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I'm looking for a tool to perform some discretionary backtest in multiple time frame mode. I have seen that there are several "gadgets" in metatrader which the platform that I use, but I don't know if there is a software focused in that task.
Thanks in advance
Can you help answer these questions from other members on NexusFi?
the over complication and filtering of multiple time frames leaves you with little more than a seemingly good idea in the end.
simple the fire will burn you! need you stick your hand in to learn? it is a futile endeavor because what your left with is nothing worth trading. the whole move is gone by the time you filter down. show me one fully mechanical model "that has even a hypothetical" that shows profitability doing this with reasonable historical stats. this is a dynasaur idea which like many things sounds good and logical but has no substance at all. i spent about 10 years on it but maybe i didn't turn over every rock in the universe. i could create a model which actually does this and everyone would ooh and ahh but it would be full of tricks that would only come to light when real money is applied.
range bars and momentum bars are the keys to the kingdom because they care not about time, which btw is the enemy of everything except the human emotion of reminiscing. which is what we need to do with multiple time frame ideas, rest them in your mind as being much greater than they actually ever were.
The multiple time frame requirement is because I would like to check in that moment a higher timeframe context. In addition, to perform a better entry I would check the 5 min chart.
totally understood that concept 40 years ago. to date anyone proved the concept in a mechanical fashion that can be independently tested and proven to have worked? it's exactly like elliot wave theory, seems logical but doesn't work mechanically.
mark brown
ps it should be noted to prove it will not work - i will state it will work on a discretionary basis every time most likely. because we see and believe what we desire.
I will glance at your approach which I have never used.
I was trying to explain the way I wanted to perform the backtest(not found in metatrader which is the platform I have used), not a way of trading which I know is widely used/known. I am also improving my English and my writings can be meaningless.
do a google search for this " Dr. Alexander Elder's Triple Screen Trading System " and there you will be able to exhaust your desires on this hopeful subject. i understand the human mind to obsessively pursue an endeavor no matter how unfruitful it maybe. if your like me you could wind up searching for 40 years to find that you always had what you were looking for in the first place.
I stumbled upon this discussion with your posts regarding multiple time frames and found them to be very interesting, especially about the amount of time you spent pursuing other approaches before settling upon using momentum and range. The reason I am writing to you, is because I was hoping you might have some educational resources you would be willing to share. Do you have particular books, sites, or anything like that which would help someone learn more about the method you suggested?
I will use Google and known trading sites to research, but there is so much BAD information available, it would be nice to have a few suggestions to find "hopefully better" information.