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zdo

Developing Trader's State of Mind Discussion

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True, it is not the tremble in your boots type fear, but it is the deer in the headlights type fear. Nonetheless, it is fear.

 

Fear in trading is more like intuition for traders who are taking risks that are too big for their accounts. When one takes risks that are too big, his mind's built in accounting program is letting him know that he is heading down a destructive path.

 

To remedy the situation, one needs to use much better risk management.

 

No, I would not characterize it as "deer in the headlights" type fear because a few of these people met their margin calls so they could stay with their position. More likely, it was ignorance combined with a lack of fear - a deadly combination.

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No, I would not characterize it as "deer in the headlights" type fear because a few of these people met their margin calls so they could stay with their position. More likely, it was ignorance combined with a lack of fear - a deadly combination.

 

 

Hi gosu,

 

In my homegrown mind, these People are completely disabled by fear ...yes they may meet their margin call but it is because they cannot face the reality of closing the position.... the pain is too great..... and I am not referring to money.

 

I do not see fearlessness in this action ....your choice of 'ignorance' in the sense that they have no idea how they truly function would be a more apt description.

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SUIYA

 

The root of emotional regulation as I work with it is about initially disrupting an already established pattern that triggers an unwanted behavior repetiore, whether it's avoidance based or impulse based. In trading these hard wired patterns are vastly skewed toward fear based patterns. That's why my emphasis is so focused there. I'll get 10 fear cases to 1 impulse case. The major difference in working with people who have impulse problems is the amount of time invested in teasing apart the triggering mechanism of the established pattern of impulse.

 

There will be subtle (or not so subtle) antecedents before the on set of an impulse reaction. Most of these will go unnoticed because familiarity has moved them from the foreground of awareness to the background of awareness. As you learn how to slow down the process of the impulsive cascade, the person learns how manage the arousal of the emotion behind the impulse by disrupting elements within the chain of reaction.

 

The major way I use in decoding an impulse is by slowing down memory of an event so that with each sweep back through the memory, the linkage between the different elements becomes part of working awareness. Before the motivation of the impulse happens (attack), there will be a build up of emotional energy and the body will be cued for action. It is these that the client has to learn and have counter measures for. In addition there will be conditioned response to the triggering antecendent that disrupts the ramping up of energy (the impulse) in the neural circuitry.

 

In some cases it is simply biology that has run amok and simple mindfulness is applied as a safe guard. Other times meaning is a contributing factor to the maintaince of the impulse. I can't tell you how many traders have something to prove to someone (usually dead) about their worth, adequacy, mattering, or power that is at the root of the impulse. Other times the impulse is simply a piece of our biology that needs to be under better management.

 

What you cause me to consider here is actually building a learning system just for impulse. In speaking with you here, I've discovered that I have considered impulse to be a subset of fear (which it usually is). This is a bias that I need to examine.

 

Thanks

Rande Howell

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SUIYA

 

What you cause me to consider here is actually building a learning system just for impulse. In speaking with you here, I've discovered that I have considered impulse to be a subset of fear (which it usually is). This is a bias that I need to examine.

 

Thanks

Rande Howell

 

my pleasure if it adds to the discussion.....and I think that is largely what gosu is also talking about. While as JohnW mentions the calm exterior may still hide fear, sometimes an issue might be nothing to do with fear (unless of course you subscribe to the idea that fear and love is the base to EVERYTHING :))

Sometimes (Randes experience is 1 in 10) as you say it might be biology, it might be the extra chocolate bar, or beer at lunch..... regardless I appreciate that the mechanisms/process/solutions all seem to reside in similar methods to recognize and then temper the fear/impulse response.

(much the same as taking a breather before replying instantly to a thread on a forum that gets us riled up...:angry:, or even feeling like we need to have the last word ....not sure if that is driven by fear, :haha: or impulse :doh:)

thanks.

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[quote=SIUYA;130855 (unless of course you subscribe to the idea that fear and love is the base to EVERYTHING :))

.

 

exactly ... this is one of those big decisions that form the cornerstones of our lives ...and it is the basis of my view and my Wife's view on life... and yes it has been greatly tested and has grown stronger as a result.

