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Payapa Trading System - Modified Ali's Version

  • #241
  • May 18, 2020 2:49am May 18, 2020 2:49am
Quoting alhalawi
{quote} Always wait for candle to close brightly above or below MA on my chart the candle did not close above MA till now
That's very correct. I didn't wait for the candle to close for further confirmation before taking trade, hence I'm noticing a little drawdown at the moment,

NB: Had 45 min to wait for candle to close then. Now it's less than 3 mins to go. Will it be right to enter if it still hold below ema 21 after timer clocks zero
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 205 KB
In all your ways acknowledge Him and He will direct your path.
  • #242
  • May 18, 2020 2:59am May 18, 2020 2:59am
Quoting OmegaFire
{quote} That's very correct. I didn't wait for the candle to close for further confirmation before taking trade, hence I'm noticing a little drawdown at the moment, NB: Had 45 min to wait for candle to close then. Now it's less than 3 mins to go. Will it be right to enter if it still hold below ema 21 after timer clocks zero {image}

it's up to you

i always wait
  • #243
  • May 18, 2020 3:32am May 18, 2020 3:32am
Quoting alhalawi
{quote} good morning are you still developing this in indicator ? and please can you share when it's done and please explain what it is based on
Hi, it's almost finished. i can release a test version with expiration very soon, so you can test it too.
  • #244
  • May 18, 2020 5:59am May 18, 2020 5:59am
Quoting Winnigag
An idea is one i borrowed from Laura's Roadmap thread. It is the use of a Composite RSI tool. Below 0-49 gives bearish pressure, 50+ bullish pressure. Its not used in the classic Overbought/Oversold way, as it gives a composite reading of the RSI over multiple time frames. Ive attached one, it only shows a reading value. There's another version, but it takes up an indicator window, and i figured we didnt want to add more clutter, esp if some of us have been using the TDI. THIS IS TO HELP US SEE TREND OF BIG PICTURE ***EDIT, I've also added the other...
hi

thanks for the indicators
can we make the trend strength indicator read from the daily chart rsi as i realised it reads from H4

any change in settings that can be made ?
  • #245
  • May 18, 2020 8:26am May 18, 2020 8:26am
2 trades taken today
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURNZD.png Size: 58 KB
Click to Enlarge Name: NZDCHF.png Size: 59 KB
  • #246
  • May 18, 2020 9:32am May 18, 2020 9:32am
took a sell on aud nzd is it a good setup?
Attached Image (click to enlarge)
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  • #247
  • May 18, 2020 10:08am May 18, 2020 10:08am
Quoting Iamdrp
took a sell on aud nzd is it a good setup? {image}
Six trades taken today and all in profit

The setup looks perfect to me
In all your ways acknowledge Him and He will direct your path.
  • #248
  • May 18, 2020 10:42am May 18, 2020 10:42am
Quoting OmegaFire
{quote} Six trades taken today and all in profit The setup looks perfect to me
Trend on EURNZD is reversing. RSI (14) shows position is oversold on H1. Getting ready to trade with the trend as soon as setup is perfect. See NZDUSD also
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20200518-163746.png Size: 137 KB
Click to Enlarge Name: Screenshot_20200518-163900.png Size: 141 KB
In all your ways acknowledge Him and He will direct your path.
  • #249
  • May 18, 2020 10:54am May 18, 2020 10:54am
Hello Alhalawi,

If you compare the previous image I took from my phone with the one below, you will notice that the indicator almost misled me to continue selling and aiming for TP3 even when the trend is over bcos RSI (14) on the indicator wasn't reporting accurate position. I think it is very important that you look into it
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Click to Enlarge Name: Screenshot1.png Size: 135 KB
In all your ways acknowledge Him and He will direct your path.
  • #250
  • May 18, 2020 10:56am May 18, 2020 10:56am
Quoting OmegaFire
{quote} Trend on EURNZD is reversing. RSI (14) shows position is oversold on H1. Getting ready to trade with the trend as soon as setup is perfect. See NZDUSD also {image} {image}
Are you planning to go long on EURNZD? Feels like theres more downside
  • #251
  • May 18, 2020 11:02am May 18, 2020 11:02am
Quoting Jeremy1998
{quote} Are you planning to go long on EURNZD? Feels like theres more downside
That's exactly my point. RSI (14) on the indicator says there's more on the downside and I actually took the trade but when I looked at the RSI (14) on a separate chart on my phone, I see something different and that's what's playing out. I'm waiting to go LONG...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200518-170157.png Size: 142 KB
In all your ways acknowledge Him and He will direct your path.
  • #252
  • May 18, 2020 11:16am May 18, 2020 11:16am
Quoting OmegaFire
Hello Alhalawi, If you compare the previous image I took from my phone with the one below, you will notice that the indicator almost misled me to continue selling and aiming for TP3 even when the trend is over bcos RSI (14) on the indicator wasn't reporting accurate position. I think it is very important that you look into it {image}
well the thing that defines a trader from another is where he takes hi profit
too early
too long
etc.

