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Dollie's Safe Pips Indicator

  • #741
  • Dec 13, 2007 12:23am Dec 13, 2007 12:23am
Golfer: Dynamic zone is the best! It's easy: Just green over blue line with separation going long, and the reverse going short. that's it.
  • #742
  • Dec 13, 2007 12:44am Dec 13, 2007 12:44am
Quoting pip pirate 2
Golfer: Dynamic zone is the best! It's easy: Just green over blue line with separation going long, and the reverse going short. that's it.
Hi PP2

Thanks for trying to help me. That I do understand (there needs to be a separation) - but what do you see as "separation" (between the blue and the green line)? Where eyevoltage draw his vertical line 1 - I don't see separation between their blue and green line. The only separation I can see each between the vertical line 1 and 2. And then again just after vertical 3.

That is why I've tried to link this indicator with all the other signs/signals but I just couldn't get the picture. That is why I deleted it from my charts.

Sorry to bother you but I am really frustrated. I want to see this indicator working but it is just not there. I'm sure it will take some time - hopefully I will be getting there soon.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #743
  • Dec 13, 2007 3:08am Dec 13, 2007 3:08am
Hi Golfer,

I would love to try the second dollie indicator that you are using (the ADX 13 one), but have been having trouble overlaying the indicators correctly. I'm not sure what I am doing wrong. Would it be possible to get your template? I want to see how it filters some of the trades if it would not be too much of a bother for you to attach it. Have a great day (night?)!
  • #744
  • Dec 13, 2007 3:35am Dec 13, 2007 3:35am
Quoting mhb28
Hi Golfer,

I would love to try the second dollie indicator that you are using (the ADX 13 one), but have been having trouble overlaying the indicators correctly. I'm not sure what I am doing wrong. Would it be possible to get your template? I want to see how it filters some of the trades if it would not be too much of a bother for you to attach it. Have a great day (night?)!
Hi Mh

No problem - yes it is still morning in South Africa (GMT plus two hours).

I had the very same problem. In the past I've struggled with the MT4 platform. Now it's getting better.

I'll post it later today - I cannot normally access my platform during the day(working time) because of our firewall. I do use special software. You just need to have all the indicators are already on your platform.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #745
  • Edited 6:33am Dec 13, 2007 6:24am | Edited 6:33am
Quoting Golfer
Hi EyeV
I just don't understand the dynamic RSI. To me it seems like the indicator is just zig-zag all over the place. Maybe it is just a case of "not understanding the indicator". Take for example your chart: just before your vertical line 1: the green line was moving all (zig-zag) over the blue line. What made you decide that now the indicator has started moving in a direction? Sorry but I don't see it. Or am I missing the point/function of the indicator?
Hi Willem.
I can understand your confusion, and I think maybe it's because of my description. Pip pirate2 is right when he says "green crosses blue" etc, but I think there's a little more to it than that. Basically, the whole thing revolves around a Bollinger Band with the middle band being the red dotted line. The green line is an RSI and the blue line is an MA, and they're both interacting with each other all the time within the BB. The important thing I think I should point out with regard to my chart and analysis is that I didn't decide that the indicator had started moving in a particular direction where I drew my first yellow vertical line. Yes, you're right when you point out that the green line was zig-zagging back and forth over the blue line before my 1st yellow vertical. However, all that action was happening in a typical Bollinger Band "squeeze", where price action is usually pretty stable at that time. I kept an eye on each zig-zag to see if there would be any sign of a break-out. Four periods after my vertical line, the first signs of a break-out occured with the green RSI line breaching the upper band, whilst at the same time, the lsma3 was crossing into the orange/blue zone. As the green RSI line continued to show strength outside the BB, it was then just a case of watching and waiting for a suitable entry point which occured as described in my original post. So, again, the 1st vertical line didn't signal anything other than an INDICATION of a POSSIBILITY of something happening, that's all. In this case, something did, but obviously, it doesn't always end up that way! Hope that clears things up for you, mate.
Cheers
  • #746
  • Dec 13, 2007 7:46am Dec 13, 2007 7:46am
For those who scalp I really recommend using the MTF ADX indicator. It has stopped me from chasing every move and has cut down on my losing trades.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1213.gif Size: 42 KB
Attached File(s)
File Type: ex4 ADX MTF.ex4   14 KB | 328 downloads
  • #747
  • Dec 13, 2007 9:02am Dec 13, 2007 9:02am
Here is a quick 10 pip trade on the 1min charts. Everything lined up for me except I wasn't getting confirmation from the 1hour ADX. I did a quick switch to the actual 1hour chart and saw that it was the 2nd candle going long and Dollie itself was giving a long signal at the 1hour timeframe. Because of this I decided to get in the trade but because the ADX 1hour was still going against me I decided that I would aim for 10 pips and get out and I lucked out. I got my 10 pips and once I saw 2nd short candle I jumped ship. The following three charts are the 1min setup, the 1hour look & then the 1min after I got out.

