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Daily Charts and Stuff

  • #41
  • Jun 5, 2020 6:17pm Jun 5, 2020 6:17pm
Big Dave,

Here's an example of how I integrate Price Action into my set up. Higher Highs and Higher Lows are marked X. I want to see this action in addition to all the other indi signals. This chart is NZDJPY daily this last week. I don't look for where the indi's cross only if they have crossed. The indi at the bottom is Ultratrend.
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Click to Enlarge Name: big dave.JPG Size: 57 KB
  • #42
  • Jun 5, 2020 6:51pm Jun 5, 2020 6:51pm
Quoting butama
{quote} Dave, I was the same until an epiphany struck. 1) Don't trade against the trend! This will eliminate most of the losers. How to determine the trend may require an indicator or you can do it by eyeballing price action. I use Ultratrend and price action. When I added this element to my testing I saw an immediate improvement to test results. From mid 60's to 87% strike rate on current forward testing. I've published my stats on https://www.fxblue.com/users/1033. If you filter the data from 17th feb 2020 you'll see how much this has...
Thank you very much Butama. I'll implement your tips and have a deeper look into these indicators. Again, thank you.
  • #43
  • Jun 6, 2020 4:50am Jun 6, 2020 4:50am
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++ Hi Dave. To be fair, when the market is generally ranging on many pairs (D1) It's tough to make anything work. In fact my research on this general trading style comes from VP https://www.youtube.com/channel/UCc8...r4NGbaQFnd2b-A , who is probably not trading D1 at this time, according to his basic methods. Feel free to share your take on trading, preferably D1 & H4. More later, Darryl
hello diamond, your trading system is really unique. are you already backtesting the system ? if soo how many win rate it give you ?

Thank you
  • #44
  • Jun 6, 2020 8:09pm Jun 6, 2020 8:09pm
Quoting BigDave1
{quote} Thanks Diamond. Would you mind explaining how you use the ADR? Also, how do you avoid whipsaws/ranging markets? I've been back-testing the algorithm (with a few of my own tweaks/additions) and I feel as if I am taking too many losses due to whipsaws/ranging markets.
+++++++++++++++++++++++++++++++

ADR/ATR (used interchangeably depending on which TF you're trading on) is used to calculate profit targets & stop loss. The general rule is (for some of us) 1 ADR/ATR is 1st Profit target. 2nd PT is a runner. Stop loss is (Approx 1.5 times ADR/ATR).

I've started using 3 positions, as suggested by Butama. In that chase TP 1 is 1 ADR/ATR. TP 2 is 2 ADR/ATR, with 3rd position being the runner.

I use the indicators I posted on 1st page. Please reference that criteria, to give you an idea of how to judge acceptable entries. But, by all means, do your own evaluations. You quite possibly will find various nuances that work better for you.

I Don't do much backtesting, other than quick once overs. I'm so burned out on compiling databases full of information that tends to change 6 months later. YUCK!

Lately I've been spending much more time on M15, and using its general ATR. Since I live in US, I trade from about London lunch for the next 4-5 hours, looking for strong v weak. 1 ATR is usually quite easy to reach, if you wait for a decent Pull Back first.

Hope this adds some benefit to your chart analysis.

Darryl
  • #45
  • Jun 6, 2020 8:13pm Jun 6, 2020 8:13pm
Quoting direct45
{quote} hello diamond, your trading system is really unique. are you already backtesting the system ? if soo how many win rate it give you ? Thank you
+++++++++++++++++++++++++++++++++++

Answer in post 44 above.
  • #46
  • Jun 6, 2020 8:50pm Jun 6, 2020 8:50pm
THROW lagging indcators,trade naked chart with only indicators that gives future predictions like fib,ATR,divergence,ichi etc,please dont waste your time with so many indicators.Learn BTMM and ICT methods,they are the leading ones at this time,thanks!
  • #47
  • Jun 7, 2020 7:05am Jun 7, 2020 7:05am
Quoting T4Trade
THROW lagging indcators,trade naked chart with only indicators that gives future predictions like fib,ATR,divergence,ichi etc,please dont waste your time with so many indicators.Learn BTMM and ICT methods,they are the leading ones at this time,thanks!
++++++++++++++++++++++++

