Bandwidth down to a 0.0051. No trade yet but its in the ballpark. Keeping an eye on it for now...
http://img253.imageshack.us/img253/3...xeurjpyvg3.png
http://img253.imageshack.us/img253/3...xeurjpyvg3.png
Pivot Point Squeeze, high probability system
- #183
- Dec 10, 2007 7:09am Dec 10, 2007 7:09am
- | Commercial User | Joined Oct 2007 | 1,015 Posts
Errrrrgggg! How do you install bandswidth??????????? Somedays I REALLY hate MT4. I try to do this stuff without asking for help....can anyone please help a dumb a$$ out?? Lost in the squeeze~!
O.K. let's have a look at the last trade.
Bbsqueeze prints magenta dot at the waterline giving a heads up to an impending trade (a bollinger band sqeeze is forming). Bbhisto prints red dots indicating a possible short however, there is no cross of the waterline by the DPO so no short entry ( oh boy, there is that hindsite again). Bbhisto then prints a green dot with Macd histo and DPO (rising) confirming. Bandwidth also rising towards .0056 level. Either of the two bars marked with vertical blue line could have been an entry. Once again, not a completely mechanical signal, some discretion is still required by the trader. A some what later signal could have been taken when the Bandwidth crossed the .0056 threshold - a safer entry but less pips ???
To answer Colostarr's question: Yes the setup is for MT4. The attached template should help with your setup. The indicators are available from post 141. DPO was initially just drag and dropped from the indicators list ontop of bbsqueeze, the rest of the indicators were just attached to the chart as per usual. The magenta dots that appear on the bbsqueeze are your heads up that a bollinger band squeeze is occuring and it may be time to watch for a trade. All of the other indicators must line up - DPO must cross waterline, bbhisto must print appropriate coloured dot, Macd signal must corroborate and Bandwidth must be rising and be ready to or already crossing the .0056 level. When all the ducks are in a row that is theoretically when one pulls the trigger. Please be aware that this is currently just a test set up for MT4 in an attempt to mimic GCT'S entries. Needs some practice as it is not quite as mechanical as GCT's method on the IT Finance platform. Practice before you play!
- #190
- Dec 10, 2007 5:11pm Dec 10, 2007 5:11pm
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
- #191
- Dec 10, 2007 8:41pm Dec 10, 2007 8:41pm
- | Commercial User | Joined Oct 2007 | 1,015 Posts
Thank you sir...I was able to find that site last night...still haven't found how to add bandswidth...still looking though, thank you!
Hey Colostar, check out the following: http://www.metaquotes.net/ Look for the the Users guide under the support tab and the technical analysis tab for info on the indicators, etc. The following site may also be of use to you http://www.metatrader.info/node/117 . It takes a bit of time to learn the basics but in the end will be worth the work. Good luck!
Thank you sir...I was able to find that site last night...still haven't found how to add bandswidth...still looking though, thank you!
Are you still using the BAT system with the squeeze? if so how is it working out for you? It seems with the BAT there are not many signals as much as the squeeze.
- #193
- Dec 10, 2007 10:35pm Dec 10, 2007 10:35pm
- | Commercial User | Joined Oct 2007 | 1,015 Posts
Yes I still use the Bat method. Although lately it has definitely slowed down. The market doesn't seem to be trending as well it was before. When I first started using it, it gave a signal almost everyday. BILLBSS once told me that the BAT method doesn't work well in a ranging market...boy was he right! I keep watching it, even though my last 3 orders in a row stopped out (2 buy signals and a sell signal), and I only look to gain 20 pips per trade. Today sell signal (if it hits) doesn't look good, unless it corresponds with a negative news release for GBP or positive release for USD. I am definitely not as aggressive with it as I once was!! It'll come back..the markets always go back to the trend eventually! If you have questions about it..please do let me know! As for now, I am having fun with the squeeze method!! Me like!
As for now, I am having fun with the squeeze method!! Me like!Hey Colostarr,
Are you still using the BAT system with the squeeze? if so how is it working out for you? It seems with the BAT there are not many signals as much as the squeeze.
- #195
- Dec 10, 2007 11:02pm Dec 10, 2007 11:02pm
Correct, It has narrowed up again and we are getting a possible entry, will post when this is so. It is down to a 0.0044, just a matter of time now. 
GCTrader
http://img214.imageshack.us/img214/3...xeurjpyhi0.png
GCTrader
http://img214.imageshack.us/img214/3...xeurjpyhi0.png
- #198
- Dec 11, 2007 12:29am Dec 11, 2007 12:29am
- | Commercial User | Joined Oct 2007 | 1,015 Posts
Awesome....I have been fiddling with the MT4 chart created by fxhermit...and it gave me the identical signal! I wanted to double check it, and low and behold here is your post! I'm in at 164.71. Thank you for the chart FXhermit and thank you for this system GCtrader!!
System has given a green light for a long. In at 16464.1 with half unit as it is nowhere near a pivot point which doesnt make it as effective a signal. With the tankan out on friday and bad news expected im still optimistic and going with the fundamental trade. Still be nice if it bounced off the pivot point. 1st TP is at 16500
GCTrader
http://img101.imageshack.us/img101/9...xeurjpytn2.png
- #199
- Dec 11, 2007 2:19am Dec 11, 2007 2:19am
No worries Colostarr,
You probably want to write in code somehow like mine, that gives an entry signal which coincides with the pivot point. As you can see from the charts above, there is no green buy bars up the top which means it is not a strong buy. If it was breaking out above a pivot point, then that is pure gold! This trade is part of my system but still provides plenty of good entries.
Lets see what the market holds for us!
GCTrader
You probably want to write in code somehow like mine, that gives an entry signal which coincides with the pivot point. As you can see from the charts above, there is no green buy bars up the top which means it is not a strong buy. If it was breaking out above a pivot point, then that is pure gold! This trade is part of my system but still provides plenty of good entries.
Lets see what the market holds for us!
GCTrader
- #200
- Dec 11, 2007 2:28am Dec 11, 2007 2:28am
- | Commercial User | Joined Oct 2007 | 1,015 Posts
Sorry sir but you are talking with someone that has trouble figuring out how to install a bandwidth ind. Writing code is something I am no good at. I do understand the principles of your system though. I have price no where near any pivot point right now. It was my first attempt at a trade. Volatility seems really low right now with EJ...however with GJ I managed to nab 35 pips! Waiting now for Tp 165.00 on ej!! Thanks again!
Waiting now for Tp 165.00 on ej!! Thanks again!No worries Colostarr,
You probably want to write in code somehow like mine, that gives an entry signal which coincides with the pivot point. As you can see from the charts above, there is no green buy bars up the top which means it is not a strong buy. If it was breaking out above a pivot point, then that is pure gold! This trade is part of my system but still provides plenty of good entries.
Lets see what the market holds for us!
GCTrader