I had grown used to the Heiken Ashi candles at CMS and after poking around some more with the LiteForex charts I found them under their "Custom Indicators". They looked ugly behind the traditional candles and bars. But, they do well behind a line depiction of the price.
This created a surprising effect when combined with the Alligator indicator they offer (see the fourth point below).
In messing around I found that I could set the Alligator indicator to use a Linear Weighted method based off of the closing price (I'm using the default period settings).
I liked what I found.
First, even though the period ranges are shorter (13, 8, and 5), I'm given good info and price direction.
Second, the selling point of the Alligator indicator is that when all the lines are close or intertwined ("the alligator's mouth is shut"), the market isn't going anywhere. Which would, if the talk is worth anything, keep one out of a whipsaw market.
Third, the indicator projects a few periods out from the current bar. Which is somewhat helpful in predictions.
Fourth, I noticed that when the fast line (green or "lips") crosses the price line (on a line chart), it tends to be a reliable exit signal.
So, based on the above ---
EUR/USD -
5 day hit price line and I offseted my short 1.3605 at 1.3544. Profit diff of 61.
Projected 5 and 8 day are moving to intertwine. 13 day is still well above the price. Leaving alone.
USD/JPY - Alligator is intertwined. Leaving alone.
GBP/USD -
Entered short at 1.9797, stop 1.9968.
I did so mainly because the SAR was far from the price (heh, watch me get burned with that again).
The Alligator is showing a good downtrend. However, if the price goes horizontal for a few days, my 5 day will hit it indicating a exit. This spooks me a bit but I noticed something. On 5/8 the 5 day hit the price line indicating an exit, but the trend continued. When that has happened at other points on this chart, the price tends to continue on the initial trend. So, something else to tinker with.
EUR/JPY - Alligator is intertwined. Leaving alone.
USD/CHF -
Alligator is indicating a continued uptrend. However, the SAR is close to the price (tends to mean a pull back or reversal is due) and the projected 5 day is in the path of the price line.
Unless the price rockets upwards tomorrow, I think there will be a pull back. Considering how far the 13 day is from the other lines, I don't think it will be a true reversal.
EUR/CHF - Alligator is intertwined. Leaving alone.
AUD/USD - Alligator is intertwined. Leaving alone.
USD/CAD -
The 3 ("lips") and 5 ("teeth") day are intertwined while the 13 day ("jaws") is moving in towards the other two. Leaving alone.
EUR/GBP - Alligator is intertwined. Leaving alone.
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