Golden-Cross Trading-Idea

If memory serves me well, in one of the larger threads, maybe even TMS, a little program was shown, which automatically collected all postings of a nick in that very thread. I used it successfully. But now, been old white .... I even won`t find it.
Maybe nowadays a ChatGPT prompt would do the job.

Hello everyone, I'm still practicing on my demo account with the GoldenCross strategy, trying out some alternatives with the confluences in the upper left corner of the screen.




Considering the higher trends (H4 SHORT - D1 SHORT, not shown on the upper left screen). Would a short entry be valid once the price gives a sell signal (sell stop), considering that it is at the top of a Donchian Channel, as long as the higher trends stay short.

Greetings to everyone!

Great system! I've been "playing around" with it for a couple of days. And man, what a gem! I will post my trades the coming week!

Ps : chiar vorbesti romaneste George?

That's a helpful idea!

Sigur.

Sorry for not being active, as I was hospitalized due to some health issues

Trade update:

Attached Image (click to enlarge)

I think exiting the trade at 4368.00 was the right decision.

Really happy with how this trade worked out, what more could I ask for?

Once again, many thanks to @George for selflessly sharing this great approach.

If I can do it, you all can too. For me, it’s working well, I can’t speak for others, but I’m happy to share what I’ve learned and experienecd.

To all members, readers, and visitors (active and silent), no one is stopping anyone from learning, adding indicators or tweaking this strategy.
But in the beginning, keep it simple , it will make learning and trading much easier. Once you’ve spent a few thousand hours and a couple of years gaining experience, you’ll naturally trade in your own way.

Best,
EN

Hi Fream,

Sorry for the delayed reply.

I’ve noticed many members aren’t using smGoldenCross Trend_v2.2 to its full potential.

Once gain I am repeating DO NOT follow me blindly, I am learning every day but I’d like to help clarify how Golden Cross indictaors works as per my understanding so that all other interested members can also use it to the best.

Fream, a few key points as per my understanding
1) Since you’re on the H1 chart, the indicator displays one higher timeframe (H4) and one lower timeframe (M15). This follows the Elder triple timeframe approach, the lower timeframe is ¼ of the current (M15), and the higher timeframe is ×4 (H4). That fits perfectly when you’re on H1. Read post #1 by George.

2) In your chart, H4 and M15 currently show 0.0000
In the smGolenCross Trend _v2.2 indicator settings for the 5 LWMA, set Draw_LastCloseForecasting = true , you will notice that the values will display correctly, and you’ll be able to use the indicator to its full potential.

It’s important to understand what LONG and SHORT actually mean in the display


LONG = The 5 LWMA (average Close) is above the 5 LWMA (average Open).
The value displayed is the forecasted Close price, if the current price goes below this value, the display will flip from LONG to SHORT, meaning the MA cross will occur (Death Cross)
SHORT = The 5 LWMA (average Close) is below the 5 LWMA (average Open).
The value displayed is the forecasted Close Price, if the current price goes above this value, the display will flip from SHORT to LONG, and a new cross will happen (Golden Gross)
Because these are mathematical calculations, even a very small difference (as little as 0.0001) between the avgClose and avgOpen can cause a change. That’s why, during strong price fluctuations, you might sometimes notice the display flipping rapidly between LONG / SHORT / LONG this is completely normal.

Example (EURUSD H1 at time of screenshot)

Current price when I took the screenshot was 1.16313. The top left values displayed as:
H4: LONG C = <1.16175
If the closing price goes below 1.16175, the H4 display will switch to SHORT (~138 points / 13.8 pips away).

H1: LONG C = <1.16230 Switches to SHORT if close goes below 1.16230 (~83 points / 8.3 pips).
M15: LONG C = <1.16273 Switches to SHORT if close goes below 1.16273 (~40 points / 4 pips).

These are the trigger levels for each timeframe based on the 5-LWMA relationship.

Regarding your short entry question, a short entry makes the most sense when
The higher timeframes remain short (D1 and H4), and
You get a sell signal with the slope indicator showing red/down arrows, ideally entering within the next 2 to 3 bars of the slope histogram turning down. That gives the best confluence for a short.

Instead of adding extra indicators, you can also use the Channel Oscillator color, Coral = Downtrend, Medium Sea Green = Uptrend. This is a simple but effective visual confluence that pairs well with the GoldenCross readings.

Finally everything George has provided in this thread is useful. (Indicators, charts , explanations, replies to other members queries) There are now 42 pages only and counting, if you have time, read through them over a weekend and reread until the concepts click.

Hope this helps you and others too.

Wishing you and all the members great trades.


Best
EN

Trade Update – ETHUSD H1

It even works on weekends. I switched to H1 today (even M5 was giving so many oportunities today)

I know that many members and visitors here are far more knowledgeable and experienced than I am, but if I, a self confessed super LAZY person, can make this work, then anyone who’s struggling can do it too.

I’ve learned the most by switching to M5/M30 on weekends which replicates H4/D1 behavior. (This was only for learning and speeding up the process, otherwise I’d have to wait hours or days for setups on H4/D1)

For New members:
Start from Post #1 and focus on posts by SwingMan (George).

Go through all of them it may take some time, but it will help you tremendously in the long run.

Have trust in this system, practice it, demo trade, and set a small goal for yourself.

Say “I’ll take at least X number of trades, minimum 10.”

By the time you complete those trades, most of the concepts will become clear. Then you can move to your preferred timeframe, the higher the better, and you’ll trade with confidence in the system.

Happy trading to all members

Best,
EN

M5 Today

Hello Everyone,

Since I was at home and a bit bored, I decided to explore another indicator from the GoldenCross family.

I ’ve already studied almost all the other GoldenCross indicators except this smGoldenCross Trend MTF_v5.1 so I thought I’d explore it as well. I still need more time and focus, but I’ll try to study it in the coming week and share my findings.
I plotted it on the XAUUSD chart.

The blue staircase line represents the forecasted close of the higher timeframe.

If you look at the top right corner of the chart, you’ll notice that the value of the higher timeframe plotted by smGoldenCrossTrend_v2.2 is the same as the one displayed when hovering the mouse over the staircase bar.

Also, since there are 6 × H4 bars in one D1 bar, the width of each “step” in the staircase is 6 bars, exactly as expected.

I’ll continue exploring this further to see how it can help in staying with the trend and managing trades more effectively.

Attached Image (click to enlarge)

The indicator can be downloaded from here


If you lose a trade, it can always be recovered, but once you lose your health, it’s never easy to regain.

So take care of yourself, stay happy and healthy, and keep your mind clear.

Wishing everyone loads of PIP$ and continued success.

Best of luck to all,
EN

Just took a small scalp on gold on m5!

Trading near the Donchian Channel is risky, and there's a strong resistance zone here. OK, you could make sell trades.

When the Slope indicator is falling, you can consider the signals, which is what happened starting from the last fifth bar.

You mean this one?

No, the sell signal (red arrow) is five bars before.

I see that you also have the SmallWick indicator in your chart.
If you haven't studied/understood it, don't burden your chart with it.

It's also not suitable for M5 charts because the bar ranges are too small.

this was my entry
I was expecting a pullback

I understand

Is this entry correct, or is it to close to the Donchian Channel?

It's risky though.

It's safer to set the break-even point at Entry - 20 points.

- Please also draw the long-term MA(30).
- Do not draw the SmallWick indicator anymore.
- The middle line of the MA(5) is not needed.
- When you post, please save the chart with "Save As Picture" so that the date is visible and it's easier to analyze.

Got it, Thanks!