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Attachments: The Only Pivot
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The Only Pivot

  • #21
  • Feb 17, 2008 7:42am Feb 17, 2008 7:42am
Quoting Pirabuji
Hello,

Can you please explain entry and exit rules in more detail, I don't follow.

Thanks
You can find many explanations and chart examples at TSD forum. One of the best systems to come along in a long time....
  • #22
  • Feb 17, 2008 7:56am Feb 17, 2008 7:56am
The rules of the system is quite simple.

Entries

  1. Buy when the GREEN arrow appears
  2. Sell when the RED arrow appears
  3. When you go into the Asian Session the following day, and there is no cross, that is, it moves sideways, you can enter based upon the last arrow [see the chart below].

Exits

  1. exit current position when you get an opposite signal
  2. S/R
  3. Fibs
  4. Trailing Stop
  5. etc.

You can easily grab 25 to 100 PIPs just on one lot contract

As with all systems, be wary of news time coming up
Do not chase a missed entry using this system

One thing I have noticed. If you open the charts for the first time, close MT4, and re-open it again. I had found the chart display with the indicators to be incorrect....

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_1H.jpg Size: 96 KB
  • #23
  • Feb 17, 2008 8:25am Feb 17, 2008 8:25am
Quoting tony_dtrader
.........
Works very well on pairs like GBPUSD, EURJPY, GBPJPY
...............
Enjoy!
MR T
Hi,
Have ever tried on others pairs?? Or, only those 3 pairs you trade with this method?

Thanks for sharing
  • #24
  • Feb 17, 2008 8:43am Feb 17, 2008 8:43am
The system was originally designed for the GBPJPY, but you can try using on other pairs. Just attach the indicators to you favorite pair and scroll back in time to see if you like what you see.

I have personally used it on the EURJPY and GBPJPY though the EUR and GBP are somewhat correlated to each other. I used to use it on GBPUSD, but found you can catch more PIPs with EURJPY and the spread for GBPUSD and EURJPY was the same on my platform. With the EURJPY, you can actually see where price was heading towards while GBPUSD was at times too erractic.

I found that the key to this system is being disciplined to stick with the rules [as true of any other system you want to use].
  • #25
  • Feb 17, 2008 9:28am Feb 17, 2008 9:28am
Quoting et_phonehome_2
...................
One thing I have noticed. If you open the charts for the first time, close MT4, and re-open it again. I had found the chart display with the indicators to be incorrect....
Hi Et,
I had copied the .tpl & indicators, offline - OK, but when I connect to the internet/server, It crashed.
I tried to reopen, coz it closed automatically, still didn't work.
Then I restarted my laptop, reopen MT4, still didn't work.
What should I do? Any suggestions?

Thanks
  • #26
  • Feb 17, 2008 10:01am Feb 17, 2008 10:01am
hi everyone.. meet again

remember this system is designed to run at broker with time server GMT 00

INTERBANKFX and ODL are GMT 00


i ussualy open with 3 ORDER

1 order tp is 50 pip

2 order tp is 100 pip

3 order tp Out when we got opposite signal


when 1st TP is reached, i put SL to BEP+1 for the others


disicpline-moneymanagement-not greedy... is the key

Forex is complicated... do not try to be complicated...
simple is beautiful
Simplicity your Life
  • #27
  • Feb 17, 2008 10:08am Feb 17, 2008 10:08am
Stevenali

Nice to see you here. I have used this system to trade throughout an entire session, it still works like a charm. When trading through an entire session, just one have to be careful of very long candles since there's always possible retracement.

Thanks for such a great system..... Still like the Holy Grail to me....

ET
  • #28
  • Feb 17, 2008 10:17am Feb 17, 2008 10:17am
Quoting aguskrw1
Hi Et,
I had copied the .tpl & indicators, offline - OK, but when I connect to the internet/server, It crashed.
I tried to reopen, coz it closed automatically, still didn't work.
Then I restarted my laptop, reopen MT4, still didn't work.
What should I do? Any suggestions?

Thanks
I haven't been keeping up with all these new indicators being posted by all, I'm still using whatever was posted by TimeFreedom at TSD forum a few weeks back. You may want to try updating your MT4 platform. I've been using this system ever since Stevenali posted it awhile back, it works great. Most of the new indicators posted is really to adjust for the different GMT times of different brokers....

