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Mika's Breakout strategy

  • #41
  • Jul 29, 2024 9:09pm Jul 29, 2024 9:09pm
NZD strong position and JPY weak position, i try Mika Breakout ^_^ , #Demo Account
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I know that the more I know, the more I don't know
  • #42
  • Jul 29, 2024 9:15pm Jul 29, 2024 9:15pm
Quoting RiskFighter
@ZOROX What about this - AUD have been stron for 15 minutes now and CHF was week for hours. But I find it ranging. {image}
if the color becomes sharper it indicates a very strong movement, lastly JPY News, the color reached maroon
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I know that the more I know, the more I don't know
  • #43
  • Jul 29, 2024 10:05pm Jul 29, 2024 10:05pm
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second try, profit ^_^
I'm closing because NZD M1 and M5 heatmaps are not in good condition even though JPY is still in weak condition, because this is scalping I don't want to wait long ^_^
I know that the more I know, the more I don't know
  • #44
  • Jul 29, 2024 10:26pm Jul 29, 2024 10:26pm
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audchf's third try, i try Mika Breakout ^_^, #Demo Account
I know that the more I know, the more I don't know
  • #45
  • Jul 30, 2024 12:41am Jul 30, 2024 12:41am
Quoting Zorox
{image} audchf's third try, i try Mika Breakout ^_^, #Demo Account
Thank you. Your posts are very interesting. I am not used to use currency strength in my trading - mainly because I am not scalping manually. My robots does the work.

But right now all the nice long trends has disappeared and my robots are a bit confused. Hense I must handpick trades for them. Like when I expect a signal within the next hour or two, then I set the robot to guard the conditions and take the trade.

This give me a fantastic opportunity to study manual scalping and maybe improve my robot.
MetaTrader 4 - so many advantages.
  • #46
  • Jul 30, 2024 12:53am Jul 30, 2024 12:53am
Quoting Zorox
{image} audchf's third try, i try Mika Breakout ^_^, #Demo Account
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audchf - reversal, aud is showing extreme weakness, looks like it is testing the price down, I will put SL on DailyOpenPrice. ^_^
I know that the more I know, the more I don't know
  • #47
  • Jul 30, 2024 12:54am Jul 30, 2024 12:54am
Quoting Zorox
{quote} if the color becomes sharper it indicates a very strong movement, lastly JPY News, the color reached maroon {image}
OK, thats is a good trick!
MetaTrader 4 - so many advantages.
  • #48
  • Jul 30, 2024 1:00am Jul 30, 2024 1:00am
I added MA distance and candle bar end, when I saw MA distance I saw audchf was in a downtrend for the main period, but for the small period it was in a sideways trend.

#
I'm studying manual trading, I'm looking for an interesting trading system. and I saw this thread using adx and I like it ^_^
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File Type: ex4 Zorox Orders v.1.3.ex4   611 KB | 161 downloads
I know that the more I know, the more I don't know
  • #49
  • Jul 30, 2024 2:09am Jul 30, 2024 2:09am
Quoting Zorox
{quote} if the color becomes sharper it indicates a very strong movement, lastly JPY News, the color reached maroon {image}
I was thinking.

  1. If there were two instances of the heat map - or if it was possible to push a button in order to switch between two colouring types. Then another function could be to colour each currency same colour. So in the case of a currency being in the upper area for all timeframes, that would be easy to spot.
  2. Another idea. Giving the currency a value according to its heat, and then make a sum that states the overall heat of the currency when the heat from all timeframes are summed.

Such a heatmap is a splended idea. I think I will try to make one. For a start I have all the ADX, CCI and RSI values in my robot allready. I could cook this together to one value for each timeframe. I also have the Williams Percentage Range, some MA's and other stuff allready in the robot. Interesting thought.

MetaTrader 4 - so many advantages.
  • #50
  • Jul 30, 2024 2:34am Jul 30, 2024 2:34am
@Zorox

I am not sure what those percentages are showing. But I think this is a very important place. Like now the NZDJPY is thee most interesting pair right now. And EURJPY, AUDJPY, CADJPY is some second choices if you want more than one trade. Am I right??
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MetaTrader 4 - so many advantages.
  • #51
  • Jul 30, 2024 9:42pm Jul 30, 2024 9:42pm
Quoting RiskFighter
@Zorox I am not sure what those percentages are showing. But I think this is a very important place. Like now the NZDJPY is thee most interesting pair right now. And EURJPY, AUDJPY, CADJPY is some second choices if you want more than one trade. Am I right?? {image}
when the dark blue color above or dark red below only shows the condition of the pair is already in a long flight, there are two possibilities extreme trend high power continues or goes to sideaway retest price. to find the best opportunity to predict the color will be dark or white again. this is where the art is. EA can not predict the price unless you put a lot of possible movements into it, but humans can do it with practice every day and that's what I'm doing ^_^ practice and practice
I know that the more I know, the more I don't know
  • #52
  • Jul 30, 2024 9:47pm Jul 30, 2024 9:47pm
I was late opening a trade because I just opened my laptop, but I still tried to practice the AUDCHF mica breakout ^_^, 4th practice #Demo Account
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Attached File(s)
File Type: ex4 Zorox Orders v.1.4.ex4   637 KB | 192 downloads
I know that the more I know, the more I don't know
  • #53
  • Jul 31, 2024 1:18am Jul 31, 2024 1:18am
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jpy is very scary today, I want to experiment the reason to buy because the heatmap jpy M1 is weakening and aud M1 is in the neutral zone, practice 5, ^_^
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  • #54
  • Jul 31, 2024 10:00pm Jul 31, 2024 10:00pm
I have added a filter to my charts.

