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GBP/JPY for QQE Traders!

  • #561
  • Jan 24, 2008 1:06pm Jan 24, 2008 1:06pm
Quoting Michi
I have a question regarding the QQE indicator: 30mn ago when I looked at my GY chart, a blue dot appeared under the curve, at 210.30. It came out from nowhere since these dots are supposed to appear when one of the QQE indicators crosses up, and nothing crossed up at this time in the QQEs. It turns out the current price is 210.80 and I could have entered the trade since all the other indicator were bullish (just the QQEs that were upper the 50 level and above the slow QQE for QQE60 for hours now) . But I just figured the dot disappeared: how come?!
What am I supposed to understand from these kind of dots that pop up from "nowhere"?
Does someone know what these dots are, when they are not related with QQEs ?
The dots come from your "QQE Alert" system. It should be set for a smoothing factor of 60 to let you know that the QQE60 has crossed. You might want to check the properties on that, just to confirm it's set to 60.
  • #562
  • Edited 2:22pm Jan 24, 2008 1:09pm | Edited 2:22pm
Longs seem to be looking good today, with bullish QQE's from the 15min through the 4H. I'll be expecting 211.80 and 212.64.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr_today.jpg Size: 115 KB
  • #563
  • Jan 24, 2008 1:19pm Jan 24, 2008 1:19pm
Hey Pips Cruiser,

I already checked, I know the meaning of these dots... but 1 hr ago: the QQE60 didn't cross up (it was at 11:30am GMT, so 8hrs ago). I got a dot 1 hr ago that erased by itself... I acknowledge it sounds weird, but maybe there is an explanation for that?
I am looking at the GY M15 on MT4, so you can check on your graph, it didn't cross up 1 hr ago.
My question is the following: should I consider this "popped up" dot, i.e. if QQEs crossed 8 hours ago and this kind of dot appears on my graph: do I enter the trade ?
It sounds crazy: as if I saw a ghost... but trust me, I'm not crazy!

So ?
  • #564
  • Jan 24, 2008 1:50pm Jan 24, 2008 1:50pm
Quoting Michi
Hey Pips Cruiser,

I already checked, I know the meaning of these dots... but 1 hr ago: the QQE60 didn't cross up (it was at 11:30am GMT, so 8hrs ago). I got a dot 1 hr ago that erased by itself... I acknowledge it sounds weird, but maybe there is an explanation for that?
I am looking at the GY M15 on MT4, so you can check on your graph, it didn't cross up 1 hr ago.
My question is the following: should I consider this "popped up" dot, i.e. if QQEs crossed 8 hours ago and this kind of dot appears on my graph: do I enter the trade ?
It sounds crazy: as if I saw a ghost... but trust me, I'm not crazy!

So ?
Okay, thanks for mentioning that you were looking at the M15, and that you're using MT4. I was starting to wonder about both.

To make a long story short, no, what you saw is not itself a signal to "buy". And I'm sure you're not crazy.

Exactly what was going on, I'm not sure. I use VT, and dots appear and then disappear on "unconfirmed candles". If the candle closes while the dot is there, it stays. If the candle closes while it's not, it stays off and the same thing starts happening with the next candle. But it only does this when it starts to (or finally does) cross the opposite direction. It doesn't repeat the same type of cross signal later.

This might possibly be an indicator bug. You could try uninstalling it and installing again with the version on Auslanco's website (download section). If it was a bug, it may have been fixed by now.

http://www.pnwenterprises.com/auslanco/

  • #565
  • Jan 24, 2008 2:08pm Jan 24, 2008 2:08pm
Quoting dogbreath
hehehe...nah...if anything I probably have them wrong

I am on IBFX for a broker....they are on GMT.

I am using 2 indicators....the one Auslanco suggested I believe is the "pivot Points" one....which has an option to set the session start time.

The other is called FiboPiv_v1.mq4....which seems to do things automatically.

I would prefer to use the automatic one if possible.....but I am not sure if it is giving the same reading as the auslanco one.

Just to confirm...if my broker(IBFX) is on gmt...then for the london session my "day start hour" setting should be set to 0 ....right?

