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Golden-Cross Trading-Idea

  • #241
  • Jul 20, 2023 10:44am Jul 20, 2023 10:44am
Quoting Elme
Y...p.S: if we only take trades on the opposites of the Dochian Channel with the Trend aligned or a bounce in the middle i think we can make massive profits.
That's the way it is!

For this reason, one should not place fixed TPs and use a trailing stop when winning.
TrailingStop = 2xBarRange, selling 1/2 lots at 1 BR, and the rest at 2 BR.

If an opposing signal comes, close everything at the next bar. Areas are drawn as an aid for this.

The areas between entry and exit are not very long, so pyramiding is a bit more difficult to do. One wins enough with the simple procedure...
  • #242
  • Jul 20, 2023 10:44am Jul 20, 2023 10:44am
Quoting SwingMan
For trading you should use the "Triple Screen" method according to Elder.
The timeframes Upper, Current, Lower are:
M15-M5-M1
H1-M15-M5
H4-H1-M15
D1-H4-H1
W1-D1-H4
MN1-W1-D1
For those asking about my setup, I use the D1-H4-H1 and H4 is my main trading screen. Alerts are only set on D1 and H4 with H1 I do not need alert from it as it only serves as distraction for me. I also recommend anyone to turn off alerts on the lower TF as these are not your trading main screen. Create profile for your setup for your favorite pairs and that's it.

You could also use the color MTF on the indicator that shows the Higher TF.

Hope this helps someone

Regards

SmartKenya
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  • #243
  • Jul 20, 2023 10:59am Jul 20, 2023 10:59am
Quoting Elme
...Also the Lazy oscillator needs to be aligned with our entry correct?
No.
The histogram colors in oscillator are from another system and i haven't changed them anymore, maybe one can use them.
I think it's "Dave Landry's Swing Trading"(or another...).
  • #244
  • Jul 20, 2023 11:10am Jul 20, 2023 11:10am
OK so i think this might be a loss its floating at the middle of the Stop loss, i will let it run.

I will deactivate the alerts bcs we need to filter fake signals.

SmartKenya can you post your template? Seem less crowded

Also how do you saved inawy that everytime you open pair, it opens the 3 screens?

Thank you in advance
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  • #245
  • Jul 20, 2023 11:15am Jul 20, 2023 11:15am
Quoting SmartKenya
...I am still getting a grip of the whole system and am stuck with only 1 indicator the smGoldenCross Signal v4.7.1 with that only and what I understand about the market everything else is simple and as clear as the day...
That's good.

But try to use and interpret the indicators Signals_v4.10 and MTF_v4.0.

Version 4.7.1 draws the background at the end of the week.
Version 4.10 also does this within the week, and that's an advantage (these are the vertical arrows in the chart). You can also check if the programming is correct...

Actually, the interpretation of the crossings within the week (for D1) or within the day (for H4) is a bit more difficult, and I don't have a final interpretation of what would be correct.
  • #246
  • Jul 20, 2023 11:28am Jul 20, 2023 11:28am
Quoting Elme
SmartKenya can you post your template? Seem less crowded Also how do you saved inawy that everytime you open pair, it opens the 3 screens? Thank you in advance {image}
I have 3 TF of each pair that are my favorites.. Find Attached the TPL and Profile

Regards

SmartKenya
Attached File(s)
File Type: zip Profile + TPL.zip   1.3 MB | 525 downloads
  • #247
  • Jul 20, 2023 11:38am Jul 20, 2023 11:38am
Quoting SwingMan
{quote} That's good. But try to use and interpret the indicators Signals_v4.10 and MTF_v4.0. Version 4.7.1 draws the background at the end of the week. Version 4.10 also does this within the week, and that's an advantage (these are the vertical arrows in the chart). You can also check if the programming is correct... Actually, the interpretation of the crossings within the week (for D1) or within the day (for H4) is a bit more difficult, and I don't have a final interpretation of what would be correct.
Will setup on a different PC.

Regards

SmartKenya
  • #248
  • Jul 20, 2023 11:43am Jul 20, 2023 11:43am
Hello,

Can someone please link the indicators I am so confused with the charts, also please explain the rules for the system

Thanks for the help.
  • #249
  • Jul 20, 2023 11:52am Jul 20, 2023 11:52am
Some interesting fact, MT4 won't load 3 screens in the profile i made. Could it be it consumes a lot of memory? They are all packed with indicators.

If i was looking at Vix now i wouldn't made a buy, although the trend was saying Long / Long.

My question is, who times our entries better for less drawdown?
  • #250
  • Jul 20, 2023 11:59am Jul 20, 2023 11:59am
Quoting Outcast918
Hello, Can someone please link the indicators I am so confused with the charts, also please explain the rules for the system Thanks for the help.
The best thing is to read the entire thread, and even if it takes a little longer you'll understand what it's about (or not).

I think you didn't read anything at all because a few postings earlier I posted the indicators, also a template etc.

