Looks like a pretty uneventful evening.....
Hope everyone enjoys the long weekend.....see you guys on tuesday!
Pips
Hope everyone enjoys the long weekend.....see you guys on tuesday!
Pips
4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedCan you tell me everything that is setup as your SMA's, EMA's, Meaning of all your colors. I want to take a look at this one for the EURCHFIgnored
DislikedHi Ryan,
The chart you are refering to is not my usual setup, it was just part of some other ideas that I was trying out (research and development is a constant in any business). Attached is a chart of my usual setup. It is the basic MACD system as Phillip suggests with two additions that I find convienient to use. The first is the LRC (available as a standard feature in MT4). It shows me tops and bottoms of the price channel and is easy to update on an end of day basis. Breakouts from the channel often indicate trend changes in the works. I have also added the HMA (attached below) for two reasons: 1. It gives me a quick visual of current price direction and 2. It has an alert built in which I can turn on and off when needed. That way I do not have to be constantly glued to the monitor but know that I will not miss a particular move I am waiting for. Just my way of being lazy. The HMA is set at 8. Hope that helps.Ignored
DislikedHi Phillip,
I am very impressed with your method.
I have two questions to your last chart.
1) Could you please explain as why have you ignored the long signal from trade #2 in this case( and others similar) ?
It would be logical for me to close the short trade(#1) to reduce potential loss and open a new long trade (#2) in this case.
2) At which level and why you have closed trade #1 with 70 pips (I can not see any EMAs at this level) ?
Tia
RemIgnored
DislikedHi Ryan,
The chart you are refering to is not my usual setup, it was just part of some other ideas that I was trying out (research and development is a constant in any business). Attached is a chart of my usual setup. It is the basic MACD system as Phillip suggests with two additions that I find convienient to use. The first is the LRC (available as a standard feature in MT4). It shows me tops and bottoms of the price channel and is easy to update on an end of day basis. Breakouts from the channel often indicate trend changes in the works. I have also added the HMA (attached below) for two reasons: 1. It gives me a quick visual of current price direction and 2. It has an alert built in which I can turn on and off when needed. That way I do not have to be constantly glued to the monitor but know that I will not miss a particular move I am waiting for. Just my way of being lazy. The HMA is set at 8. Hope that helps.Ignored
DislikedHi,
I have just been looking at the HMA (thanks for providing it BTW), and it seems really good. Any idea of how it works and what the HMA stands for. Just intrigued really as seems really good!
I couldn't find thre LRC on meta trader. COuld you point me in the right directio as to where I can get it?
Again, thanks for the attachments and explinations
mIgnored
DislikedHMA I believe stands for Hull Moving Average, not too sure about the programing details or history of this indicator, perhaps someone else has some more knowledge and can provide extra details. As far as I can tell it is basically a colour changing moving average. This particular version has a built in alert which I find handy to turn on and off as needed.
The Linear Regression Channel can be found under Insert - Channels - Linear Regression. I usually begin to draw it at on obvious trend beginning and manually update it (weekly on the 4 hour, daily on the 1 hour). When a channel breakout occurs I start a new regression channel (leaving the old one in place for a while as often there is a retrace back to the breakout area or in the case of a failed breakout, price will return to within this channel) and then carry on from there. It is just a convenient way to identify important support and resistance areas. I often use the median line as a profit taking area especially if there is confluence with a trendline, Fib, etc(see the previous post on the recent USDJPY trade). On occassion I will use it as a trade entry area if MACD agrees but prefer trade setups at channel extremes. These are usually the higher probability trades.
Hope that Helps.Ignored
DislikedI downloaded your EA but when I tried to unzip it I got the error message that it is either corrupted or invalid.Ignored