Guys , i have just noticed you are talking about these EA .I bought for £23 the chaos trader EA from forex-experts.com.I have used it , i will start using it on demo account first and see how it performs.I have to be honest with you , i have since left my day Job , and i am doing reallly well in this forex business , just trading Bill Wiliams .4HR, 1HR and 15 MIN..I guess i am an expert now.
Here is an alert for Wiseman 1. It is actually an EA rather than an indicator and it inserts text at the top left of the screen. It looks at the previous complete bar and will state "NO SIGNAL" or "Bearish Divergent Bar" or "Bullish Divergent Bar".
The way I use it is to tab through all the pairs on MT4 as soon as the bar has completed. It works on any timeframe and could have an audible alert but I haven't written that in yet because I don't need it.
This will tell you when you have a potential signal ie the bar will be outside the Alligator lines, the close will be in the lower half of the bar for Bearish signals and upper half for Bullish. Also the bar will have a Higher High than the previous bar for Bearish and a Lower Low for Bullish.
You will have to decide whether the bar conforms to the angular requirements of the BW system.
I have only just discovered Chaos and I intend to develop this as time goes on.
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Commercial Member
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Joined Jan 2009
|1,490 Posts
i trade , 15 min , same entry points , i.e i only use breakout of fractal and normally if its in conjuction with cross over on AO, exit only when the market closes below the red line, dont really care about candlestick patterns , i do the same on 1 hr and 4 hrs , but that means if yu want to do it , u shld leave yo day job and do this full time , i normally start at 05:30 am till 10pm , remember , when the candlestick closes below the red line , u dont exit but yu put yo stop at the low of the candle stick , plus spread ,plus 1 point. try it , the other thing is i do gbpusd, gbpjpy, gbpchf and eur yen , the idea being that , they dont always move the same way interms of the alligator exits , etc , so when one trends , u make money on that one .
Joined Jan 2009
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Status: Fading the specs
|1,374 Posts
The key to Bill's method is finding divergence between price and the AO. Learning to spot this will give you great success with his method. The problem with the EA sinner has made is that the AO and AC will change the colours of bars previously formed. Some times as many as 3 back on lower time frames. I dont think you will ever get great results with it.
Joined Jan 2009
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Status: Fading the specs
|1,374 Posts
Here is a setup im waiting for. The AO is a wave 3, the min requirements for a wave 4 is crossing the zero line. If this happens I will look for a bullish divergent bar with angulation for an entry long. This should give us a great entry to ride the 5th wave. This is a 15 min timeframe. Remember too that FOMC minutes come out today.
i trade , 15 min , same entry points , i.e i only use breakout of fractal and normally if its in conjuction with cross over on AO, exit only when the market closes below the red line, dont really care about candlestick patterns , i do the same on 1 hr and 4 hrs , but that means if yu want to do it , u shld leave yo day job and do this full time , i normally start at 05:30 am till 10pm , remember , when the candlestick closes below the red line , u dont exit but yu put yo stop at the low of the candle stick , plus spread ,plus 1 point. try it , the...
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Commercial Member
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Joined Jan 2009
|1,490 Posts
i generally lok at 4h , for direction , since i will be tarding it anyway , its not dificult.I trade 15 min as it is, since for a trend to start , it starts from 5 min to daily so, i trade 15 min and follow the same rules .I have noticed that on 15 min , esp if its against the major trend , i get a lot of whipsaws , i lose more trades on 15 min than on bigger time frames.But in the end , i win overally , like over 100% at the end of the month .Trust me , if it was possible to post my tardes every 15 min , 1hr and 4hr , i wld juts to show you how i will be doing.
I just realized that this is not an indicator at all...how do you apply to the chart?
Thanks
Ignored
You are right. It is an EA so you need to put it into your Experts folder then drag it onto the chart from the Navigator - make sure you enable Expert Advisors (Tools/Options/Expert Advisers/Enable Expert Advisors) or click ExpertAdvisors on the task bar.
I have found an indicator (attached) too. I run both at the same time.
i generally lok at 4h , for direction , since i will be tarding it anyway , its not dificult.I trade 15 min as it is, since for a trend to start , it starts from 5 min to daily so, i trade 15 min and follow the same rules .I have noticed that on 15 min , esp if its against the major trend , i get a lot of whipsaws , i lose more trades on 15 min than on bigger time frames.But in the end , i win overally , like over 100% at the end of the month .Trust me , if it was possible to post my tardes every 15 min , 1hr and 4hr , i wld juts to show you how...
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Commercial Member
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Joined Jan 2009
|1,490 Posts
i will just tell yu my trades to day , like i said , i wake up at 5:30. so my sell stop was at 1.56441 on gbpusd , i did not put a buystop coz of the trend on the hourly , plus there was a midpoint on 1.5673.if the market had left a fractal above that point , thats where i wld have put my buy stop .at the moment @ 11:46 British time , i have moved my stop to 1.5672.i wiil exit when my stop is hit , or when it hits the high of the candle stick that closes above the red line.the same concept applies for the rest of the curencies i trade
You are right. It is an EA so you need to put it into your Experts folder then drag it onto the chart from the Navigator - make sure you enable Expert Advisors (Tools/Options/Expert Advisers/Enable Expert Advisors) or click ExpertAdvisors on the task bar.
I have found an indicator (attached) too. I run both at the same time.
I have improved the EA (new version attached) so that it gives you the Buy Stop or Sell Stop level and the Stop Loss too. You can choose the number of pips above and below the bar for the order and stop level. If you are using a 5 digit broker such as Alpari you need to enter 10 for one pip, otherwise use 1. Go to inputs tab when you drag the EA onto the chart.
I find this really useful.
Another feature I thought might be useful would be to shown the amount of Angulation but this is making my brain hurt at the moment because I can't decide how to do it. Any ideas?
