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Dollie's Safe Pips Indicator

  • #321
  • Edited 8:51am Jul 18, 2007 8:35am | Edited 8:51am
In line with my previous posts, the following.

I added my own version of longer term trend on the price action, notice on both the 5min and 1h chart price tend to move up when thick lime line is above thich red and visa versa.

I also added a line at 25 on the ADX, notice that when ADX, +DI and-DI are below this line the market is very flat or in a range.

On RSI I added a line at 50, read my previous post on this.

Notice that when both RSI and ADX plus +DI are above the added lines then probability of an long move is much higher. When RSI and is below the lines plus ADX and -DI above then probability of short move is great.

Remember that the ADX line itself is only an indication of the strength of the trend and not direction. The +DI and -DI give the direction.

Notice I have added a template in the previous post for this.

Regards
  • #322
  • Jul 18, 2007 9:17am Jul 18, 2007 9:17am
Quoting Silver
Hi PP2

I have a few questions: Why do you call it triple Hull? I thought Hull is a specific indicator. At least on other charting services it is.

On Dynamic zone: I think it is dangerous to look at osilators concerning overbought and oversold. The only time that can be remotely reliable is in a range bound market. In a trending market you will almost always burn your fingers. A much better setting will be a line at 50, that way if the RSI is above 50 the sentiment is long and if below 50 the sentiment is short.

ADX: A good idea is to look when the -DI, +DI and ADX lines are below 20, that normally is an indication that the market is ranging and not trending.

Keep up the good work.

Regards

Silver
Dear Silver: Thanks for your input. It is most welcome. First I didn't make or name the triple hull indicator, Dollie did. I wouldn't have a clue how to do it. You observations and suggestions on dynamic and adx are correct and a good addition. As I have stated I am just a student and put out there my observations on what I see. What I love about this forum is we can all share and figure this out together as I know I need help too. That's the best thing about forex is the helpfulness of everyone.
  • #323
  • Jul 18, 2007 9:20am Jul 18, 2007 9:20am
PP@

What name do you use on the 5min chat?
  • #324
  • Jul 18, 2007 10:12am Jul 18, 2007 10:12am
Quoting Silver
PP@

What name do you use on the 5min chat?
Silver if you mean phillip's 5 min I am no longer a part of that chat room. No offense to Phillip or anyone else there I just decided to focus solely on Dollie's system for the last few months. We all are searching for the system that seems to make sense for each of us and this so far makes sense to me. It's not for everyone and each simply needs to find the way to make money.
  • #325
  • Jul 18, 2007 12:35pm Jul 18, 2007 12:35pm
My trade yesterday on $J. I've opened the trade, and then went to bed. This morning I've closed half and put a 15pips trailing SL. Nett profit of 48pips.
Attached Image(s) (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #326
  • Jul 18, 2007 3:02pm Jul 18, 2007 3:02pm
Hi PP2

I was watching the $Y today and once again saw this setup. I wanted to enter but couldn't because of a power failure. I was about to enter where the green vertical line is:

Tripple: -----lines between blue and purple and going at nice angle
Dyna: Green crossed blue and on the way up
ADX: Blue crossed purple

Seems like all the indicators were in line for long setup. Am I correct. Busy studying the rules and your examples to get a feel for this system.

You don't really wait for a candle to close before entry?

That would have been my third positive trade in a row with Dollie on 30min. On the $Y and almost the same time of the day. Just an interesting observation.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #327
  • Jul 18, 2007 6:56pm Jul 18, 2007 6:56pm
[quote=Golfer;1499410]Hi PP2

I was watching the $Y today and once again saw this setup. I wanted to enter but couldn't because of a power failure. I was about to enter where the green vertical line is:



Seems like all the indicators were in line for long setup. Am I correct. Busy studying the rules and your examples to get a feel for this system.

You don't really wait for a candle to close before entry?

Golfer: You are correct with this setup. In my way of trading you don't have to wait for the candle to close, you know if it is right. One thing to watch for is the time of day. You are several hours in the US session as you know and there will probably not be that many pips on this pair at that time. Which is not a problem so watch the move, move your stop and take the pips.
  • #328
  • Jul 20, 2007 11:03am Jul 20, 2007 11:03am
My fourth positive trade in a row with this system. I was worreid about the Dyna and ADX not yet giving a good signal.

Usually I do use a 15pip SL and move it to BE as soon as possible (6-10pips move in the direction of the trade). After taken my first half I followed the price with 15pip trailing SL and I didn't really look at the indicators.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #329
  • Jul 24, 2007 11:23am Jul 24, 2007 11:23am
Just a quick trade yesterday late and there was no real movement in the market. The indicators looked to be in line but the entry was a bit late. +3pips profit but with an earlier entry it could have been 10pips or more.

