DislikedVantage...
I use the same method but with RSI(7) I find it very similar to %R (14)Ignored
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DislikedVantage...
I use the same method but with RSI(7) I find it very similar to %R (14)Ignored
DislikedHi Vantage,
Thanks for posting this system - seems to have potential with me - especially with 'exotics' particularly the GBPZAR pair because when they trend then believe me - THEY TREND! (Gold and Silver too).
Which brings me to my question:
When using this system on a shorter timeframe it becomes difficult to establish the trend as the EMA's start turning a lot quicker on the shorter timeframes and you are never quite sure whether it is a trend reversal or something like that coming. In your opinion could you (would you) use a longer timeframe say 4 hours or 1 day to establish the trend as per you EMA setup and then, after establishing the long term trend, trade on shorter timeframes? What do you think? In other words - as long as the long term trend is going in one direction - it does not matter that the short term trend as indicated by the EMA's on a shorter timeframe may look like it's changing - you would still be following the theory of your system.
For what it's worth - I have only just started testing this system live (I only trade live - demo trading is a waste of time but that's another whole discussion) - and I am doing the following (for example - in an uptrend as determined from the EMA's on the daily or 4 hour chart):
Daily or 4 hour trend is up
Use 1 hour, 30 minute, or even 15 minute chart to trade
Wait until W%R(14) turns (reverses) at the bottom i.e. below -80 and then crosses up through -80 then buy
Wait until WR%(14) crosses -50 and buy again
If W%R(14) goes back down repeat above as many times as necessary
Add Parabolic SAR to update stop loss
Obviously if the trend is down the opposite applies.
By the way - this also seems to be an ideal setup for the DAX 30, Dow, Nasdaq, etc. etc. - particularly as (at the moment anyway) the trends are all up - and this system lets you take advantage of the corrections on the way up - and - I would imagine - if this so called 'crash' occurs - the same would apply on the way down.
Opinions?
Thanks again.
Dale.Ignored
DislikedHey - where's your spirit?
Nice to know you are from here.
There sure seems to be a lot of us here - and we're giving it stick man!
And - for what it's worth - in my opinion - my beloved ZAR (yes the Rand) - is at least worth something i.e. it's not just paper money like the 'you know what'! Put it this way - from what I hear from one or two people 'in the know' it won't be much longer before it's no longer considered an 'exotic' - which has always got under my skin - I mean - right now it's right up there with the Mexican Peso for crying out loud (which on the other hand is another rollercoaster with huge ranges).
Anyway - I'm testing your system this morning on the GBPZAR and so far so good. I know you have to cover the huge spread BUT you do eventually and then you are rocking! The spread on the EURZAR and USDZAR is not that bad (at one of my brokers) BUT the movement on the GBPZAR on a daily basis is a thing of beauty.
One other thing that is nice about our currency is the fact that we have Gold which acts as a very reliable leading indicator and I'm checking now how this goes down with Gold.
Put it this way - after a couple of months I just got sick and tired of sitting around waiting for a couple of pips on the majors - so - I win big - lose big - but always up (lately anyway).
Anyway - nice to meet (speak) to you. Keep up the excellent work.
Regards,
Dale.Ignored
DislikedThanks Vantage, the simplicity of the system interests me. Because of the simplicity of it, have you tried created an EA using this ?
http://sufx.core.t3-ism.net/ExpertAd...ndex.html#Buy1
I hope its OK to post it here, apologies if it isn't.Ignored
DislikedFinally got converted to mt4 and for the sake of simplicity I'm going to try this method on the 30 min charts alongside the Pouria moving averages which I also find interesting. Will look to use both systems independently on same time frame.Ignored
DislikedI have set up 1 screen with mt4 on that I execute orders off with 6 currencies charts on, all about 3 cm's wide. Eur, gbp, jpy, chf and eurjpy and gbpjpy. All 30 min charts except for gbpjpy 4 hr. I have loaded the w's % R 14 and the basic daily fozzy 8 rsi, 8 sma. Then I have a 5 ema and 50 ema for my version of pouria cross.
I like to see fozzy cross to confirm a trade (it normally leads so you get a heads up) and will be looking at the pouria ma cross and will consider getting in another position based on that.
As I'm not looking at this screen for trends having 6 small charts on to focus on the W's % R works nicely.Ignored
DislikedHi
well you switch to 30M chart from 2h so now for trend do you look emas(50;100;200) in30M or 2h tf....well also I think if you add a nonlag ema would help...
thanksIgnored
DislikedI still have the 1 and 4 hr charts but on other screens.
With the 30 min I use above 50 ema for buy crosses and below 50 for sell crosses.
If there are other clear signals such as divergence I would do a buy below the 50 ema. I don't know how you'd build that into a system though.
For a non lag ema do you mean something like 5 pips above a 5 ema or something like that? That might get you a slightly earlier entry but this tries to reduce the number of losing trades or at least by going with the trend making sure the winning trades pips out weighs the losing.
There is nothing stopping you from doing something like that and then putting on another trade once W's % R crosses.Ignored
DislikedThis is an EA i had built on your idea because I liked it so much. It has a lot of extra features in it. Most of it is self explanatory but this should explain the extra tricky features.
a. Map1 is the TF for the entry and exit of orders. Map2 is a filter of a longer TF. It will verify that the larger TF is in agreement with MAP1. To disable leave MAP2at zero.
b. position 3, if BE is at zero, it will ride to the entry of an opposite order(cross of 50 line) So you can scale out your orders at different intervals with all three positions.
TEST AWAY!!! I don't mind sharing with you what I paid for as long as you don't mind sharing your settings. Lets see if we can make it profitable. I just haven't had time to mess with it.
Jar
EDIT** Also the Order entry waits till close of the bar.Ignored