DislikedU will find all the info + downloads here http://www.pnwenterprises.com/auslan...instrategy.htm
And the latest Update 2 the 15min strategy here http://www.forexfactory.com/showpost...ostcount=52748Ignored
Auslanco 15min GBP/JPY startegy
- #488
- Dec 6, 2007 5:46pm Dec 6, 2007 5:46pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #492
- Dec 7, 2007 1:02pm Dec 7, 2007 1:02pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Hello Auslanco,
I've downloaded the indicators for VT from your site.
Would you Aus please, give me a password or guide how to unzip these ZIP files?
Or anyone could help me?
If it's public...
Thanks a lot
http://www.forexfactory.com/showthre...=45076&page=22
- #493
- Dec 7, 2007 1:49pm Dec 7, 2007 1:49pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #496
- Edited Dec 8, 2007 12:06pm Dec 7, 2007 6:02pm | Edited Dec 8, 2007 12:06pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #498
- Edited 12:19pm Dec 8, 2007 12:04pm | Edited 12:19pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Hi Pips Cruiser,
Thanks for your reply!
Ok, I checked your code, I understand it's linked with the RSI to which has been added a smoothing parameter basically... It's just that I don't like using an indicator without knowing its underlying basics.
So the figure on the right side of the QQE indicator, for instance: 53.4723, 64.5687, ... are the same as the RSI? That's why we use QQE almost as RSI: buy when over the 50 level, etc ... ?
I would also like to know: is this system valid for a M5 or M1 timeframe? Because I used it yesterday on the M5 timeframe but got screwed. Is it another indicator to look at on a shorter term timeframe?
Cheers,
Michi
You might be a good candidate for naked chart trading. You could learn to read the price bars and their patterns, on multiple time frames, to spot trends and breakouts. There are successful traders using that approach, and the pure market data is contained right there on the charts. Indicators start with that data and build fancy graphical representations of it, with only a few exceptions (like volume).
I can understand your wanting to know the underlying principles of the indicators you use. I didn’t have blind faith in the QQE either, and used a demo account until I was convinced that it worked. After that I adopted the 15min strategy as part of my regular trading, and have had success with it ever since. In the process I got to understand QQE behavior better. Aus used to tell us to watch it carefully, catch the movements, and get to know it that way. But even now I don’t understand it perfectly. Partially because it’s one of the newer indicators on the scene, and partially because of the way it was introduced (I know it’s history can be gleaned through Google, because I’ve done it) it remains rather mysterious. That will probably change with time, as more traders use it and it becomes mainstream.
The smoothing factor is critical. The lower the number the more quickly it reacts. It could be used to simply measure overbought and oversold conditions, because when it reaches very high and low numbers respectively, that’s what it is signaling. But that’s not the main feature we’re using it for in the 15min strategy; it’s more of an added bonus. "50" can be looked at as neutral territory, though that might be an oversimplification. It originally comes with three moving lines, the RSI index, the RSI fast, and the RSI slow. Plus there’s the option of adding a stationary line, and we create one for “50”. For our purposes we ignore the RSI fast line, and on VT you do this by coloring it white. With the QQE60 we just look for the RSI lines to cross. With the QQE5 we also want it on the correct side of the 50 line. All of this has been adapted (along with other indicators) to sense for and signal an impending "breakout". It has been tested on lower time frames, but with mixed results. I think you’re best off sticking to the 15min chart, or setting up your own experiments on a demo account before using them on the M1 or M5. Here is one reference to that on this thread:
http://www.forexfactory.com/showpost...5&postcount=53
I’m perfectly aware this doesn’t answer every question you have, or that you might have in the future about QQE indicators. But at the same time, it’s not anybody’s job here to fully explain it or convince you that it works. Or to even convince you that the 15 minute strategy works. It’s offered as a gift for you to accept or reject, as you feel fit. I think it's wise to have healthy doubts about what you read on any forum, and I would recommend testing any strategy on a demo account until you’re satisfied with the results.
