Sorry guys... been really busy like most of you.... but here's my 2 Zimbabwe cents worth....
Molanis... It's actually quite simple and I'm not sure that you guys are going to be able to do anything with this because you already have... Your Indi builder is perfect for creating "Slope" indi's....
Shift 0 - Shift1
Maybe we should define "slope" w.r.t the Forex charts...
Attachment:
Slope Definition.jpg [ 53.24 KiB | Viewed 15797 times ]
Hope you guys agree with that... but, the "slope" of a Forex line can mean 2 things in my opinion....
1. It tells you how quickly an indicator is moving...and,
2. When an indicator is loosing strength...ie. no lag.... and this is crucial because... All MA's are essentially "slopes" of a line over time.... If you take the "slope" of a MA (or any indicator) you will get a "Heads Up"....
Ok... so let's put this on a chart and have a look at where I am coming from... and look closely at the little arrows that show you where my EA entered and exited trades.... it's not that clear...sorry
Attachment:
Basic Chart Overlay.png [ 97.63 KiB | Viewed 15840 times ]
Sorry, I should have put more effort into this chart.... but basically.... the sub-window indicators are:
Note: Remember, we are looking at 2 types of "Slope" behavior (i. the actual slope and ii. when the slope deteriorates), so... from the Top.... indi's no:
1. An indicator that tells me (A) the slope of the Bollinger Bands (the Copper one that you can hardly see.... sorry... but there is another "Olive" line on that Indi that basically tells me (or rather the EA) when it is allowed to trade. The "angle" of the "Slope" of the Bollinger Bands is important to me here (entry). If the "slope" of the indicator does not reach a certain level then the EA will not enter the trade...(all the points "C" have not met those conditions and hence the EA did not enter a trade... If any of you ever wanted an indicator that keeps you out of a sidways market then you should really have a look at this...... but this could be any indicator..., then my second indi:
2. The MACD with it's "slope" line (Yellow)... no great shake's... but the "Slope" line give's me a heads up and tells me that the Top of the move is in sight (B).... (sorry, this is a 15min chart), so I get a heads up at least 15mins before price moves against the long position)... Then...
3. The "Slope" of a simple 13EMA...(B) again.... I'm not sure if you can pick it up from the chart, but this is absolutely priceless for getting your EA to stay out of entering a trade on the High/Low.... play around with this and you'll see what I mean... Then...
4. Another Histogram Indi of mine with it's "Slope" line...(B) again.... Remember... I'm not interested in the "noise" which is filtered out by 1. the Bollinger Band Indi (and it could be any indi)... but when the markets move... I really want to see what the slope of this indi is doing....I'm now concentrating on the "Exit"... When it crosses the Zero and the other indi's have also crossed the Zero (or are close)... I'm out...
Ok...
That's it in a nutshell.... do yourselves a favour and have a good look at this.... Molanis makes it soooo easy to create "Slope" indi's that there is no excuse to not play around...
There are obviously other aspects that come into play such as trading style... longer-time-frames, scalping...swing etc. etc....
...but as a filter... the "Slope" of your indi'd are priceless....
Anyways....
Hope I didn't bore you.... it works for me (and my EA/Trading Bots do 1% comfortably a day) based on the "slope" of my indi's....
Back to work.....
Look forward to other input....
Later
PS: there is another whole conversation about how to use the above in entering and exiting trades.... but if you read thru the above again then you should be able to work out the basics....
Anyways...
Good trading to you all....