Nb 10.0 trend trading system

Can anyone change this indicator so we dont have to see these support resistance lines across the charts just the numbers (levels) on the right hand side is enough for me.
I've already changed it so you can pick a different line type instead of only solid lines across the chart?

Did you try changing the line color to the same color as your back ground chart color. That should work temporarily.

if you do that bob you dont get the levels on the right hand side. i want to see the numbers i just dont want to see all those lines on the charts.

Ok so i dl'ed the system and i have to say this looks pretty solid. I want to start using it from tommorow, but im not sure where to start exactly.
I have the profile loaded, and there are lots of daily charts, do you guys trade all pairs, or just a few, picked by the quality of how the are setup ?
ALso how am i supposded to go about it, i determine UT/DT/ or CTR, and then load the respective EA on the 1h or 4h of the pair?
I did read the manuals just not a 100% sure if i got it right.
kudo's to nanningbob !!

Send a PM to Squalou, I am sure he can do it. He designed the indicator.

Here is a version with new setting "Show_SR_lines":
set to False to draw only the SR level values on the right, not the fib lines;

Hope this is what you want;

SQ

Hi squalou

The chart looks a bit better. Dont need them running all over the chart.
Thankyou for doing that.

Thanks Squalou

A few months ago I posted about trying to figure out a methodology for using stops with the 10.0 Trend System. From the advice of a fellow trader and just the pursuit of wanting to find a good method to go about this, I began researching and testing to find something more effective. I used to trade this system at 10 pips above / below the S/R line and used a wide stop above the next level with a target that was at least a 1:1 RR ratio. I have made a number of adjustments and wanted to share them.

Entry

You all have heard "old support, becomes new resistance" and visa versa in a trend. If you look at the enclosed AUD/USD chart, you will see a great example of this. Price breaks out, comes back to re-test the level, then proceeds back up to test resistance for another breakout. Then, the cycle happens all over again and again, until the trend ends... So a large majority of the time, the price comes back and re-tests the breakout point. Occasionally it does not come back, but that is no big deal, I just wait for the next opportunity. So, I have adjusted my entry strategy to take the trade on the re-test after the break of the line.

One area I want to clarify as well and the enclosed chart of my AUD/JPY trade shows it pretty well is the entry after the break. If you look at the first break of 82.13 level, notice the next candle where it shoots right back up. I don't like to take those entries. If you look at the next break, where it slowly works it way back up to the level, those are the ones I prefer. This entry method has solve a number of issues I have had, which I will explain a bit later.

Stops

The revised entry method explained above has allowed me to improve the stop location. Since I am waiting for a true break (confirmed with time above/below the level shown with mulitiple candles), the false breakout is virtually removed. How many times did you set an order 10 pips beyond and it snaps the other way and takes you out above the next line? My previous trading with a wide stop beyond the next line, really erodes the RR ratio as well. So, at my new entry point, I use a variable stop based on the pair and its volatility. For example, E/U - 30, GU - 40, GJ - 50, GN - 100 and it might fluxuate a few pips either way based on the structure on the chart. Also, over time volatility can change. I remember GJ a couple years ago was much more volatile than it is today.

Orders

How many times have you taken the trade on the break, it goes into profit, so you move up your stop to breakeven. It comes back and retests the level and takes you out? The new entry method takes out this first re-test, but what about a second or maybe a third? Now instead of placing one trade, I place 2, equal in size. The first trade I set to 1:1 RR. For example, if I have an entry on EU and my stop is 30, I will have a target of 30 or structure on the chart. The second trade has the same stop at 30, but the target is set down further where I can adjust it as the pair runs in profit. What is so great about this is when you hit your first target, your second "running" trade is at worst case risk free. If it re-tests a second time and breaks to your stop, on the two trades your breakeven. So, lets take my AUD/JPY trade. My first target has already been hit at 81.70, just before the long bar low. Now you see my second trade running, currently at 81.18 with a target of 80.90. So, my first trade is a little more than 1:1 and my second trade would be just over 1:4 (30 pip risk-123 reward). The other beauty about 2 orders is on the second or third re-test, your stop is on the other side of the line vs in front of the line. So, you can see how your RR ratio will improve over the wide stop method.

