Trend Follower 5 Minute System

Hi Pmurfin
Hope you dont mind me jumping in on this but an Alert which operated on those rules would be of much greater help than an EA at this time. I know their is already one on this thread but it does seem over complicated whereas an Alert which was only triggered by these rules would be just fab.
Kind regards
Geoff

Hi,

Based on the trend follower, I saw quite a number of entry opportunity for cable and eur yesterday. Though the profit is not high but still profitable if you are careful.

Regards

Hi All

Ok nearly there with the EA a few last little tweaks and some testing ... sorry for the delay I have a new baby at home so it can be difficult to get time at the keyboard right now. Anyway a few questions for TheWicker ...

1) The EA crossover code uses the index reference BarNo-1 during the calculations, when calculating for Bar 0 this obviously does not work (referencing bar -1 which does nort exist), in essence means the real-time calculation actually calculates the signal bar for the previous bar on the opening of a new bar ... this sort of makes sense since with EMA's of 4 and 8 to calculate a crossover on the current bar could give false signals as the EMA could cross and uncross during the life of the current bar. So I will calculate all values on the first tick of a new bar - does that makes sense?

2) The Guppy MMAs. From the document, for them to be aligned (for a long) all MA's +ve and all green above all red ... ok that's no problem ... there is no requirement that all yellows need to be above all orange ... it is ok if some of these overlap providing they are all positive in direction.
3) The stops ... do you just use the daily pivots or do you use the weekly, monthly and fib levels too - this is not mentioned in the document but the code for these levels is in the package?

The first release of the EA will just give an Alert when EVERYTHING LINES UP for a trade within the last two bars ( Ok for you Geoffery? )... then I put together the trading piece ....

Best

Paul

Great Paul. Thanks for all your efforts.

Yes, we could also say that our entry is the first tick after the signal bar. We can not enter at the signal bar, because we have first to wait for the signal bar to occur.

We than can enter right away at the next tick or we wait till the close of that tick for the conditions to meet, if they do meet, otherwise we don't take the trade.

I don't use pivot points for stops. Pivots are used for exits. I place my stops at a standard 15-20 pips or if more appropriate 5 pips below/above recent high/low.

Hi TheWicker

Apologies a typo on my part I meant exits .... do you use all the pivots for your exists or just the daily numbers ... if you use all of them how do you decide which one to use as your exit - the next one up / down from the entry?

Thanks

Paul

Hi Paul
Sounds really good to me, thanks for taking the time to do it. Just as a bit of info took a good trade today on euro/ usd entry was 1.367 everything all lined up, took my exit at +100 pips . Time for a cup of tea I think.
Kind regards
Geoff

Should be 1.3767
Geoff

Had an excellent day.
+88 EUR/USD (took eur at 1.3772 because every ma is lined down and green below red + laquerre overbought and falling + macd below zero), in brief, all indicators suggest a further down movement. Stop was only 16 pips away. So risk reward is great.
+195 EUR/JPY

Best system I have ever used. (I do not follow the entry rules exactly but it gives me a very good indication what the possible direction is: up or down)

How can I thank you.. W

Great trading Wiper. Can you comment on your entries and exits?

I' ve been stopped out on both EUR/USD and EUR/JPY. I'm using a trailing stop once I have good profit. Maybe I should have closed 1/2 and held both short until the slope line changed color. Who will tell?

Also the arrow changed to green color on euro. Somethimes, i think it is better to take profits.
I'm keeping an eye on the daily ATR range.

Hi all,

Today was perfect day for this strategy. As part of my other strategy I am watching 5 pairs: EUR/USD, USD/CHF, GBP/USD, EUR/JPY, USD/JPY. I tried to watch this pairs using this strategy and today I received signal for all of above mentioned pairs except GBP/USD and all trades were positive. This is a good strategy but for now I can't afford SL of 20 pips.

Wish you good trading,
Hegan

What do you mean by: I can't afford a 20 pip stop?

I am tremendously happy, many of you are making huge progress and profits with this system!

To pmurfin: I use all of the pivots as my exit. I look at hourly charts to get a feel how well the market could move, and follow the trend to the most appropriate pivot point to exit my trade. It is more of a gut feel. You have the decision when to get out, will you be more conservative (getting out at the first pivot) or more agressive (taking it up and up, by using either a trailing stop or moving your stoploss manually every 30 pips or so, to avoid loss). Don't let your winning trades become loser trades, but don't move your stoploss to soon or you might get stopped right after you see it go your way then. Trading should be applied to your personality and here you have both choices.

Good post Wicker. Having a quick question. I've got 2 blue colored lines on screen. Blue1=D_SI line and blue2=W_S1 Line. Wat exactly are they?

Thank you,
Wim

Hi Guys

Here is the 1st cut - I'm only just running it myself so there are probably some bugs - PLEASE don't use it blindly until we have checked it is working as it should be.

Take a look at the image

The comment shows two lines:

1) The direction of the MA sets if they all agree it will say "Red: ALL SHORT" etc ... if they are not all in the same direction it will say "Red: FLAT"

2) The second line shows the status of the other indicators
a) Signal - will show long/short IF crossover as occurred in last two bars else it will say FLAT
b) Slope - will show long/short
c) MACD - will show long/short
d) Languerre will show long/short if crossover (o.75/0.15) has occured in last two bars
e) Guppy - will show long/short if all ma are going in the same direction AND all the grrens are on the correct side of all the reds ... otherwise it will show flat
f) TRADE - will show long/short if you should trade on this bar - An alert will also be raised i.e. Guppy (e) and MACD (c) and Languerre (d) and Signal (a) all agree long/short.

Have a play and let me know how you get on!

Best

Paul

p.s. put this in EA directory and compile!!!!

Hi TheWicker

Well programming that is far beyond my wit ! Some things ARE just better done by a human - thank the lord!

Ok ... we I can set up an ATR based trailing stop or maybe an exit just based on a slope direction change as you suggest ... at least for a trail run ....

Thanks again this is very exciting!

Paul

Daily support and weekly support. Pivots.

so here is the fixed versioin ...

Hi,

Can someone please come to the rescue of a complete computer nerd. I saved the zipped file that lux put up to my desktop. How do I get it from there to my MT4 platform ?

Thanks