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To all in the Developing Traders State of Mind group:

 

I just posted an article under Articles/Psychology whose title is

 

"If I KNOW How to Tade and Manage Rsk, Why Can't I Do It When the Money Counts?"

 

It is useful for the learning occurring in the course. It hasn't been vetted yet by TL so it's not got a link.

 

Rande Howell

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Finally got around to skimming some of the recent ‘argument’ postings -

 

The phrase “fear based patterns” is emphasized and all of a sudden we see all kinds of dancing around… we’re reminded that “fear can be useful” and that it’s “not the tremble in your boots type fear” necessarily, and “Fear is just not the overriding emotion in trading that it's made out to be” etc etc. Toss in a few dispersions about the “failures” seeking help in such services – when in reality most of (and certainly the best) clients of coaching and trading syschologists are already high in the pareto – and the whole thread is dragged back into a misguided focus.

 

Folks, a broad physical, mental, soul, and spirit orientation exists which is based in ‘creative opportunity based patterns’. About one percent of the human population currently ‘has got it going on’. At the ‘first body’ level / physically / neurologically the “amygdali” (and associated regions - actually every 'cell') literally do a habitual 180 in orientation (without loss of the threat based option when it’s needed, btw)…parallel shifts occur in other ‘bodies’, mental, etc … Globally, many previous identifications are simply (but not necessarily easily) dropped, etc.

 

This thread is for those who are interested in that. It is not for those who are interested in manipulating, explaining, surviving, etc. “fear based patterns”

 

All the best,

 

zdo

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Finally got around to skimming some of the recent ‘argument’ postings -

 

The phrase “fear based patterns” is emphasized and all of a sudden we see all kinds of dancing around… we’re reminded that “fear can be useful” and that it’s “not the tremble in your boots type fear” necessarily, and “Fear is just not the overriding emotion in trading that it's made out to be” etc etc. Toss in a few dispersions about the “failures” seeking help in such services – when in reality most of (and certainly the best) clients of coaching and trading syschologists are already high in the pareto – and the whole thread is dragged back into a misguided focus.

 

Folks, a broad physical, mental, soul, and spirit orientation exists which is based in ‘creative opportunity based patterns’. About one percent of the human population currently ‘has got it going on’. At the ‘first body’ level / physically / neurologically the “amygdali” (and associated regions - actually every 'cell') literally do a habitual 180 in orientation (without loss of the threat based option when it’s needed, btw)…parallel shifts occur in other ‘bodies’, mental, etc … Globally, many previous identifications are simply (but not necessarily easily) dropped, etc.

 

This thread is for those who are interested in that. It is not for those who are interested in manipulating, explaining, surviving, etc. “fear based patterns”

 

All the best,

 

zdo

 

Dear zdo

I understand I am only allowed to ask questions.!!

What the ..... are you talking about?? (devil)

 

Kind regards

bobc

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Dear zdo

I understand I am only allowed to ask questions.!!

What the ..... are you talking about?? (devil)

 

Kind regards

bobc

 

bobc,

 

...talking about potential for true health...

in 'trading', but not just in trading...

depending on the aspect perspective, it goes under different handles...

"effortless high performance", etc. etc.

What the ..... are you talking about?? ;)

To me, it's starting to look like past a certain point , "talking " can become an obstacle for participants.

 

re: "I understand I am only allowed to ask questions"

In the ideal only those who are active in the course would be posting in this thread...

but conversations about the underlying principles and issues being presented are not being censored.

Plus

:helloooo:

another new or existing thread is only a couple clicks away... same or new and different players would jump right in if you push the right buttons.

 

zdo

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Hi gosu,

 

In my homegrown mind, these People are completely disabled by fear ...yes they may meet their margin call but it is because they cannot face the reality of closing the position.... the pain is too great..... and I am not referring to money.

 

I do not see fearlessness in this action ....your choice of 'ignorance' in the sense that they have no idea how they truly function would be a more apt description.

 

What do you think they feared that they were disabled? Maybe they just liked to gamble and got a thrill out of it.

