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Simple Daily Trend Reversal Trading System

  • #4,181
  • Jul 2, 2018 5:06am Jul 2, 2018 5:06am
Quoting fx280
Hello MRDFX, I am testing the manual trading on a demo account but in live market on a short term chart. I notice zigzag arrows keep moving to next swing low. Lets say if I get a valid buy signal as per rules and put my SL below swing low (where the arrow is) and if zig zag arrow keeps moving then my stop loss will hit. Any suggestion what to do in that case? I wonder if this happens on H4 or daily then what should I do? My apology if this is answered already but I was not able to find the answer and so far I finished reading first 40 pages. Thank...
The ZigZag arrows are an indicator that repaints, which means they will change/update their location to the next low or high if it were to happen. So it's not really a valid indicator for forward trading, it just shows you which were the past lows and highs.
  • #4,182
  • Jul 2, 2018 7:05am Jul 2, 2018 7:05am
Quoting fx280
Hello MRDFX, I am testing the manual trading on a demo account but in live market on a short term chart. I notice zigzag arrows keep moving to next swing low. Lets say if I get a valid buy signal as per rules and put my SL below swing low (where the arrow is) and if zig zag arrow keeps moving then my stop loss will hit. Any suggestion what to do in that case? I wonder if this happens on H4 or daily then what should I do? My apology if this is answered already but I was not able to find the answer and so far I finished reading first 40 pages. Thank...
This question has been discussed many times already in the thread, so I'm not going to repeat anything.

I suggest you go back to page 1 and read again, as this Q has been answered many times.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,183
  • Jul 7, 2018 11:38am Jul 7, 2018 11:38am
Try changing the value of the length parameter of the MBFX Timing indicator to 42 in H4, with the default value of 7, it will be possible for many false signals.
M15 LEN 28
H1 LEN 28
H4 LEN 42
D1 LEN 49
I believe this can help make the system more reliable.
After changing the configuration, consider also as a reliable signal to buy green line above level 50, and for sell orange line below level 50.
The price will be in consolidation in the following conditions, orange line above 50 and green line below 50, in these last 2 situations, not to be considered as a valid signal for trade.
  • #4,184
  • Jul 7, 2018 11:55am Jul 7, 2018 11:55am
Attached Image (click to enlarge)
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  • #4,185
  • Jul 7, 2018 4:06pm Jul 7, 2018 4:06pm
Dear mrdfx,

Thank you very much SDTR EA. This is very good. I use H4 charts.
I LIKE more filter in EA:
1., Use Williams' Percent Range (14) filter? true/false
If true: WPR under - 50 = SHORT; WPR above -50 = LONG
2., Use Signal Bars filter? true/false
If true: H4 - MACD, STR, EMA 3 Lime = LONG; H4 - MACD, STR, EMA 3 Red = SHORT
The Trendsignal version 2 indicator very fantastic agree SDTR Signal but Stop small and good will trade close.
3., Use Trendsignal filter? true/false
If true: StopLoss is Trendsignal (no virtual)
Risk: amount percent %
TakeProfit is Next Trendsignal line
Breakeven: move to open trade will 1% profit
I hope You upgrade the fantastic EA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 36 KB
Click to Enlarge Name: Image3.png Size: 63 KB
Attached File(s)
File Type: mq4 Signal_Bars_v3_Daily.mq4   41 KB | 794 downloads
File Type: mq4 Trendsignal version 2 indicator.mq4   5 KB | 841 downloads
  • #4,186
  • Jul 8, 2018 2:46am Jul 8, 2018 2:46am
Good day I manage to install the zig zag arrow, support and resistance,mbfx timing and trend line indicators,but cannot install the simple reveral EA,What am I doing wrong??
  • #4,187
  • Jul 8, 2018 4:19am Jul 8, 2018 4:19am
Quoting billbss
I can't get any of the indicators or templates to work. Anyone else having that problem?
It also don't want to work by me
  • #4,188
  • Jul 8, 2018 4:39am Jul 8, 2018 4:39am
Quoting traderefx
Try changing the value of the length parameter of the MBFX Timing indicator to 42 in H4, with the default value of 7, it will be possible for many false signals. M15 LEN 28 H1 LEN 28 H4 LEN 42 D1 LEN 49 I believe this can help make the system more reliable. After changing the configuration, consider also as a reliable signal to buy green line above level 50, and for sell orange line below level 50. The price will be in consolidation in the following conditions, orange line above 50 and green line below 50, in these last 2 situations, not to be considered...
M15, M30, H1 - same LEN 28 value?
Thank you.
  • #4,189
  • Jul 8, 2018 12:17pm Jul 8, 2018 12:17pm
Quoting MidnightRun
{quote} M15, M30, H1 - same LEN 28 value? Thank you.
yes.
  • #4,190
  • Edited 9:00am Jul 13, 2018 7:59am | Edited 9:00am
Hi,

Great strategy!
I've using ebeckers SupportResistance indicator for sometime and it is very good. Too bad it didn't had alerts.

