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4 Hour Strategy (MACD)

  • #9,021
  • Dec 3, 2007 2:54pm Dec 3, 2007 2:54pm
A look at the JY:

The Rt made it's way down to the 21 and gave a Tc signal. I do see an upward bias with the daily pivot as a target but the r:r is leaning towards the risk right now. The 89 is trying to 'curve' upwards as well. Markets are waiting for a spark right now it seems. I'm waiting until after the spark to let things get moving and take it from there...
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  • #9,022
  • Dec 3, 2007 2:57pm Dec 3, 2007 2:57pm
I am closely following this pair looking for 4H & 1H TC signals.

Can someone with more experience confirm my observation -

1. When 4H is about to give a TC signal but not quite close yet
- Entry using 1H only if in sync with 4H Trend
- in sync meaning 1H giving also a TC signal preferably off 21 with price action going in 4H direction
- I am noticing when the 1H price action is going counter 4H trend entry is unreliable

2. When the 4H give a TC signal and price has moved too much for risk/reward
- Entry on 1H TC after a pullback - putting SL at the 1H level instead of the further away 4H level.

Can the experienced ones comment on 1 & 2, please.

Thanks.
  • #9,023
  • Dec 3, 2007 3:20pm Dec 3, 2007 3:20pm
Hey, I have been trying to setup this strategy on Tradestation and I can't seem to setup the MACD properly. I can't input the "horizantal levels" like .0015, .0030, .0045, -.0015, -.0030, and so on. I spoke to a tech at Tradestation and he told me that it needs to be programmed into the MACD itself using Easy Language. I don't know how to program in Easy Language so, If anyone already has the MACD setup the way its suppose to be and can send me the indicator or post it on the tread, I would really appreciate it.
  • #9,024
  • Dec 3, 2007 3:35pm Dec 3, 2007 3:35pm
Quoting Phillip Nel
Info

Just another way to get a few pips in the pocket. When price breaks out, allways wait for a possible pullback and confirm with shorter timeframe like 1hour.
Phillip,

When you wait for the pullback after the break out, do you wait for a macd confirmation on the 1 hr? If not, when do you pull the trigger?

Thanks
  • #9,025
  • Dec 3, 2007 5:57pm Dec 3, 2007 5:57pm
Quoting maxster
I am closely following this pair looking for 4H & 1H TC signals.

Can someone with more experience confirm my observation -

1. When 4H is about to give a TC signal but not quite close yet
- Entry using 1H only if in sync with 4H Trend
Absolutely


- in sync meaning 1H giving also a TC signal preferably off 21 with price action going in 4H direction\
When the 4hr is at the 21 for a Tc, look at the 1hr around the 89...price action....

- I am noticing when the 1H price action is going counter 4H trend entry is unreliable

As you said, don't fight the trend...

2. When the 4H give a TC signal and price has moved too much for risk/reward
- Entry on 1H TC after a pullback - putting SL at the 1H level instead of the further away 4H level.
Just make sure that you are 'reading' the price action and trend correctly. This is aggressive trading even on the 1hr...


Can the experienced ones comment on 1 & 2, please.

Thanks.
Again, it all comes down to patience and seeing the rhythm of the market....
  • #9,026
  • Dec 3, 2007 7:56pm Dec 3, 2007 7:56pm
Quoting Palmer
A look at the JY:

The Rt made it's way down to the 21 and gave a Tc signal. I do see an upward bias with the daily pivot as a target but the r:r is leaning towards the risk right now. The 89 is trying to 'curve' upwards as well. Markets are waiting for a spark right now it seems. I'm waiting until after the spark to let things get moving and take it from there...
Palmer,

Could you mark on the chart where the macd gave a tc pattern on the 4hr chart??? Was it an upward macd pattern? I do not see it? Trying to see what i am missing
  • #9,027
  • Dec 3, 2007 8:05pm Dec 3, 2007 8:05pm
Quoting JimTatum
Palmer,

Could you mark on the chart where the macd gave a tc pattern on the 4hr chart??? Was it an upward macd pattern? I do not see it? Trying to see what i am missing
The TC on the 4 hr is the bounce off the 21 ma. On the bounce you can use the 1 hour chart for entry and stop placement. There hasn't been a macd TC signal on the 4 hour yet.
  • #9,028
  • Dec 3, 2007 9:11pm Dec 3, 2007 9:11pm
trader_scott:

Thanks for keeping me in line.

Jim:

I've been focused on the EU for a while. The Yen hasn't given a true Tc in the sense of the MACD turning green 'again' with the bounce off the 21. Sorry about the confusion, can't see the forest for the trees right now....
  • #9,029
  • Dec 3, 2007 9:39pm Dec 3, 2007 9:39pm
1. Is 1h used only at the time that 4h is about to form a TC ( I mean not the second entry signal, it's the first macd bar that maybe change colour)

2. How to use pivot point to 4h rhythm system? Which pivot is most useful? Daily or 4h?

Sorry about my poor English level, hope you can understand what I am meaning and thank for the answer
Plan your trades and trade your plans
  • #9,030
  • Dec 3, 2007 9:55pm Dec 3, 2007 9:55pm
Quoting saka
1. Is 1h used only at the time that 4h is about to form a TC ( I mean not the second entry signal, it's the first macd bar that maybe change colour)

2. How to use pivot point to 4h rhythm system? Which pivot is most useful? Daily or 4h?

Sorry about my poor English level, hope you can understand what I am meaning and thank for the answer
To answer question #1 ... yes the 1 hour can be used at the time the 4hour could be making a TC. This way you could possibly have a better risk/reward ratio. Check out the website in Palmer's posts. Go under the 1 hr section, and it explains it all there.

