Thread: The SETUP and the Chuvashova Fork

WAB. .

There is not any free lunch.
Please read the whole thread.
Nobody likes to need to stop and explain things over and over, to newcomers who have not completed their homework. Please read the whole thread, if you're referred for this article. When they dont have a clue what's being 21, It's really annoying to have someone jump. Do your due diligence. Read the ribbon. Bring some eduion. Moving into a gunfight with a knife is not going to get you some points.

I'm considering a discussion on how best to utilize the Chuvashova Fork (hereinafter Called the CF.) and its relationship with the principle of this HH HL LL LH chart arrangement and something that I call the SETUP.

You can find info on the CF in https://www.mql5.com/en/articles/1352. There is a link there to Stanislav Chuvashovs web page the webpage is in Russian and we will require a translator to help us out. There is also a URL to 17 lessons farther down the page, also in Russian. Hopefully a translator be kind to us and will come together.

Meanwhile, I am sure that we are able to form a good group here and figure out it ourselves.

The CF is comparable to what I've called a BW line in my FF Animal Farm ribbon for those considering it, as discussed there. My curiosity about the CF is a result of that aspect of my curiosity about a Renko System. (We will use both regular and Renko charts here.)
So, I would like to discuss and produce a trading egy working with the CF and chart price arrangement.

Some basic thread rules:
1. Be polite.
2. Do not include all sorts of indiors. (The focus is on price, not a thousand distinct pet squiggly lines.)
I will use the normal Bill Willi AO, AC, Alligator and Fractals, that can be an essential component of the system and shouldn't be altered or altered.
Ea growth:
Anybody who wants to create an ea for this, please do this on a separate thread. I dont want this one to lose its attention.
(There is code for an ea on the /1352web page link above. I checked this out a couple of years back but I think there are problems with the code since MT4 underwent all of its upgrades and I recall it was less that satisfactory to me in the moment. Don't hesitate to look there for ea info, but please do some development of this on a separate thread. I'd like this one not absorbed with tweaking code. Thanks.)
CF Indiors:
There are several CF indiors I have discovered. They seem to do the same thing with the exception of one, that adds entry levels and ceases.
Later, I will use one on my charts and indicate that we either try to verify its use or find reasons to reject using it, in favor of something better, or not utilize an CF automatic indior in any way.

I Would like to develop the idea of the CF before we proceed into an indior for it. Without comprehending it having an indior is pretty much useless.

Lets have some fun, see what we can learn and see if we can make some pips.

Any Indiors that I use will be attached here on the first article.
https://www.forexforum.co.za/trading...mendation.html
https://www.forexforum.co.za/attachm...8164756354.ex4

Our first chart is the basic template I am using:

It has the standard Bill Willi indiors: Alligator, Awesome Oscillator, Accelerator Oscillator and Fractals. (I have added a five period exponential moving average to the Awesome Oscillator.)

Basic Chart.




Should you post charts here for dialogue please keep them clean and similar to this one. Some people get some works of art going that don't add much beyond artistic content.

Each part of this chart has a purpose and anything outside that isn't needed.
https://www.forexforum.co.za/attachm...8223637230.tpl

Direction.
I have seen a lot of talks on the best way best to establish the trend on a chart. I've got two ways of doing this.
First would be to utilize the Alligator. This is fast and visual.
If the price is above the Alligator and the Alligator moving averages are spreading apart, then it's in up trend. If the price is below the Alligator and the Alligator moving averages are spreading it's in a downward trend. Just a glance at the status of the Alligator tells you a lot. After the Alligator is closing and the price is within the Alligator it isn't trending.

My next way of establishing a trend direction relies on price action.
A chart goes at a series of Higher Highs and Higher Lows till it reverses, then it moves at a series of diminished Lows and Reduced Highs.
An uptrend is HH HL and a downward trend is LL LH. I use these points to be loed by the Fractals indior. HH HL's development changes to LL LH when a Change in direction occurs.
This gives us powerful information to utilize.

With this chart, I have identified a highly effective top and a powerful bottom.

(Note: final low on the this chart is labeled like LL and it ought to be HL.)



The Best: The HH HL sequence is broken up in the E line by a LL.
The Bottom: The LL LH sequence is broken up in the E line by a HH.

There isn't anything new here. Head and Shoulders patterns or a Kings Crown are different names for it, but you can see how they're derived from the universal march of HH, HL, LL, LH fractals.
Notice how the Alligator behaves after the Top and Bottom

The way the E line obtained its name:

I needed and effortless way to spell out bottoms and tops to help identify them. I came up with the acronym SETUP.

