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Breakout Trading - Simple Weekly System

  • #21
  • Mar 8, 2020 7:59am Mar 8, 2020 7:59am
Quoting SwingMan
{quote} Can you please leave out parasitic comments in this thread? I will always be happy if one makes helpful comments here. The clever remark that the indicator draws lines does not help anyone because everyone knows that. It helps some people who are not as talented as you and analyze everything virtually and not visually. I admit that this is a great advantage over all of us because drawing lines was fatal for Arhimedes ...
You title "Breakout Trading _simple weekly system" is a complete steal of someone else's idea. Plagiarism. All you done is develop a simple indicator.

I am not one be swayed by compliments either.
  • #22
  • Edited 8:17am Mar 8, 2020 8:01am | Edited 8:17am
Quoting SwingMan
{quote} Here https://www.forexfactory.com/showthr...0#post12303250 and here https://www.forexfactory.com/showthr...72#post7988772 {file}
are the calculations based off of pip or % movement at that time of day? What is the dotted line value? Do you have a similar indicator that does the same for Days of the Week for the Month? Sorry for all the questions.
  • #23
  • Mar 8, 2020 8:23am Mar 8, 2020 8:23am
Quoting Spikehunter
{quote} You title "Breakout Trading _simple weekly system" is a complete steal of someone else's idea. Plagiarism. All you done is develop a simple indicator. I am not one be swayed by compliments either.
I did not want to get involved but felt compelled to do so. You have been around since 2006 and should know better. Swingman has not created this indicator for his sole use. He is a hobby trader and does so for followers of other threads, where ideas come about. A helpful and gentle soul. Stop being such a pea brain.

Cheers.
Trade to trade another day
  • #24
  • Mar 8, 2020 9:16am Mar 8, 2020 9:16am
Quoting Spikehunter
{quote} You title "Breakout Trading _simple weekly system" is a complete steal of someone else's idea. Plagiarism. All you done is develop a simple indicator. I am not one be swayed by compliments either.
In life this kind of thing is what that prove our maturity, at times people may say they don't want to follow you, you must be able not to allow that not to affect your productivity in anything that ties you together with such of people, still it is require of you to still be positive towards them. Let all have a safe landing in this thread. God bless us all.
  • #25
  • Mar 8, 2020 9:41am Mar 8, 2020 9:41am
Quoting Wavegarrick
{quote} I did not want to get involved but felt compelled to do so. You have been around since 2006 and should know better. Swingman has not created this indicator for his sole use. He is a hobby trader and does so for followers of other threads, where ideas come about. A helpful and gentle soul. Stop being such a pea brain. Cheers.
If you didn't want get involved then why did you do so.
Please refrain from childish name calling.
Over & out
  • #26
  • Mar 8, 2020 9:51am Mar 8, 2020 9:51am
Quoting Spikehunter
{quote} If you didn't want get involved then why did you do so. Please refrain from childish name calling. Over & out
Done! capiche! nothing further to say to you.
Cheers.
Trade to trade another day
  • #27
  • Edited 10:37am Mar 8, 2020 10:17am | Edited 10:37am
Quoting Spikehunter
{quote} You title "Breakout Trading _simple weekly system" is a complete steal of someone else's idea. Plagiarism. All you done is develop a simple indicator. I am not one be swayed by compliments either.
I don't think the creator of this thread meant any harm. I could be wrong, but I think the reason why he started a new thread was to make it easier for people in the other thread to focus on the strategy and its results, and not be distracted by posts dealing with indicators.

People who want to use indicators for the strategy can now come here to talk about indicators and ways to make them work more effectively with the strategy.

By the way, it's not plagiarism. He made no claims to being the originator of the idea. In fact, he cited the source here.
Learn from your mistakes and march on.
  • #28
  • Mar 8, 2020 10:40am Mar 8, 2020 10:40am
Quoting SwingMan
{quote} Thank you for your question! - I don't program scripts - For an EA there are already some experienced programmers (@Spikehunter e.g.) who are working on it. My problem is that I don't have a license for EAs to send orders in Metatrader, or to set SLs and TPs.
EA would certainly not be a problem for you. I wanted to use a separate thread for another way of entering pending commands. "Enter and forget" I wanted to use both TP1 and TP2.
Please excuse the bad English via Google Translate.
  • #29
  • Mar 8, 2020 10:48am Mar 8, 2020 10:48am
Quoting oluwagbenga
{quote} In life this kind of thing is what that prove our maturity, at times people may say they don't want to follow you, you must be able not to allow that not to affect your productivity in anything that ties you together with such of people, still it is require of you to still be positive towards them. Let all have a safe landing in this thread. God bless us all.
You are right. Thank you
  • #30
  • Mar 8, 2020 10:50am Mar 8, 2020 10:50am
Quoting SwingMan
{quote} Thank you for your question! - I don't program scripts - For an EA there are already some experienced programmers (@Spikehunter e.g.) who are working on it. My problem is that I don't have a license for EAs to send orders in Metatrader, or to set SLs and TPs.
Can you explain "no licence" didn't know anything about that.
  • #31
  • Mar 8, 2020 11:08am Mar 8, 2020 11:08am
Would it be possible to add a second stop loss line and make both adjustable? I guess the 50% rule works for some, but having an adjustable level for long positions and one for short positions would be great. If you don't have the time or you're not interested, thanks for what you've posted.
  • #32
  • Mar 8, 2020 12:00pm Mar 8, 2020 12:00pm
Quoting swamper
Would it be possible to add a second stop loss line and make both adjustable? I guess the 50% rule works for some, but having an adjustable level for long positions and one for short positions would be great. If you don't have the time or you're not interested, thanks for what you've posted.
One can still make a lot of changes, but I want to use the original idea as much as possible.
(Maybe it helps that the edge of the areas is halfway between the SL and the box range.)