I 100% agree, this is YOUR opinion. Cheers
  • #48
  • Jun 8, 2020 9:53pm Jun 8, 2020 9:53pm
Quoting diamonddbw
Chart 4 {image}
What settings are you using on the Rex Oscillator?
  • #49
  • Jun 9, 2020 5:04am Jun 9, 2020 5:04am
Quoting 0nepiece
{quote} What settings are you using on the Rex Oscillator?
+++++++++++++++++++++++

15 - 0 - 15 - 0 for now
  • #50
  • Edited Jun 29, 2020 12:53am Jun 28, 2020 2:08pm | Edited Jun 29, 2020 12:53am
Quoting diamonddbw
Individually, each one of these indicators has minimal value. As a family, or team, their value is amplified. There is a sixth indicator also, which is a simple ATR. Most charts I post will be daily, D1. I choose D1 because it makes more sense for my time involved. I make most decisions mainly once daily. Also trading this way, gives ample opportunity to evaluate profit/loss potentials. As with any method you have to bring your brain to the party. How I trade this: • I need agreement from at least 4 of the visible indicators. • I'll always be aware...
Thank You for sharing Your algo, it is very nice!

Do You have any additional rules that You are following, for example:
* One candle rule
* EVZ daily value
* distance from baseline to avoid pullbacks
* in case of multiple trading signals on same currency (e.g SELL on EUR/NZD, EUR/GBP, EUR/USD) You pick only one currency pair to trade with
*etc...
  • #51
  • Jul 4, 2020 4:42am Jul 4, 2020 4:42am
Don't you use a volume indicator as well? VP says to use it. Additionally, which one is the exit indicator?
  • #52
  • Jul 14, 2020 7:16am Jul 14, 2020 7:16am
I gave VP's instructions a good study. Did not find the combo of indicators to get the job done to satisfy me.

One thing I did find to be bogus, was him stating that 'IG Markets' was a very good broker for US. imho, I still think Oanda is far superior.

Please keep us updated if you find any of VP's stuff useful for you.

Sorry if I've wasted anyones time.

Darryl
  • #53
  • Jul 22, 2020 6:56am Jul 22, 2020 6:56am
What do you think went wrong with the combo of indicators you were using? Did you have to get rid of everything and start from scratch?
  • #54
  • Jul 23, 2020 5:26am Jul 23, 2020 5:26am
Quoting 0nepiece
What do you think went wrong with the combo of indicators you were using? Did you have to get rid of everything and start from scratch?
++++++++++++++++++++++++++

They would be golden at times, and rubbish, other times. Inconsistancy on Daily & H4 is no place to be.
  • #56
  • Nov 8, 2020 11:54pm Nov 8, 2020 11:54pm
Through position sizing, you can trade the daily charts just fine on a small trading account. You just have to trade a smaller position size.
  • #57
  • Nov 29, 2020 11:47pm Nov 29, 2020 11:47pm
A big shout out to you if working against the trend is working for you.
  • #58
  • Dec 7, 2020 10:57am Dec 7, 2020 10:57am
Sorry complete newb here when it comes to indicators. When I download the CMF and put it into metatrader I only get one line. However in your pictures it has 2. How do I put the 2nd line in?

Thanks in advance
  • #59
  • Jan 11, 2021 9:42am Jan 11, 2021 9:42am
Quoting butama
Darryl, here's couple of examples of test results for USDSGD and USDCHF for my algo. Currently all trade parts are the same size at the same time. {image} {image}
Helllo, looking for a jouranl for me and find yours. Could you tell me the column Trend means? Is that a 3rd TP?

Greetings from germany
  • #60
  • Jan 18, 2021 12:43am Jan 18, 2021 12:43am
Quoting shazam14
Sorry complete newb here when it comes to indicators. When I download the CMF and put it into metatrader I only get one line. However in your pictures it has 2. How do I put the 2nd line in? Thanks in advance
Drag and drop "Moving average" indicator on the CMF window ..

Best wishes
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