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-   -   Consistent Profitable Trading using 4H Outside Bar w/ Pivots (https://www.forexfactory.com/showthread.php?t=884375)

ranilo.vince Feb 16, 2019 10:52am | Post# 1

10 Attachment(s)
This is an evolution of my previous thread --- Hybrid System of 3 Successful Traders...

We use:
1. Davit's Weekly Fibo Pivot (added 2 Fibo Indicator-Davits Pivot V3.2 is for lower Time Frame just to see the current week's pivot zones
and Nostromo Pivots is for 4H Time Frame for you to see the previous, current and future pivots) -
You can download my template on the 2nd post and use it first then modify on your own if you prefer.
2. ADR.
3. TMS Angleator with TDI
4. 30 EMA
5. Breakeven EA
6. Fibo Tool

Let's make the trading system rules simpler & clearer.

For Trend Trading -

1. We check our economic calendar for the day and avoid trading the currency with red news on the same day before the news will be announced.

2. BUT Once red news has been announced, we can go and analyse the pairs with that currency usually after an hour.

3. We look for 4H bullish/bearish engulfing candle. Previous candle should be the opposite candle of the engulfing candle. Meaning if we are buying, we should have a bullish engulfing candle while the previous candle should be bearish. (If there's none, we can still proceed on step 2)

4. We only start trading from Frankfurt Open until London Closes.

5. We BUY if price is above 30 EMA and Angleator values are both + typically at 70 or 50 values and there are at least 4 arrows on different TF pointing up. Values of angleator should be both positive using 4H and 30M TF.

6. We SELL if price is below 30 EMA using 4H TF and Angleator values are both - typically at 70 or 50 values and there are at least 4 arrows on different TF pointing down. And again, values of Angleator should be both negative using 4H and 30M TF.

7. We draw Fibo tool on the engulfing candle itself and we use 200%, 150%, 100% and 0% only. Where 200% is our target, 150% once price hits this, we move SL to breakeven, 100% is our entry, and 0% is our SL.

8. Our SL and TP can be adjusted accordingly using the pivot zones. For TP, whichever is nearer between pivot and 200%, we take that. For SL, whichever is farther between the 0% and the pivot. I know risk-reward ratio will not be that good most of the time, but I still prefer to have more sure wins and less losses. Or if there's no 4H engulfing candle on your entry, we can wait for a good price action move and enter only once price is near pivot zone to have a better risk-reward ratio because you can place your SL just on the other side of the pivot zone then look for the low/high of the previous 4H candle where you entered and place your target to the next pivot which I'm sure has more pips value.

For Counter Trend Trading -

1. Price must only be in the 61, 78 and 100 PIVOT zones before we even consider a counter trend trade. Counter Trend Trade is considered if price is above 30 EMA and we perform a sell instead of a buy and also vice versa if price is below 30 EMA and we perform a buy instead of a sell.

2. Then we should have a bearish/bullish engulfing candle on the 4H time frame ONLY.

3. Angleator should have the same values as well on 4H and 30M TF. And at least 4 arrows pointing together in the direction of our trade should also show up, indicating a good momentum to the possible direction of our trade.

4. ADR value should also be above 100% indicating that price traveled fast and that there could be a possible exhaustion later on that can be favourable for our counter trend trade.

5. We draw fibo tool as well, just like what I mentioned above.

6. TP and SL placement also the same.


Difference between the Old Hybrid System:

If you must ask, there are few differences and modifications that is why I created this new thread.
1. This new system uses 30 EMA not SMA.
2. We don't trade on Daily time frame anymore but of course can check Daily still for direction confirmation only.
3. This new system only trades counter trend trades if price is only at 61, 78 & 100 zones plus if we get a 4H engulfing / outside bar. Meaning we disregard 30 EMA direction just as long we get other confluence such as ADR, Angleator and 4 or more arrows pointing to our possible trade direction.
4. We don't follow Andre's approach anymore coz it's irrelevant for the system.
5. Also, there will be no more multiple orders on one pair just like what I did on the old system. Strictly, Only one order per pair to avoid greed.


