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Futures and Forex
FX Filters, and Stops
Last Activity 10/14/2018 7:16 PM
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forexgeo

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Subject : FX Filters, and Stops
Posted : 7/26/2011 1:24 PM
Post #24679

Hi all,
I've asked this on another thread, but can't find it to see if anyone replied. I am working on a filter block that is based on the slope of an EMA. The question is how to quantify it in a way that will translate into OT. The ideal measurement would be degrees. I figured I can adjust a degree to the finest detail to confirm if I want to enter a trade. My thinking goes something like this: If EMA(21)>90degrees and =< 120 degrees signal equals long signal. I only remembered the math formulas because that was what was required. I never had a math teacher who explained any application other than taking their test, so please be patient with me on the math stuff. If you want to suggest what I need to study to focus specifically on this idea I would like to learn. Is it as simple(not easy) as implanting the formula into the code? Can I calculate the EMA slope of a single candle?
I am having an interesting time with my stops. Most my disappointments are in trades I wouldn't have entered if I had the filter mentioned above. I notice I can't calculate my stops based on a specific pip value. Say a stop at 10 pips from the strike, and then a trailing of 5 pips from the current. Any advice would be greatly appreciated in general, but setting stops is a challenge given I need to find another variable to adjust.
Thanks in advance George
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julesrulesny

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Subject : RE: FX Filters, and Stops (EMA Slope)
Posted : 7/26/2011 4:38 PM
Post #24680 - In reply to #24679

Well, you can start with using Linear Regression Slope. I believe this may give you an alternative as opposed to slope of the EMA. But adjusting the degrees, I wouldn't know how to do this..

Slope is equal to the rise/run ..

There was a brief discussion relating to this in the OT Pro forum
www.omnitrader.com/omnitrader/proforum

Tho I can't recall exactly where it was. If I find the link, I'll post it. But that won't give you the answer. the question was just related to using Gann Fanns and creating an indicator based on degrees, slope.. so its in line with your question though.

But, I do think your question is possible. Being that we have the slope of a linear regression mov avg indicator.

However, if you do not own OT Pro, this can not be done. Unfortunately. You need the access to OmniLanguage to code your own indicator.

On the other hand, creating the code in Omniscript as you wanted to, to be used in a Filter Block.. hmmm might be possible, but I'm not sure and wouldn't know how.. give it time, someone may read this thread and give you additional feedback..

I'm currently completing a Math degree myself - If I can figure out this code for you, would you want to do my Homework?? LOL!

Oh and not many OT users use OT for Forex. So its always nice to see someone else trading FX with OT. There are some, but more OT FX traders would be better. So, I would love to hear any other feedback, suggestions you may have to using OT with FX.

Best -

[Edited by julesrulesny on 7/26/2011 4:41 PM]

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Jim Dean

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Subject : RE: FX Filters, and Stops (EMA Slope)
Posted : 7/26/2011 6:30 PM
Post #24683 - In reply to #24680

Please read these extensive discussions about this ... the question has been asked, in one form or the other, many times before:

http://tradetight.org/forums/thread-view.asp?tid=422

http://tradetight.org/forums/thread-view.asp?tid=423

http://tradetight.org/forums/thread-view.asp?tid=293

I'm pretty sure you'll find some concepts in there that will help.
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forexgeo

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Location: seattle

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Subject : RE: FX Filters, and Stops
Posted : 7/26/2011 7:31 PM
Post #24685 - In reply to #24679

Thank you Jules and Jim. The friend who introduced me to OT said anything I can think of can be done. I am pretty determined to test this out. Still very new to figuring out how. Finally over being intimidated by it all, but it sure is taking longer than expected to get this off the ground. Thanks again! I only know one person who has any interest in this, or our economic state, so anyone sincere dialogue is appreciated. G
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