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Golden-Cross Trading-Idea

  • #261
  • Jul 21, 2023 11:59am Jul 21, 2023 11:59am
Variant to test for "smGoldenCross TrendMTF_4.0"

I found that the color changes for the MTF indicator within the upper timeframe are difficult to interpret.

- If you want to test and comment on a possible variant, you should set the inputs:
"BackgroundColor_Long and BackgroundColor_Short" to "None".

- At the same time, one should use the indicator
"smGoldenCross Signals_v4.7.1" instead of "...v4.10".

If one finds this variant easier to interpret, I can program two new indicators.

- In "Properties" click on "Show object descriptions" to see the text for the help lines.
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  • #262
  • Jul 21, 2023 6:06pm Jul 21, 2023 6:06pm
Swing man sir,can you make a retracement and pullback arrow with the rules mentioned below? thanks
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  • #263
  • Jul 22, 2023 2:37am Jul 22, 2023 2:37am
Quoting T4Trade
Swing man sir,can you make a retracement and pullback arrow with the rules mentioned below?
Thanks for the idea, because it's good for pyramiding, as well as a few other candlestick patterns.
But for me it is too early to add additional arrows to the GC charts now.

Also one can consider them at any bounce from the Donchian-Channels when a GC-Signal is present.
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  • #264
  • Jul 26, 2023 12:58am Jul 26, 2023 12:58am
Quoting SwingMan
{quote} I am very curious if someone can formulate why this border zone is critical for programming signals...
Hey SwingMan,

These border zones the Yellow and Blue are important for visual and confirmation purposes.

If trading H4 which is what I always advocate for the zones will show what D1 is and has been doing in terms of trend and as for the programming signal maybe just maybe indicate the direction of the higher TF for those who sometimes fail to see the colors as it acts as a guide.

Sometime I ignore the higher TF colors depending on what I see from my triple screen for the important TF D1,H4 and H1 but this should only be fore seasoned traders or those who understand Price Action and SR zones.

Best is of this system is to keep it simple and not overthink.

Regards

SmartKenya
  • #265
  • Jul 26, 2023 8:36am Jul 26, 2023 8:36am
Quoting SmartKenya
...Hey SwingMan, These border zones the Yellow and Blue are important for visual and confirmation purposes. If trading H4 which is what I always advocate for the zones will show what D1 is and has been doing in terms of trend and as for the programming signal maybe just maybe indicate the direction of the higher TF for those who sometimes fail to see the colors as it acts as a guide. Sometime I ignore the higher TF colors depending on what I see from my triple screen for the important TF D1,H4 and H1 but this should only be fore seasoned traders...
It's good to read my older posts because sometimes I say interesting things...

The Upper TimeFrames should be considered dual!
- In an established long trend on D1, counter trades can be taken in the short direction when prices bounce off the upper Donchian-Channel. The chances that resistance levels have been reached are high.
- In the middle of the channel one should of course make long trades.

- This duality of chances makes me think that one should make a ranking of the Donchian-Channel width, because one actually has more room for successful trades with wider channels.
  • #266
  • Edited 9:15am Jul 26, 2023 8:54am | Edited 9:15am
Quoting SmartKenya
I am very curious if someone can formulate why this border zone is critical for programming signals...
This is actually a problem for smart guys who also think for a system, not just use it!

The MTF indicator changes colors when prices cross the forecasted close on D1, and that close is at the end of the day!
However, the crossing can also take place within the day, even several times, and that brings a little confusion of colors.

If anyone has an opinion at all, I will adjust the colors in the indicators. However, the signals, arrows and calculated levels in the MTF indicator remain unchanged.
Further, in a future EA, one must determine how to interpret these signals.
  • #267
  • Jul 26, 2023 9:47am Jul 26, 2023 9:47am
I checked, this indicator is repainted
  • #268
  • Jul 26, 2023 1:26pm Jul 26, 2023 1:26pm
Quoting Tuatuanlq
I checked, this indicator is repainted
Of course, it does, but try and understand the method that Swingman is setting out here, before you try and understand the indicator and branding it as repainting. There are six 4-hour bars in a day, and you are looking for an anticipated crossover of the 4 hourly LWMA with reference to the Daily 5LWMA crossover. The market is volatile and doesn’t always move in one direction, as I’m sure you are aware, so you will have a signal that disappear (What you call repainting) as soon as the market move in the opposite direction, this normally happens when the market is consolidating / ranging or data is released. Bottom line, get to the point where you understand the method, you won’t regret it. The “repainting” you referring to is exactly what Swingman is addressing in post #266, solve this conundrum and you will be well on your way.

@Swingman the best I’ve been able to come up with so far is, when you get “repainting”, I would rather call it zig-zagging, because you get a long signal, that reverses become a short signal and then reverses back to long, (it can continue for longer than 3 reversals) or vice versa, is to look for sideways movement by using the slope indicator you’ve posted, and then leave that pair alone until there is a confirmed crossover (Not anticipated cross) of the 5LWMA on the daily chart, that normally gives you a new trend indication. I understand this is not something you can put into an EA but requires one to be in front of your charts. So to summarize, as soon as I get a 2 losses in a row, one short, one long or vice versa , I leave the pair alone if I see consolidation on the Slope Indicator ,and wait for a confirmed crossover on the Daily 5LWMA. This will obviously leave you with a 2% loss, but no more. The third trade can obviously go in your direction and wipe out the loss, but it can also compound the loss. I don't have enough stats as yet to see whether this approach is feasible or not. Time will tell.
  • #269
  • Jul 26, 2023 1:42pm Jul 26, 2023 1:42pm
Quoting SwingMan
{quote} This is actually a problem for smart guys who also think for a system, not just use it! The MTF indicator changes colors when prices cross the forecasted close on D1, and that close is at the end of the day! However, the crossing can also take place within the day, even several times, and that brings a little confusion of colors. If anyone has an opinion at all, I will adjust the colors in the indicators. However, the signals, arrows and calculated levels in the MTF indicator remain unchanged. Further, in a future EA, one must determine...
When I used to code I fell into the same issues especially when talking about MTF indicators. I would rather have a signal at the close of the D1 candle which gives more room to focus on the pair you are watching..

