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Trend Follower 5 Minute System

  • #761
  • Sep 18, 2007 1:07pm Sep 18, 2007 1:07pm
Wiper -

when do you normally exit? or you have a fixed TP ?
  • #762
  • Sep 18, 2007 1:21pm Sep 18, 2007 1:21pm
Quoting cesande
I thought that was the exact thing that Paul's EA did???
I am looking for the same thing so that I can only get alerts that mean something meaningful!
With the exception of the slope check, which is an easy add ,that is exactly what his EA does. I am not sure why it missed this trade however. It maybe because the REDs were a little FLAT and may not have been signalling LONG. I am looking at the code and it looks good. I am going to add the slope check to his code though as I think it is a good "filter" as Wiper suggested.

I wish Paul ahdnt disappeared so we could ask him. Im PMed him on Friday and it looks like he has indeed disappeared, it has been almost a month since he appeared on this thread. Too bad.

BTW. I have a forum buddy who is looking at coding this EA, starting with what Paul has here. I will keep you posted.
Believe and Achieve!
  • #763
  • Sep 18, 2007 1:21pm Sep 18, 2007 1:21pm
Quoting wiper
GBP/USD trade (Entry at 1.9968)
Attachment
Not to kill you with questions Wiper, but was your SL on this trade just below the 1.9944 area? This would be the past support.
  • #764
  • Sep 18, 2007 1:23pm Sep 18, 2007 1:23pm
Great, thanks.
Once done, is there a way to disable the other arrows and only have the ones that meet ALL criteria trigger the arrow and associated alert?

Edit... Just looked... is that the EMA Crossover Signal ??

Quoting sirwolf
With the exception of the slope check, which is an easy add ,that is exactly what his EA does. I am not sure why it missed this trade however. It maybe because the REDs were a little FLAT and may not have been signalling LONG. I am looking at the code and it looks good. I am going to add the slope check to his code though as I think it is a good "filter" as Wiper suggested.

I wish Paul ahdnt disappeared so we could ask him. Im PMed him on Friday and it looks like he has indeed disappeared, it has been almost a month since he appeared on this thread. Too bad.

BTW. I have a forum buddy who is looking at coding this EA, starting with what Paul has here. I will keep you posted.
  • #765
  • Sep 18, 2007 1:29pm Sep 18, 2007 1:29pm
Quoting sirwolf
With the exception of the slope check, which is an easy add ,that is exactly what his EA does. I am not sure why it missed this trade however. It maybe because the REDs were a little FLAT and may not have been signalling LONG. I am looking at the code and it looks good. I am going to add the slope check to his code though as I think it is a good "filter" as Wiper suggested.

I wish Paul ahdnt disappeared so we could ask him. Im PMed him on Friday and it looks like he has indeed disappeared, it has been almost a month since he appeared on this thread. Too bad.

BTW. I have a forum buddy who is looking at coding this EA, starting with what Paul has here. I will keep you posted.
That's a bit the problem I guess, if for example the yellow's are horizontal, the ea will not give any signals.

Is it difficult to program that if's the yellow is flat or going north, it still generates a buy arrow for long signals?

I would give it a try because very often, good signals occur but the ea doesn't signals because the very short ma's (yellow's are flat)

Thanks,
Wiper
  • #766
  • Sep 18, 2007 1:29pm Sep 18, 2007 1:29pm
Quoting cesande
Not to kill you with questions Wiper, but was your SL on this trade just below the 1.9944 area? This would be the past support.
Yes, it was
  • #767
  • Sep 18, 2007 1:30pm Sep 18, 2007 1:30pm
Quoting cesande
Great, thanks.
Once done, is there a way to disable the other arrows and only have the ones that meet ALL criteria trigger the arrow and associated alert?

