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Dollie's Safe Pips Indicator

  • #641
  • Nov 27, 2007 7:30pm Nov 27, 2007 7:30pm
Quoting HelloDollie
Many thanks to everyone who has posted in the past and helped me along my way. In appreciation for all your efforts I will share an indic I made out of several indic and so far its been a safe making pips indicator for me. Please feel free to add comments how to improve it even more.

Use M4 charts with black background

Add the Abosolute Strength Indicator :
Make the colours (Inputs) as follows: Black, Black, Black, DeepPink

Overlay with RSI 2 (DeepSkyBlue) Apply to : Close
Levels : 10 and 90
Style: Silver ( dotted lines)

Overlay with Woodies CCISuper
Make the colours ( Inputs) as follows: Black, White, Black. Black, Black.
Levels 0
Style : Tan

Overlay with LSMA

Read the indic as follows:

On 30 min charts and higher TF's it works well for me. I do day trading I watch a position and close when a move is over, This indicator gives good signals several times a day on 30 mins and 1h TF's.


For a BUY :

When Blue and Pink line crosses and Blue is above Pink
Then wait till Lsma line( green, yellow, red line) goes in between Pink and blue line
Also wait till white line( cci6) goes in between Pink and blue
Its very safe to enter when LSMA is above 0
And when white line is above 0 as well
Its very safe when blue and white line trades almost on top of each other and going sharply in the same direction through 0

More aggresive traders can just use the white line as a guide when it goes through 0 up its a buy

When blue and Pink crosses for a buy, make sure white line is above 0..if it is under 0 the move might be very small dont be greedy here just take a few pips or stay out and wait for white to go above 0


Exit: On a Buy


- When the Blue line goes above the 90 dotted line .. keep a close look as it shows now over bought. Also look at the Pink line when its near 10 or under, its also shows its time to close for profit.


- When LSMA line goes out between Pink and blue
Hi,
This indic does not take care of the sell signals why? Is it only Buy signals we would be looking out for?
Looking forward tp reading your explaination on that.
Arnold
  • #642
  • Nov 27, 2007 7:39pm Nov 27, 2007 7:39pm
Attached is another 30+ pip profit. I started on the 1min chart (as I always do) but switched to the 5min chart while in the trade because everything said go and it paid off by at least 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy11274.gif Size: 51 KB
  • #643
  • Nov 27, 2007 10:20pm Nov 27, 2007 10:20pm
Quoting Arnoldchidi
Hi,
This indic does not take care of the sell signals why? Is it only Buy signals we would be looking out for?
Looking forward tp reading your explaination on that.
Arnold
Welcome to the thread. Dollie was simply telling one side of the story, as the sell signals are the reverse. I can see that you are new to FF, so I will ask a favor. Please we are not being rude, but we ask everyone who is interested in this fantasic system to read the entire thread, paper trade it first for a month or more, and you will learn so much. 99% of the questions you will ask have already been answered. It seems to be complicated at first but it will make sense. Look forward to your future posts.

Yes I am a pirate Two hundred years too late The cannons don’t thunder There’s nothing to plunder I’m an over 40 victim of fate Arriving too late Arriving too late Jimmy Buffett

So now I plunder pips
  • #644
  • Nov 28, 2007 8:01am Nov 28, 2007 8:01am
How long does Thanksgiving last anyway?

I always thought it was just one day!

jcblcs79........not criticizing or anything, mate, but that BB thing looks awfully complicated. It's very impressive, no doubt about it, and I wish you luck with it, but for me, it's starting to take the "simplicity" away from Dollie's original system. But hey, that's just me, mate. Good luck and I hope you harvest loads of pips with it.

Cheers
  • #645
  • Edited 10:58am Nov 28, 2007 9:55am | Edited 10:58am
The market can seduce you to sleep just like a woman. Nothing was happening right before the london session so I decided to go to sleep. Me so dumb. The gbp/jpy moves over 300 pips while cable moves 50. Here is an example on the H1 chart where the triple hull doesn't look great but there is a flat macd before the move, the DZ is perfect, and surprise: the ADX actually looks great. See how the ADX has the green line go through the blue and pink at the start of the move. That is an excellent sign to take the trade. Notice also on the triple hull, the RSI 2 blue line, look at when it is overbought or oversold. See how that seems to be the peak of the move and then the reversal starts. It is not 100% but something to look at. Also see how the 15 min chart looks great also, including the ADX. This is why I encourage my friends out there to think about longer time frames. Just get one of these moves a week.

