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Trend Follower 5 Minute System

  • #461
  • Aug 25, 2007 9:33pm Aug 25, 2007 9:33pm
Hello Maheswara. I too had the gray line problem. I originally had HA candles on top of my Candle sticks. I changed to line chart by pushing alt+3 and then had the gray line on top of the HA. To fix this push F8 to bring up properties and uncheck the "chart on foreground" .........thats it.........

Did any one else catch the big climb in the eurusd Friday? ......pipipip Jimdandy
  • #462
  • Aug 25, 2007 10:51pm Aug 25, 2007 10:51pm
I was just going over your trade you posted ThunderWolf and looking at how the short trade would have materialized in the different time frames if at all. For this particular trade 5m was the timeframe to trade in. Of course before you even take the trade at all you check other time frames as you said to get the bigger picture, support, resistance, pivot points etc.... but even if you had been using the 15 minute chart you would have gotten in later and made about 20 pips less. Way to follow a plan!...........cant wait til next week to play with the hybrid. Where have Paul and The Wicker gotten off to? Havent heard from them lately. Surely its not possible that they actually have lives outside of trading?"(Lol).............look forward to hearing from them both...........thanks all...........pipip JimDandy
  • #463
  • Aug 25, 2007 11:43pm Aug 25, 2007 11:43pm
This time for C.E.O. Was just wondering what Laguerre, Macd, settings you had finally settled on. If you removed the EMA Crossover did you lose you audible alert?........................pipip JimDandy.

Mt4 Question
Here's one I havent figured out yet.
Once the alert goes off and that alert window pops up. If i say ok to that window and it disappears, how can i get it back to make sure i read it right. I know i can go to the experts tab in Terminal and but if you have changed periodicity you have to wade thru all the indicator reloads........How can i bring back that window? ok mt4 gurus let me have it............pipip JimDandy
  • #464
  • Aug 26, 2007 12:04am Aug 26, 2007 12:04am
Quoting bubo
Hello T-Wolf,

Thank you for sharing your E.A.S.Y. system - I really appreciate your clear logic and approach with this.

The question I have is regarding your 'hybrid' approach. I understand that your E.A.S.Y. system is a stand alone. When you hybridize it with the Trend Follower M5 System, are you asking that all conditions (of both systems together) are fulfilled for an entry, and as soon as an exit signal from either one or the other system occurs, you quit the trade?

This would be the most conservative approach and I imagine this would really reduce the number of trades and time of exposure to the market. Is this the idea, to gain more accuracy?

Or are you replacing some elements from one system with elements of the other system?

I know you have started giving us some examples and I am trying to work through them - but perhaps you could also answer this more generally how your new hybrid works?

Thank you for all the good work and for sharing - most appreciated.

Hi there Bubo,

With the hybrid of these systems it's not necessary that entry conditions are both fulfilled at the same time. If they are, great, that's a very high probabilitiy trade. When conditions are there for the trend following trade,usually the TDI indicator and HA candles help to confirm the trade . As far as exits go,that can be more discretionary, like exit at a pivot point, support or resistance area, predetermined amount of pips for profit, TDI indicator exit signals , or HA candles getting smaller and turning colors.

I don't think I replace elements of one system with the others. I think both systems compliment and confirm each other. The rainbow Guppy MA's really help to give a clear picture of price action and where it's going. Like trending strongly or getting weaker. Both systems are stand alone on their own but combining the elements of both I believe does increase the overall accuracy of your trading. There are no guarrantees, but the stronger the elements of the system are then the higher the odds are that are stacked in our favor for the probability of a winning trade.

Everyone's ideas and input are welcome here to improve these two great systems. Thanks for your input Bubo
  • #465
  • Aug 26, 2007 12:59am Aug 26, 2007 12:59am
Heres something I've been meaning to do. For those of you who are not blind and dont need blaringly large pivot point lines. Here is the kinder gentler version. Just put it in your indicators folder and overwrite the old one, or if you like to save the old one, you can rename the old one and load this one. If you want to go back to the old one later (because you found out that you ARE blind), rename this one and change the old one back to the original name. .....enjoy........pipip Jimdandy
Attached File(s)
File Type: mq4 Pivot Points Multitimeframe.mq4   45 KB | 1,545 downloads
  • #466
  • Aug 26, 2007 4:54am Aug 26, 2007 4:54am
Quoting thunderwolf
Hi,

The H.A. candles are created off the line chart. The line chart plots the closing prices only on the time frame you're on. Let's say 5M chart, so each 5min. period the line will print to whatever the close price was of that period.