I've downloaded hi's Candlelight indi. I was wondering if that can be used as a filter. As in, only have S/R and candlelight to generate a signal.

There is a problem with alerts.
The alerts on screen and those on mobile are different. For example i got an alert to buy eurgbp on screen but not on mobile.
Is there anyway to only get alerts on mobile, sendnotification?

Your strategy is awesome and can also be used succesful on M5, trading between H1, H4, D1 S/R lines.
Attached Image (click to enlarge)
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  • #4,191
  • Edited 11:26am Jul 13, 2018 11:04am | Edited 11:26am
My bad!
I enabled UseSupportResistanceFilter = true, MaxPipsfromSR=2, MA filter =2 (almost disabled) and now only gives alert when near the SR line. Let's see how it works.

The beauty of such way of trading is the minimal loss that one can have, trading very close to SR line. Even if one is wrong, a trade can be continued in the direction the SL was hit.

A good and optional filter is a MACD div. I use a x2 MACD.
Now everything is perfect! Thank you!

Is there anyway to disable screen alert and only get Push Notif?


The reason for these late entries are :

  1. I'm on demo
  2. Just installed this strategy and the fastest way to prove is 5min chart

Attached Image (click to enlarge)
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  • #4,192
  • Jul 16, 2018 11:22am Jul 16, 2018 11:22am
Quoting ebeckers
{quote} Sure here it is.. and if you are into coding.. its also on GitHub https://github.com/erwin-beckers/SupportResistance {file}
E-beckers, Good afternoon! Congratulations on the excellent indicator, I am sure that this indicator is in the class of the best indicators of support and resistance in the forex factory!
  • #4,193
  • Jul 18, 2018 4:46pm Jul 18, 2018 4:46pm
1st of all congrats on the views, you all guys are amazing and this indicator is a master piece, a true gem.I am forever grateful for you guys and this amazing indicator,thanks again and i wish you guys continued success and millions of millions of pips!!!!!
  • #4,194
  • Jul 21, 2018 5:05am Jul 21, 2018 5:05am
Thank you mrdfx, ebeckers and all for this EA and contribution !

I would appreciate if anyone could put a light on this question ?


Question is about Order management (trailing stop) in auto mode having this EA in manual mode ?

mrdfx already answered in one thread that it is possible to trade manually.

I've set the EA magic number to 0 but when opening a trade manually, it does not manage the open position as per EA's trailing stop mechanism.

What needs to be done so that the EA takes manually opened orders by using trailing stop mechanism?

I'd like to use EA proposed suggestion and open order manually and in some cases even scale in or even add some other trades by letting this EA to automatically use trailing stop.

Forgive me in case this question has already been answered but I have already gone through all pages back and forth but couldn't find an answer.

Thank you!
  • #4,195
  • Jul 21, 2018 5:44am Jul 21, 2018 5:44am
I've been thinking at the same thing. When opening a trade to put the SL a little above or below the SR line and then moving the take profit and stop loss along with the price starting from breakeven further into profit.
Let's say you make a sell near a resistance and price breaks a lower support continuing down. The EA moves initial stop loss to that support line that became resistance and take profit to the next support line. I've been using supportresistance indi and EA with only H4 and D1 lines on a 15M timeframe using RSI divergence to confirm a bounce from SR lines and also stochastic that resspects some high and low levels and making divergences
  • #4,196
  • Jul 24, 2018 10:38am Jul 24, 2018 10:38am
Quoting mitzescu
Hi, Great strategy! I've using ebeckers SupportResistance indicator for sometime and it is very good. Too bad it didn't had alerts. I've downloaded hi's Candlelight indi. I was wondering if that can be used as a filter. As in, only have S/R and candlelight to generate a signal. There is a problem with alerts. The alerts on screen and those on mobile are different. For example i got an alert to buy eurgbp on screen but not on mobile. Is there anyway to only get alerts on mobile, sendnotification? Your strategy is awesome and can also be used succesful...
Good day,please,sorry if iam drawing you back, I am new here ,how can I download this indicators/template in this image.
Thanks.
  • #4,197
  • Jul 27, 2018 4:51am Jul 27, 2018 4:51am
Quoting peddy
{quote} Good day,please,sorry if iam drawing you back, I am new here ,how can I download this indicators/template in this image. Thanks.
Hi! Sorry for the late reply. I did not recieve notice of someone posting here. You can find the Trend Reversea EA v1.25 on the first post. It will auto create the template of your chart.

