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Attachments: X50 - M5 trend following
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X50 - M5 trend following

  • #21
  • Jan 17, 2008 9:29pm Jan 17, 2008 9:29pm
Quoting magnumfreak
Or just restart metatrader. .

Interesting system. Thanks for sharing.
i did close and re-open my mt4 but no luck,anyone knows?
  • #22
  • Jan 17, 2008 9:40pm Jan 17, 2008 9:40pm
Quoting fxking
i did close and re-open my mt4 but no luck,anyone knows?
I noticed that if I have a large number of files in my indicator folder, sometimes mt4 doesn't recognize all of them. I cleaned mine out today (just moved the least used ones to another folder in case I need them again) and the performance is much better.
  • #23
  • Jan 17, 2008 10:11pm Jan 17, 2008 10:11pm
Quoting magnumfreak
I noticed that if I have a large number of files in my indicator folder, sometimes mt4 doesn't recognize all of them. I cleaned mine out today (just moved the least used ones to another folder in case I need them again) and the performance is much better.
thanks!
  • #24
  • Jan 18, 2008 12:16am Jan 18, 2008 12:16am
Does the rythm indicator also need to be in agreement with the other 3 indicators in order for it to be a valid signal? Example, right now on the E/J the stoch, MACD, and absolute are giving a short signal but the rythm is reading Rythm=1 Weak Bull. What do you do in that circumstance?
  • #25
  • Jan 18, 2008 12:33am Jan 18, 2008 12:33am
Quote
What do you do in that circumstance?
If that wasn't a valid signal it still wasn't too shabby. A little over 30 pips in less than 15 minutes!
  • #26
  • Jan 18, 2008 3:07am Jan 18, 2008 3:07am
See post #4. We're trying to catch a trend. The indicator is a measure of the strength of the trend re price and a number of moving averages. You could ignore this indicator and ou'll be fine with the signals. When it's weak, I'm a bit weary.
Cheers,
CanuckCT


Quoting psymantis
Does the rythm indicator also need to be in agreement with the other 3 indicators in order for it to be a valid signal? Example, right now on the E/J the stoch, MACD, and absolute are giving a short signal but the rythm is reading Rythm=1 Weak Bull. What do you do in that circumstance?
  • #27
  • Jan 18, 2008 3:10am Jan 18, 2008 3:10am
You may want to ignore the other timeframes as I have this template setup for a different view on H1, H4 and daily that have nothing to do with the M5 entry.
Cheers,
CanuckCT
Quoting fxking
thanks for sharing your system CanuckCT,i do have problem trying to load up the 'absolute strength' indicator in the chart(i did download the indicator fr your post).Is it normal that i will see different indicators under different timeframes? thanks
  • #28
  • Jan 18, 2008 3:23am Jan 18, 2008 3:23am
Thanks for the reply. One more question. Just wandering what broker/data feed are you using? I have an NF demo and use another broker to place my trades and after looking at your screenshots it looks like your chart data very closely matches my brokers. So maybe I'll switch since the NF data is much different from my brokers.
  • #29
  • Jan 18, 2008 3:57am Jan 18, 2008 3:57am
I've added this indicator to the first post. Sorry about that.
Cheers,
CanuckCT

Quoting tim4kaye
You need the file called MACD H4 300 V100 on the following message:


http://www.forexfactory.com/showpost...&postcount=817


I had the same problem


T4K
  • #30
  • Jan 18, 2008 4:08am Jan 18, 2008 4:08am
I use Oanda for orders and I use Metatrader demo from http://www.metaquotes.net/ for charts. I'll usually try to put the order in on the demo if I plan to post the shot. The actual order for the AUDUSD trade was with Oanda and I had already exited before I took that screenshot. I also have an InterbankFX account that I'm not really using as it only has a few dollars in it. Charts can be quite different from broker to broker.
Cheers
CanuckCT

Quoting psymantis
Thanks for the reply. One more question. Just wandering what broker/data feed are you using? I have an NF demo and use another broker to place my trades and after looking at your screenshots it looks like your chart data very closely matches my brokers. So maybe I'll switch since the NF data is much different from my brokers.
  • #31
  • Jan 18, 2008 4:17am Jan 18, 2008 4:17am
Firstly, I'd really like to congratulate can CanuckCT for such a wonderful method. A bit of a deviation from original spud's methods, but hey, if the foundation is strong, why not build bigger and better on it.


