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Attachments: Trend Hugger System
Exit Attachments

Trend Hugger System

From looking through the past month of charts with the OsMA, the following pairs seem to be the best fit for this system. Some of the pairs will royally screw you --- gbpaud and the chf pairs for example.

gbpjpy (still the very best in terms of profitability)
nzdjpy
eurjpy
usdcad
audusd (better on the 30 min chart)
crapola
Quoting frankiev2
Including spread? Broker had 227.15 but I had to buy back at 227.21 (8 pip spread) highest bid price was 227.23!!
I had activated the automatic MT4 trailing stop.
It added the spread onto the 227.21. The bid price would have actually had to hit 227.21 before it would have taken me out.
This is how I'm seeing actual GJ situation, please Tkimble post if something is wrong in my picture
Attached Image (click to enlarge)
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Quoting james275
When the OSMA bar changes direction, and that bar closes, you enter in that direction . Maybe price goes against u for a while and u are stopped out (50 pip) but u will do well in the long run. Make sense? Tk, please correct me if i have it wrong..
Still puzzled...the next bar can be only slightly down. Do you wait for the close of the first bar (in the opposite direction) and verification of the second bar (opening in the same changed direction) for entry? My point is that when you look at OsMA in real time, each bar is only slightly different when it changes direction. Do you look for a greater value change? So you can only enter at the top of an hour, correct? So if you get stopped out, do you have to wait until the current trend reverses (this would probably be many hours, right? Thanks.
Quoting skyline
This is how I'm seeing actual GJ situation, please Tkimble post if something is wrong in my picture

I'm new to this thread today but this is what I was thinking as well. Interested in what those more experience have to say though.

Also, for those who have been following this for a while, I went back and paper backtested all of this week for GBPJPY. Doesn't account for slippage as I was using the optimal entries and exits, but I show +761 pips. Does that sound right?
Quoting bjk2801
Still puzzled...the next bar can be only slightly down. Do you wait for the close of the first bar (in the opposite direction) and verification of the second bar (opening in the same changed direction) for entry? My point is that when you look at OsMA in real time, each bar is only slightly different when it changes direction. Do you look for a greater value change? So you can only enter at the top of an hour, correct? So if you get stopped out, do you have to wait until the current trend reverses (this would probably be many hours, right? Thanks.

I think Sky has it right. Look at his post just above and very nice screen shot that shows it. Let see if i can answer some other questions.

1. Enter at the close of the first bar showing an OSMA (not price) in the oppostie direction, there is no verification of the second bar. Or you could say enter right at the OPen of the bar following the change.

2. The amount of change of the OSMA bar may help you recoqnize when the signal bar may come, but wait for the close of the bar. TK also will consider it a signal when the OSMA bars are equal.

3. Yes, for the 1 hr system, you would enter at the top of an hour when a signal is received.

4. I don't think TK has answered what he does if he is stopped out, and how would get back in. TK? I know what i do, but i am still looking at 2 different ways.

Hope this helps...

Jimno
Quoting james275
I think Sky has it right. Look at his post just above and very nice screen shot that shows it. Let see if i can answer some other questions.

1. Enter at the close of the first bar showing an OSMA (not price) in the oppostie direction, there is no verification of the second bar. Or you could say enter right at the OPen of the bar following the change.

2. The amount of change of the OSMA bar may help you recoqnize when the signal bar may come, but wait for the close of the bar. TK also will consider it a signal when the OSMA bars are equal.

3. Yes, for the 1 hr system, you would enter at the top of an hour when a signal is received.

4. I don't think TK has answered what he does if he is stopped out, and how would get back in. TK? I know what i do, but i am still looking at 2 different ways.

Hope this helps...

Jimno

That really helps,thanks. Still need the info about when to get in again!
Quoting billbss
Will you go long as soon as you see equal OSMA bars, without ever seeing a higher one?
Whichever comes first...

TK
Quoting james275
BJ....Just because the OSMA bars go up or down doesn't mean you won't get stopped out. There are times that the bars go up and price stays flat or goes down. That is a divergence pattern on this indicator. Or OSMA goes down and price doesn't . Sometime this happens, and sometimes it can be extended. This system will have that issue, and therefore the initial stop (not the trailing one) is set at 50 pips. You do this to protect your capital and limit your risk. The good news is that when u enter your trade, more often it will take off in your direction and you can make 10 times that amount if you properly manage the trade, which means bringing the stop to Break even (BE ) after u reach 150 pips above your entry and then continue to manage it as price goes in your direction. Eventually, either your trailing stop will get hit, or you will receive an opposite signal, both of which should close your position.