10LWMA and 15EMA. On timeframes M5 to H4.

I only take trades when the filter shows same direction on all the timeframes.

The filter is coded into my robot. When I get time, I will make it as an indicator for people to use.

If you cannot wait, then I am sure that there are plenty of those indicators on FF.
MetaTrader 4 - so many advantages.
  • #55
  • Aug 1, 2024 5:23am Aug 1, 2024 5:23am
Quoting Zorox
{image} jpy is very scary today, I want to experiment the reason to buy because the heatmap jpy M1 is weakening and aud M1 is in the neutral zone, practice 5, ^_^ {image}
Dear Zorox sir,
I would like to close this level how to do??
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  • #56
  • Aug 1, 2024 11:03pm Aug 1, 2024 11:03pm
Quoting RiskFighter
{quote} Hey, you are a goldmine friend. I will look at it in a moment. I have news also. I have played with the Currency meter from Jamie - see post 11. My take is not to trade the crosses, but the pairs with the 2 most trending and the 2 least trending currencies at the moment for the trading. I use M15. This way you a trading the most trending pairs at the moment. Be aware of the direction of the lines though. I Have turned to use only the MIKA system for scalping. And that is really something, because I have loads of robots that fits my own system....
Tradeable pairs today as per this, IMO: CADJPY, USDJPY, AUDUSD, AUDCAD (short). Would you agree RiskFighter?
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  • #57
  • Aug 1, 2024 11:28pm Aug 1, 2024 11:28pm
Quoting BfromG
{quote} Tradeable pairs today as per tIhis, IMO: CADJPY, USDJPY, AUDUSD, AUDCAD (short). Would you agree RiskFighter? {image}
I would say AUDCHF & AUDJPY?

JPY and CHF is strong and going up. AUD is weak.

CAD is doing absolutely nothing. No help there.
MetaTrader 4 - so many advantages.
  • #58
  • Aug 1, 2024 11:38pm Aug 1, 2024 11:38pm
Quoting RiskFighter
{quote} I would say AUDCHF & AUDJPY? JPY and CHF is strong and going up. AUD is weak. CAD is doing absolutely nothing. No help there.
Thanks for the answer. When you said "but the pairs with the 2 most trending and the 2 least trending currencies at the moment for the trading" I understood you meant 2 most trending currencies (either direction) and 2 "almost" flat currencies.
  • #59
  • Aug 2, 2024 4:03am Aug 2, 2024 4:03am
Quoting BfromG
{quote} Thanks for the answer. When you said "but the pairs with the 2 most trending and the 2 least trending currencies at the moment for the trading" I understood you meant 2 most trending currencies (either direction) and 2 "almost" flat currencies.
OK, That explains it.

No, my take is to take the most strong (not trending) currency up against the most weak currency. There you will get the largest amount of pips. Then if there are two very strong and one weak, then you have more possible trades.

Then I also look for currencies that were weak but are moving in the high direction on a steep curve - or visa versa. So the direction and the steepnes of the curves are important also.

But remember this indicator shows the strength of the currency, not the trend. So a very strong and pointing UPwards JPY in the pair CADJPY will result in a down trend.
MetaTrader 4 - so many advantages.
  • #60
  • Aug 2, 2024 4:24am Aug 2, 2024 4:24am
This thread is about the MIKA strategy. But I just got an idea. I like batch trading. A batch can be in the size of anything from 2 to whatever number of pairs. A number of those pairs will be kind of syncrone.

Now I got an idea. Why not use different strategies on one screen. Say if you had 6 pairs on the screen, then MIKA indicators could be present on 2 charts. Some MACross strategy on 2 others and maybe some Bollinger on the last 2. That makes trading a little less borring and over time you will find out what works the best.

And there are difference on strategies. The MA strategy that I normally use, gives fewer trades, but with a tighter stoploss. My MIKA strategy gives more trades, but my stoploss - the way I do it, often consist of more pips and that gives smaller profit per trade.

So just for the fun of it, I will have 3 or 4 strategies on my charts for the coming weeks.
MetaTrader 4 - so many advantages.
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