I haven't gotten too much into pivot points, so maybe Palmer can answer your second question.
  • #9,031
  • Dec 3, 2007 10:19pm Dec 3, 2007 10:19pm
Quoting trader_scott
To answer question #1 ... yes the 1 hour can be used at the time the 4hour could be making a TC. This way you could possibly have a better risk/reward ratio. Check out the website in Palmer's posts. Go under the 1 hr section, and it explains it all there.

I haven't gotten too much into pivot points, so maybe Palmer can answer your second question.
Thank you
Plan your trades and trade your plans
  • #9,032
  • Dec 3, 2007 10:20pm Dec 3, 2007 10:20pm
I have currently swiched over to MetaTrader 4 from Accucharts. I have a few questions.

How do you extend the chart?

How do have the '2 hours and 18 min until next bar' in the top left of chart?

How do you change the time zone your in?
  • #9,033
  • Dec 3, 2007 10:32pm Dec 3, 2007 10:32pm
Quoting FxTex
I have currently swiched over to MetaTrader 4 from Accucharts. I have a few questions.

How do you extend the chart?

How do have the '2 hours and 18 min until next bar' in the top left of chart?

How do you change the time zone your in?
1. to extend the chart, go to properties (F8) and check on "chart shift"
2. You can't have that by itself, you must program it using Meta Language
3. You can't change the broker time.

Hope it helps =)
  • #9,034
  • Dec 3, 2007 10:34pm Dec 3, 2007 10:34pm
Quoting benniardi
1. to extend the chart, go to properties (F8) and check on "chart shift"
2. You can't have that by itself, you must program it using Meta Language
3. You can't change the broker time.

Hope it helps =)
Thanks for the help.

Does anyone have to code/program? Or do I have to program it myself?
  • #9,035
  • Dec 3, 2007 10:34pm Dec 3, 2007 10:34pm
Quoting FxTex
How do have the '2 hours and 18 min until next bar' in the top left of chart?
Hi FxTex.

This is the indicator for 'time left in your candle'.
Attached File(s)
File Type: ex4 EJ_CandleTime.ex4   2 KB | 742 downloads
  • #9,036
  • Dec 3, 2007 10:36pm Dec 3, 2007 10:36pm
Quoting FxTex
Thanks for the help.

Does anyone have to code/program? Or do I have to program it myself?
Well, if you looking for specific features, just ask some ppl here for the template, for example timeframe lock, or some indicators..
*edit* there you go, someone has the code in template, all you need to do just put the file into your metatrader folder C:\...\Metatrader\experts\indicators

or there's thread on this FF that talks about MetaQuote language.

or, if you good at programming language, you can do it by yourself =)
  • #9,037
  • Dec 3, 2007 11:44pm Dec 3, 2007 11:44pm
Quoting Foricks
IMHO, I do not think Sunday opening signals are reliable for the reason you quoted - consolidation but also news, emotion, etc.
Rick
Thanks Rick, it looks like you did a lot of work. I completely agree with you about signals.
Ira
  • #9,038
  • Dec 4, 2007 3:51am Dec 4, 2007 3:51am
Quoting efranco
Hey, I have been trying to setup this strategy on Tradestation and I can't seem to setup the MACD properly. I can't input the "horizantal levels" like .0015, .0030, .0045, -.0015, -.0030, and so on. I spoke to a tech at Tradestation and he told me that it needs to be programmed into the MACD itself using Easy Language. I don't know how to program in Easy Language so, If anyone already has the MACD setup the way its suppose to be and can send me the indicator or post it on the tread, I would really appreciate it.

MACD -:


inputs: FastLength( 12 ), SlowLength( 26 ), MACDLength( 9 ) ;
variables: MyMACD( 0 ), MACDAvg( 0 ), MACDDiff( 0 ) ;

MyMACD = MACD( Close, FastLength, SlowLength ) ;
MACDAvg = XAverage( MyMACD, MACDLength ) ;
MACDDiff = MyMACD - MACDAvg ;

Plot1(-0.0015);
Plot2(-0.0030) ;
Plot3(-0.0045) ;


MACD+:

inputs: FastLength( 12 ), SlowLength( 26 ), MACDLength( 9 ) ;
variables: MyMACD( 0 ), MACDAvg( 0 ), MACDDiff( 0 ) ;

MyMACD = MACD( Close, FastLength, SlowLength ) ;
MACDAvg = XAverage( MyMACD, MACDLength ) ;
MACDDiff = MyMACD - MACDAvg ;

Plot1(0.0015);
Plot2(0.0030) ;
Plot3(0.0045) ;
  • #9,039
  • Dec 4, 2007 3:55am Dec 4, 2007 3:55am
any idea on USDCHF:

we had a very high spike in The MACD
it went through the 89SMA but never has retraced since
right now (GMT+1) it's forming a candle with small body and very long upside tail (can somebody telle me what it is: long upper hasadow (bearish), inverted hammer (bullish), gravestone doji (beraish?)

btw what kind of candle stick patterns do you look at??

Till
  • #9,040
  • Dec 4, 2007 6:56am Dec 4, 2007 6:56am
hey saka! I use the pivots that are calculated with the daily numbers and have them showing on the 4hr charts. I use these same pivots on the lower timeframes for 5/15 min entries as s/r levels and profit targets. Not sure I understand your question.

Missed 'the move' last night because of that thing called sleep...bummer.
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