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Trend Follower 5 Minute System

  • #281
  • Aug 17, 2007 2:04pm Aug 17, 2007 2:04pm
Boys, just don't crash the entire forex market
  • #282
  • Aug 17, 2007 2:24pm Aug 17, 2007 2:24pm
Quoting TheWicker
Boys, just don't crash the entire forex market
Not a problem! Globally, the Sub-Prime Mortgages and the Yen Carry trades already took care of that for us.
  • #283
  • Edited 3:24pm Aug 17, 2007 3:21pm | Edited 3:24pm
Quoting TheWicker
Boys, just don't crash the entire forex market
I am still cannot believe that....
Urban Sotensek, i owe you ...
  • #284
  • Aug 17, 2007 10:00pm Aug 17, 2007 10:00pm
Paul,

I've been doing a little research and have dug up Bill William's (the chaos man) trailing stop loss. This isn't in his book. It's the one he uses and teaches in his seminars.

It may be too complex to be worth programming.

Here it is anyway:

5 Simple MA, offset right by 3.

Wait for two consecutive closes above/below the MA.

Place your SL 1 pip above/below the high/low of the second bar that closed.
If it is not hit- remove it.


Example for use with a long trade-

*Two consecutive bars close under the MA.

*Place SL 1 pip below the low of the second bar.

*If price closes above the average, wait for another two closes below the average.


You can put this on a chart and have a look at it.

I just looked at the GBP 30M trade from last night.

If used on a 30M chart, this method would have given us 20 pips.

If managed on a 5M chart (after taking the trade on the 30M chart), it would have given us 94 pips.
  • #285
  • Aug 18, 2007 1:55am Aug 18, 2007 1:55am
i am trying to set up the system with the ea program

i have downloaded the indicators and tremplate from the wicker website
i then downloaded the two files trend following post 203 i attached the ea to 30in chart seems fine but cannot attach alert indicator
can anyone heklp with my setting up
thanks
  • #286
  • Aug 18, 2007 4:14am Aug 18, 2007 4:14am
Quoting censura
i am trying to set up the system with the ea program

i have downloaded the indicators and tremplate from the wicker website
i then downloaded the two files trend following post 203 i attached the ea to 30in chart seems fine but cannot attach alert indicator
can anyone heklp with my setting up
thanks
The alert goes in the "expert" file, not the "indicator" file.
  • #287
  • Aug 18, 2007 9:42am Aug 18, 2007 9:42am
has anyone got this to work as yet, i got the email to work but tried the sugestion but it did not work, can someone confirm the number format is it +44 and drop the front 0 ie +44789879809 if in the uk
hope someone can help
thank you
  • #288
  • Aug 18, 2007 9:52am Aug 18, 2007 9:52am
Quoting billbss
Paul,

I've been doing a little research and have dug up Bill William's (the chaos man) trailing stop loss. This isn't in his book. It's the one he uses and teaches in his seminars.

It may be too complex to be worth programming.

Here it is anyway:

5 Simple MA, offset right by 3.

Wait for two consecutive closes above/below the MA.

Place your SL 1 pip above/below the high/low of the second bar that closed.
If it is not hit- remove it.


Example for use with a long trade-

*Two consecutive bars close under the MA.

*Place SL 1 pip below the low of the second bar.

*If price closes above the average, wait for another two closes below the average.


You can put this on a chart and have a look at it.

I just looked at the GBP 30M trade from last night.

If used on a 30M chart, this method would have given us 20 pips.

If managed on a 5M chart (after taking the trade on the 30M chart), it would have given us 94 pips.
After the two bars close and you set your SL when do you cancel it? If the next bar does not trigger it? Then wait for another 2 bars?

Thanks
  • #289
  • Aug 18, 2007 10:01am Aug 18, 2007 10:01am
Quoting jay9170
After the two bars close and you set your SL when do you cancel it? If the next bar does not trigger it? Then wait for another 2 bars?

Thanks
You cancel it when you set another one.

You don't set another SL until price closes outside of the MA and then again closes twice above (shorts)/below (longs) it.

Set it up on a chart and you'll see what I mean. Its an easy concept but hard to explain.
  • #290
  • Aug 18, 2007 10:54am Aug 18, 2007 10:54am
Wicker,

I would like to try your system in the futures market. Can you please tell me what the EMAs are for each of the color bands? Thanks!
  • #291
  • Aug 18, 2007 11:03am Aug 18, 2007 11:03am
Quoting lcfxtrader
Wicker,

I would like to try your system in the futures market. Can you please tell me what the EMAs are for each of the color bands? Thanks!
I considered that too.

