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Alien's Extraterrestrial Visual Systems

  • #22,541
  • Mar 23, 2021 5:46pm Mar 23, 2021 5:46pm
Quoting qhrtn
I'm now wondering how much more it'll fall and whether I should take profit now... {image}
No-one can know that for sure. You can look at S&R and consider your R:R ratio when setting targets. Then you need to consider whether to lock in profit during the trade by trailing a stop loss. This is where any system has to become personalised to suit your own psychology.

Alien used to say use the ADX 89 & 144 powering down to time the exit. Another idea was to wait for ADX 42 to cross down the 89 (or something similar) before exiting. I would say that if you rely on the 89 & 144 powering down on the same TF as the trade then it will work sometimes but other times it gets you out too late. Alien also used to say exit when the lower TFs started to turn against the trade. For me, profits need to be protected and especially against red news events and at S&R levels. You can always re-enter after a retrace if the system indicates continuation rather than reversal.

Just my 2c
  • #22,542
  • Mar 23, 2021 6:06pm Mar 23, 2021 6:06pm
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  • #22,543
  • Mar 23, 2021 8:10pm Mar 23, 2021 8:10pm
AUDUSD-H4 also.. almost 100pips as my target.
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  • #22,544
  • Mar 24, 2021 5:10am Mar 24, 2021 5:10am
hello fellow brothers. i am new here. could someone please tell me how or where to get the indicators? there seem to be so many pages and i got lost

????
  • #22,545
  • Mar 24, 2021 6:15am Mar 24, 2021 6:15am
Quoting Zimbinga
{quote} No-one can know that for sure. You can look at S&R and consider your R:R ratio when setting targets. Then you need to consider whether to lock in profit during the trade by trailing a stop loss. This is where any system has to become personalised to suit your own psychology. Alien used to say use the ADX 89 & 144 powering down to time the exit. Another idea was to wait for ADX 42 to cross down the 89 (or something similar) before exiting. I would say that if you rely on the 89 & 144 powering down on the same TF as the trade then it will...
Thank you. Your comment is really helpful. I too noticed exiting when ADX 89/144 is going down can sometimes make you exit too late. (Maybe it worked better several years ago when alien advocated this exit method...)

Quoting donpakundo19
AUDUSD-H4 also.. almost 100pips as my target. {image}
Very aesthetic chart Do you only use DS and RSIOMA? I don't see stochastic and ADX on your screen but you seem to be doing great without them!
  • #22,546
  • Mar 24, 2021 7:06am Mar 24, 2021 7:06am
Quoting cossee
hello fellow brothers. i am new here. could someone please tell me how or where to get the indicators? there seem to be so many pages and i got lost ????

Alien posted indicators in the first several pages of this thread...

And there are a lot of variations of the original indicators modified by many other members throughout the thread.

I suggest you start with Alien's original indicators and try out alternative indicators and pick ones that suit you best.

Hope this helps!
  • #22,547
  • Mar 24, 2021 7:58pm Mar 24, 2021 7:58pm
Quoting qhrtn
quote} Very aesthetic chart Do you only use DS and RSIOMA? I don't see stochastic and ADX on your screen but you seem to be doing great without them!
Yes, I only use RSIOMA and Delayed Stochastic to follow the momentum at H4.
  • #22,548
  • Mar 25, 2021 12:44am Mar 25, 2021 12:44am
Quoting cossee
hello fellow brothers. i am new here. could someone please tell me how or where to get the indicators? there seem to be so many pages and i got lost ????
All the indicators are in the paperclip in the top right of the screen, you click on it and get it
  • #22,549
  • Mar 25, 2021 1:11am Mar 25, 2021 1:11am
Quoting Zimbinga
{quote} No-one can know that for sure. You can look at S&R and consider your R:R ratio when setting targets. Then you need to consider whether to lock in profit during the trade by trailing a stop loss. This is where any system has to become personalised to suit your own psychology. Alien used to say use the ADX 89 & 144 powering down to time the exit. Another idea was to wait for ADX 42 to cross down the 89 (or something similar) before exiting. I would say that if you rely on the 89 & 144 powering down on the same TF as the trade then it will...
how to exit a transaction:
https://www.forexfactory.com/thread/...11#post7175211
  • #22,550
  • Mar 25, 2021 2:35am Mar 25, 2021 2:35am
EURCAD, H4
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  • #22,551
  • Mar 27, 2021 12:14pm Mar 27, 2021 12:14pm
Quoting qhrtn
So after spending a few days reading up the first dozen pages of this thread and looking at the charts with the Alien system indicators in place, I've made my first ever trade attempt using this system, and is now in 45-50 pip profit now. I looked over TFs from 1 minute to daily. At the time of my entry, daily and 4h were (and still are) short. On both 1h and 1min timeframes, the slingshot pattern of DS and RSIOMA was in place. ADX on all timeframes from 1 minute to 30m were suggesting me to short as well. So I entered a short with 0.2 standard...
There is my analysis

