Pivot Point Squeeze, high probability system

Hi all,

This is a system I have been trading for a while and thought I would do as my mum taught me and share.

It is a pivot point system that takes into account constricted activity around these points and helps you reach a conclusion as to trade or not. It is a high probability system so the signals do not come around all the time but when they do, you can trade fairly heavily knowing it has the best chance of success. It seems to work best on EUR/JPY but it works on other pairs as well. Here are some pics of the entries it suggests. I will post the PDF soon.

http://img442.imageshack.us/img442/2650/spotfxeurjpy1http://img111.imageshack.us/img111/4...eurjpy1ra8.png

The Red bars up the top signal a sell


http://img101.imageshack.us/img101/5...eurjpy2hm3.png

The Green bars indicate a buy signal.

Let me know what you think...

GCTrader

*Updated doc file on page 3, post#33*

This looks very interesting. Looking forward to your PDF!

It has been working well and hope it keeps on working. The indicator up top looks simple but quite a bit of programming went into that. The first condition it acts on is if trading is narrow enough to be considered constrictive. This also depends on the timeframe used. Then the entry signal is given from the first stage when there is a confirmed breakout from this narrow band. The second stage compares this signal to the pivot points.

If you have been studying pivot points, you know that they are a powerful tool all by themselves. The exit that I have been using is a simple reversal in the MACD histogram. It seems to work quite nicely but you can also stage out your profits at the corresponding support or resistance lines. Either way works well. The bollinger bands on the chart are there just to illustrate the narrowing of the trading range. The bollinger bandwidth is the main indicator of the narrowing.

It will all be outlined in the PDF as well as the indicator code.

GCTrader

Look interesting.
I just went to the website IT-Finance.com
I just wondering about the system that they provide.
How much you pay for the system?
Look forward from you.

Thank you.

Hi,

Can you please post the PDF?

Thanks!

Here it is in word format, im sure it will raise more questions then answers especially with the code.

fire away...

GCTrader

Looks very interesting, is all the indicators available with a demo account also?

The indicators should be available with a demo account, not sure. Depends who your with I guess. IT-Finance(the charting package you see) comes packaged with my broker so I dont pay anything for that service.

GCTrader

Nice trade that has been signaled 7 hours ago that is still going strong! The pink bars down the bottom show a short where the entry does not coincide with the pivot point as the red bars at the top indicate. I still went in anyway, just not with as many units...glad I did!!!

http://img151.imageshack.us/img151/8...eurjpy1qq3.png

I know backtesting doesnt really mean that much but here is a detailed report backtested for the previous 3 months.

http://img249.imageshack.us/img249/2...board01bd6.jpg

Great looking system.
Who is your broker? I'm going to see if I can download a demo.
Thanks

You can get the charts from here:

www.it-finance.com

but setting up all these indicators is another issue.

Hi there and thanks for posting.

Can you confirm your broker and any minimum trades/month you have to do for the charts or if it's part of the platform.

The IT-Finance site has many options, so can you offer any further info on the version and what else may be needed beyond the basics to construct the charts. I'm assuming the code is something you've done personally rather than an available option.

Can you also offer backtest results beyond 3 months, say 1 or 2 years? Also, are the backtest results accurate so far as you understand?

I personally don't have an aversion to paying for charts, so I'd like to understand what may be required to set up using this software rather than all the possible translation to MT code.

Thanks again for posting and your time.

this looks very interesting......any idea on how to make it work in MT4????? I do not know how to do the code at all

Thanks guys!

My broker is IGMarkets. They do a great job, no problems as of yet and you get quite alot of extras like that charting package. Although they are a market maker they are regulated since they do business in Australia(where i am) so cant do the dodgy as so many do.

the charting package comes free with IG, but if you keep going with FX trading you will end up trading futures or options on futures and will have to pay for charts.

I dont know about MT4 programming but I think they are fairly similar.

GCTrader

Hench,

Code error is due to RETURN TRIGGER. Delete that and it will work fine. You can copy and paste the first part of the code and that will give you the indicator without the pivot point confluence.

GCTrader

Even without the custom indicator, you can setup any charting package to see when to enter the trades. Which is what I did before I spent the time coding it.

With the settings described in the doc. file you still can see perfectly clear when to enter. Here is a pic with entries circled.

http://img85.imageshack.us/img85/679...eurjpy5er5.png

If any live entries are signaled, I will post pics of entry live

your system looks good but time will test its success, I will following your system and good luck to you

What happened to the green/red bar indicator in Post #17? You remove it sometimes? For what reasons?