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Simple Monday-Tuesday System (attached calculator)

  • #81
  • Jan 30, 2020 3:51am Jan 30, 2020 3:51am
Could we use the Fibo tool this way?
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Attached Image (click to enlarge)
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Anything above the line is an uptrend, below the line is a downtrend.
  • #82
  • Jan 30, 2020 4:39am Jan 30, 2020 4:39am
GbpNzd hit target while I was getting my beauty sleep.

Both EurNzd & GbpAud took entry, and both are currently in profit.

Currently I chase price once at a certain level. Not the thread rules, but my preference.
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Click to Enlarge Name: GA Wk 5.png Size: 44 KB
Click to Enlarge Name: GN Wk 5.png Size: 56 KB
  • #83
  • Jan 30, 2020 4:55am Jan 30, 2020 4:55am
GbpAud hit target. I love technical analysis. But in this case UK rate change vote was unanimous. I'll take it, thank you.
Attached Image (click to enlarge)
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  • #84
  • Jan 30, 2020 7:40am Jan 30, 2020 7:40am
i cannot find the calculator, can you help with the link to download.

thanks Ram
  • #85
  • Jan 30, 2020 8:53am Jan 30, 2020 8:53am
Quoting rrapolu
i cannot find the calculator, can you help with the link to download. thanks Ram
+++++++++++++++++++++++

Go to post 81 and set up you fibonacci indicator like shown.
  • #86
  • Jan 30, 2020 8:58am Jan 30, 2020 8:58am
Quoting rrapolu
i cannot find the calculator, can you help with the link to download. thanks Ram
Are you looking for this? It's in the first post, under the chart snapshot.
https://www.forexfactory.com/attachm...2&d=1579883284
  • #87
  • Jan 30, 2020 9:00am Jan 30, 2020 9:00am
Quoting diamonddbw
GbpAud hit target. I love technical analysis. But in this case UK rate change vote was unanimous. I'll take it, thank you. {image}
Nice screen please can you share your template?
  • #88
  • Jan 30, 2020 9:15am Jan 30, 2020 9:15am
Quoting Sangui
Nice testing guys. Degolep, if you want to use it for XAUUSD you will need to replace the 5s for 2s in the NormalizeDouble funtion calls: double buyPrice = NormalizeDouble(high + range * entryRangePercentage / 100, 2); double sellPrice = NormalizeDouble(low - range * entryRangePercentage / 100, 2); double buyTP = NormalizeDouble((buyPrice-high)+high + range * takeProfitPercentage / 100, 2); double sellTP = NormalizeDouble(low - range * takeProfitPercentage / 100-(low-sellPrice), 2); double buySL = NormalizeDouble(low - range * stopLossPercentage...
Todays Sell stop on GBPAUD, GBPNZD is not correct? Buy stop is ok but Sell stop is wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-01-30 18_17_25-20232601_ ICMarkets-Demo02 - Demo Account - GBPAUDH4 visual.png Size: 41 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-01-30 18_21_23-20232601_ ICMarkets-Demo02 - Demo Account - GBPNZDH4 visual.png Size: 46 KB
Ignore the SL I have my own idea about SL.
Anything above the line is an uptrend, below the line is a downtrend.
  • #89
  • Jan 30, 2020 9:16am Jan 30, 2020 9:16am
Quoting Slingshots1
{quote} Nice screen please can you share your template?
++++++++++++++++++++++

Nothing special. I just gotta set it up so I can see good contrast.
Attached File(s)
File Type: tpl _1_Monday Tues.tpl   17 KB | 699 downloads
  • #90
  • Jan 30, 2020 9:18am Jan 30, 2020 9:18am
I'm convinced that we need to take into account the recent trend. If it's too strong, it could go against us.
If the range of the last week or so is significantly greater than the ATR 14 period, I wouldn't open it. But this needs testing!
More of a formula: For long, if Bar 1 is greater than bar ...say ... bar 8 by 1.5 times ATR 14, then the trend is overextended and shouldn't be considered.

I opened GBP crosses
AUD and NZD TP'd at 94 pips and 85 pips respectively.
CAD is still open.
Others haven't opened yet.
I hope everyone got in!
  • #91
  • Jan 30, 2020 9:32am Jan 30, 2020 9:32am
Quoting 4ecstasy
I'm convinced that we need to take into account the recent trend. If it's too strong, it could go against us. If the range of the last week or so is significantly greater than the ATR 14 period, I wouldn't open it. But this needs testing! More of a formula: For long, if Bar 1 is greater than bar ...say ... bar 8 by 1.5 times ATR 14, then the trend is overextended and shouldn't be considered. I opened GBP crosses AUD and NZD TP'd at 94 pips and 85 pips respectively. CAD is still open. Others haven't opened yet. I hope everyone got in!
++++++++++++++++++++++

My testing rule is if Monday/Tuesday range exceeds two times the ADR, I will likely skip that weeks trade.

I did get those, although I traded very small (>1% risk). Also traded EurNzd (0.3% Risk), but got out early due to strong resistance in vicinity of 1.7000.

