Re the 10 pips - at the moment - Probably. The ADR was around 150 when I came up with those numbers and it is between 180 - 220 lately so the stops and targets could probably be increased by the corresponding percentages. Or use the THV ATR suggestion at the time you make the trade. You can also just do two lots and set the second one the B/E + one pip when the first one reaches 10 . Anyway, that's what I've started to do .
I'm working on an EA to use for backtesting some of the common combinations used in the thread right now ( and a few variations of my own that I haven't shared yet). It's not finished yet but what I've seen so far using the optimizer is that the higher stops and targets that are yielding a nice profit over the last few months wipe out the account in 2007-2008 (but using an ATR stop it is possible to make a profit consistently from 2007-2010).
Re the rainbow - yeah, I do find this one even more useful than the others. I think I'll do a conventional one (using EMAs not VarMAs) that way too.
Re the Coral - I tend to look at the rainbow more. After watching it ( and it's variations so long) I can kind of see when it's too over-extended. I do like trades where there's been a nice run and then a fairly decent consolidation at the coral and then the 5m trix starts back down again.
I'm working on an EA to use for backtesting some of the common combinations used in the thread right now ( and a few variations of my own that I haven't shared yet). It's not finished yet but what I've seen so far using the optimizer is that the higher stops and targets that are yielding a nice profit over the last few months wipe out the account in 2007-2008 (but using an ATR stop it is possible to make a profit consistently from 2007-2010).
Re the rainbow - yeah, I do find this one even more useful than the others. I think I'll do a conventional one (using EMAs not VarMAs) that way too.
Re the Coral - I tend to look at the rainbow more. After watching it ( and it's variations so long) I can kind of see when it's too over-extended. I do like trades where there's been a nice run and then a fairly decent consolidation at the coral and then the 5m trix starts back down again.
DislikedThanks for the reply. You always seem to reply, keep it up!
I will apply 6 lights to your new clean rainbow template to see
how they are doing together
Don`t you think that 10 pips TP is a bit small?
Quite often there are trades that could give 20+ profit.
Maybe it`s worth to exit profit trade when m5 f trix changes color to opposite?
(just a thought )
And one more: do you take in consideration distance from PA to 1m coral?
I mean: if it`s too far - do not enter?
P. S. New rainbow with changing color - is wonderful!...Ignored