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Attachments: Breakout Trading - Simple Weekly System
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Breakout Trading - Simple Weekly System

Quoting Akaykenann
{quote} correct me if im wrong but your last settings had 165 and 215 ? why it changed? Thank you
where did you see that?

trading is evolving, conditions change, ideas change

it’s a never ending battle to balance stop loss to take profit

find that elusive setting that allows maximum reward with minimum risk

The two most powerful warriors are patience and time. Leo Tolstoy
Quoting Erebus
{quote} where did you see that? trading is evolving, conditions change, ideas change it’s a never ending battle to balance stop loss to take profit find that elusive setting that allows maximum reward with minimum risk
no definitely agree with you dont get me wrong. I went through your thread and saw youve posted your mobile settings and seen that you had 165 215. asking/trying to keep it up and get benefits of your settings if you dont mind. is this works on stocks also? (amazon apple etc.) THANKS
Quoting Spikehunter
{quote} It's already in the process of being built if you look st the original thread and not this parasitic offshoot.
Hi,
You know how to use a lexicon. Now go and buy a book about rules of good behaviour.
Swingman is an absolute professional. He certainly published the indicator in his own thread only because he didn't want to disturb the original.
Best wishes
Quoting Erebus
{quote} 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
Hi @Erebus,
now i understand how you interpret the rules!

For the original rules wrote @4ecstasy:
Quote
Find the highest high and lowest low of Monday and Tuesday.
Entry is set to 15% of the highest high.
SL is set to 10% on the other side of the low for long; high for short.
TP is set to 50% of the range.
You applied the R:R rule TP:SL = 1:1 quite correctly, and so you come to 1.80 and 2.45

I think that originally @4ecstasy wrote that SL=50% Range from Box High.

The current SL=10% Range from Box Low is also OK and corresponds to the ACD system.
But I would symmetrically take a 10% Range for Entry and also for SL.
Then one could take a 15% Range for the C-level and do a reverse trade.

If one is interested, one can make with your Fibo-Levels a separate indicator for a variant of the ACD system.
But as I wrote, this would apply to 2D1-Monthly (2/22), or 2H4-Weekly (2/30), or 2H1-Daily (2/24)
Attached Image
  • Post #45
  • Quote
  • Edited at 6:08am Mar 9, 2020 5:43am | Edited at 6:08am
New Version "smBreakout-2D1-Weekly v1.1"

- The indicator now also works for Gold/Oil etc., when the trading day does not start at 00:00.

- For the Fibo-Levels I took the R:R = 1:1 values from @Erebus because the author didn't complain ...
Attached Image (click to enlarge)
Click to Enlarge Name: Gold-XAUUSDH4.png Size: 61 KB
Attached File
File Type: ex4 smBreakout-2D1-Weekly v1.1.ex4   24 KB | 339 downloads
Quoting SwingMan
New Version "smBreakout-2D1-Weekly v1.1" - The indicator now also works for Gold/Oil etc. if the trading day does not start at 00:00. - For the Fibo-Levels I took the R:R = 1:1 values from @Erebus because the author didn't complain ... {image} {file}
That looks much better

Now if the lines can be extended to end of each day

And do we really need the red and green boxes?

Comments welcome
The two most powerful warriors are patience and time. Leo Tolstoy
Quoting Erebus
... Now if the lines can be extended to end of each day
... And do we really need the red and green boxes? Comments welcome
- Line extensions OK, but maybe only for the current day.

- Surely one needs the colorful areas, that makes life more beautiful ...
If one analyzes the fibos, you can see without thinking (that's important...) the box trend between low and high, and use it as a trading filter .

- The edge of the areas within the range can be used as an alert for price going in the direction of the stop loss.
Quoting SwingMan
{quote} - Line extensions OK, but maybe only for the current day. - Surely one needs the colorful areas, that makes life more beautiful ... If one analyzes the fibos, you can see without thinking (that's important...) the box trend between low and high, and use it as a trading filter . - The edge of the areas within the range can be used as an alert for price going in the direction of the stop loss.
Oops, my mistake, what are we thinking, levels have to extend until end of Friday, end of week

The range or box as you call it, is Monday and Tuesday,

Thanks
The two most powerful warriors are patience and time. Leo Tolstoy
Quoting SwingMan
{quote} - Line extensions OK, but maybe only for the current day. - Surely one needs the colorful areas, that makes life more beautiful ... If one analyzes the fibos, you can see without thinking (that's important...) the box trend between low and high, and use it as a trading filter . - The edge of the areas within the range can be used as an alert for price going in the direction of the stop loss.
"you can see without thinking (that's important ...)"
Who would say a person who uses bar candles would say that. LOL
Caution, patience and balance.
Quoting SwingMan
New Indicator: smBreakout-2D1-Weekly v1.0 {image} {file}
My friend, I have been following you since 2008.
I like indicator idea but it is not working .
I can copy in the Indicator folder. But unable to see it.
May be not complied properly. It is an exe file .
mql file would have worked.
Anyway, you please compile it properly if you want to give exe file.
Thank you.
Learning to Do to Earn
Quoting simnz
... My friend, I have been following you since 2008. I like indicator idea but it is not working . I can copy in the Indicator folder. But unable to see it. May be not complied properly. It is an exe file . mql file would have worked. Anyway, you please compile it properly if you want to give exe file. Thank you.
The .exe files must work with the latest version of Metatrader, there are many other users who have no problem.
I can post source code later, but now there are still some problems to be solved, but I can send you the latest version privately.
No issue for me : it's working fine
Quoting SwingMan
{quote} The .exe files must work with the latest version of Metatrader, there are many other users who have no problem. I can post source code later, but now there are still some problems to be solved, but I can send you the latest version privately.
I don't need source code. Just exe filed complied on latest MT4 version.
Thank you very much.
Learning to Do to Earn
Just a remark:
In #Post 14
https://www.forexfactory.com/showthr...0#post12797960
I posted a "Happy Hours" chart. At that time, GMT-Offset = 2 on my computer.

Now for GMT-Offset = 3 there are small differences:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1-GMT-Offset-3.png Size: 24 KB
I like the total out look of the smbreakout indicator
Quoting SwingMan
Just a remark: In #Post 14 https://www.forexfactory.com/showthr...0#post12797960 I posted a "Happy Hours" chart. At that time, GMT-Offset = 2 on my computer. Now for GMT-Offset = 3 there are small differences: {image}
the united states switched to summer time last weekend; I think that must be the reason.
Correcting for the weekly pivot, moving average of 50 and 0.382 fibonacci of the daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4fibo.png Size: 46 KB
Caution, patience and balance.
[quote = SwingMan; 12803785] Juste une remarque: dans #Post 14 https://www.forexfactory.com/showthr...0#post12797960 j'ai publié un graphique "Happy Hours". À ce moment, GMT-Offset = 2 sur mon ordinateur. Maintenant, pour GMT-Offset = 3, il y a de petites différences: {image} [/ quote]

Hi Swingman
Could you explain the use of this indicator for trading ?
Maybe an example to illustrate ?
Quoting zoraxfx
Hi Swingman Could you explain the use of this indicator for trading ? Maybe an example to illustrate ?
Here have you an example:
https://www.forexfactory.com/showthr...9#post12804579
Excuse me... I was talking about RT Hours Range
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