Just got back from quick trip to shops. This is eactly the kind of trade system gives good signals with. See lh on 5 min chart. The solid line on 1 min shows close of 5 min candle. A couple of chance to enter are shown with arrows.
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
DislikedHi Ned
We are trading a few set ups at the moment. So this is a roundabout way of answering your question.[list=1][*]5 min lh's/hl's. A hl/lh qualifies as soon as the candle is closed. See the attached. If we are trading this method we want the indis that we are using to agree. So at the moment the 5min stoch and nxMacd need to confirm. Price would need to go 1 pip beyond to confirm the trade. A hl/lh just needs the candle to close. There is a diff between a hl/lh close and the trade, pa must move on to confirm a trade off 5 min chart....Ignored
DislikedJust had a thought IF its not too much trouble. A filter for buy signals only above ema and sells only below? If not this is fine.Ignored
DislikedI adjusted this version so that the histogram bars only trigger if the price Close value is also greater than the 5 ema shift 3, for a long, and vice versa for shorts. Looking at today on EU, there is very little difference from the original version. 95% of the time, the price action that is sufficient to trigger the turn, is also sufficient to get the close price over the 5 ema.Ignored
DislikedThis is a great thread and thanks for your continued postings. What is Frankies hour? (the hour before London open, when Frankfurt is open? ie, 09:00 to 10;00 on FxPro charts?)
And where can we find details of Islanders strategy?
Thanks again to you and Mrs. V.Ignored
DislikedI adjusted this version so that the histogram bars only trigger if the price Close value is also greater than the 5 ema shift 3, for a long, and vice versa for shorts. Looking at today on EU, there is very little difference from the original version. 95% of the time, the price action that is sufficient to trigger the turn, is also sufficient to get the close price over the 5 ema.Ignored
DislikedThanks V.
Now one final request if I may. I am trying to make sure I have the correct Pivots and Pivot Points Multitimeframe settings. Any chance you could post a current Eur/Jpy chart, and I'll adjust my settings to match yours ( I only trade the European/London session for the first 2/3 hours). Thanks once more.Ignored
DislikedHi Royston
Can you pls confirm it looks like v2 is giving a signal at the opening of the next candle following all 3 crossing, is that correct?
Thanks.Ignored
DislikedHi Royston
Can you pls confirm it looks like v2 is giving a signal at the opening of the next candle following all 3 crossing, is that correct?
Thanks.Ignored
However, to err is human, so if there is an instance of that logic not being followed, do post the picture so I can adjust things.
I have found that I prefer the original version as the alternating bands of colour give a better view of the ebbs and flows as price moves along.
DislikedHi Vantage,
Version 2 gives
- a long histogram bar for the first bar that closes above the 5 ema shift 3 when all 3 indicators line up
- a short histogram bar for the first bar that closes below the 5 ema shift 3 when all 3 indicators line up.
However, to err is human, so if there is an instance of that logic not being followed, do post the picture so I can adjust things.
I have found that I prefer the original version as the alternating bands of colour give a better view of the ebbs and flows as price moves along.Ignored