Finding the trend | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a trend trader or a counter-trend trader? 29 replies

Weekly Trend finding 7 replies

Ichi Trend & RSI Trend Catch 4 replies

Automatic Trend line, trend channel, support, resistance detection 3 replies

"Trend" , how do you actually trace the current trend ? 23 replies

Attachments: Finding the trend
Exit Attachments

Finding the trend

  • #61
  • Jul 9, 2024 1:29am Jul 9, 2024 1:29am
Quoting OAPDave
{quote} The Question is Would you or your Robot have Taken them ? I Trade mostly the Trend But Monday and Thursday I play Walking Football so no I did not With The Range at 138 and seeing 100% of a average ADR would you not Bank something if not all Look at the chart Do you see O H L and Daily Range marked Do you think that's very useful info ps Just backing you up with your idea of Trading with the Trend Trading against the Trend is another Topic ( but yes I do at times ) ps I am in the Uk hence do not turn up for work until just before 8am l {image}...
Jep, my robot would have had a nice day. But I am not trading M5, so M15 is attached too.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 40 KB
Click to Enlarge Name: screenshot.png Size: 40 KB
MetaTrader 4 - so many advantages.
  • #62
  • Jul 9, 2024 3:33am Jul 9, 2024 3:33am
My dream is to trade from Excel only. According to the motto: enough is enough.
The problem of different wavelengths could be compensated via hedge and correlation.
My research result so far is = -0 or better = -50, because I don't yet know what I don't know.

Interesting thread, thx RiskFighter
  • #63
  • Jul 9, 2024 8:30am Jul 9, 2024 8:30am
Quoting RiskFighter
The GRAIL is not the best trading system, strategy or robot. The grail is the crystal ball. If you know at beginning of the day which instruments will be trending the most, then any strategy WILL make you money. I have this overview: On each chart I put on the Williams Percentage Range indicator (WPR). It is in the MT4 Oscillator folder. I set the parameter to 150. This is not suitable for trading signals, but I want the overall picture. The indicator goes to a sub window. I make that subwindow size to fill the whole chart. Then I have the template....
Thanks, this is interesting. What do OBOS and OSOB mean?
  • #64
  • Jul 9, 2024 8:49am Jul 9, 2024 8:49am
Quoting bluepanido
{quote} Thanks, this is interesting. What do OBOS and OSOB mean?
OB = OverBought
OS = OverSold
MetaTrader 4 - so many advantages.
  • #65
  • Jul 9, 2024 12:26pm Jul 9, 2024 12:26pm
Quoting chenxee
hi RiskFighter, thanks for sharing. i agree with you in terms of some viewpoints, for example i believe trend is likely to continue rather than reverse. and i think in 80-90% time we should stay out of the market, only enter when there's a good opportunity, no matter it's from technical analysis or fundamentals, or astrology. because i'm not good at price action so i use some indicators help me figure out what's going on. what indicators to be used is not important, as long as they can reflect longterm, midterm or instant market moves, any kind...
chart looks great! Where can I find these indicators? Would love to test it out
  • #66
  • Jul 9, 2024 8:22pm Jul 9, 2024 8:22pm
Quoting RiskFighter
{quote} OB = OverBought OS = OverSold
In theory, when the price enters overbought, there will likely be a reversal or pullback soon, but sometimes when using indicators such as RSI, the level is already showing overbought but the price is continuing the trend, how to respond to conditions like this? Should I use additional indicators or look more at price reaction patterns?
I trade at FXOpen
  • #67
  • Jul 9, 2024 11:32pm Jul 9, 2024 11:32pm
Quoting fxtimur
{quote} In theory, when the price enters overbought, there will likely be a reversal or pullback soon, but sometimes when using indicators such as RSI, the level is already showing overbought but the price is continuing the trend, how to respond to conditions like this? Should I use additional indicators or look more at price reaction patterns?
OB and OS are indicators originating from trading stocks. You have to be very aware of which indicator, timeframe etc. you are using them in when trading Forex.

I use them as a sign to show that trend is continuing. How that? I set the look back parameter to a very high number, that is averaging out all small changes and often it will keep the value in a OB or OS mode, which means that the pair is either trending or ranging. Hmm - both possibilities. Well at least you have then filtered away the pairs that are in an undecission mode, lying between the boundaries.

But when it is either ranging or trending when OB or OS, then you need to go into the chart and decide if it is trending and from there put on your own strategy.

One trick is to watch the very tip of the WPR. If it is going right into the air or to the ground, then there is a trending pair.

