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4 Hour Strategy (MACD)

  • #13,521
  • Apr 8, 2008 9:24pm Apr 8, 2008 9:24pm
Quoting BIL2205
Hello everyone, just dropping in to say hello,. i am away for 2 weeks so dont have access to charts so dont know where euro and gu are, but good to see you guys making pips on gu, Nicely done Saka and Ira.

I see Saka recently you have been nailing some nice trades. In sync with the rhythm. i should be back by middle of next week. take care everyone and happy trading.
Nadia.
Thanks, Naida. For a long time, I can't grasp the spirit of this method. Ira once helped me and ask me to becktesting. It proved that this is a good way to master the rhythm of the market. Very valuable.
Plan your trades and trade your plans
  • #13,522
  • Apr 8, 2008 11:32pm Apr 8, 2008 11:32pm
Hi

Let me first thank you all. Specially the creator of the thread for this amazing thread.

I've been working through this thread for quiet some time now. And the learning will never stop...

So I thought I post my first trade today.

I traded an RB at extreme MACD Level with a very good RR

Let's see how it turns out.

Best to all...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 65 KB
  • #13,523
  • Apr 9, 2008 12:16am Apr 9, 2008 12:16am
This post concerns the indicator MACD_Colored_v104, which is a work of art in progress in my opinion. Thanks to the originator and contributor(s), its features are laudable. Some refinement along the way would make this indicator even better.

Two features ready for refinement are the histogram labeling and the macd background levels creation.

The histogram labels would be better placed on the opposite side of the study zero line from the histogram bar pattern they refer to. For example, the Rounded Top (RT) label should be below the zero line, while a Rounded Bottom (RB) label should be above the zero line. Labels should not be embedded within the histogram bars, as widening these bars obscures the labels. The ShowSignal toggles whether to start the study with lots of labels (true), or just the most recent (false). Unfortunately, using false may start the study with just the latest label, but as time progresses and new labels are added, the older labels are not removed. It would be an improvement to remove the existing label each time a new label is produced.

It has previously been mentioned that the coding of the macd background levels, improved in v104 from v103, still does not render good fits with other currency pairs, and that perhaps new coding could be introduced based on ATR information that would produce more meaningful levels for all currency pairs and timeframes.

So, histogram labeling and macd background levels are two great features I believe could be enhanced. It is beyond my present skills to do so, thus I present this as an open request to anyone who does have the necessary skills.

I previously posted the indicator MACDmetaCLS, which was MACD_Colored_v104 without histogram labels and alerts. It did, however, expand upon the macd levels, providing for a specific “fit” of levels for each timeframe from Daily down to the 1 Minute timeframe. It also added a solid zero line to the study in, contrast to the dotted macd levels lines. A subsequent request was made to put back at least the pips label at the end of the macd study. I have done that in the MACDmetaCLS file attached. Once you add it to Metatrader, look at the hard code to see how you can change it so the pips will, or will not be shown. They are shown by default in this one. I am also attaching MACD_Colored_v105. This is all of v104, plus the expanded code for the macd levels lines, the solid zero line, and a change to the displayed indicator name to also show the macd settings being used (5/13/6, 12/26/9, etc.).

In conclusion, MACDmetaCLS provides a solid zero line and allows customizing (in the hard code) your macd levels for each specific timeframe. But it is without alerts, and histogram labels. And it does show the pip count at the end of the macd study, which the previous did not. MACD_Colored_v105 is version v104 with all its alerts plus the solid zero line and customizable macd levels for each timeframe.

I leave this with an open request to those with the skills to code…..please take a look at the MACD_Colored_v104/v105 indicators and see what you can do to: (1) improve the creation of the macd background level lines as stated above, and (2) reposition histogram labels as stated above, and (3) to fix the “false” state of ShowSignal, as stated above. My thanks and the thanks of many others in advance…..
Attached File(s)
File Type: mq4 MACDmetaCLS.mq4   12 KB | 1,563 downloads
File Type: mq4 MACD_Colored_v105.mq4   20 KB | 2,213 downloads
  • #13,524
  • Apr 9, 2008 1:06am Apr 9, 2008 1:06am
Quoting traderathome
I leave this with an open request to those with the skills to code…..please take a look at the MACD_Colored_v104/v105 indicators and see what you can do to: (1) improve the creation of the macd background level lines as stated above, and (2) reposition histogram labels as stated above, and (3) to fix the “false” state of ShowSignal, as stated above. My thanks and the thanks of many others in advance…..
Great job
There are two problems about v104.
1. Sometimes it uses lots of your CPU when run it for a long time.
2. When opening a new candle, MACD pattern may not be correct. Sometimes its wrong signal before I refresh the chart. I do lose the chance of shorting EU at 19th MArch, 16:00 GMT+1(or 2) for it didn't show a BOZ at 16:00, I refresh the chart, find the BOZ signal but it was too late.

And I also want to ask you what's the MA in your MACD bars. How to use it, thanks.
Plan your trades and trade your plans
  • #13,525
  • Apr 9, 2008 1:24am Apr 9, 2008 1:24am
my trade at the middle of h1 candleafter 2 dojies in h4 and breaking of the TL
sl at BE now
( i think this trade related to market rhythm and let me know if it is confusing or not related to this system, i'll delete it)
edit:closed +20pips quickly and wait for candle close
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 16 KB
  • #13,526
  • Apr 9, 2008 1:34am Apr 9, 2008 1:34am
Quoting maxster
There might be brokers or websites that will host an EA or script but I am not sure.