I don't think there is enough continuous data in the futures market for the indicators to be meaningful. The overnight stuff isn't worth much.
  • #292
  • Aug 18, 2007 9:27pm Aug 18, 2007 9:27pm
Excellent work mr Wicker and Pmurfin for programming this! I was wondering if mr pmurfin was going to program the EA to give signal arrows over previous data? Or am I being retarded and is there an option for this already in the EA? It would be really interesting to get a back test of this system over the last couple of years....
  • #293
  • Aug 18, 2007 11:21pm Aug 18, 2007 11:21pm
Quoting billbss
You cancel it when you set another one.

You don't set another SL until price closes outside of the MA and then again closes twice above (shorts)/below (longs) it.

Set it up on a chart and you'll see what I mean. Its an easy concept but hard to explain.
billbs, look at your 5 MA shift 3 and PSAR (0.02, 0.20) on 5 m TF
for me looks like PSAR has a little advance ... abt 15-30% before (or stay in trade) compared to 5 MA
  • #294
  • Aug 19, 2007 12:35am Aug 19, 2007 12:35am
Hi Paul,

Did you find the time this weekend to program those real time alerts (green and red arrows) when the signals happen.

Thank you,
Wim
  • #295
  • Aug 19, 2007 8:04am Aug 19, 2007 8:04am
Hi guys,

Could someone, please, help me with EA back testing. I've been trying to get Paul's EA working on my system, but am not sure what exactly to look for.

My ?s are as follows:

1. When I try to select a particular date range using "Tester" window, EA does seem to be analysing the chart (you can see that in "Visual" mode ), but (a) it opens a new chart window (that does not have TheWicker's excellent template), and (b) no alerts are produced? What is the correct way to do back testing for a given period using specific chart (with the template)?

2. Using GBPUSD as an example, when I attach EA to the chart I only get alerts when I switch to H1 chart. Why are there no alerts for M5 and M30 charts? Also, for H1 chart I get "current" alerts (i.e. for the current time, e.g. "13:32:22 - EMA Cross Trend going Down on GBPUSD 60", but (!) that chart only shows data till 17 August. How can alert be generated for "off the chart" data? Also, does the above alert mean "Go short"?

3. I tried all suggestd options, but couldn't get email alerts being sent. What is the right way to do it?

Sorry for "off subject" questions, I am sure some of you had the same problems and hope you managed to get them solved.

Many thanks!
One Chart is Worth Ten Thousand Words.
  • #296
  • Aug 19, 2007 8:13am Aug 19, 2007 8:13am
I noticed that Paul's EA only generates alerts when I use IBFX MT4. With the "native" MT4 no alerts are generated. Has anyone had the same problem?
One Chart is Worth Ten Thousand Words.
  • #297
  • Aug 19, 2007 9:05am Aug 19, 2007 9:05am
Hi censura,

Not sure if you are referring to my previous post but just in case....


My setup depends on being an Orange customer but I guess most providers offer similar services, so here goes....

Orange allow customers to setup a free email account via their website and this can be configured to send a free text alert each time an email is received. So all you need do is enter the email address into MetaTrader, enable Pauls EA alerts and hey presto.

Best of all it's completely free albeit a bit too slow sometimes.

Hope this helps,
Ed.
  • #298
  • Aug 19, 2007 9:12am Aug 19, 2007 9:12am
Quoting Forex007
I noticed that Paul's EA only generates alerts when I use IBFX MT4. With the "native" MT4 no alerts are generated. Has anyone had the same problem?
I am using what i believe to be a bog standard version of MetaTrader downloaded from MetaQuotes. (Mig demo).

Don't know if that helps...

Ed.
  • #299
  • Aug 19, 2007 9:26am Aug 19, 2007 9:26am
Quoting FxFocus
I am using what i believe to be a bog standard version of MetaTrader downloaded from MetaQuotes. (Mig demo).

Don't know if that helps...

Ed.
Thanks for the reply, FXFocus. That's the version I am using too. Do you get a confirmation/entry in "Journal" after an email was sent? Is it just a pop-up alert that you get with Paul's EA (or some "visuals" too)? Have you tried using it for back testing?
One Chart is Worth Ten Thousand Words.
  • #300
  • Aug 19, 2007 9:42am Aug 19, 2007 9:42am
Thanks for sharing the trading system. Now I know how to trade the rainbow.
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