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Trade the Slope System

  • #161
  • Jan 11, 2008 5:53am Jan 11, 2008 5:53am
Quoting COTtrader
Allvenis:

If you are constrained by time then simply Trade the EA on a larger time frame chart. According to my understanding NO entries are made UNLESS the LARGEST time frame SIGNALS FIRST. In other words, an initial signal is given on the largest time frame and then each smaller TF is scoped UNTIL ALL the TFs agree THEN an ENTRY is made.

COTtrader
"Ken"
))) So you mean I sould use Quarterly/Monthly/Weekly/Daily/H4/H1? I think it gives the same result. What I'm trying to say is that you should skip 3 lowest TF and use some other methods in order to make an entry.For example: Daily/H4/H1 and Stohastic or some other methods 'cause I believe it doesn't make any sense to use M30/M15/M5 for this system. Just open any chart and test so you will see exaclty what I mean.
  • #162
  • Jan 11, 2008 8:48am Jan 11, 2008 8:48am
Allvenis,

You can use any combination of timeframes you want. Just remember to keep in mind which timeframe you want to trade in.
  • #163
  • Jan 11, 2008 10:27pm Jan 11, 2008 10:27pm
Allvenis:

Keep it simple. Try demo trading the EA using the Daily/H4/H1 settings only and see what happens. Use a Northern Finance DEMO account. They have just about every cross pair you could imagine and then some.

Regards,

COTtrader
"Ken"



Quoting Allvenis
))) So you mean I sould use Quarterly/Monthly/Weekly/Daily/H4/H1? I think it gives the same result. What I'm trying to say is that you should skip 3 lowest TF and use some other methods in order to make an entry.For example: Daily/H4/H1 and Stohastic or some other methods 'cause I believe it doesn't make any sense to use M30/M15/M5 for this system. Just open any chart and test so you will see exaclty what I mean.
Decisions Determine Destiny -
  • #164
  • Jan 13, 2008 12:22pm Jan 13, 2008 12:22pm
I put the slope system up against the default setting macd on the daily time frame with GBP/JPY. I must say that sometimes the macd does a little bit better and sometimes the slope does a bit better. All in all in profitable pip count the two methods are almost identical in pips. Macd is about just as good. Not to burst any bubbles but this was the analysis. Paris
  • #165
  • Jan 13, 2008 11:57pm Jan 13, 2008 11:57pm
Been testing for a little over a week now, but have a question. I'm using V.2, with highest TF set to 240, yet I can't figure out why it's taking the usd/jpy trade shown attached. The 4 hour trend is clearly up, yet it entered the sell as shown. Is it because the indicator repaints, and it may have been signaling down at some point during the candle? Not sure what I'm missing. Also, are people closing trades manually or will the V2 close the trades upon highest TF color/trend change? Any help/explanation would be appreciated. Thanks!
Attached Image
Within apparent chaos there is order for those who know how to look
  • #166
  • Jan 14, 2008 1:40am Jan 14, 2008 1:40am
Hello Allvenis,

Based on this system, we do not actually use all 6 timeframes for entried.
every entry is only based on the lower 2 timeframes.
For example,if we would like to made an entry in daily chart, we only have to look at H4 and H1(or if you prefer look at M30 as well), this would be good enough for the entries.


Quoting Allvenis
I would like to say that this system is a good one but I realized some difficulties when I was testing it. First of all, I use Long term strategy explained on the first page of this thread since I usually work and do not have enough time to monitor all my positions every 1 or 4 hours.I would like to say that I do not think it is necessary to use all 6 timeframes in order to open a trade. Small timeframes give a lot of false entries and most of time you just buy on local highs. I have been thinking about this problem and decided to make a Money managment for this system and a simple one is like you divide your trading size on 3 parts and first entry will be exactly when you get a signal following the strategy, a second entry is on 50 pips less if you want to buy and a third one is on the same level as the first trade.Generally a big problem with the system is when market is in a flat.
  • #167
  • Jan 14, 2008 2:57am Jan 14, 2008 2:57am
Quoting gfsound
Been testing for a little over a week now, but have a question. I'm using V.2, with highest TF set to 240, yet I can't figure out why it's taking the usd/jpy trade shown attached. The 4 hour trend is clearly up, yet it entered the sell as shown. Is it because the indicator repaints, and it may have been signaling down at some point during the candle? Not sure what I'm missing. Also, are people closing trades manually or will the V2 close the trades upon highest TF color/trend change? Any help/explanation would be appreciated. Thanks!

