Trend Follower 5 Minute System

CEO is correct - as I understood The Wickers original document all the greens need to be on the right side of all the reds and beyond that all ma have to be going in the correct direction - and that's it - there is no account of overlap in the other colours ... there is no mention of that in The Wickers original document that I saw?

Can I just check that my interpretation of the rules is OK. As I understand it it is not sufficient for the laguerre indicator to be in the right part of the grid i.e. below .75 for sell and above.15 for buy it must also be pointing in the direction of the trade. Is that correct please ?

Hi,
I am new for the forex.
Please correct me if i wrong.
We enter the buy when red/green/blue/orange/yellow/signal/slope/MACD/laguerre/guppy/trade all signal must be show long.
we enter the sell when
red/green/blue/orange/yellow/signal/slope/MACD/laguerre/guppy/trade all signal must be show short.
Even either one of the signal is not show all long for buy or all short for sell, this is not correct signal. we don't enter buy or sell.
How about S/L or T/P?
Please advice.
Sorry if my english poor.
Thanks.

To quote the wicker, "Remember the positions of GREEN lines and RED lines. For a trend to be considered long the green must be above the red lines, and for short the green lines must be below the red lines." When these swap you will get the thumbs up or down ........

Long\Buy

ENTRY: First We wait for a long signal alert
GUPPY MMA: The green lines must be above the red lines! Green, Red and Yellow lines must agree and head north. All the lines must be going in the same direction!
LAGUERRE: Laguerre line must cross the 0.15 from below and head up
MACD: This is important! When you get the signal MACD must be above 0

Short\Sell

ENTRY: First We wait for a short signal alert
GUPPY MMA: The green lines must be below the red lines! Green, Red and Yellow lines must agree and head south.All the lines must be going in the same direction!
LAGUERRE: Laguerre line must cross the 0.75 from above and head down
MACD: This is important! When you get the signal MACD must be below 0

so.........Green and Red are ones that ultimatelly determine trend direction. When they swap the trend has changed, not until then. It does not matter if the other colors overlap somewhat, in fact, when they are all tight together in a group is the best kind of signal. But they do need to be going in the correct direction (at this time) even if they are overlapped. The laguerre needs not only to be below .75 , but to have just come from above .75 or above .15 and have just come from below.......

Also........the move i made 50 pips on last night in the gbpjpy was on the 30minute as Paul said. My Server is gmt+2......

Also.......when the EA gives a alert and says FLAT at the end its up to you to decide what you want to do. If it says GO SHORT OR GO LONG all of the criteria have been met, jump in. Its not perfect but its correct almost always. For those times its not, the times it is correct more than makes up for it......... if you are using proper money management................Happy trading everyone. Thanks The Wicker really love your fraud/scam page.........looking forward to the trading EA Paul........thanks....JimDandy

I haven''t been getting great results here the last 2 days on the 5-minute timeframe. Currently short GBP/JPY on the short signal and down 25 pips...

And came to the conslusion that the USD/CAD does not work well at all with this system either.

If you don't like the system, just drop it

Hi TheWicker,

Found myself getting confused again today over the pivot points so decided to try identifying some of the lines on the chart I wasn't sure about.

In the process I stumbled across a handy reference that helped me a great deal.

http://www.mataf.net/en/forex/tradin...ints/standard/


Would I be right in thinking you have two lots of daily pivots but use a different time zone for each? i.e. NY close and midnight GMT?

Thanks,
Ed.

I was watching my charts today and noticed that after an update, two of the signal arrows were erased on the next tick. I wonder if that is how when you look back at some of the charts, you can get two red or two green arrows next to each other?

Lyle

Hi There, great system.

I have back test for a number of months back and it seems to work pretty well.

I have two questions:

1. Do You have the the "numbers" for this system?
percentage of success and failure of this system for, let's say, 3-4 years back ?
How many orders does it usually open per day, week, month, year ?
How many pips does it make on average, StdDev and stuff like that ?

2. Do You happen to have the system as an Expert-Advisor for MT4 ? This could save me some time on trying to move all the code from indicators into EA for back-testing.

Thanks a lot in advance,

Once again, SUPERB system.

Hi!

I have problem to set up the trend follower on my metatrader4. First I dont have same colors of MMA like Wicker described in his blog. I have 5 colors and there are:
1.gold
2.deepskyblue
3.lime(green)
4.red
5.mediumorchid
Now, I am confused which one is red and which one is green???? Like in description in the blog?? When I set up every tool the mediumorchid is always the last one(long term traders). Does that mean that mediumorchid is red MMA?? What I have to do? Do I have to change the colors manually?
Next, I dont have volatility channel in my downloaded packet?? How can I fix this stuff?
Please help me!
Thanks in advance!!

Guys,

perhaps we should work and test the system over an extended period.. say back to 12/2006 on the 30 min. I have tested over this period on the GBP and it isn't really that profitable, however, i recognise this has been a difficult period for the GBPUSD and the system might have performed very well on other pairs.

So my point is we should work together and try and get some test data on this. The system might have performed well over the last few weeks but this has been very good conditions for FX trading. The quickest way to test might be to use the strategy tester and then look at the journal to see when entries were triggered then look back and find the exit price and log this data on Excel to find some results.

