13 low 13 high MA 1 hr chart System | Forex Factory

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Attachments: 13 low 13 high MA 1 hr chart System
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13 low 13 high MA 1 hr chart System

  • #1
  • First Post: Edited Feb 2, 2008 1:10pm Jan 16, 2008 11:05am | Edited Feb 2, 2008 1:10pm
I am editing the Original Post to make room for the Improved Version of this system. I was having issues with the 1 hr method because......although it can be profitable, it can also be risky. Like everything else in life, we all want the best. To get the best, we must try to improve whatever it is we are striving for. In saying that, I stayed up til the wee hours of the morning, and figured out that it may be better to use a 5 minute chart with this method, along with a "No Channel Required to cross", just as long as the new candle is beyond the 3MAs. I hope I do not upset anyone who has put in alot of work with the EAs. Thank you for your hard work.

Hey, if this system can be improved, why not. And anyone out there with any ideas, please share. Lets improve this thing to its maximum potentail.

New method starts at Message #88

All EAs before this message are for the 1 Hour method.



Below the line is the Original Post

-----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL POST:

http://www.forexfactory.com/attachme...1&d=1200507422

I am posting the system in hopes that I might find a programmer for it. This system may be in these Forums already, if so, please let me know. I would love to exchange ideas. Many thanks to Nicotina, the creator of another system that has shown me a way to trade this system.


GBPJPY 1 HOUR CHART.

Use Candlesticks

2 Moving Averages (Same Color)
13 Simple MA (High)
13 Simple MA (Low)

1 Moving Average (Different Color)
100 Exponential (Close)

I will post a picture for the entry point. The Exit is 100/100.

100pips TP (Take Profit)
100pips SL (Stop Loss)

I am currently back-testing for 2007. I will post my results as soon as I have it. I have only tried it on the GBPJPY because of its volatility.
Attached Image
  • #2
  • Jan 16, 2008 11:27am Jan 16, 2008 11:27am
..looks neat. What constitutes an entry?....open and close of candle beyond the MA?
  • #3
  • Jan 16, 2008 11:30am Jan 16, 2008 11:30am
Quoting ChowClown
..looks neat. What constitutes an entry?....open and close of candle beyond the MA?
Yes. As soon as the candle closes outside the 2 13MA lines.
  • #4
  • Jan 16, 2008 11:31am Jan 16, 2008 11:31am
Yes, I am also interested here... Please explain why and when you enter and exit.

Good Luck with this system
  • #5
  • Jan 16, 2008 11:34am Jan 16, 2008 11:34am
Quoting WHTenn
Yes, I am also interested here... Please explain why and when you enter and exit.

Good Luck with this system

Not sure what explaination you are looking for. Just know that the 100MA is the momentum signal. Entry point is when the last candle closes beyond the 13MAs yellow lines.

Exit: Take profit of 100 pips / Stop loss is 100 pips
  • #6
  • Edited 12:18pm Jan 16, 2008 11:39am | Edited 12:18pm
Quoting jr2007
Not sure what explaination you are looking for. Just know that the 100MA is the momentum signal. Entry point is when the last candle closes beyond the 13MAs yellow lines.

Exit: Take profit of 100 pips / Stop loss is 100 pips
The last candle? Do you mean the first candle that closes below the 13 SMA lines?

JR2007, do you agree with entry points?
Attached Image (click to enlarge)
Click to Enlarge Name: 13ma.png Size: 37 KB
  • #7
  • Jan 16, 2008 11:41am Jan 16, 2008 11:41am
Quoting WHTenn
The last candle? Do you mean the first candle that closes below the 13 EMA lines?
yes
  • #8
  • Jan 16, 2008 11:41am Jan 16, 2008 11:41am
Quoting jr2007
Yes. As soon as the candle closes outside the 2 13MA lines.

Thanks, good luck with the testing - will be interesting to see how it performs during ranging periods.
  • #9
  • Jan 16, 2008 11:42am Jan 16, 2008 11:42am
Sorry men, but for me, this system give so much bad signal..
  • #10
  • Jan 16, 2008 11:52am Jan 16, 2008 11:52am
Quoting maksi86
Sorry men, but for me, this system give so much bad signal..
I posted today's chart with the indicators, timeframe and currency pair listed and it seems to work. This chart proves your statement as incorrect.

