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Pivot Point Squeeze, high probability system

  • #361
  • Dec 20, 2007 2:52pm Dec 20, 2007 2:52pm
Alexish...

Your a legend...

Thank you!

Quoting ALEXISH
New Bands Squeeze v.2 with alerts for MT4!

Any errors? Please let me know..
  • #362
  • Dec 20, 2007 2:59pm Dec 20, 2007 2:59pm
Yes I agree with this as well... he is using MACD for something as well, which I need to go back and read again. Alexish, do you need the code that he written, I can supply this?

Thanks,
Guess

Quoting jonaslt
I'm wondering if instead of a concrete level if you could add a variable level option as GCT changed his to this, it's based on the last 132 bars I believe that's what he is using which is more accurate than a concrete level.

I need to start learning mt4 scripting soon bit my bit, heh
  • #363
  • Dec 20, 2007 3:02pm Dec 20, 2007 3:02pm
Quoting Omar46
Hi GCtrader,

Have been following your thread, addicted to it! Thanks so much.

I managed to set up the first Squeeze indicator & probacktest. I cant seem to get the new auto-update trigger indicator right though. Could you please do another one of the storybooks, if you dont mind.

Thanks again!!
Omar,

Who are you using for charts? Prorealtim or from a broker? IT-Finance charts are awesome, but they do have discrepancies between them that you need to be aware of in the code. The auto trigger removes the need to always adjust the trigger level from an arbitrary number to a number derived from the low of the previous sample period of the bollinger bandwidth. You can change timeframe and pair with little modification to the variables for it to work.

For example, here it is on the daily...just in case you dont want to be a day trader! Resulting in 961 pips since october 18. This system works with almost all timeframes.

http://img299.imageshack.us/img299/8...xaudusdfk1.png
  • #364
  • Dec 20, 2007 3:25pm Dec 20, 2007 3:25pm
Quoting guess121
Yes I agree with this as well... he is using MACD for something as well, which I need to go back and read again. Alexish, do you need the code that he written, I can supply this?

Thanks,
Guess
The MACD is used for the entry direction detection(say that 10 times real fast!lol) and also as a way of detecting a turnaround in the trend for exits, which I use in conjunction with pivot point TP levels and staging out.

GCTrader
  • #365
  • Dec 20, 2007 3:31pm Dec 20, 2007 3:31pm
A little to the side but GCT, for entry what difference are you looking for in the bandwidth while it's already under and how many bars do you look for for a confirmation of the increase, I know it goes together with pivot points and macd also for direction and there's some discretion just wondering what confirmations you try to look for.
I've been playing around with that last couple of nights and getting mixed results with different ideas heh
  • #366
  • Dec 20, 2007 3:43pm Dec 20, 2007 3:43pm
Quoting jonaslt
A little to the side but GCT, for entry what difference are you looking for in the bandwidth while it's already under and how many bars do you look for for a confirmation of the increase, I know it goes together with pivot points and macd also for direction and there's some discretion just wondering what confirmations you try to look for.
I've been playing around with that last couple of nights and getting mixed results with different ideas heh
Hey Jonas,

The code looks for a difference of 1, so if it reading 0.0030 and moves to 0.0031 it will signal an entry. The first bar to do so signals a trade. While adding in another bar that increases again could increase the reliability of the trades, im not having too much trouble with that anyway and it would of course signal you to enter after the bull has already run the gate in some instances.

If the system calls for a trade, then I trade. If it signals a trade while breaking any pivot point, I go in with more units because these moves tend to be more reliable and can be larger. Hope this has helped, but if you have any ideas that you think might help, please email me and I will code it and see how it runs!

GCTrader
  • #367
  • Dec 20, 2007 3:50pm Dec 20, 2007 3:50pm
Alexish,

This is the code.

b=18

L=(lowest[period](BollingerBandWidth[18](close)))+C

trigger = undefined

rem This is the buy setup which detects when the bollinger bandwidth has made a new low followed by an increase in bandwidth below the trigger line and the MACD is trending up.