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Finally got around to skimming some of the recent ‘argument’ postings -

 

The phrase “fear based patterns” is emphasized and all of a sudden we see all kinds of dancing around… we’re reminded that “fear can be useful” and that it’s “not the tremble in your boots type fear” necessarily, and “Fear is just not the overriding emotion in trading that it's made out to be” etc etc. Toss in a few dispersions about the “failures” seeking help in such services – when in reality most of (and certainly the best) clients of coaching and trading syschologists are already high in the pareto – and the whole thread is dragged back into a misguided focus.

 

Folks, a broad physical, mental, soul, and spirit orientation exists which is based in ‘creative opportunity based patterns’. About one percent of the human population currently ‘has got it going on’. At the ‘first body’ level / physically / neurologically the “amygdali” (and associated regions - actually every 'cell') literally do a habitual 180 in orientation (without loss of the threat based option when it’s needed, btw)…parallel shifts occur in other ‘bodies’, mental, etc … Globally, many previous identifications are simply (but not necessarily easily) dropped, etc.

 

This thread is for those who are interested in that. It is not for those who are interested in manipulating, explaining, surviving, etc. “fear based patterns”

 

All the best,

 

zdo

 

zdo

 

Thank you. I will work more diligently to keep from getting suckered into these. Thanks for your leadership and direction.

 

Rande Howell

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zdo,

Do not go to South America with Mr. Jones/Randell

bobc

 

:rofl:

 

Thanks… but no need to go to S.A.

Could sit right here and ‘commit suicide without really trying’…

or

 

 

...

 

 

 

bobc twin, stop asking me to fkn talk to you ‘normal’

We don’t have time for that. :)

 

Are you thoroughly and gratefully dead?

How many times have you practiced dying?

How many times have you died?

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Week 3

Great session. Thanks, Rande.

 

In my view, this is some real breakthrough work in creating practical access to ‘normals’ for working with material that typically gets stuck in merely the 'theoretical'…

 

 

 

Hope Rande has some more material on “shadow” work - Those protective AND regressive tendencies in the background that thrust themselves into the fray when changes are implemented, etc. … I woke up to some of those this morning .

Maybe he has already covered it but I’m too slow to have realized what to do.

My love for myth, carl, and archetypes is higher than average by a good shot but somehow…some of us are on the blinder, muter, and deafer end of the scale with this ‘inner’ work… especially when it comes to emotions represented by inner ‘figures’.

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Week 3

Great session. Thanks, Rande.

 

In my view, this is some real breakthrough work in creating practical access to ‘normals’ for working with material that typically gets stuck in merely the 'theoretical'…

 

 

 

Hope Rande has some more material on “shadow” work - Those protective AND regressive tendencies in the background that thrust themselves into the fray when changes are implemented, etc. … I woke up to some of those this morning .

Maybe he has already covered it but I’m too slow to have realized what to do.

My love for myth, carl, and archetypes is higher than average by a good shot but somehow…some of us are on the blinder, muter, and deafer end of the scale with this ‘inner’ work… especially when it comes to emotions represented by inner ‘figures’.

 

zdo

 

What most traders come to recognize is that the Orphan archetype in its shadow form has been center stage in their trading. From there, ruler (discipline) and warrior (courage) have been serving the Orphan, which puts them in shadow form.

 

The 4 element course is way too short to made an in depth study of the shadow side of the archetypal energies. I recommend Carol Pearson's Awakening the Heroes Within. She also has a archetypal index called the pmai that I use with my individual clients. It's a powerful tool. It is the lack of awareness of self that gets traders in trouble.

 

Rande

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Thanks Rande.

I’m running a minor parallel analytical-like process along with the actual processes and questions come up like the following -

why just “orphan” as a starting state?

is mindlessness, in the ways you are using the term in the course, a key dynamic of “orphan”?

or is generalized mindlessness what makes it shadowy ?… ie I’m having some trouble understanding how orphan isn’t always in 'shadow' form (because it is a dev. stage, etc) ??…

 

Links relevant to the course for any of the other participants who are interested

 

honing in on flavors of ‘orphan’ etc.

