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Pivot Point Squeeze, high probability system

  • #541
  • Jan 2, 2008 6:53am Jan 2, 2008 6:53am
Hmmm, interesting. As this is what I see and there is no trade evident.

The BBW did not get down low enough to be a valid signal.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 23 KB
  • #542
  • Jan 2, 2008 6:58am Jan 2, 2008 6:58am
hi eastcity,

no probs... happy new year to you all...

no rush, that time of year, I'll see if Alexish is around and drop him a line.

thanks,
guess

Quoting eastcity
guess 121,

Sorry for delay because of New Year, I had hoped that someone more skilled in mq4 programming than myself could take over and process it further. If noone does let me try to return with a compile-able script, it might take me a couple of days.

regards

Ola
  • #543
  • Jan 2, 2008 3:44pm Jan 2, 2008 3:44pm
Jamdragon888

I am trying to get the squeeze indicator to work on CMC Marketmaker a variant of Pro realtime and noticed you also seemed to be doing the same? How are you doing with the coding?

David
  • #544
  • Jan 2, 2008 4:29pm Jan 2, 2008 4:29pm
Quoting divad
Jamdragon888

I am trying to get the squeeze indicator to work on CMC Marketmaker a variant of Pro realtime and noticed you also seemed to be doing the same? How are you doing with the coding?

David
David,

Copy and paste code from this post and it should work fine! CMC req. a slight change in code.

GCT

http://www.forexfactory.com/showpost...&postcount=405
  • #545
  • Jan 2, 2008 5:26pm Jan 2, 2008 5:26pm
And this is why I keep differing time periods open. As said previous, 15min charts work very well alongside the 1 hour. A very nice trade and 1 very happy camper! It broke through the pivot and signaled a textbook trade.



GCT
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 24 KB
  • #546
  • Jan 2, 2008 6:02pm Jan 2, 2008 6:02pm
HI GCT1 - happy new year to you and to the others on the thread! Glad to see you are prospering with the system.
I am looking forward to catching up with the evolution of the thread.
Cheers,
IB
  • #547
  • Jan 2, 2008 6:04pm Jan 2, 2008 6:04pm
Divad,

Below is the code I had on CMC. I switched to ProRealtime, but I'm waiting for some assistance from GCTrader on that one.

Cheers,

Jam

b=18
L=(lowest[period](BollingerBandWidth[18](close)))+C
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))*100)>round((MACDline[5,13,1](close[1]))*100) then

trigger = 1

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])*100))) - (abs(round(MACDline[5,13,1](close)*100)))>=A then

trigger = 0

endif
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))*100)<round((MACDline[5,13,1](close[1]))*100) then

trigger = -1

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])*100))) - (abs(round(MACDline[5,13,1](close)*100)))>=A then

trigger = 0

endif
return trigger
  • #548
  • Jan 2, 2008 11:04pm Jan 2, 2008 11:04pm
Quoting Scarlett
The indicator drawn by Alexish is stunningly beautiful and it is a great "heads up."

...................
Most joyful New Year to all here!

PS My comments are to post 520 FX97. Thanks
Thanks Scarlett
  • #549
  • Jan 2, 2008 11:08pm Jan 2, 2008 11:08pm
Quoting GCTrader1
Hi FX97,

.....

Thats not to say that the lower timeframes are not trade-able, which I do, but are more prone to false signals, or head-fakes.

GCTrader
Thanks got it...
  • #550
  • Jan 3, 2008 3:19am Jan 3, 2008 3:19am
Jamdragon888

Thanks for code but

Tried both sets of code for sqeeze still the same blank indicator no matter what settings also same as your self trigger float will not go lower than 0.001 whether this makes a difference? What timeframes and settings have you got it to work on?

Thanks for your help

Divad
  • #551
  • Jan 3, 2008 4:46am Jan 3, 2008 4:46am
Hi CGT,

Thanks for your reply re the entry clarification (and I look forward to the other when you have the chance, thanks).

Back in post #306, you posted this chart ... I'm wondering why the LONG trade didn't show an entry indication about 4 bars earlier, when the histogram first started to increase (and this was why I'd questioned whether it had to re-cross the trigger line)? Is it possible that the histogram increase 4 bars earlier was less than .0001, so it wasn't a 'true' for the coding statement to show an entry indication?

