Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 55 | Forex Factory

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Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

  • #1,081
  • Oct 9, 2007 4:16am Oct 9, 2007 4:16am
Quoting forexbunny
Good afternoon folks ,

I think this will work well also on AUD/ JPY NZ / JPY etc but i dont see these charts listed in metatrader ??? does anybody know of any other trading platform that has these pairs using metatrader ? AUD / JPY seems to respond well to trendlines and its not so volatile as other yen pairs.
Good work going on here everyone - keep it up


Mark
ys, mark this strategy works on all time frames and for any pair
  • #1,082
  • Oct 9, 2007 4:35am Oct 9, 2007 4:35am
Quoting imransait
can u send me the pic, maybe due to some previous resistance at that area, i may have recommended a trade or maybe a typo
Your picture which can be found at http://www.forexfactory.com/attachme...&stc=1&thumb=1 Please, explain why 4th approved signal (2nd entry short) is good and 6th (marked with 3rd X) is not.
  • #1,083
  • Oct 9, 2007 4:57am Oct 9, 2007 4:57am
Quoting LesioS
I know that EA has no intelligence But in near future I'm going to change programming language from MQL4 to something more sophisticated & then some AI could be incorporeted to EA I'll give you a note...
On M5 I can use 2 Lags with multi-conditional entries as you described it. But in fact I wanted to use M1 chart for scalping.
Could you explain it: ones you've shown on picture valid entry short when Lag-1 was crossing down 0.85 & Lag-2 was above 0.30 and pointing up; why it was valid signal?

Hi Lesio,

I admire your insight, I would just want to support what Imran said about the conflict of entry and exit using the two Lag. I feel it would be better off with just one lag setting for both entry and exit and with backesting it has shown an appreciable success and I feel this should be okay.

0403
  • #1,084
  • Oct 9, 2007 5:11am Oct 9, 2007 5:11am
Quoting imransait
Why dont u use only one Lag to enter and exit trade in the EA, this may work and use a setting of 0.85 and use it only on 5 min and higher time frames for success. Let me know if you can do it
So even entry/exit conditions mentioned in http://www.forexfactory.com/showpost...&postcount=200 are too strong for EA?
And why should I use only Lag 0.85? It's for exits... For entries is Lag 0.55...
  • #1,085
  • Oct 9, 2007 5:17am Oct 9, 2007 5:17am
Quoting LesioS
So even entry/exit conditions mentioned in http://www.forexfactory.com/showpost...&postcount=200 are too strong for EA?
And why should I use only Lag 0.85? It's for exits... For entries is Lag 0.55...
that was only for manual exits, for automation, its need lots of AI to recognise those patterns. But if you feel u can make a EA which can do more then 80% good with the same rules on post, then pls go ahead and let us also do the testing with your EA
personally, i feel that with a single Lag of 0.85, ur success rate can go as high as 90-95% using the 5min chart, 1 min is too fast and needs manual intervention for success
  • #1,086
  • Oct 9, 2007 5:24am Oct 9, 2007 5:24am
Quoting imransait
that was only for manual exits, for automation, its need lots of AI to recognise those patterns. But if you feel u can make a EA which can do more then 80% good with the same rules on post, then pls go ahead and let us also do the testing with your EA
personally, i feel that with a single Lag of 0.85, ur success rate can go as high as 90-95% using the 5min chart, 1 min is too fast and needs manual intervention for success
Imran, if I understand you clearly I should use only Lag 0.85 with following entry signals:

  1. long when Lag pierces 0.15 up
  2. short when Lag pierces 0.95 down

Exits on opposite entry signal or on TP. Any additional conditions? Do Lag need to touch 1.0 and 0.0 levels before signal?