For a Top:

On the left we have a Shoulder and Elbow followed by a Tip. When price breaks Beneath the Elbow we've identified a reversal. It then pulls back, usually above the Elbow although not necessarily, to some Pull Back. (If price continues and goes above the Hint it is not a Top.)

For a Bottom:

On the left we have a Shoulder and Elbow followed by a Tip. When price breaks Beneath the Elbow we've identified a reversal. It then pulls back, usually above the Elbow although not necessarily, to some Pull Back. (If price goes and continues beneath the Hint it is not a Bottom.)

Get into the habit of labeling the SETUP in your charts. It is second nature before you do anything else to check for them.

(I have not labelled every SETUP on this chart. A person will probably be pointing out. Good if you discovered.)

After price breaks down the Elbow fractal the E line is the thing that controls the market. That price break with what the Alligator is telling us and you have the secret to the highway.

Trends and Counter Trends:

Together with the E line break and the Alligator showing direction and trend we could soon see that there are counter tendencies that occur where price pulls back towards the Alligator or into it.



A fractal above the green Alligator line along with a fractal below the green Alligator line denote a Counter Trend in a bullish market. You can see them marked on the chart with short lines.

Notice that not all counter tendencies will penetrate back to the Alligator. I researched one on the chart (third kind the right) as an example.

Well the point is set.

We've got a way of identifying management at a glance (open Alligator.)
A way of finding tops and bottoms with price action (SETUP.)
We have not used any other indiors, though we will get to that in due course.

Now, go and look at a lot of charts.
Assess the loyal Alligator for leadership.
Identify the SETUP and the E line that started the Alligator off on its own trend.
Draw those counter trend lines.

Exercise until it becomes second nature, I will reveal to you some things about SETUP and the CF.

Afterward, I want you to consider this:

At each fractal there's a SETUP to a lesser time period.

Detailed and complete explaination of all great egy. Thank you

Thanks Dragon. We're only getting started. Welcome aboard.

Hi Wab,

this one sounds very interesting, I can´t wait to learn more about the other Bill Willi indiors and the fork.

Subscribed

Greetings from Bavaria, Germany

Glu

Danke Guldulbaer.

I recommend to anybody trading that they read Bill Willi novels. The guy is a genius.

SETUP. SETUP. SETUP.

It tells you if the market is turning.
Where to put in a secure trade - namely the rest of the E line.
It's not difficult to spot. (After some practice, you will wonder why you were aware of this earlier.)
SETUP happens at every fractal all you have to do to find that goes to a lower time period.

SETUP happens at every fractal.

Now consider those counter trends. The ones that I like are those which begin with a fractal outside finish and the Alligator with a fractal inside the Alligator. I generally use the green (lips) lineup of the Alligator as a qualifier. In the fractal inside the line we would like to go into a transaction in the direction of the trend as price probes the Alligator but moves back away from it resuming the trend.

Most traders state input a trend line break to get back after a counter trend. I state entering on an E lineup is a great alternative. (We will get to another with the CF.)

To discover the E line in the counter trend fractal, you just go to a lower time period and look for it.

Here's a recent Counter Trend on the H4 chart:



Here is the Exact Same CT on the M15 chart. Can you spot the SETUP? I Left the left with the black line to show the Counter Trend marked on the H4 chart. We can soon spot a bullish SETUP by moving down to a lower time frame to bring out the inner detail. We can even spot a wonderful E lineup.



Here we are again back on the H4 chart:



You can see the way an entry in the M15 E lineup appears on the H4 chart. ( I needed to take out the S, E, U, P, labels as MT squished up them on top of each other.)

Today, let's compare a conventional entry of a a trend line Break on H4.



Generally you would wait to get a close over the blue H4 trend line break. Look how far you give away.

The M15 E lineup gets you in 34 pips before that entry on this particular example. I hate not getting those extra pips waiting to get a close over a classic dinosaur fashion, conventional, counter- trend line.

It becomes even better.

Today, you need to go play some greater time period (HTF) fractals and look for the SETUPS hidden inside them.
Identify some HTF Counter trends (HTFCT) and determine how you can get into the dominant trend by drilling down to Lower Time Frame (LTF) Setups.

I have not even talked about the other indiors or the CF yet. You have enough here to work on for a while.