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Attachments: CPP Scalping Strategy
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CPP Scalping Strategy

  • #161
  • Jul 23, 2023 10:27am Jul 23, 2023 10:27am
Quoting carlosbdf
New version of EA ... Improvements suggested by Lazar83 {file}
So I have grandkids visiting/staying with my wife and I at the moment so this isn't the most focused testing. Just taking the defaults and putting it on a daily chart and running it against 6 years of data it does look promising. Best performance so far in this simplistic method is USDCHF.
  • #162
  • Jul 23, 2023 4:16pm Jul 23, 2023 4:16pm
GBPUSD looks good
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Its all just one persons opinion
  • #163
  • Edited 6:56pm Jul 23, 2023 4:44pm | Edited 6:56pm
Here's how I'm setting up my GBPUSD. Experimentally, I'm using the Trend Channels indicator on TradingView to determine H4, H1, M15 trend directions / support and resistance levels and then setting up my risk management around those levels instead of arbitrarily setting up 2:1 brackets. Similar to an EMA, Trend Channels merely just tells us what direction price wants to move on any timeframe giving the simplest of edges. I'm still risking more then I'm taking in this trade, but its definitely less. Essentially just adding top down analysis in conjunction to CPP levels

The dotted lines represent HTF trend channel line. This trade sets up nicely as you can see there's a trend line right around the cushion/entry level. So I'll use these in confluence to create a more optimal entry level. Same thing for the take profit, there's a trend channel line running horizontally about 14 pips down after our entry. I'll TP around this level instead of letting the trade run for 2:1. The SL level is also set around significant level.

While we don't want to corrupt the simplicity of this system, we do want to always tip the scale in our favor. The CPP gives us brilliant levels to play around and we should structure our trade accordingly. Blindly setting up 2:1 could be better in the long run, but it's essentially a bet against myself that my market analysis is better in the long run.

Here's why I like our odds on shorting GU. CPP traders have the advantage of setting up trades in their bias direction. After looking from top-down, I think it only makes sense to short this pair. From a very macro zoomed out perspective, market is pretty much moving sideways, with slight bearish direction. Our mid range bias is definitely bearish, and our short term bias is bullish. The short term trend(M15) is going to have to break the trend channel before price reaches CPP, acting as another indication price will move lower. It will also have to break the H1 trend line which acts as ANOTHER indication price will move lower. We have our TP set above a major level, which is important because once price interacts with a major level all bets are off and it can become a gamble which side will win imo. This is extra analysis on top of CPP that was done in 5 minutes. I'll continue to take trades like this, this week and monitor performance.
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Can't go broke making profit
  • #164
  • Jul 24, 2023 12:29am Jul 24, 2023 12:29am
[quote=FireScape;14508232]Here's how I'm setting up my GBPUSD. Experimentally, I'm using the Trend Channels indicator on TradingView to determine H4, H1, M15 trend directions / support and resistance levels and then setting up my risk management around those levels instead of arbitrarily setting up 2:1 brackets. Similar to an EMA, Trend Channels merely just tells us what direction price wants to move on any timeframe giving the simplest of edges. I'm still risking more then I'm taking in this trade, but its definitely less. Essentially just adding top down analysis in conjunction to CPP levels The dotted lines represent HTF trend channel line. This trade sets up nicely as you can see there's a trend line right around the cushion/entry level. So I'll use these in confluence to create a more optimal entry level. Same thing for the take profit, there's a trend channel line running horizontally about 14 pips down after our entry. I'll TP around this level instead of letting the trade run for 2:1. The SL level is also set around significant level. While we don't want to corrupt the simplicity of this system, we do want to always tip the scale in our favor. The CPP gives us brilliant levels to play around and we should structure our trade accordingly. Blindly setting up 2:1 could be better in the long run, but it's essentially a bet against myself that my market analysis is better in the long run. Here's why I like our odds on shorting GU. CPP traders have the advantage of setting up trades in their bias direction. After looking from top-down, I think it only makes sense to short this pair. From a very macro zoomed out perspective, market is pretty much moving sideways, with slight bearish direction. Our mid range bias is definitely bearish, and our short term bias is bullish. The short term trend(M15) is going to have to break the trend channel before price reaches CPP, acting as another indication price will move lower. It will also have to break the H1 trend line which acts as ANOTHER indication price will move lower. We have our TP set above a major level, which is important because once price interacts with a major level all bets are off and it can become a gamble which side will win imo. This is extra analysis on top of CPP that was done in 5 minutes. I'll continue to take trades like this, this week and monitor performance. {image} {image}[/quote

Hi
On tradingview what's the name of the camarilla indicator you are using?
  • #165
  • Jul 24, 2023 3:59am Jul 24, 2023 3:59am
}[/quote Hi On tradingview what's the name of the camarilla indicator you are using?[/quote]

