I forgot who or where I saw this posted, but here is a file for the metaeditor to create a custom pivot indicator.
###Auto Pivot.mq4 15 KB | 419 downloads
4 Hour Strategy Macd+other Indicator 21 replies
DislikedNot to crazy about going long on the 4 hr....eurusd with such a beautiful Tc on the Daily chart.....Ignored
(my sell trade might be the reason I see that though)Ignored
DislikedI think it will be a good time to go short on eur/usd. Looks to me like price is in a channel and its about to peak out and go back down to 70-160 pips in the near future. I went short at 1.4761. I prob could have waited for it to go up a bit farther but my sl is at 1.4794, so price best stay in channel... lolIgnored
DislikedPips4MeAndYou, thank you for your response on the USDJPY. I was a little shaky when I got up 10 pips, and realized it was not a strong trend, no 4 hour MACD signal and there was MACD diversion.
I have learned my lesson. I did not realize the USDJPY behaved that much differently than say the EURUSD or GBPUSD. I will keep this in mind next time.
Have you taken any trades this week? I am wondering if I have over looked anything.Ignored
why to bother if stops are close or not? What kind of MM do you use? If you use fixed amount of % risked in any trade it is not a difference if stops are close or not - in case of failure you loose the same amount of $.
Just of my curiosity.
DislikedI have the 4hr MACD indicator programmed for TradeStation if anyone is interested. All you have to do is import it to your TradeStation platform. I hope someone puts this to good use
I don't always trade a fixed % amount. The most I will risk is 3% on 1 trade, but I may risk as little as 1%. The stop is also improtant to me figuring the r:r.....Also, I like smaller stops that are feasible whenever possible, because it lowers my exposure (on most pairs I trade 3 lots) or allows me to up my number of lots if I feel especially strong about a pair & can therefore substantially increase the amount of my profit should the tradework in my favor.. No matter what, my stops are always placed at spots that invalidate my trade, not at a fixed level.
So the answer re:the way I trade is no....not usually.Ignored
it would be quite clever to risk 3% per TC trade and no more than 2% (maybe even 1%) on CT trades? That would give you a chance to take nice RT/AT that are CT with smaller exposure to risk and take full armor playing TC trades?