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Pivot Point Squeeze, high probability system

  • #561
  • Jan 4, 2008 4:20am Jan 4, 2008 4:20am
Thanks GCT,

Couple of questions here:

1) Any mechanical reason why you would not have taken that LONG trade earlier at about 23:30? I know it was just shy of the PP, but that would have been a discretionary 'no trade'. I'm presuming that by the rules this would have been a normal system trade entry, with no profit taken - ie. stopped out probably around 00:45?

2) What is the programming logic behind the number of bars that the trade entry indicator remains valid? Sometimes the indicator will show for only a couple of bars (such as in the above example), sometimes for many more bars. Is it simply that the histogram needs to be below the trigger and while ever the histogram bars are increasing, the trade entry indicator will continue to show (ie. paint more bars) ... or is there something deeper I've missed in the code?

P.S. Looking forward to the package (re my eMail) , as I don't think it's wise that I start 'in depth' until I'm sure I'm right up to date and have the correct 'logical' understanding.
  • #562
  • Jan 4, 2008 4:27am Jan 4, 2008 4:27am
Quoting JohnnyFOREX
1) Any mechanical reason why you would not have taken that LONG trade earlier at about 23:30? I know it was just shy of the PP, but that would have been a discretionary 'no trade'. I'm presuming that by the rules this would have been a normal system trade entry, with no profit taken - ie. stopped out probably around 00:45?
I was thinking the same thing. It wasn't shy of the PP, it pierced it. Looks like a clear buy signal given the system rules.

Excellent system overall though, quite similar to my own style of trading. GCT, have you backtested it on Prorealtime beyond 3 months? (for the hourly E/J setup)
  • #563
  • Jan 4, 2008 4:38am Jan 4, 2008 4:38am
Quoting JohnnyFOREX
Thanks GCT,

Couple of questions here:

1) Any mechanical reason why you would not have taken that LONG trade earlier at about 23:30? I know it was just shy of the PP, but that would have been a discretionary 'no trade'. I'm presuming that by the rules this would have been a normal system trade entry, with no profit taken - ie. stopped out probably around 00:45?

2) What is the programming logic behind the number of bars that the trade entry indicator remains valid? Sometimes the indicator will show for only a couple of bars (such as in the above example), sometimes for many more bars. Is it simply that the histogram needs to be below the trigger and while ever the histogram bars are increasing, the trade entry indicator will continue to show (ie. paint more bars) ... or is there something deeper I've missed in the code?

P.S. Looking forward to the package (re my eMail) , as I don't think it's wise that I start 'in depth' until I'm sure I'm right up to date and have the correct 'logical' understanding.
Hey Johnny,

1) The reason i didnt take the trade earlier was that I was well intoxicated up in Brisbane chasing tail, but if I wasnt getting any action and i didnt have a gorgeous brunette(i better not post those photos ) lying next to me, then yes I would have taken that trade for sure and probably exited for no profit.

2) When an entry is signaled it stays in the trade until the MACD has turned back on its original direction by a certain amount which is determined by the MACD threshold in the variable column in the code.

Hope this helps,

GCT
  • #564
  • Jan 4, 2008 4:46am Jan 4, 2008 4:46am
Ah - couple of things just clicked why some members may be having trouble getting the indicator to work correctly ... it could perhaps be due to confusion.

I see you've got 'trigger' defined twice, for 2 different purposes. In the SQUEEZE indicator, you do a 'return trigger' (in this case it's the trade entry trigger indicator).

Then you have another indicator called TRIGGER, which is probably more accurately defined as the 'trigger line' rather just the trigger.

Although it may now create further confusion if you made any code label changes, may I suggest that in the SQUEEZE indicator, you call the indicator returned for display as 'trade entry'? ... and in the TRIGGER indicator you call it the 'trigger line'?

Just some thoughts as to where an opportunity exists for confusion .

Cheers, Johnny.
  • #565
  • Jan 4, 2008 5:37am Jan 4, 2008 5:37am
Very true Johnny, a little confusing. I will change it in my updated pdf.

By the way, check out the new tick distribution charts! Have to make a system based on this beauty now! Any ideas Johnny? There insane! Check them out yourself from...

http://www.prorealtime.com/common/pa...ge=EN&from=GCT

Let me know what u think but im sure we can make another solid system off this extra information. Im in love...
Attached Image
  • #566
  • Jan 4, 2008 5:40am Jan 4, 2008 5:40am
And a close up
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  • #567
  • Jan 4, 2008 6:16am Jan 4, 2008 6:16am
How to understand these tick distribution or market profile:

Tick distribution uses intraday data and thus only work in intraday view.