Still, I'm giving thanks and credits to the two traders where I got some of the idea to complete this system:
Davit - Pivot Trading
Hzs10 - Simple H4 Mobile Trading System


If you have telegram. You can join this room created by one of our fellow traders here as well where they send notifications every time there's an engulfing candle forming so you can be aware right away of a possible trade setup...

https://t.me/joinchat/Ac3F5hWfPkZx9qYWIAotuw

Credits to: BeaterTrader for his efforts...
ADR_v2.ex4
daily_open_line.ex4
daily_open_line.mq4
Davits Pivot V3.2 Auto.ex4
Davits Pivot V3.2 Auto.mq4
Nostromo_Pivots_V2.ex4
TDI-RT-Clone.ex4
TDI-RT-Clone.mq4
TMS_Angleator V3 - RT2.ex4
TMS_Angleator V3 - RT2.mq4

ranilo.vince Feb 17, 2019 4:40am | Post# 2

9 Attachment(s)
I am also adding this second page to be able to include the other indicators which is not that important for you to use...

Because FF won't allow me to upload more attachments...

So I uploaded the most important indicators needed on the 1st post. While the indicators on this post is optional but I believe also useful especially the BreakEven EA.

If you also prefer, I included my template that I will be using all the time. You can download from here..
Attachment 3222078

This is also a good example that we can use for now as one basis.. This is not the best setup, but this is the latest that we can find from last week upon writing of this post.. Good trade for a BUY on CJ using 4H and 30M...
Attachment 3222148
Attachment 3222150
BreakEven_v2.ex4
BreakEven_v2.mq4
Magnified Market Price.ex4
Magnified Market Price.mq4
pipsometer_decimal_edit_2.ex4
pipsometer_decimal_edit_2.mq4

dicojoxaftr Feb 17, 2019 8:58am | Post# 3

cadjpy and some other fx pairs for some reason respecting fibo 38 level consistently from day 11 of 2019
the game soon will change, this is how they play it, giving hope gathering players then taking their money


ranilo.vince Feb 17, 2019 9:20am | Post# 4

cadjpy and some other fx pairs for some reason respecting fibo 38 level consistently from day 11 of 2019 the game soon will change, this is how they play it, giving hope gathering players then taking their money
Exactly you have a point there!

That is why if you will look at the 4H chart I posted, you can safely ride the trend up and take profit on the R38 zone, while putting SL on WP zone...

But let's see next week... Since there will be new zones once the following week unfolds...

Deennas Feb 17, 2019 9:56am | Post# 5

Hi Vince,

Does it mean that you are using 2 charts 4H with "Nostromo Pivots" and 30M with "Davit's Weekly Fibo Pivot" and refer to both chart to be in sync before entering trades ?

Thanks,

hibra68 Feb 17, 2019 10:28am | Post# 6

Ranillo how do you determine when its trending and when its ranging?

T4Trade Feb 17, 2019 10:38am | Post# 7

good logic and good entry ideas,engulfing on higher time frame is very popular and specially if it happens near pivots,its kinda valid.where and when do you use breakeven EA?

KeenPips Feb 17, 2019 10:52am | Post# 8

What happened to your original or old system?

KP

ranilo.vince Feb 17, 2019 11:30am | Post# 9

What happened to your original or old system? KP
Will update the original thread tomorrow and this as well...

As I have mentioned, this system will be a better version of the old one... Few modifications to have better and consistent results!

That is why I specifically said "Evolution of the old one"

So, stay tuned!

ranilo.vince Feb 17, 2019 11:31am | Post# 10

Hi Vince, Does it mean that you are using 2 charts 4H with "Nostromo Pivots" and 30M with "Davit's Weekly Fibo Pivot" and refer to both chart to be in sync before entering trades ? Thanks,
Yes exactly!

You got it right Deen!
And all time frames should be in sync!

ranilo.vince Feb 17, 2019 11:32am | Post# 11

Ranillo how do you determine when its trending and when its ranging?
You go and search Youtube and Google bro...

Ranging vs. Trending.. And you'll be amazed...