(i'm really a trend follower so since we're in reversal on daily i wouldn't have entered but let's admit)

Entry
I understand why you've entered this trade, we cross 50 line on some timeframes, it looks interesting, but if i see well your chart (perhaps i'm wrong) you entered the trade around 9h21(10h21 on your chart), imo it's really too soon because there is no reason on m1 or m5 to enter, and bigger heresy you started the trade on candles going in opposite direction of your trade.

look the screenshot below, purple line is your entry , i don't see reason on DDS m5 to enter and it's going in wrong direction on m1, there is no adx power,etc !

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Orange line is already more tempting entry with the new wave starting on m1 but we don't have enough confirmations at my taste, and still no positive indication on m5.

The good entry for me is green line because i only enter if i have at least one DDS "bell" formed with rsioma.
It's the case on m5 and m1 is still going fine with full power on adx.

Exit

"You can look at S&R and consider your R:R ratio when setting targets"

I really strongly disagree with this, for me, if you use RR to exit, it's the exact opposite of the principle of this strategy which is trying to analyze waves, moves to trade . If you do, you just admit you have no clue nor don't understand when a move has no more power and is finished. If it's the case, don't put your money at risk in trading IMO.


If i can give you a good tip to exit, look when RSIOMA crosses 5 or 95 line AND his signal line.
That's just the very basic of my exit strat, but perhaps the biggest pillar, so i would advise you to work around that.

On my screenshot the exit is the red line for example.

hope it helped you a little bit, have a good week-end
  • #22,552
  • Mar 29, 2021 6:39am Mar 29, 2021 6:39am
Quoting thomasz1
{quote} There is my analysis (i'm really a trend follower so since we're in reversal on daily i wouldn't have entered but let's admit) Entry I understand why you've entered this trade, we cross 50 line on some timeframes, it looks interesting, but...

Excellent analysis, thomasz1! Thank you so much for your detailed explanation of your analysis. Reading your post, I realized not only was my analysis wrong but also I was looking to gain too small profit. I learned a lot from your explanation. And sorry for my late response
  • #22,553
  • Mar 29, 2021 1:41pm Mar 29, 2021 1:41pm
Quoting qhrtn
{quote} Excellent analysis, thomasz1! Thank you so much for your detailed explanation of your analysis. Reading your post, I realized not only was my analysis wrong but also I was looking to gain too small profit. I learned a lot from your explanation. And sorry for my late response
really happy it helped you , don't hesitate to ask questions on other trades in the future
  • #22,554
  • Mar 29, 2021 2:10pm Mar 29, 2021 2:10pm
Quoting thomasz1
{quote} There is my analysis (i'm really a trend follower so since we're in reversal on daily i wouldn't have entered but let's admit) Entry I understand why you've entered this trade, we cross 50 line on some timeframes, it looks interesting, but if i see well your chart (perhaps i'm wrong) you entered the trade around 9h21(10h21 on your chart), imo it's really too soon because there is no reason on m1 or m5 to enter, and bigger heresy you started the trade on candles going in opposite direction of your trade. look the screenshot below,...
I actually think it's a weakness of the system that it does not pay attention to physical S&R on the charts. I have seen set ups on the indis turned right around very quickly at these levels many times. Your RSIOMA exit is fine when the volatility is not too high and so are Alien's exit ideas - but when there is a strong bounce from S/R the indis are too slow. Unless you are locking in profits against this chance, which is another area for discussion. For my style of trading anyway.
  • #22,555
  • Mar 29, 2021 3:36pm Mar 29, 2021 3:36pm
Quoting Zimbinga
{quote} I actually think it's a weakness of the system that it does not pay attention to physical S&R on the charts. I have seen set ups on the indis turned right around very quickly at these levels many times. Your RSIOMA exit is fine when the volatility is not too high and so are Alien's exit ideas - but when there is a strong bounce from S/R the indis are too slow. Unless you are locking in profits against this chance, which is another area for discussion. For my style of trading anyway.
Well, i thought that at beginning but with time i think S/R are really overrated/over-interpreted and are often an useless barrier to good trades (of course i don't talk about S/R like 1.20 on eurchf, try,etc.) So i'll cast an eye on big and certain ones but that's all.