You are seeing the line graph behind the candles. Go to properties on your chart and make sure line graph color is the same as the background color of your chart. That will eliminate the line you're seeing most of the time . When price is going through the rainbow colors you may see little bits of the line here and there, but most of the time it won't be visible.

Very observant of you, that was a good question! Thanks Maheswara, hope that answers your inquiry
Thanks mate , that answers my doubt
To Live is the rarest thing in the world , Most people exist , that is all
  • #467
  • Edited 8:35pm Aug 26, 2007 6:37am | Edited 8:35pm
Hi... better view... and you wont get sleepy.
Attached File(s)
File Type: tpl Easy Trend 5 new color template.tpl   25 KB | 2,257 downloads
  • #468
  • Aug 26, 2007 7:42am Aug 26, 2007 7:42am
Hi T-Wolf,

my weekend going fine, ending soon, back to trading. :> thank u for the time to explain ur 2 trades. i m understanding the mind set u are in before placing the trades.

i hope to undersand more of ur trades and the trading decisions behind them; if u do not mind sharing them.

thanks again for ur help, it has really helped me.

Regards,

Andrew

Quoting thunderwolf
Hello Andrew,

How's your weekend going? Good I hope!
About rules for hybrid system...Hmmm, First thing I do is check higher time frame charts like Daily, 4H , 1H to see overall trend, check for support and resistance areas and see if we're near those areas on 5M chart. For 5M trend follower trades, you follow the rules that Wicker gave us and confirm the trade by checking to see if RSI on the TDI indicator [Traders Dynamic Index] is crossing the 50 line. If going long, the close price of H.A. candle should be equal to or greater than the value of the upper 5 smoothed average channel.
If these conditions are met, enter the trade. I then place my stop loss 5 to 10 pips below the lower 5 smoothed average channel value.

On my post#431 , you can see that trade I took long violated the 5Min. trend following rules because the Laguerre was near the .75 area.
I took the trade because 1.Guppy moving averages were coming out of contraction,and starting to expand, Green was over the Red MA's 2. RSI on TDI came down to 50 then turned back up going through the red signal line and yellow base line. 3. MACD was above 0 , going up 4. Laguerre started curling up towards the .75 line still showing strength. and 5.The Heiken Ashi candles were trending up with no lower wicks, indicating strength in the uptrend. The candle before the candle I entered on closed at a higher value than the value of the upper 5 smoothed hi channel, so I entered on the opening of the next candle.
I closed the trade at 117.03 which was a resistance pivot and the HA candles were smaller and starting to show lower wicks, indicating strength of trend was slowing down. Plus isn't 102 pips profit enough ?

Are you following me?

Next Trade on same post#431 - A counter trend E.A.S.Y. trade

Entered a sell position @ 116.60....Why ? 1. Guppy MA's were starting to contract, yellows crossing over oranges 2.MACD had peaked and was sloping down towards the 0 line 3. Laguerre was below .15 and could not break above it showing continued down trend strength. 4.RSI on TDI crossed below the 50 line. 5.Nice downtrending HA candles , and close of candle was less than lower 5 smoothed channel value

On the 3rd candle after I entered I encountered 4 doji like green candles but they never broke over the upper price action channel smoothed moving average. MACD never went above the 0 line. RSI never crossed back over the 50 line and Laguerre stayed flat on the 0 line.

So I stayed in the trade until 115.86 where I closed and took another 74 pips profit. I closed because we had crossed a pivot at 115.98 and a green candle started forming and I thought we might retest that pivot.

Andrew, I hope I explained all of this good enough for you and I will explain more in future posts.

Take care! .....T-Wolf
  • #469
  • Aug 26, 2007 9:05am Aug 26, 2007 9:05am
Hi Syahmi,
I put your template in my MT4/templates folder, closed & opened my MT4, but it will not appear on my chart. My other templates in my MT4 all work OK. Any ideas?
Thanks
Quoting Syahmi
Hi... better view... and you wont get sleepy.
  • #470
  • Aug 26, 2007 10:16am Aug 26, 2007 10:16am
It should and suppose to be okay. I dont know what happened... Normally I just insert the template into the normal chart... and it goes ok.. I've no idea actually..
  • #471
  • Aug 26, 2007 10:21am Aug 26, 2007 10:21am
This is the link to the Wicker's ebook pdf

http://rapidshare.com/files/51408253/Trend_Follower.pdf.

