you might be interested in joining this group. He has some very nice indicators for mt4 as well.
Bill Williams Profitunity Chaos Trading 440 replies
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Trading in the Zone advanced indicator (Trading Chaos by Bill Williams) 12 replies
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[b]DateSignalPriceSLP/L[/b] 20.4.2007 15:55F118.78118.47-0.31[color="Red"]-310[/color] 20.4.2007 15:55BL118.83118.47-0.36[color="#ff0000"]-360[/color] 20.4.2007 15:55BL118.78118.47-0.31[color="#ff0000"]-310[/color]
DislikedI looked into this briefly. I believe it was intended for daily timeframes originally and meant to take in trending sections (Alligator opens it's mouth etc).
Imho back when I checked it simply lagged price lightyears du to relying on so god awful many moving averages/oscillators and caught the last 5-15% of most moves if at all.
Did not convince me at all. Even most 4h EMA crosses would most likely do better on average(especially with pullback entries).
If you can make it work for you, all the better, but imho it's just making a basic concept (if the market moves strongly, follow it) a lot more complicated than it needs to be. Even a Breakout system is a lot more effective.
Ask our good friend MrTrend or have a look at StevieT....super simple approach, still gets net pips.
Just my opinion.
Good candidate for retrace end...
a Buy stop order -1 lot - placed above the Divergent (reverse) Bar at 1.3575
a stop loss place on the other side of the bar at 1.3536
whish me good luck
So 1 lot buy stop order placed above the rev.bar at 1.3576
another 1 lot buy stop order placed above AC signal bar 1.3588
stopLoss moved below the new DB at 1.3542
let's see what will be the future...
I'm wondering about stop loss - whether I should move it up or leave it where it is...
The distance from the market is widening...
Above all we are in the zone so on each close that is above previous one I'll add more orders - but this is the future yet...
At present I have 12 open orders (last 2 lots) total: 13 lots showing a profit of 3 257.80 at current price 1.3637
let see what will be today
Good luck to all traders!
PS: I'll appreciate if anybody takes the plunge and comments the situation.
I'll appreciate any opitions and will consider them. The more the heads, the better the result
DislikedI love this type of trading! Just rated the thread - ***** stars for you!Ignored
I really appreciate your thread. I just started trading this method after reading Bill's 2nd edition of Trading Chaos. It really helps to see how other traders trade this method. Have you read New Trading Dimensions by Bill also ? I have just ordered it and plan on doing some more reading over the weekend. I wish you well and look forward to following your thread. Keep up the great work !!!Ignored
Trading is very fastinating way of life and I like it...
Wish you many profitable pips
DislikedAs time permits me, I will be glad to share some of my experiences with using all or part of the Profitunity trading approach;Ignored
DislikedHave very sound risk management rules (the Profitunity way doesn't give you much guidance here!);Ignored
QuoteDislikedThe purple/pink like is SMA 5 (5 bar simple moving average) offset 3 into the future.
This is a new stop-loss. Two consecutive closes below/above the pink line is stop-loss, or place SL on the low/high of these, and if not triggered continue the trade.