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Trend Hugger System

  • #181
  • Nov 30, 2007 11:03am Nov 30, 2007 11:03am
In the Navigator on the left hand side of the charts, find the 'Custom Indicators' section. Click on the little + before it, find the indicator by name, double click on it. Another box will appear, click on OK and it should appear on your below your chart.

I hope this helps.

Carol
  • #182
  • Nov 30, 2007 11:05am Nov 30, 2007 11:05am
Quoting gsilverl
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?????
Yes it's simple after you know how to do
Ok after coping indicator, close your platform and reopen, then open your chart , press CTRL+N to open Navigator window and double click on the OsMA Color as in below picture

Hope this helps you
Attached Image (click to enlarge)
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  • #183
  • Nov 30, 2007 11:06am Nov 30, 2007 11:06am
Quoting Eureka
In the Navigator on the left hand side of the charts, find the 'Custom Indicators' section. Click on the little + before it, find the indicator by name, double click on it. Another box will appear, click on OK and it should appear on your below your chart.

I hope this helps.

Carol
Carol you beat me for 2 seconds ehehhe
  • #184
  • Nov 30, 2007 11:09am Nov 30, 2007 11:09am


Quoting skyline
Carol you beat me for 2 seconds ehehhe
  • #185
  • Nov 30, 2007 12:08pm Nov 30, 2007 12:08pm
Short GJ since the signal three hours ago. I will bail before the weekend, I think.
  • #186
  • Nov 30, 2007 7:26pm Nov 30, 2007 7:26pm
Quoting skyline
Yes it's simple after you know how to do
Ok after coping indicator, close your platform and reopen, then open your chart , press CTRL+N to open Navigator window and double click on the OsMA Color as in below picture

Hope this helps you
That was sure a great help. I am sure those who have not figure it out would apperciate it.
Thank you so much..
  • #187
  • Nov 30, 2007 7:54pm Nov 30, 2007 7:54pm
Quoting tkimble
I was stopped out at 227.21 (150 PIP Trailing Stop) for a 125 PIP profit. Waiting for long signal...

TK...
What would be your sugestion if the Stop Loss function does not work.
I am with "e-Chart Trader" and they have actually admmited that [the stop loss or take profit function not working sometime due to the internet connection.]
  • #188
  • Nov 30, 2007 10:07pm Nov 30, 2007 10:07pm
Skyline,

I see that your call on post #176 earned you some nice pips. Your charts are so clean. Do you trade with your chart as you post - with no other indicators? Spero che vinca Juve.
  • #189
  • Dec 1, 2007 1:47am Dec 1, 2007 1:47am
Quoting Rialto
Skyline,

I see that your call on post #176 earned you some nice pips. Your charts are so clean. Do you trade with your chart as you post - with no other indicators? Spero che vinca Juve.
Hi Rialto,
yes I'm trading looking at that chart without any other indicator, I think there's no need to put other indicator in chart for this method.
Spero vinca l'Inter !!
  • #190
  • Edited 5:23am Dec 1, 2007 5:01am | Edited 5:23am
there is something missing from this system.
i have been using macd for quite some time now and i have to tell you this about macd histogram (or osma, it is the same thing): no matter what settings you use, there will always be times when you see divergences (either classical or hidden). so let's talk about this.
a hidden divergence is the best opportunity to open a new position in the same direction as the main trend, so i'm not talking about this particular case. you make profit using the original rules.
a very different situation happens when you see a classical divergence: you can't just trade it the way tk proposed in the original rules, because in this case price will always goes into the other direction. i mean, sure you can trade it, but wouldn't you better keep that 50 pips SL in your pocket?
here's an example about what i am trying to say. g-j, h4. i am only talking about entry points, the value of SL/TP/TS is a different story...
look at the blue vertical lines: you are buying on tops and selling on bottoms if you are using the original rules. all are fake signals.
now look at the trendline: price is below it; then look at CCI, it is mostly below 0 (these are actually the 2 filters i wanted to suggest - trendlines and CCI).
think about it.

p.s. the vertical red line is an entry that would have brought just a few pips, probably less than 50 (after you move SL to b/e with 150 pips rule). you have 5 fake entries, and only one winner.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #191
  • Dec 1, 2007 5:11am Dec 1, 2007 5:11am
and another example, about a possible move on g-j.
there is a beautiful setup on this h4 chart. bearish hidden divergence on osma...
as soon as price breaks that trendline, take the short signal given by osma. it should bring you a very nice profit.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB
Nihil Sine Deo.
  • #192
  • Dec 1, 2007 9:04am Dec 1, 2007 9:04am
Quoting TraderGeek
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.
Not bad for my first day. I don't like holding over the weeekend and I didn't hear back on my query regarding that so I closed everything yesterday afternoon. That said, excluding the trades above, I closed the day up 118 pips.

Had profitable trades on AUDJPY, AUDUSD, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF. Only one loser (3 pips) on CHFJPY. And that was likely just due to exiting at market close.
  • #193
  • Dec 1, 2007 12:39pm Dec 1, 2007 12:39pm
Quoting Scrat
and another example, about a possible move on g-j.
there is a beautiful setup on this h4 chart. bearish hidden divergence on osma...
as soon as price breaks that trendline, take the short signal given by osma. it should bring you a very nice profit.
Scrat, nice seeing u again.

U are so right about the divergence issue. We traders are a funny bunch as we try and refine things to make it work. I am doing the same as you. Trendline filter, MA filter, etc. The problem as i see it is that we (me) fail to see the big picture, and afraid to take a loss.

