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Pivot Point Squeeze, high probability system

  • #121
  • Dec 5, 2007 6:42am Dec 5, 2007 6:42am
Ok im going to do this storybook style...

Firstly, here is the code as shown in my program.

http://img526.imageshack.us/img526/8...board03eq6.jpg


Here are the variables shown in my program exactly as they should be entered.

http://img89.imageshack.us/img89/222/clipboard04yh1.jpg

http://img206.imageshack.us/img206/3...board05zt3.jpg


http://img206.imageshack.us/img206/6...board06ow2.jpg

This system of course can be used on different pairs but the settings will have to change depending most largely on volatility. I stick to euroyen as this works very well and have no need to look elsewhere. If you find the need to be trading all the time, then find a scalping system as this system is high probability and consequently a few trade a week system. Rest assured tho that those trades have the highest chance for success which in my mind is better than the need to feed my ever dwindling need to always be in the market.

If you have any more questions or if my storybook style didnt help, let me know and i will do my best. Glad I can help some of us educated traders have an alternate source of income other than trading time for money...

GCTrader
  • #122
  • Dec 5, 2007 6:43am Dec 5, 2007 6:43am
Yep,

Created the indie again, create the indie, put in the values that you have said and changed the colors and to histogram and job done!

Not too sure why it ain't working for you.

Quoting Ironball
I had already changed the style to histogram.

Nuts!! So you just clicked create indicator and dragged across the code from a few posts above, and then typed in those three values above the code. And you got pink bars appearing? What the **** am I doing wrong?
  • #123
  • Dec 5, 2007 6:51am Dec 5, 2007 6:51am
The values you have advised me do not work for me. I placed them and the bars disappeared, I had to use the the other settings Ironball mentioned and they worked for me.

Do you have another code, the pivot confluence indicator, or is this your primary indicator to make your call?

I had to place the settings that
Quoting GCTrader1
Ok im going to do this storybook style...

Firstly, here is the code as shown in my program.

http://img526.imageshack.us/img526/8...board03eq6.jpg


Here are the variables shown in my program exactly as they should be entered.

http://img89.imageshack.us/img89/222/clipboard04yh1.jpg

http://img206.imageshack.us/img206/3...board05zt3.jpg


http://img206.imageshack.us/img206/6...board06ow2.jpg

This system of course can be used on different pairs but the settings will have to change depending most largely on volatility. I stick to euroyen as this works very well and have no need to look elsewhere. If you find the need to be trading all the time, then find a scalping system as this system is high probability and consequently a few trade a week system. Rest assured tho that those trades have the highest chance for success which in my mind is better than the need to feed my ever dwindling need to always be in the market.

If you have any more questions or if my storybook style didnt help, let me know and i will do my best. Glad I can help some of us educated traders have an alternate source of income other than trading time for money...

GCTrader
  • #124
  • Dec 5, 2007 6:52am Dec 5, 2007 6:52am
Quoting Colostarr
I would love to get a demo version of your software. I have to admit I love the buy/sell signals. How does one go about getting a demo, or even sign up for the service? When I went to the website, I didn't see anything about Demo's. And I didn't know which service to click on. How is your account setup with this company?? Any suggestions on getting started with IT-Finance? Any advice would be greatly appreciated...
IT-Finance is the charting company used by IGMarkets and a few others I believe. I use IGMarkets for FX trading so use their charts. They seemed good enough and I just ran with it and developed my own code for indicators and backtesting. If you do eventually end up with ITFinance charting package then this code will work straight out of the doc file. If you use another charting package, then some work will be needed to convert it. It has already been done(although without the entry and exits highlighted) in the 2nd page of this thread for MT4 format.

GCTrader
  • #125
  • Dec 5, 2007 6:54am Dec 5, 2007 6:54am
The settings you have here are different:

0.0062
20
6.2

From the chart below, why is that?

Quoting GCTrader1
And there we have the move, its nearing the R1 line so staging out is probably a good idea with half a lot.

http://img464.imageshack.us/img464/2...urjpy10gj3.png
  • #126
  • Dec 5, 2007 6:57am Dec 5, 2007 6:57am
Guess,

Once those values have been entered in the program, you can change those values to suit what pair you are trading just by hitting the spanner icon in the indicator bar. I have posted the optimized settings for euroyen earlier in this thread but if you find better ones, please post!

The code for the pivot point confluence can be found on the 3rd page of this thread in the attached doc...

Let me know if it doesnt work but I did try it out from scratch by copy and paste from that doc and entering in the variable code as well.

GCTrader
  • #127
  • Dec 5, 2007 7:05am Dec 5, 2007 7:05am
Quoting guess121
The settings you have here are different:

0.0062
20
6.2

From the chart below, why is that?

Those values, while they are set as arbitrary numbers now, will have to be derived somehow from the graph itself. I am currently trying to work that out and until then, the numbers will slightly move. i.e I trim them so that they are still considered to be within my systems underlying strategy. As soon as I can work out that problem(which is pretty huge) than those numbers will have to "float" within a narrow channel. That is why I have them as user definable in the charting package.

Maybe you can help there???
  • #128
  • Dec 5, 2007 7:15am Dec 5, 2007 7:15am
Here is the code as shown in my charting package which takes the output from the squeeze indicator and compares it with pivot points...

http://img80.imageshack.us/img80/537...board07ql2.jpg
  • #129
  • Dec 5, 2007 7:16am Dec 5, 2007 7:16am
GCTrader, thank you very much! I followed your storybook to the letter.

