Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 289 | Forex Factory

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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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Attachments: Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
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Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

  • #5,761
  • Dec 27, 2007 6:07pm Dec 27, 2007 6:07pm
why you dont put all this information in an Expert Advisor, so its more easy to find out if this is a usefull or useless strategy?
  • #5,762
  • Dec 27, 2007 6:41pm Dec 27, 2007 6:41pm
Quoting winwin
why you dont put all this information in an Expert Advisor, so its more easy to find out if this is a useful or useless strategy?
Why do you want the easy way out?
Nothing beats time patience and effort.

EA's have been written for this but they were not too successful as this system uses a lot of discretion.

But if you will go through the post you will see the various attempts made at writing an EA.
The latest attempt was by Aragon.
Good Luck...

Happy Pipping...
T
  • #5,763
  • Dec 28, 2007 12:11am Dec 28, 2007 12:11am
Quoting Damo12
ee.fxfx hi.

What currencies does your chart depict?

regards,

D.

Its a gold chart
  • #5,764
  • Edited 3:28am Dec 28, 2007 3:16am | Edited 3:28am
Hey guys

Can someone please remind me what the recommended Laguerre gamma settings are for 1H charts? I know it has been stated several times but the thread is getting too big to look through every post.

TIA !
  • #5,765
  • Dec 28, 2007 8:13am Dec 28, 2007 8:13am
good video for new traders on understanding swing his/los

https://interactivebrokers.webex.com...ngID=301766935
  • #5,766
  • Dec 28, 2007 9:16am Dec 28, 2007 9:16am
I am a newbie, I have been looking at this thread for quite sometime and I am looking forward to learn more. I do not understand some of the terms used in the thread like 'medium term trade, price action, choppy market, momo' can anyone explain?
  • #5,767
  • Dec 28, 2007 9:26am Dec 28, 2007 9:26am
Hello Ninja

Is there an indicator that detects the swing high / lows for MT4?

Cheers


Quoting fx_ninja
good video for new traders on understanding swing his/los

https://interactivebrokers.webex.com...ngID=301766935
  • #5,768
  • Dec 28, 2007 10:24am Dec 28, 2007 10:24am
Hi there,
I'm going to hire a programmer to make an EA of this system.
Besides the .pdf file in the first post i'd like to know if there should be additional rules for the EA.

When it's completed i'll share the ea in this forum.
  • #5,769
  • Dec 28, 2007 11:17am Dec 28, 2007 11:17am
Is it possible to to alert on the LAGs? For example when the lags are topped out or bottomed out and they both start reversing? I believe from this thread and me watching this method the blue will start and then the red may soon follow if its a retracement or reversal. I wonder if simply alerting on the lags might be of value to someone not wanting to be glued to the monitor. This could signal a time to "review" a possible trade. Is there an indicator based alert that can watch and alert on the LAGs?
  • #5,770
  • Dec 28, 2007 11:56am Dec 28, 2007 11:56am
you can use fractals, but u still have to eyeball them.
  • #5,771
  • Dec 28, 2007 12:42pm Dec 28, 2007 12:42pm
thanks for the suggestion
  • #5,772
  • Edited 8:27pm Dec 28, 2007 2:21pm | Edited 8:27pm
Post 4676

"......I tried this indicator (Demark indicator) for about a week with your set-up for confirmation and it helped me to determine the overall trend..... "

===================================================
Hi rgitt05,
Could you please upload your Demark indicatod? Thanks a lot!--scardi
  • #5,773
  • Edited 6:20pm Dec 28, 2007 3:00pm | Edited 6:20pm
Quoting bshoe24
Is it possible to to alert on the LAGs? For example when the lags are topped out or bottomed out and they both start reversing? I believe from this thread and me watching this method the blue will start and then the red may soon follow if its a retracement or reversal. I wonder if simply alerting on the lags might be of value to someone not wanting to be glued to the monitor. This could signal a time to "review" a possible trade. Is there an indicator based alert that can watch and alert on the LAGs?
There are quite a few alert Indicators based on this. I have written two versions.

