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Trading with range bars ichimoku cloud & awesome oscillator

  • #2,541
  • Feb 7, 2018 8:22pm Feb 7, 2018 8:22pm
Quoting Canning34
Hi RP first want to say big thank to you and everyone else who contributed to this thread. I've read through most of it and I think it's a very interesting system, as long as you can stay disciplined and recognize ranging markets. I finally got range bars working, and gave it a shot last night. Please let me know if I followed the system correctly, this is on EJ early this morning GMT. I think I could've let both run, but as I was just trying it out I stuck to my RR. I like how you can have a tight SL, a lot of the systems i currently trade are...
I've found golden-way's idea of changing Senkou Span to 26 instead of 52 matches rockypoint's cloud more accurately on MT4. Here you can see the differences and compare it to rockypoint's EURUSD:
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  • #2,542
  • Feb 7, 2018 10:40pm Feb 7, 2018 10:40pm
Quoting darien95
{quote} I've found golden-way's idea of changing Senkou Span to 26 instead of 52 matches rockypoint's cloud more accurately on MT4. Here you can see the differences and compare it to rockypoint's EURUSD
Awesome mate thank you for the reply! Must have missed GW's post, lots to read through here . Will try it and see!
  • #2,543
  • Feb 8, 2018 5:49am Feb 8, 2018 5:49am
Quoting darien95
{quote} I've found golden-way's idea of changing Senkou Span to 26 instead of 52 matches rockypoint's cloud more accurately on MT4. Here you can see the differences and compare it to rockypoint's EURUSD: {image} {image} {image}
Thanks for that.So what are all the parameters? 9/16/26?
  • #2,544
  • Feb 8, 2018 5:50am Feb 8, 2018 5:50am
Quoting civilpes2001
{quote} Hey thanks for the indi, but I am unable to get the dialog box as you have shown on the pic. Not only this but none of the range bars Indis which I have tried over in this thread are unable to open in the chart. Can you help in resolving this.
I will make a short how-to video and post today.
  • #2,545
  • Feb 8, 2018 9:21am Feb 8, 2018 9:21am
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  • #2,546
  • Feb 8, 2018 9:37am Feb 8, 2018 9:37am
Quoting rockypoint
{image}{image}{image}{image}
Awsome Rocky,
I am following your system past this month.
One question Rocky,
1. SL is not clear to me, where can I set SL
2. And where I take TP.

I am waiting for your opinion sir,
  • #2,547
  • Feb 8, 2018 9:47am Feb 8, 2018 9:47am
I usually set my stop loss and previous swing hi or swing low, as for tp I don't set one I go by discretion and get out when it feels right.
  • #2,548
  • Feb 8, 2018 9:51am Feb 8, 2018 9:51am
Quoting rockypoint
I usually set my stop loss and previous swing hi or swing low, as for tp I don't set one I go by discretion and get out when it feels right.
Rocky,
Thanks for your answer, as i saw your screenshot most of the time your get out the right time. How do you recognized the right point sir,
  • #2,549
  • Feb 8, 2018 10:23am Feb 8, 2018 10:23am
Getting out of a trade can have many reasons, price structure breaks down, I'm done trading are probably my most 2 common reasons for getting out, others might be a divergence forming, s/r being broken, news is coming, price is just trading sideways. I don't offer black and white choices as I strongly believe in discretionary trading.
  • #2,550
  • Feb 8, 2018 12:07pm Feb 8, 2018 12:07pm
Quoting ichikuse
{quote} Thanks for that.So what are all the parameters? 9/16/26?
Yes, but even those settings aren't a perfect match for rockypoint's charts, but they are much closer than 9/16/52. I've found anything from 24 - 30 for Senkou Span is good for looking more similar to rockypoint's charts.
  • #2,551
  • Feb 8, 2018 1:54pm Feb 8, 2018 1:54pm
Quoting darien95
{quote} Yes, but even those settings aren't a perfect match for rockypoint's charts, but they are much closer than 9/16/52. I've found anything from 24 - 30 for Senkou Span is good for looking more similar to rockypoint's charts.
Thanks.
  • #2,552
  • Feb 9, 2018 1:30am Feb 9, 2018 1:30am
Quoting civilpes2001
{quote} It is not working in my platform. Can you suggest another one which can be workable.
Here is a video i made on how to upload range bar charts.I had to re-upload a new one because in the previous one i mistakenly said: since gold has fewer digits than currencies, you needed to put a value of 5 and not 50 like currencies if u want 5 pip range bars for the particular EA i was referring to.Actually it is not gold i meant but oil.I am also uploading the EA used in the video.
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File Type: ex4 Range Bars.ex4   15 KB | 457 downloads
File Type: mp4 How to apply range bars in MT4.mp4   3.7 MB | 652 downloads
  • #2,553
  • Feb 9, 2018 4:06am Feb 9, 2018 4:06am
Hi people.Made a quick 34 pips on gbyjpy sell after gbp news.Still watching the pair.GBP could test or go beyond yesterday's lows.Who knows...
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  • #2,554
  • Feb 9, 2018 4:36am Feb 9, 2018 4:36am
Good trade Ichi,
To late for me to catch but GBP/NZD, GBP/AUD and GBP/JPY would have all been good trades.
  • #2,555
  • Edited 5:06am Feb 9, 2018 4:54am | Edited 5:06am
One of the biggest challenges of this system is that when price goes below a cloud or above, sometimes you sell or buy only for price to go against you.
I would like to share a way of trying to minimize entering too early.This method is one of RP's methods which he shared on another thread on FF. When the 100 period EMA crosses the 6 period EMA its usually a good confirmation of bullishness or bearishness. Use your own discretion.I am not saying always wait for the cross.