The Agency of the Orphan: Archetypes | Anna Craycroft

 

orphan is preample to the hero’s journey. The first step in generalized hero’s journey is a separation from the ‘whole’ – separation from family, tribe, collective, normalcy, ( self ?) whatever…moving / developing is the ‘journey’ with its inevitable hazards and challenges… and the completion of the journey is a return to what the orphan/hero was separated from ( and also carrying something attained in the journey that the ‘whole’ needs…)

 

The ‘flavors’ of orphan that ‘move’ / develop

The Orphan Strikes Back: The Significance of Luke Skywalker's Orphan Origin, by Reihla

 

possibilities and stages of moving from ‘stuck’ orphan

Lost and Found: The Orphaned Hero in Myth, Folklore, and Fantasy by Terri Windling: Summer 2007, Journal of Mythic Arts, Endicott Studio

 

widening the context

Myss Library | Sacred Contracts | The Four Archetypes of Survival

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zdo

 

I intentionally force a square peg into a round hole. Archetypes make more sense if seen from an emotional point of view, where emotions are biological in nature and not psychological. Orphan in biological terms is our limbic system. It is this adaptation driven by fear that is at the core of moving from a fear based trading mind to a probability based trading mind. Our mindlessness to our Orphan nature is what keeps us trapped in self limiting beliefs from my perspective. The empowered side of Orphan is also where our resilency is rooted. Very necessary in trading. Most traders initially simply want to get rid of the Orphan, but it is rooted in our emotional brain so we can't. We can learn to re-grow it so that it becomes a working part of the team of the self. Developing Mindfulness, or awareness of our humanness, as we trade really opens up the possibility or reorganizing the self for more effective trading where our fear is detangled from uncertainty. This is where we can start developing a mindset to manage ambiguity.

 

Rande

 

Thanks Rande.

I’m running a minor parallel analytical-like process along with the actual processes and questions come up like the following -

why just “orphan” as a starting state?

is mindlessness, in the ways you are using the term in the course, a key dynamic of “orphan”?

or is generalized mindlessness what makes it shadowy ?… ie I’m having some trouble understanding how orphan isn’t always in 'shadow' form (because it is a dev. stage, etc) ??…

 

Links relevant to the course for any of the other participants who are interested

 

honing in on flavors of ‘orphan’ etc.

The Agency of the Orphan: Archetypes | Anna Craycroft

 

 

 

Rande Howell

orphan is preample to the hero’s journey. The first step in generalized hero’s journey is a separation from the ‘whole’ – separation from family, tribe, collective, normalcy, ( self ?) whatever…moving / developing is the ‘journey’ with its inevitable hazards and challenges… and the completion of the journey is a return to what the orphan/hero was separated from ( and also carrying something attained in the journey that the ‘whole’ needs…)

 

The ‘flavors’ of orphan that ‘move’ / develop

The Orphan Strikes Back: The Significance of Luke Skywalker's Orphan Origin, by Reihla

 

possibilities and stages of moving from ‘stuck’ orphan

Lost and Found: The Orphaned Hero in Myth, Folklore, and Fantasy by Terri Windling: Summer 2007, Journal of Mythic Arts, Endicott Studio

 

widening the context

Myss Library | Sacred Contracts | The Four Archetypes of Survival

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Possibly some of you may find these extracts of interest.

 

Krishnamurti on Fear

 

If letting go of fear of the unknown creates a perpetual state of curiosity, then everything from Trading to Rande's work and beyond has a natural tendency to fall into place.

Edited by johnw

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Hi zdo

...

What has happened to the four other participants in this exercise?

Maybe they dont understand Hayek?

 

Turns out I have the only "orphaned limbic system" on TL. Everyone else is healed.

 

I am also the only TL member who doesn’t understand Hayek…Mostly, I can’t seem to make the necessary connections between his various models.

Everyone else understands, so if you were to explain you would only be explaining it to one person.

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Possibly some of you may find these extracts of interest.

 

Krishnamurti on Fear

 

If letting go of fear of the unknown creates a perpetual state of curiosity, then everything from Trading to Rande's work and beyond has a natural tendency to fall into place.

