Thanks V...I'm getting it
Steve
Steve
Scripts for Limit entry, Stop entry, Market entry 46 replies
FXCM - No Entry Orders before the... 43 replies
short on eur/us..my entry order got blown by 11 replies
15 min indicator on 5 min chart 3 replies
DislikedThanks for clarifying the various versions.
Was your gu trade per system? Put up a chart if you like, whilst hindsight is perfect I usually find a critical look at losing trades helps a lot more than looking at winners.
Ignored
DislikedHi V,
Here is the trade. In hindsight, I can see that it was not a trade as per system.
1. The confirming 5 min candle had not closed and been passed upwards.
2. The trade was taken on the basis of a down trend line broken by a good thrust bar on the 1 min, with the signal and 34 ema only as incidental factors. A clear (in hindsight..) case of wishful thinking.
Looking at this afterwards a few things strike me.
1. First, the trade must look "right" on the 5 min chart. In this case, the 5 min had not made a confirmed HL. I take this now...Ignored
DislikedI have been meaning to commend you for the indicators you coded - excellent work, thank you.Ignored
DislikedIslander - I am sure V. won't mind your post. I know I don't, because I learn something from you each time. You have a wonderful ability to read price action - think I'll take some time and read all your posts in the other thread. Cheers.Ignored
It is meant to take the effort out of continually looking at 3 indicators. You still need to decide whether to take the trade or not. You will see from Vatage's posts, that he has the traffic lights and all 3 indicators on his chart at the same time. The little bars are there so that it makes it easier to count back. They are not an indication of trend. If a signal occurred 2 bars ago, without the little bars you need to get your cursor on the bar to see when it happened. With the little bars, you can see it was 2 bars ago, without having to reach for your cursor.
As far trading the 5 min chart, I do not have an answer for that question.