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Simple Low Risk Price Action Trading w/ TE Results

  • #221
  • Oct 9, 2017 12:55pm Oct 9, 2017 12:55pm
Quoting OCrhino
{quote} Did you take the trade on the GBP/JPY about 2 1/2 hours prior to the one you took in this chart? At that time it would of been 4/4 with divergence. Looks like it would of been a trade that stopped out, which happens. But I also want to make sure if you saw it there was a reason for not entering. Thanks
At the high of the day on the 15 minute chart it was rejected at the 1 hour 100 EMA and was overbought on the stoch so that pullback wasn't nearly enough to be a valid trade. I cross checked this pair and once the stoch dropped below the 30 on the 1 hour chart and aligned with the support it was a much better entry. Plus it wasn't a 4/4 signal on my chart, it could be different on yours but when the stoch went under 30 it had already breached the PSAR and in order to get a 1:1 the price would have had to blow past the 100 EMA on the 1 hour chart which it already rejected. That would have been a very high risk with a low reward potential opportunity even if 3/4 signals line up.

I just attached both the 1 hour and 15 minute chart so you can see why the 3/4 signal was not a valid opportunity if you cross check the pairs as I recommend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 100917 GBPJPY 1.JPG Size: 167 KB
Click to Enlarge Name: 100917 GBPJPY 2.JPG Size: 304 KB
  • #222
  • Oct 9, 2017 1:17pm Oct 9, 2017 1:17pm
Quoting Embry1
{quote} At the high of the day on the 15 minute chart it was rejected at the 1 hour 100 EMA and was overbought on the stoch so that pullback wasn't nearly enough to be a valid trade. I cross checked this pair and once the stoch dropped below the 30 on the 1 hour chart and aligned with the support it was a much better entry. Plus it wasn't a 4/4 signal on my chart, it could be different on yours but when the stoch went under 30 it had already breached the PSAR and in order to get a 1:1 the price would have had to blow past the 100 EMA on the 1 hour...

Thanks for the break down. I do have to remember to check the 1 hour before making a trade on 15. For some reason my stoch is slightly different from yours even though I am using the same numbers.
  • #223
  • Oct 9, 2017 1:27pm Oct 9, 2017 1:27pm
Quoting OCrhino
{quote} Thanks for the break down. I do have to remember to check the 1 hour before making a trade on 15. For some reason my stoch is slightly different from yours even though I am using the same numbers.
First, make sure your stoch settings are correct. If they are, it could be your broker and data feed. I discovered a couple weeks ago that if you're spreads are high like a classic account with no commission (meaning the spread is larger for the broker profit) then it could affect the signals slightly. I'm not sure if the stoch would be affected as much but the PSAR for sure was different between the accounts. All of my feed comes from a commission based STP account so the feed is as close as possible to the actual price and the price is calculated from the bid.
  • #224
  • Oct 9, 2017 3:24pm Oct 9, 2017 3:24pm
It s time.... H4: SL 10 pips under last low/high...tp: 100 pips is a good strat!

