Trend Hugger System | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a trend trader or a counter-trend trader? 29 replies

Ichi Trend & RSI Trend Catch 4 replies

trend up trend down 1 reply

Automatic Trend line, trend channel, support, resistance detection 3 replies

"Trend" , how do you actually trace the current trend ? 23 replies

Attachments: Trend Hugger System
Exit Attachments

Trend Hugger System

  • #221
  • Dec 5, 2007 12:13pm Dec 5, 2007 12:13pm
The linear regression indicator is one I picked up along the way. If you search for it you can find it. It can be set for any # of periods, but 90 works for me on daily chart.

If you will give me a quick lesson on how to post an MT4 chart I will try. Thanks!
  • #222
  • Dec 5, 2007 12:21pm Dec 5, 2007 12:21pm
I have this Linear Regression indicator, hopefully it's the same thing you are using

Also, to post a chart, just right click on the chart area and select "Save as a Picture", then choose the area (generally "Active chart"), and attach the saved file here ("Manage Attachments" button).
Attached File(s)
File Type: ex4 linreg.ex4   3 KB | 602 downloads
  • #223
  • Dec 5, 2007 12:26pm Dec 5, 2007 12:26pm
Did this work? First try.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 40 KB
  • #224
  • Dec 5, 2007 12:41pm Dec 5, 2007 12:41pm
I'm trying to avoid whipsaws by trading in only one direction, and the slope of the linear regression gives me an objective standard to decide which way to trade. I tried an 89 SMA first, but I think the regression lines are better.

It's working so far. Not every trade gains, and some gains are bigger than others, but at least my transaction costs are reduced by not taking trades both ways. Does anyone smarter than me see anything conceptually wrong with this method?
  • #225
  • Dec 5, 2007 1:39pm Dec 5, 2007 1:39pm
Quoting killertrader
I'm trying to avoid whipsaws by trading in only one direction, and the slope of the linear regression gives me an objective standard to decide which way to trade. I tried an 89 SMA first, but I think the regression lines are better.

It's working so far. Not every trade gains, and some gains are bigger than others, but at least my transaction costs are reduced by not taking trades both ways. Does anyone smarter than me see anything conceptually wrong with this method?
I like this idea a lot. I have been doing something similar, though just by eyeballing the price trend.

Can you post the indicator file you're using to draw your regression lines? It looks to be different than the one posted above.

The file should be in:

C:\Program File\<MetaTraderPlatform>\experts\indicators
  • #226
  • Dec 5, 2007 4:19pm Dec 5, 2007 4:19pm
This should be it.
Attached File(s)
File Type: mq4 Linear%20Regression[1].mq4   7 KB | 723 downloads
  • #227
  • Dec 5, 2007 5:09pm Dec 5, 2007 5:09pm
Quoting killertrader
This should be it.
Thanks that works great. Do you just use the default values or do you customize based on timeframe and/or pair?
  • #228
  • Dec 5, 2007 5:19pm Dec 5, 2007 5:19pm
I'm using 90 days to define a trend on the daily chart. Obviously the greater the slope the better off you are. Look at EUR/USD's slope for the last 90 days and imagine catching the upswings.
  • #229
  • Dec 5, 2007 5:26pm Dec 5, 2007 5:26pm
Quoting banzai
Here's the 4-colored version.
Hello Banzai,

I've noticed in other threads that you have a real talent for creating alerts, templates and indicators. I was wondering if you have created an alert for the Colored OsMa Indicator you posted here. A sound alert when the OsMa bars change color would be so helpful to avoid having to check the charts every hour. Thanks Banzai!! ....T-Wolf
  • #230
  • Dec 5, 2007 5:48pm Dec 5, 2007 5:48pm
Quoting killertrader
I'm using 90 days to define a trend on the daily chart. Obviously the greater the slope the better off you are. Look at EUR/USD's slope for the last 90 days and imagine catching the upswings.
I'm trading the H1 chart so I set it for 96 to start with (4 days). We'll see. Looking back it looks like it would have kept me out of some bad trades but I'd have also missed a couple of pretty good ones.