Therefore "day start hour" should be set to:
LONDON=0
USA=14
ASIA=23

Is that correct?
Thanks. Maybe this will help some other MT4 users with pivot setups.
  • #566
  • Jan 24, 2008 2:45pm Jan 24, 2008 2:45pm
Ok thanks pips cruiser, as usual you give me relevant explanations !

Another thing: Auslanco's system works well when the market is trending and not ranging.
I don't know how you check that: just by looking at your graph I believe. But I am using another indicator to confirm this trending market: the ADX indicator.
I implemented it to Aus's system to check whether G.Y. is currently trending or ranging:
A figure above 25 (>25) meaning the market is trending, while a figure below 20 (<20) meaning a ranging market.
It is also important to look where the curve is pointing: up or down, to have further details on the possibility for the currency pair to turn back or to keep being trending/ranging.
I look at ADX on the M15 in order to confirm whether I enter a trade on my M15 graph.

Does one of you use this too, or something else? Any criticism to add?
  • #567
  • Jan 24, 2008 2:46pm Jan 24, 2008 2:46pm
Hi PC
i still have problem with my PP
do u know how we calculate daily pavit point
like we start calculation from trading day hours like for newyork (08.00am)
or we start from a regular day start for the session like (00.00am)
one more thing ...when we will change setting just before the session start?
and what about when we overlap tokeyo and london session ....which pp we consider.
please give me a detail answer ..........i'll appretiate

and please help me out for the setting
what is ur pp for newyork session?

thanks
  • #568
  • Jan 24, 2008 3:11pm Jan 24, 2008 3:11pm
PP is calculated as follows:
PP= (high+low+close)/3
So when considering the NY PP: we look at the high, low and close of the previous trading session in NYC. The PP is recalculated at the beginning of the session.
Then you can do it for Tokyo and London when they open.
When there is a new market opening, you change the PP.

Do you understand?
  • #569
  • Jan 24, 2008 3:23pm Jan 24, 2008 3:23pm
Quoting makemerich
Hi PC
i still have problem with my PP
do u know how we calculate daily pavit point
like we start calculation from trading day hours like for newyork (08.00am)
or we start from a regular day start for the session like (00.00am)
one more thing ...when we will change setting just before the session start?
and what about when we overlap tokeyo and london session ....which pp we consider.
please give me a detail answer ..........i'll appretiate

and please help me out for the setting
what is ur pp for newyork session?

thanks
My PP for the NY session on GY is: 207.93.
When London opens and overlaps Tokyo: you change the PP to the one of the London session.
For the settings: if you're in MT4: you just follow the link of Auslanco's website, you download its PP indicator. Then in MT4: you right click on the chart, click on "Indicators List" > Pivot Point > Edit > Inputs > 2x click on "daily start hour" by default "0" and just change the number by the time you want the PP to be recalculated: for GMT, 0 for Tokyo, 8 for London, 13 for NYC. Hours are written under the european's system, from 0 to 24.
Cheers
  • #570
  • Jan 24, 2008 3:25pm Jan 24, 2008 3:25pm
Quoting makemerich
Hi PC
i still have problem with my PP
do u know how we calculate daily pavit point
like we start calculation from trading day hours like for newyork (08.00am)
or we start from a regular day start for the session like (00.00am)
one more thing ...when we will change setting just before the session start?
and what about when we overlap tokeyo and london session ....which pp we consider.
please give me a detail answer ..........i'll appretiate

and please help me out for the setting
what is ur pp for newyork session?

thanks
Michi did a good job of explaining what the daily pivot point calculation is. It looks at a 24 hour period of time, and comes up with an "average" of sorts. For our purposes we want the 24 hours "leading up to" the session we are in. So near the beginning of the session we set a new pivot, for a fresh look at the most current 24 hour period.