pivot points standard, then choose camarilla and set to daily, not chart
Its all just one persons opinion
  • #166
  • Jul 24, 2023 3:59am Jul 24, 2023 3:59am
Quoting FireScape
Here's how I'm setting up my GBPUSD. Experimentally, I'm using the Trend Channels indicator on TradingView to determine H4, H1, M15 trend directions / support and resistance levels and then setting up my risk management around those levels instead of arbitrarily setting up 2:1 brackets. Similar to an EMA, Trend Channels merely just tells us what direction price wants to move on any timeframe giving the simplest of edges. I'm still risking more then I'm taking in this trade, but its definitely less. Essentially just adding top down analysis in conjunction...
And as I said price goes exactly where we thought. Bouncing off a major level instead of reaching our CPP level. If you didn’t do any analysis and blindly set 2:1 this trade would have failed.
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Can't go broke making profit
  • #167
  • Jul 24, 2023 4:04am Jul 24, 2023 4:04am
Quoting Merka
Quoting FireScape
Here's how I'm setting up my GBPUSD. Experimentally, I'm using the Trend Channels indicator on TradingView to determine H4, H1, M15 trend directions / support and resistance levels and then setting up my risk management around those levels instead of arbitrarily setting up 2:1 brackets. Similar to an EMA, Trend Channels merely just tells us what direction price wants to move on any timeframe giving the simplest of edges. I'm still risking more then I'm taking in this trade, but its definitely less. Essentially just adding
...
This is fine
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Can't go broke making profit
  • #168
  • Jul 24, 2023 8:37am Jul 24, 2023 8:37am
R3 to R4 scalp Dow Futures 15 Min TF
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  • #169
  • Jul 24, 2023 8:46am Jul 24, 2023 8:46am
Quoting FireScape
Here's how I'm setting up my GBPUSD. Experimentally, I'm using the Trend Channels indicator on TradingView to determine H4, H1, M15 trend directions / support and resistance levels and then setting up my risk management around those levels instead of arbitrarily setting up 2:1 brackets. Similar to an EMA, Trend Channels merely just tells us what direction price wants to move on any timeframe giving the simplest of edges. I'm still risking more then I'm taking in this trade, but its definitely less. Essentially just adding top down analysis in conjunction...
TMI

We know nothing, PA will do what PA will do, we just have to take probabilities into calculation. This will only come with backtesting ea. 10 more manual trades and then I may pay a developer to create one.
  • #170
  • Jul 24, 2023 9:00am Jul 24, 2023 9:00am
Quoting driven18
{quote} TMI We know nothing, PA will do what PA will do, we just have to take probabilities into calculation. This will only come with backtesting ea. 10 more manual trades and then I may pay a developer to create one.
Seems like it, but it’s really not. 3 htf confluences with basic analysis to help create more favorable entry and exit points. I’m not saying it’s better but it’s nothing to dismiss completely. As you can see it was definitely better on that recent GU trade.

CPP is doing the same thing, using algorithmic based analysis to create favorable areas to trade in. We can’t just say PA does what PA does, as this generic statement can invalidate every strategy created. PA analysis is what this system was created on
Can't go broke making profit
  • #171
  • Jul 24, 2023 9:08am Jul 24, 2023 9:08am
Quoting FireScape
{quote} Seems like it, but it’s really not. 3 htf confluences with basic analysis to help create more favorable entry and exit points. I’m not saying it’s better but it’s nothing to dismiss completely. As you can see it was definitely better on that recent GU trade. CPP is doing the same thing, using algorithmic based analysis to create favorable areas to trade in. We can’t just say PA does what PA does, as this generic statement can invalidate every strategy created. PA analysis is what this system was created on
I do not disagree. This techniques is already based, as is, on a very valid technique of expansion towards the previous S4, R4 levels. I consider that to be 1 indicator.
  • #172
  • Jul 24, 2023 9:10am Jul 24, 2023 9:10am
Quoting driven18
{quote} I do not disagree. This techniques is already based, as is, on a very valid technique of expansion towards the previous S4, R4 levels. I consider that to be 1 indicator. I have been trading live for 3 years, I am putting my today swing trade for display to sort of making a point. All based on backtesting 1,000 trades with my personal technique. I do use only one indicator(not shown here). Dow Futures 5 min. {image}
No worries brother, there’s multiple ways to use a system and we’re all trying to find the best way
Can't go broke making profit
  • #173
  • Jul 24, 2023 9:12am Jul 24, 2023 9:12am
Quoting FireScape
{quote} No worries brother, there’s multiple ways to use a system and we’re all trying to find the best way
i specifically am looking to add 1 more confluence to help aid the RR that’s it. I do not wish to over complicate
Can't go broke making profit
  • #174
  • Jul 24, 2023 2:59pm Jul 24, 2023 2:59pm
We have some nice pairs today, usdjpy in particular
Can't go broke making profit
  • #175
  • Jul 24, 2023 3:29pm Jul 24, 2023 3:29pm
Definitely looking for long. H4 and H1 are in uptrends, and M15 is in downtrend, wait for m15 trend break and CPP will handle the rest.

Showing short setup too

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Can't go broke making profit
  • #176
  • Edited 5:56pm Jul 24, 2023 5:20pm | Edited 5:56pm
Quoting FireScape
Definitely looking for long. H4 and H1 are in uptrends, and M15 is in downtrend, wait for m15 trend break and CPP will handle the rest. Showing short setup too {image}
It looks to me that USDJPY is a no GO. Rs and Ss outside of yesterday Camarilla with AMP Global broker
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  • #177
  • Jul 24, 2023 5:36pm Jul 24, 2023 5:36pm
Quoting driven18
{quote} It looks to me that USDJPY is a no GO. Rs and Ss outside of yesterday Camarilla {image}
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Can't go broke making profit
  • #178
  • Jul 24, 2023 5:54pm Jul 24, 2023 5:54pm
Quoting FireScape
{quote} {image}
Hmm..here is all good on FXChoice..a bit strange
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  • #179
  • Jul 24, 2023 6:04pm Jul 24, 2023 6:04pm
Quoting driven18
{quote} Hmm..here is all good on FXChoice..a bit strange {image}
levels drastically vary with different brokers i guess
Can't go broke making profit
  • #180
  • Jul 24, 2023 6:15pm Jul 24, 2023 6:15pm
Quoting FireScape
{quote} levels drastically vary with different brokers i guess
1 Hour TF USDJPY. I think Tuesday Camarilla receive these levels because it calculates Sunday as a full day. AMP Global(USA) count few hours on Sunday as a day. I circled Sundays on my chart. For these brokers you need Camarilla excluding Sundays.
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