But I'm intrigued by it. I also threw CCI up there ... someone else in the thread mentioned that one as a possible filter as well.
  • #231
  • Dec 5, 2007 6:44pm Dec 5, 2007 6:44pm
What does everyone do if they have a trade on and it's bedtime? The indicator (OsMA) could change direction and color, and you wouldn't know (i.e. sleeping). DO you move the S/L to break even to avoid loss thus preservation of capital? or let it run and see in the morning? Thanks.!!
  • #232
  • Dec 5, 2007 9:59pm Dec 5, 2007 9:59pm
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, am able to get the chart but its not colored as to when the osma rises or drops as indicated in the chart. Help please.
Esh
  • #233
  • Dec 6, 2007 2:28am Dec 6, 2007 2:28am
Quoting killertrader
This should be it.
I have tried to use this but I am not seeing any thing in my chart... I did a 90 for the day only but not see any thing.... and I have it installed in \experts\indicators
  • #234
  • Dec 6, 2007 5:22am Dec 6, 2007 5:22am
I know this is off the current topic, but for the thread, if anyone uses the GFT platform, i have attached two OsMA indicators....

the first is a simple green to red change of colour when bar values change trend

the second is green above 0, red below, with different shades on change of trend (as per the indicator posted for mt4 earlier in this thread)

and.... a screen shot.... i'm upload happy.
Attached Image (click to enlarge)
Click to Enlarge Name: osma.jpg Size: 235 KB
Attached File(s)
File Type: zip osma_GFT.zip   1 KB | 634 downloads
  • #235
  • Dec 6, 2007 5:59am Dec 6, 2007 5:59am
Quoting ryanmel
I know this is off the current topic, but for the thread, if anyone uses the GFT platform, i have attached two OsMA indicators....

the first is a simple green to red change of colour when bar values change trend

the second is green above 0, red below, with different shades on change of trend (as per the indicator posted for mt4 earlier in this thread)

and.... a screen shot.... i'm upload happy.
That's great, I like that!

Now add an audio alert (for MT Platform) and I'll be even happier

I have yet to make money using this system but I see the back test results and am definetely going to give it a good trial run.

Cheers, Dan
  • #236
  • Dec 6, 2007 6:23am Dec 6, 2007 6:23am
OK we have a great system here,
but for those of us who forget to check our watches,
is there an audio alert in the works yet?
I've seen 3 requests so far.
just checking.
thanks in advance
  • #237
  • Dec 6, 2007 1:19pm Dec 6, 2007 1:19pm
Quoting pipul8r
OK we have a great system here,
but for those of us who forget to check our watches,
is there an audio alert in the works yet?
I've seen 3 requests so far.
just checking.
thanks in advance
Lets make sure it has EMAIL notification as well
  • #238
  • Dec 6, 2007 4:19pm Dec 6, 2007 4:19pm
I use Dealbook not MT platforms, so wouldn't have a clue how to code MQL.
This was my first foray into playing with code, so happy I made it work.

Dealbook has Audio, SMS and Email alerts built in for price and indicators.... all there to be used.
  • #239
  • Dec 6, 2007 8:24pm Dec 6, 2007 8:24pm
I've been building in an alert system but it's been slow going due to other commitments. I think I'll have something this weekend...
  • #240
  • Dec 6, 2007 8:54pm Dec 6, 2007 8:54pm
I'm certainly no MQL guru but here is my attempt at adding Alerts and Email to the OsMA Color Indicator.

Inputs Added:

AlertOn: You want MT4 alerts
EmailOn: You want MT4 to send email as configured in the platform

Logic:
All this does is compare the most recent closed bar (so 1 bar ago) to the one before that. If the color is different, it generates an alert/email that says the color changed. At that point it's up to you to do any other due diligence, wait for another bar to close, etc.

Also, the alerting logic only runs once per bar, not per tick. So on the first tick of a newly opened bar, it looks at the prior two bars to detect a color change. It does not look at the newly opened bar at all. I thought of making sure it was the same color as the most recently closed bar, but decided not to as I think a lot of people are trading this system differently than others.

I have done only the most rudimentary testing on this so YMMV.
Attached File(s)
File Type: mq4 OsMA Color2.mq4   5 KB | 917 downloads
0 traders viewing now