Yes I am a pirate Two hundred years too late The cannons don’t thunder There’s nothing to plunder I’m an over 40 victim of fate Arriving too late Arriving too late A Pirate looks at 40 by Jimmy Buffett

So now I plunder pips
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: steve 28.gif Size: 22 KB
  • #646
  • Nov 28, 2007 12:43pm Nov 28, 2007 12:43pm
Eyevoltage -

Thanks so much for posting that indicator of yours that makes it possible to produce a 10 minute chart or a 2 H chart. I do find that very useful and use it now all the time. My trading has improved a lot since I can see more tf charts.
  • #647
  • Nov 28, 2007 3:49pm Nov 28, 2007 3:49pm
Quoting Dollie
Eyevoltage -

Thanks so much for posting that indicator of yours that makes it possible to produce a 10 minute chart or a 2 H chart. I do find that very useful and use it now all the time. My trading has improved a lot since I can see more tf charts.
I'm happy to be of service. If it's increased your pip intake then it was all worthwhile.

Just out of curiosity, do you happen to be Hello Dollie, the originator of this thread?

Just wondering...........

Cheers for now.
  • #648
  • Nov 28, 2007 3:58pm Nov 28, 2007 3:58pm
Lol Yes its me ! :-)

I had great difficulties in the past to log on, I can read the postings but couldnt post. Today I made a huge effort to set my User Control Panel to a setting where I can actually log in. Thanks to all who kept this thread alive and for all the positive feedback on this system to make it even better.

Lately I almost exclusively trade the EuroYen with good results. I find that the spread is better and it moves a little bit more than the GBPUSD.
  • #649
  • Nov 28, 2007 4:27pm Nov 28, 2007 4:27pm
Post # 560 on page 38 of this thread refers:

Dear jcblcs79

You wrote

"Losing Trade
I am posting this to show anyone new to this thread that although this system is very reliable it isn't 100% accurate... NOTHING IS!!! "

I want to share with you that before you enter, you need to be aware of Overbought and Oversold conditions and keep that in mind. That is why part of the rules of this system is to have horisontal lines on levels 90 and 10.

If you had overlaid the 90 and the 10 lines on your chart, you would have seen that it shows Overbought and it was not a good idea to buy when all 3 lines are high up there near the top, its already overbought.

Hope this helps to clear up for you why that was a losing trade.
  • #650
  • Nov 28, 2007 8:28pm Nov 28, 2007 8:28pm
Quoting Dollie
Lol Yes its me ! :-)

I had great difficulties in the past to log on, I can read the postings but couldnt post. Today I made a huge effort to set my User Control Panel to a setting where I can actually log in. Thanks to all who kept this thread alive and for all the positive feedback on this system to make it even better.

Lately I almost exclusively trade the EuroYen with good results. I find that the spread is better and it moves a little bit more than the GBPUSD.
It's a real pleasure meeting you at last, and to have the opportunity of thanking you for sharing such a wonderful method of trading. At the same time, I do hope that you didn't mind the tweaks here and there that were made to your brain-child? I like to refer to it as "method evolving", as I'm sure that everyone does a little bit of adjusting and refining to any system they come across, in order to make it work that bit better for themselves.

I enjoyed reading the thread from the start, and like pip pirate2, I was disappointed that it seemed to grind to a halt. Which is why I started posting charts of how I traded your method, in the hope that it would stimulate some fresh interest. At the same time, pip pirate2 was doing the same with his 1H and 4H "dollie's new method" charts, at the same time helping me along with understanding how it all worked.

Anyway, it's about time I hit the sack.................2.20am here in the UK!

By the way, we think alike in that we seem to have a keen interest in EUR/JPY and Cable. They're the main two that I like to keep an eye on.

See you again soon, I hope.
Cheers for now.
  • #651
  • Nov 28, 2007 9:04pm Nov 28, 2007 9:04pm
I am going to add those lines to my RSI and keep an eye on that. It is great to have you back here and hope you can continue to add to the great thread. I said it in an earlier post but I'll say it again... Your original Setup saved my account. I have been scoring many green pips as of late and plan on doing so for the foreseeable future.
  • #652
  • Nov 29, 2007 1:48am Nov 29, 2007 1:48am
Quoting Dollie
Lol Yes its me ! :-)

I had great difficulties in the past to log on, I can read the postings but couldnt post. Today I made a huge effort to set my User Control Panel to a setting where I can actually log in. Thanks to all who kept this thread alive and for all the positive feedback on this system to make it even better.

Lately I almost exclusively trade the EuroYen with good results. I find that the spread is better and it moves a little bit more than the GBPUSD.
Hi Dollie

Wellcome back. Nice to see you again. I thought I frustrated you so much last time we talked that you decided to not be associated with "stupid" newbies like me (LOL). Don't worry, it's going much better now.

