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I just looked at your pictures and noticed that you used 40 Points on the MC chart opposed to 4 Range on the NT. Have you tried 4 Points with MC yet? In comparison 40 points would be as in 5-digits, as now usually in spot forex.
I use IQFeed (live) and my charts are exactly the same when I use NT 4 Range and MC 4 Points. Look at the posted picture.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
Not to take away from Perryg or others, but using my understanding and the way I attempt to trade Perry's method, is that you have only one possible setup bar - the second one. BUT, is the bar touching the EMA5? Again, my understanding is that the EMA 5 must be "going up" for at least two bars (the bar does not have to be above the EMA (5) or it will not meet the criteria - could be wrong here) and the setup bar LOW must be LESS than or Touching the EMA (5) and the setup bar high must be greater than the EMA (20), which itself should be (blue) (green).
So, from my perspective of your chart posted above, neither are setup bars, although, the second bar annotated could be argued as a setup bar. Again, I am only giving my understanding of the method, so I look for the setup bar LOW to be less than the EMA (5). Yes, this keeps me out of some good trades (such as the one you show - a few ticks), but I for one can't decern what is touching unless the low is a "tail" on the bar. Just me though.
Also, remember that for any to be a setup bar, they must also meet other criteria of the other indicators for confirmation purposes. The most important is the price action - first an for most.
I certainly hope others will chime in and correct me if I am wrong.
@perryg I hope this post finds you and your family well. Again, I and many others would humbly appreciate your time and effort to put together a short webinar here on nexusfi.com (formerly BMT). For me anyway, it would help to solitify the method. Thanks for everything perry, I have learned much from you in this thread.
Curious for anyone trading this semi-successfully, and that is, "what does profit look like?" By that I mean how would you trade a typical day?
Is the goal just to hit 1 or 2 quick wins and quit for the day, do you trade many times throughout the day? Do you trade differently depending on what is going on?
Thank you so much for the detail explanation, I understand that the second one on the chart was not less than EMA5, clearly it is not setup bar, but regarding to the statement <EMA 5 must be "going up" for at least two bars>, it is still an ambiguous statement, I think the bar can be close above or below EMA, or breakout EMA, I just don't understand why" EMA can go up bars?" , any grammar mistakes?
sorry for the confusion, do you mean after EMA5 turning up, and then you get 2 green bars, and then one what touches or less than EMA5 is the setup bar?
forrestang is correct. the EMA (5) must literally be moving in an upward direction at least two bars, then, the second bar becomes the setup bar - while adhering to the other criteria (referring to method 1 Long Setup).
And yes, the 8R can be a great filter for Perry's Method.