for strong bounce i voluntary didn't talk about it to let people look after their own solutions but let's continue this discussion ^^

Yes you're completely right, the problem of 99% of indicators is how to make them working for quick,early,powerful reversals (early in the trade principally) since they are long term analysis indicator.
Well, there is a simple conclusion that a lot of people refuse to accept : it's impossible !


So, what can i do if i can't rely on indicators to manage early big reversals,etc. ?

I've searched some solutions and the one i've found is simply to have different money management and adapt exit rules for "very early trade ", "early trade", etc.
It's quite empirical to be honest, so i don't say i have the truth or something of course.

For example, in very early of the trade, during 6 first candles i'm trying to do nothing because as we said my indicators are not designed to help at this phase, i have an emergency SL and i just consider to exit if i've missed a big economic news,etc. causing a huge reversal. But otherwise, i let the trade continue.

After 7 candles, i adapt my SL, playing with partial close to exit with a little profit even if we have sudden huge reversal, but once again, if we have normal situation i let the trade continues until i met my basic exit conditions from my indicators.

If i arrive "mid trade" i just use my normal exit rules.
If i arrive wave 3 ("late trade") i can consider to be a little bit permissive if i want to gamble a bit ^^ ( i was living from betting exchange trading during some years, i have still some pro. deformations ahah)

i'll not be really more precise because i don't want to give my rules or indicators for the moment but it's funnier and more interesting to search his holy grail yourself/oneself, right ? (sorry for my english btw)

but all that said, the best idea is still to pinpoint best safe entries and avoid to trade before economic news,etc. Doing that you avoid a big of these sudden reversals (of course you can't always be lucky and dodge whales money, but statistically their influence is derisory)
  • #22,556
  • Mar 29, 2021 4:24pm Mar 29, 2021 4:24pm
Quoting thomasz1
{quote} but it's funnier and more interesting to search his holy grail yourself/oneself, right ?
Very true
  • #22,557
  • Mar 31, 2021 4:47am Mar 31, 2021 4:47am
So I've been using the regular default Stochastic indicator as an alternative to Drake Delay Stochastic and haven't noticed much difference between them in terms of their performance. They both seem to produce similar results. In what ways exactly is DSS different from the default Stochastic oscillator? DSS is a relatively uncommon indicator so google search doesn't give me any satisfying answer.

I know that the original stochastic oscillator quantifies the amount of deviation from recent high/low. What about DSS?
  • #22,558
  • Mar 31, 2021 5:43am Mar 31, 2021 5:43am
This is how I exit a trade: divergence on ADX
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Per aspera ad astra
  • #22,559
  • Mar 31, 2021 10:58am Mar 31, 2021 10:58am
Quoting jpadvisor
This is how I exit a trade: divergence on ADX {image}
Reloaded twice
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Per aspera ad astra
  • #22,560
  • Mar 31, 2021 2:38pm Mar 31, 2021 2:38pm
Quoting jpadvisor
{quote} Reloaded twice {image}
Hi jpadvisor!
Which broker generated so huge spike??? 28.03
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