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  • #541
  • May 25, 2018 9:39am May 25, 2018 9:39am
Quoting Denondj87
{quote} Hi i looked at the currency pairs on scorpionfx and i compared them on myfxbook forecast and mt4 but some are contraria your approach, can you explain me well maybe i did not understand very well your approch there are things to explain well before....in conclusion of we bad opened the position we would be more at loss than profit i state that i am non a newbie in trading and your approach is new for me i ask you to explain well what you do and that you look before opening a position trade thank you very much
Eevrything has been explained, I suggest you you read all 27 pages of the thread. And if you're completely new to trading I wouldn't focus on this just yet. Without knowing the basics like market structure, candle stick analysis, important zones, no strategy will work for you.

So how did everyone do this week? I had a nice winner on GBPUSD
  • #542
  • May 25, 2018 9:45am May 25, 2018 9:45am
I cant understand why the EA for pullbacks. Why not just follow the rules.

What if the CAD/JPY doesn't have a pullback for days. The trend could last weeks and the RSI wont go above. You're missing out. But I'll leave you to it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CADJPYRSI2TradingView.png Size: 136 KB
Click to Enlarge Name: CADJPYRSI2MT4.png Size: 13 KB
The most violent element in society is IGNORANCE
  • #543
  • May 25, 2018 9:57am May 25, 2018 9:57am
Quoting neilgroom
I cant understand why the EA for pullbacks. Why not just follow the rules. What if the CAD/JPY doesn't have a pullback for days. The trend could last weeks and the RSI wont go above. You're missing out. But I'll leave you to it. {image} {image}
It has 2 trigger, one pullback and another is breakout. IF no pullback and RSI2 directly go to oversold (30 at breakout case) in either H4 or D1, a sell triggered.
  • #544
  • May 25, 2018 9:58am May 25, 2018 9:58am
Quoting neilgroom
I cant understand why the EA for pullbacks. Why not just follow the rules. What if the CAD/JPY doesn't have a pullback for days. The trend could last weeks and the RSI wont go above. You're missing out. But I'll leave you to it. {image} {image}
It has 2 trigger, one pullback and another is breakout. IF no pullback and RSI2 directly go to oversold (30 at breakout case) in either H4 or D1, a sell triggered.

Open Limit Sell Order when:
{C}8) Myfxbook short position is over 70% and combined long/ short volume over 3000 (not automated in the ea as said I am an idiot in programming, need to watch by yourself and select in the ea for Long Only or Short Only, never Both)
{C}9) H4 or D1 RSI-2 HLC/3 crossed below 70 for the previous candle & candle(1) close is lower than candle (2) close & candle (1) is a bearish candle (this type of trade is an in-trend pull back trade)
{C}10) H4 or D1 RSI-2 HLC/3 crossed below 30 for the previous candle & candle(1) close is lower than candle (2) close & candle (1) is a bearish candle (this type of trade is an in-trend break out trade)....

It has 2 trigger....
  • #545
  • May 25, 2018 10:31am May 25, 2018 10:31am
Plotting % seems to work It reads for each candle value % of great indicator and plots so it's possible to see how they move
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 19 KB
  • #546
  • May 25, 2018 11:47am May 25, 2018 11:47am
Quoting jasonckb
As I am not a full time trader and don’t want to stick to the chair to monitor the market for my leisure day (trying as sometime addicted to trading), I have tried to build an ea to cater the purpose. As I am not a programmer and have very little knowledge in mql4 coding, I have used a paid service (web-based) to help build the ea. And as the choices there cannot fully match with the need, the ea can only be semi-auto. So the logic of the ea is as below: Open Limit Buy Order when: {C}1) Myfxbook short position is over 70% and combined long/ short...

Thanks Jason, will demo it now and let you know the results end of next week. Have a great weekend.
Just trying to put a kiss on the cheek of success
  • #547
  • Edited 12:12pm May 25, 2018 12:01pm | Edited 12:12pm
Fab day! Thanks again Neil!

