Thanks Squash and Loki...typo fixed!
DislikedHmmm...for shorter timeframes you do have more losers...hi TA, just a lingering question, have u considered using 55ema curve filter to saw out probable losing trades for the smaller timeframes?Ignored
DislikedNote: you have changed SHORT to LONG, but there is also another error - the stop loss will be 10 pips under the LOW in this case, not 10 pips above the HIGHIgnored
DislikedWell I have to say so far the results have been phenomenal. I just finished manually backtesting Jan 2006 and the results are a net of 606 pips!!!!! I did however count the two lot trades as twice the pips, i.e. if you made 50 pips trading the two lots I counted it as 100 pips to make counting things up easier.
I'm still working on backtesting up through the current date, so I can't tell if January is just a freakishly good month or not, but Team Aphid is correct when they say this system takes pips from both trending and ranging markets. I think it is the first system that I have ever seen that can make that claim.
KEEP UP THE GOOD WORK TEAM APHID!Ignored
DislikedActually we have different results and both months were positive.Ignored
DislikedHi Team Aphid, Just a ramble...this tid bit is probably old news to you but i've found it is nice to have the price in my FiboRetracement tool's description, you might too?
The addition of the following will show price on any line on the tool:
what you are adding is the %(percent)$(dollar) symbols on the line.
so the description will read:
.....or whatever the zero line on the fibo tool is set at. Then add that code to any fibo description that you are entering a unit or taking profits for easy trade station order management.
DislikedHi all, since i was in a doodlin mood and read in the PDF file the suggestion to set up MT4 "Alarms" i did a quick hack on a simple horizontal line audio alert that you can download from my server in this directory:
The BAT_Red_Alert.mq4 and it's sound file red-bat-alert.wav should be placed at the red bat line and then do the same for the for the "Blue_Alert" %& "blue-bat" pair.
You will place the .wav files into the MT4's "sounds" directory. When you first place the indicators on a chart the line will show up at the current price, just sellect it and drag it to the corresponding colored "Bat Line" and you are good to go!
: ) ThomIgnored
DislikedWould you guys be willing to post your trades (just numbers would work fine) for one of the two months? I need to figure out what I'm doing wrong.
I followed the system to the letter as I understand it from the PDF, with no discretionary trades or additional filters. Granted picking the top/bottom for the Fibo lines can be subjective but I can't see them making that huge of a deal.Ignored
DislikedI have a silly sort of question that has to do with the color scheme. Now what i'm rambling on below has nothing to do with tweaking the model in any way, it is only a color/visual que on the existing lines.
I can imagine, though never using an ATR indicator, that the upper "red" line was originaly intended as some sort of Stop and Reverse line of sorts? and vice versa for the lower blue line. But reading through the PDF file that is not the case in this model which is fine.
It took two reads to "get it". What was throwing me off mentaly was the visual Que of the Red line which historicaly ment to me that the color red was a "Bearish" signal, and a blue one was "Bullish".
Just wondering if switching the colors would make easier sense to newbies that might be looking at "Blue" candles as "Bulls" and "Red" as "Bears" which is very typical of a trade station setup these days... the sky is blue they say (unless you live in Oregon like i do and i just have to guess it's blue above the cloud cover!).
It makes perfect visual sense to me to "Go Long" when a "Sky is Blue" line is breached going up... and to "Go Short" when a "Earth is Red" line is breached going down.
I know, my wife says i'm waaaaaay to much of a detail kinda guy. But at least i don't line all the labels up in the cupboard and she is still sleeping with me after 2 dozen years. grin.
: ) ThomIgnored
DislikedOf course, you can switch colours. But when we see the red line on chart, we understand that bears are in control and vice versa. If you look at it from signal point of view, then you are right.Ignored
Thanks very much! To confirm what I understand from the document: Price merely needs to break through the opposite Bat line for the current trade to be stopped out, correct? i.e. we do not need to wait for the current candle/bar to close. If not, how does the indicator handle price retraces back across a bat line (and what should the trader's corresponding actions be)?