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Attachments: "The Pip Nailer". Any time frame, any pair
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"The Pip Nailer". Any time frame, any pair

Ok, here is what happened on the Cable, last week on Friday.

Now although I wouldn't recommend trading this system on NFP day (unless you got balls), the point is the system survived the beast, and you would have made more than 60 pips, trading off the hourly charts.

There was no real reason to sweat, because you would have had your stop in place, and TP in place, just had to wait to see what happened, hehe.
Attached Image (click to enlarge)
Click to Enlarge Name: nfp_nailed.gif Size: 28 KB
Quoting forexmoments
Ok, here is what happened on the Cable, last week on Friday.

Now although I wouldn't recommend trading this system on NFP day (unless you got balls), the point is the system survived the beast, and you would have made more than 60 pips, trading off the hourly charts.

There was no real reason to sweat, because you would have had your stop in place, and TP in place, just had to wait to see what happened, hehe.
Interesting, is that using your 30SL/30TP ? I guess that would work if you have a sustained 70% strike rate.
Quoting rogerha
Interesting, is that using your 30SL/30TP ? I guess that would work if you have a sustained 70% strike rate.
No, that was not a 30SL/30TP. The PDF explains that the stop loss must be at the LOW OF THE NAILED CANDLE.

So in this case, the SL was around 65 pips. Therefore the TP was 65 pips, which was reached rather comfortably.
Here's an EA based on the ENTRY portion of this system. I'm still having difficulty programming for the exit. If any of you out there knows a programmer, do feel free to show them the code.
Attached File
File Type: mq4 PipNailer.mq4   11 KB | 1,786 downloads
Quoting pip_bagger
Thanks for posting your system. If I understand correctly (and even the simplest system can get tricky, especially when 'intuition' sneaks in), then you would have had six signals (see attached).


Your example trade seems to suggest that it is only the color, not the direction of the AC or AO that matters. That is, you will take a short if the AO is red and below the zero line and the AC is red and above the zero line (and the parabolic SAR is above the candle, of course). Is this correct?
Sorry pipbagger I forgot to answer your question. The answer is, it doesn't matter whether the AO or the AC is above or below the line - just look for the same colour on candle close.
I checked your EA in the strategy tester. I think that your openning order also when its not the first bar in both indicators.


Quoting Ronald Raygun
Here's an EA based on the ENTRY portion of this system. I'm still having difficulty programming for the exit. If any of you out there knows a programmer, do feel free to show them the code.
Don't ALL THREE indicators need to line up?

Buy:

Parabolic SAR goes from above price to below it
Accelerator Oscillator moves from Red to Green
Awesome Oscillator moves from Red to Green

the opposite for sell.
I had tried using PSAR on a 15M chart along with some other indicators for some other system awhile back, I just find that if one even wait for PSAR as one of the indicators as to when to exit, you can get killed big time especially if price moves swiftly. I had seen it as having its good and bad side, but waiting on a one hour bar seems like a very long, long time.
Looks like a nailed bar on the USDCAD 30 min chart.

Long at 1.0052
TP at 1.0079
SL at 1.0025
Attached Image (click to enlarge)
Click to Enlarge Name: nailed jan 9 08 USDCAD 30min.jpg Size: 205 KB
Hi, thanks for sharing your system.
I have one question, when the nailed candle has closed and a new begins, do all three indicators need to be lined up on the new candle for entry or do you just enter anyway?
Liberate me ex inferis
Hi, great system. However, I looked for this nailed candle in the 1h and 4h and could find a valid setup only proably once in 2 weeks or so. However, whenever a setup occurred it was almost a sure win. However, these setup, in my humble view, occur very very rarely. Is that something the others are also noticing?

Personally, I don't prefer any other tf other than 4 H.

Thanks again.
Quoting pip_bagger
Looks like a nailed bar on the USDCAD 30 min chart.

Long at 1.0052
TP at 1.0079
SL at 1.0025

Woke up to some profit this morning.
Good thing the stop was a hair below the low of the trigger bar cause it double bottomed before taking out the TP point.

Thanks Ash!
Attached Image (click to enlarge)
Click to Enlarge Name: nailed jan 9 08 USDCAD 30min exit.jpg Size: 211 KB
Quoting sundarvenu
Hi, great system. However, I looked for this nailed candle in the 1h and 4h and could find a valid setup only proably once in 2 weeks or so. However, whenever a setup occurred it was almost a sure win. However, these setup, in my humble view, occur very very rarely. Is that something the others are also noticing?