Quoting psymantis
Does the rythm indicator also need to be in agreement with the other 3 indicators in order for it to be a valid signal? Example, right now on the E/J the stoch, MACD, and absolute are giving a short signal but the rythm is reading Rythm=1 Weak Bull. What do you do in that circumstance?
With regards to the above quote, it would actually be beneficial for you(and everyone) to know what critieria constitutes what condition, ie strong/weak bull/bear market. If you go to the 4H thread by philip nel, and look for the poster, Palmer, he has a website signature. Go to the tools one, and there is an explaination of how the indicator works. Briefly, it basically looks at the closing price of the candle in relation to certian moving averages. Hence, it can show one signal on the 5M chart, and another on the 15M chart, and maybe even a total opposite on the 1H chart.

Just thought I'd throw this out there for everyone looking at indicators!!

Regards,
K.
  • #32
  • Jan 18, 2008 4:18am Jan 18, 2008 4:18am
Thank you very much. I'll check it out.
  • #33
  • Jan 18, 2008 4:41am Jan 18, 2008 4:41am
Hello kermut,

Thanks for the kind words and the link for Palmer post. You can tell by the code on the indicator what moving averages it looks at. Will check it out.

Two things...I thing new traders (I include myself in that group as I am relatively new to Forex) should read all the spud material as it's a great introduction to trading and will help you to get your feet wet. Second I think that MACD thread is also very good.

In regards to spud's methods, the 5-3-3 and 14-3-3 stochs are from his approach and I always felt they were good indicators for entry but not for exit. Also, for me I needed some other type of confirmation to support that I was getting into a trend that would last for at least a few candles rather then reverse right away. Just stochastics often gets you in, you suffer a retracement, exit, and then see the trade move in your direction without you. That was my experience. So this method waits a bit longer than the initial stoch entry and you have better confidence that the trade will go your way. If it doesn't almost immediately, exit and wait for the next signal.

Cheers
CanuckCT

Quoting kermut
Firstly, I'd really like to congratulate can CanuckCT for such a wonderful method. A bit of a deviation from original spud's methods, but hey, if the foundation is strong, why not build bigger and better on it.




With regards to the above quote, it would actually be beneficial for you(and everyone) to know what critieria constitutes what condition, ie strong/weak bull/bear market. If you go to the 4H thread by philip nel, and look for the poster, Palmer, he has a website signature. Go to the tools one, and there is an explaination of how the indicator works. Briefly, it basically looks at the closing price of the candle in relation to certian moving averages. Hence, it can show one signal on the 5M chart, and another on the 15M chart, and maybe even a total opposite on the 1H chart.

Just thought I'd throw this out there for everyone looking at indicators!!

Regards,
K.
  • #34
  • Jan 18, 2008 8:24am Jan 18, 2008 8:24am
I have 2 charts to review...the first is I trade I took on GJ, entry rules met and price had touched the pivot twice. Closed for +30. I should have stayed as 14-3-3 stoch never really went above 20 for more than a minute or so...an indication of a retrace.

The second is a chart for EU. I did not take any of these trades, but I see 3 as follows. First is a buy and target would have been the pivot. The second is either another buy after the retrace and close over the pivot. Re-entry like this seems to be a better move. MACD was already above zero and stochs and AS indicate a buy. The third EU trade is a sell, target would have been pivot. If you had stayed you would have done a lot better. Each trade would have netted you a minimum of 10 to 15 pips with little heat. I just wish my job wasn't getting in the way to trade more often.

I have a chfjpy trade in the works. Will post next.

Cheers,
CanuckCT
Attached Images
  • #35
  • Jan 18, 2008 8:28am Jan 18, 2008 8:28am
Was up +10 on this trade and didn't take profits. Closed for -3. 14-3-3 stoch moved above 20, following the 5-3-3.
Cheers
CanuckCT
Attached Image
  • #36
  • Jan 18, 2008 8:40am Jan 18, 2008 8:40am
Quoting CanuckCT
I have 2 charts to review...the first is I trade I took on GJ, entry rules met and price had touched the pivot twice. Closed for +30. I should have stayed as 14-3-3 stoch never really went above 20 for more than a minute or so...an indication of a retrace.

