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-   -   Thanks Mladen & Mrtools (profitable system with 2 indicators) (https://www.forexfactory.com/showthread.php?t=950665)

cfudge Sep 25, 2019 7:10pm | Post# 1

Thanks Mladen & Mrtools (profitable system with 2 indicators)
 
9 Attachment(s)
OK, full props to Mladen and Mrtools for their constant effort to offer intelligent and interesting MTF non re-painting indicators.

This system uses two indicators, taken from Forex Station (for free...incredible).

The rules are, we wait for a dot to appear, from the Frama Ribbon indicator and take the trade in the appropriate direction then we close the trade when the first

opposite coloured candle appears from the xSuperTrend candles indicator. Or an opposite dot appears.

We can re-enter if the original colour candle returns and an opposite dot has not appeared.

Seriously...that is it!!!

Here are the set files for the indicators;

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Here are a few charts with results;

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Here are the indicators;

frama ribbon 1.1 (arrows).ex4
xSuperTrend - candles (mtf).ex4

Finally here is the template;

frama ribbon colored.tpl

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The Frama Ribbon just needs to change the TF to 1 higher than the chart you place it on.

Chris

cfudge Sep 25, 2019 7:15pm | Post# 2

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What is needed now is for me...someone to figure out good parameters for a lower TF.

As you can see I am using daily charts (in the above examples) with the indicators set to weekly TF.

Also an EA will be welcome.

Here is a closer look at some of the trades from the above chart examples.

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Chris

jamco388 Sep 25, 2019 8:26pm | Post# 3

Look promising. Will try it soon

pakeha Sep 25, 2019 8:39pm | Post# 4

Chris, do you still enter if the new dot and the candle colour don’t correspond?

cfudge Sep 25, 2019 8:47pm | Post# 5

5 Attachment(s)
I forgot to mention, in first post (now added), we will close a trade on opposite dot also.

Here is a quick look at XAUUSD 30 min chart with indicators set to 4 hour TF from Sept, 1 2019.

Set files and three charts are shown. There are 3 charts to show all the trades (I did not do a pips amount, but there are only 5 losses).

Chris
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cfudge Sep 25, 2019 8:52pm | Post# 6

Chris, do you still enter if the new dot and the candle colour don’t correspond?
YES
I tried it with only if colour matches but missed some large wins and did not hurt the losses.

I will also enter if dot candle is on wrong side of the frama line, again for above reasons.

fx4money Sep 25, 2019 10:10pm | Post# 7

trying to understand entry rules

pakeha Sep 25, 2019 10:14pm | Post# 8

Chris, how do you deal with the recalculation of FRAMA and candles which are set to weekly, but you are trading on the daily TF? There is a potential for dot or candle signals to occur when viewed daily that will not be there at the end of the week, when the FRAMA/candle colours calculations are finalized. Of course that will not show up in any visual backtest

aaven Sep 26, 2019 2:43am | Post# 9

OK, full props to Mladen and Mrtools for their constant effort to offer intelligent and interesting MTF non re-painting indicators. This system uses two indicators, taken from Forex Station (for free...incredible). The rules are, we wait for a dot to appear, from the Frama Ribbon indicator and take the trade in the appropriate direction then we close the trade when the first opposite coloured candle appears from the xSuperTrend candles indicator. Or an opposite dot appears. We can re-enter if the original colour candle returns and an opposite dot...
Congrats Chris on the new thread, Subscribed-Will be following keenly...

zenaldinz Sep 26, 2019 2:51am | Post# 10

Very effective in daily and 4H but it is not for small timeframe. Nice strategy .

forexcentric Sep 26, 2019 4:00am | Post# 11

Hi cfudge,

Sorry for maybe a dumb question, but did you try to count the pips using only xSuperTrend ? ... It seems to me that you would made more pips like this, but maybe I'm wrong on this ...

Ramana Sep 26, 2019 4:07am | Post# 12

Thank you cfugde,
You mean take two charts same pair, one for indicators set up(4h) and another one (30m) is for trade set up?

toannq90 Sep 26, 2019 6:15am | Post# 13

OK, full props to Mladen and Mrtools for their constant effort to offer intelligent and interesting MTF non re-painting indicators. This system uses two indicators, taken from Forex Station (for free...incredible). The rules are, we wait for a dot to appear, from the Frama Ribbon indicator and take the trade in the appropriate direction then we close the trade when the first opposite coloured candle appears from the xSuperTrend candles indicator. Or an opposite dot appears. We can re-enter if the original colour candle returns and an opposite dot...
Hi, does these indicator repaint ?

pakeha Sep 26, 2019 6:40am | Post# 14

Technically, they don’t repaint. However, when you do multi-time frame analysis the indicators will ‘recalculate’. In this case the Frama ribbon and the SuperTrend candles are weekly indicators, and Chris is trading on the daily timeframe. So the indicators are ‘calculating’ each day, but their values only become final at the end of each week. So for example, a dot may appear on the Frama ribbon any day during the week and not be there at the end of the week. Nothing wrong with it, because that is how the indicators work in MTF analysis. However, doing a visual back test on MTF analysis always looks better than what it really is when trading forward on a day by day basis.

northwind Sep 26, 2019 8:39am | Post# 15

2 Attachment(s)
Thank you cfudge, mladen & mrtools,
Really interesting strategy simple and effective.
Try this configuration on M5 any pair.
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itsDavid Sep 26, 2019 8:42am | Post# 16

This seems ripe for an EA build. I wonder if someone will take it on, I know I would if I had any coding skills at all!

pakeha Sep 26, 2019 11:05am | Post# 17

{quote} Looks nice, but you have to be glued to the screen or have your speakers really loud and be able to run to it when it beckons. I prefer being able to "see it coming" versus a "no notice" alarm, but that is me. I trade more than one pair at a time, so I have to anticipate trades. If you can sit at your computer all day and have someone bring your food and drinks and I guess wear diapers or something, or have someone trained as your backup, then cool. I am not wired like that, lol. Good Luck though. Looks pretty. Your arrows don't match, but...
DKRock, this is only true if you trade lower timeframes, in which case you will be glued to your screen with whatever you use. By using Weekly indicators to trade a daily TF you only need to look at your charts at the end of the trading day. There is also an alert function for the FRAMA ribbon dot so that can also be used. So, not really agreeing with your point on this post.

aaven Sep 26, 2019 11:18am | Post# 18

{quote} I lost interest with this project the more I thought about it. Sorry. Good Luck.
Dkrock,

Thank you for the candid answer. Considering the number of times, you have edited your posts,deleted, reposted, edited and deleted again,please don't take it personally if we take your thoughts with a pinch of salt.

I have deleted my original post to prevent any digression from the main topic...

Thanks

jamco388 Sep 26, 2019 12:14pm | Post# 19

@feex i'm waiting for you to create ea for this strategy
Dont just read LOL

Loqito Sep 26, 2019 4:02pm | Post# 20

Like already being said here, do not backtest that strategy with your eyes on chart. In reality the final signal appears at the end of upper (W1) timeframe, because you use MTF function. That means 5 candles later on current (D1) TF. And the real backtest result will be much much worse.
And if I am wrong - man, please forgive me, you have found Holy Grail.


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