I owe you a couple of pints!! We are quite close, Im in the north of UK... your landscape's picture sounds familiar to me.

I know I'm not following your rules at 100%, but thats not the point I think, the point is you have opened the eyes a lot of people. I really enjoy today getting bites to EURJPY, GBPUSD and even GOLD. Sad Im not full time trader... and even so, between the phone and teamviewer to look my EA I have managed to make a very good profit.

To the people who is writing me PM, please, I'm limited to 1 PM per day, so better if you send me an email to ([email protected])

Edited: I mean beer not paint haha
  • #548
  • May 25, 2018 3:37pm May 25, 2018 3:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 173 KB


just started to run the EA in demo account, also just purchased the money flow tool so we will see how it goes, have a great weekend everyone.
Just trying to put a kiss on the cheek of success
  • #549
  • May 25, 2018 4:14pm May 25, 2018 4:14pm
Quoting MrPorridge
Fab day! Thanks again Neil! I owe you a couple of pints!! We are quite close, Im in the north of UK... your landscape's picture sounds familiar to me. I know I'm not following your rules at 100%, but thats not the point I think, the point is you have opened the eyes a lot of people. I really enjoy today getting bites to EURJPY, GBPUSD and even GOLD. Sad Im not full time trader... and even so, between the phone and teamviewer to look my EA I have managed to make a very good profit. To the people who is writing me PM, please, I'm limited to 1 PM per...
A few packets of M&M's will do LOL ;-)
The most violent element in society is IGNORANCE
  • #550
  • May 25, 2018 4:55pm May 25, 2018 4:55pm
nice work!!

thanks.
  • #551
  • May 25, 2018 5:06pm May 25, 2018 5:06pm
Well all have a great long weekend... I was working on something and just needed to check the OANDA sentiment for the day for the GBP/USD.

The GBP/USD dropped over 800 points (Pips, what ever you use). A very big drop. As you can see from the chart from the beginning of the day till end off the day - Retail traders where buying it.
If we only learn one thing from this thread... FALL IN LOVE WITH RETAIL TRADERS.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: StartofdayOANDA.png Size: 60 KB
Click to Enlarge Name: EndofdayOANDA.png Size: 60 KB
Attached Image
The most violent element in society is IGNORANCE
  • #552
  • May 26, 2018 7:51am May 26, 2018 7:51am
Quoting osjoe2
{quote} Eevrything has been explained, I suggest you you read all 27 pages of the thread. And if you're completely new to trading I wouldn't focus on this just yet. Without knowing the basics like market structure, candle stick analysis, important zones, no strategy will work for you. So how did everyone do this week? I had a nice winner on GBPUSD
I am so sorry but i have learned some technical analisys like pattern trendline support and resistance price action ext...and this is new for me Thanks a lot l Will read everything
  • #553
  • May 26, 2018 9:08am May 26, 2018 9:08am
Quoting Denondj87
{quote} I am so sorry but i have learned some technical analisys like pattern trendline support and resistance price action ext...and this is new for me Thanks a lot l Will read everything
This method is perfect with Support/resistance and especially price action ;-)
The most violent element in society is IGNORANCE
  • #554
  • Edited 10:07am May 26, 2018 9:29am | Edited 10:07am
If using MT4 here is an RSI 2 HLC/3 indicator and with the tradingview template for MT4.
Just go into the level settings and change the color to white ;-) Sell if below 30 and buy above 70 if it matches the contrarian method posted by Osjoe2