The most important parameters are box height and box width. Generally, you use a daily view with tick distribution and a "box width" of 30 minutes.

ABOUT THE INFORMATION ON THE GRAPH :
The GREEN arrow is the opening price.

The first prices generated during the first (box width) minutes are labelled by boxes called "A" in the first column.
An initial box with height (box height) is created at the opening price.

If price goes outside the first box, a new box is created above or below the first one.

For the first (box width) minutes (usually 30), the boxes will be labelled A. After that, they will be labelled B. and placed in the column to the right of the first one. If there is price action in a box where there was also price action in the first 30 minutes, the B box will be placed to the right of the A box.

If there is price action in B where there was none in A (above or below for example), the B box will be slid to the left so that it is in the same column as the a boxes either above or below them.

The BLUE arrow is the last (current) price (shown to the right of the boxes).
The RED arrow is the price which has the most "boxes" to the right of it.
The thick RED LINE represents 70% of the ticks centered on the red zone - I believe this would be the zone of control.
The thick BLUE LINE represents the prices during the first 2 phases (A and B).

Or for an indepth video presentation go to:

http://www.cbot.com/cbot/pub/marketi...on/Anatomy.htm

put aside 30 minutes tho.
  • #568
  • Jan 4, 2008 6:19am Jan 4, 2008 6:19am
Quoting Trader KGB
I was thinking the same thing. It wasn't shy of the PP, it pierced it. Looks like a clear buy signal given the system rules.

Excellent system overall though, quite similar to my own style of trading. GCT, have you backtested it on Prorealtime beyond 3 months? (for the hourly E/J setup)

Thanks KGB, hope your doing well with it!

I will have to set it up on the backtest instead of an indicator with all the new code. Will let you know the results.

GCT
  • #569
  • Jan 4, 2008 9:31am Jan 4, 2008 9:31am
The attached indicators are similar


Quoting GCTrader1
Very true Johnny, a little confusing. I will change it in my updated pdf.

By the way, check out the new tick distribution charts! Have to make a system based on this beauty now! Any ideas Johnny? There insane! Check them out yourself from...

http://www.prorealtime.com/common/pa...ge=EN&from=GCT

Let me know what u think but im sure we can make another solid system off this extra information. Im in love...
Attached File(s)
File Type: mq4 marketprofile.mq4   5 KB | 741 downloads
File Type: mq4 Octaves_v4.mq4   22 KB | 880 downloads
  • #570
  • Jan 4, 2008 2:43pm Jan 4, 2008 2:43pm
Is the trigger level different for different pairs ? and the trigger count bar ?



Quoting joyrider
One more question, is the trigger value set at 0.001 for all currency pairs in the band squeeze v5?

Thanks.
  • #571
  • Jan 4, 2008 2:48pm Jan 4, 2008 2:48pm
See this:
http://www.forexfactory.com/showpost...&postcount=531

In return, can you describe (even though we are on GCtrader's thread) how to interpret those last two indicators you attached ? (if possible with some screenshots).

thanks

Quoting toddanderson
Is the trigger level different for different pairs ? and the trigger count bar ?
  • #572
  • Jan 4, 2008 4:01pm Jan 4, 2008 4:01pm
I posted the market profile indicators because it related to the other post
but i have not found a way to use them


Quoting endy
See this:
http://www.forexfactory.com/showpost...&postcount=531

In return, can you describe (even though we are on GCtrader's thread) how to interpret those last two indicators you attached ? (if possible with some screenshots).

thanks
  • #573
  • Jan 5, 2008 12:12am Jan 5, 2008 12:12am
For those members finding they are getting a flat line on the trade entry/exit trgger indicator with any curreny pair other than EUR/JPY, it is because the JPY pairs are expressed in 2 decimal places, whilst all other pairs are expressed as 4 decimal places.

This means that if you are using PRT or MarketMaker, with a pair that trades as 4 decimal places (ie. not involving JPY), then all MACD references in the code will need to be x 10000 instead of x 100).