Still to have a negative trade with this system - amazing and I don't really follow the rules. Just trying to all the indicators in line (almost) and get a feel for it (the reason why I trade in the quite times).
Attached Image (click to enlarge)
Click to Enlarge Name: 20070723 dollie eur$ trade 1.jpg Size: 89 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #330
  • Jul 24, 2007 2:05pm Jul 24, 2007 2:05pm
Wow, what a period of trading - 6 positive trades in a row.

This is today's trade. Once again, the Triplle was move up in line and the Dynamic's green line has crossed the blue upwards. It was just the ADX that was not in line - it crossed later but so late in the day I cannot let the profit runs.

I don't know if somebody is reading this thread anymore but just my small contribution.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #331
  • Jul 24, 2007 5:21pm Jul 24, 2007 5:21pm
Golfer and others: This thread is still alive. I review it several times a day looking for posts and ready to answer questions. I felt that I was taking over and don't want to do that. I assume that everyone is still practicing and learning the system. Golfer you are doing a great job. Don't worry that all the indicators don't line up because that is rare. Results are what matters. Keep posting and look forward to others with their results.
  • #332
  • Jul 24, 2007 6:21pm Jul 24, 2007 6:21pm
For what it is worth, I check in here almost every day and am really liking this method.

I have noticed that it looks as though the Triple hull is not giving a correct reading on the 1hr charts. Perhaps it's me but it goes against every other time frame.

kevin
  • #333
  • Jul 24, 2007 8:28pm Jul 24, 2007 8:28pm
[quote=kevinsw;1506406]For what it is worth, I check in here almost every day and am really liking this method.

I have noticed that it looks as though the Triple hull is not giving a correct reading on the 1hr charts. Perhaps it's me but it goes against every other time frame.

kevin[/quote

First thanks for checking in and helping us out. Not doubting what you said on the H1 but would love to see some charts. Here are a few from today although maybe not the best. Remember that I stated in the rules that the triple is an indicator that tells you a move is coming in the future, not right now. The bigger the time frame, the longer before the move hits. On the charts, the arrow on triple shows that a move is coming and it was 2 hours ahead of the move. Then you see the blue line drop, the dotted lines follow. The pink was not committed on this example. Next you see on the zerolag macd that the bars are realitively flat before the move; another good sign. Finally on the green in dynamic it tells you when to get in the trade. Unfortunately I was away from the computer at this time as it is not normally a good time to trade. But the later part of the US session lately has had some moves. Unbelievable 240 pips plus drop today. I'm still learning also.
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  • #334
  • Jul 25, 2007 3:20pm Jul 25, 2007 3:20pm
My trade today on Cable. The Tripple once again was coming from oversold with a good angle between blue and purple. Dynamic starting going up and ADX about to change to long. Result is 11pips profit (moved to 14pips and my TP was at 18pips). I do trade with a 15pips SL.

I'm still learning the trade setup and the reading of the indicators (not that easy!). At this stage I don't fully trust the indicators and that is why I enter almost too late. But I'm sure it will become beter.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #335
  • Jul 25, 2007 5:48pm Jul 25, 2007 5:48pm
Way to go Golfer! Look at the charts the move short before your move, as you say you still don't trust the indicators. Well we all have that challenge including me sometimes. The triple is looking great on the short with the pink line committed. Macd's are going smaller. The green line on dynamic is strong to the short side and crosses the blue line and the adx has the green line cutting between the blue and pink. That's a fantastic setup. Notice how the triple started moving short one candle before the move. You still did well with your trade. Let's see you go for 10 in a row!
  • #336
  • Edited 2:13am Jul 28, 2007 1:54am | Edited 2:13am
My trade on eurjpy yesterday - it was a Friday afternoon but the price was very lively. Difficult to trade.

I did enter (with 0.4 lots according to my money management schedule) after price crossed my R1 pivot line and Triplle was showing me the entry was almost too late. Zerolagg turned upwards the candle before so did the green line on Dynamic. ADX was about to cross but the green line was coming down towards 20 - not a good sign. But it was late on a Friday evening. Also a double bottom formed.

I did exit first half of trade (0.2 lots) after 14pips profit (nett 7pips) and I moved my SL 6pips above entry and it was tiggered later (nett 3pips). On the chart only my first exit is shown. Result is 10pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070727 dollie eurjpy trade 1.jpg Size: 88 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #337
  • Jul 28, 2007 2:11am Jul 28, 2007 2:11am
Just my comments on the previous setup - I know there aren't rules for this system but I am trying to put it on the table. For example the previous setup on EURJPY (the one before my actual trade):

What I would like to see on the Triplle is that the blue and pink line is in/near die oversold area (Point A) and coming out of it with a good angle. Pip P2 - that means a move up backwards is on the way, corrct? Look at my previous trade and see the pink line is very far away form the oversold area - risky trade?