Attached File(s)
File Type: ex4 Embry - Divergence V1.00 - Simple Arrow+AlertV2.7.ex4   30 KB | 377 downloads
Vucking good EA coder... https://t.ly/AZjRM
  • #225
  • Oct 9, 2017 8:28pm Oct 9, 2017 8:28pm
Here is my absolute worst trait as a trader. I spot a really good setup and I cut it short out of fear. Most times when the trade goes in your favor immediately, it's going to be a big winner. Psychology plays such a big part in trading, I'm glad the strategy part is worked out. This trade would have hit my initial TP as I have shown here but it blew past the resistance and is heading for the next level.
Attached Image (click to enlarge)
Click to Enlarge Name: 100917 EURUSD 1.JPG Size: 510 KB
  • #226
  • Oct 9, 2017 9:02pm Oct 9, 2017 9:02pm
Quoting reteid2222
It s time.... H4: SL 10 pips under last low/high...tp: 100 pips is a good strat! {file}
Thank you Reteid this looks amazing.
  • #227
  • Oct 10, 2017 9:15am Oct 10, 2017 9:15am
Quoting reteid2222
It s time.... H4: SL 10 pips under last low/high...tp: 100 pips is a good strat! {file}
Thank you for the nice indicator. Glad to see the positive feedback for this strategy, hopefully it can help everyone make some money!
  • #228
  • Edited 9:29am Oct 10, 2017 9:17am | Edited 9:29am
Quoting AngelicaMari
{quote} Thank you Reteid this looks amazing.
i just have to put the buy sell code into my framework if the signals r right:
Inserted Code
 bool Buy(int i){
   return
      stoch.greenCrossedRedUp(i)
      && EMA100.PriceOverMA(i)
      && EMA100.Up(i)
      && pSar.Under(i)
      && Close[i]>BB.ValMiddle(i)
      ;
 }
As U see here
https://www.forexfactory.com/printthread.php?t=645260
my possibilities r nearly endless.....
Attached Image (click to enlarge)
Click to Enlarge Name: success women.jpg Size: 144 KB
Vucking good EA coder... https://t.ly/AZjRM
  • #229
  • Edited 9:57am Oct 10, 2017 9:31am | Edited 9:57am
Support and resistance with divergence is giving some amazing results. On days where the signals are light, this can turn a 2/4 or 3/4 signal into a big winner. Took the third trade on this chart on my live account.

EDIT: Holy cow did that TP get hit, I'm glad it got hit but it seems I left some money on the table. Second picture is results.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101017 GBPUSD 1.JPG Size: 196 KB
Click to Enlarge Name: 101017 GBPUSD 2.JPG Size: 151 KB
  • #230
  • Oct 10, 2017 12:24pm Oct 10, 2017 12:24pm
Getting some good opportunities today! 8th consecutive win for the live account. Now if only I could hold my trades longer I would be even more excited. I have a bad habit of cutting trades before TP and it seems like every time I do so, it hits my original TP. I really gotta work on that, but the strategy is on fire! I took this EUR/USD trade but I saw the USD/CHF as well. Similar setup for both, in fact the USD/CHF may have been a cleaner trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101017 EURUSD 1.JPG Size: 180 KB
Click to Enlarge Name: 101017 USDCHF 1.JPG Size: 138 KB
  • #231
  • Oct 10, 2017 1:26pm Oct 10, 2017 1:26pm
are there any indicators that work on the CTrader platform? I have tried to convert the downloaded file into CAlgo but it does not seem to convert well. thanks in advance.
Just trying to put a kiss on the cheek of success
  • #232
  • Oct 10, 2017 2:06pm Oct 10, 2017 2:06pm
Quoting pet3250
are there any indicators that work on the CTrader platform? I have tried to convert the downloaded file into CAlgo but it does not seem to convert well. thanks in advance.
Only suggestion I have is if your platform has these indicators just punch in the correct settings manually. As far as the divergence indicator and reteid's indicator you probably wont be able to use those.
  • #233
  • Oct 11, 2017 4:39am Oct 11, 2017 4:39am
Quoting Embry1
{quote} Only suggestion I have is if your platform has these indicators just punch in the correct settings manually. As far as the divergence indicator and reteid's indicator you probably wont be able to use those.
Simply I would improve this indicator and use ur divergence approach to get only the good signals...so please tell me where is the explanation on this thread(POST NO)!
Or is it just wait for divergence arrow and wait after this arrow if all 4 conditions r true?
Vucking good EA coder... https://t.ly/AZjRM
  • #234
  • Oct 11, 2017 7:26am Oct 11, 2017 7:26am
Quoting reteid2222
{quote} Simply I would improve this indicator and use ur divergence approach to get only the good signals...so please tell me where is the explanation on this thread(POST NO)! Or is it just wait for divergence arrow and wait after this arrow if all 4 conditions r true?
Hopefully this will be a good enough explanation of the support/resistance with divergence with this strategy. So in this picture I identified the two bearish divergence signals that I would look at for this trade (red lines) and the orange box is the support/resistance. Price action broke through this level to the downside and as it came back to retest the level, 4 signals lined up with divergence as it tested the new resistance level. So in this case I would consider this a valid trade once the price reaches the resistance level and I would invalidate the trade if the price broke through the resistance level (orange box) to the upside. So the red and green box is the S/L and T/P. The S/L goes just a few pips above the new resistance level and the T/P can go just a couple pips before the previous low.

