Auslanco-GBP/JPY Strength Indicator strategy

Quoting ltklev

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First of all, great system, but I do not understand everything in it:
1)"A)4hr chart:First confirm the 4hr Strength indicator has turned bullish "- What do you mean? The line should bent northward or should I check the last 2 values of it and see if there's a positive difference between them? Or do you mean that there needs to be a crossover of the two lines in the strength indicator

H4 confirmation means the candle closes above Gann(TFT) line if it is bulish and the opposite for bearish. This has to be taken seperately than the cross. But both conditions must be seen for an entry.

2) " SL aprox:100 pips from the 1hr , 50line crossover price." - Let's assume the open price of the crossover 1H was 226.00 , So My SL would be 225.00 If long, and 227.00 if short?

For easy understanding a stop loss about 100 pips will generally be enough. And as your example if all the conditions are met your stop loss prices are correct. But bear in mind that after experiencing the core strategy watching momentum and the price action comes more important. And then you can either enter at a better price. Will be watching Auslanco's trades closer

When H4 is allready crossed and confirmed and waiting H1 to confirm(this is one of the probabilities) where H1 is already crossed, you enter the trade just after the confirmation candle. There is no strict rule about this though.


When H4 is crossed and confirmed and waiting H1 to cross(this is one of the probabilities) where H1 already confirmed, then you can definetely enter the trade within a pullback or near sma5 or just after the cross. There is no strict rule about this though.


But remember there are several different probabilities abot how a setup can occur and that you may have to act discreational using momentum and other indicators. The best way is to get the basics of the strategy from the first post

3) Do you have to wait for the 4h candle to close above the Gann line and then look @ the 1h line, or is it ok if you start looking at the 1h candles sooner?

It doesn't matter which one is confirmed first. But when you are entering a trade both should be confirmed already

4) When do you exit if the trade seems to go bad (Not talking about the 200/300 TP targets)? Do you lock in profits ,and if yes, after how many pips?

The potential targets reached are stated in the first post like D1, H4 and H1 are showing all the same direction then you probably can aim more than 200 pips. But important fibo levels amd main support resistance lines can also be targets or at least the points where you can trail your stop.

I think it's enough questions for one day... I think the best thing would be to publish a nice clean comprehensive PDF GUIDE for you systems... With the MT4 charts, since I don't think anyone except you uses the VT . It's just a suggestion and it would be very helpful for the new guys (like me).

Have a great day!

P.S - 5) How do you scalp this pair during a consolidation? Please give a complete explanation .

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Quoting Que

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Ok New QQE Alert

Changes:

Now has Price on Output
User Defined text before price on Output
Alerts only trigger One Time, not Two for each Alert


*Note* Can not change sound as the PlaySound function and the Alert Function does not work together in an indicator. If you change your Alert sound in the options page of MT4 it will change it for all alerts.

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Quoting pips4life

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Hi Que,

Thanks for considering and implementing my requests to the extent possible. I'd like to clarify something...

Regarding the Alert now triggering only once... I'm confused. There are two unique crossings which have been talked about, and actually, I see value in keeping alerts for both types of crossings, but I still would like to change the text as I previously described.

When the Blue line crosses above or below the 50 line, that's one kind of "cross". This doesn't happen very often, as can readily be seen on any chart, even a 5M chart. (I would use the words "ABOVE" and "BELOW" the 50 line in the alert message to describe this type of event).

However, the Blue line and the dashed-black line do cross each other more frequently. I know people have posted comments to say the various lines have crossed... aren't they talking about this type of crossing, and aren't these type of crosses still relevant? Although they happen more frequently, I see value in keeping these alerts also. It's not spam to me, although if you think it unnecessary, would you consider adding a boolean to allow them to be turned on by the user's choice?

Forgive me if it's not for the "official" Auslanco system -- although I'm confused because I thought both types of crosses are part of the system -- however, perhaps you saw a post by someone using the older version to do 5M scalping, and made 350 pips in a day! Check out a 5M chart with the QQE indicator, and you will see that having both types of alerts are very useful for this method of scalping. Having only the 50 line crosses is not as good as having both types of crosses. Going above/below the 50 is like a major trend. The 2 lines crossing each other make for good exit signals, and possible re-entry signals.

Thanks for making the changes you did. Please consider if this request to add back the 2nd-type of alert (with or without a boolean switch) has merit. I'm still new to this system, so I apologize in advance if I'm way off base.

Pips4life

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Quoting Que

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Both types of alerts still exist. What I was refering to is, it only alerts one time not twice (Was a slight alteration to how I calculated end of bar). Both alerts are still there (The 50 and the lines crossing). On top of that, the ability to make the alert say what ever you want IS there.

Please install and look at the features of the indicator.

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Quoting cryten

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For anyone still using VT here is the QQE with alerts.

Pink dot for sell and blue dot for buy

(you need to got to "trading system builder" in vtrader, import, go to where the file is saved and click ok. Then go to add trading system and choose qqe alert. Thats it, you don't need to enable trading system as it is just for alerts not autotrading.)

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Quoting Susan

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I've saved the QQE alert as mentioned below, but can't seem to find the ADD TRADING SYSTEM, to choose the qqe alert. Can anyone point me in the right direction.

Many thanks

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Quoting Susan

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Thanks for your help. Just loaded it on.

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