Looking at the 4 hr GBY (that is what i trade personally as well) U show the 4 losers which is true but just before those is an 800 pip and 400 pip winner. And the current trade will be a winner too. From my calculations the winners significantly offset the losers. I need to finish my REAL backtest so i have a much better understanding of proformance. As much as i can tell, this is a very profitable system. So i am very hesitant to start changing a profitable system to just optimize it.

BUT...can it be tweeked to rid us of some of those pesky false signals (see i am aready complicating it..!) ???

Here is my thoughts on filters: I just have a hard time being a mechanical trader.

1. On a signal, take the breakout of that bar instead of close of it. i find that even a nice trend will have a rogue bar in the opposite direction, and this tends to help you stay in the trade and not take the false signal, just to have to take another signal on the next bar. Saves 2 spreads. Real signals (like the last one on the 4 hr) are only impacted a bit.

2. Should we always be in market? I won't be in the market against a trend that i believe is continuing. So in those cases i don't take any signals in that direction. If i am in, i might get out, but i won't go in the opposite direction. That is discretionary on my part. If we are range bound, then i will go both ways. I will also look at price patterns. The chart you had showed a very nice higher low indicating a long may be appropriate.

What i appreciate about this system is that it is simple and works. In fact, i am coming to believe that simplicity is a major factor in a traders success. So i am keeping that and only want to add a few discretionary items to tweek it more to my advantage. TK continually encourages us all to "make it your own".

THanks for your observations.. ALso, for those trading the 4 hr/ daily/ weekly. I think 50 pip stop is too low. It works very well for the 1 hr time frame.

Jimno
  • #194
  • Dec 2, 2007 9:57am Dec 2, 2007 9:57am
when i first read about a system, i don't look where it works but where it doesn't.
this one is another trend following system and it will bring nice profits (as always) as long as we see a trend; so i don't bother with the profitable trades. what about when we don't have a trend, or when trend is changing? these are the conditions that will bring drawdowns, and before i use this system i would need to focus on these situations.
most of you will probably say this: well, if the profits are big enough to compensate for the drawdowns, why bother? yes, true. but how do we know that we will have enough profits? we don't! and if you think about backtesting, it won't work; from my experience, backtesting is not relevant enough no matter how far you go in the past. it won't tell you about the future, because market conditions are constantly evolving. take this from a guy who spent weeks after weeks of backtesting.
the only thing that works is MINIMIZE LOSSES, because you never know what your profits would be in the future. this is what this thread should be talking about.
Nihil Sine Deo.
  • #195
  • Dec 2, 2007 10:36am Dec 2, 2007 10:36am
and now some comments on what you said.
the breakout entry is a very good point. i always do this because i believe it is safer.
no, we shouldn't always be in market. there are ranging & choppy conditions when it is better to stay out. i am a swing trader and i only feel comfortable "at large". now...
that 50 pips SL doesn't work for g-j on h4 at all. i'm not even sure it works on h1 because most of the times i set stops of about 80-90 pips on this timeframe.
there are many more things to discuss, but i don't think this is the place. this is not my strategy and if i come up with any change i consider important, it won't look at all like the original setup.

p.s. by the way, i didn't find anything about this: after you are stopped, what is next? a new entry according to the rules? or just stand aside until...?

Quoting james275
Scrat, nice seeing u again.

Here is my thoughts on filters: I just have a hard time being a mechanical trader.

1. On a signal, take the breakout of that bar instead of close of it.

2. Should we always be in market? I won't be in the market against a trend that i believe is continuing. So in those cases i don't take any signals in that direction. If i am in, i might get out, but i won't go in the opposite direction. That is discretionary on my part. If we are range bound, then i will go both ways. I will also look at price patterns. The chart you had showed a very nice higher low indicating a long may be appropriate.

THanks for your observations.. ALso, for those trading the 4 hr/ daily/ weekly. I think 50 pip stop is too low. It works very well for the 1 hr time frame.

Jimno
Nihil Sine Deo.
  • #196
  • Dec 2, 2007 10:47am Dec 2, 2007 10:47am
Quoting Scrat
p.s. by the way, i didn't find anything about this: after you are stopped, what is next? a new entry according to the rules? or just stand aside until...?
I've asked that same question twice. It hasn't been answered.
  • #197
  • Dec 2, 2007 10:56am Dec 2, 2007 10:56am
sorry, i just didn't have time to go through all the posts. then let's just wait and see what would be the answer.

Quoting billbss
I've asked that same question twice. It hasn't been answered.
Nihil Sine Deo.
  • #198
  • Dec 2, 2007 3:25pm Dec 2, 2007 3:25pm
Quoting Scrat

p.s. by the way, i didn't find anything about this: after you are stopped, what is next? a new entry according to the rules? or just stand aside until...?
Don't know what TK does as he hasn't said yet. I've looked at reentering at the breakout of the bar when the indicator has turned back to the main trend direction. I'm not happy with that though. Seems like too much risk for me.

Jimno
  • #199
  • Dec 2, 2007 9:45pm Dec 2, 2007 9:45pm
Some OsMA clarification if I could.

My platform doesn't have OsMA, though it does have MACD, from what I gather they are similar.

Could someone please tell me exactly how the OsMA is calculated so that I can take a shot at coding it (or modifying a MACD code).

Thanks

Ryan
  • #200
  • Dec 2, 2007 10:59pm Dec 2, 2007 10:59pm
OsMA should be equivalent to MACD histogram.
or you can always install MT for free.

Quoting ryanmel
Some OsMA clarification if I could.

My platform doesn't have OsMA, though it does have MACD, from what I gather they are similar.

Could someone please tell me exactly how the OsMA is calculated so that I can take a shot at coding it (or modifying a MACD code).

Thanks

Ryan
Nihil Sine Deo.
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