So glad you are back.

Keep it up - from the old-Kovsie.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #653
  • Nov 29, 2007 11:00am Nov 29, 2007 11:00am
Glad to see you posting again. I have been trying to keep this wonderful system alive for more people to see it and understand it. On the flip side, I have been fighting my own scalping demons (just my opinion of my trading behavior as it doesn't work for me but may work for you) and should have listened to you a long time ago about trading the H1 and H4. I'm closer to success in that area. I'm making all of this too hard and need to get out of my head and just trade. Thanks again for this system.
  • #654
  • Nov 29, 2007 12:03pm Nov 29, 2007 12:03pm
Here is a perfect trade based on the Dollie I just got out of. I have incorporated the 10 and 90 levels and used them as my exit. Based on this trade the LSMA and RSI were telling me that this pair was becoming overbought.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1129.gif Size: 45 KB
  • #655
  • Nov 29, 2007 12:45pm Nov 29, 2007 12:45pm
Quoting jcblcs79
Here is a perfect trade based on the Dollie I just got out of. I have incorporated the 10 and 90 levels and used them as my exit. Based on this trade the LSMA and RSI were telling me that this pair was becoming overbought.


good work ...


but i want to know the setting ( input) of your LSMA

GOOD LUCK

  • #656
  • Nov 29, 2007 1:13pm Nov 29, 2007 1:13pm
I set my LSMA to 10. It's default setting is 5 but it changed colors too much for me. I personally feel LSMA 10 gives more of a flow. Hope this helps.
  • #657
  • Nov 29, 2007 2:09pm Nov 29, 2007 2:09pm
Quoting jcblcs79
Here is a perfect trade based on the Dollie I just got out of. I have incorporated the 10 and 90 levels and used them as my exit. Based on this trade the LSMA and RSI were telling me that this pair was becoming overbought.
Excellent trade! Have you explored instead of the usd/cad looking at the eur/cad? Much better pair. That same move had the eur/cad open at 1.4657 and peak at 1.4745, for 80-90 pips. I like to share the eur/cad (and eur/aud) with others. Just a thought but you still have pips. Thanks for sharing.
  • #658
  • Nov 29, 2007 2:25pm Nov 29, 2007 2:25pm
Quoting jcblcs79
I set my LSMA to 10. It's default setting is 5 but it changed colors too much for me. I personally feel LSMA 10 gives more of a flow. Hope this helps.
A nice trade with a nice result. I don't usually watch this pair, but I'll have to take notice of it in future. I also like how you sat up and took notice of Dollie's advice re the OB and OS zones. Paid off big time for you, mate, eh?

Re your comment re the lsma3 and its setting. I have to admit that I've never thought of altering it before, but I just tried it and it smooths it out a lot more, which is more pleasing to the eye. However, I stand by my comments re the lsma3 in that it's always late giving an entry signal for a short trade. Long trades are not usually a problem, but for some reason, it just seems to be lagging a lot more. What I do is wait for the RSI2/CCI6 to cross down through the zero line and then enter, irrespective of the lsma3, and it usually does the trick. I remember Dollie saying how once the RSI2 and the CCI6 had crossed, then the trade was usually a safe one. The lsma3 still gives a good exit signal as it exits the pink/blue zone and, as you demonstrated, even better when it's in the OB (or the OS) zone!!

All in all, nice one, mate.
Cheers
  • #659
  • Nov 29, 2007 3:16pm Nov 29, 2007 3:16pm
Thanks guys!!!

Pirate, I use StrategyBuilderFX for charts and they do not have the Eur/Cad cross (I trade on MB Trading and they don't offer charts). What charting service do you use?

Eye, I don't think it is the LSMA that lags on a short but the Absolute Strength that causes this problem. For whatever reason it is rare to see the "purple line" spike up over the Zero Line and then stay there especially during real time trading. I'm with you and refer to the CCI to confirm when I enter a short.

My basic strategy is too look over all the charts previous 3 - 4 days to see which are the most volatile and then ride those until they get flat and then move on. It just so happens that the USD/CAD has been moving a lot lately as is the Eur/Yen and the always scary GPB/YEN.
  • #660
  • Nov 29, 2007 6:10pm Nov 29, 2007 6:10pm
Hey: I use Interbankfx for my trading platform. It's a meta 4 platform. I know that MB trading does trade the eur/cad. If you are interested I will teach a little bit more on that pair. What time zone (in GMT if you like) are you in? The cad pairs move a lot before the US session.
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