Next I would like to see the green line touching/in the oversold area ("B") on Dynamic and then coming out of it. At "C" the green line crosses the blue line meaning it is time to enter.

The Zerolag bars is still below 0 but it is getting close and the ADX D+ and D- only cross at "D".

Just my thoughts on this system combining with the advice from Pip Pirate 2. Trying to work out a practical approach to this system. At this stage it is working during the late NY trading sessions.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070727 dollie eurjpy setup.jpg Size: 94 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #338
  • Jul 29, 2007 1:16am Jul 29, 2007 1:16am
Quoting Golfer
Just my comments on the previous setup - I know there aren't rules for this system but I am trying to put it on the table. For example the previous setup on EURJPY (the one before my actual trade):

What I would like to see on the Triplle is that the blue and pink line is in/near die oversold area (Point A) and coming out of it with a good angle. Pip P2 - that means a move up backwards is on the way, corrct? Look at my previous trade and see the pink line is very far away form the oversold area - risky trade?

Next I would like to see the green line touching/in the oversold area ("B") on Dynamic and then coming out of it. At "C" the green line crosses the blue line meaning it is time to enter.

The Zerolag bars is still below 0 but it is getting close and the ADX D+ and D- only cross at "D".

Just my thoughts on this system combining with the advice from Pip Pirate 2. Trying to work out a practical approach to this system. At this stage it is working during the late NY trading sessions.


I liked the second example that you have all the notes on and with letters A BC & D. You are correct on the triple (A)as it is telling you something could be coming and I like the look of the triple. Dynamic green (C) is also very good. Notice that the candle on the macd is very small at the same time as the dynamic cross. I am working on a theory about this as I like to see very small candles on macd signaling a move is coming. As I have stated ADX doesn't always give a signal. You have got it Golfer. Just know that your style and time of the day to trade ( I know that is the only time for you to trade) as you have shown is for about 10 pips or so of profit so I would be in front of the computer and take the 10 as they come. Can't get greedy. 9 in a row is great and thanks for posting.
  • #339
  • Jul 29, 2007 5:20am Jul 29, 2007 5:20am
Quoting pip pirate 2
I liked the second example that you have all the notes on and with letters A BC & D. You are correct on the triple (A)as it is telling you something could be coming and I like the look of the triple. Dynamic green (C) is also very good. Notice that the candle on the macd is very small at the same time as the dynamic cross. I am working on a theory about this as I like to see very small candles on macd signaling a move is coming. As I have stated ADX doesn't always give a signal. You have got it Golfer. Just know that your style and time of the day to trade ( I know that is the only time for you to trade) as you have shown is for about 10 pips or so of profit so I would be in front of the computer and take the 10 as they come. Can't get greedy. 9 in a row is great and thanks for posting.
Hi PP2

Thanks for the advice. Yes, I did some backtesting yesterday and I've realised that my trades will only give 10-20pips profit. And I am using a 15pips SL. Risk ratio is 1:1.

What I am trying to do is see if a dialy H or L was formed and then look for a re-tracement (counter trend (CT) trade) if a signal appears. Then I use the 5min chart to enter - not really taking Phillip's Nel 5min system's rule into consideration. But I do want to use the principles to enter the trade. I'll work on it this week and hopeful post it during the week.

We are also working on a 15min (I concentrate on divergence) system and if I can combine the three - the better.

Currently I am just following 4 pairs - EURU$, Cable, U$JPY and EURJPY.

I am not very keen on CT trades but it looks like with this system it might work.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #340
  • Jul 30, 2007 10:01am Jul 30, 2007 10:01am
I saw the 2 setups today on $JPY (details on chart) and EURJPY (zoomed in). I don't think they come better than this.

On Line A Triple is telling us a down movement is coming and the green line on the Dynamic as well as the lsma 3 on ADX is in the overbought area.

On Line B the green is coming out of the overbough area to cross the blue line and the Isma is turning red. The Triple is showing a good signal downwards and the ----lines are crossing the 0-line nicely between the blue and pink line.

I would have entered on the opening of candle 1 thereafter the Isma entered the area between DX- and DX+ at point D (I think that was one of Dollie's orginal suggestions).

At point 2 Triple is telling us a possible up move is coming and the same setup is visible on line "C". Enter on opening of candle 3 with Isma entering the area between DX- and DX+ at point "E".

The same setup can be seen on the EURJPY chart - I've just zoomed in on the chart.

I hope some of you got the trades - even if it is not according to my analysis.
Attached Image(s) (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
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