Attacking the problem of different timez
I know, this is a big topic.
Disclaimer: The following advice is not the opinion of Mouteki. You will be following a "sect" in this thread. Might be worth a look, but be warned.
Okay, that's the idea. Due to different time zones (i.e. different candle settings) we had difficulty finding the same entries as other disciples, which annoyed us all. On top of that, I personally often get annoyed that sometimes I see a breakout happening and I still have to wait 1-2 hours until the actual candle ends.
How to avoid it?
Let's go back to the root cause: Mouteki tells us we need H4 to avoid noise/aliasing. I think we can all agree on that.
But what do we actually do? We draw a fractal based on the H4 candle chart, that is, the fractal is the extreme value (high point/low point) in the middle of 2 candle lines, which are less extreme. This means that we want this candle to be the extreme value within the 8 hours before and after this candle.
So assuming we change the rules of the fractal from 2 to for example 8 candles, we can shorten the time for example H1 and our trendline will still have a very similar slope. However, the entry may now be after an H1 candle. We will avoid time zone issues and we will have more straightforward entries.
Theory, dry theory, or is it?
I tried it. What did I do? I took our beloved mouteki2.mq4 and changed it so that fractals are now drawn accordingly. Then I did some comparisons. Between the classic mouteki2.mq4 on H4 and the new mouteki2X.mq4 on H1, voila. Judge for yourself:
Disclaimer: The following advice is not the opinion of Mouteki. You will be following a "sect" in this thread. Might be worth a look, but be warned.
Okay, that's the idea. Due to different time zones (i.e. different candle settings) we had difficulty finding the same entries as other disciples, which annoyed us all. On top of that, I personally often get annoyed that sometimes I see a breakout happening and I still have to wait 1-2 hours until the actual candle ends.
How to avoid it?
Let's go back to the root cause: Mouteki tells us we need H4 to avoid noise/aliasing. I think we can all agree on that.
But what do we actually do? We draw a fractal based on the H4 candle chart, that is, the fractal is the extreme value (high point/low point) in the middle of 2 candle lines, which are less extreme. This means that we want this candle to be the extreme value within the 8 hours before and after this candle.
So assuming we change the rules of the fractal from 2 to for example 8 candles, we can shorten the time for example H1 and our trendline will still have a very similar slope. However, the entry may now be after an H1 candle. We will avoid time zone issues and we will have more straightforward entries.
Theory, dry theory, or is it?
I tried it. What did I do? I took our beloved mouteki2.mq4 and changed it so that fractals are now drawn accordingly. Then I did some comparisons. Between the classic mouteki2.mq4 on H4 and the new mouteki2X.mq4 on H1, voila. Judge for yourself:
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