Edit... Just looked... is that the EMA Crossover Signal ??
Yes, the arrow is the crossover
Believe and Achieve!
  • #768
  • Sep 18, 2007 1:40pm Sep 18, 2007 1:40pm
Made another 40 pips on the EUR/USD because of 50 point ratecut.
  • #769
  • Sep 18, 2007 1:50pm Sep 18, 2007 1:50pm
my gbp signal trade on the 3rd lot is up 170 pips. pity I am still in demo phase on this system.
  • #770
  • Sep 18, 2007 1:57pm Sep 18, 2007 1:57pm
Quoting FxConqueror
my gbp signal trade on the 3rd lot is up 170 pips. pity I am still in demo phase on this system.
What are you using as your "staged" exits criteria?
Believe and Achieve!
  • #771
  • Sep 18, 2007 2:50pm Sep 18, 2007 2:50pm
"staged" because this is a new system and like all new systems you ought to demo first with strict rules. once I get the signal I look where the first res or support is form the entry price. if it is more than my risk I take the trade.
of course once I am in profit for 30 pips I bank one lot and lower my risk on the stop loss. in the case of the fundy I adjust to breakeven. Such a volatile fundy like FOMC can move 100 pips easily so give the trade room to move.
I am a technical trader and generally do not use indicators. only fibs, trend lines, supp/res and buy zone sell zones strategies.
  • #772
  • Sep 18, 2007 3:00pm Sep 18, 2007 3:00pm
another good signal came on the USDJPY. I was on a phone call so I missed the trigger on this one.
but here is the attached chart. It got to first resistance within 20 mins.
very little risk compared to where TP1 would be.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy i missed onthe phone 9.18.2007.gif Size: 24 KB
  • #773
  • Sep 18, 2007 3:14pm Sep 18, 2007 3:14pm
Quoting FxConqueror
another good signal came on the USDJPY. I was on a phone call so I missed the trigger on this one.
but here is the attached chart. It got to first resistance within 20 mins.
very little risk compared to where TP1 would be.

I made this trade all looks good to me.
Closed half at 116.10 and then move the s/L to 116.12
I was stop out before hitting my next target 116.35

Good trade ...
  • #774
  • Sep 18, 2007 4:26pm Sep 18, 2007 4:26pm
Quoting FxConqueror
another good signal came on the USDJPY. I was on a phone call so I missed the trigger on this one.
but here is the attached chart. It got to first resistance within 20 mins.
very little risk compared to where TP1 would be.
How come you took this trade? MACD was bellow zero.
  • #775
  • Sep 18, 2007 4:38pm Sep 18, 2007 4:38pm
MACD at next green candle was above 0, so that made it a valid signal.
  • #776
  • Sep 18, 2007 4:43pm Sep 18, 2007 4:43pm
I was wondering if anybody could make the signal for trading futures. I want to test it on e-mini on tradestation platform.



thanks,
fxtrain
  • #777
  • Sep 18, 2007 5:38pm Sep 18, 2007 5:38pm
Hi All,

Im trying to follow this system, but feel its best to learn the mechanics of it, than just to follow the ea blindly.

Looking at the template im a little confused by the Support and resistance Pivots.

I understand the basics behind the standard pivots but the Pivot point Multi Time Frame indicator draws many lines, could someone explain them briefly and how they are used in this system (i.e which would you target for tp`s).


Also the Fibonacci Pivots. What are these? How significant are they for trading this system? I don't see them mentioned at all in the rules?

I have attached 2 images 1 showing the template with Pivot Points Multi Frame (no fibonacci pivots) and 1 showing the opposite.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pps.JPG Size: 217 KB
Click to Enlarge Name: fps.JPG Size: 204 KB
  • #778
  • Sep 18, 2007 6:08pm Sep 18, 2007 6:08pm
karluk,

your charts show two things:

pivots - daily, weekly and monthly pivots. as you know pivots have these values: R2, M4, R1, M3, pivot m2, s1, m1, s2
Ms are just mid-points and S = support and R = resistance.

as for the other chart I don't know If I would term them fibonacci pivots.
a fib swing just requires two points and the there are prominent levels between those points which act as hidden levels of supp or resistance... IN this case I see them more as resistance and support from where the current price is trading...From the current candle go back and above and look for 3 higher high points and look back and down for 3 lower low points and there you have your R1 - 3 and S1 - 3.. to a degree its subjective depending on your rules whats S1 from S2. since some people may pick levels where there was heavy support and others may just pick the first point where price settled in the past. hope that helps.

Wicker can fill you in some more.
  • #779
  • Sep 18, 2007 6:15pm Sep 18, 2007 6:15pm
Karluk,

I am looking through the code for fib pivots and to be more precise here's what I see.
R3 = 100% of yesterdays range above the pivot
R2 = 61.8% of yesterdays range above the pivot
r1 = 38.2% above the pivot.
the reverse for S1-3.
As you may know those % corresponds to fibonacci levels of support and resistance where price may react around.
Interestingly, look how those levels really have supp or res around them when you scroll your charts back in time.
  • #780
  • Sep 19, 2007 6:41am Sep 19, 2007 6:41am
very great system
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