Maybe 4 out of 10 trades results in a 50 pip loss each. You will more than make up for that on the other 6.

Look at how TK managed his last trade. He entered, trailed his stop and manged his trade. at one time he probably had almost a 300 pip profit, but he stuck to the system, and profited 125 pips. Now he is waiting for the next.

Originally Posted by tkimble http://www.forexfactory.com/images/buttons/viewpost.gif
I was stopped out at 227.21 (150 PIP Trailing Stop) for a 125 PIP profit. Waiting for long signal...


I would encourage u not to be worried about being stopped out. It is PART OF THE SYSTEM. Just trade it like it is outlined, and the results u will experience will make you happy....

good trading...

Jimno
You are correct...
Without question, this is a great system. Does anyone have any thoughts as to whether an EA could be programmed based on the parameters outlined? If one could be made, it would obviously save chart watching at the hour change, or when one is asleep.
I agree its a great system. I've been testing a few pairs and it seems to work better on some than others from my limited back testing. It's great for the G/J which can be a bit stressful . It seems ideal for an EA. Trading it this week o the G/J would have resulted in great pips and a lot more sleep.
Cheers, Bogus
Quoting paradoxical
Without question, this is a great system. Does anyone have any thoughts as to whether an EA could be programmed based on the parameters outlined? If one could be made, it would obviously save chart watching at the hour change, or when one is asleep.
FF journal: Peaks and Troffs
Does anyone know whether the OSMA is programmable into a smart phone to allow alerts to wake me up if/ when a bar changes?
FF journal: Peaks and Troffs
Quoting bogus
Does anyone know whether the OSMA is programmable into a smart phone to allow alerts to wake me up if/ when a bar changes?
i don't think so. I use a treo 650 when i am away from my computer and use IB FX wireless system. It is the wireless version of Metatrader v 4 and is absolutely great...however it doesn't support custom indicators (YET) . I can do everything on it and have used the MACD instead which is a standard indicator that it does support.

Jimno
Quoting skyline
This is how I'm seeing actual GJ situation, please Tkimble post if something is wrong in my picture
Wow. You have an excellent EA skill set. How do I import your EA into my MT4 system?

Thanks,

Ty
Quoting tkimble
Wow. You have an excellent EA skill set. How do I import your EA into my MT4 system?

Thanks,

Ty
Thx Tkimble , but I remember when I coded your Daily Scalping EA , that you didn't like the EA for that reason I opened another post to speak about.
So now are you changing your mind about EA ?

Edit : Btw just because are you , if you want I'll be glad to give a 1 on 1 tutorial on how to set metatrader to works properly with EA
Long for me now on GJ at open of 11 gmt candle...
Trailing with 50 pips, I prefer to go over weekend on b/e if I can.
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How do you write an alert for a color change in OsMA ?
Also the divergence issue,
Just get out if you're in.
Or, why not play it by watching for price to correct in the direction of the dominant trend and then enter? Any thoughts?
thanks in advance
Just started testing this system yesterday. I have made 2 rookie mistakes so far:

1. Last night before I went to bed at about 6:00 GMT, it really looked like it was going to turn and the bars were close to equal. So I went ahead and went long. I was right as it did finally turn at 11:00 GMT, but I got wicked out of my 50 pip stop in the 7:00 GMT hour. Too bad as I'd be up 174 pips. Need to learn patience. An EA or alert that would wake us up when it turns would be huge for this.

2. Since I'm just testing, I decided to watch all the JPY crosses. NZDJPY is developing a signal in the current hour (13:00 GMT) but I got so excited about the change that I went in early, not remembering to wait until the bar closes / open of the next one. Jury is still out on that one but is -19 right now.
Do you hold open positions over the weekend in this system?
Quoting bjk2801
How do you add it to your chart? Thanks.
I know it is very simple for those know. But for those who do not know how do, it very frustrating.
After coping OsMA Color.mq4 to C:\Program files\MetaTrader\experts\indicators.
How to insert it into the chart?????
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