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  • #661
  • Apr 27, 2020 5:19am Apr 27, 2020 5:19am
Quoting johnsmith2nd
Thanks for the thread, and your efforts in sharing and posting! Went short EURNZD after channel cross, all SMA's were in the red and RSI. Price reversed. Closed order. Just so I understand, was this a good setup? {image}
To me you followed the rules.
While backtesting I've had also many of those trades. I still have to wrap my head around those losers. Because they can produce a quite high -pip count.
I guess it's better to close the trade when one sees that the low of a bar is even above the 8EMA high. That's a strong bullish sign. Let's wait for Lauras oppinion... ;-)
  • #662
  • Apr 27, 2020 5:27am Apr 27, 2020 5:27am
Quoting Degolep
{quote} Could you explain what do the m15 and m1 MA help you on m5?
How I understood to enter a trade higher and lower timeframe SMA must agree, and SMA200 dashboard shows that, which is a part of LauraT template. However in a backtest this indicator does not work. So to get these values I used other period SMAs. Hope it helps
  • #663
  • Apr 27, 2020 5:31am Apr 27, 2020 5:31am
Quoting johnsmith2nd
Thanks for the thread, and your efforts in sharing and posting! Went short EURNZD after channel cross, all SMA's were in the red and RSI. Price reversed. Closed order, for a loss. Just so I understand, was this in theory a good setup? It just didn't work out this time? {image}
Hi

Yes, setup was good. Just one of those that didn't go our way. It's been a choppy day in many markets so far today, hopefully we will eventually get some trends!
  • #664
  • Apr 27, 2020 5:36am Apr 27, 2020 5:36am
Attached is a package containing the three indicators I created and the Roadmap template I created.

Please note source code is not included in the .algo files as it depends on a library I keep a lot of reusable types and extensions in.
Attached File(s)
File Type: zip Roadmap.zip   202 KB | 591 downloads
  • #665
  • Apr 27, 2020 5:42am Apr 27, 2020 5:42am
GU and UJ
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  • #666
  • Apr 27, 2020 5:55am Apr 27, 2020 5:55am
Quoting MikeHanson
Attached is a package containing the three indicators I created and the Roadmap template I created. Please note source code is not included in the .algo files as it depends on a library I keep a lot of reusable types and extensions in. {file}
Thanks Mike, really appreciate it, is there a way to get In touch with you?
  • #667
  • Apr 27, 2020 5:56am Apr 27, 2020 5:56am
Quoting MikeHanson
Attached is a package containing the three indicators I created and the Roadmap template I created. Please note source code is not included in the .algo files as it depends on a library I keep a lot of reusable types and extensions in. {file}
Much appreciated Mike - thank you
  • #668
  • Apr 27, 2020 6:09am Apr 27, 2020 6:09am
Quoting MikeHanson
Attached is a package containing the three indicators I created and the Roadmap template I created. Please note source code is not included in the .algo files as it depends on a library I keep a lot of reusable types and extensions in. {file}

Thanks I'll check it out
  • #669
  • Apr 27, 2020 6:13am Apr 27, 2020 6:13am
[quote=ogboriefor;12901802]
Quoting Robin68
{quote} I have been following this thread from the very first post by Laura and Hanover. I do not understand how to read the dashboard by Hanover. It is meant to easy my life but cannot comprehend how to read and apply it. Anyone can help with this.

the interpretation of the indicator (scanner) is very accurately explained by @hanover here: https://www.forexfactory.com/showthread.php?t=994835
  • #670
  • Apr 27, 2020 6:13am Apr 27, 2020 6:13am
Quoting johnsmith2nd
Thanks for the thread, and your efforts in sharing and posting! Went short EURNZD after channel cross, all SMA's were in the red and RSI. Price reversed. Closed order, for a loss. Just so I understand, was this in theory a good setup? It just didn't work out this time? {image}
I think it is better to trade FX from M5 and higher.
Trading S/R with PA only. No indicators anymore!
  • #671
  • Apr 27, 2020 6:17am Apr 27, 2020 6:17am
took chf/yen off pivot down to yesterday low
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  • #672
  • Apr 27, 2020 6:20am Apr 27, 2020 6:20am
Very nice thread Laura.

Subscribed!!
  • #673
  • Apr 27, 2020 6:24am Apr 27, 2020 6:24am
for some reason I cant get sma 200 meter to work anyone help?
  • #674
  • Apr 27, 2020 6:24am Apr 27, 2020 6:24am
In the highlighted areas in Screenshot1, the price keeps coming to 200 SMA and getting rejected but the channel is behind the price. Will that be a valid setup? And by the time I upload the file and ready to post - the channel broke the SMA for 10 pips or so and again started climbing up - Screenshot2. E/U has become crazy , One thing I observed from the opening of Asian session till now is that M1 can get really choppy some times unless it is already trending heavily and it is better to align the trade with either at least M5/M15 TF.
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  • #675
  • Apr 27, 2020 6:24am Apr 27, 2020 6:24am
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I promised I'd post a multi-bullet trade. Unfortunately the only one I've had today is a little out of the ordinary. I'll do my best to explain the reasoning behind the trades but please note this is NOT a standard trade and I'm not advocating that anyone trades this way.

The initial entry was a channel cross to the downside, so I got short. Markets were choppy so I made a conscious decision to multi-bullet. I noticed the daily open line had previously acted as resistance and that the previous day's high was just above that.

As you'll see, I added my second bullet when price started approaching the daily open line. As it turns out, that was sufficient and no third bullet was required.

Point being, if you are going to use the multi-bullet approach, plan it in advance and have a rough idea where you are going to add to your initial entry. Had it been necessary I would have added a third bullet somewhere between the daily open line and the previous day's high.
  • #676
  • Apr 27, 2020 6:28am Apr 27, 2020 6:28am
Quoting karun
In the highlighted areas in Screenshot1, the price keeps coming to 200 SMA and getting rejected but the channel is behind the price. Will that be a valid setup? And by the time I upload the file and ready to post - the channel broke the SMA for 10 pips or so and again started climbing up - Screenshot2. E/U has become crazy , One thing I observed from the opening of Asian session till now is that M1 can get really choppy some times unless it is already trending heavily and it is better to align the trade with either...
Because the ADR for EU is pretty low, I'd definitely advise moving up to the 5m.
  • #677
  • Apr 27, 2020 6:49am Apr 27, 2020 6:49am
In on USDCHF.

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Is this a valid buy?
  • #678
  • Apr 27, 2020 7:01am Apr 27, 2020 7:01am
Quoting optitrader
In on USDCHF. {image} Is this a valid buy?
Sure
  • #679
  • Apr 27, 2020 7:01am Apr 27, 2020 7:01am
Quoting LauraT
{image} I promised I'd post a multi-bullet trade. Unfortunately the only one I've had today is a little out of the ordinary. I'll do my best to explain the reasoning behind the trades but please note this is NOT a standard trade and I'm not advocating that anyone trades this way. The initial entry was a channel cross to the downside, so I got short. Markets were choppy so I made a conscious decision to multi-bullet. I noticed the daily open line had previously acted as resistance and that the previous day's high was just above that. As you'll see,...
Targets
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  • #680
  • Apr 27, 2020 7:28am Apr 27, 2020 7:28am
2nd time unlucky...
entered long as price dipped below channel. retraced and closed position for another loss. Quite possibly RSI was not greater than 65, so maybe need stronger RSI.
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