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Deadly combination of 34 and 8 .(Js)
| From : Jagmohan Singh at 09:16 PM - Feb 23, 2010 (24 months ago) |
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Sir ,
Thank you for all your valuable inputs.
Some more points that may be considered while
using 8 and 34 emas.
In the middle of a rally , if the distance between them
increases or decreases gives an indication of a continuing
rally.With other leading indicators one can stay longer and
make the most of a medium to long rallies.
One has to keep in mind high volatility and large price moves with
low volumes .
Keep stoploss and trailig stoploss in place always for any sudden and sharp
breakdowns and reversals.
This is my view.I may be wrong.
dear all, this method was one of the first ones i used. this post is 2 years old.
presently i don't use this as it is. i primarily use rsi and william%r besides a few more indications.
this is a good method for secondary support / consultation.
though it can be used as a primary trading tool, but gives lot of whipsaws during ranges and mid-rallies. and since it is not known beforehand when a rally will pause or when a ranging will start and end, this method, solo, leaves u alone many times.
at that time, i had modified it again and again, sometimes using only 8 ema, sometimes onlt 34 ema, sometimes using it with rsi,...........the results were encouraging.
but frankly, i have not been using this since more than a long long time.
if i must advice then i will say
- don't use this blindly
- don't use it alone. use some indicator alongwith.
- use this for a broader advice, consultation
- be aware whether u r in ranging or trending market.
still, this is one of the easier methods and one of the first footholds for any new comer in the slippery territory of trading.
one thing more, if price is below an ema (say 34) it must make you think atleast once about the possibility of a down pressure, and vice cersa. ema is a mathematical message that says something important aboutt he present.
thank u for brething life into this thread again.
u r all invited to share ur thoughts and ideas here for the benefit of all including urself. knowledge actually multiplies when shared.
there is already a lot of discussion hidden in this long thread. do read that to see what all has been discussed.
js
Jagmohan ji
Can you please suggest any other indicators if combined with it can give more effective results. and what should be there period timeframe
A) When price cuts EMA 34 from below, Buy.
Square off when it cuts EMA 8 from above.
I think one more condition is EMA 8 should be above EMA 34.
While selling EMA 34 should be above EMA 8.
Jagmohan sir can you please tell me the present values of 8 ema and 34 ema in respect of nifty. Also suggest some site where I can find instant values of above 2 emas for nifty. Thanks
JS ji, May I know, the success ratio of your ema trading strategy ? After your response I would like add few more factors to be observed along with your dual ema & price cross over, if you permit. Thanks.
This Message is deleted by Harman Preet.
This golden thread needs to be reopen...can we discuss nifty based on the given set??
This Message is deleted by Shyam Thapa.
Thx Ranjit
For the afl but seeing the results on the excel and from the afl the results are not getting identical can you check @ ur end also
Jai Ganesha
hi, i am new.pls anyone explain with examples.thanks in adv.
Dear Akshat bhai / Julius ji/ and abv all Jagmohan ji..
Pls chck this
_SECTION_BEGIN("8-34 EMA Channel");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
A = EMA( H,8 );
B = EMA( L,8 );
x= Ref(A,-34);
y= Ref(B,-34);
D=.0009;
xt=x+x*D;
xb=x-x*D;
yt=y+y*D;
yb=y-y*D;
/* Buy or Sell Condition */
Buy = Cross(Close,xt);
Sell = Cross(yt,Close);
Buy = ExRem(Buy,Sell);
Sell = ExRem(Sell,Buy);
Filter = Buy OR Sell;
/* Exploration Parameters */
AddTextColumn( FullName(), "Company Name" );
AddColumn( Buy, "Buy", 1 );
AddColumn( Sell, "Sell", 1 );
AddColumn( C, "Close", 1.3 );
AddColumn( H, "High", 1.3 );
/* Plotting the Channel Cloud */
PlotOHLC( 0,xt,xb,xb ,"",colorBlue, styleCloud);
PlotOHLC( 0,yt,yb,yb ,"",colorBlue, styleCloud);
PlotOHLC( 0,xt,yb,yb ,"",colorRed, styleCloud);
Title = EncodeColor(colorWhite)+ "8-34 EMA Channel Trading System" + " - " + Name() + " - " + EncodeColor(colorRed)+ Interval(2) + EncodeColor(colorWhite) +
" - " + Date() +" - "+"\n" +EncodeColor(colorRed) +"Op-"+O+" "+"Hi-"+H+" "+"Lo-"+L+" "+
"Cl-"+C+" "+ "Vol= "+ WriteVal(V)+"\n"+
EncodeColor(colorLime)+
WriteIf (Buy , " GO LONG / Reverse Signal at "+C+" ","")+
WriteIf (Sell , " EXIT LONG / Reverse Signal at "+C+" ","")+"\n"+EncodeColor(colorWhite)+
WriteIf(Sell , "Total Profit/Loss for the Last Trade Rs."+(C-BuyPrice)+"","")+
WriteIf(Buy , "Total Profit/Loss for the Last trade Rs."+(SellPrice-C)+"","");
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
_SECTION_END();
FRIENDS HAVE CREATED A AFL ONT HIS STRATEGY, NEED SOME REVIEWS ON THE SAME, IS THE AFL ON THE RIGHT TRACK OR NOT.....
http://www.mudraa.com/trading/95964/0/-afl-need-helpdeadly-combination-of-34-and-8-.html
HERE IS THE OPEN THREAD, PLZ DO POST YOUR VIEWS
JAI GANESHA
NO POSITION SHOULD B OPEN AS PER THIS STRATEGY AS THE SL HIT ON 14 JULY FOR THE POSITION TAKEN ON SHORT FROM 12 JULY
IF ANY ONE WANTS TO TAKE HIGH RISK THAN HE CAN SHORT WITH SL OF 5596 SPOT ON CLOSING BASIS
This Message is deleted by Chetan Sachwani.
&
A wonderfum stratedy sir, indeed very impressive..........
Sir I was back testing this strategy and found that from 13 july 2011 till the closing on friday the 15 of july 2011.......
8 ema is giving a sell signal
&
34 ema is giving a buy signal,
No proper one sided sell signals or buy signals are being generated....... In this case what should one do, get aside and wait for proper sell or buy signal, as per if one sees Nifty in these 3 sessions have touched the targets also and the stop loss are hit also after or before hitting the targets on screen which are the 34 emas.........
Please give some light on what has to be done when the 8 ema is a sell signal and 34 ema is a buy signal......
Thanks a Lot
Jai Ganesha
Hello Julius sir,
Could you please send me the 34,8 cut price exce link to down load.
One more thing based on excel if one shows Red and the other in Green (8,34 EMA and vice versa) means what should i do?
I appreciate your help and thanks in advance.
This Message is deleted by Baburao Kandunuri.
JULIUS SIR CAN I SHORT NIFTY HERE WITH SAME SL?
SYSTEM - Follow Up From July 12, 2011
System Short From 5544-
SL for 13/07/2011@5605+
*Spot Price.
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