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Fozzy Signal Indicator

  • #1
  • First Post: May 18, 2007 9:08am May 18, 2007 9:08am
Hey guys :-)

I thought that sharing something will be nice after so much knowledge has been extracted from this wonderful site.

I was thinking about the Fozzy Method lately and the idea of creating an indicator which will show the entries will be nice and helpful for the Fozzy followers here.

The properties of the indicator are:

  1. RSIPeriod
  2. BollPeriod
  3. MAPeriod
  4. bRequireBollingerCross - This is a nice modification I've put into the indicator to eliminate false crosses. It demands that on each cross both the MA and the Middle band will be crossed. Set on 1 if you want to use it, 0 if not.
  5. SignalWidth - The width of the arrow on the chart. Default is 2.

Screenshot:

http://img150.imageshack.us/img150/7458/fozzygc9.th.jpg

Enjoy :-)

Attached File(s)
File Type: zip Fozzy Indicator.zip   5 KB | 4,689 downloads
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  • #2
  • May 19, 2007 12:15pm May 19, 2007 12:15pm
Hello M256............

I've placed your Fozzy indicator on a chart and compared the results with the indicator I use (obtained from an early post in the original Fozzy thread). I turned off the false cross function to get ALL crosses from your indicator. The yellow vertical lines in the attached screenshot shows the 'extra' crosses missed by your indicator. As you can see, my green arrow crosses all correspond to a cross of the RSI and MA.

Any thoughts or comments?
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd.jpg Size: 27 KB
  • #3
  • May 20, 2007 12:39am May 20, 2007 12:39am
Quoting BeachBum
Hello M256............

I've placed your Fozzy indicator on a chart and compared the results with the indicator I use (obtained from an early post in the original Fozzy thread). I turned off the false cross function to get ALL crosses from your indicator. The yellow vertical lines in the attached screenshot shows the 'extra' crosses missed by your indicator. As you can see, my green arrow crosses all correspond to a cross of the RSI and MA.

Any thoughts or comments?
I noticed that you ignore the Bollinger middle band while determining signals, I think that may be the answer.
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  • #4
  • May 20, 2007 12:42am May 20, 2007 12:42am
How do you guys actually trade these signals? What do you do when the prices moves repeatedly against the signal?

Not being negative, just want to learn how you deal with this delimma. Also, are the arrows signaling that the trades comes at the opening of the bar it is on, or the close?

Thanks.
  • #5
  • May 20, 2007 6:32am May 20, 2007 6:32am
Quoting tdion
How do you guys actually trade these signals? What do you do when the prices moves repeatedly against the signal?

Not being negative, just want to learn how you deal with this delimma. Also, are the arrows signaling that the trades comes at the opening of the bar it is on, or the close?

Thanks.
Use stop loss for protection in case the market moves against you. You can use the high\low of the previous bar or constant 50 pips s\l.

Concerning the signals, I suggest you wait for the bar with the signal to close, because the signal can disappear and reappear again as the candle is forming.
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  • #6
  • May 20, 2007 11:34am May 20, 2007 11:34am
Then I'm a little confused..............when I turned off the BB function, I thought your indicator would signal ALL RSI/MA crosses, the same as my indicator. No? Is there another filter or criteria working?

Quoting M256
I noticed that you ignore the Bollinger middle band while determining signals, I think that may be the answer.
  • #7
  • May 21, 2007 7:01am May 21, 2007 7:01am
Quoting BeachBum
Then I'm a little confused..............when I turned off the BB function, I thought your indicator would signal ALL RSI/MA crosses, the same as my indicator. No? Is there another filter or criteria working?
I thought that I haven't explained myself correctly.

The indicator still takes into account weather the RSI was below\above middle band before the cross.

The modification I've inserted requires that the RSI will be below\above middle band after the cross. It's just a confirmation I've came up with, to filter signals.
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  • #8
  • May 21, 2007 7:46am May 21, 2007 7:46am
OK............thanks for the clarification!

Quoting M256
I thought that I haven't explained myself correctly.

The indicator still takes into account weather the RSI was below\above middle band before the cross.

The modification I've inserted requires that the RSI will be below\above middle band after the cross. It's just a confirmation I've came up with, to filter signals.
  • #9
  • Jun 1, 2007 4:09pm Jun 1, 2007 4:09pm
hey thanks 4 sharing ur method .... i am new to the market .....
could u tell me which site u trade on ... i mean from where u get the charting system ......
  • #10
  • Edited 1:18am Jun 26, 2007 1:04am | Edited 1:18am
Pardon me ,

I'm a noob here, I have a request for Mq4 programmer here.
I'm wondering if you could program for Sniper indicator below (Attachment 1) to plot a signal on the main window everytime there's a triger from Sniper (a cross).

The signal should look like the Fozzy indicator arrow signal as done by M256 above.

The reason for this request is that sometimes Sniper produced a potential trade signal whereby undetected by Fozzy, sometimes vice versa. So by doing this I hope to be alert of every potential trade signal by Sniper & Fozzy and at the same time be able to trace previous plot trigers for references and study.

Again pardon my humble request, its not a complicated programming I think but if I do the programming it will become scrap(rojak), heh.

Thank you.
Attached File(s)
File Type: mq4 FX_Sniper's_Ergodic_CCI_Trigger.mq4   4 KB | 1,203 downloads
  • #11
  • Last Post: Aug 7, 2007 11:28pm Aug 7, 2007 11:28pm
Quoting amazingbook2007
Pardon me ,

The reason for this request is that sometimes Sniper produced a potential trade signal whereby undetected by Fozzy, sometimes vice versa. So by doing this I hope to be alert of every potential trade signal by Sniper & Fozzy and at the same time be able to trace previous plot trigers for references and study.
thanks for share this indicator
may enrich this Fozzy System....
( just add & test this "Snipper" )
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