In particular, changing the L value to 0.014 is what has enabled me to see the pink and blue bars. I couldn't see them before when I was using 0.0053 or (what you are using) 0.0062.

However, the pink and blue bars when using the value 0.014 are perpetual, ie there is never a time when there is not a trade signal, either short or long.

Once I get this up and running, with the right value, non-constant signals and with pivot filter, I will buy you one big e-drink!!
  • #130
  • Dec 5, 2007 7:22am Dec 5, 2007 7:22am
lol, cheers mate, as we apparently say down here.

Thats because at that trigger level, nearly everything is considered an entry at 0.014. Think of it as constable kodak putting his camera level at 10km/h in a 50 zone, he is going to be sending out a lot of nasty fines. Same thing here, aim for the speeders(ie, get that trigger level down to a level which is constricted, high buildup...big moves)!
  • #131
  • Dec 5, 2007 7:40am Dec 5, 2007 7:40am
Quoting GCTrader1
lol, cheers mate, as we apparently say down here.

Thats because at that trigger level, nearly everything is considered an entry at 0.014. Think of it as constable kodak putting his camera level at 10km/h in a 50 zone, he is going to be sending out a lot of nasty fines. Same thing here, aim for the speeders(ie, get that trigger level down to a level which is constricted, high buildup...big moves)!
Right. http://www.clipartof.com/images/xsmall/198.gif

But when constable kodak changes on my chart from 0.014 to 0.013 everyone still gets a ticket, but at 0.012 on my chart, let alone 0.0062, no one gets issued anything at all, as the speeders as well as the little old ladies all vanish!

  • #132
  • Dec 5, 2007 7:42am Dec 5, 2007 7:42am
And for something totally unrelated, here is my baby that I take out when not glued to my screens!

http://img473.imageshack.us/img473/6191/jetskihs7.jpg
  • #133
  • Dec 5, 2007 7:46am Dec 5, 2007 7:46am
Quoting Ironball
Right. http://www.clipartof.com/images/xsmall/198.gif

But when constable kodak changes on my chart from 0.014 to 0.013 everyone still gets a ticket, but at 0.012 on my chart, let alone 0.0062, no one gets issued anything at all, as the speeders as well as the little old ladies all vanish!

Hmmm, interesting. What pair are you using? euroyen - 0.0056-0.0062

aussieyen - 0.011-0.013(something like that, havent really delved to much into other pairs)
  • #134
  • Dec 5, 2007 8:01am Dec 5, 2007 8:01am
You lucky so and so... where you live, obviously somewhere nice!

Quoting GCTrader1
And for something totally unrelated, here is my baby that I take out when not glued to my screens!
  • #135
  • Dec 5, 2007 8:01am Dec 5, 2007 8:01am
Quoting GCTrader1
Hmmm, interesting. What pair are you using? euroyen - 0.0056-0.0062

aussieyen - 0.011-0.013(something like that, havent really delved to much into other pairs)
Yes, using a euroyen chart....

I'll send you a pm in a bit, GCT, to stop cluttering up the trading forum. I really want to get this setup.

Nice ski! Ah, the sun! I remember it.
  • #136
  • Dec 5, 2007 8:19am Dec 5, 2007 8:19am
lol, from England are we? You make it sound like it was so long ago!


http://img99.imageshack.us/img99/9200/60985448gd1.jpg

Pic I took last weekend near my place when we hovered over one of the best local surfing spots. Still have to convince my mate to drop me off on my board from his helo... be so sweet!

GCTrader
  • #137
  • Dec 5, 2007 8:31am Dec 5, 2007 8:31am
Is that Queensland?

I went on the tube yesterday. It wasn't very sunny.
  • #138
  • Dec 5, 2007 2:31pm Dec 5, 2007 2:31pm
Boom! Thats it, you obviously have been here before.

No signals yet on the system...
  • #139
  • Dec 5, 2007 2:52pm Dec 5, 2007 2:52pm
An invaluable web page....

http://www.ransquawk.com/

This service is free and provides an audio link to people that have their fingers on the pulse of the trading floors including market rumor's which as you will see have quite an impact on currencies. Just sign up and leave it running on one of your windows in the background and when something happens, you hear about it...literally! So good!

GCTrader
  • #140
  • Dec 5, 2007 4:16pm Dec 5, 2007 4:16pm
Just reading through this thread and am finding it quite interesting. I don't think that one can go too far wrong using Bollinger as a mentor when it comes to trading Forex. This market loves to go from compression to expansion which is suppossedly what Bollinger traders try to take advantage of. GCTrader1 seems to have done so very nicely and has been most generous in sharing.

I realize that an MT4 version has been posted a few pages back but since there are a lot of MT4 users (myself being one of them) I thought that I would amuse myself and see if I could add to this method. My coding skills are not the greatest so I decided to try and use some of the already existing Bollinger related indicators. See attached charts.

The magenta dots on the bbsqeeze seem to line up with the green and magenta dots on the bbhisto. I suppose that whether or not this proves to be a workable setup remains to be seen (proven) in forward testing. I will add the indicators and template in the next few posts incase anyone is interested in playing around with this. I am curious to see if this setup will actually mimic GCTrader1's setup. Although I have not done an exhaustive comparison, at first glance it seems to corellate rather well. There seem to be a few occasions where it gives a slightly earlier signal - for whatever thats worth.
Attached Images
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