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Description: “DoubleMAPaint based on sharky’s pkg modified to include tzachi’s alert when the first consolidation dot is painted”
Gui.Design.DisplayName (“DoubleMA Paint (tzachi)”
public class DoubleMAPaint_tzachi …
Post #18)
2. Slow Stochastic 3,14,3 K line only.
3. DMA Zlema34, Zelma34 (
so what i want is to give my rules for entries and my charts and indicators for anyone who is interested in the sharky style of scalping. to start i use a 4 range chart to trade with and an 11 range chart to see the long trend and to help me with my entries. …
post # 27)
4. MurryMath lines
Trigger:
CCI 18 crossing +30 for long and -30 for short. (or any other one you like after doing back and forward testing, like change of color at 14Zlema,1ADXV)
Trade strategy:
1. Look for short/long trades based on color of Zlema34 (for a conservative method only, ignore Zelema34 for a more aggressive style)
2. Wait for the black diamond to show up, it’s an advance alert that a trade in getting ready to be triggered
3. Look at the direction of the 3,14,3 K line, it is the clue for long (pointing up) or short (pointing down) DO NOT GO AGAINT IT!!!!!
4. 3,14,3 above the 50 line pointing down is what we like to see for a short trade(See attached pic.)
The longer the line has to travel before getting to the OS is potentially more ticks to gain.(opposite for a long position)
5. If 3,14,3 is already in OB/OS territory, no trade.
6. Wait for the trigger to initiate the trade
7. If using a runner, in my obsirvation, the white dots area can serve as a safe SL and than keep moving you trailing stop 5 ticks at a time.
Exit:
1. I trade all in all out with no runners
2. I look to gain 10 ticks a trade.
3. Will take 5 ticks if 3,14,3 is already above 50 line for long or under 50 line for short when open the trade (Aggressive trade)
4. If 3,14,3 line went into OB/OS territory and stay there flat, I will stay in the trade up to the turning back down/up crossing the 80/20 line and may gain more than 10 ticks per this trade.
5. There are around 30-40 setups on any given trading day. No reason to try to get the last tick from each one.
Extras:
1. When Fed Chairman or Treasury Secretary testify in front of Congress or give a speech, NO TRADE ZONE. Every word they say can spike the market dramatically.
2. Every Wednesday at 10:30 there is OIL inventory report coming in. (most expected report during the week for CL) Better to stay a way 15 minutes before and get back after 10:31
3. Stay on sideline 2 minutes before daily economic news release (daily and weekly listing on many financial web site)
4. Price usually respect the MurryMath lines, look for it when in a trade as it may change direction or stall around them. If stall, better be safe than sorry, take the ticks and get out.
*** This information is based on my observation and my personal trading style and is posted for educational propose only. It is not a trade recommendation.
Can you help answer these questions from other members on NexusFi?
The black diamonds as the advance warning for an up and coming trade is a magic tool and the key foundation here. Add a trigger, profit target/SL rules and you are done.
Thanks tz for explanation. I watched the chat all last week and know you and others put a lot of time into this. Great job.
By the way you mentioned CCI 18 as a trigger but I didn't see it in your chart. What goes in panel 2?
I used to use CCI 18 cross +/-30 and now I am using a self developed one.
Try to play with the CCi,RSI,Stocs cross 50,Zlema/HMA change of color or any other tool you find working for you. As long that you TRADE IN THE RIGHT DIRECTON, take your profit (around 10 ticks for a 4 range chart) and you have a SL you will be OK.
Most triggers are very similar in generating the entry call (a bar early or late). The key is to wait for it AFTER a black diamond, go with the 3,14,3 DIRECTIN and have a SL in place.
Description: “DoubleMAPaint based on sharky’s pkg modified to include tzachi’s alert when the first consolidation dot is painted”
Gui.Design.DisplayName (“DoubleMA Paint (tzachi)”
public class DoubleMAPaint_tzachi …