Thanks, Johnny.

http://img208.imageshack.us/img208/9...xgbpjpyak9.png
  • #552
  • Jan 3, 2008 12:52pm Jan 3, 2008 12:52pm
This trade worked out well even though it may not have been strictly according to the rules. I thought it was worth a shot since the squeeze alert sounded and the price had bounced off the weekly pivot (green horizontal line). Interesting how it dropped and bounced from the monthly pivot. (blue horizontal line).

It was an unpopular trade around here though since it was 1:00 a.m. when the alert sounded and I had my laptop on my night stand and my wife gets up at 6:00 for work...

Just checking to see how the alert would work...seems fine.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 29 KB
  • #553
  • Jan 3, 2008 12:55pm Jan 3, 2008 12:55pm
What settings are you using on the sqeeze5 indicator ?


Quoting sundowner
This trade worked out well even though it may not have been strictly according to the rules. I thought it was worth a shot since the squeeze alert sounded and the price had bounced off the weekly pivot (green horizontal line). Interesting how it dropped and bounced from the monthly pivot. (blue horizontal line).

It was an unpopular trade around here though since it was 1:00 a.m. when the alert sounded and I had my laptop on my night stand and my wife gets up at 6:00 for work...

Just checking to see how the alert would work...seems fine.

Cheers
  • #554
  • Jan 3, 2008 1:26pm Jan 3, 2008 1:26pm
Hi,

My settings are the standard ones except I set the bands to 18,2 and turn off the pivots.
  • #555
  • Jan 3, 2008 5:20pm Jan 3, 2008 5:20pm
Quoting JohnnyFOREX
Hi CGT,

Thanks for your reply re the entry clarification (and I look forward to the other when you have the chance, thanks).

Back in post #306, you posted this chart ... I'm wondering why the LONG trade didn't show an entry indication about 4 bars earlier, when the histogram first started to increase (and this was why I'd questioned whether it had to re-cross the trigger line)? Is it possible that the histogram increase 4 bars earlier was less than .0001, so it wasn't a 'true' for the coding statement to show an entry indication?

Thanks, Johnny.
Hey Johnny,

Yes, sometimes on the BBW it looks like an increase but it isnt quite enough to signal a trade. I look forward to your input with coding issues and improvements.

GCT
  • #556
  • Jan 3, 2008 5:26pm Jan 3, 2008 5:26pm
Quoting divad
Jamdragon888

Thanks for code but

Tried both sets of code for sqeeze still the same blank indicator no matter what settings also same as your self trigger float will not go lower than 0.001 whether this makes a difference? What timeframes and settings have you got it to work on?

Thanks for your help

Divad
Hey Divad,

I have heard that problem as well from other users of cmc. The code should be able to be modified to accommodate this restriction. I will work on it later and post it to you.

GCT
  • #557
  • Jan 3, 2008 5:36pm Jan 3, 2008 5:36pm
Quote
L=(lowest[period](BollingerBandWidth[18](close)))+C

Hi GCT, I note in 2 versions of this code you have L=(lowest[period] or L=(lowest[SAMPLE] ... I'm presuming the 'period' or 'SAMPLE' should actually be replaced with a figure, or an assigned variable, but I cannot locate either.

Can you please advise, thanks - Johnny.
  • #558
  • Jan 3, 2008 8:38pm Jan 3, 2008 8:38pm
Quoting JohnnyFOREX
Hi GCT, I note in 2 versions of this code you have L=(lowest[period] or L=(lowest[SAMPLE] ... I'm presuming the 'period' or 'SAMPLE' should actually be replaced with a figure, or an assigned variable, but I cannot locate either.

Can you please advise, thanks - Johnny.
They aren't a set value, that is a variable which you enter into the variables column on the top right to which you can put a default value such as 38.

GCT
  • #559
  • Jan 3, 2008 8:47pm Jan 3, 2008 8:47pm
No trades atm on the PPS. BBW on the 1H is still at 0.0113

GCT
  • #560
  • Jan 4, 2008 3:34am Jan 4, 2008 3:34am
A trade on the Aussie is developing on the 15min chart. If it breaks above the PP, the entry signal given would be a solid one especially given the current BBW level of 0.0015. Going long would also be in the direction of the interest rate differential. The 1H however is still at 0.0046 with the trigger level at 0.0032 so some consolidation around this level is a high probability.

GCT
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX AUD_USD (-).png Size: 27 KB
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