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Eagle_Eye

  • #1
  • First Post: Edited 7:10pm Mar 4, 2008 6:04pm | Edited 7:10pm
Hello,
I have been working on this system. It is very simple. Looking back at the charts manually it seems profitable. I am sharing it here hoping that it can be improved and an EA can be coded for it. I cant always stay in front of the screen due to my job, so I really could do with an EA. I welcome your constructive criticism.

System:
Buy Conditions:

1) price is above 50sma, 100sma, 200sma.
2) 50sma is above 100sma, and 100sma is above 200 sma.
3) When a downward trendline is broken, see Chart. The downward trendline is constructed by the 2 recent red circles. The line should just touch the circle.
4) Open with 1 lot with sl at the most recent blue circle (purple line on chart)
5) TP is at least the sl or you can just trail the sl with the blue circles.

The sell conditions are opposite.

Only tried it on 1hour+ time frame.

Regards,
Ali
  • #2
  • Mar 4, 2008 6:11pm Mar 4, 2008 6:11pm
Here's the indicator, template and example. Trade it on demo, and please post your results.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Capture Professional 1.2 73.JPG Size: 458 KB
Attached File(s)
File Type: mq4 DeMark lines.mq4   17 KB | 916 downloads
File Type: tpl eagle_eye.tpl   2 KB | 741 downloads
  • #3
  • Mar 4, 2008 9:04pm Mar 4, 2008 9:04pm
Thanks for the post. testing it now
  • #4
  • Mar 5, 2008 11:44am Mar 5, 2008 11:44am
tp was hit on eur/usd, the other one still open
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screen Capture Professional 1.2 75.JPG Size: 447 KB
  • #5
  • Mar 5, 2008 7:30pm Mar 5, 2008 7:30pm
Hi eagle eye thanks for sharing
looks promising, i like the indicator, but it seems like it doesnt save any trendlines or fibs when you have this ind loaded.
as soon as you change time frames they dissapear.
do you know if there is any way around this.
again thanks for sharing
Nick
Nick
  • #6
  • Mar 6, 2008 4:22am Mar 6, 2008 4:22am
Hi Ali thanks for sharing the wonderful system! i'll be testing it for sure! although i already have a 5 EMA based trading system i sure can accomdate these SMA's to confirm my entries...should work as a perfect filter...thanks a lot once again!

God bless you
regards,
Ghous
I believe . . .
  • #7
  • Mar 6, 2008 5:07am Mar 6, 2008 5:07am
hi ghous, could you tell me how your EMA5 works?, i am interesting in it too ?
Quoting ghous
Hi Ali thanks for sharing the wonderful system! i'll be testing it for sure! although i already have a 5 EMA based trading system i sure can accomdate these SMA's to confirm my entries...should work as a perfect filter...thanks a lot once again!

God bless you
regards,
Ghous
  • #8
  • Mar 6, 2008 5:53am Mar 6, 2008 5:53am
Quoting sflanwr
hi ghous, could you tell me how your EMA5 works?, i am interesting in it too ?
hmm i think i should have termed it differently... the name of the system is actually the cornflower system, many of the ppl here already know of it, it was quite popular on FF forums a few months back, it's gone in the background now, but the results have been wonderful for me! i am still using it for the past three months, and i am starting to get the feel of it! i is based on 4 ema's actually, the 72, 24, 12, and the 8 EMA...and that's all....i personally use the 365 EMA as well, but that's not part of the system, just 4 ema's and you are on your way to some great pippin....just search in the trading system section of the forum with "cornflower hourly system" read through and you'll know what's it abt....

anyways, just longed Au after a nice agreement of Ali's SMA's and my system...fingers crossed...

