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Cornflower Hourly System

  • #961
  • Sep 13, 2007 1:18pm Sep 13, 2007 1:18pm
I would say not. I guess it is not just necessary to post every trade trying to impress someone. This system is what it is and works for me. I guess the more posts a thread gets the better the system must be?
Check Mate GAME OVER
  • #962
  • Sep 14, 2007 12:29am Sep 14, 2007 12:29am
Quoting Quickdraw
It seems like this thread has been quiet for relatively long time now in terms of particular successes with the Cornflower system. Is there any reason for that?

Also, what has happened to Lever70? She hasn't made a post on this thread since August 15th ... 4 weeks ago! Could there be trouble in Cornflower land??
Lever70's day job is as a college prof. I would suspect preparing for the new semester is part of the reason for no posts.

As for the system,...it works! By the way, I've been looking at using this system for position trades on the 4H chart. Has anybody else looked at using Cornflower on that TF?
  • #963
  • Sep 14, 2007 9:35am Sep 14, 2007 9:35am
Hello everyone. I have been lurking around the forum for quite a long time reading and learning. I really like and actually understand this method (Thanks Lever70!). I do however have one question for everyone who has been trading this way. I don't really see much discussion of which currency pairs everyone is watching for setups. In the initial post Lever said :

"With the possible exception of EURGBP, any pair that involves two of the seven major currencies should be tradable with this system."

Is everyone finding this to be the case? Why not the EUR/GBP? I was just wondering which pairs everyone is trading.

I sit in front of a PC most of the day for work so this method is a good one for me as I can watch the charts. Just want to know which pairs to set up and watch.

Thanks to everybody for all the great input and ideas and I hope to be able to contribute as I start to demo trade this system.
  • #964
  • Sep 14, 2007 10:56am Sep 14, 2007 10:56am
The EUR/GBP has very little movement.

I personally like the AUD/JPY and the GBP/JPY. Both will move quite a bit, however, their spreads are greater (7 pips and 9 pips respectively with my broker,) which seems to turn some traders off. The EUR/USD, GBP/USD. USD/CAD, USD/CHF, and the USD/JPY are all good candidates for Cornflower.
  • #965
  • Sep 14, 2007 11:36am Sep 14, 2007 11:36am
Quoting Clansman
The EUR/GBP has very little movement.

I personally like the AUD/JPY and the GBP/JPY. Both will move quite a bit, however, their spreads are greater (7 pips and 9 pips respectively with my broker,) which seems to turn some traders off. The EUR/USD, GBP/USD. USD/CAD, USD/CHF, and the USD/JPY are all good candidates for Cornflower.

Ahhh...makes sense. I haven't picked a broker yet as I am still demo trading (strat-builder-fx demo and oanda demo) but will probably go with oanda once I do begin trading live and they have decent spreads. Thanks for the reply.
  • #966
  • Sep 14, 2007 3:33pm Sep 14, 2007 3:33pm
Quoting Clansman
Lever70's day job is as a college prof. I would suspect preparing for the new semester is part of the reason for no posts.

As for the system,...it works! By the way, I've been looking at using this system for position trades on the 4H chart. Has anybody else looked at using Cornflower on that TF?
Yes me. Still looking.
.
  • #967
  • Sep 14, 2007 3:46pm Sep 14, 2007 3:46pm
Quoting lever70

Construct a template according to the following settings:
8 EMA (yellow, dotted)
This becomes 10 EMA (1/3 of a week on a 4H chart)

12 EMA (violet)
This becomes 15 EMA (1/2 of a week on a 4H chart)

24 EMA (cornflower blue, hence the name)
This becomes 30 EMA (1 full week on a 4H chart)

72 EMA (khaki)
This becomes 90 EMA (3 full week on a 4H chart)
I have recalibrated the EMAs according to the blue notes on a 4H chart. I have also attached a picture for clarification.
Any thoughts?
The example shows an impressive 900 pips on GJ

Regards
bullrock
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower_4h.gif Size: 16 KB
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  • #968
  • Sep 14, 2007 5:08pm Sep 14, 2007 5:08pm
Quoting bullrock
I have recalibrated the EMAs according to the blue notes on a 4H chart. I have also attached a picture for clarification.
Any thoughts?
The example shows an impressive 900 pips on GJ

Regards
bullrock
I live on the West Coast of the States and trade the London and Asian sessions (needless to say,...I don't get much sleep) and lately I've been considering switching to position trading.

