Where do you find this AO oscillator?
Howard
Howard
- #23
- Dec 30, 2007 1:42pm Dec 30, 2007 1:42pm
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Same Whore .... Different Dress
- #25
- Dec 30, 2007 3:04pm Dec 30, 2007 3:04pm
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- #27
- Dec 30, 2007 3:12pm Dec 30, 2007 3:12pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
What does "slat" mean?
Do u wait for the close of the bar? Or enter right away when the price breaks the MA?
Can u please show more pic. ex.?
As I read it, we wait for the close of the bar before entering.
- #28
- Dec 30, 2007 5:57pm Dec 30, 2007 5:57pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Hey, it's been fun so far.
I set that sell I was looking at (see post no 17) as soon as IBFX woke up. Currently up about 50 pips after nearly an hour.
This involved punching through Friday's low, so no idea if this will hold or not. On a live account, I would set a +2 BE and wait to see what happened.
It is a demo, so I have an undisturbed sl at -100. Great things, demos.
The next support is at 223.52, so I have set a tp at 223.61 to take account of the ridiculous spread IBFX have on the gy.
Ok, so the price may well go on down further still from there, but just short of 120 pips would make me a happy bunny.
I set that sell I was looking at (see post no 17) as soon as IBFX woke up. Currently up about 50 pips after nearly an hour.
This involved punching through Friday's low, so no idea if this will hold or not. On a live account, I would set a +2 BE and wait to see what happened.
It is a demo, so I have an undisturbed sl at -100. Great things, demos.
The next support is at 223.52, so I have set a tp at 223.61 to take account of the ridiculous spread IBFX have on the gy.
Ok, so the price may well go on down further still from there, but just short of 120 pips would make me a happy bunny.
- #29
- Dec 30, 2007 6:07pm Dec 30, 2007 6:07pm
Hey, it's been fun so far.
I set that sell I was looking at (see post no 17) as soon as IBFX woke up. Currently up about 50 pips after nearly an hour.
This involved punching through Friday's low, so no idea if this will hold or not. On a live account, I would set a +2 BE and wait to see what happened.
It is a demo, so I have an undisturbed sl at -100. Great things, demos.
The next support is at 223.52, so I have set a tp at 223.61 to take account of the ridiculous spread IBFX have on the gy.
Ok, so the price may well go on down further still from there, but just short of 120 pips would make me a happy bunny.
Do u set the TP exactly on the SR?
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- #30
- Dec 30, 2007 6:12pm Dec 30, 2007 6:12pm
Hey, it's been fun so far.
I set that sell I was looking at (see post no 17) as soon as IBFX woke up. Currently up about 50 pips after nearly an hour.
This involved punching through Friday's low, so no idea if this will hold or not. On a live account, I would set a +2 BE and wait to see what happened.
It is a demo, so I have an undisturbed sl at -100. Great things, demos.
The next support is at 223.52, so I have set a tp at 223.61 to take account of the ridiculous spread IBFX have on the gy.
Ok, so the price may well go on down further still from there, but just short of 120 pips would make me a happy bunny.
Do u set the TP exactly on the SR?
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- #32
- Dec 30, 2007 6:18pm Dec 30, 2007 6:18pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
So SR's are the take profits?
Do u set the TP exactly on the SR?
I set the tp at the next sr line because I am late into this trade. I set my tp at sr + the broker's spread of 9, so my tp is 223.50 (sr 223.41 + IBFX spread of 9). I worked this out incorrectly earlier; if hit, this tp will give me a profit of 130 pips - brilliant for a late entry into the trade.
Of course, this might not happen so my demo will lose money, or it might happen and then the market continues to plunge, so my demo will make nothing like it should have done. Hey ho. That's Forex for you. We shall see.
Edit:
Can't help myself. The price hit +53, so I set a +3 sl so the trade cannot turn into a loser.
- #33
- Dec 30, 2007 6:19pm Dec 30, 2007 6:19pm
I can make an EA for this method that trades this method by itself.
I just need someone to give me ALL and I really mean ALL the EXACT rules to this system
I just need someone to give me ALL and I really mean ALL the EXACT rules to this system
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- #34
- Dec 30, 2007 6:20pm Dec 30, 2007 6:20pm
No, so far as I can see there are no tp's in powerquest's strategy. PQ recommends exiting a trade when the price retraces to the sma line.