The second is a chart for EU. I did not take any of these trades, but I see 3 as follows. First is a buy and target would have been the pivot. The second is either another buy after the retrace and close over the pivot. Re-entry like this seems to be a better move. MACD was already above zero and stochs and AS indicate a buy. The third EU trade is a sell, target would have been pivot. If you had stayed you would have done a lot better. Each trade would have netted you a minimum of 10 to 15 pips with little heat. I just wish my job wasn't getting in the way to trade more often.

I have a chfjpy trade in the works. Will post next.

Cheers,
CanuckCT
Question:
On the EUR/USD trade, the entrance requirements were met two bars before you indicate with the vertical line.
Why would you have waited?
Thanks
  • #37
  • Edited 12:54pm Jan 18, 2008 12:15pm | Edited 12:54pm
Bill,
You are right and you could have entered at that point. I would have waited to see the AS indicator cross and start to move up, in the direction of the trade. At the first bar, the AS indicator would have just crossed and a bar or two later would start to move in the direction of the trade. The more conservative entry is to wait, the more aggressive entry is to enter on the first bar. Same issue with the GJ trade. I'm a bar late on the entry according to the strict rules in post #1. I'm looking for a trend to show and sometimes a delay of a bar will help with that.
Cheers,
CanuckCT

Quoting billbss
Question:
On the EUR/USD trade, the entrance requirements were met two bars before you indicate with the vertical line.
Why would you have waited?
Thanks
  • #38
  • Jan 18, 2008 12:48pm Jan 18, 2008 12:48pm
Hi Everyone,

A few of us had been chatting and trading together in a room. We didn't get a lot of traction in the room, but I still think the idea was a good one. Since everyone trades at different time, it's often difficult to meetup with someone. So I offer the room up to anyone who would like to drop by and trade this method. I keep strange trading hours...sometime early morning or late evening...maybe an hour during the day. Hope to see some of you there.

Getting into the trading room is as follows:

!. Go to http://ensign.editme.com/chat and click on the download link, just under INSTALLATION.

2. Download and save the setupchat.exe file and follow the setup instructions at the ensign site. It's easier than it looks, and you will be setup completely in less than five minutes!

4. Login to our room #56 - x50 Password is x50

Look forward to seeing you there!

Cheers
CanuckCT
  • #39
  • Jan 18, 2008 1:06pm Jan 18, 2008 1:06pm
Hi Canuck,

I'll be there Monday morning.

I enjoyed trading in the room with you and some of the other guys; hopefully we'll have more attendance now with the introduction of your X50 method, and the room will be active more hours during the day!

Have a great weekend!



Quoting CanuckCT
Hi Everyone,

A few of us had been chatting and trading together in a room. We didn't get a lot of traction in the room, but I still think the idea was a good one. Since everyone trades at different time, it's often difficult to meetup with someone. So I offer the room up to anyone who would like to drop by and trade this method. I keep strange trading hours...sometime early morning or late evening...maybe an hour during the day. Hope to see some of you there.

Getting into the trading room is as follows:

!. Go to http://ensign.editme.com/chat and click on the download link, just under INSTALLATION.

2. Download and save the setupchat.exe file and follow the setup instructions at the ensign site. It's easier than it looks, and you will be setup completely in less than five minutes!

4. Login to our room #56 - x50 Password is x50

Look forward to seeing you there!

Cheers
CanuckCT
Jeff Singer, K2KV
  • #40
  • Jan 18, 2008 1:07pm Jan 18, 2008 1:07pm
That's great trading. Perhaps you could post a few screen shots of your entries. 30 to 40 pips on GJ is a nice target on one trade. Glad to hear it's working for you also. Have you looked at any other pairs?
Cheers,
CanuckCT

Quoting awesome792
Thank you for posting this system. Since you posted I have made 3 trade the first to profitable of +84 pips together. The first trade was +40 and second +44. I have a short trade open at this time and it's about to hit it's target of 209.60 GBP/JPY.

Thanks again!
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