I guess what I'm trying to say is that you really need to get a good feel for your system that you trade. Doing that will allow you to make better analytical decisions.

Newbies - My advice would be just watch Dollie's original window for a month live and see how those indicators work. Once you get her down you can move on and add a few more indicators that you like. There are some great combinations on this thread (Eyevoltage, PipPirate, Dollie's 2nd, Golfer ect...). Don't get discouraged. You will lose money. It is inevitable because once you trade live your emotions will take over. Start with mini lots or 10,000 and as you gain experience you can add lots. Don't do what I did. I started trading live after a month of researching using 100,000 lots with a $3,000 account and I was down to $800 bucks in a month.

I stopped trading for 3 months and just watched the charts whenever I had free time concentrating on Dollie. Once I felt confident I started trading 10,000 lots and started to build my account back up.

I now flirt with the idea of trading 200,000 lots ($20 a pip for US pairs - WOW!!!) but I am afraid. The wins would be great but I don't think I could emotionally handle the losses.
Attached Image(s) (click to enlarge)
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  • #748
  • Dec 13, 2007 9:18am Dec 13, 2007 9:18am
This is a good example of DZ action before a price move. I didn't take this, as I wasn't at the computer at the time, but I thought it would be helpful in relation to my last post.

Look in the blue rectangle. The bollinger band is in a squeeze, indicating that price is pretty stable and isn't moving much. Inside, the green RSI and the blue MA are interacting all the time, but a glance at the price action above, and a look at what's happening in the dollie window, soon lets you know that there's nothing on yet. Then, the green line crosses below the blue (1st yellow vertical) and you'd think: "Ah, this could be a short trade." However, look at the dollie window and you'll see that there's hardly any reaction from the ASH, which you would expect to start making a strong movement upwards, which it isn't. Yes, there's movement from it, but nothing substantial. Then, there's a very strong movement from the green RSI upwards (just before the 2nd yellow vertical), accompanied by the RSI2/CCI6 combination crossing the zero line in the dollie window. Additionally, the bollinger band is widening very nicely. The 3rd yellow vertical shows a good entry point for going long, as the lsma3 enters the orange/blue zone. From then on, it's a matter of following Guppy's ST's, which are nicely separating, with an exit anywhere you like between the two yellow arrows. However, the orange/blue zone in dollie's window gives you every incentive to let it run right to the 2nd arrow, as that's where the lsma3 leaves the zone and enters OB territory.
Hope this helps.
Attached Image
  • #749
  • Dec 13, 2007 9:52am Dec 13, 2007 9:52am
Great explanation Eye. I don't want to seem like I'm beating a dead horse but I think you reiterated my point. You need to know your system before you trade it. I think too many people trade a system and don't even understand it, I did the same thing when I started.
  • #750
  • Dec 13, 2007 9:54am Dec 13, 2007 9:54am
Quoting eyevoltage
This is a good example of DZ action before a price move. I didn't take this, as I wasn't at the computer at the time, but I thought it would be helpful in relation to my last post.