For a trade with the support/resistance and divergence setup I would take as low as a 2/4 signal (100 EMA and stoch 30 or 70) but 3/4 or 4/4 is obviously preferred for better results. The only reason I would take a 2/4 is for more opportunities. You don't want to wait for the arrow to print because the trade entry will be far too late.
  • #235
  • Oct 11, 2017 8:28am Oct 11, 2017 8:28am
Reteid2222 thank you for working on this, I have looked at your work and I am very impressed.

The way I would explain this and please correct me if I am wrong Embry1. The order of importance for me the filters to take a trade and the most profitable trades are.

On a sell trade
1 - the price action is below the 100 moving average
2 - the price action is below the sar
3 - there is divergence showing on the indicator
4 - the signal line is moving from over bought area moving down past the 70 level (This is the trigger to take the trade for me)
5 - Because all of the above filters are lining up you will see that you are usually bouncing off a support area on a pull back in a trend. The beautiful part is it is your are moving in the direction of the trend. I think for Reteid to code bounces off a support into the indicator will be harder (I shouldn't speculate she is a great coder) I personally think if the first 4 are coded in and we test it the indicator will shine as bright as your do Reteid2222.

You can if you want have the option remove a filter to make it 3/4. I wouldn't go 2/4 myself because it would lower your profitability. if we can put your indi on 28 pairs I think we would have plenty of profitable trades and not need to lower the amount of trades to 3/4 let alone 2/4.
  • #236
  • Oct 11, 2017 9:33am Oct 11, 2017 9:33am
Quoting reteid2222
{quote} Simply I would improve this indicator and use ur divergence approach to get only the good signals...so please tell me where is the explanation on this thread(POST NO)! Or is it just wait for divergence arrow and wait after this arrow if all 4 conditions r true?
One small thing on your indicator. Please allow us or please move the arrows back a little from the candles. It will make it easier for me to review the SL and TP levels that are most profitable.

Cheers <3
  • #237
  • Oct 12, 2017 8:26am Oct 12, 2017 8:26am
A short review of my work...coded both of ur ideas...U can choose the filters...
Missing: S/R..will try 2 do it tonight if I can catch free time....
If the indicator will be ready...i ll copy the code into the ea framework!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB
Attached File(s)
File Type: ex4 Embry - Divergence V1.01 - Simple Arrow+AlertV2.71.ex4   36 KB | 436 downloads
Vucking good EA coder... https://t.ly/AZjRM
  • #238
  • Oct 12, 2017 8:28am Oct 12, 2017 8:28am
This is the buy logic as code...but I hope to have written it to be readable 4 non coders:
Inserted Code
//  ***************************************************************************************************************************************
//  Buy and Sell Functions
//  *************************************************************************************************************************************** 
 bool Buy(int i){ 
   return 
      (!useFilterStoch || stoch.greenCrossedRedUp(i))
      && (!useFilterEMA || EMA100.PriceOverMA(i))
      && (!useFilterStochDiv || StochDiv.up(i+1))
      && (!useFilterBB || Close[i]>BB.ValMiddle(i))
      && (!useFilterpSar || pSar.Under(i))
      ;
 }
Vucking good EA coder... https://t.ly/AZjRM
  • #239
  • Oct 12, 2017 8:58am Oct 12, 2017 8:58am
Quoting reteid2222
A short review of my work...coded both of ur ideas...U can choose the filters... Missing: S/R..will try 2 do it tonight if I can catch free time.... If the indicator will be ready...i ll copy the code into the ea framework! {image} {file}
Great work, can't wait to try all this out. I'm currently on vacation so I'll test it next week.
  • #240
  • Oct 12, 2017 9:59am Oct 12, 2017 9:59am
Hello Embry1 nice strategy and thread. I think I have the just of it. I'm still catching up, but it looks like you can bank some nice pips if you get all the confirmations.

Quick question as we trading a lower TF these would be shorter intraday trades, so what is your typical TP that you shoot for?
Truth is like poetry. And most people f*cking hate poetry.
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