Can you get a higher resolution? I can't see the chart.
  • #168
  • Jan 14, 2008 7:27am Jan 14, 2008 7:27am
Quoting tjsun80
Hello Allvenis,

Based on this system, we do not actually use all 6 timeframes for entried.
every entry is only based on the lower 2 timeframes.
For example,if we would like to made an entry in daily chart, we only have to look at H4 and H1(or if you prefer look at M30 as well), this would be good enough for the entries.
Ok, I have been tested even 3 TF and the only thing I see that it works perfectly when a trend is strong but when trend looks like a whipsaw this system always fails. Actually, I know that a good MM system will help to cut losses and this is the only way to trade with profits.
  • #169
  • Jan 14, 2008 8:29am Jan 14, 2008 8:29am
Quoting Ronald Raygun
Can you get a higher resolution? I can't see the chart.
Hmmm, see if this one works?
Attached Image (click to enlarge)
Click to Enlarge Name: ts_1_rev.GIF Size: 39 KB
Within apparent chaos there is order for those who know how to look
  • #170
  • Jan 14, 2008 10:34am Jan 14, 2008 10:34am
Please list all your parameters. The EA checks them in a specific order.

BaseTF first
Secondard second
Tertiary third

So, your TFs should be

240
60
30


Also keep in mind that it only checks the current bar and previous bar to determine a trend. Looking at the candles, it looks like the Slope would have been negative at the time.
  • #171
  • Jan 14, 2008 10:45am Jan 14, 2008 10:45am
Wow, ok. It looks to me like the 4HR is most certainly an up slope, but obviously I'm wrong presuming the EA logic is working. Don't get me wrong; I'm not complaining as all trades are in profit, but I want to make sure I understand the logic. My parameters are as follows:

MagicNumber=0
SignalMail=0
EachTickMode=1
Lots=0.10000000
Slippage=5
UseStopLoss=1
StopLoss=100
UseTakeProfit=0
TakeProfit=60
UseTrailingStop=0
TrailingStop=30
MAPeriod=80
BaseChart=240
SecondaryChart=60
TertiaryChart=30

Again, it still looked to me as if the slope was heading up on the above chart posted (4HR), and as you can see it continued for several more candles blue/up before turning down (red).

Lastly, will the EA exit positions upon a change in the slope? If so, which TF will it use? Or, should we have a specified TP based on Fibs, S/R, or some other methodology? So far I've just let the trades run and have not had the EA automatically close any positions, so just wondering. Thanks for your responses!
Within apparent chaos there is order for those who know how to look
  • #172
  • Jan 14, 2008 10:55am Jan 14, 2008 10:55am
Quoting gfsound
Wow, ok. It looks to me like the 4HR is most certainly an up slope, but obviously I'm wrong presuming the EA logic is working. Don't get me wrong; I'm not complaining as all trades are in profit, but I want to make sure I understand the logic. My parameters are as follows:

MagicNumber=0
SignalMail=0
EachTickMode=1
Lots=0.10000000
Slippage=5
UseStopLoss=1
StopLoss=100
UseTakeProfit=0
TakeProfit=60
UseTrailingStop=0
TrailingStop=30
MAPeriod=80
BaseChart=240
SecondaryChart=60
TertiaryChart=30

Again, it still looked to me as if the slope was heading up on the above chart posted (4HR), and as you can see it continued for several more candles blue/up before turning down (red).

Lastly, will the EA exit positions upon a change in the slope? If so, which TF will it use? Or, should we have a specified TP based on Fibs, S/R, or some other methodology? So far I've just let the trades run and have not had the EA automatically close any positions, so just wondering. Thanks for your responses!

It looks for a definite change in the BaseTF, so if the 240 min previous MA is lower than the current MA, it'll close a sell trade.

