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  • #401
  • May 23, 2018 10:25am May 23, 2018 10:25am
can anybody please tell me is it not a valid sell signal/ look at yesterday's candle rejection from top to bottom and today going down??? is it fine???
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFDaily.png Size: 33 KB
  • #402
  • May 23, 2018 10:29am May 23, 2018 10:29am
Quoting Joseph95
{quote} Oh, ehy! Thank you! I completely forgot about this trade! Forget your trades guys and you will not suffer +800 still running. And it will run a lot.
Joseph, thank you for your insight, I too have been making $ with this simple strategy since the beginning of the month. It is fun to see my little account start to gain. And yes, there are losses. I am remaining cautiously optimistic that the growth will continue.
Wow! I've got some experience to gain.
  • #403
  • May 23, 2018 10:32am May 23, 2018 10:32am
Quoting itschub
I wouldn’t stress too much about having the same broker IMO. There will be setups on your platform that other people miss due to having a different broker to you. It will work out evenly. I reckon if you operate on GMT + 0 it should be okay but tell me if I’m wrong. London session has the most volume traded through so if your platform is close to GMT/BST then it will probably be sweet
Yes my broker is gmt+0
  • #404
  • May 23, 2018 11:37am May 23, 2018 11:37am
Quoting Daaimali
can anybody please tell me is it not a valid sell signal/ look at yesterday's candle rejection from top to bottom and today going down??? is it fine??? {image}
No trigger. Just download the demo as mentioned and do the comparison.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #405
  • May 23, 2018 1:45pm May 23, 2018 1:45pm
Quoting Daaimali
{quote} Yes i know i will have to wait for candle close, if you check out the other signal Signal candle closed clearly higher than previous candle and current candle touched buy stop. only 1trade i put before candle close that was just a scalping. 2nd thing is How can we change server time in mql4, mt4. can anybody please tell me.
You cannot change server time. However there are quite a lot of broker working with GMT +3 . Just get a demo and watch it . If u have the set up then place your order in your oeiginal broker. Alternatively charting platform tradingview operates with ny close you can also follow it there and place your order whereever your account is.
  • #406
  • May 23, 2018 2:27pm May 23, 2018 2:27pm
I know this is supposed to be used only on daily, weekly and monthly, but I still tried it on M5 and it works pretty well if you want to scalp or scalp to swing.
I used tradingview. All trades are from today until back approx. 1-2 weeks. No cherry picking. I didnt followed any
indicators or pay attention to trend, market structure, price action, news etc. so theres room for improvement. I just tried to find valid Type1 setups.

GJ, M5
Pips: +195,4
Trades: 14
Winrate: 85,71%

Uj, M5
Pips: +188,2
Trades: 21
Winrate: 76,19%

GBPNZD, M5
Pips: +236
Trades: 21
Winrate: 76,19%

EJ, M5
Pips: +263
Trades: 17
Winrate: 88,23%


Keep in mind that I always used the almost best possible exit. I know its not realistic, but this just shows whats possible if you let few positions run. TP1 RR1:1 was hit anyway most of the time. Its up to the trader what to make out of the rest. Like I said with keeping attention to price action theres much possible, but even trading this entry method blind its still profitbale for now. I know that 20 trades per pair are not much and I will keep on testing, but the results looking good for now.
  • #407
  • May 23, 2018 2:33pm May 23, 2018 2:33pm
Quoting Daaimali
can anybody please tell me is it not a valid sell signal/ look at yesterday's candle rejection from top to bottom and today going down??? is it fine??? {image}
I am telling everyone again. Technical analysis all good we use them but they are not powerful alone you need to watchout for news as well. If there is a crude oil inventory news soon stay out of CAD pairs wait till news settle down. Dont follow technicals blindly. It may turn out positive to you but why to risk it. There is plenty of pairs and there is trade everyday. Our goal is to ride the waves not guess where the wave starts. Keep an eye on the news as well as your technicals and you dont have to wonder why it didnt work out.

