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Pivot Point Squeeze, high probability system

  • #681
  • Jan 28, 2008 9:26pm Jan 28, 2008 9:26pm
Quoting sundowner
Greetings,

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

Regards
Nice work. I am assuming the Bollinger Band colour changes are displaying entry and exit signals like GCTraders' IT Finance indicator. If so, I am assuming the reason some entries are triggered while the BB is contracting is due to the dynamic level that you guys are now using to trigger entries. I am still using my eyes based on an increase in bandwidth so I would have been late into many of those trades. I still mange to profit this way, but I am impressed with the accuracy of your indicator and that fact that the signals are given from the bandwidth indicator without the need of a separate indicator to advise of entry triggers
BTC Return This Year: na
  • #682
  • Jan 29, 2008 12:46am Jan 29, 2008 12:46am
Here's the template you requested...I'm hoping for some input to improve its performance.

The main indicators are from this thread, of course. I have only added the daily, weekly and monthly pivots I am attaching to this post.

Thanks for the interest in the metatrader version of GCTrader's system.

regards
Attached File(s)
File Type: tpl sundowner.tpl   10 KB | 840 downloads
File Type: mq4 DaylyPivot.mq4   5 KB | 796 downloads
File Type: mq4 MonthlyPivot.mq4   5 KB | 663 downloads
File Type: mq4 WeeklyPivot.mq4   5 KB | 761 downloads
  • #683
  • Jan 29, 2008 1:41pm Jan 29, 2008 1:41pm
Quoting ALEXISH
Happy New Year to all! I have present from Santa..

New Bband Squeeze v.5 with auto pivot target calculation (CGTrader1 strategy), pivots and midle pivots lines with backtest..

What do I need to see the waves on the chart. I do get the indicator says band_squeeze v5 on the bottom window but dont see all those waves on the chart.

Thanks in advance
  • #684
  • Jan 29, 2008 7:38pm Jan 29, 2008 7:38pm
The waves are bollinger bands which im sure you knew. They are many bollinger bands added to the main chart with a variance of 0.2 to the standard deviation. I added 12 in there myself but they are a visual representation of the squeeze. The squeeze by the way is on for the euro and the aussie although they are fake squeezes in as much as the FOMC announcement is due out later so naturally there is a squeeze. After the announcement could indicate a good entry after say 15min.

GCT
  • #685
  • Edited 10:33pm Jan 29, 2008 9:57pm | Edited 10:33pm
Hey GCTrader...first welcome back. Second, there is a pending trade on EJ is there not? It's been brewing for the better part of 22 hours. Bandwidth is finally below .0056. What do you think? I don't have a trigger yet though?
What is taking it soooo long?
Rick
  • #686
  • Jan 30, 2008 3:24am Jan 30, 2008 3:24am
Quoting Colostarr
Hey GCTrader...first welcome back. Second, there is a pending trade on EJ is there not? It's been brewing for the better part of 22 hours. Bandwidth is finally below .0056. What do you think? I don't have a trigger yet though?
What is taking it soooo long?
Rick
Thanks Colostarr,

Yes there is a squeeze but like I said earlier, it is due to the rather massive FOMC announcement which is what everyone is waiting for. Any trade signal untill then is useless. A trade can be made after the signal has been given after 15 minutes after the ann. which would give sufficient time for the market to settle down and go in the direction of fundamentals instead of irrational movements. Should be an interesting one thats for sure! I will be awake for this one...

GCT
  • #687
  • Jan 30, 2008 3:58am Jan 30, 2008 3:58am
Oh that is just awesome...no wonder it went the other way and I was stopped out a full 2 lots. Ouch...$1,000.00 gone...
Quoting GCTrader1
Thanks Colostarr,

Yes there is a squeeze but like I said earlier, it is due to the rather massive FOMC announcement which is what everyone is waiting for. Any trade signal untill then is useless. A trade can be made after the signal has been given after 15 minutes after the ann. which would give sufficient time for the market to settle down and go in the direction of fundamentals instead of irrational movements. Should be an interesting one thats for sure! I will be awake for this one...