regards,
Ghous
I believe . . .
  • #9
  • Mar 6, 2008 11:17am Mar 6, 2008 11:17am
This looks like a very good method.
I played with it this morning.
There were entries on the GBP/USD and the USD/CHF. They're both in profit 60 or 80 pips.
I'm in for 10 cents a pip- Hey, that's lunch...LOL
  • #10
  • Mar 6, 2008 12:05pm Mar 6, 2008 12:05pm
Quoting billbss
This looks like a very good method.
I played with it this morning.
There were entries on the GBP/USD and the USD/CHF. They're both in profit 60 or 80 pips.
I'm in for 10 cents a pip- Hey, that's lunch...LOL
KFC has a deal going, 10pcs. for $8.99.....Enjoy lunch
  • #11
  • Mar 6, 2008 12:10pm Mar 6, 2008 12:10pm
Quoting thunderwolf
KFC has a deal going, 10pcs. for $8.99.....Enjoy lunch
Hey that is a good deal.
I've been paying over $20 for a 16 piece bucket- nope, I don't eat 'em all. I have help :-)

If it wasn't freezing rain here, I'd go get those 10 pieces.
  • #12
  • Mar 6, 2008 1:16pm Mar 6, 2008 1:16pm
Quoting billbss
This looks like a very good method.
I played with it this morning.
There were entries on the GBP/USD and the USD/CHF. They're both in profit 60 or 80 pips.
I'm in for 10 cents a pip- Hey, that's lunch...LOL
Yeah, it gives some nice trades. Majority are successful. There was another on EURAUD, more than 100 pips profit, see chart. Would be nice if someone made an EA for it.
Attached Image (click to enlarge)
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  • #13
  • Mar 6, 2008 1:18pm Mar 6, 2008 1:18pm
Quoting 555ngone
Hi eagle eye thanks for sharing
looks promising, i like the indicator, but it seems like it doesnt save any trendlines or fibs when you have this ind loaded.
as soon as you change time frames they dissapear.
do you know if there is any way around this.
again thanks for sharing
Nick

I have that problem too, the trendlines keep disappearing. Hope someone can help.
  • #14
  • Mar 6, 2008 1:19pm Mar 6, 2008 1:19pm
Quoting eagle_eye
Yeah, it gives some nice trades. Majority are successful. There was another on EURAUD, more than 100 pips profit, see chart. Would be nice if someone made an EA for it.
Look at the AUD/USD and see if it looks like a short coming soon.
  • #15
  • Mar 6, 2008 1:22pm Mar 6, 2008 1:22pm
Quoting billbss
Look at the AUD/USD and see if it looks like a short coming soon.
Yes, it looks like a short is coming.
  • #16
  • Mar 6, 2008 1:24pm Mar 6, 2008 1:24pm
see attached chart
Attached Image (click to enlarge)
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  • #17
  • Mar 6, 2008 1:27pm Mar 6, 2008 1:27pm
Quoting eagle_eye
see attached chart
That's what I see.
The MAs look a little flaky for a downtrend, but they meet the criteria.
  • #18
  • Mar 6, 2008 1:40pm Mar 6, 2008 1:40pm
I notice that the indicator has an alert on it.
Is it a trendline break alert?
Does it make a sound?
Thanks

BTW- Thank you for sharing the system. It really looks good.
  • #19
  • Mar 6, 2008 2:29pm Mar 6, 2008 2:29pm
Quoting billbss
I notice that the indicator has an alert on it.
Is it a trendline break alert?
Does it make a sound?
Thanks

BTW- Thank you for sharing the system. It really looks good.
To be honest I don't know if the trendlines drawn by the indicator are the same as the ones I draw manually and so I don't use the alerts. I just use the circles and draw my own trendlines.
I'm glad you find the system useful. Hopefully we can improve it. My problem is I miss the trades because I cant access the internet when I want to at work. Thats why I'm hoping someone can code it into an EA.

regards
  • #20
  • Mar 6, 2008 2:36pm Mar 6, 2008 2:36pm
Quoting eagle_eye
To be honest I don't know if the trendlines drawn by the indicator are the same as the ones I draw manually and so I don't use the alerts. I just use the circles and draw my own trendlines.
I'm glad you find the system useful. Hopefully we can improve it. My problem is I miss the trades because I cant access the internet when I want to at work. Thats why I'm hoping someone can code it into an EA.

regards
I'm letting the indicator draw them. It seems to be doing it correctly.

I'm not a programmer, but I don't think it would be a difficult EA to make. I've seen EAs that react to trendline breaks on much more elaborate systems than this one.
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