if (round((BollingerBandWidth[b](close))*10000)-((BollingerBandWidth[b](close[1]))*10000))>=1 and BollingerBandWidth[b](close[1])<L and round((MACDline[5,13,1](close)))>round((MACDline[5,13,1](close[1]))) then

trigger =
endif

rem This is the exit setup which detects a turnaround in the MACD histogram. The turnaround threshold is determined by A

if abs((round(MACDline[5,13,1](close[1])))) - abs((round(MACDline[5,13,1](close))))>=A then

trigger =
endif
0
rem This is the short sell setup which detects when the bollinger bandwidth has made a new low followed by an increase in bandwidth below the trigger line and the MACD is trending down.


if (round((BollingerBandWidth[b](close))*10000)-((BollingerBandWidth[b](close[1]))*10000))>=1 and BollingerBandWidth[b](close[1])<L and round((MACDline[5,13,1](close)))<round((MACDline[5,13,1](close[1]))) then

trigger =-
endif

rem This is the exit setup which detects a turnaround in the MACD histogram. The turnaround threshold is determined by A

if abs((round(MACDline[5,13,1](close[1])))) - abs((round(MACDline[5,13,1](close)))) >= A then

trigger =
endif
0
return trigger
  • #368
  • Dec 20, 2007 3:53pm Dec 20, 2007 3:53pm
Thanks to GCTrader for this!!!

[quote=guess121;1768926]Alexish,

This is the code.
  • #369
  • Dec 20, 2007 4:59pm Dec 20, 2007 4:59pm
Quoting GCTrader1
Hey Jonas,

The code looks for a difference of 1, so if it reading 0.0030 and moves to 0.0031 it will signal an entry. The first bar to do so signals a trade. While adding in another bar that increases again could increase the reliability of the trades, im not having too much trouble with that anyway and it would of course signal you to enter after the bull has already run the gate in some instances.

If the system calls for a trade, then I trade. If it signals a trade while breaking any pivot point, I go in with more units because these moves tend to be more reliable and can be larger. Hope this has helped, but if you have any ideas that you think might help, please email me and I will code it and see how it runs!

GCTrader
I see, maybe I'm more pessimistic and want more confirmation haha, but in this case there would be a bit of false breakouts, especially in areas where on high time frame the bandwidth is decreasing or increasing by a small amount right before or after a breakout so it would potentially only show you a direction of where it will go for a small time but not necessarily a break out.
Not sure if what I said makes any sense let me know,
But like you said theres some discretion which trades to take and to leave so it works for you just trying to define better how to eliminate the bad ones myself, also in this way an EA would be able to exclude some bad ones.
  • #370
  • Dec 20, 2007 6:13pm Dec 20, 2007 6:13pm
Hi GCTrader,

I'm using the IGMarkets' IT Finance charts. Maybe you can tell me where I've gone wrong - I create a new indicator, paste the new trigger code post #283). Then when I validate it tells me I've got a syntax error, needing to define variables : period, A & C. I think its the variables I need help with- the 'Type', 'Restriction' and 'Default value" bit.

Should I be just editing the old/first squeeze indicator? Or am I right to create a new indicator.

I know zip about programming so please excuse my un-tech savvyness.

Guess121 - I saw an earlier post of yours where you said you had a problem with the new coding. Looks like you've managed to sort it out, any advise?

Thanks, and apologies for bothering you guys with the little nitty gritty bits. Ur time is much appreciated!

Cheers


Quoting GCTrader1
Omar,

Who are you using for charts? Prorealtim or from a broker? IT-Finance charts are awesome, but they do have discrepancies between them that you need to be aware of in the code. The auto trigger removes the need to always adjust the trigger level from an arbitrary number to a number derived from the low of the previous sample period of the bollinger bandwidth. You can change timeframe and pair with little modification to the variables for it to work.

For example, here it is on the daily...just in case you dont want to be a day trader! Resulting in 961 pips since october 18. This system works with almost all timeframes.

http://img299.imageshack.us/img299/8...xaudusdfk1.png
  • #371
  • Dec 20, 2007 6:19pm Dec 20, 2007 6:19pm
I will do a picture book guide when I get back from getting my teeth drilled...

  • #372
  • Dec 20, 2007 7:06pm Dec 20, 2007 7:06pm
Quoting GCTrader1
fx97,

False breakouts happen all the time unfortunately and there isnt too much you can do about it. Sure in hindsight people will tell you, oh it was because of this and that but hindsight is always 20-20. Sometimes there is no reason for it and no-one to this date has been able to consistently predict the market. It is a sea of rational and irrational people going in and out of the market, central banks manipulating the market and corporations hedging their large purchases in a years time.