The MT system reminds a lot of the ACD system (Mark Fisher), and one finds some threads about it in forum.
However, ACD is not suitable for the MT system because the period of one week is too short.

If the "2D1-Weekly" indicator remains satisfactory, I planned to program a "2D1-Monthly" indicator for the last "Simple Monthly System" from @ 4ecstasy.
In this case, it would even be advisable to test the ACD rules.

If one uses the logic of the labels, one could program similar indicators (systems) for "2H4-Daily" and "2H1-Daily".
Intraday, the "Happy Hours" indicator would be recommendable for the development of a logical trading system ....
  • #33
  • Mar 8, 2020 12:15pm Mar 8, 2020 12:15pm
Quoting SwingMan
{quote} One can still make a lot of changes, but I want to use the original idea as much as possible. (Maybe it helps that the edge of the areas is halfway between the SL and the box range.) The MT system reminds a lot of the ACD system (Mark Fisher), and one finds some threads about it in forum. However, ACD is not suitable for the MT system because the period of one week is too short. If the "2D1-Weekly" indicator remains satisfactory, I planned to program a "2D1-Monthly" indicator for the last "Simple Monthly System" from @ 4ecstasy. In this...
I have Fishers book, pity the important bits are left out
  • #34
  • Mar 8, 2020 1:20pm Mar 8, 2020 1:20pm
Quoting Spikehunter
{quote} I have Fishers book, pity the important bits are left out
No problem...

- Some good informations from Steve Hopwood are here: "The Logical Trader" - Thread to develop manual trading using insights from this book
https://www.forexfactory.com/showthread.php?t=285053

The book can you download from mediafire.
  • #35
  • Mar 8, 2020 1:34pm Mar 8, 2020 1:34pm
@ Swingman,

Thanks for your contribution, I’m sure it will help many.

Only a question about the TP lines, why are they called 50% and 100% ?

And what are the calculations based on or from?

For example, Entry 71.82 - Stop Loss 70.46 = 1.36 (136 pips)

Add 1.36 to Entry = 73.18 for the 1 to 1 TP, you show 72.55 for 50% ?

Add 1.36 again = 74.54 for the 2 to 1 TP, you show 73.60 for 100% ?

As shown by Mr Fibonacci , but definitely not Fibonacci levels

Thanks,

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-09 at 6.23.20 am.png Size: 186 KB
It takes a lot for me to IGNORE you, but you can try.
  • #36
  • Mar 8, 2020 2:20pm Mar 8, 2020 2:20pm
Quoting Erebus
As shown by Mr Fibonacci , but definitely not Fibonacci levels
Thanks for the remark, it is always possible that I do not understand what I am doing ...

Here are the indicator values and Mr. Fibonaccis levels:
Attached Image


My calculation:
Range = BoxHigh - BoxLow = 71.508 - 69.421 = 2.087

TP2 = BoxHigh + Range = 71.508 + 2.087 =73.595

------------------------------------------------------------------------
An other calculation from Entry Level:
TP2 = Buy Level + Range = 71.821+2.087 = 73.908
Attached Image
  • #37
  • Mar 8, 2020 4:56pm Mar 8, 2020 4:56pm
Quoting SwingMan
{quote} One can still make a lot of changes, but I want to use the original idea as much as possible. (Maybe it helps that the edge of the areas is halfway between the SL and the box range.) The MT system reminds a lot of the ACD system (Mark Fisher), and one finds some threads about it in forum. However, ACD is not suitable for the MT system because the period of one week is too short. If the "2D1-Weekly" indicator remains satisfactory, I planned to program a "2D1-Monthly" indicator for the last "Simple Monthly System" from @ 4ecstasy. In this...
I didn't know the ACD system, I'm researching it now, do you use it?
  • #38
  • Mar 8, 2020 5:07pm Mar 8, 2020 5:07pm
Quoting SwingMan
{quote} Thanks for the remark, it is always possible that I do not understand what I am doing ... Here are the indicator values and Mr. Fibonaccis levels: My calculation: Range = BoxHigh - BoxLow = 71.508 - 69.421 = 2.087 TP2 = BoxHigh + Range = 71.508 + 2.087 =73.595 ------------------------------------------------------------------------ An other calculation from Entry Level: TP2 = Buy Level + Range = 71.821+2.087 = 73.908
Trade, position size and risk management, need to be calculated from Entry to Stop Loss and on to Take Profit

High and Low doesn’t really come into it except to define the limits of Monday and Tuesday

I could be wrong and all on my own here?

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #39
  • Mar 8, 2020 5:58pm Mar 8, 2020 5:58pm
Settings need to be 180 and 245 , where your latest chart has 165 and 215

Anyone good at maths?



Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-09 at 10.55.36 am.png Size: 82 KB
It takes a lot for me to IGNORE you, but you can try.
  • #40
  • Mar 8, 2020 8:03pm Mar 8, 2020 8:03pm
Quoting Erebus
Settings need to be 180 and 245 , where your latest chart has 165 and 215 Anyone good at maths? {image}
correct me if im wrong but your last settings had 165 and 215 ? why it changed? Thank you
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