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Breakout Trading - Simple Weekly System

  • #121
  • Apr 14, 2020 4:01pm Apr 14, 2020 4:01pm
Quoting SwingMan
{quote} New Version "sm3BarFractalBreak-BoJack v3.0" A little help for trading analysis - display of trading levels. {image} {file}
Thank you Sir. Is it possible to move the column showing digits as i like to see the head of my trade.
  • #122
  • Apr 15, 2020 1:44am Apr 15, 2020 1:44am
Quoting Djmaxi
...Is it possible to move the column showing digits as i like to see the head of my trade.
Do you think that the displayed prices should be somewhere else?
That is possible, but I used the built-in price label from Metatrader.
One can change that, but why should I invest time when nobody uses the indicator? I do not see any trades, charts, analyzes or comments from you or other members who use the indicator.

There is the parameter "Show_TradingLevel_Values = false" to switch off the display.
  • #123
  • Apr 15, 2020 1:50am Apr 15, 2020 1:50am
Quoting SwingMan
{quote} Do you think that the displayed prices should be somewhere else? That is possible, but I used the built-in price label from Metatrader. One can change that, but why should I invest time when nobody uses the indicator? I do not see any trades, charts, analyzes or comments from you or other members who use the indicator. There is the parameter "Show_TradingLevel_Values = false" to switch off the display.
Swingman I just want you to know that I have been using this indicator that you adjusted for me everyday and it has transformed my manual trading so far. I don't really post charts anywhere so I don't want you to think I'm unappreciative because I don't post charts. Thank you very much for what you did for me. Please let me know if there is anything I can do for you.
  • #124
  • Apr 15, 2020 3:22am Apr 15, 2020 3:22am
Quoting bojack34
...Swingman I just want you to know that I have been using this indicator that you adjusted for me everyday and it has transformed my manual trading so far. I don't really post charts anywhere so I don't want you to think I'm unappreciative because I don't post charts. Thank you very much for what you did for me. Please let me know if there is anything I can do for you.
I am pleased that the indicator is useful to you!

I noticed that the pattern is good on H4 and also on H1, and less on D1. The trading levels are useful for quick visual analysis, like many other indicators.

Actually, I'm working on another interesting thing like in #Post 450 https://www.forexfactory.com/showthr...7#post12868677.
Because I use similar algorithms, I have programmed a few things for your pattern, it would also be possible to make an EA, so that one can test some parameters or filters, so one can also trade better manually.

Because you are trading with this 3BF pattern, it would be helpful to make as expert comments or suggestions, then I may still be able to make changes.
I don't understand why you shouldn't post charts, it doesn't hurt ...
  • #125
  • Apr 15, 2020 3:48am Apr 15, 2020 3:48am
Quoting SwingMan
{quote} I am pleased that the indicator is useful to you! I noticed that the pattern is good on H4 and also on H1, and less on D1. The trading levels are useful for quick visual analysis, like many other indicators. Actually, I'm working on another interesting thing like in #Post 450 https://www.forexfactory.com/showthr...7#post12868677. Because I use similar algorithms, I have programmed a few things for your pattern, it would also be possible to make an EA, so that one can test some parameters or filters, so one can also...
i've tried a couple of times now to find an example on a chart and mark all the areas I would enter and exit a trade. It's so subjective. It would be hard to make an EA for this because my entries vary so much depending on previous levels and pivots and 00 lines etc. You could always just enter on the Open of Candle 4......and then enter again at at 33% retrace into candle 3.......and then at a 50% retrace of Candle 3. The SL will always go above/below Candle 2 slightly adjusted for any 00 line or Pivot that might be really close to that H/L area of Candle 2. Adjust SL to be just behind those of they are close. I hope this helps some.

EDIT: Here is a picture I already had saved. It doesn't show everything because like I said, it's pretty subjective where you place your entires and where you place your SL's. But overall, for anyone who understands price actions will be able to use this strategy.


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My Current Template

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  • #126
  • Apr 15, 2020 5:33am Apr 15, 2020 5:33am
Quoting bojack34
...My Current Template
Thank you, this is helpful, and the EA that I intend to do will not be that expensive.
I'm more interested in statistics on how prices reach levels.

The indicator still has some small bugs ... On D1 you can see better that no lines are drawn for the signals on the weekend.