GCT
  • #688
  • Jan 30, 2008 4:32am Jan 30, 2008 4:32am
I had to do something...dropping $1,000.00 was PAINFUL:surprised. I doubled my lots (in with 4 lots). Took 28 pips on the rebound and BAILED!! I haven't sat that close to the edge of my seat in a few months. I felt like I was rooting for my favorite team in the Super bowl. It was 4th and 10, 2 seconds left, down by 4. Hail Mary to the end zone. Thank God...it was caught...TOUCHDOWN! I can breath again. That trade had "Margin Call" written all over it. I think I will go be sick now. I did actually manage to scrape $120 profit. I am done for the day...gonna go change my shorts now. Note to self...check pending news before going large!
Rick
  • #689
  • Jan 30, 2008 5:14am Jan 30, 2008 5:14am
Quoting Colostarr
I had to do something...dropping $1,000.00 was PAINFUL:surprised. I doubled my lots (in with 4 lots). Took 28 pips on the rebound and BAILED!! I haven't sat that close to the edge of my seat in a few months. I felt like I was rooting for my favorite team in the Super bowl. It was 4th and 10, 2 seconds left, down by 4. Hail Mary to the end zone. Thank God...it was caught...TOUCHDOWN! I can breath again. That trade had "Margin Call" written all over it. I think I will go be sick now. I did actually manage to scrape $120 profit. I am done for the day...gonna go change my shorts now. Note to self...check pending news before going large!
Rick
Wow, good that you made a come back but yes always check on up and coming announcements. I'm going to say this but im sure you already know but had a lapse . You should only trade a position so that you risk only 2 - 5% of your total account. As soon as you get emotional and start to "get even" with the market, bad things happen! Take care of your account and print out your rules for trading(which should be written down) and stick it above your monitor. Time trading has taught me many lessons

Hope you trade well.

GCT
  • #690
  • Jan 30, 2008 11:35pm Jan 30, 2008 11:35pm
In the past I was known for being reckless (see BAT method). That taught me a valuable lesson. My account went from $17k to 3$ k in a matter of about 10 days. I learned a lesson there, and until this happened yesterday I have been very conservative. Slowly rebuilding my account. I just got the signal after sitting on it for 24 hours, I knew it was going to explode. I just didn't expect it to explode the other way! I use stop loss now. With the BAT method I did not use stops...and it almost drained me completely! Lesson learned....no matter how many things you experience, there is always 1 more lesson hiding around the corner. Whew....it did teach me a lesson. I haven't traded at all today. Still a bit shaken from yesterday! :surprised
Quoting GCTrader1
Wow, good that you made a come back but yes always check on up and coming announcements. I'm going to say this but im sure you already know but had a lapse . You should only trade a position so that you risk only 2 - 5% of your total account. As soon as you get emotional and start to "get even" with the market, bad things happen! Take care of your account and print out your rules for trading(which should be written down) and stick it above your monitor. Time trading has taught me many lessons

Hope you trade well.

GCT
  • #691
  • Jan 31, 2008 11:13pm Jan 31, 2008 11:13pm
Please find attached some updated indicators based on GCT's original stuff ... but please also read very thoroughly as each indicator will require parameters to be set, and perhaps re-adjusted as time goes by and the global mechanics of the market changes.

Also included here is the new Visual BB Squeeze Indicator, all pre-coded for your comfort ! ... more importantly it allows you to change the BB period for all standard deviation bands, via one simple setting change ... and this allows it to be tied into the parmater settings on the other indicators for this system.

I'd actually recommend putting the visual squeeze indicator as a separate indicator under your main price chart, rather than overlayed on it ... this allows (in MM and PRT anyway), for you to accurately see the price and PP data displayed in the value boxes (without excessive clutter), if you use that feature.

Happy trading, Johnny.
Attached File(s)
File Type: doc JK BB Visual Squeeze+Trigger+Entry Indicator CODEs.doc   36 KB | 1,147 downloads
  • #692
  • Feb 4, 2008 6:41pm Feb 4, 2008 6:41pm
Mmm, I don't seem to be able to edit my previous post, to update / replace the attachment.

