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Pivot Point Squeeze, high probability system

  • #661
  • Jan 22, 2008 1:51am Jan 22, 2008 1:51am
Hi Longpath,

Have a look at the following document. It has code that you copy and paste that should get you started. It is the BB squeeze with John having made some mods. It should work with CMC. Let me know if it doesn't...

GCT
Attached File(s)
File Type: doc JK BB Squeeze CODE1.doc   28 KB | 614 downloads
  • #662
  • Jan 22, 2008 4:03pm Jan 22, 2008 4:03pm
Hi GCTrader1,

thanks for the reply. I tried to apply the instructions, but I really did not understand any of the steps I was taking, or if I was even doing any of it correctly.

It may take some person who is not a programmer to post a document of screenshots of the CMC chart set up from a complete 100% beginners perspective of using the IT Finance charts.

I have attached some screenshots of my attempt.

thanks to anyone who can help... in advance!
Attached File(s)
File Type: doc Longpath Screenshots of JK BB Squeeze CODE1.doc   146 KB | 804 downloads
  • #663
  • Jan 22, 2008 10:17pm Jan 22, 2008 10:17pm
Quoting LongPath
Hi GCTrader1,

thanks for the reply. I tried to apply the instructions, but I really did not understand any of the steps I was taking, or if I was even doing any of it correctly.

It may take some person who is not a programmer to post a document of screenshots of the CMC chart set up from a complete 100% beginners perspective of using the IT Finance charts.

I have attached some screenshots of my attempt.

thanks to anyone who can help... in advance!
If you look back over this thread, I have already done 2 story book style steup instructions. I dont know what page it is but they are there somewhere.

GCT
  • #664
  • Jan 23, 2008 3:25am Jan 23, 2008 3:25am
For the first section ... you'll need to add 2 more user INDICATOR PARAMETERS, in the same fashion you entered the first couple. These should be BBP and sample (Name Used In Program).

The default value can be BBP=18 and Sample 38 ... although good results have been found using 17 and 46 respectively.

In the 2nd section, it seems a coupld of parameter names havebeen changed ... change the parameter with a name used in program of period, to sample instead, and like before add another parameter called BBP (with a default value of 18 or 17).

These extra parameters were added to allow greater optimisiations and thus greater profit due to the increased flexibility.

You can use GCT's screenshot doc too to help you, but don't get confused by the few changes made in this later code which I'd added to. GCT's doc is an excellent guide to get the hang of how to add these indicators into CMC etc.
  • #665
  • Jan 23, 2008 7:10am Jan 23, 2008 7:10am
Did anyone catch any of these? I just got in but a little late... First signal for the Euroyen in a week!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 27 KB
Click to Enlarge Name: Spot FX AUD_USD (-).png Size: 25 KB
  • #666
  • Jan 23, 2008 7:16am Jan 23, 2008 7:16am
Spot Gold just signaled a short although the candle has not closed yet, just bringing it to your attention. It could turn around but it definitely is showing a nice squeeze in volatility...

GCT
Attached Image (click to enlarge)
Click to Enlarge Name: Spot Gold (mini) (-).png Size: 21 KB
  • #667
  • Jan 23, 2008 9:10am Jan 23, 2008 9:10am
Quoting GCTrader1
Did anyone catch any of these? I just got in but a little late... First signal for the Euroyen in a week!
I pulled 80 pips from that move with Johnnyforex looking on. He had the signal an hour and 60 pips earlier than I did with his optimised code ( he wasnt trading though). Still 80 pips the old fashioned eyeball way isnt too bad + I was in another systems trading room at the time and called the trade. they all got pips but cut out after 20 pips or so - they think Im a legend and want me to do all the calls from now on. I think ill quit while Im ahead - lol
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  • #668
  • Jan 23, 2008 11:43pm Jan 23, 2008 11:43pm
Quoting M.A.C.Doug
I pulled 80 pips from that move with Johnnyforex looking on. He had the signal an hour and 60 pips earlier than I did with his optimised code ( he wasnt trading though). Still 80 pips the old fashioned eyeball way isnt too bad + I was in another systems trading room at the time and called the trade. they all got pips but cut out after 20 pips or so - they think Im a legend and want me to do all the calls from now on. I think ill quit while Im ahead - lol
Well done MacDoug ... be careful while you are up!!
  • #669
  • Jan 24, 2008 6:25am Jan 24, 2008 6:25am
Hi GC

Tried your code and Johnny Forex info on CMC Marketmaker still cannot get squeeze to work just get a line at 0 no signals. Still must be doing something wrong can I send or post anything to help?