I set the tp at the next sr line because I am late into this trade. I set my tp at sr + the broker's spread of 9, so my tp is 223.50 (sr 223.41 + IBFX spread of 9). I worked this out incorrectly earlier; if hit, this tp will give me a profit of 130 pips - brilliant for a late entry into the trade.
Of course, this might not happen so my demo will lose money, or it might happen and then the market continues to plunge, so my demo will make nothing like it should have done. Hey ho. That's Forex for you. We shall see.
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- #35
- Dec 30, 2007 6:24pm Dec 30, 2007 6:24pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
You can see where I took out the sell if you look carefully for the arrow in the picture - it is a bit obscured by the red candlestick.
- #36
- Dec 30, 2007 6:27pm Dec 30, 2007 6:27pm
You can see where I took out the sell if you look carefully for the arrow in the picture - it is a bit obscured by the red candlestick.
December 16
20:00
The stoploss is 5 pips above the previous's close when you entered?
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- #38
- Dec 30, 2007 6:50pm Dec 30, 2007 6:50pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Ho Oksana17
Things were indeed a bit choppy around Dec 16th, and not just because that is my wedding anniversary.
However, I am looking at a 4H chart, which makes things much clearer. Change the tf to this, and there is only one clear sell signal, on the 17th. This would result in about +240 by the time the price next touched the 21 ema, or about +550 at the very bottom of the fall. Anyone here wouldn't have bailed out and laughed all the way to the bank at about +300?
On tonight's trade (+60 as I write), I set an arbitrary sl of 100 as this is a 4H trade. I understand that the higher the tf, the longer the trade is intended to last and so the deeper the sl. According to powerquest, this should have been the previous candle -5, but I was late into the trade and placed it right at the start of the trading week, so I claimed some lattitude.
You say you can write an ea to handle the trades if the strategy is made clear enough? This would be brilliant, so here is my understanding of powerquest's strategy:
Things were indeed a bit choppy around Dec 16th, and not just because that is my wedding anniversary.
However, I am looking at a 4H chart, which makes things much clearer. Change the tf to this, and there is only one clear sell signal, on the 17th. This would result in about +240 by the time the price next touched the 21 ema, or about +550 at the very bottom of the fall. Anyone here wouldn't have bailed out and laughed all the way to the bank at about +300?
On tonight's trade (+60 as I write), I set an arbitrary sl of 100 as this is a 4H trade. I understand that the higher the tf, the longer the trade is intended to last and so the deeper the sl. According to powerquest, this should have been the previous candle -5, but I was late into the trade and placed it right at the start of the trading week, so I claimed some lattitude.
You say you can write an ea to handle the trades if the strategy is made clear enough? This would be brilliant, so here is my understanding of powerquest's strategy:
- Buy orders:
- Price must have crossed and closed above 21 sma
- Awesome Oscillators bar must be green - the direction (up or down) seems not to matter.
- sl = lowest of previous candlestick - 5.
- Close when price retraces to touch 21 sma.
- Sell orders
- Price must have crossed and closed below 21 sma
- Awesome Oscillators bar must be red - the direction (up or down) seems not to matter.
- sl = highest of previous candlestick + 5.
- Close when price retraces to touch 21 sma.
It would be brilliant if you can write an ea to handle all this. I am at an elementary stage of using mql to write trading software. For example, I only recently learned how to get values from a Stochastic indicator, but have no idea how to divine the coulour of one of the ao bars. Given these restrictions on my ability, I will happily do anything I can to help.
Steve
Nb: the trade is currently +60. Nice.
- #39
- Dec 30, 2007 6:53pm Dec 30, 2007 6:53pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
By the by, Oksana17, I have looked at the 1h chart on 16th of Dec - really choppy.
Could it be that this strategy is better suited to the 4h chart I am looking at?
Could it be that this strategy is better suited to the 4h chart I am looking at?
- #40
- Dec 30, 2007 7:07pm Dec 30, 2007 7:07pm
Maybe, once I code the EA, may take a while, not too long though, because I am coding other EA's for people as well. Then, we can try it on all the timeframes and currencies that we want!!!
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