I already have code that automatically detects the decimal value of the currency pair and automatically adjusts for this, but I have written it for another system, and am yet to pull it across to try and incorporate it into CGT's system - but as CGT will tell you, these things are on the drawing board.

Hope this helps out, cheers - Johnny.
  • #574
  • Jan 5, 2008 1:56am Jan 5, 2008 1:56am
GCT Trader is Banned ??
  • #575
  • Edited Jan 6, 2008 12:58am Jan 5, 2008 4:27am | Edited Jan 6, 2008 12:58am
Hey Johnny,

Nice picking up on why that code wont work. You use pro realtime or CMC markets or IGMarkets? That might be a clue as to why the code has to be modified again! I wish they could just use one value system. And again, your email is coming John! Tomorrow! I went up in a helicopter to see the damage of the floods here, unbelievable! It looked like an ocean out there! Also took pics of the big day out from 500 feet.

Funny as when we landed in a sports oval and ran to the toilet block in some little town that was flooded in! Should have seen them all come running out to see us! lol

At least someone thought of one way to make use of the floods! lol

John has made a few improvements to the code which should help with PRT users and hopefully CMC users. Let me know if it doesnt and I shall look into it.

Cheers for your help John.

Best Regards,
Dynami
Attached Image (click to enlarge)
Click to Enlarge Name: 6.JPG Size: 452 KB
Attached File(s)
File Type: doc JK BB Squeeze CODE.doc   31 KB | 740 downloads
  • #576
  • Jan 5, 2008 6:30am Jan 5, 2008 6:30am
Can I just say to those wot are in charge, GCT's contribution on this thread has been massive and very generous, and I would humbly request that you can come to an accommodation if possible.
Cheers.
  • #577
  • Jan 5, 2008 5:37pm Jan 5, 2008 5:37pm
what did he get banned for?
  • #578
  • Jan 5, 2008 8:48pm Jan 5, 2008 8:48pm
I believe it is a 2 week suspension due to posting a commerical link ... but also no doubt a very innocent mistake by GCT I'm sure. Hopefully, some leniancy will prevail here from the powers to be, as although this is one of the most professional forums I belong to, some tolerance or advance warning should apply when a member either intentionally or unintentionally does something against the rules.

This is an excellent thread and an excellent system with very good profit potential for us all, so hopefully development will continue.

Cheers, Johnny.
  • #579
  • Jan 5, 2008 8:59pm Jan 5, 2008 8:59pm
posting a commercial link?? ack...I may be guilty of that - what does that mean exactly? I was trying to help someone better understand something and I referred to a video on another website. I have to assume commercial links would be more like a sales/spam type post?
  • #580
  • Jan 6, 2008 4:18am Jan 6, 2008 4:18am
Quoting TIckerShuffl
posting a commercial link?? ack...I may be guilty of that - what does that mean exactly?
This is just a hunch, but I think it was because he posted referral links. You could tell by the way the link included "partner.phtml....=GCT" meaning he might have been paid for anyone who clicked the link. If my hunch is correct, I don't see why the mods don't just remove the links and give him a warning. A ban seems a bit excessive.. He's obviously been very generous & helpful with all of the info and support he's shown, FF needs more members like him!


****
Now onto GCT's interesting system, I setup a demo on IG to test it out. All settings were entered exactly as described in his original writeup. Since someone pointed out earlier the bug in the coding for 4-digit decimal pairs, I only ran the backtests on yen crosses (E/J, G/J, U/J, N/J, A/J, CAD/J). They all came out positive except for aud & cad, although in retrospect, I realize that the bollinger bandwidth parameter is tuned for EUR/JPY and should be configured differently for each pair.

Even with accounting for the lack of fine tuning by pair, the out performance of EUR/JPY was eye opening. 11 trades, all winners, resulting in a near doubling of the account in 3 months (with no compounding!). The 1H time frame is by far the most optimum, dropping down to 30M cut the gain in half, 10-15M were breakeven, anything below that resulted in a loss over the period. The average time between trades was 127 trading hours (~5 1/2 trading days). Still, for 100% accuracy over a 3-month period, that's well worth the wait. Once I get the other pairs fine-tuned with regards to bandwidth settings, I may have to demo PRT myself to see how the backtests stand up using several years worth of 1H data.

Thanks again GCT for sharing your system. I hope your situation can be rectified amicably so that you may join us here once again! (and I want to hear more about that brunette )
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