Anyway a couple of minor corrections have been made (primarily to the Trade entry/exit trigger) and the updated document is attached.

The ZIP packages to assist with parameter setup is not yet available, I'll get around to that when I have further time to do so , but you can do it without that if you read carefully and think logically .

Cheers, Johnny.
Attached File(s)
File Type: doc JK BB Visual Squeeze+Trigger+Entry Indicator CODEs.doc   36 KB | 674 downloads
  • #693
  • Feb 5, 2008 6:26am Feb 5, 2008 6:26am
Johnny

Tried your programing on MM in UK coloured lines work great, Band width and trigger line work also but Sqeeze Trade entry / Exit has problems
A MACD THRESHOLD is not defined in Parameters. Previous Set to 2 in Parameters when added verifies ok. If put on GBP/USD no buys or sells show but on USD/JPY some buys and sells show using default parameters. Are there different parameters or program settings for each currency pair? Could you tell me which pair you tested your settings on then we can compare results.

Thanks for the programing

David
  • #694
  • Feb 5, 2008 11:31am Feb 5, 2008 11:31am
Has anybody noticed that the Squeeze indicator repaints itself?

Also, curious as to the results others experienced on last night's trade 2/4.

I got a sell signal by the squeeze on 1H EURJPY @ 8:00 pm EST and was stopped out for -30 at 12 am EST right before a huge drop downward soon after.

Were others watching the charts when the first sell signal came out?
  • #695
  • Feb 5, 2008 8:00pm Feb 5, 2008 8:00pm
Sundowner and all using MT4,

why don't you guys write some EA for it? Or at least an indicator that would email/alert when bands squeeze for people that have a day job?

thanks
  • #696
  • Feb 6, 2008 2:26am Feb 6, 2008 2:26am
The Euroyen was challenging last night but for some who perceviered with the system were paid such as John, nice going. Also there was a trade on the Aussie short which i entered at 9054 and had a TP of 8995 which was well and truly hit while i was sleeping, I love when that happens. What sold me on the short aussie was the double top (eve & adam) which shows a high probability of a turnaround. One look at my fav book, encyclopedia of charting patterns, revealed some great stats that sold me.

As you can see in the chart there were in fact two signals although the first one is null and void due to it being the lead up to the aussie interest rate announcement. The second one, however was after the aftermath and coincided with the double top...a killer combo! It is starting to consolidate again but has missed on making a new low. Similar story with the euroyen showing a consolidation but is most likely just continuing the downtrend along the 18EMA.

All in all, a good night!

GCT
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 26 KB
  • #697
  • Feb 6, 2008 2:28am Feb 6, 2008 2:28am
Quoting jasius
Sundowner and all using MT4,

why don't you guys write some EA for it? Or at least an indicator that would email/alert when bands squeeze for people that have a day job?

thanks
We are trying, trust me! That was the first thought that come to my mind. John and I are both in talks with the charting company, PRT, to sms when the signal has been given. Currently they do that with their indicators but not custom ones such as the squeeze. We hope to have that rectified soon.

GCT
  • #698
  • Feb 6, 2008 9:05am Feb 6, 2008 9:05am
Unfortunately I am clueless when it comes to programming.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ej1.gif Size: 38 KB
  • #699
  • Feb 6, 2008 9:35am Feb 6, 2008 9:35am
GCTrader,
How do you mean, perceveired with the system? The trade was stopped out for loss, then the squeeze indicator gave a buy signal, which was subsequently stopped out for another loss on the way back down as the squeeze indicated a second sell... I am confused.
  • #700
  • Feb 6, 2008 11:26am Feb 6, 2008 11:26am
Quoting GCTrader1
We are trying, trust me! That was the first thought that come to my mind. John and I are both in talks with the charting company, PRT, to sms when the signal has been given. Currently they do that with their indicators but not custom ones such as the squeeze. We hope to have that rectified soon.

GCT
So there is an EA in the makings that will trade automatically for MT4?
If not then I could create one.
Only problem is that I don't know what all variables in the backtest code in the word document are.
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