Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 5/4/2005(UTC) Posts: 63 Location: Poole Dorset England
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Hello all, just wanted to know If I've written this right as I've just seen Patricks video 2(Excellent buy the way) and got it from there, but I just want to check if this is correct
I've read Gerald Appel uses a shorter period setting for entering using macd on a very short time frame(Swing trading basis)
His settings to enter are 6,19,3 all exponential
I've made this in Indicator builder to those settings.
Question 1=Is this right?
Question2= I know when I plot the in built MACD in the Indicator builder, it plots the MACD with its signal line as a dotted black line automatically, is there anyway to configure this new shorter term MACD so it will plot with the signal line as a black dotted line atomatically without having to go into its settings? This is only a smal thing I know, but hey, if it can be done and saves time, then why not?
hope this all makes sense:-)
Here's my attemt at the Swing entry MACD
MACDV:=Mov(C,6,E)-Mov(C,19,E);
MACDV;
Mov(MACDV,3,E)
Cheers:-)
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
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Question 1: Yes it is right, excellent !!! Does not it feel great to figure it out on your own :D
Question 2: Unfortunately it is not possible ... What I usually recommend is to create a template after setting the indicator the way you want.
Patrick :mrgreen:
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 5/4/2005(UTC) Posts: 63 Location: Poole Dorset England
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Thanks for the reply Patrick. As I think you know this is all a bit new to me, but I've also designed my default template now, to look at end of day with a swing trade bias (hold 2 -5 days, possibly longer). I just want to post it and get some feed back if anyone has any ideas to improve on it. As it stands it's set up like this,
Colour coded candlesticks attached as an expert.Looking for a minimum of 3 red candles with a view to going long or 3 green with a few to going short (Buying pullbacks etc) these could turn into 4 or 5 red etc then as soon as there's a colour change I'm interested.
Filters include. CCI 5 period, only looking at over bought or over sold
Have colour coded volume also (So can see if pos or neg and increasing or decreasing
RSI 21 period with a 5 period ex mov avg plotted.
Bollinger bands, looking for the candles to be touching or near top bband or bottom b band
And finally MACD With Gerald Appels 6,19, 3 settings (more responsive for entry, but once entered switching back to same template but with standard macd settings.
Also histogram colour coded and scaled up by a factor of 4 giving a visual idea about where the MACD might be heading.
And that's it! Sounds alot but I've designed it so all can be seen easily at a glance .
So looking at my template as you can see 6 green candles now turned to red
touching upper bband
cci (5) turning down (Over bought)
RSI (21) turning down
Volume negative and decreasing
Histogram MACD turning red and decreasing
So potentially a shorting situation if on market open, it opens the same or lower, and moves lower
Does this all make sense? I think I'm getting there.
Is there anything you can see wrong with this?
There's so many indicators out there now in the market its so easy to get "Information Analysis Paralysis", but I've stuck with what I consider, indicators that have been proven over time and I've set it up in such a way that it's all clear and can be analyzed instantly.
Some feed back, positive or negative would be great
All the best
Theghost
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 5/4/2005(UTC) Posts: 63 Location: Poole Dorset England
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Sorry,
Just put up a post and added an attachment of my default template as a jpeg but I can't see it on the post?
Is there anything wrong with attaching files?
How can I view it in the forum if not?
Sorry, Said I was new to all this
Theghost:-)
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