Thoughts on Day/Swing Trading

[keerthi405]

@AFL experts,
Help requested for AFL formula for drawing 30min-5ema, Hourly-5ema & Daily-5ema lines in 5min chart (all 3 emas in same 5min chart). If possible selection required for previous or present bar of 30min/Hour/Daily (like "EOD" or "Next Day" for daily).
Regards,
Keerthi

 

[murthyavr]

@AFL experts,
Help requested for AFL formula for drawing 30min-5ema, Hourly-5ema & Daily-5ema lines in 5min chart (all 3 emas in same 5min chart). If possible selection required for previous or present bar of 30min/Hour/Daily (like "EOD" or "Next Day" for daily).
Regards,
Keerthi

Please look for TIMEFRAMECOMPRESS under Amibroker Help. They have an example also, on moving average for different timeframes. Hope this helps you.

 

[Smart_trade]

Hello ST,
I have a small request.

So far we have been using 5 min chart to take the trading decisions. Could you please clarify how to use 30 mins,daily and weekly charts to take trading decisions along with 5 minute charts? It will be so helpful for the learners like me.

Please post few charts and explain when your time permits.

Thanks much for your valuable time

Bala

The chart timeframe needs to be decided on the kind of trading we intent to do. A 30 min timeframe is very good for swing trading and 5 min for day trading and daily timeframe for position trading.

One can also combine two timeframes and take trades on multiple timeframes signals.So one can use daily as a larger timeframe and trade 30 min in the direction of trends in daily for swing trades or use 30 min as a larger timeframe and trade 5 min bars in direction of 30 min trends for daytrades.

Will post some examples on the above soon...

Smart_trade

 

[keerthi405]

@ Murthyavr,

Your guidance for my request was quit useful. Working fine. Thanks for the same.

In 5min chart 5day EMA value is showing yesterday's (EOD) close data. How to get to-days's 5Dema value (dynamic till end) in 5min chart?

Your help will be highly appreciated.

Regards,
Keerthi

Please look for TIMEFRAMECOMPRESS under Amibroker Help. They have an example also, on moving average for different timeframes. Hope this helps you.

 

[murthyavr]

@ Murthyavr,

Your guidance for my request was quit useful. Working fine. Thanks for the same.

In 5min chart 5day EMA value is showing yesterday's (EOD) close data. How to get to-days's 5Dema value (dynamic till end) in 5min chart?

Your help will be highly appreciated.

Regards,
Keerthi

Off-topic posts, I am afraid, may spoil the continuity of ST's thread.

I don't think I understood your requirement completely. Anyways, I suggest you post your requirement in Amibroker section of this forum. That would be the right place..

PS: Please get your PM activated!

 

[EagleOne]

Hi ST
Been little busy lately, so missed your many posts. Your INSIDE STORY and WHAT MAKES MARKETS TO GO UP are gems. Very insightful, very precise. Thanks a million.

Take care

 

[Smart_trade]

Multiple Timeframes Trading

Multiple time frames trading has been around for a long time. Traders like Late Robert Krautz and Alexander Elders have done wonderful work on this concept.

The basic concept is find out a trend on larger time frame and take all trades in that direction in smaller time frames. So if our trading time frame is 5 min and larger time frame is 30 min, if 30 min trend is bullish, take all long trades on 5 min time frame and book profits. We do not take any trade in short side.
The larger and smaller time frame generally should have a ratio of 5:1 between them. So if we trade daily time frame, our larger time frame should be weekly time frame. If we trade 5 min time frame charts, our larger time frame to decide the direction we are going to trade is 30 min.

The top chart shows bank nifty futures 30 min chart. This chart is in uptrend....so we take all long trades in the 5 min time frame lower chart and go flat when the market is in sideways mode but we don't take a short trade on 5 min time frame as long as the 30 min trend is up......

This concept helps us to take all impulsive moves and stay away in corrective moves. The trades taken in the direction of larger time frame are likely to be strong and more profitable trades ,and we ignore small ,marginal and frustrating anti trend trades ,stacking the odds in our favour...

Smart_trade

 

[sibumajumdar]

Mr ST,
Referring your post no 237...Not understood 1st exit ( black line ) around 10890...rest of the entry & exit is clear...Your elaboration on that point will make the things clear...tahnx in advance.

 

[Smart_trade]

Mr ST,
Referring your post no 237...Not understood 1st exit ( black line ) around 10890...rest of the entry & exit is clear...Your elaboration on that point will make the things clear...tahnx in advance.

Long positions are held till end of the day......as I am showing 5 min TF day trade examples, we should close our position on last bar of the day .....because it is a daytrade.

Smart_trade

 

[anuragmunjal]

gif upload

hi ST
your way of trading intrigues me... I have pasted 30 min chart of euro/inr . I have drawn two lines on it. (though technically this is a wrong example becos the second low does not breach the first low, saved by 3 ticks...but hypothetically speaking, if it did, I would have been out on the next high) I understand that a filter can save me in such circumstances..but would like to know from you if there is another way to guage that this is a sideways movement in a downtrend..

regards

ps I am not very good at charts, hence wd request u to be a little patient with me -