Look in the blue rectangle. The bollinger band is in a squeeze, indicating that price is pretty stable and isn't moving much. Inside, the green RSI and the blue MA are interacting all the time, but a glance at the price action above, and a look at what's happening in the dollie window, soon lets you know that there's nothing on yet. Then, the green line crosses below the blue (1st yellow vertical) and you'd think: "Ah, this could be a short trade." However, look at the dollie window and you'll see that there's hardly any reaction from the ASH, which you would expect to start making a strong movement upwards, which it isn't. Yes, there's movement from it, but nothing substantial. Then, there's a very strong movement from the green RSI upwards (just before the 2nd yellow vertical), accompanied by the RSI2/CCI6 combination crossing the zero line in the dollie window. Additionally, the bollinger band is widening very nicely. The 3rd yellow vertical shows a good entry point for going long, as the lsma3 enters the orange/blue zone. From then on, it's a matter of following Guppy's ST's, which are nicely separating, with an exit anywhere you like between the two yellow arrows. However, the orange/blue zone in dollie's window gives you every incentive to let it run right to the 2nd arrow, as that's where the lsma3 leaves the zone and enters OB territory.
Hope this helps.
Hi Eyev

Excellent job explaining it. You should have been in my job - a lecturer.

I am studying right now and will look for other similair setups. I'll let you know how I'm doing. Slowly starting to make sense.

Tx Eyev & PP2 for the support.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #751
  • Dec 13, 2007 10:01am Dec 13, 2007 10:01am
Quoting jcblcs79
Great explanation Eye. I don't want to seem like I'm beating a dead horse but I think you reiterated my point. You need to know your system before you trade it. I think too many people trade a system and don't even understand it, I did the same thing when I started.
Hi Jc

Totally agree with you - I've seen that with that 5min system I am trading - people don't understand the principles but they want to use it to make quick bucks. Doesn't work like that.

I'll only trade the system which I understand - that is why I went back to the original Dollie system. And that is why I deleted some of the indicator windows I don't understand. It was just confusing.

Now I try to keep it as simple as possible. And then add some more once I am familiar with it. Just like I've done with the 5min system I am studying.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #752
  • Dec 13, 2007 10:03am Dec 13, 2007 10:03am
Quoting mhb28
Hi Golfer,

I would love to try the second dollie indicator that you are using (the ADX 13 one), but have been having trouble overlaying the indicators correctly. I'm not sure what I am doing wrong. Would it be possible to get your template? I want to see how it filters some of the trades if it would not be too much of a bother for you to attach it. Have a great day (night?)!
Hi Mh

The attachment as promised. It may change in future after EyeV's lecture. I hope it helps/works.
Attached File(s)
File Type: tpl dollie 200712 15min system.tpl   12 KB | 555 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #753
  • Edited 11:12am Dec 13, 2007 11:09am | Edited 11:12am
Quoting jcblcs79
Great explanation Eye. I don't want to seem like I'm beating a dead horse but I think you reiterated my point. You need to know your system before you trade it. I think too many people trade a system and don't even understand it, I did the same thing when I started.
Mate, you hit the nail on the head. I've never seen the point of trying to trade a system without at least making some effort to understand it first. The problem with this forum (and other forex forums) is that people come up with some great systems (like Dollie did), and then find themselves overloaded with all sorts of basic questions. Questions which could be answered by taking a little time to study and learn. In this game, we have the best resources of all to learn from, and they are the charts we use. The answer to any question is in there, if one bothers to study them in detail.

What irritates me is when I look in the Forex Beginner's threads, and see questions like: "Anyone out there got a really simple scalping system I can use? I'm just a newbie and can't be bothered studying all that Technical Analysis stuff. Just show me a system, tell me how to use it, and that'll do." And what about: "This system looks pretty cool. I can't be bothered reading the whole thread 'cos it's too long, so can anyone just give me a quick run-down on how to use it?"

Sometimes, words fail me..... No, really, they do!

Jc, by the way, great charts, mate, and you've really managed to nail scalping this system with your method. Well done!

Cheers.
  • #754
  • Dec 13, 2007 11:17am Dec 13, 2007 11:17am
Quoting Golfer
Hi Eyev

Excellent job explaining it. You should have been in my job - a lecturer.

I am studying right now and will look for other similair setups. I'll let you know how I'm doing. Slowly starting to make sense.

Tx Eyev & PP2 for the support.
No problem, Willem. It's nice to return the favour. You've shown enough patience with me regarding Phil's 5min Intraday system!