I have it running with a 150 pip Trailing stop following my trades. It's working so far, and you know me. "If it ain't broke, don't fix it."
  • #173
  • Jan 14, 2008 11:46am Jan 14, 2008 11:46am
Quoting Ronald Raygun
It looks for a definite change in the BaseTF, so if the 240 min previous MA is lower than the current MA, it'll close a sell trade.

I have it running with a 150 pip Trailing stop following my trades. It's working so far, and you know me. "If it ain't broke, don't fix it."
Absolutely. I was only wondering because I haven't had it close a trade yet. I suppose I'm confused because I'm paying too much attention to the visual of the indicator. I'll just keep testing it and KISS.

What are you using for your base TF?
Within apparent chaos there is order for those who know how to look
  • #174
  • Jan 14, 2008 2:18pm Jan 14, 2008 2:18pm
Quoting Ronald Raygun
It looks for a definite change in the BaseTF, so if the 240 min previous MA is lower than the current MA, it'll close a sell trade.

I have it running with a 150 pip Trailing stop following my trades. It's working so far, and you know me. "If it ain't broke, don't fix it."

I am Demoing it using daily-4hr-1hr with 9 interbank pair...opened great last night on 5 or 6 pair can't remember...looked quickly this morning, was up 385 (est). One trade G/U was in the neg by 30.. Was wondering about how to close these trades so thanks for that answer. I put a 50 SL on all my trades cause I wasn't sure...trailing stop built in to the EA great!!! I am not sure about how I want to handle the stop...I will let the EA run from now. I have another demo NF I am using a manual set up... I will refine with this one to meet what STOP I would like..

Ronald..thanks for the EA, I will share if I find anything worthwhile. Any reason you set it at 150 trailing stop??? It is a big enough stop for sure..

generalz
  • #175
  • Jan 14, 2008 3:06pm Jan 14, 2008 3:06pm
Quoting generalz

Ronald..thanks for the EA, I will share if I find anything worthwhile. Any reason you set it at 150 trailing stop??? It is a big enough stop for sure..

generalz

It's 3/4ths the 21 ATR, and that seems to be the average swing based on some basic ATR analysis.

Quote
What are you using for your base TF?

60min
  • #176
  • Jan 15, 2008 6:47am Jan 15, 2008 6:47am
Hello To All FF forumes,

This is my first post, ... i really like the slope system... i'm using it as my core indicator. put 3 line in 1 time frame chart. I think it suits me. Just want to know anyone using this indicator with alarm signal? I know there's been one attached a while ago. But it didn't seems to be working in my MT4. Hope anyone can help me.
Thanks in advance.
FOCUS-PATIENCE-THANKFUL
  • #177
  • Edited 6:27am Jan 16, 2008 2:55am | Edited 6:27am
The TRENDSLOPE EA has an issue, look at the chart below.... Constantly opens orders and closes them at a loss...

I guess I should try the latest EA posted now.....
Attached Image (click to enlarge)
Click to Enlarge Name: TrendSlopeEA_transaction.jpg Size: 76 KB
  • #178
  • Jan 16, 2008 8:48am Jan 16, 2008 8:48am
Quoting et_phonehome_2
The TRENDSLOPE EA has an issue, look at the chart below.... Constantly opens orders and closes them at a loss...

I guess I should try the latest EA posted now.....

That would be a good idea.

On a side note, to everyone else watching, please read through the thread. Your issues will have most likely been resolved already.
  • #179
  • Jan 16, 2008 10:35am Jan 16, 2008 10:35am
Quoting Ronald Raygun
That would be a good idea.

On a side note, to everyone else watching, please read through the thread. Your issues will have most likely been resolved already.

I have the newest version EA..It is working fine. I have only been using it for this week, so we will see about longer term results.

I cannot bring myself to let the EA close any of the trades. This is on me tho. When I see +400 pips or anything similar, I get out. I reset the EA and start again. I am not sure if this is smart or not? I would appreciate anyone who lets the EA close out their trades sharing their results.

I set up a demo using the EA and just four main pairs. The margin on 9 pair can get too big for me. This has worked well so far.

thanks Roanald!!

generalz
  • #180
  • Jan 16, 2008 12:03pm Jan 16, 2008 12:03pm
Hey generalz, I run the EA with a 150 pip trailing stop. for GBPJPY, see what works for you. It helped me capture a healthy 500pip movement over new years.
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