Great job Irathi. You've really done an extensive reading on the Magic Trend system, I'm still way behind- trying to absorb the concept of the great contributors on that thread, TudorGirl especially.
There are two things which for me remain difficult .
Firstly, the memory of signal bars from which the initial signal bars come from once the computer is turned off and put one. Eg. From the H4 signal TF generated....From the first [1]/[1] signal to when that trend finishes on the trading TF. I do not know the answer? (This is a difficult one and some attempt from the H1 signals was made)
Sincerely, i'm not having problem with the memory of signal bars from the first signals because I don't actually take a trade on the first signal bar. What I do is turn my computer on 12pm eastern time (ET) on Sunday, but i don't actually take any trade until the open of the European session starting from when the German market opens 2am ET, with that I have almost eliminated any erratic signals and at the same time allow the DB memory to be refreshed several times. I started this because I noticed I was getting into many false trades while the Asian market is just opening and recovering from the previous week's trade. I will suggest you allow sometime for the DB to refresh before taking any trade on it, until maybe there can be some other programming solution to that.
Secondly, because of the lack of a unified EXIT manual strategy. From my years of trading I know that the ENTRY signal and EXIT signal are best from different strategies/use of indicator.
I agree completely with you on this. With a standard exit strategy on this system, it will make the DB a complete system, even if the exit strategy is based on one or 2 indicators - i was also thinking in line with using the HULL indicator as my exit indicator, I'm currently testing the HMA alert (though it repaints) to see how it works. i will download and test the attached indicator.
For, the MagicGirl, i have the STF version only running now along with my BasketTrader DB - since i read on the thread that the MTF version repaints, i don't want to spend time testing it.
All in all, Thanks irathi for your observations and thanks to Swingman for these 2 great systems.
There are two things which for me remain difficult .
Firstly, the memory of signal bars from which the initial signal bars come from once the computer is turned off and put one. Eg. From the H4 signal TF generated....From the first [1]/[1] signal to when that trend finishes on the trading TF. I do not know the answer? (This is a difficult one and some attempt from the H1 signals was made)
Sincerely, i'm not having problem with the memory of signal bars from the first signals because I don't actually take a trade on the first signal bar. What I do is turn my computer on 12pm eastern time (ET) on Sunday, but i don't actually take any trade until the open of the European session starting from when the German market opens 2am ET, with that I have almost eliminated any erratic signals and at the same time allow the DB memory to be refreshed several times. I started this because I noticed I was getting into many false trades while the Asian market is just opening and recovering from the previous week's trade. I will suggest you allow sometime for the DB to refresh before taking any trade on it, until maybe there can be some other programming solution to that.
Secondly, because of the lack of a unified EXIT manual strategy. From my years of trading I know that the ENTRY signal and EXIT signal are best from different strategies/use of indicator.
I agree completely with you on this. With a standard exit strategy on this system, it will make the DB a complete system, even if the exit strategy is based on one or 2 indicators - i was also thinking in line with using the HULL indicator as my exit indicator, I'm currently testing the HMA alert (though it repaints) to see how it works. i will download and test the attached indicator.
For, the MagicGirl, i have the STF version only running now along with my BasketTrader DB - since i read on the thread that the MTF version repaints, i don't want to spend time testing it.
All in all, Thanks irathi for your observations and thanks to Swingman for these 2 great systems.
DislikedFrom Monday I will be dropping the dashboard option c) Magicgirl v2.2 with HG 0001 indicator (MTF indicator) from my testing. Refer post #416 as it repaints.
Option b) STF HG 0001indicator does not repaint and is in practical terms a combination of MACD and CCI only.Both these are good trend indicators all rolled into one indicator. The settings covers M5 to D1 TF.
I have been reading the TrendMAgic Thread. (Still another 40+ pages to go) I found many answers I was looking for. I commend the main players of the wonderful work going on and the...Ignored