If the profile you are opening has other indicators other than for The Only Pivot system then it may be one of those indicators causing the crash. I never had problems with these posted crashing my system or anything similar to it.

I had situations whereby indicators from other systems work for a long time, and then have finally isolated the culprit. I do not know why all of sudden it happen so I just got rid of those indicators. It was not fun trying to find out the culprit since it was a hit and miss type of thing.... It required one going to the profile offline, and started to clean up things..... You may want to rename the profile to another name so that at least you can open MT4 and try it on a new chart with no other existing charts or indicators.
  • #29
  • Feb 17, 2008 10:29am Feb 17, 2008 10:29am
Quoting et_phonehome_2
The rules of the system is quite simple.

Entries

  1. Buy when the GREEN arrow appears
  2. Sell when the RED arrow appears
  3. When you go into the Asian Session the following day, and there is no cross, that is, it moves sideways, you can enter based upon the last arrow [see the chart below].

Exits

  1. exit current position when you get an opposite signal
  2. S/R
  3. Fibs
  4. Trailing Stop
  5. etc.

You can easily grab 25 to 100 PIPs just on one lot contract

As with all systems, be wary of news time coming up
Do not chase a missed entry using this system

One thing I have noticed. If you open the charts for the first time, close MT4, and re-open it again. I had found the chart display with the indicators to be incorrect....

Thank you for the explanation.
What stop loss do you use for this system?
How often this system generate the false signal?
What time zone you suggest for this system.

Thanks and happy trading.
  • #30
  • Feb 17, 2008 10:46am Feb 17, 2008 10:46am
[quote=tony_dtrader;1854565]The rule is using h1

1. if 2 SMMA WEIGHTED CLOSE CROSS UP the DAY OPEN LINE open LONG
at new candle

2. if 2 SMMA WEIGHTED CLOSE CROSS DOWN the DAY OPEN LINE open SHORT
at new candle


Hello,

Can someone please explain the entry rules? What is the Momentum indicator for?

The above doesn't made any sense to me :s
  • #31
  • Feb 17, 2008 10:51am Feb 17, 2008 10:51am
Quoting smartfx
Thank you for the explanation.
What stop loss do you use for this system?
How often this system generate the false signal?
What time zone you suggest for this system.

Thanks and happy trading.
You should use a SL you can live with, I do not specify a SL only because I have noticed that my broker hunts down the SL. All I can suggest you setup a SL where you won't get stopped out so easily since GBPJPY is very volatile. You can try a 50 PIP SL, sorry I can't help you with that. You may want to try using TimeFreedom's MTP EA, its what I used .

The false signals are very small for the times I have been using this system. During the times I have used this system, I had seen where I had gotten a short, and a long not too many candles later for only 24 PIPs. To me that is a false signal since it was short lived trade. There are some who have used QQE and Braintrend to confirm the direction.... There are times I had entered a trade where it goes against me [not meaning I got another arrow to change positions], and to my thinking I better get out as soon as I am in the green, but only to see it go in the correct direction again. The key is discipline.....

You can use the timezone Stevenali had suggested, but I have used it for all sessions with no problems. I just trade on the GREEN / RED arrows.
  • #32
  • Feb 17, 2008 10:52am Feb 17, 2008 10:52am
Hi Et,

Please can you post the indicators you use?

Also what signs do you look for to enter manually, besides waiting for arrows to appear?

Thanks,

Quoting et_phonehome_2
The rules of the system is quite simple.

Entries

  1. Buy when the GREEN arrow appears
  2. Sell when the RED arrow appears
  3. When you go into the Asian Session the following day, and there is no cross, that is, it moves sideways, you can enter based upon the last arrow [see the chart below].

Exits

  1. exit current position when you get an opposite signal
  2. S/R
  3. Fibs
  4. Trailing Stop
  5. etc.

You can easily grab 25 to 100 PIPs just on one lot contract

As with all systems, be wary of news time coming up
Do not chase a missed entry using this system

One thing I have noticed. If you open the charts for the first time, close MT4, and re-open it again. I had found the chart display with the indicators to be incorrect....