Divad
  • #670
  • Jan 24, 2008 10:29am Jan 24, 2008 10:29am
Quote
Hi GC

Tried your code and Johnny Forex info on CMC Marketmaker still cannot get squeeze to work just get a line at 0 no signals. Still must be doing something wrong can I send or post anything to help?

Hi divad
I share your pain, I am a friend of johnnies and the only way I'll ever get it to work is by taking my pc over and getting him to do it for me. Very frustrating - enough to make you turn MT4

Quote
Well done MacDoug ... be careful while you are up!!

Hi tenshi - yes I know, I gave half of that back pretty damn quick - fortunately I have now recovered those losses to finish where I left of yesterday
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  • #671
  • Jan 24, 2008 11:26am Jan 24, 2008 11:26am
Thanks Johnny, I got something showing now. I will look back in the posts and see how to get that pretty rainbow Bollinger onto the chart to visually show squeeze

...and thanks GCTrader, I will review the posts again for other info...


Quoting JohnnyFOREX
For the first section ... you'll need to add 2 more user INDICATOR PARAMETERS, in the same fashion you entered the first couple. These should be BBP and sample (Name Used In Program).

The default value can be BBP=18 and Sample 38 ... although good results have been found using 17 and 46 respectively.

In the 2nd section, it seems a coupld of parameter names havebeen changed ... change the parameter with a name used in program of period, to sample instead, and like before add another parameter called BBP (with a default value of 18 or 17).

These extra parameters were added to allow greater optimisiations and thus greater profit due to the increased flexibility.

You can use GCT's screenshot doc too to help you, but don't get confused by the few changes made in this later code which I'd added to. GCT's doc is an excellent guide to get the hang of how to add these indicators into CMC etc.
  • #672
  • Jan 24, 2008 1:13pm Jan 24, 2008 1:13pm
Hi GC & Johnny Forex

Got it displaying looked back at posts and changed all MACD * numbers to 10000 as per Johnny forex. I have read the story books but unclear on actual trading practice are pivot points the targets? How does the trigger line work on Bandwidth, What is the exit strategy How are stops placed? etc is there a trading document that I have missed. Also do the settings change per pair?

Has anyone tested it on smaller timeframes say 15min?

Thanks for your help I like bollinger systems and trying to keep more price based.

Divad
  • #673
  • Jan 24, 2008 2:30pm Jan 24, 2008 2:30pm
Quoting divad
Hi GC & Johnny Forex

Got it displaying looked back at posts and changed all MACD * numbers to 10000 as per Johnny forex. I have read the story books but unclear on actual trading practice are pivot points the targets? How does the trigger line work on Bandwidth, What is the exit strategy How are stops placed? etc is there a trading document that I have missed. Also do the settings change per pair?

Has anyone tested it on smaller timeframes say 15min?

Thanks for your help I like bollinger systems and trying to keep more price based.

Divad
Hi Divad,

Ok, here we go! Pivot points are a powerful tool in the traders toolbox which is why I chose to use them. On break of a pivot point associated with a squeeze, its game on. The squeeze indicator should indicate which direction to trade in but pretty much trade in the direction of the break. I use PP as profit targets. A good position sizing model that can be used for this strategy is to buy in multiples of 3(3, 6, 9 mini lots).

1st TP - The S1 or R1 depending on direction. Once this is reached exit 1/3 of your position and move your stops up to entry.

2nd TP - The S2 or R2. Once this is reached, exit another 1/3 of your original position and move stops up to R/S1.

