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EURUSD 6E Euro
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EURUSD 6E Euro

  #1171 (permalink)
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Changed Normalization of MACD, Long Setup for $EURUSD

This is not the subject of the thread, but I need to correct what I have said above about the normalization of the MACD. The normalization of the MACD with an EMA of the true range was not really satisfactory. The EMA attaches a greater weight to the last data point, and therefore is not as smooth as a SMA. I have also replaced the true range with range, the normalization formula is now


 
Code
if(FirstTickOfBar)
{
       normfactor  =  SMA(Range(), k * compositePeriod)[1] * Math.Sqrt(compositePeriod)
}

macdValue =   macdValue / normfactor ;


where k is an integer (I typically use 20), the compositePeriod is the factor used to obtain the composite bar period from the chart bars. The square root term is needed because I use the volatility from the lower timeframe to normalize the higher time frame MACD.

Example below: The chart shows 5 min bars. The MACDs are calculated from composite bars with composite periods of 1, 2, 4, 8 representing 5 min, 10 min, 20 min and 40 min bars. For normalizing the volatility of the 5 min bar is used. For the larger timeframe MACDs the correctional square root term is applied, to avoid that the larger time frame MACDs are oversized.

The result is an MACD, which usually oscillates between -150 and + 150 for all instruments and timeframes. This is just in case that somebody wants to use that normalization.


Long Setups for the $EURUSD This Morning

The chart below shows a long setup. The 30 min MACD (gold) is above the 60 min MACD (medium violet red). At 7h00 in the morning (1:00 AM EST), all histograms went positive. During the next hours the upmove came as expected.

The chart looks crowded, but it is simple. Two longer MACDs as trend filters. The trendfilter is either long, short or neutral. If it is neutral, you do not trade. Two shorter MACDs for entry timing.

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Last edited by Fat Tails; April 24th, 2012 at 07:09 AM.
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  #1172 (permalink)
Big game hunter
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Price did find some suuport at the demand level / 3150 area . Maybe we'll get a HH and uptrend up to 3250/3300 (?) .

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EURUSD 6E Euro-snapshot-701.png  
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  #1173 (permalink)
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Looking to sell 13228 ADR=80...13148+80=13228, profit target 13188, stop 13253 and subject to change.

Trader

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  #1174 (permalink)
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Family Trader View Post
Looking to sell 13228 ADR=80...13148+80=13228, profit target 13188, stop 13253 and subject to change.

Trader

Hope you get filled short asap . My longs target is 3214 .

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  #1175 (permalink)
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Looking to sell 13228 ADR=80...13148+80=13228, profit target 13188, stop 13253 and subject to change.

Trader

Order cancelled. Dynamics change after 11 EST. Volume drops off a cliff, with few exceptions.

Nice out, EricJ

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  #1176 (permalink)
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Looking to sell 13228 ADR=80...13148+80=13228, profit target 13188, stop 13253 and subject to change.

Trader

Still doesnt sound like an unreasonable trade albeit a late day trade it would seem .

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EURUSD 6E Euro-snapshot-709.png  
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  #1177 (permalink)
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yes I like this for a short... maybe down to 1.3137 area

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  #1178 (permalink)
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The steeper trendline channel is getting chaffed by the price . And the older one sure looks like its pushing price up . This week would have to close lower than the last couple weeks or so to stay bearish , maybe gonna see some wide ranging day(s) to finish the week ?

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EURUSD 6E Euro-snapshot-713.png  
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  #1179 (permalink)
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Here is 4 hr with a better view of what I am saying
no idea if .3204-.3225 area will hold again but seems overextended in that area

Currently I would say (worth less than 2 cents due to inflation)
W = Bullish
D = Bear
H4 = Bear
H1 = Bear
5 second = Batty

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  #1180 (permalink)
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websouth View Post
Here is 4 hr with a better view of what I am saying
no idea if .3204-.3225 area will hold again but seems overextended in that area

Currently I would say (worth less than 2 cents due to inflation)
W = Bullish
D = Bear
H4 = Bear
H1 = Bear
5 second = Batty

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5s batty , I like that . Its good for seeing when my dealer gets a big fill / volume , but thats another one I never figurred out how to exploit profitably . The other is guessing wheres next . Hey @websouth , I like the venus --> mars price trip concept . Very Gio-esque LOL .

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