Personally, I don't prefer any other tf other than 4 H.

Thanks again.
I have noticed the same thing. I think that Ash mentioned that the system works on any pair, any time frame. So, if you want to trade it, you can look at a LOT of pairs, particularly if you are locked in to one timeframe.

Good Luck!
Quoting Ronyn76
Hi, thanks for sharing your system.
I have one question, when the nailed candle has closed and a new begins, do all three indicators need to be lined up on the new candle for entry or do you just enter anyway?
Hi Ronyn, no problem my friend.

Basically, when you have a Nailed Candle, you enter immediately.

Theoretically speaking, you should enter at the closing of the Nailed Candle, because sometimes the opening of a new candle is slightly off by a few pips. I.e. the opening of a new candle doesn't neccesarily mean it's at the same price of the the close of the previous candle.

So ignore whatever you might get on the candle after the Nailed Candle. Just place your trust in the Nailed Candle.

Hope this helps!
Quoting sundarvenu
Hi, great system. However, I looked for this nailed candle in the 1h and 4h and could find a valid setup only proably once in 2 weeks or so. However, whenever a setup occurred it was almost a sure win. However, these setup, in my humble view, occur very very rarely. Is that something the others are also noticing?

Personally, I don't prefer any other tf other than 4 H.

Thanks again.
Hi Sundarvenu,

You are correct. This is exactly why this system is so powerful. I agree that the signals are very rare. You could essentially go down to lower timeframes, but the spread per move is a bit high, (the lower you go).

This is why I said this system works on ANY pair, ANY timeframe. So if you just concentrate on 1 timeframe and 1 pair, you are not going to get many signals.
  • Post #36
  • Quote
  • Edited at 7:07pm Jan 9, 2008 6:49pm | Edited at 7:07pm
Quoting pip_bagger
Woke up to some profit this morning.
Good thing the stop was a hair below the low of the trigger bar cause it double bottomed before taking out the TP point.

Thanks Ash!
Your welcome pip_bagger!

I have to admit I thought it was going to hit our stop before going further upwards. Sometimes this will happen - you will get stopped out, due to a nasty ranging market for a couple of hours, and then it will reverse, and you wouldn't even have seen an exit sign, because all three indicators will still show an upwards movement (perhaps not in this specific example, but it occurs occassionaly).

When this happens, then guys, you need to use some discretion. Sometimes I do widen my stop slightly when I see a ranging market, just to let the pair breathe. This will only come with experience. You also need to be aware of fundamentals. Read up on fundies, trust me. Look at the stuff what NewstraderFX writes - an absolutely gifted fundamentals trader. Read the Financial Times. Read up on politics. Get educated.

I have made the system totally mechanical for the purpose of simplicity, so that it suits everyone.

And hey pip_bagger - happy you're enjoying and profiting from my system!
Quoting pip_bagger
I have noticed the same thing. I think that Ash mentioned that the system works on any pair, any time frame. So, if you want to trade it, you can look at a LOT of pairs, particularly if you are locked in to one timeframe.

Good Luck!
Exactly.
personaly, I think these, high probability, but rare set ups are the best. You are forced to practice patience, you will not overtrade but only take A+ trades and you will trade with a high confidence level. 1 winning trade per month beats 100 trades that give a negative result. They are easy to spot as its just a matter of checking the other indicators every time you notice the s.a.r change. I would have thought it possible to change the w/l ratio upto 1.5/1 or even 2/1 given the strength of the moves it seems to signal.
Very good work forexmoments
For a LONG, should the AO and AC be above the zero line? Or is it that we just care its a green color?
Hello Ash,

Thank you for introducing us to your system. Thought I'd post this Parabolic Sar Color Alert indicator for everyone to try out to save time from constantly monitoring the charts. Just set the values the same as default value on MT4
.02 & .20 You can set your Par Sar colors to match the AC and AO indicators on your chart so when there's a change all colors will have to change simultaneously to be valid. The Par Sar will send out a sound alert and pop up window when Sar changes from up to down. This way you can have multiple pairs set up on your chart with the Par Sar Alert enabled and when you hear an alert sound just check to see if it's valid.

Hope this will be of some use for every one.....T-Wolf
Attached Image (click to enlarge)
Click to Enlarge Name: par sar color alert.gif Size: 18 KB
Attached File
File Type: mq4 Parabolic SAR Color - Alert.mq4   3 KB | 2,484 downloads
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