The Greedy Bands mq4 was updated to reject false signals.
*** Make sure you receive it from original article, please, as otherwise nothing much could be followed. ***
Many deceptive or unworthy lines have been gone, but that does not make any residual lines somehow legitimate or of significance.
When they are, little doubt is left.
Not all interesting lines are found from the mq4. Some rejected close touches prove to be silent significant
Should you find yourself here without having read the thread, then please do this before going further. 15-20 minutes tops.
One can't help discovering the utter simplicity of what isn't a set-up.
Every PI line the mq4 draws can be duplied by hand. There are no calculations.
Taking some notice of the points just mentioned, can help to better appreciate the next articles.
You can take things only so much in 1 go.
In addition, it's back to the drawing board until further notice.
Rookies, please don't hesitate to post anything in this thread, or take part in conversation.
In particular cherry picked screen shots, can't have a lot of. Relieve me of a chore ;--RRB-
Others may PM me if curiosity, or take it up in other threads.
Of course, the older fallacy is lurking around the corner and someone will point it out then.
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All this Pie is getting old fast, let us conclude with the Snake Oil:
Early 2011, recently a novice, your trader buddy has invited you along to the end-of-month bash of his crew.
All large time traders revealing leverage, boasting, backslapping. The usual.
Naturally, the conversation turns to the current all-time low on the JPY:
How, the inquiry goes, does one call the upcoming big move without any present prior price info at those levels?
These men never TP at under a million pips, so it's a serious matter.
Guts, you hear. Savvy, intuition, fundamentals, probabilities. The usual.
Bets are taken, levels set. Luckily, you have the new notebook that you got to trade 24/7.
Using a nod and a wink your buddy springs for you personally and you are searching for 10 large.
Years later, by a well respected and successful trader yourself, you run to the same crowd again.
They are going nuts, so you won the pot!
Hmm ... at least that old indior was great for something, never managed to trade off the sucker.
They want to know how you did it. You hem and haw, not likely to come clean on that one.
The usual, pure chance really. However, let me tell you this story about a man they had to call Gramps ...
I'm sorry if a few people were led into thinking we're in fact doing a rerun of Trafalgar or even Death Star.
The fact is I looked at these plays for quite a while before hitting on a potential why.
It didn't occur to me to article Gramps' Indior, before a few recent satisfaction in working things through, made it plausible.
It was a fantastic surprise to come across extra lines on this pair at current price, and that resulted in an mq4.
Now I'm utterly gob smacked with this to the pip stuff.
To a rookie everything is new and equally plausible, which means you could probably step on board conceptually with no hitch.
Not so, many seasoned traders, I'm sure. Me neither, and that despite chasing this matter for the previous 3 decades ...
You will have noticed by now, in the point of trade, things aren't as rosy and that the BBs still imitation out the same.
Additionally, you will find an unusually large number of bars that the mq4 qualifies, many falsely, and sorting them is impossible.
Easiest is to follow down from the Monthlies and the Weeklies to watch those lines in detail at lower TFs.
As for experimentation, you can vary two variables:SMA span, at 25 by default mq4. Components of Standard Deviation (useStdDev in dialog box); any favorable double! i.e. 1.96, 2.33 ... and of course, the pairs.
Both leading lines, red and green, are from signs 6-7 decades apart, to within 1 pip #8230;
Both base lines from 20 and 7 decades ago are at 28 pips.
This pair cherry chooses several things to look for when running down normally more confused layouts.
The assignment is to find an inherent effect that might be in drama; plogical, market theory, statistics etc..
Any more could be out of place at a rookie forum.
If somebody thinks I'm out of line and needlessly confusing participants, then please place in your view to give a perspective.
That is after playing with the mq4 of course ;-)
Establish interesting PI Lines to #8220;Ray#8221; and rename them, if you wish to keep some around for reference.
We loe 3 Green lines from Low Hits (under the SMA) and also a more recent Red High Hit.
Pretty tight spread. I wouldn#8217;t even understand how to define this in market conditions, but I understand my classics.
Dynamically seen, it turns into a #8220;sinking galleon with masts being sliced off at the deck-line#8221; pattern.
Or more up to date, laser be and stuff. The Force is still with us ;--RRB-
Anyhow, a whole lot of traders are hunkered down at price within an MN1 Bar being whittled down bottom and top.
It#8217;s not happening up front men #8230; somebody must warn them.
In the allegedly real world, the 120 interval SMA is sitting at 98.913.
Under price now and a rough indiion of the previous 10 year up and down, relatively very close on that scope.
The Fibs line up really well here. No idea how that works out entire, but have a go or try other familiar tools.
Some follow up to the newcomer intro. There is not much to add really since it is a fair starting point.
This is NOT a Trading Strategy or a Method.
Further down the Points of Interest and Lines are called #8220;PI and PI Lines#8221; for brevity.
The Works:
Here we are, zooming along an outside BB, appearing at losses or wins piling up.
And wouldn't it be nice to run across a indiion that states: Last Exit for winners. Losers to stay on board. Re-entry imminent.
Yeah, nice, give over.
Some indie can be made to show up. It's a price worth to the crim's last digit, a price point on a bar; Stable, WYSYG #8230;
But it's three bars late since you get off your ride, you finally have the gratifiion of seeing it fire, from far out largely.
It states: Turnaround has come and gone, see you later.
As the BB's Close worth of the current bar paints back across a three bar interval it could hit that prior bar.
In case it does it marks price outside the cross as more unlikely (out of whack), relative to after price levels to the interior .
It's a very handy visual marker, which can and will show up in all time frames.
At the greater TFs, they are more rare and important. Pretty coherent.
Quick dirty, visual repair just, no numbers, hard to trade ... Only one regular indior; a BB two clones. .
There are no rules, at least common sense, so in the event that you find a close touch, look at it especially in the greater TFs.
Grouped ones are fairly suggestive.
Trader Stuff:
Focus on the more powerful BB runs and their shirts and put your lines on the PIs .
The more important ones will be seen together there.
When markets are ranging the cloned BBs well point out stations.
Does a PI Line originally behave as a Brief S/R (turn around) line?
Utilizing habitual price points for S/R, do these reveal additional degrees?
When price comes back, look for mid-long S/R and when broken its reverse.
Check both ways for any remote price action at/off it.
In consolidation, does it put up an upper/lower limit for a channel, a mid-channel line?
Put some traces on, in the greater TFs, to gauge any S/R in the lowers, etc..
Take bearings from your recognizable Indiors.
Yes. Your lines are firmly drawn with clear intent and robust deliberation.
Avoid unnecessary reflection as therein lies the source of dissolution and disarray.
True mastery opens the way to Yearly and greater Time Frames along with dealer rebates ;-)
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