Asian 1900EST or 2400GMT
London & early US 0300EST or 0800GMT
US (after London close at 1100est) 0800EST or 1300GMT
  • #571
  • Jan 24, 2008 3:36pm Jan 24, 2008 3:36pm
Quoting Michi
My PP for the NY session on GY is: 207.93.
When London opens and overlaps Tokyo: you change the PP to the one of the London session.
For the settings: if you're in MT4: you just follow the link of Auslanco's website, you download its PP indicator. Then in MT4: you right click on the chart, click on "Indicators List" > Pivot Point > Edit > Inputs > 2x click on "daily start hour" by default "0" and just change the number by the time you want the PP to be recalculated: for GMT, 0 for Tokyo, 8 for London, 13 for NYC. Hours are written under the european's system, from 0 to 24.
Cheers
Thanks! I know we always use EST times for VT Trader setups. Hopefully we always use GMT times for MT4, since that adds some consistency to the platform. It's also something I should be able to remember for "next time".

  • #572
  • Jan 24, 2008 3:41pm Jan 24, 2008 3:41pm
HI Michi
first of all thank u very much for ur help
i put a 13 for NYC and my PP is 207.80 is that ok ?
or i did something wrong
thanks again
  • #573
  • Jan 24, 2008 3:43pm Jan 24, 2008 3:43pm
Quoting Pips_Cruiser
Longs seem to be looking good today, with bullish QQE's from the 15min through the 4H. I'll be expecting 211.80 and 212.64.
211.80 has been hit. Next target is 212.64. Watch for possible retraces, and trade carefully.
  • #574
  • Jan 24, 2008 4:02pm Jan 24, 2008 4:02pm
Quoting makemerich
HI Michi
first of all thank u very much for ur help
i put a 13 for NYC and my PP is 207.80 is that ok ?
or i did something wrong
thanks again
Pivots points almost always vary a little, depending on broker data. I suspect you have things right now.
  • #575
  • Jan 24, 2008 4:13pm Jan 24, 2008 4:13pm
Quoting Michi
Ok thanks pips cruiser, as usual you give me relevant explanations !

Another thing: Auslanco's system works well when the market is trending and not ranging.
I don't know how you check that: just by looking at your graph I believe. But I am using another indicator to confirm this trending market: the ADX indicator.
I implemented it to Aus's system to check whether G.Y. is currently trending or ranging:
A figure above 25 (>25) meaning the market is trending, while a figure below 20 (<20) meaning a ranging market.
It is also important to look where the curve is pointing: up or down, to have further details on the possibility for the currency pair to turn back or to keep being trending/ranging.
I look at ADX on the M15 in order to confirm whether I enter a trade on my M15 graph.

Does one of you use this too, or something else? Any criticism to add?
Any commentary about the ADX indicator?
  • #576
  • Jan 24, 2008 4:15pm Jan 24, 2008 4:15pm
Hi PC
thanks for the help
but i'll match again for tokyo and london session just for conformation
  • #577
  • Jan 24, 2008 5:46pm Jan 24, 2008 5:46pm
quick question ladies and gents, how do I calculate at what price exactly initiated the qqe alert? Im doing some tweaking on a new system that seems to work well just need to calculate this so I can back test manually
  • #578
  • Jan 24, 2008 6:23pm Jan 24, 2008 6:23pm
Quoting bullish84
quick question ladies and gents, how do I calculate at what price exactly initiated the qqe alert? Im doing some tweaking on a new system that seems to work well just need to calculate this so I can back test manually
Calculating it?
I guess you cannot... there is no direct relationship between the QQE and the price. It's not because the QQE5 is at 52 or the QQE60 crosses up that the price of the G.Y. is determined. QQE60 can cross up at different level, no matter what the price is.

In my pt of view, you cannot calculate it.
  • #579
  • Jan 24, 2008 6:40pm Jan 24, 2008 6:40pm
Quoting bullish84
quick question ladies and gents, how do I calculate at what price exactly initiated the qqe alert? Im doing some tweaking on a new system that seems to work well just need to calculate this so I can back test manually
I'd say the close price of the 15M bar that generated the alert is about as close as you can get, short of sitting there and watching the screen. But another idea might be to build a custom QQE that makes a record of exactly what the price is when it crosses.
  • #580
  • Jan 24, 2008 6:44pm Jan 24, 2008 6:44pm
Quoting Pips_Cruiser
211.80 has been hit. Next target is 212.64. Watch for possible retraces, and trade carefully.
Good call there Pips....any idea what the indicator on MT4 we should be using for the fib calculations like the ones that are showing on your chart?
Life's a bitch....so be a dog and cover it!
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