The changing of colors is inevitable if the indicator works with tick but with close atleast you will get changes at the close of the candle.

I like your way of thinking and the little nitty gritty of your thought processing you give here. One just need to go back and reread connect and understand!

Regards

SmartKenya
  • #270
  • Jul 26, 2023 4:56pm Jul 26, 2023 4:56pm
@Dzt and @SmartKenya,
I am very pleased that at least two members understood and can interpret the idea of the GoldenCross.
Even if I have no problem explaining the details of this idea, like a preacher in the desert:

Attached Image (click to enlarge)
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I have more youthful enthusiasm to continue programming what is necessary!
Congratulations!
  • #271
  • Edited 11:25am Jul 31, 2023 9:28am | Edited 11:25am
Hey friends,

Just here to give you updates.

For those trying GC on lower timeframes make sure you do not let your trades roll over to the next day. Make sure your stops are tight, the market has been quite unpredictable and we have been having serious spikes all around.. Suddenly FX almost feels like crypto.

Try to use Buy/Sell Stops and Limits if you can, avoid Market Orders your life will be better.

Sometimes you might feel your trading TF is late with the signal ... That's why we are adviced to use the 3 TF with the mid TF being your trading TF Upper is confirmation of overall trend lower use it to find entries.

I have been having successful small Profits and can confidently confirm the system works if only you stop over-complicating things.

If you can just watch the smGoldenCross Signal indicator and remove everything else.

Just use that for a week or two you will easily realize a pattern. Once you get the hang of it add the recommended indicators available here and stand its correlation with Signal Indicator and how to use them in your favor.

For those trading Higher TF.. H4 and above congratulations are in order. Make sure your SL is in your favor and give you space to hold your trades.

Watch Price Action as always.

Remember: It is very easy to enter a trade.... Getting out is where many traders fail..

Regards

SmartKenya
  • #272
  • Aug 7, 2023 5:48pm Aug 7, 2023 5:48pm
HI Swingman,

Could you please share source file for the smGoldenCross Slope_v2.1.
Thanks in advance.


Quoting SwingMan
{quote} I know. Use this versions: {file} also: {file}
  • #273
  • Edited 8:11am Aug 8, 2023 2:07am | Edited 8:11am
Quoting SmartKenya
For those trading Higher TF.. H4 and above congratulations are in order. Make sure your SL is in your favor and give you space to hold your trades. Watch Price Action as always. Remember: It is very easy to enter a trade.... Getting out is where many traders fail..
Hell Friends,

On the 3rd of August 2023 at 22:09 on OANDA I took a LONG Position (2.09277) using BUY LIMIT as I was slightly late for the trade but knew the price will come back to me which it did.

Here is the chart

Reason I took the trade even if the market still was in consolidation the Previous HAMMER CANDLE on H4 showed alot of strength from the buyers and D1,W1,MN1 are all screaming LONG, the overall trend is BULLISH.

With that in mind I was not worried even when the market went against me (2.08361) as I had mentioned above Higher TF gives you confidence which is what you need as a trader.

I had my SL at the lowest of this consolidation channel (2.03256) and the channel has now been broken and the price is BULLISH.

Remember I mentioned to enter the trade is quite easy. Learn MM to know when to get out.

Regards SmartKenya
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  • #274
  • Aug 14, 2023 2:54am Aug 14, 2023 2:54am
Thoughts?
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  • #275
  • Aug 14, 2023 7:12am Aug 14, 2023 7:12am
Quoting SmartKenya
Thoughts?
OK, did you take the trade on H1?
  • #276
  • Aug 14, 2023 9:57am Aug 14, 2023 9:57am
Quoting SwingMan
{quote} OK, did you take the trade on H1?
No. I didn't feel the market had the strength
  • #277
  • Sep 29, 2023 4:16am Sep 29, 2023 4:16am
Hello dear SwingMan!
I wanted to ask you to add an alert with a notification for this indicator, the alert is needed for the arrows. If you don’t have time for this, then be so kind as to share the source code so that I can add these functions myself. Thank you!
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 smGoldenCross Slope_v2.1.ex4   20 KB | 338 downloads
  • #278
  • Sep 29, 2023 7:46am Sep 29, 2023 7:46am
Quoting wens
Hello dear SwingMan! I wanted to ask you to add an alert with a notification for this indicator, the alert is needed for the arrows. If you don’t have time for this, then be so kind as to share the source code so that I can add these functions myself. Thank you!
It would be nice to have a minimum of feedback, otherwise #Post 77 applies.

(You probably used the indicator somehow, otherwise you don't need alerts.)
  • #279
  • Sep 29, 2023 10:07am Sep 29, 2023 10:07am
Quoting SwingMan
{quote} It would be nice to have a minimum of feedback, otherwise #Post 77 applies. (You probably used the indicator somehow, otherwise you don't need alerts.)
Dear Swingman! I would like to use your indicator for binary options as a filter for this I need an alert!
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  • #280
  • Sep 29, 2023 3:54pm Sep 29, 2023 3:54pm
Quoting wens
...Dear Swingman! I would like to use your indicator for binary options as a filter for this I need an alert!
Here you have the source code!

The arrows in the chart correspond to the indicator?
Attached File(s)
File Type: mq4 smGoldenCross Slope_v2.1.mq4   12 KB | 743 downloads
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