Now at NZDUSD I have found that no fractal is taken into account when e.g. two bars have the same high (for me on March 2nd 08:00 and 12:00, and not for you). I can only see something like this quickly if I also see other charts or someone draws my attention.
  • #127
  • Apr 15, 2020 6:28am Apr 15, 2020 6:28am
SM, You said no one posts their charts....well here's mine & I would really appreciate if you added an alert to the indicator. Is it possible to add a traed filter to this system?!! Just wondering
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"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #128
  • Apr 15, 2020 7:33am Apr 15, 2020 7:33am
Hi Swingman, I am using v2.2 and am very impressed with the indicator, it has taken my trading to the next level, thx to Erebus as well. I would also like a alert to indicate when price hits the box H or L, thx for the great work on this.
Trade Without Fear
  • #129
  • Apr 15, 2020 7:48am Apr 15, 2020 7:48am
Alert, alert!
In the last few days I have certainly programmed something to wake up the user when he is sleeping and a signal comes to trading ...
But because everyone sleeps deeply and does not post anything, I cannot know whether someone is using it, so I ask why should I program for anyone ...
  • #130
  • Apr 15, 2020 7:56am Apr 15, 2020 7:56am
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Trade Without Fear
  • #131
  • Apr 15, 2020 8:00am Apr 15, 2020 8:00am
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Trade Without Fear
  • #132
  • Apr 15, 2020 8:02am Apr 15, 2020 8:02am
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Trade Without Fear
  • #133
  • Apr 15, 2020 8:42am Apr 15, 2020 8:42am
@Rubernet

Wow!
Now i see what effect the alerts have

Please write briefly which indicator (version) you are using.
You trade H4, I think on Monday and Tuesday.

As a signal do you have the crossing with the 15% or the close above the level?
  • #134
  • Apr 15, 2020 9:24am Apr 15, 2020 9:24am
Quoting SwingMan
@Rubernet Wow! Now i see what effect the alerts have Please write briefly which indicator (version) you are using. You trade H4, I think on Monday and Tuesday. As a signal do you have the crossing with the 15% or the close above the level?
Yes, please make alerts great again
Anything above the line is an uptrend, below the line is a downtrend.
  • #135
  • Apr 15, 2020 9:57am Apr 15, 2020 9:57am
@Swingman

I use your indicator smBreakout-2D1- Weekly v2.2 on H4 and trade only Wed to Fri off the Mon and Tues H L. Attach also the alert indicator I use to alert me when price breaches box H or L as I trade 28 Pairs.

Reason I would like a alert in your indicator to set the alerts auto as it is quite time consuming to set alert for each chart. I like to be alerted at breach of H or L as it is part of my strat to check some filters to determine if I am going to place one or two trades on the same pair.

Currently as price hits and passes the 15%, my buy or sell stop is activated.

Attached File(s)
File Type: ex4 MQLTA MT4 Price Line Alert.ex4   98 KB | 522 downloads
Trade Without Fear
  • #136
  • Apr 15, 2020 10:14am Apr 15, 2020 10:14am
Quoting Rubernet
...Attach also the alert indicator I use to alert me when price breaches box H or L as I trade 28 Pairs.
Okay, that's fine.

But if you trade 28 pairs, you actually need a dashboard! I started programming something for the breakouts systems that are now traded in forum, but it helps me to get more visual information.

What signal do you need? (One can also do all ...)
- price cross with the H/L
- price cross with the H/L +-15%
- Close above / below 15%
  • #137
  • Apr 15, 2020 10:29am Apr 15, 2020 10:29am
Quoting SwingMan
{quote} Okay, that's fine. But if you trade 28 pairs, you actually need a dashboard! I started programming something for the breakouts systems that are now traded in forum, but it helps me to get more visual information. What signal do you need? (One can also do all ...) - price cross with the H/L - price cross with the H/L +-15% - Close above / below 15%
Swingman, can you post the dashboard here when it is ready?
  • #138
  • Apr 15, 2020 10:45am Apr 15, 2020 10:45am
Quoting SwingMan
{quote} Okay, that's fine. But if you trade 28 pairs, you actually need a dashboard! I started programming something for the breakouts systems that are now traded in forum, but it helps me to get more visual information. What signal do you need? (One can also do all ...) - price cross with the H/L - price cross with the H/L +-15% - Close above / below 15%
At this stage a alert to indicate price has crossed the H or L is fine for me as that is a signal for me to apply some filters to determine my trade.
Trade Without Fear
  • #139
  • Apr 15, 2020 10:52am Apr 15, 2020 10:52am
Quoting Rubernet
{quote} At this stage a alert to indicate price has crossed the H or L is fine for me as that is a signal for me to apply some filters to determine my trade.
Hey Rubernet, could you kindly assist the novice traders like me.Which filters can one use and how does it work. TIA
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #140
  • Apr 15, 2020 10:53am Apr 15, 2020 10:53am
Quoting Rubernet
...At this stage a alert to indicate price has crossed the H or L is fine for me as that is a signal for me to apply some filters to determine my trade.
I also thought that, because in manual trading it is better to do so!
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