  • #33
  • Feb 17, 2008 10:53am Feb 17, 2008 10:53am
[quote=Pirabuji;1855504]
Quoting tony_dtrader
The rule is using h1

1. if 2 SMMA WEIGHTED CLOSE CROSS UP the DAY OPEN LINE open LONG
at new candle

2. if 2 SMMA WEIGHTED CLOSE CROSS DOWN the DAY OPEN LINE open SHORT
at new candle


Hello,

Can someone please explain the entry rules? What is the Momentum indicator for?

The above doesn't made any sense to me :s
There is no need for the Momentum indicator, its just to confirm the strength of the move. It was actually something in the original Stevenali rules, but since had been removed. You can use whatever indicators you want for confirmation as some have used QQE and Braintrend.
  • #34
  • Feb 17, 2008 12:29pm Feb 17, 2008 12:29pm
Quoting stevenali
hi everyone.. meet again

remember this system is designed to run at broker with time server GMT 00

INTERBANKFX and ODL are GMT 00


i ussualy open with 3 ORDER

1 order tp is 50 pip

2 order tp is 100 pip

3 order tp Out when we got opposite signal


when 1st TP is reached, i put SL to BEP+1 for the others


disicpline-moneymanagement-not greedy... is the key

Forex is complicated... do not try to be complicated...
simple is beautiful


I didint know your this idea hehehe.....splendid idea!
prepare for worst & expect the best
  • #35
  • Feb 17, 2008 12:43pm Feb 17, 2008 12:43pm
ET , would you mind sharing the EA ,would like to run it and compare it next to manual trading.
Thanks.
  • #36
  • Feb 17, 2008 3:06pm Feb 17, 2008 3:06pm
Hi,

I'm unable to open zip files, so I was wondering if anyone would be so kind as to post the indicators used for this system and their template, I would greatly appreciate it.

My understanding is that you're using a 2 period smoothed moving average with weighted close to cross up or down the 00:00 GMT daily pivot on 1Hr chart. Entry is based on opening of new candle after the candle that caused the cross to close. Is this correct?

It's been said to enter after the green or red arrow appears. Is there an indicator that you use that creates those arrows?

Thanks in advance for everyone's help, I certainly appreciate it!!....T-Wolf
  • #37
  • Feb 17, 2008 3:19pm Feb 17, 2008 3:19pm
Quoting thunderwolf
Hi,

I'm unable to open zip files, so I was wondering if anyone would be so kind as to post the indicators used for this system and their template, I would greatly appreciate it.

My understanding is that you're using a 2 period smoothed moving average with weighted close to cross up or down the 00:00 GMT daily pivot on 1Hr chart. Entry is based on opening of new candle after the candle that caused the cross to close. Is this correct?

It's been said to enter after the green or red arrow appears. Is there an indicator that you use that creates those arrows?

Thanks in advance for everyone's help, I certainly appreciate it!!....T-Wolf

Here are the files you need.
Attached File(s)
File Type: tpl win.tpl   12 KB | 916 downloads
File Type: mq4 PivotCustom_4TimeFrames.mq4   45 KB | 986 downloads
File Type: mq4 PrevDayAndFloatingPivot_O.mq4   4 KB | 977 downloads
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #38
  • Feb 17, 2008 3:19pm Feb 17, 2008 3:19pm
Thunderwolf , go to post 19 , you can get the two indicators from there .
  • #39
  • Feb 17, 2008 3:21pm Feb 17, 2008 3:21pm
download these indicators(.mq4) to your "\experts\indicators" directory
and "win.tpl" file to "\templates" directory and restart metatrader.
Attached File(s)
File Type: mq4 PrevDayAndFloatingPivot_O.mq4   4 KB | 936 downloads
File Type: mq4 PivotCustom_4TimeFrames.mq4   45 KB | 892 downloads
File Type: mq4 TheOnlyPivot_Signal_Sun.mq4   5 KB | 2,084 downloads
File Type: tpl win.tpl   12 KB | 935 downloads
P.S. Think "positive(+)"
  • #40
  • Feb 17, 2008 3:21pm Feb 17, 2008 3:21pm
Hi Guys
I am unable to open zip files too and wondered if anyone can upload a ea to just insert into mt4
respect
Tom(uk)
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