Read post #37 again.
MetaTrader 4 - so many advantages.
  • #68
  • Edited 6:51am Jul 10, 2024 12:35am | Edited 6:51am
I often get PM's from people that have a good strategy making them money and they suggest making a robot. And I will happily make a robot if someone has a fine strategy. But it require some work, which people does not know. Therefore I will from now on write this post on all my threads.

I need these things in order to program a strategy:

  1. A written strategy on paper. All indicators, settings etc. When to enter and when to exit. Everything very precise.
  2. Either some months of paper back test with results in an Excel sheet or forward test also with an Excel sheet. The testing is vital to show that the strategy is profitabel and to test that the robot and the strategy are working precisely together.
  3. Be aware, that a robot will trade each and every setup it is programmed to do. It will never skip and jump to the next setup.
  4. A robot should not be trading 24/7. A HTF analysis or something else should tell when to start the robot. This is where it gets hard to test a strategy.

A robot cannot think. It is a set of algorithmes and it does excactly what it has been programmed to do. So if you have a fine written strategy, then try to follow it 100%. If you occationly chicken out because you are suspicious about some wicks or other things, then you are not following the strategy and the robot will fail.

Also think about a robot running 24/7. It never gets tired. That is a good thing. But if you trade at specific times and specific days, then the robot will fail, if it is not set to do exactly that. Are you not trading when there is red news? Did you tell the robot that? To be honest, all atempts to make the robots that people suggest has failed until now, because thay were not following their strategy 100% themself.

So making a robot is quit a piece of work. Also for me. And I can of cause not start my work before I see some proof that it is worth it. But if you have this proof - hell let's do it right away

Also think like this: If you make the precise papertest either back or forward, then you have something that tells you, if this will be able to make you a passive income in the future by using a robot. Why not do it?

The Excell log must tell:

  1. Exact time of enter and exit a trade.
  2. Pips taken - negative or positive.
  3. Any circumstances worth of noting. Any idea to improvements.


This text will be my post#2 in all future threads.

MetaTrader 4 - so many advantages.
  • #69
  • Jul 10, 2024 3:21am Jul 10, 2024 3:21am
Quoting RiskFighter
The GRAIL is not the best trading system, strategy or robot. The grail is the crystal ball. If you know at beginning of the day which instruments will be trending the most, then any strategy WILL make you money. I have this overview: On each chart I put on the Williams Percentage Range indicator (WPR). It is in the MT4 Oscillator folder. I set the parameter to 150. This is not suitable for trading signals, but I want the overall picture. The indicator goes to a sub window. I make that subwindow size to fill the whole chart. Then I have the template....
In your first post you said "Easy! I use WPR but you can use anything you like, just keep it simple."
Is the RSI as valid as the WPR? If so, here is a very quick and easy RSI dashboard. You can set the period for the RSI, the time frames, and choose your pairs. This example here is using the default 14 period, but you can see how the dashboard works. You can make it change colour above or below a specific value.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
Attached File(s)
File Type: ex4 Dashboard_Multi RSI.ex4   35 KB | 258 downloads
  • #70
  • Jul 10, 2024 3:29am Jul 10, 2024 3:29am
Quoting bluepanido
{quote} In your first post you said "Easy! I use WPR but you can use anything you like, just keep it simple." Is the RSI as valid as the WPR? If so, here is a very quick and easy RSI dashboard. You can set the period for the RSI, the time frames, and choose your pairs. This example here is using the default 14 period, but you can see how the dashboard works. {image} {file}
Splended. It is absolutely useable.

I still stick with my WPR chart, because:

  1. It shows not only the value - it also shows the development. How lang has it been trending!! Or is it in a steep trend right now.
  2. I can easily change timeframe on all 28 pairs in one handling. Takes 3 seconds. And then I again have the visual picture. This way it is easy to make a top down analysis.

When I chose my daily pairs for trading. I begin at the daily WPR overview. There are 28 pairs on the screen. I close the pairs that does not look right. The I have a lot of pairs left for the next test. I shift to H4 timeframe. Close down the charts that does not fit my needs. Now I typically have around 10 pairs on the screen. I open them all to make an analyse to see if they fit my needs. I close a couple and then I put robots on the rest.

But you could do the same with RSI. I will show you in a minute.