In this case I recommend you to look for a simpler system here in the forum. This system is actually not easy, and without investing time in studying alone, there is no point in having other members work for you.
  • #251
  • Jul 20, 2023 12:16pm Jul 20, 2023 12:16pm
Quoting Elme
Some interesting fact, MT4 won't load 3 screens in the profile i made. Could it be it consumes a lot of memory? They are all packed with indicators. If i was looking at Vix now i wouldn't made a buy, although the trend was saying Long / Long. My question is, who times our entries better for less drawdown?
I am using MT4 on Macbook Pro an older version yes it hangs sometimes but works without issues. It actually hangs when it reconnects. Running 5 pairs x3 2 indicators only..

But really if you doing a single pair just load the 3 important TF only..

Regards

SmartKenya
  • #252
  • Jul 20, 2023 12:24pm Jul 20, 2023 12:24pm
Quoting Elme
Some interesting fact, MT4 won't load 3 screens in the profile i made. Could it be it consumes a lot of memory? They are all packed with indicators. If i was looking at Vix now i wouldn't made a buy, although the trend was saying Long / Long. My question is, who times our entries better for less drawdown?
By the way who are you using as your Funded Broker?

TIA

SmartKenya
  • #253
  • Jul 20, 2023 1:11pm Jul 20, 2023 1:11pm
I bought a funded Account of 25K to test this method, in respect to Swingman.

It was the least i could do,if this method works ill have a funded 25k account to trade it.

I still have some questions regarding the method, the simple methodology would be to buy or sell near the extremes our bounces from the Middle point.

There is a small Arrow that appears in the chart...is this some valid entry point?

Also we are suppose the follow the entries on the big Arrows?

Ill give an example of my floating trade....

Gave me a Sell Arrow Signal on the H4, and is still giving me Buy alerts for cross.

I looked on the Daily and its clearly going for a cross UP
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  • #254
  • Jul 21, 2023 2:42am Jul 21, 2023 2:42am
Quoting SwingMan
{quote} That's good. But try to use and interpret the indicators Signals_v4.10 and MTF_v4.0.
Hey SwingMan,

Set and ready to go!! All seem good!!

Regards

SmartKenya
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  • #255
  • Edited 4:05am Jul 21, 2023 3:54am | Edited 4:05am
At this time my trade is still in Loss, i will let it run.

I was configuring my 3 screen setups without the EA and found this one, is this a legit sell?

I entered with a pending Sell stop on H4, seems a good reversal signal.
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  • #256
  • Jul 21, 2023 4:43am Jul 21, 2023 4:43am
Had 2 trades closed in green.
Long AJ
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Long EJ
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  • #257
  • Jul 21, 2023 7:34am Jul 21, 2023 7:34am
I have 2 trades floating in loss, if they both hit the stop loss ill stop and trade demo this system, wich indicates i am clearly not doing it proper way
  • #258
  • Edited 8:01am Jul 21, 2023 7:48am | Edited 8:01am
Quoting Elme
At this time my trade is still in Loss, i will let it run. I was configuring my 3 screen setups without the EA and found this one, is this a legit sell? I entered with a pending Sell stop on H4, seems a good reversal signal. {image}
Personally I would avoid the sell as D1 still is looking strong on the up move...

My best entries so far I found is when D1 is either on the trend already towards the direction you want or it is at the turning point...

But remember entering the market is the easiest getting out is where most fail....

Regards

SmartKenya

Quoting Elme
I have 2 trades floating in loss, if they both hit the stop loss ill stop and trade demo this system, wich indicates i am clearly not doing it proper way
Don't give up so easily my friend.

Ever heard of the 3 duck system? a quick overview...

Say we are doing the D1 (duck 1), H4 (duck 2), H1 (duck 3).

Duck 1 is your overall direction, Duck 2 is your trading signal, Duck 3 find your entry if not using Limits or Stops. All these ducks should be going in the same direction you do not want one especially Duck 1 running in the opposite direction.

With that in mind you can still skim part of the market with right entry when they are not all aligned but as the rule of this system try to watch the overall trend of your upper timeframe.

P.S. Always Demo any System and Strategy..

May the pips come to you!!

Regards

SmartKenya
  • #259
  • Jul 21, 2023 9:03am Jul 21, 2023 9:03am
Quoting swingman
in the literature one finds different variants for the golden-cross and death-cross, mostly as a crossing of a short with a long moving average. Here i present my own variant, namely the crossing of two lwmas (linear weighted ma) calculated with period 5 for open and close. The "smgoldencross trend" indicator plots the moving averages, or just the mean of the two moving averages. {image} an interesting and useful idea is to determine the future close values for which the crossing will take place. A buy stop or sell stop on this level can be considered....
i am using ema 5, 14 & 21 cross over for stong buy & sell.
Along with 50,100,200 for support & resistance.
This gives me great profit (from mobile trading)
  • #260
  • Jul 21, 2023 11:29am Jul 21, 2023 11:29am
Yeah 1% of the account lost, i want to see the method clearly before going live with it. I am probably doing it wrong. Can still Demo though
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