Identifying Budding Trends with Bollinger Bands 1 reply
Stochastic divergence indicator with stochastic cross? 0 replies
Bollinger Bands Strategy 23 replies
Please help with MT4 , Bollinger Bands , Starc Bands generating bad signals 1 reply
DislikedIn a lot of trends I looked at on 4-hour charts, there are 3 or 4 good signals within each trend. So the EA I've been working on sets MAX_TRADES to 4. Since I'm new to MQL5, I had to do a little research to find simple code that issues an alert just once per signal (I coded it to play MT4's alert.wav 20 times with 2-second pauses between each chime - this should be enough to wake a person up if they're sleeping within earshot of their computer; if not, the delay and number of repeats are coded as parameters the trader can set to desired values),...Ignored
DislikedBased on observation on a 4-hour EURUSD chart, I modified the strategy slightly. The edits appear in the first post of the thread, and I'll explain here. First of all, we'll miss a lot of good buy signals if we wait for both Stochastic lines to drop below 20 in an uptrend. And also, for sell signals, if we wait for both Stochastic lines to rise above the 80 level, we'll miss good opportunities. Instead, for long signals, wait for only the K% line to drop below 65, then see %K cross above %D. For short signals, wait for only the K% line to rise above...Ignored
DislikedA trade entry approach I recently saw looks quite good. It was presented on a 4-hour chart. It goes like this. //| 1) Create two pairs of moving average indicators as follows: //| a) 72-period Simple Moving Average of the highs //| b) 72-period Simple Moving Average of the lows //| c) 12-period Exponential Moving Average of the highs //| d) 12-period Exponential Moving Average of the lows //| //| This sets up two bands or channels. //| //| When the 12-period moving average band sits above the //| 72-period band, we consider the trend to be up. When...Ignored
This signal gave many entries into big reversals where a major bottom or top was caught.
Sometimes the market will stop out such an entry, only to later repeat the signal for a great entry. So, welcome the stop-outs, don’t expect a repeat, but do take the trade if the signal repeats.
IMPORTANT: If already in a profitable position, such signals suggest these possibilities:
This signal should generate an alert irrespective of band separation.
Sometimes it happens during band separation and indicates trading with the current trend.
Other times it happens counter to the trend suggested by band separation.
Other times it happens when the bands are not separated.