 

Thanks johnw.

 

Excerpts from the link:

“The mind is the maker of fear “ …gonna have to call bs on that one

 

...paradoxically, I'm not calling bs on what follows that first quote

“(The mind is the maker of fear); and when it analyses fear, seeking its cause in order to be free from it, the mind only further isolates itself and thereby increases fear. When you use analysis to resist confusion, you are increasing the power of resistance; and resistance of confusion only increases the fear of it, which hinders freedom. In communion there is freedom, but not in fear."

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Thanks johnw.

 

Excerpts from the link:

“The mind is the maker of fear “ …gonna have to call bs on that one

 

...paradoxically, I'm not calling bs on what follows that first quote

“(The mind is the maker of fear); and when it analyses fear, seeking its cause in order to be free from it, the mind only further isolates itself and thereby increases fear. When you use analysis to resist confusion, you are increasing the power of resistance; and resistance of confusion only increases the fear of it, which hinders freedom. In communion there is freedom, but not in fear."

 

Granted, his work may not be easy to grasp ... but at least you have read the piece addressing fear.

Further on into his work, Krishnamurti addresses the subject of 'judgements'

Edited by johnw

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johnw ... on the subject of judgements, in my case Krishnamurti would be "preaching to the choir" :) ...

 

Related to the thread (and Rande can correct me if I'm off (or explain why) ) ... seems he uses the term 'assessments' instead of 'judgements' in the practical application work of the course...

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johnw ... on the subject of judgements, in my case Krishnamurti would be "preaching to the choir" :) ...

 

Related to the thread (and Rande can correct me if I'm off (or explain why) ) ... seems he uses the term 'assessments' instead of 'judgements' in the practical application work of the course...

 

OK, assessment it is then ...'gonna have to call bs on that one' is an assessment

'

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zdo

 

What most traders come to recognize is that the Orphan archetype in its shadow form has been center stage in their trading. From there, ruler (discipline) and warrior (courage) have been serving the Orphan, which puts them in shadow form.

 

The 4 element course is way too short to made an in depth study of the shadow side of the archetypal energies. I recommend Carol Pearson's Awakening the Heroes Within. She also has a archetypal index called the pmai that I use with my individual clients. It's a powerful tool. It is the lack of awareness of self that gets traders in trouble.

 

Rande

 

How much self-awareness does a person need to avoid trouble in the markets?

 

If a person knows all about orphans, rulers and warriors, and whether or not they are in shadow form, does it mean he has self-awareness?

 

More to the point, can a person extract from the markets without self-awareness?

 

 

In any case, I like how you admit that your 4-week course is too short and lacks "a powerful tool" you use only with your individual clients. I think that is called the "upsell" in marketing parlance. I'm sure if you offered it to zdo for free he would become your bosom buddy for life, or at least your ultimate shill. The "pmai" is it? To awaken the inner heroes? I think a pack of Yu Gi Oh cards does the same. I see the kids having a lot of fun with them after school at the local McDonald's.