One of the instances where you may not wait for the cross and enter aggressively is when price just goes above/below cloud if there is divergence.Try it and see if its helpful.As in the trade i took above (gbpjpy sell), i only entered when the EMA's crossed.Note that the signal/confirmation is more reliable when price has made a very pronounced high/low and reverses.The method helps you catch reversals early.One of the most important aspects of RP's trading is the high and the low.When you analyse RP's charts u notice that he enters aggressively when price reverses after failing to go higher /lower.For this reason, i recommend using a high/low indicator, a basic one that doesnt clog the charts.

I have attached here a chart when i sold gbpjpy after the cross as well as the moving average cross indicator.Please do not trade crosses without analysing price action and s/r levels/trendlines. Sometimes the crosses are invalid.They work well after a long period of rising prices or falling prices and likewise they work worst with choppy charts.You still need to draw s/r levels and trendlines.

So what i do is that i work on my ichimoku template and watch price .When i am about to take a trade i apply the EMA cross template to gauge when to enter.

RP says with this system(the ichimoku system),its like second nature to him.He has been using this system for many years with numerous trades.He knows a good setup when he sees one.Why? Because in Bruce Lee's words, "I FEAR NOT THE MAN WHO HAS PRACTICED 10 000 KICKS ONCE, BUT I FEAR THE MAN WHO HAS PRACTICED ONE KICK 10 000 TIMES".

I read RP's post last year and immediately told myself this is going to be my system and i have never looked back.I am glad that i saw the thread early otherwise i was trying evrything already.Fortunately i settled on this very early in my trading career.

Guys, we can be consistent like RP.Lets keep practising. I started demo trading last year in April i think.Today, i have a live account.i am not anywhere near RP but i have hope because i catch some good wins at times and some good losses too.My losses are mostly due to greed, indiscipline and all the bad things like impatience etc but im working hard on that.I aso have a full time job as an employee.

Let us learn one kick ten thousand times, let us not move from indicator to indicator, method to method. RP's strategy is arguably the best out there. We must never stop learning.I recommend a guy called Navin Prithyani. He is on youtube. He teaches awesome price action.

Pardon my long post.I am just passionate about this system because i believe one of the days, when i leave my job, the system will sustain me.
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Attached File(s)
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  • #2,556
  • Feb 9, 2018 4:56am Feb 9, 2018 4:56am
Quoting alcol
Good trade Ichi, To late for me to catch but GBP/NZD, GBP/AUD and GBP/JPY would have all been good trades.
Maybe there will be a retracement........
  • #2,557
  • Feb 9, 2018 5:26am Feb 9, 2018 5:26am
HI RP.Sometimes you trade the London seesion.Please let me know if you still use the strength indicator the same way u use it in the US session.I am asking because sometimes there is littlle volatility in the Asian session.
  • #2,558
  • Feb 9, 2018 6:16am Feb 9, 2018 6:16am
Quoting darien95
{quote} Found an error with the EA I posted earlier. It keeps closing buy trades immediately after entering them. Here are two other trade management EAs on forexfactory: A basic breakeven EA https://www.forexfactory.com/showthread.php?t=312481 Breakeven plus many other features https://www.forexfactory.com/showthread.php?t=89371
thank you very much
  • #2,559
  • Feb 9, 2018 9:30am Feb 9, 2018 9:30am
I use forex power ind. no matter when or what system I'm using.
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  • #2,560
  • Feb 9, 2018 11:45am Feb 9, 2018 11:45am
Quoting rockypoint
I use forex power ind. no matter when or what system I'm using. {image} {image} {image}
Hi Rocky,
If you don't mind please share your Forex power indicator.
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