It is very likely that CADCHF resumes its move to higher but that has nothing to do with this setups.
  • #408
  • Edited 2:57pm May 23, 2018 2:44pm | Edited 2:57pm
Looks like some new opportunities on the Daily will (..."may") be setting up at 5 pm today.

EURCAD
EURAUD
EURGBP
(EURNZD possibly)
GBPAUD
GBPCAD
(GBPNZD possibly)

There are some other type 2's but they look questionable. Also keep in mind it is not a signal candle until the new day starts. Trade smart and realize that some of these pairs are highly correlated. Factor that into your risk. And...some are already in "inflection zones" on the H4 and are showing divergence on a number of indicators. For me, that means that I should keep in mind where the initial move started, where it is now, and to keep my stops tight.

The EURGBP is ambivalent but helps a little in determining which is better for me, the GBPCAD or the EURCAD. I'm going to go with the GBPCAD and see what happens.
  • #409
  • May 23, 2018 2:51pm May 23, 2018 2:51pm
Quoting david7
I know this is supposed to be used only on daily, weekly and monthly, but I still tried it on M5 and it works pretty well if you want to scalp or scalp to swing. I used tradingview. All trades are from today until back approx. 1-2 weeks. No cherry picking. I didnt followed any indicators or pay attention to trend, market structure, price action, news etc. so theres room for improvement. I just tried to find valid Type1 setups. ... Like I said with keeping attention to price action theres much possible, but even trading this entry method blind its...
Those are nice results David7. Thanks for sharing them with us. I was planning to get to the M5 at some point and your post confirmed my expectation.

Which sessions were you trading and what hours. That usually makes a difference when trading the M5. If you decide to post your general trading windows, please specify which time zone you used or post them in GMT-0 so people don't get confused. Thanks for considering.
  • #410
  • May 23, 2018 3:16pm May 23, 2018 3:16pm
Quoting Hambone
{quote} Those are nice results David7. Thanks for sharing them with us. I was planning to get to the M5 at some point and your post confirmed my expectation. Which sessions were you trading and what hours. That usually makes a difference when trading the M5. If you decide to post your general trading windows, please specify which time zone you used or post them in GMT-0 so people don't get confused. Thanks for considering.
You're welcome.
My timezone is UTC+2, I'm from Europe. I get confused with timezones, so I'm not sure if it helps you out. I used tradingview which also shows me UTC+2. I think UTC+2 is the same like GMT+2? Correct me if Im wrong.

I didnt take the trades on demo account, I searched for the setups and meassured the pips. I would've taken these setups if I were on demo, but unfortunately at the moment I have not much time for trading. I found these setups across all times and sessions. Ny, London, Asia, which speaks even more for the entry method. I usually trade only London/NY.

Someone else here mentioned it works on M10 too.
I tried M15 and H4 and the results were not good at least on the first sight, maybe needs more backtesting before I can judge it.
  • #411
  • May 23, 2018 4:02pm May 23, 2018 4:02pm
Here are the setups per the Dashboard update at 5 pm Eastern/NY Close.

Attached Image (click to enlarge)
Click to Enlarge Name: 20180523_Setups.jpg Size: 242 KB
  • #412
  • May 23, 2018 4:33pm May 23, 2018 4:33pm
Quoting david7
I know this is supposed to be used only on daily, weekly and monthly, but I still tried it on M5 and it works pretty well if you want to scalp or scalp to swing. I used tradingview. All trades are from today until back approx. 1-2 weeks. No cherry picking. I didnt followed any indicators or pay attention to trend, market structure, price action, news etc. so theres room for improvement. I just tried to find valid Type1 setups. GJ, M5 Pips: +195,4 Trades: 14 Winrate: 85,71% Uj, M5 Pips: +188,2 Trades: 21 Winrate: 76,19% GBPNZD, M5 Pips: +236 Trades:...
Great. Keep on going. I recommend d1/w1/mn but if you prove you can earn money also on m5... good for you my friend. I hope my thread helped you.