First updated version LISPA1a can be found at the following link:
http://www.forexfactory.com/showthread.php?t=51635

Second version LISPA2 can be found at the following link:
http://www.forexfactory.com/showthread.php?t=53189

There are some more alerts in this thread itself:
http://www.forexfactory.com/showpost...&postcount=964
http://www.forexfactory.com/showpost...postcount=2044
http://www.forexfactory.com/showpost...postcount=3014

chandra
  • #5,774
  • Dec 28, 2007 4:41pm Dec 28, 2007 4:41pm
thanks a bunch Chandra!
  • #5,775
  • Dec 28, 2007 9:19pm Dec 28, 2007 9:19pm
As a long time contributer to this thread and one that thanks imran and fxninja for not going crazy. I want to add some advice to everyone here..new or long time. They holy grail of trading is in our minds. No system or anything will replace overcomeing the traders greed or fear. The holy grail of trading is inside of us.

Happy Holidays!

Chris
Push yourself to your fullest potential!!
  • #5,776
  • Dec 28, 2007 9:39pm Dec 28, 2007 9:39pm
Also, here are the Lag 1, and 2, alerts that I use personally. In "Inputs" you have to set the "UseAlertSound" to "true" if you want the alert to sound, since default is set to false


Quoting bshoe24
Is it possible to to alert on the LAGs? For example when the lags are topped out or bottomed out and they both start reversing? I believe from this thread and me watching this method the blue will start and then the red may soon follow if its a retracement or reversal. I wonder if simply alerting on the lags might be of value to someone not wanting to be glued to the monitor. This could signal a time to "review" a possible trade. Is there an indicator based alert that can watch and alert on the LAGs?
Attached File(s)
File Type: mq4 Laguerre1Alert.mq4   4 KB | 746 downloads
File Type: mq4 Laguerre2Alert.mq4   4 KB | 760 downloads
  • #5,777
  • Dec 29, 2007 10:35am Dec 29, 2007 10:35am
Quoting syedks
too right, stupid me

By the way, It may sound funny but I really have to ask.
Which one of the following (red or green) on MACD is fast or slow MA? and is it EMA or SMA??? We already have MA on the main chat and wondering why we need it here on MACD???

thanks
no one has replied to the above question yet ..
- Syd [dust is my bed...]
  • #5,778
  • Dec 29, 2007 11:12am Dec 29, 2007 11:12am
Salam Imran, thanks for the profitable & simple technic.
But, I feel that SL 15 for high spread pairs such as GJ is not suitable especially during aggressive trend.
Just my opinion.
QUITTERS never WIN! WINNERS never QUIT!
  • #5,779
  • Dec 29, 2007 12:12pm Dec 29, 2007 12:12pm
Quoting dbeach777
Also, here are the Lag 1, and 2, alerts that I use personally. In "Inputs" you have to set the "UseAlertSound" to "true" if you want the alert to sound, since default is set to false

DBeach777....I installed the lag alerts into my "custom Indicator" files and dragged them to the chart, but they won't install....what's up with that???
thanks...
  • #5,780
  • Edited Dec 30, 2007 1:54pm Dec 29, 2007 3:20pm | Edited Dec 30, 2007 1:54pm
Quoting syedks
too right, stupid me

By the way, It may sound funny but I really have to ask.
Which one of the following (red or green) on MACD is fast or slow MA? and is it EMA or SMA??? We already have MA on the main chat and wondering why we need it here on MACD???

thanks
Hi syed,

MACD is based fully on EMA.

Whichever line turns first is fast (and the other is slow!). The smaller first number is fast (the second number is slow and the third number is the EMA of this 2EMA-difference itself). In the Plot, the fast line is the difference between these EMAs and the slow line is the EMA of this difference itself. The Histogram is the difference between these two lines. The MACD built-in the MT4 is an odd version than the rest of the world! (and my description is about the rest of world version, Traditional-MACD indicator).

If you want the details of why we use this: one of the common method is to use two big EMAs for main direction and trade using two small EMAs for entry-exits (only in the main direction). So, here we are suggesting to use 60-200 EMA as main direction (one can use MACD(60,200,1) also!) and trade only in that direction, but only when 12-26 EMA is agreeing (this helps to avoid entering while retracement is going). This is like double checking the current trend and can even be traded as such. But we add Lag on top of that which gives the final GO to the trade. So, basically we are using the double checking of trend as a filter and the Lag as the one to be followed at every cross (even there we try to use double Lag or one from higher TF).

I hope this clarifies your questions.

Regards,
chandra
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