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Low line color [defaults to: MediumSeaGreen]. Low line style [defaults to: Solid]. Low lien width [defaults to: 4]. Low minus 25% line color [defaults to: Lime]. Low minus 25% line style [defaults to: Solid]. Low minus 25% line width [defaults to: 4]. Local market open line color [defaults to: DodgerBlue]. Local market open line style [defaults to: Dashed]. Local market open line width [defaults to: 1]. Local market middle lines color [defaults to: DarkOrchid]. Local market middles lines style [defaults to: Dashed]. Local market middles lines width [defaults to: 1]. Local market close line color [default: Red]. Local market close line style [Dashed]. Local market close line width [1]. Local market open price color [White]. Local market open price style [Dot dashed with double dots]. Local market open price width [1].
    • A custom Logarithmic Moving Average indicator for MT5 is now available for MT5 on the Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/99439 The Logarithmic Moving Average indicator is a moving average that inverts the formula of an exponential moving average. Many traders are known to use logarithmic charts to analyze the lengths of price swings. The indicator in this post can be used to analyze the logarithmic value of price on a standard time scaled chart. The trader can set the following input parameters: MAPeriod [defaults to: 9] - Set to a higher number for more smoothing of price, or a lower number for faster reversal of the logarithmic moving average line study. MAShift [defaults to: 3] - Set to a higher number to reduce the amount of price crossovers, or a lower for more frequent price crossovers. Indicator line (indicator buffer) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors: No empty values; and No repainting.
    • A custom Semi-Log Scale Oscillator indicator is now available for MT5 on Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/114705 This indicator is an anchored semi-logarithmic scale oscillator. A logarithmic scale is widely used by professional data scientists to more accurately map information collected throughout a timeframe, in the same way that MT5 maps out price data. In fact, the underlying logic of this indicator was freely obtained from an overseas biotech scientist. A log-log chart displays logarithmic values on both the x (horizontal) and y (vertical) axes, which generally produces a straight line that points up, down, or remains flat. A straight line is not very useful for trading markets because such a straight line is so smoothed that actual price values that appear over time are very far away from the line study. In contrast, a semi-log chart is only logged on one axis--generally, the y axis. Such a semi-log chart is well suited for trading markets because the time (x) axis is preserved in its original form while at the same time, providing a graduated y scale where the distance between price increments progressively increases as price rises higher (and decreases as price falls lower). This allows us to establish a zero level for a low price, clearly view trends on straighter angles, and clearly observe amplified price spikes at high prices. Accordingly, this indicator employs a semi-log scale on the y axis only. This indicator is anchored because it allows you to specify a start time for calculation of price bars. The settings are as follows: Year.Month.Day Hour:Minute - defaults to 1970.01.01 00:01 - if left on default setting, the indicator automatically detects the earliest price bar in chart history--even where the year 1970 is not in history. Notes appear in the indicator settings window. Size of first pip step to log - defaults to 135 - this default is suitable for higher timeframes such a MN1 (monthly), while 5 is suitable for lower timeframes such as M1 (minute). Ultimately, optimal settings will depend on the timeframe that you attach the indicator to, the level of price volatility within that timeframe, and start time that you choose. Remember... The semi-log formula calculates from low to high, so your start time must always be a major swing low. Again, notes appear in the indicator settings window. The standard (built-in) MT5 indicators that can be applied to the "Previous indicator's data" can be applied to this indicator. Indicator lines (indicator buffers) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors. The log scale Open, High, Low, and Close prices are buffers: No empty values; and No repainting.
    • A custom Gann Candles indicator is now available for MT5 on the Metaquotes website and directly in the MT5 platform. https://www.mql5.com/en/market/product/126398 This Gann Candles indicator incorporates a series of W.D. Gann's strategies into a single trading indicator. Gann was a legendary trader who lived from 1878 to 1955. He started out as a cotton farmer and started trading at age 24 in 1902. His strategies included geometry, astronomy, astrology, times cycles, and ancient math. Although Gann wrote several books, none of them contain all of his strategies so it takes years of studying to learn them. He was also a devout scholar of the Bible and the ancient Greek and Egyptian cultures, and he was a 33rd degree Freemason of the Scottish Rite. In an effort to simplify what I believe are the best of Gann's strategies, I reduced them into one indicator that simply colors your preexisting price bars when those strategies are in-sync versus out-of-sync. This greatly reduces potential chart clutter. Also, I reduced the number of input settings down to only two: FastFilter, and SlowFilter Both FastFilter and SlowFilter must be set to 5 or more, as noted in the Inputs tab upon attaching the indicator to your chart. Gann Candles works on regular time-based charts (M5, M15, M20, etc.) and custom charts (Renko, range bars, etc.). The indicator does not repaint. When using the default settings, blue candles form bullish price patterns, gray candles form flat (sideways) price patterns, and white candles form bearish price patterns. The simplest way to trade Gann Candles is to buy at the close of a blue candle and exit at the close of a gray candle, and then sell at the close of a white candle and exit at the close of a gray candle.