I just can't grasp why new traders come to postings, state they do not work and fail to explain why then disappear.
  • #11
  • Jan 16, 2008 12:05pm Jan 16, 2008 12:05pm
Quoting WHTenn
The last candle? Do you mean the first candle that closes below the 13 SMA lines?

JR2007, do you agree with entry points?

Sorry, I meant the next candle. It is more of a conviction for its direction.
  • #12
  • Jan 16, 2008 12:20pm Jan 16, 2008 12:20pm
Quoting jr2007
Sorry, I meant the next candle. It is more of a conviction for its direction.
JR2007, I changed the pic of chart on post 6, see if this is what you describe as the next candle after the close of the first below the 13 ma.

Thanks
  • #13
  • Jan 16, 2008 12:22pm Jan 16, 2008 12:22pm
Quoting WHTenn
JR2007, I changed the pic of chart on post 6, see if this is what you describe as the next candle after the close of the first below the 13 ma.

Thanks
Yes, exactly. If you notice on my picture, I took a different approach on long candles. Only the long candles when they close long.
  • #14
  • Jan 16, 2008 12:23pm Jan 16, 2008 12:23pm
Is this correct...

Entry is based on candle close

Candle close < 13 SMA LOW & 100 EMA = SHORT
Candle close > 13 SMA HIGH & 100 EMA = LONG

Take profit = 100 pips
Stop loss = 100 pips

If you have an exisiting trade still open, would you add another trade if all the critera is met or do you have only 1 trade open at a time that would need to be closed before the next trade can be placed? Does the price need to close in channel for re-entry in the same direction?

Thanks for sharing.
  • #15
  • Jan 16, 2008 12:28pm Jan 16, 2008 12:28pm
Quoting lcfxtrader
Is this correct...

Entry is based on candle close

Candle close < 13 SMA LOW & 100 EMA = SHORT
Candle close > 13 SMA HIGH & 100 EMA = LONG

Take profit = 100 pips
Stop loss = 100 pips

If you have an exisiting trade still open, would you add another trade if all the critera is met or do you have only 1 trade open at a time that would need to be closed before the next trade can be placed?


Thanks for sharing.

Good question. I never ran into that situation. But then I never looked into that situation, also maybe because I stick to one trade. Hey if one trade can bring me 100 pips for the day, I'm happy. On the Long, or Short, do not forget about the 100EMA. This is your Long/Short Signal.

Just remember, the criteria for an exit is: 100pip take profit / 100pip stop loss
  • #16
  • Jan 16, 2008 12:36pm Jan 16, 2008 12:36pm
Good Post JR2007

Thanks for answering my questions
  • #17
  • Jan 16, 2008 12:37pm Jan 16, 2008 12:37pm
Quoting WHTenn
Good Post JR2007

Thanks for answering my questions
Your Welcome.
  • #18
  • Jan 16, 2008 12:43pm Jan 16, 2008 12:43pm
Quoting WHTenn
I posted today's chart with the indicators, timeframe and currency pair listed and it seems to work. This chart proves your statement as incorrect.

I just can't grasp why new traders come to postings, state they do not work and fail to explain why then disappear.
I think see bad signal in 1-4,8,9,11.. but i can be wrong of course
  • #19
  • Jan 16, 2008 12:45pm Jan 16, 2008 12:45pm
Quoting maksi86
I think see bad signal in 1-4,8,9,11.. but i can be wrong of course
1-4,8,9,11.. ????
I do not understand. What are these numbers?
  • #20
  • Jan 16, 2008 12:46pm Jan 16, 2008 12:46pm
Quoting maksi86
I think see bad signal in 1-4,8,9,11.. but i can be wrong of course
Can you be more specific?

Read Jr2007's specific trading instructions. Your the only one that apparently disagrees and you do not stipulate why. This is not fair to the poster.

I have absolutely no idea what those numbers mean? Can't be your arrows, you only have 10 and he states the number 11.
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