  • #1,087
  • Oct 9, 2007 5:34am Oct 9, 2007 5:34am
Quoting LesioS
Imran, if I understand you clearly I should use only Lag 0.85 with following entry signals:

  1. long when Lag pierces 0.15 up
  2. short when Lag pierces 0.95 down

Exits on opposite entry signal or on TP. Any additional conditions? Do Lag need to touch 1.0 and 0.0 levels before signal?

yes, use these settings , except that short when lag pierces 0.85

on 5min, you can keep tp as 50 -70 pips

lags need to touch 1.0 and then reverse for shorts and 0.0 for longs
  • #1,088
  • Oct 9, 2007 5:37am Oct 9, 2007 5:37am
Quoting imransait
yes, use these settings , except that short when lag pierces 0.85[cut]
Of course, I've pressed wrong key I've put this conditions to EA & give you a feedback.
  • #1,089
  • Oct 9, 2007 5:39am Oct 9, 2007 5:39am
Look below, such a classical example of price finding support as per the pivot indicator, and as price is below pivot , bias is bearish below daily pivot

also testing the lag indicator which shows when to long and short made by a very talented member, once testing is over this week, we will release it here
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.gif Size: 22 KB
  • #1,090
  • Oct 9, 2007 5:44am Oct 9, 2007 5:44am
Quoting LesioS
Of course, I've pressed wrong key I've put this conditions to EA & give you a feedback.
send me the ea thru my email, PM me for that so we can test it jointly
  • #1,091
  • Oct 9, 2007 5:46am Oct 9, 2007 5:46am
Quoting imransait
send me the ea thru my email, PM me for that so we can test it jointly
OK, just after signals update.
  • #1,092
  • Oct 9, 2007 6:11am Oct 9, 2007 6:11am
Quoting imransait
send me the ea thru my email, PM me for that so we can test it jointly
If the EA does follow the correct rules of the system can one of you guys post here so we can all test and provide feedback?

Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,093
  • Oct 9, 2007 6:15am Oct 9, 2007 6:15am
Quoting matrixebiz
If the EA does follow the correct rules of the system can one of you guys post here so we can all test and provide feedback?

Thank you
Imran has shared idea, I don't see any obstacles to share EA build on this idea. Am I right, Imran?
  • #1,094
  • Oct 9, 2007 6:34am Oct 9, 2007 6:34am
Quoting LesioS
Imran has shared idea, I don't see any obstacles to share EA build on this idea. Am I right, Imran?
yes, thats what i want all to contribute to this idea and make it fool proof
  • #1,095
  • Oct 9, 2007 6:36am Oct 9, 2007 6:36am
Quoting LesioS
Imran has shared idea, I don't see any obstacles to share EA build on this idea. Am I right, Imran?
The only obstacle in posting the EA now I see would be if the EA didn't follow the correct rules of the system, so there wouldn't be a point right now posting a "work in progress" EA until the bugs are worked out. Hope soon Unless imransait you had something that you wanted somthing forward tested, I can do that for you. Thanks guys
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,096
  • Oct 9, 2007 6:50am Oct 9, 2007 6:50am
HI all...
I try to follow this variation to....for big moove!!!
Lag 2 only plot on half part of sexy stocastic....seems good!!
Buy when lag2 start up from 0,15 but red stoch is up blue stoch out of overbought and visa versa for sell...
Attached Image (click to enlarge)
Click to Enlarge Name: scalp.gif Size: 30 KB
  • #1,097
  • Oct 9, 2007 6:55am Oct 9, 2007 6:55am
The pivot points overlap the fib areas almost to the pip. Take the LL 236.65 and HH 239.71. the 78.6 area is the S3 237.33, could see a possible bounce from there.
  • #1,098
  • Oct 9, 2007 6:59am Oct 9, 2007 6:59am
Quoting bullseye
The pivot points overlap the fib areas almost to the pip. Take the LL 236.65 and HH 239.71. the 78.6 area is the S3 237.33, could see a possible bounce from there.
yes, bulls eye...its very accurate and when combined with fibs , you can actually set ur TP and take a break and come back and ur TP is hit
  • #1,099
  • Oct 9, 2007 7:07am Oct 9, 2007 7:07am
one more chart of pivots, see how price bounce back from the weekly pivot
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.gif Size: 25 KB
  • #1,100
  • Oct 9, 2007 7:07am Oct 9, 2007 7:07am
Sorry IMRANSAIT
what you do in this case....you take long now or you follow only trend?
So you don't cath this signal??
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