    • A custom Anchored VWAP with Standard Deviation Bands indicator for MT5 is now available on the Metaquotes website and directly through the MT5 platform. https://www.mql5.com/en/market/product/99389 The volume weighted average price indicator is a line study indicator that shows in the main chart window of MT5. The indicator monitors the typical price and then trading volume used to automatically push the indicator line toward heavily traded prices. These prices are where the most contracts (or lots) have been traded. Then those weighted prices are averaged over a look back period, and the indicator shows the line study at those pushed prices. The indicator in this post allows the trader to set the daily start time of that look back period. This indicator automatically shows 5 daily look back periods: the currently forming period, and the 4 previous days based on that same start time. For this reason, this indicator is intended for intraday trading only. The indicator automatically shows vertical daily start time separator lines for those days as well. Both typical prices and volumes are accumulated throughout the day, and processed throughout the day. Important update: v102 of this indicator allows you to anchor the start of the VWAP and bands to the most recent major high or low, even when that high or low appears in your chart several days ago. This is how institutional traders and liquidity providers often trade markets with the VWAP. This indicator also shows 6 standard deviation bands, similarly to the way that a Bollinger Bands indicator shows such bands. The trader is able to set 3 individual standard deviation multiplier values above the volume weighted average price line study, and 3 individual standard deviation multiplier values below the volume weighted average price line study. Higher multiplier values will generate rapidly expanding standard deviation bands because again, the indicator is cumulative. The following indicator parameters can be changed by the trader in the indicator Inputs tab: Volume Type [defaults to: Real volume] - Set to Tick volume for over-the-counter markets such as most forex markets. Real volume is an additional setting for centralized markets such as the United States Chicago Mercantile Exchange. VWAP Start Hour [defaults to: 07] - Set according to broker's or broker-dealer's MT5 server time in 24 hour format. For example, in the New York, United States time zone, 07 is approximately the London, United Kingdom business open hour. VWAP Start Minute [defaults to: 00] - Set according to broker's or broker-dealer's MT5 server time in 24 hour format. For example, 00 is on the hour with no delay of minutes within that hour. StdDev Multiplier 1 [defaults to: 1.618] - Set desired standard deviation distance between the volume weighted average price line study and its nearest upper and lower bands. For example, 1.618 is a basic Fibonacci ratio. Some traders prefer 1.000 or 1.250 here. StdDev Multiplier 2 [defaults to: 3.236] - Set desired standard deviation distance between the volume weighted average price line study and its middle upper and lower bands. For example, 3.236 is 1.618 (above) + 1.618. Some traders prefer 2.000 or 1.500 here. StdDev Multiplier 3 [defaults to: 4.854] - Set desired standard deviation distance between the volume weighted average price line study and its furthest upper and lower bands. For example, 4.854 is 1.618 (above) + 3.236 (above). Some traders prefer 3.000 or 2.000 here. VWAP Color [defaults to: Aqua] - Set desired VWAP line study color. This color automatically sets the color of the start time separators as well. SD1 Color [defaults to: White] - Set desired color of nearest upper and lower standard deviation lines. SD2 Color [defaults to: White] - Set desired color of middle upper and lower standard deviation lines. SD3 Color [defaults to: White] - Set desired color of furthest upper and lower standard deviation lines. Just to clarify, popular standard deviation bands settings are: 1.618, 3.236, and 4.854; or 1.000, 2.000, and 3.000; or 1.250, 1.500, and 2.000. Examples of usage *: In a ranging (sideways) market, enter a trade at the extremes of the standard deviation bands (SD3) and exit when price returns to the VWAP line study. Trade between SD1Pos and SD1 Neg, alternately buying and selling from one standard deviation line to the other. In a trending (rising or falling) market, enter a buy when a price bar opens above the VWAP line study, and exit at the nearest standard deviation band above (SD1Pos). Optionally, repeat the same trade but substitute SD1Pos for the VWAP, and SD2Pos for SD1. Reverse for sell; or Trade all lines (VWAP, SD1Pos, SD2Pos, and SD3Pos) in the same way. Again, reverse for sell. Indicator lines (indicator buffers) can be called with iCustom in Expert Advisors created by Expert Advisor builder software or custom coded Expert Advisors: No empty values; and No repainting.
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