So in saying that, I believe I have come up with a system that is right more times than not. I go in regardless, if I get stopped out, so be it. I know the real profitable trade is just one click away but if i dont hit that button, how am I to profit from a trade im not in?

Unfortunately, while I was out there was a trade I was keeping an eye on. I was waiting for it to break down and signal an entry. Low and behold I come back to this...



Typical, lol. Did anyone get in on the break down of the pivot point? Nice 40 pips of justice!

Hope I answered your question to a satisfactory level.

GCTrader
Thanks for your answer... and sorry the late post...
  • #373
  • Dec 20, 2007 7:44pm Dec 20, 2007 7:44pm
Quoting ALEXISH
My BBands Squeeze indicator for MT4.. I'm MQL4 programmer and can make EA ( or semi automatic EA ) for this system if some one post SETUP for open and close positions... (Sorry for bad English..)
ALEXISH,
Thanks for posting. You can find details about this system through word document posted by GCTrader. Look for post#33

http://www.forexfactory.com/showthre...t=57426&page=3

Fxhermit has done great job for applying this system to MT4 and just he said we definitely need more improvement. You sound like you are very efficient with MQL4 and your idea about creating EA and automating this system is great. I think this system is so great and with youe EA we can turn it to huge success for MT4 platform. Please let us know if you need anything..
  • #374
  • Dec 20, 2007 9:43pm Dec 20, 2007 9:43pm
have a long from pivot??
  • #375
  • Dec 20, 2007 10:05pm Dec 20, 2007 10:05pm
Quoting nklin88
have a long from pivot??
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled-1.gif Size: 50 KB


According to all the signs it's a yes I believe, I got in a little late since I just got back at 162.46 so sure hope it goes north we'll see. S/L 10 points under pivot.
  • #376
  • Edited 10:51pm Dec 20, 2007 10:39pm | Edited 10:51pm
Thanks for posting these metatrader charts guys.

I'm trading the 15 min chart and while I have the price at the pivot, I don't have the squeeze. The MACD on my chart is approaching zero...don't know if it will bounce or not.

Good luck

Sorry, Thanks for the indicator Alexish
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy4.gif Size: 32 KB
  • #377
  • Dec 20, 2007 11:00pm Dec 20, 2007 11:00pm
Quoting sundowner
Thanks for posting these metatrader charts guys.

I'm trading the 15 min chart and while I have the price at the pivot, I don't have the squeeze. The MACD on my chart is approaching zero...don't know if it will bounce or not.

Good luck

Sorry, Thanks for the indicator Alexish

Yeah, I've been looking at different tf but still not sure how much they correlate together while looking at the bandwidth, however, I trust in the system and the bandwidth was low enough on the hourly, even though we didn't have many bars under it..we'll see what happens
Looking at the 4H chart it would make sense for it to go up but then again you can't look for anything just to justify your trade I'm going with the initial signal and wait for it to go south.

On the 15min do you only trade the big breakouts that come on the 1H also or you take anything that triggers the low bw and pivots?
  • #378
  • Dec 20, 2007 11:08pm Dec 20, 2007 11:08pm
hi, can someone help me,

i use nokia n81, can i use it to trade??

i mean for smartphone trading

thank you

(sorry i post the wrong topic)
  • #379
  • Dec 20, 2007 11:19pm Dec 20, 2007 11:19pm
Quoting sundowner
Thanks for posting these metatrader charts guys.

I'm trading the 15 min chart and while I have the price at the pivot, I don't have the squeeze. The MACD on my chart is approaching zero...don't know if it will bounce or not.

Good luck

Sorry, Thanks for the indicator Alexish
Sundowner,
Is your chart from MT4 platform? If yes, are you using the indicators posted by fxhermit? how do you have many bollinger bands in your chart? are you doing that manually?
  • #380
  • Dec 20, 2007 11:20pm Dec 20, 2007 11:20pm
Quoting nklin88
hi, can someone help me,

i use nokia n81, can i use it to trade??

i mean for smartphone trading

thank you

(sorry i post the wrong topic)

nklin88,
which thread did you mean to post? Can you post thread name here? I would like to learn more about smartphone trading, mobile trading?
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