Dollie's Safe Pips Indicator

here are 3 pairs I just scalped: NZDUSD - USDCAD - AUDUSD using Dollies indicators as my base.

I have added 2 filters to this system. You don't have to. The first indicator box is Momentum (20) and RSI (10). I don't go long unless both of these are over the 100 line and don't go short unless these are both under the 100 line. The other indicator box is a trend indicator. It is attached for those who want it. I use this sometimes as an indicator to go short. I don't know if it is just me but I feel Dollies indicators often get you into short positions late. I think it has to do with the Absolute Strength indicator. This is where the trend indicator comes in.

If the HMA is purple and sloping downward at a good angle and the Momentum and RSI are both under the 100 line and the LSMA is RED and Sloping downward at a good angle I will now refer to the Trend indicator. If the purple line is above 4 then I will enter a short position. I am going to papertrade this method until I become fully confident that the Trend Indicator is strong enough base short trades off of.

Attached are two good examples that could have netted 27 pips off the yen.

I just scalped another 10 pips from the aussie/us cross. see attached....

This system works for any timeframe. It is just my personality that makes me scalp. I can't place a trade and walk away from my computer with a stop loss and take profit set and then check the charts an hour later and see where I am at.

the attached chart is the following 15min from the previous post. As you can see the price completely whipsawed and if I decided to stay in I would have had a losing trade. The moral of the story... don't get greedy if you scalp. Take your 10 pips and run. I am going to bed now (2:00 am EST).

I see that you are successful and seem to like the aud and cad pairs. I too have been studying them since I started trading. Just a FYI: You might want to check out the eur/aud and eur/cad instead of the aud/usd and usd/cad. If your broker doesn't have these pairs, shame on them. They move an average of 100 pips a day and with the news events of the two countries you will get better action. Set up a demo account at Interbankfx just to watch it. The news events to watch for the aud pairs are unemployment and retail sales, which come out around the first week of the month. You may find that for the 24 hours after the event, there can be several moves to make some pips. Thanks for posting.

Hi PP2

Just to say welcome back, PP2. I know you cannot just leave a winning system like Dollie alone!

Thanks for the suggestion. I will look into the Eur/Aud pair. My charting platform (strategybuilderfx) doesn't have the Eur/Cad pair.

I usually trade from 8pm - 3am Eastern Time. The first thing I do is look at the previous days movements on all the pairs. I choose 4 or 5 that I determine to be most volatile and those are the crosses I will concentrate on. If one of these didn't get any action then I substitute it the next day.

I just scalped 24 pips from the dollar, euro, aussie Yen crosses. As I type this these pairs are still going short. I guess I am too impatient. LOL

I thought that I had forgotten how to post charts but it looks like forex factory has decided to make our charts very small. Here is the chart I tried to post yesterday. You will have to zoom your page to see it. The arrows all show what are good signals from the indicators. Not the biggest move but I wanted to show the indicators and how they are supposed to look.

I see on your charts you are using momentum 15. Is this standard??? thanks

I have been switching between 20 & 15 as my setting. I think I am going to go more with the 20 settings as it gives me a little more idea of the overall trend.

I just scored on 116 pips off the dollar, euro, aussie YEN crosses. I stayed in longer then usual because purple line (absolute strength) was staying level at the bottom of the chart telling me the trend was going to continue.

Has anyone else noticed that the dow jones and yen pairs are running together and the dow seems to influence how the yen moves? I am on the west coast of US so it is early for me but I have been tracking how the yen reacts before the stock market opens. So if you can watch the yen pairs (gbp/jpy for me) from 12 GMT to 13:28 GMT and let me know what you all see. this has been happening since March.

Hi all: I found the post with a tpl attachment. I loaded it but it dosen't have the lsma 3 line. I downloaded the lsma indicator but I can't figure out how you overlay it. I can add it as a stand alone indicator but can't get it on the same indicator box as the rest.

Would appreciate any help with this.

Thanks

Spent1

Hi Spent1

I've just downloaded all the files on page 20 of the thread (both posts) from PP2 and open the template - no problems.

Have you tried the attachments on page 20?

My outcome for Aug 2007 using Dollie on a demo account. The last week or two I was busy with other systems and didn't really trade Dollie. In Sept I'll try and be more active with it.

Here is one of the reasons for taking a look at the Eur/Aud. Here is the move before the AUD unemployment news event. You will see this sometimes that the pair will be active before and after the news event for 24 hours. Here is what you could have done before the event. Good reason to get out before the event because the pair went short with the news. Great look of the indicators. This is a 15 min chart. Triple told you to look for the move. Dynamic was next saying this looks good. Flat macd is another great sign and then the ADX has the green go through the two lines. What more do you want? This pair moved 70-90 pips max.

Hi.
I've followed this thread as the system developed, and I'm a bit disappointed that interest seems to have faded away, as I'm of the opinion that this is one of the best methods I've seen. I've seen how different people use Dollie's method, so I thought I'd add my example just to see if it will inspire others to once again post their methods.
Anyway, as you can see the example below, I'm using a 5m chart with Dollie's basic method in the window below, and adding the Dynamic Zone RSI below that. The surprise is in the main chart window, as you can see, because I've added a Guppy MMA to it! I like Guppy's method, and maybe it's just me, but I think it's a very useful addition to the Dollie method. Look at the first yellow line which is where the green line crosses up over the blue, with the added strength of crossing the red dotted middle band as well. In the window above, everything seems to be crossing the zero line in the right directions at once, so all we have to do now is wait for the lsma to get into the orange/blue zone. I didn't enter there, because the LT band of the Guppy was still trying to complete its turnover, plus, price was getting very near the M2 line. I waited until the open of the candle under the blue arrow, as by then, the Guppy ma's were widening nicely. As you can see, the RSI2 dipped twice under the zero line and the lsma, but I let it ride because the ST Guppy ma's were steady, plus the LT Guppy was still widening. Trusting the Guppy paid off, as I exited the trade just before the second yellow line, as the lsma was leaving the orange/blue zone, plus the price was getting very near the Pivot line. All in all, around 40 pips gained from a Dollie/Guppy combination. On Demo of course, because it'll take a bit of testing before going live. So I'll wait and see, but it looks promising.

Another nice trade on GBP/USD just now, and is a good example of profiting from using one's patience. Again, the vertical yellow line signals the impending trade, just about the same time as the RSI2/CCI is crossing the zero line, with the ASI already crossed and heading down. The Guppy then makes us wait before showing us the approx. right time to enter. The blue arrow shows the entry candle (ST Guppy ma's starting to widen, and price above the M2 line), and by this time, the green line in the DZR window has punched its way through the upper orange band, indicating strength in the price movement. Once again, the Pivot Point showed me the gangplank, which I very gratefully used to jump ship! Another 45 pips all told. It might look as if I left a lot of pips on the table back at the yellow vertical line. This is true, but I look upon this as necessary if one wants to trade the high-probability chances that come along. Still, each to his own.

Hi Eyev

Don't worry, I am still here. Just didn't have time to trade this setup. I am also looking at the previous version of Dollie - just like you.

I am looking at when the Isma crossed into the zone (Arrow A) with the blue line above the pink line) and the ---- line also entering the zone (arrow B). Also waiting for it to cross the 0 line.

Dollie told me that when the two lines are in the zone, one/a trade is pretty save. At arrow C the two lines are leaving the zone - no more trades.

Now I will also look at the Dynamic indicator for confirmation.

I also want to combine this 30min chart with a 5min system as well as 4h system (the other systems we are following) for confirmation. But still working on it.