3rd TP - This is called a discretionary stop. Use daily charts or any other indicator of your choice to decide this one. You have already locked in plenty of profit so this can be left for a few days if desired to really take advantage of those big rallies.

Setting do change for pairs and the sample period for the squeeze and trigger buffer is revised regularly(every few weeks or so). The trigger line on the BBW is there to visually show you where the trigger is in relation to the BBW so you can be ready.

Hope this helps Divad, trade well!

GCT
  • #674
  • Jan 24, 2008 5:47pm Jan 24, 2008 5:47pm
Quoting LongPath
I will look back in the posts and see how to get that pretty rainbow Bollinger onto the chart to visually show squeeze
I'm actually going to program the visual rainbow BB squeeze as a custom indicator, because now with my optimisations of GCT's initial default parameters, the BB period is going to periodically change - for example right now a BB period of 17 is more profitable than 18.

Seeing as you'd have around 36 instances of manually having to change the period from 18 to 17 (or some other number as the months go by), then changing it just once in an indicator is alot more attractive .

Cheers, Johnny.

P.S. GCT - You haven't already done this as an indicator have you???
  • #675
  • Jan 24, 2008 6:47pm Jan 24, 2008 6:47pm
Quoting JohnnyFOREX
I'm actually going to program the visual rainbow BB squeeze as a custom indicator, because now with my optimisations of GCT's initial default parameters, the BB period is going to periodically change - for example right now a BB period of 17 is more profitable than 18.

Seeing as you'd have around 36 instances of manually having to change the period from 18 to 17 (or some other number as the months go by), then changing it just once in an indicator is alot more attractive .

Cheers, Johnny.

P.S. GCT - You haven't already done this as an indicator have you???
No I havent made a custom indicator for that, good idea! Remember to make it pretty tho!

I hope everyone is doing well in this volatile time. MACDoug, sounds like your doing well. Your account can fall over very quickly in this market atm, crazy times!


GCT
  • #676
  • Jan 24, 2008 7:14pm Jan 24, 2008 7:14pm
Quoting GCTrader1
No I havent made a custom indicator for that, good idea! Remember to make it pretty tho!

I hope everyone is doing well in this volatile time. MACDoug, sounds like your doing well. Your account can fall over very quickly in this market atm, crazy times!


GCT
yes , it is crazy times and I had my share of pain caught out long last week. I have only now recovered with a sequence of short trades during the latest unwind. Have a look at how clear the reversal signals have been on JPY crosses and equities daily and 4 hour charts after the fed cut - hammers, railroad tracks, bullish engulfing patterns galore - crazy times are good times to stay alert for opportunities like this
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  • #677
  • Jan 24, 2008 9:06pm Jan 24, 2008 9:06pm
Greetings,

Anyone using metatrader? I thought I'd post this chart and see what you think. All comments welcome.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ej1.gif Size: 64 KB
  • #678
  • Jan 25, 2008 6:58pm Jan 25, 2008 6:58pm
Yep GCT, I'm using your default set of rainbow colours - it'll look very pretty .

By the way, you all may notice with GCT's indicator some trades which are genuine entries have not shown up on the indicator signalling an entry ... we've had a chat about that it's a small bug which I'm in the throws of correcting at the moment. It will also affect the backtest results and maybe the parameters too, as more trades will now be signalled (if the extras are winners then things are good ... if the extras are losers well, that's not so good - it's probably swings and roundabouts though) .

Cheers, Johnny.
  • #679
  • Jan 28, 2008 3:02pm Jan 28, 2008 3:02pm
Looks good Sun-Care to post your template?

Quoting sundowner
Greetings,

Anyone using metatrader? I thought I'd post this chart and see what you think. All comments welcome.

Regards
  • #680
  • Jan 28, 2008 4:49pm Jan 28, 2008 4:49pm
I agree, nice work there suncare. How are adjustments made? Say if the trigger buffer needs adjusting? Just curious as I haven't used MT4 before. Did anyone see the trade last night? I live in the wrong timezone! I miss so many nice trades because of damn sleep! lol. Here is the chart of it...
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 26 KB
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