All I know is for this system, do not enter a trade if it's ranging...

ranilo.vince Feb 17, 2019 11:36am | Post# 12

good logic and good entry ideas,engulfing on higher time frame is very popular and specially if it happens near pivots,its kinda valid.where and when do you use breakeven EA?
Thanks T4Trade! Hope you will use it too...

Take note, this is not ordinary pivots... It's Weekly Fibonacci Pivots...

To answer your question, we use BreakEven EA if we cannot be in front of the computer and once price reaches half of your target, the EA will move your SL to breakeven with at least 4 pips so you can cover your fees if price goes back against you.

For example, your target is 40 pips, so you attach your EA on that specific pair then set your breakeven point to 20 pips.. And you do the same to other pairs manually if you have different targets on your other trades...

ranilo.vince Feb 25, 2019 3:40am | Post# 13

1 Attachment(s)
Tried trading independently on my own last week without any influence from anyone else and only checked FF for news... And I must say that it really works!

Was able to hit my daily and weekly goals...

My point here is that, you don't need to follow anybody even though they are a successful trader to become successful too..

Just know and study the basic principles and rules and modify the system to fit your personality, and you will be Forever in Profit!!!

Sharing what I have now...
Click to Enlarge

Name: GBPUSDH4 mine.png
Size: 63 KB

ranilo.vince Feb 25, 2019 9:51am | Post# 14

For those who are interested to learn this system... Please make sure to visit the thread of Davit and Hzs10 so you will be familiar first on the basics.
But please take note that pivot trading is for advanced trading that requires you to have more practice and more screen time as Davit said as well.

Also. keep in mind, My approach is not better than the 2 systems because I am 100% sure that the 2 traders are way better than me. I just chose to use what works for me.

Some of you already saw me posting my trades on
Davit - Pivot Trading
Hzs10 - Simple H4 Mobile Trading System

To be completely honest, I even tried trading like Davit but it did not workout for me, I was not able to be consistently profitable maybe because it doesn't fit my personality that is why I needed to find my own approach. And this is the modified system that works for me..
So moving forward, I would be concentrating on my own approach and will stop looking around to other threads so I can focus and be consistent.

I will be publishing the new live small account that I opened last week to try and test this system with FULL TRANSPARENCY... I did not show the trade explorer the 1st week because I needed to try it on my own first and see if it is worth it.

So, from now on, you can see all trades on the Trade Explorer as a basis to check if this system will be profitable or not.

Please also don't expect me to post more screenshots of trades that I will be taking just to prove to you that it works, I won't and I don't have to...
Because I will not be starting this thread anyway if I know that it is not going to work.

I will also try to answer your questions during weekends because I will need to just focus on my trades.

swagat555 Feb 25, 2019 10:10am | Post# 15

Thanks a lot ... Is it Possible for you to make a copy of your template for Tradingview please ?

haamidfx Feb 25, 2019 11:57am | Post# 16

Hey Ranilo,

Had some success today following your rules. Will definitely keep at it with this method.

Thanks

ranilo.vince Feb 25, 2019 12:18pm | Post# 17

Hey Ranilo, Had some success today following your rules. Will definitely keep at it with this method. Thanks
Great to know that.

Remember to always control your risk first and never get greedy coz that's a recipe for disaster.

The profits will come just as long you minimize your losses coz we cannot always have winners.

ranilo.vince Feb 25, 2019 12:19pm | Post# 18

Thanks a lot ... Is it Possible for you to make a copy of your template for Tradingview please ?
Sorry but I am not a coder.

Switch to MT4 if you want so you can use the other indicators too.

haamidfx Feb 26, 2019 12:01am | Post# 19

Hey Ranilo,

Why do you check the 30M time frame angleator sign (+/-) for entry?

Thanks,
-H

ranilo.vince Feb 26, 2019 2:10am | Post# 20

Hey Ranilo, Why do you check the 30M time frame angleator sign (+/-) for entry? Thanks, -H
Hello,

It's not enough to have 4H time frame because we need to zoom in to make sure we get a good entry.


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