One thread which was great and provided alot of info to my adjustments here is "Trading with Deadly Accuracy" by wmd (aka Will). Fantastic read and would highly recommend it...

Good trading to you all.

George

Each EA has its own time frame it works on. I know it can be a little complicated at first but make sure you match the EA with the TF you are trading on. 10.1 series we just use pending orders and am not using EAs.

First Major - sorry for the late reply.

The forum you mention is an excellent resource and Strat is a good but firm teacher. I've know him for about 4 yrs now and his methods and sound and enduring. You could always ask Admin for a trial period via his site - they can only say no. If you want to know more PM me as this is Bob's thread for his method. Grim.

Hi NanningBob,

I have started using the method in demo yesterday. I had a very nice day, making $10.00+ on 1500 Demo account using .03 lots. I'm just trying to get the feel for the system and where to place the pendings, SL and TP. I was wondering, I know you use to use Steve Hopwood's MPTM EA in the past to manage your profit taking and SL settings. Do you use that at all with 10.1 or are you stictly selecting TP and SL levels base on SR.

Thanks - TCO.

Hi bob,
Been reading this thread and trying to understand one this. Can the 10.1 method be used the same way on the 4h timeframe?

In otherwords, how do I trade the 4H timeframe using this system? Does all the same rules apply?

Sorry for the late reply. I am down in Bei Hai and the internet is more iffy here. Finally got to FF. I do use the MPTM but have not incorporated it into 10.1 because I use the MA lines for my SL areas. The MPTM uses fixed figures in pips so it is less useful in 10.1 Now that prices are ranging I am using the 4H CTR EA more often. So I have basically settled into 10.1 trades when price is trending, 4H CTR when price is ranging. Right now most pairs are ranging. I especially like trades on the 4H CTR that match the upper and lower lines with a daily or weekly S/R lines. I also like what George has written a couple of posts back and will get into his thoughts when I get back home. Just not getting good internet connection right now. So MPTM usage is down right now.

Yes you can. I get my reads of how I want to trade from the daily and then go trade lower time frames depending on what I see. I use the 4H CTR most of the time on 4H and will add the S/R lines to the system at some point. Practicing using it now. Taking breakouts on the 4H using the same lines probably would work but I have not traded that way yet. The beauty of 10.0 are the reads and they do fit other trading methods. The purpose of it was to improve other trading methods and systems. Had one guy PM on his success on a 5M chart scalping. He reads the direction of the trend or range and then trades accordingly with his known system on a 5M chart. 10.0 is very flexible and that was the reason for its development. If you have an idea that the market is trending or ranging helps you to decide how to trade the market that day or week. So if you get a read on the daily and then use the same lines on the 4H helps you trade go for it. Sounds to me if daily is ranging then trading range on the 4H should work very well. If daily shows trend you could get solid reentries off of the 4H chart also.

Nice channels and trendlines. We need more pics like this posted so other traders get a better idea of how to trade.

Please feel free to post more pictures and trades with your ideas. Several posts with pics further explaining your idea would be great. I will digest your thoughts after I get back from my mini vacation. China has New Year holiday and just took off for a couple of days.

January was a slow month for me and I dont trade the first week but still up around 5% for the month. I had upped my lot size and then took several hits at the higher lot size so I went back to my regular sizing. This cut out some of my profit but still made a profit. Having a really good week using the 4H CTR. Markets are ranging so using ranging EAs the last couple of days.

Squalou - could you edit or make a new Weekly version of this to say show the weekly levels in the same way? I prefer the higher time frames as I can set and forget. A weekly addition of the same indy would be most welcome. Thanks for a great indy!

Bob, what do you use as the signal to enter on the 4H CTR. As you know, in a trending market things can be extended for a while (e.g., the gbp/jpy in the early part of this week). Do you wait for the price to cross the ma3? Do you trade on the close of bar or interbar?

Thanks!