i personally would set the SL to BE when Tp1 is hit and then let it ride risk free trade
might close half position on tp2 and might leave it to tp3

and regarding rsi you can't rely on it for taking profits as it might extend a lot more
  • #253
  • May 18, 2020 11:17am May 18, 2020 11:17am
Quoting OmegaFire
{quote} That's exactly my point. RSI (14) on the indicator says there's more on the downside and I actually took the trade but when I looked at the RSI (14) on a separate chart on my phone, I see something different and that's what's playing out. I'm waiting to go LONG... {image}
just shorted
who dares wins
mashFX DSRII Return This Year: na
  • #254
  • May 18, 2020 11:20am May 18, 2020 11:20am
one bad trade today EURGBP

hit the sl
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 28 KB
  • #255
  • Edited 11:41am May 18, 2020 11:30am | Edited 11:41am
Quoting Tokken
one bad trade today EURGBP hit the sl {image}
Did not take the trade as i downloaded this indicator posted by one of the members which indicated that this pair is bullish on higher timeframe

we can attach this indicator on our chart which could go in 3 ways

we are trading with the trend the it should be green when we are long and red when short
it could be ranging with the colour gray as the NZDUSD chart posted
or it would be against trend as the example shown on EURGBP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP.png Size: 37 KB
Click to Enlarge Name: NZDUSD.png Size: 54 KB
Attached File(s)
File Type: ex4 TrendStrength - RSI-MTF.ex4   16 KB | 547 downloads
  • #256
  • Edited 12:15pm May 18, 2020 11:31am | Edited 12:15pm
Quoting OmegaFire
{quote} That's exactly my point. RSI (14) on the indicator says there's more on the downside and I actually took the trade but when I looked at the RSI (14) on a separate chart on my phone, I see something different and that's what's playing out. I'm waiting to go LONG... {image}
Also please note that the pair might reverse after hitting the trendline

anyway stoploss is at BE so risk free trade
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD.png Size: 62 KB
  • #257
  • May 18, 2020 11:39am May 18, 2020 11:39am
Quoting alhalawi
{quote} Did not take the trade as i downloaded this indicator posted by one of the members which indicated that this pair is bullish on higher timeframe {image} {file}
Hi Alhalawi,

Thx for the advice, i am going to use it
  • #258
  • Edited 11:57am May 18, 2020 11:45am | Edited 11:57am
Quoting mashfx
{quote} just shorted
Close it and wait a little longer for confirmation.

Check this NZDUSD RSI (14) on H1 and compare with the one on indicator. I decided to use a separate clean chart to view it bcos the one on the indicator is seriously lagging. I'm waiting to follow the trend on the higher time frame once criteria is met

BUY EURNZD
SELL NZDUSD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20200518-174027.png Size: 144 KB
Click to Enlarge Name: Screenshot1.png Size: 151 KB
Click to Enlarge Name: Screenshot2.png Size: 154 KB
In all your ways acknowledge Him and He will direct your path.
  • #259
  • May 18, 2020 12:20pm May 18, 2020 12:20pm
Quoting alhalawi
{quote} Did not take the trade as i downloaded this indicator posted by one of the members which indicated that this pair is bullish on higher timeframe we can attach this indicator on our chart which could go in 3 ways we are trading with the trend the it should be green when we are long and red when short it could be ranging with the colour gray as the NZDUSD chart posted or it would be against trend as the example shown on EURGBP {image} {file} {image}
This seems a lot cleaner, i'm not so keen on TDI.

Your original indicator which painted arrows on alert candles, is that still available as a download, rather than the one where you have taken them out and put the 21 ema in?
  • #260
  • May 18, 2020 12:22pm May 18, 2020 12:22pm
Quoting jheprivate
{quote} This seems a lot cleaner, i'm not so keen on TDI. Your original indicator which painted arrows on alert candles, is that still available as a download, rather than the one where you have taken them out and put the 21 ema in?
i have attached it back on first post with adjusted tpl

some people have requested it again to there you go
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