Thanks for posting your recalibrations for the 4H TF. I will be looking at them over the weekend, and will post (or PM if you prefer) any questions or thoughts.

Have a good weekend all.
  • #969
  • Sep 14, 2007 5:25pm Sep 14, 2007 5:25pm
Quoting Clansman
I live on the West Coast of the States and trade the London and Asian sessions (needless to say,...I don't get much sleep) and lately I've been considering switching to position trading.

Thanks for posting your recalibrations for the 4H TF. I will be looking at them over the weekend, and will post (or PM if you prefer) any questions or thoughts.

Have a good weekend all.
You are not alone. I also treat this as a 24 business. . Well based on this we should have only 3/4 trades a month. Have a look at it.

I have included a template for the 4H settings.
Attached File(s)
File Type: tpl cornflower4h.tpl   3 KB | 1,102 downloads
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  • #970
  • Sep 14, 2007 5:43pm Sep 14, 2007 5:43pm
Quoting bullrock
You are not alone. I also treat this as a 24 business. . Well based on this we should have only 3/4 trades a month. Have a look at it.

I have included a template for the 4H settings.
Thanks for posting your template.

I took a cursory look at the chart. It appears you are using the RSI as confirmation to enter. Are you also using it for your exit strategy?

The same (or greater profit) with less time on the charts is definitely a goal worth pursuing.
  • #971
  • Sep 14, 2007 6:15pm Sep 14, 2007 6:15pm
Quoting Clansman
Thanks for posting your template.

I took a cursory look at the chart. It appears you are using the RSI as confirmation to enter. Are you also using it for your exit strategy?

The same (or greater profit) with less time on the charts is definitely a goal worth pursuing.
I do all sorts of funny things with RSI. Pattern recognition, trendlines, support resistance, divergence... Yes I do use for exit and I use it for additional entries or for reentries...
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  • #972
  • Sep 14, 2007 6:18pm Sep 14, 2007 6:18pm
Quoting Clansman
Thanks for posting your template.

I took a cursory look at the chart. It appears you are using the RSI as confirmation to enter. Are you also using it for your exit strategy?

The same (or greater profit) with less time on the charts is definitely a goal worth pursuing.
But its the full stochastics that you can see on the screen I use it for catching overboght/oversold levels. So for instance I have a cornflower setup for entry but the stoch is way out of sync i do not buy or sell i wait until it cools down or just enter with a small position
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  • #973
  • Sep 14, 2007 6:31pm Sep 14, 2007 6:31pm
The triangles are the possible entries supported by the stochs. and the 30EMA. I would buy when the price bounces back from the 30EMA or the 15EMA and the stoch approaches the oversold level. Ellipse is the exit...
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower_4h2.gif Size: 16 KB
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  • #974
  • Sep 14, 2007 6:34pm Sep 14, 2007 6:34pm
The other half was missing..
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower_4h2.gif Size: 29 KB
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  • #975
  • Sep 15, 2007 7:53pm Sep 15, 2007 7:53pm
Quoting bullrock
The triangles are the possible entries supported by the stochs. and the 30EMA. I would buy when the price bounces back from the 30EMA or the 15EMA and the stoch approaches the oversold level. Ellipse is the exit...
What settings do you use for your stoch. thanks
  • #976
  • Sep 16, 2007 3:28pm Sep 16, 2007 3:28pm
Hi All,

I have been using the cornflower for awhile and doing very well. I have the ability to trade during the day and was looking for a Intraday type style.

Well here is what I have been using for the past 2 weeks with great success and thought I would share.

