Ehlers Roofing Filter as a Confirmation Indicator | Stonehill Forex | YouTubeToText
YouTube Transcript: Ehlers Roofing Filter as a Confirmation Indicator
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This week, we've got something a little
different from our hero, John Ellers.
You've got to love the title, and if you
know anything about music from the 80s,
tell me a particular song didn't come to
mind. Looking at this indicator in its
native form, you'd venture to guess it
could be used as either a zero cross or
a two lines cross.
Check out this color corrected image.
See how you've got red and green lines
crossing with arrows to help you
identify the signals.
and then look at the bold orange zero
line. What to do? We actually read three
different ways you could use this indicator.
indicator.
Many sources cited using it as a two
lines cross
and some suggested using it as a zero cross.
cross.
Some even proposed using it first as a
two lines cross and then confirming the
zero cross before giving the indicator
the green light. We wondered if a fourth
way to use this might be to take your
entry using it as a zero cross and then
your exit as a two lines cross because
of the speed and frequency of the signals.
signals.
This might be something a motivated
tester might undertake. If you do,
please let us know your results in the
comments. We did test it both as a two
lines cross and a zero cross and then
found that the zerocross methodology
gave us better results. So that's the
way we're going to test this indicator.
Setting it up the way we did can be
found in the blog. Let's go. We'll pick
it up here as a fresh short signal just
That was a pretty good trade and a nice
exit without too much reversal action.
nice run. So far, things are looking
Total loser there. Not surprisingly as a
C1 indicator due to its less than speedy
Not going to lie, that was pretty ugly
as well. Chalk it up in your trusty
The start of that trade was a bit rough
with some extra in the market before it
settled down and chose a direction. Had
you been kicked out on that initial
reversal, a continuation trade may have
been just the ticket to capitalize on
the smooth ride down before price change
direction and kick your trade to the curb.
That was a long weird ride up. Some
bumpiness at the start of the trade
before price settled down and continued
up with what would have been a long
trade to the upside, which you'd
probably still be checking on every day.
This one definitely had some
possibility. And while the analysis had
some winners and losers, don't forget
that we demonstrated on the default
settings, which were a bit slow in our
opinion. You can get it from the
Stonehill Forex library and see if it's
something you want to mess with. We've
included a link directly to that page in
this video's description. We'll never
give you financial advice in any form or
fashion. And to be honest, you can do
this yourself. Head on over to the
website where you can find a treasure
chest full of great resources, including
the advanced course where some of our
students have metriculated to full-time
prop traders riding the profit wave to success.
success.
And lastly, be sure you're subscribed to
our channel and make sure you email a
request to become part of our broadcast
list. Our only goal is to make you a
better trader. [Music]
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