Edit. Damn autocorrect. It's COLOUR not color.. Damn american spelling lmfao
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   8 KB | 680 downloads
File Type: tpl TV.tpl   1 KB | 589 downloads
The most violent element in society is IGNORANCE
  • #555
  • May 26, 2018 11:41am May 26, 2018 11:41am
Quoting neilgroom
{quote} This method is perfect with Support/resistance and especially price action ;-)
I have an indicator...min e best indicator for support e resistance...it is don forex perfect zone but it is not Free...do you know it ? Is it good for this strategy on d1 chart?
  • #556
  • May 26, 2018 11:49am May 26, 2018 11:49am
Quoting Denondj87
{quote} I have an indicator...min e best indicator for support e resistance...it is don forex perfect zone but it is not Free...do you know it ? Is it good for this strategy on d1 chart?
Yes that is Perfect for this strategy. Good luck next week but London and New York markets will be shut on Monday. Tuesday could start slow.
Best on daily and weekly timeframe.
The most violent element in society is IGNORANCE
  • #557
  • May 26, 2018 10:25pm May 26, 2018 10:25pm
Very interesting thread. I am in. Thank you so much, Neil and other members.

ScorpionFx has given the following:

SELL:
EURUSD, GBPUSD, NZDUSD
EURJPY, GBPJPY, NZDJPY
EURCHF, GBPCHF, NZDCHF

myfxbook has 5000 or more for volume and above 70% for the following:

EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook_EURUSD.jpeg Size: 80 KB


GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook_GBPUSD.jpeg Size: 82 KB


Since i just started following this thread, i am going to strictly follow the instructions on Page 1 of this thread. As Monday is holiday, i will start using this from Tuesday ...
Just to make sure i understand - as Asian session has relatively much lower liquidity, After London Opens, watch PA w.r.t S/R zones and enter

SELL on EURUSD and SELL on GBPUSD

Is my understanding right?

Appreciate your valuable guidance, Neil and other members.
  • #558
  • May 26, 2018 10:33pm May 26, 2018 10:33pm
I started doing Fundamental Analysis with my limited knowledge and came up with the following - a few hours before i came across this thread.

Attached Image (click to enlarge)
Click to Enlarge Name: FundamentalAnalysis.jpeg Size: 265 KB



It matches to some extent (other than CAD) with the forecast given by ScorpionFx

Attached Image (click to enlarge)
Click to Enlarge Name: ScorpionFx.jpeg Size: 75 KB


I cannot thank you enough - Neil and other members for continuing to help / contribute on this thread.
  • #559
  • Edited 5:18am May 27, 2018 5:05am | Edited 5:18am
Quoting neilgroom
If using MT4 here is an RSI 2 HLC/3 indicator and with the tradingview template for MT4. Just go into the level settings and change the color to white ;-) Sell if below 30 and buy above 70 if it matches the contrarian method posted by Osjoe2 Edit. Damn autocorrect. It's COLOUR not color.. Damn american spelling lmfao {file} {file}
Thanks Neil

It's actually identical to the one I posted on the old thread (post 445)! Anyway it's a very nice approach, using it as a trade confirmation. Don't see any reason why one can't use the idea on the lower time frame with confirmation from the higher time frame

If anyone is interested I have found the attached RSI (mtf I think) indi which gives the reading on multiple time frames - you can chose whatever time frame you want it to display. If one is using the 30 min for instance (see chart) one would adjust it only to display the higher time frame readings.

There is also the "hitman" indi which displays the RSI as buy/sell (top right corner on the chart - not sure if it's the mtf one though. I've attached it anyway

PS: The "all rsi" indi did not work on the new MT4 build so I had to snip some of the code to get it to compile - seems to work OK though
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDM30.png Size: 68 KB
Attached File(s)
File Type: mq4 All RSI v1.0.mq4   9 KB | 299 downloads
File Type: ex4 Hitman.ex4   57 KB | 357 downloads
  • #560
  • May 27, 2018 5:37am May 27, 2018 5:37am
Quoting neilgroom
I cant understand why the EA for pullbacks. Why not just follow the rules. What if the CAD/JPY doesn't have a pullback for days. The trend could last weeks and the RSI wont go above. You're missing out. But I'll leave you to it. {image} {image}
Hi Neil, just noticed that the LONG volume on this pair is just over 1000, though I can see that the %Long is now over 80%. How flexible are you when considering volume for this strategy?
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