MetaTrader 4 - so many advantages.
  • #71
  • Jul 10, 2024 3:36am Jul 10, 2024 3:36am
Quoting RiskFighter
{quote} Splended. It is absolutely useable. I still stick with my WPR chart, because: It shows not only the value - it also shows the development. How lang has it been trending!! Or is it in a steep trend right now. I can easily change timeframe on all 28 pairs in one handling. Takes 3 seconds. And then I again have the visual picture. This way it is easy to make a top down analysis. When I chose my daily pairs for trading. I begin at the daily WPR overview. There are 28 pairs on the screen. I close the pairs that does not look right. The I have...
It does not work as well with RSI. It is more fluctuating. I think WPR is better.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 34 KB
Click to Enlarge Name: screenshot.png Size: 36 KB
MetaTrader 4 - so many advantages.
  • #72
  • Jul 10, 2024 3:39am Jul 10, 2024 3:39am
Quoting bluepanido
{quote} In your first post you said "Easy! I use WPR but you can use anything you like, just keep it simple." Is the RSI as valid as the WPR? If so, here is a very quick and easy RSI dashboard. You can set the period for the RSI, the time frames, and choose your pairs. This example here is using the default 14 period, but you can see how the dashboard works. You can make it change colour above or below a specific value. {image} {file}
In the matter fact I think, that the table you provided is perfect to use together with my WPR for the total analysis.

Thank you for this.
MetaTrader 4 - so many advantages.
  • #73
  • Jul 10, 2024 10:30am Jul 10, 2024 10:30am
Quoting RiskFighter
{quote} It does not work as well with RSI. It is more fluctuating. I think WPR is better. {image} {image}
If you put the RSI to 150 setting than they behave almost equaly
  • #74
  • Jul 10, 2024 11:11am Jul 10, 2024 11:11am
Quoting OAPDave
{quote} My Friend I am afraid that is all well above my pay grade {image} {image}
@Dave
Do you trade long on lower TF only when your daily candles are above the MAs or you have extra confluences?
What about when daily is still showing uptrend but price is showing LLs (can be a pullback or the start of the new downtrend).
  • #75
  • Jul 10, 2024 12:16pm Jul 10, 2024 12:16pm
Quoting OAPDave
{quote} Hi Merka Hope this goes someway to answering your question If not just ask again and I will do my best {image} {image}
Thanks
we have almost similar approach
  • #76
  • Jul 10, 2024 10:29pm Jul 10, 2024 10:29pm
These are the pairs that survived my first harvesting for trading today. I am in 5 trades allready, so I think I will find only 2 or 3 pairs to trade today. So there will be some further study to do.

Take a look at the JPY pairs. Thay are just so nicely trending. It must come to an end some time soon. But for the time being, JPY is really good for trend trading.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 34 KB
Click to Enlarge Name: screenshot.png Size: 58 KB
MetaTrader 4 - so many advantages.
  • #77
  • Jul 11, 2024 1:37am Jul 11, 2024 1:37am
Trying my EA
Attached File(s)
File Type: ex4 FTMO_DCA.ex4   137 KB | 200 downloads
  • #78
  • Jul 11, 2024 1:45am Jul 11, 2024 1:45am
Quoting OAPDave
{quote} Screenshot first please
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (8).png Size: 72 KB
  • #79
  • Jul 11, 2024 2:33am Jul 11, 2024 2:33am
Guys. Linhngoc has put this exactly post with same worth and same EA on 10 different threads this morning.

You know an EA can have dangerous content to your PC. I would be carefull about downloading this EA.

And he has never done anything else on FF. This is very suspecious.
MetaTrader 4 - so many advantages.
  • #80
  • Edited 5:52am Jul 11, 2024 4:02am | Edited 5:52am
Quoting OAPDave
{quote} Looked at the screenshot Not my style So no interest No download ps In saying that My posts do not seem to interest any guys so I will delete them Sadly seems very little interest in the thread for some strange reason
I enjoy reading your inputs. But my focus is a bit different. You could say that I am badge trading, not focusing on one pair. I use a strategy which I explained in one of my other threads. But I am getting a bit more clever each time someone are making a post for me to read.

I closed 6 ongoing trades this morning. Now waiting for new signals.

You are right, that there are not many traders communicating here. I am used to that. If you go out one night to have some fun, then you chose a place where way too many people are gathered to have your beers. It is the same on FF. People goes where the other people are. Quit a shame I think.

On the other hand - people are here, but they are not sharing. Look at my post #1. There is 100 downlods right now. 11 traders are viewing the thread right now. Only a couple of people are sharing their thoughts. That is how it is.

I will continue to share using threads for yet a while. I am not sure how long I will go on. But I cannot help focusing on trading. I use at least 10 hours every day behind the trading screen. That will continue for the rest of my life.
MetaTrader 4 - so many advantages.
0 traders viewing now