Back on the topic.
So i've been playing around with ebeckers SR indicator while on other charts i had the EA running. This is what i found out.

I've read some people use 1000 history and others 3000. This creates different SR lines. On the 1000 history, lines are more likely to disappear and i think (not sure) that they repaint, especially H1 and H4 SR lines, while with 3000 history lines are more stable but they are not so often and may not recieve alert of a pullback or trend reversal. So trading below M30 chart using H1, H4 lines is not a good idea.'

Then i tried only D1 and W1 SR lines put to maximum details. With 1000 history there are too many lines. It's hard to tell where price will stop or if price will break or reverse from there even using RSI divergence, stoch SR method and MACD divergence.
With 3000 history there are fewer lines, so a cleaner chart, but price sometimes reverse with no SR line there.

Another thing. 1000 history and 3000 SR lines are not in the same place so it's hard to choose wich SR is good and which one to ignore.


What i did :

  1. i opened 2 charts. 1st i set the EA with 1000 history, show D1 & W1 SR lines, details to max and second with 3000 history same settings. These charts are on a sepparate computer that is always on so that EA runs 24/5.
  2. Then on my laptop that i carry with me i've opened another 2 charts. Only put the SR indi, some oscilator and later i found this indi that draws some fibo lines. See the screenshots (left is with 1000 and right 3000 history). I've manually drawn those purple lines a little above and below the lines so u can see the price framed and see the difference. On the left u can see a D1 Resistance coinciding with a 61 fibo (H4 timeframe) and on the right the resistance is a bit below the 61 fibo. Down there is another 61 fibo (the indi draws 2 fibos, one up, one down) and the W1 support is on both sides.

So what i say is this. It would be great if ebckers or someone else can code the SR indi in such a manner that it calculates both 1000 and 3000 history and add fibo lines to it and only show the place 2 SR lines coincide or one SR line + a FIBO line. Of course fibos are relative to how they are drawn and timeframe. U can see on the screenshot with H1 on the left that D1 resistance, coincide with 100 fibo. This is actual a good thing as it creates a fibo confluence, or a cluster as some people call it.
So adding a mix of these history lines and a fibo cluster would make a SR line more in to take into consideration. So having up there a D1 resistance + M30 100 fibo + H4 61 fibo + H1 76.8 fibo, this is what i call a great resistance.

Attached Image(s) (click to enlarge)
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  • #4,198
  • Jul 27, 2018 5:26am Jul 27, 2018 5:26am
So right now i recieved a GBPJPY buy alert from the EA. I need to put it alert more closely to the SR line. I've checked from M30 to D1 to see what fibos are there on the left chart. Right chart is put to 3k history and has no D1 support line there. I would have trusted more if i had some support on D1 chart, but i have some bullish divercenges and being on demo let's see what happens. Will price bounce up or not?
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  • #4,199
  • Jul 31, 2018 3:28pm Jul 31, 2018 3:28pm
The EA on mt4 platform on my vps server doesn't refresh itself, when I load on 4hr chart it scans the symbols for buy sell signal but even if a signal appears the EA doesn't open position (Automated trading is on) and doesn't refresh but it just freezes.
  • #4,200
  • Jul 31, 2018 4:01pm Jul 31, 2018 4:01pm
Quoting Rainy88
The EA on mt4 platform on my vps server doesn't refresh itself, when I load on 4hr chart it scans the symbols for buy sell signal but even if a signal appears the EA doesn't open position (Automated trading is on) and doesn't refresh but it just freezes.
Do you have Allow DLL imports checked?

Did you check first post?

https://www.forexfactory.com/showthr...5#post10764025
Truth is like poetry. And most people f*cking hate poetry.
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