to me, where I flip a lagging indior into a major one as exhibited in the example below.



It's the same thing with all the MADdash. I await the M1 to diverge from them, which signifies the pullback I am waiting and focus to M30 time frames on the M5 for. I therefore look showing consistency of trend on 4 or pairs and match the most powerful with the weakest. I check the charts as soon as I see this, and like a sniper wait for the M1 TF to recycle in the M5 and HTFs, and join the trend as price breaks. This is the way I proposed the alert be coded - when M5 and M15 are in agreement, to alert us, so we can be proactive and start checking the charts; and a alert when M1 recycles into M5 and greater.


Warnings and Drawback of this Dashboard
till you get really accustomed to the way the dashboard operates, you will likely be entering trends late - that is the disadvantage of the dashboard in addition to other CSMs. That is why I think that the MADdash is superior to CSM because you're able to adapt it to the moving average you are using in your preferred time period. You might focus on few currency groups and match them when they fulfill your benchmark and make your pips.

Another warning that you should also notice on the attached dashboard would be the low values on each of the bands hinting that this movement won't last. We want value over 10 for any movement that is continuing.

Finally, the dashboard isn't a standalone system; it is an entrance and trade management instrument. You can plug into your preferred MA and have to have your own trading system and get accustomed to the way it works. In my folder directory, you are able to see that I take screenshots nearly every 15 minutes when I am trading and can go back to review exactly what I might have done otherwise at the end of a trading day weekly. And for the information, I do not trade the 1 moment TF but exchange the candle around the M1 TF.

And a final word of caution : The most important goal of trading the most powerful vs the weakest would be to get a little advantage with momentum and price movement following. If however price isn't currently moving inside 10 - 15 minutes of entrance, there is no advantage in that tool again, and should be closed as possible. Than nursing a trade gone bad and in the process, miss good trades that will eventually come along I will rather sit on the sidelines and wait.

Green pips and good trading to all, and I hope you find the dashboard useful in your own trading.

Shalom , and God bless

George

Yes that is our baby and it's finally in the market Great job as always Andrew

You cite taking photos each 15m. Is their a indior or function that you could share? Thank for all you've shared Ray Ps. This is for taking a snapshot. If (TakeSnapshots) DisplayUserFeedback(); TakeChartSnapshot(TicketNo, open); //if (TakeSnapshots)

919gilead
You cite taking pictures every 15m. Is their a indior or function that you could share?
Thank for everything you have shared
Ray

Ps: I have this purpose but not sure about positioning.
This is for taking a snapshot within an open exchange.
If (TakeSnapshots)

DisplayUserFeedback();
TakeChartSnapshot(TicketNo, open);
//if (TakeSnapshots)