ChartMURREY MATH lines

#1
The Murrey Math system is not a crystal ball, but when implemented properly, it can have predictive capabilities.
Because the Murrey Math rules are tied to the Murrey Math geometry, a trader can expect certain pre-defined behaviors in price movement and this makes Murrey Math lines from my own humble perspectiveis, a true and powerful leading indicator. By recognizing these behaviors, a trader has greatly improved odds of being on the correct side of a trade. The overriding principle of the Murrey Math trading system is to recognize the trend of a market, trade with the trend, and exit the trade quickly with a profit (since trends are fleeting). In short, "no one ever went broke taking a profit" :D
A-02.10.19.jpg
C-02.10.19.jpg
B-02.10.19.jpg


Re: MURREY MATH lines

#2
An now lets see true things in action, trading and trying to understand as much as possible on how actually Murray Math lines works and how to use it.
Attached it is a very well know drawing, but mostly ignored! Most probably there it is a reason :P
We should take this graph representation into account and relaying on it so lets see from where to start!
But, again! MM-line is not a crystal ball, it can have predictive capabilities and we can expect certain pre-defined behaviors but lets see ...
The squares are marked by my self as points of maximum interest and where actually we should look for entry opportunities.
murrey_math_levels_1.png
Murrey_Math_lines.mq4
(22.57 KiB) Downloaded 1097 times

Re: MURREY MATH lines

#3
The trading sequence followed here for entry is the marked A,B,C. where C is the entry point and D the possible targeted area (line) TP
Murrey Math lines can change position and their attribute in time so you may be aware of this aspect as well if following and trading with it
murrey_math_levels_sequence.png
03.10.2019-MM.png

Re: MURREY MATH lines

#5
Some trades are just simply making you to feel on the verge of ecstasy. On the other side the oposit it is on the corner just waitning for any mistake...
aaaaaa.png


Re: MURREY MATH lines

#6
Another beautiful trade but this time on the Hang Seng Index (HK50).

Yes, you might be considering as well trading opportunities on CFDs also, but be aware.
I just learned as well recently and it is an aspect that I would like to share: You can diversify your trading strategies across uncorrelated instruments and you can take advantage of opportunities that the global equities markets offer, and on index CFDs, but since the brokerage firm that are offering CFDs are not going to commissioning your trade on such indexes, even if you have a raw spread account, without a dealing desk or commissioning you are going to have SPREAD (AND NOT A SMALL ONE). Yes, that is how I was surprised as well.

Otherwise, if you take this into account on your trades it is not a problem but you have to be aware of this aspect also!
And just as an example on HK50 we had on this morning a spread of 700 and by noon already around 900-950 (on ICMarkets-broker - raw spread account).

(HK50), Hang Seng Index, is a market capitalization-weighted stock market index to record the daily changes of the 50 largest companies present at Asia’s second (and the world’s sixth) largest stock exchange, the Hong Kong Stock Market (HKEx). HSI (HK50) is the major indicator of the overall Hong Kong market performance.
2019-11-28_14-22-42.png

WorkRe: MURREY MATH lines

#8
ruudboss wrote:
Fri Nov 29, 2019 12:39 am
How to deal with the repaint?
Well, holy grails don’t really exist. It often takes traders some time to learn this lesson and there is no approach or indicator that will allow you just to cash in, no matter what the analytical method is being used. Trading is about probabilities and attempting to get them in your favor as much as possible. And the MM (Murry Math) lines or price levels can be considered a reliable technique for market estimation. And not just from my point of view!

Murrey`s price levels are used seldomly, but after gaining insight into MM's technique, it`s possible to substantially increase the effectiveness of practically any trading system. And the MM lines do not repaint! The Murrey match lines are similar to pivot points and Fibonacci retracements.

MML is based on a simple way to implement Gann angles used to measure key elements, such as pattern, price and time.

And as the market conditions modify, at different time periods and different conditions the MM lines are recalculated accordingly, describing the present moment and possible expectations based on the past. Yes, and as the conditions start to modify the MM lines recalculate so that the trader to adapt its strategy to the present time!

You always can get an alert when this happens and to reevaluate your analysis. Is this do not sound absolutely normal!? holy grails don’t exist!!

Re: MURREY MATH lines

#10
Here is a simple code to plot the candlesticks in the NinjaTrader or eSignal style.
After you apply this indicator, change the settings in Properties (F8) Bar Up/Down, Bull/Bear Candle to None and the color scheme "... on White".
You'll have the candles displayed with the shadows (wicks) black and candle bodies (themselves only)

property copyright "Copyright © 2004, MetaQuotes Software Corp.
property link: http://www.metaquotes.net
NinjaCandlesticks.ex4
(10.13 KiB) Downloaded 429 times
ninja.png


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