Yes but this pair is not very trend friendly. Like most cross pairs it is caught between a rock & a hard place. EU looks to want to go down & cad will be driven down by the USdollar. so this pair is likely to range.
Thank you very much for the corrections. And regard the other screenshot? The one you didn t correct, all good? Because if we anchor the trendline back, then is too flat(?)
I am trying to capture this stategy in an Expert Advisor:
Inserted Video
The program tries to avoid too steep trendlines, and tries to limit them to about "45 degree" lines (taking average screen size and auto-scaling of MT4 into account). The trendline is updated when a new high/low has formed. Defined as a high/low surrounded by at least TWO lower/higher bars at each side.
I have trouble understanding how to draw the initial trendline right after switching from long to short or vice versa. Often there are not a lot of bars in the new direction yet, so the trendline is hard to draw. Only after the first new high/low we know how to draw the trendline.
Sometimes it takes a long time before a new high/low has formed. See for instance at 1:08 in the video. Am I too strict with my definition for a new high/low (with 2 bars at each side)? Is only one bar at each side enough?
Ralffe,
Subscribed a couple days ago. A big thank you for starting this thread and sharing your idea. Quick H1 visual back testing several trending pairs looks really great. In the spirit of sharing here is a link to a helpful HH HL LH LL indicator sangmaneHL.ex4 in this thread https://www.forexfactory.com/showthread.php?p=7132802.
I found it helps setting and changing the trend lines as the price moves.
Thanks again for sharing.
John
It seems like we've completed a market cycle and the positioning of retail traders in AUDUSD switched from bearish to bullish on Friday, which is a good sign it's going down.
It seems like we've completed a market cycle and the positioning of retail traders in AUDUSD switched from bearish to bullish on Friday, which is a good sign it's going down.
HH & LL indicators, zigzag indicators. Thanks but no thanks. I perfected this system by eliminating all indicators & don't intend reintroducing any.
K.I.S.S.
I am trying to capture this stategy in an Expert Advisor: https://youtu.be/w_kTN9V6Jwg The program tries to avoid too steep trendlines, and tries to limit them to about "45 degree" lines (taking average screen size and auto-scaling of MT4 into account). The trendline is updated when a new high/low has formed. Defined as a high/low surrounded by at least TWO lower/higher bars at each side. I have trouble understanding how to draw the initial trendline right after switching from long to short or vice versa. Often there are not a lot of...
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Interesting BUT. Maybe for lower time frame trading but for Daily time frame this is just not necessary as you always have plenty of time to enter & exit.
{quote} Thank you very much for the corrections. And regard the other screenshot? The one you didn t correct, all good? Because if we anchor the trendline back, then is too flat(?)
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Once again. Stay away from the cross pairs. On the AudNzd pair you would have been in & out like a yoyo. Messy & definitely not trend friendly.
{quote} Once again. Stay away from the cross pairs. On the AudNzd pair you would have been in & out like a yoyo. Messy & definitely not trend friendly.
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Hi Ralffe. Sorry but i'm a newbie, what is the difference between cross pairs and no cross pairs? How can i know which is a cross pair and which not?
Interesting BUT. Maybe for lower time frame trading but for Daily time frame this is just not necessary as you always have plenty of time to enter & exit.
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Yes indeed, your strategy is so simple and clean that using an EA is not necessary, especially on the Daily time frame.
I am trying to understand how to draw the trendline immediately after having switched between long/short direction. Typically there are not a lot of bars yet in the other direction, so drawing the trendline is not easy. Should the trendline be against the first bar in the other direction? Or should we wait with drawing a trendline until there is a new high/low so it is clear how the trendline should be drawn?
Hi MrGreen95, Eur/Nzd is another cross pair. Google "Forex Cross pairs" and there are lots of link to get your answer. Sometimes you learn more by looking up and investigating yourself!
Green pips to you!