Thanks TheWicker for sharing...
  • #472
  • Aug 26, 2007 11:47am Aug 26, 2007 11:47am
Hi Syahmi,
Thanks for responding. I finally got your template on my chart and it looks very good. Nice job. Can you help me with something else? I've downloaded the trend followers template and indicators in the compressed zip file from TheWicker's website. I then opened the compressed zip file and copied the template. I tried to paste it to MT4/template folder but the "paste" function doesn't show up so I can't paste it in. I am able to paste the entire compressed zip file into my MT4/templates folder but I don't think that is the correct way to do it either because the template does not show up in my MT4. What should I do?
Many thanks
Jbone
Quoting Syahmi
It should and suppose to be okay. I dont know what happened... Normally I just insert the template into the normal chart... and it goes ok.. I've no idea actually..
  • #473
  • Aug 26, 2007 1:19pm Aug 26, 2007 1:19pm
Hello Everyone,

Regarding Syahmi's " Trend Follower New Color Template ", I want you to be aware that this is not the Trend Follower 5 Min Template as posted by the Wicker. This Template is just a different colored version of my hybrid system template which I posted earlier

I just wanted to clarify that point so there is no confusion for new people coming to this thread looking to download the original Wicker Template.

Thanks......T-Wolf
  • #474
  • Aug 26, 2007 1:32pm Aug 26, 2007 1:32pm
Quoting Syahmi
Hi... better view... and you wont get sleepy.
Hi Syahmi,

Your template is a different colored version of my hybrid system template. Could you please go back to your post and rename the template " Easy Trend 5 new color template", so people won't be confused thinking it's the original Trend Follower 5 Min.Trading System by The Wicker.

If you could edit that, I'd appreciate it, by the way that is a nice colored template Syahmi Thanks.....T-Wolf
  • #475
  • Aug 26, 2007 2:45pm Aug 26, 2007 2:45pm
Hi Again Everyone;

Thanks for the response and questions on the Easy Trend 5 hybrid system. I sincerely hope all of you get good results using these 2 systems together. Please practice with demo trades to get a feel for how this hybrid system works.

One important note here, on my Easy Trend 5 Template, the EMA Crossover signal is set to 5 and 12 not 4 and 8 like the original Trend Follower 5 Min. System. This eliminates a lot of the arrows and alerts on the chart but seems to catch the important ones. The 5 and 12 setting also works well for signalling entries on the Easy Trading part of the system where I'm looking for HA candle closes above or below the 5 smoothed average price action channel.

If you're using Paul's EA for trade alerts you may want to set the EMA Crossover back to 4 and 8 to make sure you get all the Trend Following 5 Min. Trades signals. This week I'll be monitoring the EA on 5 and 12 crossover to see if it catches all the Trend Following 5 Min. Trades.

That's it for now, thanks everyone......T - Wolf
  • #476
  • Aug 26, 2007 3:11pm Aug 26, 2007 3:11pm
Hi,
Is there any reason why this systen could not be traded starting at the US open?
Thanks
  • #477
  • Aug 26, 2007 3:49pm Aug 26, 2007 3:49pm
Hello jbone:
You can trade this system anytime. But its not a good idea to be trading JPY crosses when tokyo is closed. Or the GbpUsd when London and New York is sleeping. I think you get the idea. If it is the wrong time to trade you will or at least should know it. I have been trading the most in the evening to late nite in the Jpy currencies. I am on CST. So only thing open at that time is Sydney, Tokyo, Etc.......but thats when i have time to trade. I do not take a trade if the market is not moving and for that matter the sytem will not give you a legitimate signal either. For the sytem to work the market must be moving, otherwise the indicators will just stagnate and you will get no signal. Bottom line..........if its moving and liquidity is good you can trade it.
Now about your pasting into the Indicators Folder........
You do not paste. You want to COPY the file to the folder. You do not open the file and look at the code and try to paste it. You open the Zip file and Extract it to the folder you want it in. Or Extract the file onto you desktop and then simply COPY the Indicator file itself, not its contents, into the Indicator folder. You do not have a paste option because you do not have any text or graphic selected to paste. Let me know if this helps ........

Thanks Thunderwolf for sharing you emacrossover settings. I was wondering about that.
  • #478
  • Aug 26, 2007 5:04pm Aug 26, 2007 5:04pm
Hi !

Just took a short trade on Usd/Chf, was about 10 mins. late getting in according to signal. This is a Trend Following 5M Trade confirmed by EASY trade signals. I'm expecting some stalling at 1.1992 which is an S1 support but if we break through that we should get down to the 1.1972 area[S2] and 1.1967 area [61.8% retracement of Aug. low to high]. We'll see . Yellow vertical line on chart was Trend Following 5 Alert signal
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 5m.gif Size: 30 KB
  • #479
  • Aug 26, 2007 5:46pm Aug 26, 2007 5:46pm
dear T-wolf, sent you an PM.. please respond..
  • #480
  • Aug 26, 2007 6:35pm Aug 26, 2007 6:35pm
What happened to Pmurfin and the automated EA?????
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