A dashboard for m5 with alerts could be useful, in your case

Continue to post ideas and backtests guys, let’s build something together

Cheers
  • #413
  • May 23, 2018 6:36pm May 23, 2018 6:36pm
Quoting Hambone
Here are the setups per the Dashboard update at 5 pm Eastern/NY Close. {image}
Hambone,
As for dashboard user how do you take weekly and monthly signals. Because the candles not yet been closed for the week or month so do you wait till it closes or you take it as it comes?
  • #414
  • May 23, 2018 7:53pm May 23, 2018 7:53pm
Quoting Kxeroo
{quote} Hambone, As for dashboard user how do you take weekly and monthly signals. Because the candles not yet been closed for the week or month so do you wait till it closes or you take it as it comes?
Hi Kxeroo. So far, I haven't taken any of the Weekly or Monthly trades as I prefer to trade the Daily. But, if i were to trade them, I would wait until the end of the week (Friday 5 pm NY) or the end of the month to close before I placed the trade.

But I would ask that Joseph95 give his insight since he devised this method. He may have a different perspective/suggestion.
  • #415
  • May 24, 2018 3:53am May 24, 2018 3:53am
thnx all
thnx Joseph95 ur explain and signal very good
  • #416
  • May 24, 2018 5:14am May 24, 2018 5:14am
Quoting Hambone
Here are the setups per the Dashboard update at 5 pm Eastern/NY Close. {image}
please do you change the setting on ur dashboard indicator,mine is not displaying like yours,my screen is fully displaced like your is...just want to know if you change the setting on you indicator
  • #417
  • May 24, 2018 7:07am May 24, 2018 7:07am
Quoting dkarev
{quote} please do you change the setting on ur dashboard indicator,mine is not displaying like yours,my screen is fully displaced like your is...just want to know if you change the setting on you indicator
Hi dkarev. I didn't change any settings. I first set the timeframe to Daily then applied the template that Asw provided. After the template, I loaded the type 1 and type 2 indicators separately. I'm still using the ones that handled the types separately and not combined into one dashboard. I haven't tried that one yet.
  • #418
  • May 24, 2018 7:13am May 24, 2018 7:13am
Quoting Hambone
Looks like some new opportunities on the Daily will (..."may") be setting up at 5 pm today....some are already in "inflection zones" on the H4 and are showing divergence on a number of indicators. For me, that means that I should keep in mind where the initial move started, where it is now, and to keep my stops tight. The EURGBP is ambivalent but helps a little in determining which is better for me, the GBPCAD or the EURCAD. I'm going to go with the GBPCAD and see what happens.
The GBPCAD trade just got stopped out. It happens right. We knew we were in an inflection zone already and the move that began at 1.8415 may be exhausted...we'll see.
  • #419
  • May 24, 2018 2:15pm May 24, 2018 2:15pm
Quoting Hambone
{quote} The GBPCAD trade just got stopped out. It happens right. We knew we were in an inflection zone already and the move that began at 1.8415 may be exhausted...we'll see.
Hambone, why did it get stopped out? According to the trading system, you needed to place sell stop below the signal bar. If the order had been placed correctly, it wouldn't have even been activated
  • #420
  • May 24, 2018 4:07pm May 24, 2018 4:07pm
Quoting Hambone
{quote} Hi dkarev. I didn't change any settings. I first set the timeframe to Daily then applied the template that Asw provided. After the template, I loaded the type 1 and type 2 indicators separately. I'm still using the ones that handled the types separately and not combined into one dashboard. I haven't tried that one yet.
i really appreciate your response to inquiry please help with the link to the template and the indicator you used, i believe the indicator i downloaded is the combine one...if you have the link where the indicator and template are please help me with it.
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