No point in wishing it is a great system until we have proven it REALLY is. i believe in the use of some discretion with system trading... but the system must have a positive expectancy BEFORE a trader adds their own knowledge, experiece, emotions and inability!!!!

We could agree that a diff person tests a diff pair on the 30 min chart, this way we could have a 8 month history for 8 pairs within no time... 2 hrs of work each... Please get back to me if your interested and we can decide on our exact exit technique.

Thanks and happy trading

Charlie

How did you do your testing?
I have found that it is very difficult to visually tell when the proper conditions exist.
What did you use for a SL?
Where did you take profits?

I don't think that the SL or PT have been properly defined. They make a lot of difference.

Bilbss,

for testing make sure u have the signal trend follower EA on your charts. Then go up to teh Strategy tester icon on the top right handside. It is 7 buttons in. The strategy tester will appear on teh bottom of the platform. Select the correct pair and time frame on this area. Then press start to start scanning.... oohh also make sure u have the 'EMA Crossover Signal' indicator on teh chart with the EA. then start scanning. In the Journal tab at the bottom of the page it will give u your entry times. I was thinking stops of 35 pips and exit when the 'EMA Crossover Signal' indicator crosses in teh opposite direction....

hope this helps.. try and see if you can get this to work and then perhaps with a few others we can test this data.

or perhaps we could use the BAT indicator for trailing stops

This was already covered at post #85 where it was stated:

"I just wanna add some comments pertaining to the use of trend follower on CAD.
Based from my observation, CAD does not perform well using trend follower. Different currency do have their own characteristic, I tried Cable, EUR and JPY they seem to be OK on Trend follwer but not CAD. Many times I see that trend follower missed out good trade with CAD. "

The Wicker may want to remove the USD/CAD from this line on his webpage:
Recommended Forex Pairs: USD/JPY, USD/CHF, GBP/USD, EUR/USD, USD/CAD, AUD/USD, EUR/JPY and Gold.
Pay attention to "when" you use this system also. The Wicker states he uses it From EU open until US close.
If you are not having success with this strategy try another. There are plenty out there. As The Wicker stated success is only 30% strategy and 70% you. You decide which one needs more backtesting. Speaking for myself, I know that i must spend days or weeks with a system to really get the "feel" of it and its nuances. And that changing pairs can change all those "nuances" so try it. Demo trade it. And if it fits good with what your eye sees happening and your brain "feels" is correct over fifty percent of the time. Trade it...........Now.........how do I get down off of this soapbox? (lol) Jimdandy

I got 2 signals from yesterday. eurusd at 21/08, 12:30 (GMT+3 NF time) result = lost 24 pips. and just now audusd at 22/08, 01:32 (GMT+3 NF time) result = loss - 24 pips too . maybe.. just maybe this system didn't work very well on a steady condition, it needs a very trending market like last week. anyone??

I wouldn't base any conclusions on a couple of losses or a couple of wins, for that matter.

Hi all. I have been following this thread since the inception. Many thanks to TheWicker and all of the contributors thus far to this thread. And now it is my turn to contribute.

As a trader; the system has a good foundation. And I do like the usability of the indicators; except for just one. The Rainbow; yes the foundation. I have made a small change to the Rainbow indicator so you can hide it or show it very easily.

One might ask why I or you might need to do this. I am very big into Fibs and I often have 3 or 4 sets of Fib lines on one chart. Two on the left and two on the right of the current bar or candle. And then there are my trend lines I draw and the multi-timeframe pivot points.

My charts can get very cluttered/busy and I can not read or see every thing I need to see. Now that I have vented and probably described what most of you experience all of the time on your charts, you will know why I made this change.

The original indicator was posted way back at the beginning of the thread. When I first installed the indicators; all 11 of them, I change the colors to come close to what TheWicker described.

Since then, the only change I have made was to add a very basic on off switch that you control with F3 on your key board. Here is how it works. When you press F3 the Global Variables window appears. This is the foundation for the switch. Press the Add button and enter in the Variable column the name HideRainbow and enter 1 into the Value column. This will turn off all of the rainbow elements when you close the window F3 window. If you are at the 5M chart, switch to the any other time frame and come back to the 5M and you will see the Rainbow is gone. It will not show again on any chart until you change the value of 1 to some thing else or remove the HideRainbow entry.

This solution should save you having to run multiple templates; which when loaded blows away any existing trend lines, notes or Fib lines you may have on your chart.

I added the following lines of code to each of the 11 indicators.


if (GlobalVariableCheck("HideRainbow")){
double show;
show = GlobalVariableGet("HideRainbow");
if (show == 1.0) return(0);
}



The indicators are attached to this post.

I hope you find this technique useful in the future with other indicators you acquire or develop your self.

Unless the code will not work as outlined above, I in no way will make any other changes to this source code. It is up to you.

Thanks again to every one on the thread. Good luck to you all on finding the "Pot of Gold" at the end of the rainbow.

[quote=pilatus;1551344]Hi!

I have problem to set up the trend follower on my metatrader4. First I dont have same colors of MMA like Wicker described in his blog.

Use MetaTrader 4, open a new chart, attach TheWickers template to it (make sure the template is in the correct MT4's folder - see previous posts on this).