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Murrey Math system

This is a discussion on Murrey Math system within the General Discussion forums, part of the Trading Forum category; Hi ND/Igor, Request to share your valuable view on this. How far this is benefited? Which BEST way we can ...

          
   
  1. #1
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    Murrey Math system

    Hi ND/Igor,

    Request to share your valuable view on this. How far this is benefited? Which BEST way we can use?

    What you have on this(Indi)?

    Regards,
    Jagadish

  2. #2
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    Murrey Math Trading Rules

    It is what I found - pdf file about 'Murrey Math Trading Rules' (attached)
    --------

    And this is small video about the following:
    'Support and Resistance Trading Tutorial - Murrey Math Lines'

    Attached Files Attached Files
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  3. #3
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    This is 2 indicators I found (attached):
    • x_Murrey_Math_Black
    • z---MurreyMath-TimeFrame

    Explanation of the lines on the chart:

    8/8 th's and 0/8 th's Lines (Ultimate Resistance)
    These lines are the hardest to penetrate on the way up, and give the greatest support on the way
    down. (Prices may never make it thru these lines).

    7/8 th's Line (Weak, Stall and Reverse)
    This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse
    down fast. If prices do not stall at this line they will move up to the 8/8 th's line.

    6/8 th's and 2/8 th's Lines (Pivot, Reverse)
    These two lines are second only to the 4/8 th's line in their ability to force prices to reverse. This
    is true whether prices are moving up or down.

    5/8 th's Line (Top of Trading Range)
    The prices of all entities will spend 40% of the time moving between the 5/8 th's and 3/8 th's
    lines. If prices move above the 5/8 th's line and stay above it for 10 to 12 days, the entity is said
    to be selling at a premium to what one wants to pay for it and prices will tend to stay above this
    line in the "premium area". If, however, prices fall below the 5/8 th's line then they will tend to
    fall further looking for support at a lower level.

    4/8 th's Line (Major Support/Resistance)
    This line provides the greatest amount of support and resistance. This line has the greatest
    support when prices are above it and the greatest resistance when prices are below it. This price
    level is the best level to sell and buy against.

    3/8 th's Line (Bottom of Trading Range)
    If prices are below this line and moving upwards, this line is difficult to penetrate. If prices
    penetrate above this line and stay above this line for 10 to 12 days then prices will stay above
    this line and spend 40% of the time moving between this line and the 5/8 th's line.

    1/8 th Line (Weak, Stall and Reverse)
    This line is weak. If prices run down too far too fast, and if they stall at this line they will reverse
    up fast. If prices do not stall at this line they will move down to the 0/8 th's line.

    Murrey Math system-eurusd-d1-alpari-limited-4.png



    Murrey Math system-eurusd-h4-alpari-limited-4.png



    Murrey Math system-eurusd-h4-alpari-limited-6.png

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    Thanks ND for all your help...!!!

  5. #5
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    Those are the other two indicators from same author - for Metatrader 5 for now (I just found it on MQL5 CodeBase here and here):

    Murrey Math system-eurusd-d1-metaquotes-software-corp-3.png


    Lines description (for a daily chart):

    • 8/8 andf 0/8 lines (ultimate resistance). These are the most strong lines causing the most considerable resistance and support.
    • 7/8 line (weak, stall and reverse). This is a weak line. If the price has moved too far and too fast and stopped near this line, it will quickly reverse downwards. If the price has not stopped near this line, it will continue moving up to 8/8.
    • 1/8 line (weak, stall and reverse). This is a weak line. If the price has moved too far and too fast and stopped near this line, it will quickly reverse upwards. If the price has not stopped near this line, it will continue moving down to 0/8.
    • 6/8 and 2/8 lines (pivot, reverse). These two lines are inferior only to the 4/8 line in their ability to reverse the price movement.
    • 5/8 line (top of trading range). Prices of all markets spend 40% of their time to move between the 5/8 and 3/8 lines. In case the price moves around the 5/8 line and sticks to it for 10-12 days, it means that this is a "premium area" for selling and many traders follow this signal. But in case the price stays above 5/8, it is going to stay in the area for long. But if the price falls below 5/8, then it will most probably fall down to the next resistance level.
    • 3/8 line (bottom of trading range). If the price below this level is moving upwards, it will be very difficult for it to break this level. In case this line is passed and the price stays above it for 10-12 days, then it will remain above this line and spend 40% of time moving between this line and the 5/8 line.
    • 4/8 line (major support/resistance). This line provides maximum of resistance/support. This line is the best for buying/selling. In case the price is higher than 4/8, then it is a strong support level. In case the price is lower than 4/8, then it is a splendid resistance level.
    • The area between 8/8 and +2/8 is an overbought zone.
    • The area between 0/8 and -2/8 is an oversold zone.
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    This is interesting EA based on Murrey lines, Stochastic oscillator, Candles, Bollinger Bands.

    Murrey EA - expert for MetaTrader 4

    Recommendations:

    I. 5 digits pair
    II. Best timeframes: M15,M30,H1,H4
    III. Please follow the trend before running EA , you can disable buy by setting. Enable Buy :false , you can disable sell by setting Enable Sell:false

    So EA will work good when you take a look at the trend and follow only the trend, disable Short or Long.
    Murrey Math system-murrey_1.gif
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    Murreys_Math_Oscillator

    This is Murreys Math indicatore from premium section:

    Murreys Math
    - Murreys_Math_Oscillator_v1 600+ indicator is on this post (premium section link). This is updated Murreys_Math_Oscillator with the signal line.

    ============

    Murrey Math system-eurusd-d1-alpari-international-limited-2.png
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    Hi ND;
    Have you used these indicators to filter Buy/Sell and exit?
    x_Murrey_Math_Black
    z---MurreyMath-TimeFrame

    Thank you,
    Rogério

  9. #9
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    Quote Originally Posted by rogeriob28 View Post
    Hi ND;
    Have you used these indicators to filter Buy/Sell and exit?
    x_Murrey_Math_Black
    z---MurreyMath-TimeFrame

    Thank you,
    Rogério
    I used Murrey Math for technical analysis (I did not use it for trading for example).

    But Murrey Math indicators can be used 'on MACD way' related to 'signal line' and 'above zero' levels.

    So, it may be take profit 1, tp2 (partial close), and stop loss levels as well. Besides, it can be the settings based on the risk (related to the Murrey Math lines).
    And Murrey Math indicators can be used to filter false signals, for example: buy trade can be confirmed if Murrey Math value is above zero (or above some Murrey Math level based on the risk of the trading).
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  10. #10
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    Hi ND,
    I'm looking for the best reversal point and exit for open orders.
    Sometimes an order reaches 300 points and returns to 0.

    See image.

    Murrey Math system-trendrb.jpg
    Regards,
    Rogério

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