Best of luck.
Cheers
  • #755
  • Dec 13, 2007 12:21pm Dec 13, 2007 12:21pm
The attached chart shows the price between the 200 & 60 EMA. For those following my setups, this is an area that I wouldn't trade. I usually stay away from trades when the 2 EMAs converge or wait for the price to clearly breakthrough either EMA. They sometimes form a solid support or resistance other times they don't. I play it safe and don't take any of the reads.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddeadzone.gif Size: 40 KB
  • #756
  • Dec 13, 2007 2:35pm Dec 13, 2007 2:35pm
Thanks for the template golfer!
  • #757
  • Edited 5:02am Dec 14, 2007 4:51am | Edited 5:02am
I can't see much to fault this example. The 1st yellow vertical indicates a point where the DZ green line has just crossed the blue. At the same time, the CCI6 has just followed the RSI2 and crossed the zero line in the Dollie window. Price itself is coming off the Pivot line, which in itself is a very good sign, so now all we want is for the ASH to make some sort of significant move upwards. The 2nd yellow vertical indicates ASH crossing the zero just as Guppy is showing encouraging signs. Also, in the DZ we see the green/blue combination continuing to show strength, nicely spaced apart and heading downwards. At this point, the lsma3 hasn't entered the orange/blue zone, but it's the right colour and heading in the right direction. The CCI6, however, IS in the zone, so all in all, this is a good entry point, as the 1st yellow arrow indicates. After entry, there's a temporary stall of price on the M2 line, which seems to happen a lot in this situation. However, by this time, Guppy is looking REALLY good, with the ST's separating from the LT's, and the ST's themselves separating nicely. I like the look of the Bear candles, as they have practically NO Bull activity indicated at all i.e. VERY short shadows. S1 proves to be a worthwhile target, and it's here we jump ship, as ASH peaks in the OB zone, and conversely, RSI2 and lsma3 drop into the OS zone. A nice-looking trade where everything seemed to fall into place nicely.
Attached Image
  • #758
  • Dec 14, 2007 7:29am Dec 14, 2007 7:29am
Recently I've decided to save my charts as they developed because of the changes.

Just look at my first chart - Unfortunately I didn't catch this one - and see the setup as you will see it. I've highlighted the safe zones with 2 ellipse and 2 vertical lines. As well as the entry (opening of candle) and exit (opening of candle) of the trade for about 30pips.

Can you see that on EyeVoltage's chart's the Isma would have been in the save zone?

Now look at the second chart - see how the situation has changed. Just look alomost like EyeVoltage's chart. That is reason why backtesting this system is so difficult. I am rather going tot test my system live.

It is very important to save ones chart when opening the trade to see how it was at the begining of the trade. The same with the exit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071214 dollie setup 1a.gif Size: 22 KB
Click to Enlarge Name: 20071214 dollie setup 1b.gif Size: 22 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #759
  • Dec 14, 2007 9:22am Dec 14, 2007 9:22am
Attached is a trade I just got out of. If I was more patient I could have got 30 more pips. Oh well, hindsight is always 20/20.
Attached Image (click to enlarge)
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  • #760
  • Dec 17, 2007 8:18am Dec 17, 2007 8:18am
I know I didn't, but I sure wish I had! Only must managed to sit down for any length of time after being busy doing other things, and decided to just browse through the different pairs and this one literally smacked me in the eye!! What a beauty!
The first heads-up in the DZ zone comes at a time when the BB is in a squeeze and therefore not looking promising. However, experience tells me that with this method, it's always worth keeping an eye on what at first glance doesn't look very good. On the first vertical line, we see the DZ green/blue cross over, whilst in the Dollie window, the RSI2/CCI6 has moved/is moving across the zero line. The ASH is looking promising with its downward movement, so we're waiting for a positive movement from lsma3 and a suitable entry point just above the Pivot Point. As you can see, the first yellow arrow indicates the eventual entry point at the spinning-top just above the PP. Maybe a spinning-top isn't ideal, but Guppy is starting to look very positive, so in we go. And what a lovely ride up this would have been! Only a momentary pause at the doji (marked by the yellow cross) to catch our breath, then it's all systems go to R1 and a quick exit (2nd yellow arrow), as the lsma3 enters OB territory to keep the RSI2 company! I make that a potential profit of 107 pips after spread, and I sure hope SOMEONE out there got it!
Attached Image
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