I am using the cornflower setup on a 10 minute chart with the following criteria:

Set up a 10M chart with the Cornflower EMA’s

On your chart, set an alert to signal when the 24 ema crosses the 8 ema AND a second alert when the 8 ema crosses the 72 ema. This covers all of your bases.

For a successful trade, make sure the 8, 12, 24 ema’s are moving in the direction of the move with about a 20% angle or more. The more aggressive the angle of the ema’s the better the possibility of a successful trade and no reversal.

Also, the candle has to be moving UP or DOWN aggressively. The crossing of the 8ema and the 24ema will happen almost immediately at the beginning of the new move.

I ride the move until I see the first close of a red candle on the BUY or a green candle on the SELL, then I get out. Or, I use the RENKO chart to determine when the move has stopped.(Not allot of charting packages have RENKO, mine does, and I love it)


I know this is not how cornflower was originally designed by Lever70, but it's working for me for intraday trading.

MG

http://www.tradecore.us/images/audjpy.gif
  • #977
  • Sep 16, 2007 5:04pm Sep 16, 2007 5:04pm
bullrock.

I have attached 2 4H charts. The first is with your ema calculations based on a week period, and the second is with ema's calculated on a 24 hr period. My goal was to see if we could pick up moves earlier.

My ema settings are 2, 3, 6, and 18. At first blush, it appears to give earlier entries. After looking at the charts for awhile this weekend, I am thinking maybe the 3ema should be changed to a value of 4 to give a bit more separation from the 2ema.

When looking at the charts, please note the vertical line is set at 0000 hours ET on 10 September. The white arrows indicate entries I would not hesitate to take. The blue arrows are what I would consider a little more aggressive entries.

Please note the 2 and 10 ema's are yellow on my charts, however, they do not appear to be that color on my preview.

Let me know what you think.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY 4H Chart1.JPG Size: 62 KB
Click to Enlarge Name: AUDJPY 4H Chart 2.JPG Size: 59 KB
  • #978
  • Edited 5:27pm Sep 16, 2007 5:22pm | Edited 5:27pm
Quoting Matrixxdg
Hi All,


I ride the move until I see the first close of a red candle on the BUY or a green candle on the SELL, then I get out. Or, I use the RENKO chart to determine when the move has stopped.(Not allot of charting packages have RENKO, mine does, and I love it)


MG

http://www.tradecore.us/images/audjpy.gif
Matrixxdg,

I'm a bit confused on the exit. On your sell move, why did you wait until the fifth green candle to exit? On the buy move, the second red candle is a spinning top. Was that part of your reasoning for exiting the buy move?

Are the horizontal lines your pivot points? If so, then that would explain the exits.
  • #979
  • Sep 16, 2007 9:56pm Sep 16, 2007 9:56pm
Quoting Clansman
Matrixxdg,

I'm a bit confused on the exit. On your sell move, why did you wait until the fifth green candle to exit? On the buy move, the second red candle is a spinning top. Was that part of your reasoning for exiting the buy move?

Are the horizontal lines your pivot points? If so, then that would explain the exits.
Yes the horizontal lines are my pivot points. I have been using the RENKO chart set at .01 for my exits with really good success.

MG
  • #980
  • Sep 17, 2007 3:17pm Sep 17, 2007 3:17pm
Quoting Matrixxdg
Yes the horizontal lines are my pivot points. I have been using the RENKO chart set at .01 for my exits with really good success.

MG
Great trades, Matrixxdg!

I tested RENKO (downloaded from FXDD MT4 indicator list - see attached) on my MT4 chart with papamter set at standad 40 but it doesn't give any meaningful info and it's in a separate window. On your chart RENKO looks like draw the S/R lines on the main window and the papamter set is rather small at 0.1 - maybe we are talking about a different animal?

Can you, or anyone on this forum, clarify?

Thanks in advance. RS
Attached File(s)
File Type: mq4 RENKO_2.mq4   9 KB | 779 downloads
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