Early testing in EurNzd is sketchy, so may no longer use that pair. Also skeptical of GCad & GChf & GJpy, due to inconsistant movements. Will post more results later.
  • #92
  • Jan 30, 2020 10:28am Jan 30, 2020 10:28am
Quoting 4ecstasy
I'm convinced that we need to take into account the recent trend. If it's too strong, it could go against us. If the range of the last week or so is significantly greater than the ATR 14 period, I wouldn't open it. But this needs testing! More of a formula: For long, if Bar 1 is greater than bar ...say ... bar 8 by 1.5 times ATR 14, then the trend is overextended and shouldn't be considered. I opened GBP crosses AUD and NZD TP'd at 94 pips and 85 pips respectively. CAD is still open. Others haven't opened yet. I hope everyone got in!
What about GBPJPY?
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-01-30 19_28_24-20232601_ ICMarkets-Demo02 - Demo Account - GBPJPYM30.png Size: 72 KB
Anything above the line is an uptrend, below the line is a downtrend.
  • #93
  • Edited 2:02pm Jan 30, 2020 10:47am | Edited 2:02pm
This are results for using 0.25 and 0.75 on of the fibo for SL, so that makes it around 1:0.9 risk:reward trade.

January 2020
GBPAUD 3W 0L
GBPCAD 2W 0L (1 trade still running)
GBPCHF 1W 0L
GBPJPY 2W 1L
GBPNZD 2W 1L
GBPUSD 2W 0L 1BE(breakeven)

Total 12W 2L

December 2019
GBPAUD 3W 0L
GBPCAD 1W 2L 1BE
GBPCHF 2W 0L 1BE
GBPJPY 4W 0L 1BE
GBPNZD 2W 2L
GBPUSD 2W 1L 1BE

Total 14W 5L

November 2019
GBPAUD 1W 1L
GBPCAD 1W 3L 1BE
GBPCHF 2W 0L
GBPJPY 1W 2L
GBPNZD 0W 2L
GBPUSD 2W 1L

Total 7W 9L

October 2019

GBPAUD 1W 1L
GBPCAD 5W 0L
GBPCHF 1W 1L
GBPJPY 2W 2L
GBPNZD 3W 1L
GBPUSD 5W 0L

Total 17W 5L

September 2019
GBPAUD 3W 0L
GBPCAD 2W 2L
GBPCHF 3W 1L
GBPJPY 3W 1L
GBPNZD 3W 0L
GBPUSD 3W 1L

Total 17W 5L

August 2019
GBPAUD 2W 0L
GBPCAD 3W 0L
GBPCHF 2W 0L 1BE
GBPJPY 1W 0L
GBPNZD 2W 2L
GBPUSD 1W 2L

Total 11W 4L

Grand total for 6 months, manual backtesting.
78W 30L
Anything above the line is an uptrend, below the line is a downtrend.
  • #94
  • Edited 11:32am Jan 30, 2020 11:20am | Edited 11:32am
Quoting Erebus
Anyone take the GBPNZD? {image}
YES! It was awesome!! This was my 1st attempt following the strategy. THANKS, OP.
  • #95
  • Jan 30, 2020 11:22am Jan 30, 2020 11:22am
Sangui... instead of using a static number for your NormalizeDouble()-- try using "Digits".. This way it will adapt to whatever currency your using..
  • #96
  • Jan 30, 2020 11:33am Jan 30, 2020 11:33am
Quoting Degolep
This are results for using 0.25 and 0.75 on of the fibo for SL, so that makes it around 1:0.9 risk:reward trade. Will update for a few months back. January 2020 GBPAUD 3W 0L GBPCAD 2W 0L (1 trade still running) GBPCHF 1W 0L GBPJPY 2W 1L GBPNZD 2W 1L GBPUSD 2W 0L 1BE(breakeven) Total 12W 2L December 2019 GBPAUD 3W 0L GBPCAD 1W 2L 1BE GBPCHF 2W 0L 1BE GBPJPY 4W 0L 1BE GBPNZD 2W 2L GBPUSD 2W 1L 1BE Total 14W 5L
++++++++++++++++++++++++++++

You used both .25 & .75? Would you put up a chart to clarify please?
  • #97
  • Jan 30, 2020 11:44am Jan 30, 2020 11:44am
While we're throwing around the statistics, how about 90% for getting the direction correct?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200131-054051_MetaTrader 4.jpg Size: 240 KB
It takes a lot for me to IGNORE you, but you can try.
  • #98
  • Jan 30, 2020 1:11pm Jan 30, 2020 1:11pm
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++ You used both .25 & .75? Would you put up a chart to clarify please?
This are my fibo settings. So on one fibo drawing I have TP, SL for buy and sell.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-01-30 22_09_50-20232601_ ICMarkets-Demo02 - Demo Account - GBPAUDH1.png Size: 79 KB

And my settings for DailyLineBoxes if anyone is interested.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-01-30 22_13_50-Custom Indicator - Daily LinesBoxes1.png Size: 28 KB
Anything above the line is an uptrend, below the line is a downtrend.
  • #99
  • Jan 30, 2020 1:20pm Jan 30, 2020 1:20pm
Quoting Degolep
{quote} And my settings for DailyLineBoxes if anyone is interested.{image}
Why not use just 1 instance of Daily Line Boxes to cover the Monday / Tuesday range?

And extend the lines until the end of the week.
It takes a lot for me to IGNORE you, but you can try.
  • #100
  • Jan 30, 2020 1:21pm Jan 30, 2020 1:21pm
Thanks mtbb, I'm learning everyday.

Thanks Degolep, yes the bug won't reproduce in backtesting but it will on forward on Thu and Fri since I introduced the change for those days.

Here is the fix, please test it.
Attached File(s)
File Type: mq4 MoTu_System_v1.3.1.mq4   7 KB | 835 downloads
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