What I do is I have a very reliable internet connection at home in Canada and when I travel or not at home I use www.logmein.com to remote control my home computer and initiate, set auto management of my trade. So my home trading computer is acting like my trading server in a way.
thx smn,mike and maxter
i went to the webpage and downloaded that ,how should use it now?with mobile phone?and should the phone connect to the enternet ?
  • #13,527
  • Apr 9, 2008 1:37am Apr 9, 2008 1:37am
Whatever problems exist with v104 will carry over to v105 which basically added to v104. It could be the macd histogram labels that are part of the problem. I really do not know. I had a hard enough time just going back thru the older versions trying to find a simple way to add back showing the pips at the end of the study without having to show any labels.

If you see a lot of value in having that pip count there, then try the MACDmetaCLS I attached to my last post #13524 on page 902. If the pip count display is not important, then it is better to use the simpler code of the MACDmetaCLS attached to post #13464 on page 898.

I don't see the value in the pip count display. I use the indicator attached to post #13464. I'd appreciate hearing from you how you use the pip count and why you value having that displayed.

Anyway, either one of them is simpler code than v104/v105 of MACD Colored and therefore may not gobble up your processor resources.

The signal ma line is used to identify when the macd line (histogram border line in this case) crosses the signal ma line. Such crossings are additional supporting indicators of the strength of the move. Angles are important here. Crosses with steep angles and quickly separating lines show more strength of move than shallow crossings with little angle (practically flat) and with little separation between the lines. It is a visual thing.

I use the 12/26/9 macd settings and look for crossings in conjunction with the TRIX indicator using 4/4 settings. I have found that when both the MACD and TRIX indicators have crossings at the same, or nearly same time, the results are better by far than otherwise. I have attached the trix indicator.
Attached File(s)
File Type: mq4 TRIX 4x4.mq4   3 KB | 1,307 downloads
  • #13,528
  • Apr 9, 2008 1:43am Apr 9, 2008 1:43am
Quoting bshadroo
my trade at the middle of h1 candleafter 2 dojies in h4 and breaking of the TL
sl at BE now
( i think this trade related to market rhythm and let me know if it is confusing or not related to this system, i'll delete it)
edit:closed +20pips quickly and wait for candle close
bshadroo, I still think this is not fit the rhythm of this system. EU becomes more and more flat thesedays, losing its rhythm. Just like the boy who has a rest after a long running. It can go anywhere it wants to go. In other word, has a high volatility.

I just think that rhythm needs market move. Only moving can make price has retracements or resistants. We use this case to enter trades. If market stops, we don't have any chance. Rhythm is the key to play with the market.
Plan your trades and trade your plans
  • #13,529
  • Apr 9, 2008 2:03am Apr 9, 2008 2:03am
Quoting saka
bshadroo, I still think this is not fit the rhythm of this system. EU becomes more and more flat thesedays, losing its rhythm. Just like the boy who has a rest after a long running. It can go anywhere it wants to go. In other word, has a high volatility.

I just think that rhythm needs market move. Only moving can make price has retracements or resistants. We use this case to enter trades. If market stops, we don't have any chance. Rhythm is the key to play with the market.
ok let make it more clear
look at the daily frist:its in an uptrend and making a triangle at highs ,so the daily is bullish .
then h4 it forms 2 dojies befor the big move up just near that TL and looking it wanna bounce of the 21 and 8 ,and h4 is above 89 so it is still bullish
and finally it confirms by a h1 breakout the TL and when i'm writing this ,its closed at 5738 .so h1 is bullish also
i closed my trade soon because h1 didnt closed yet at that time amd it could be dangerous but now im planning to reenter.
i appreciate ur comments again
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 25 KB
  • #13,530
  • Apr 9, 2008 2:09am Apr 9, 2008 2:09am
i entered again at 5727 sl 5697 tp 5770
  • #13,531
  • Apr 9, 2008 2:13am Apr 9, 2008 2:13am
There's no rythm in e/u. Makes it hard to trade. Let's be patient and wait until market comes to us. ( could take a bit )
  • #13,532
  • Apr 9, 2008 2:14am Apr 9, 2008 2:14am
Quoting traderathome
Whatever problems exist with v104 will carry over to v105 which basically added to v104. It could be the macd histogram labels that are part of the problem. I really do not know. I had a hard enough time just going back thru the older versions trying to find a simple way to add back showing the pips at the end of the study without having to show any labels.
That's good. Hope you can correct v104/5's problems when you have time
Plan your trades and trade your plans
  • #13,533
  • Apr 9, 2008 2:19am Apr 9, 2008 2:19am
Quoting bshadroo
my trade at the middle of h1 candleafter 2 dojies in h4 and breaking of the TL
sl at BE now
( i think this trade related to market rhythm and let me know if it is confusing or not related to this system, i'll delete it)
edit:closed +20pips quickly and wait for candle close
I think if the sl is not too much, it is worth to enter, may catch a big trend with low losing risk at this case.
Plan your trades and trade your plans
  • #13,534
  • Apr 9, 2008 3:43am Apr 9, 2008 3:43am
Quoting bshadroo
ok let make it more clear
look at the daily frist:its in an uptrend and making a triangle at highs ,so the daily is bullish .
then h4 it forms 2 dojies befor the big move up just near that TL and looking it wanna bounce of the 21 and 8 ,and h4 is above 89 so it is still bullish
and finally it confirms by a h1 breakout the TL and when i'm writing this ,its closed at 5738 .so h1 is bullish also
i closed my trade soon because h1 didnt closed yet at that time amd it could be dangerous but now im planning to reenter.
i appreciate ur comments again
Hello bshadroo,

I'm suspecting we may get a wide sideways range for a while as indicated by the 89 going flat. Similar to the sideways trend in January/February before the 89 sloped up and broke out to the upside. Whether it breaks up above 1.60, or breaks down to the 200 I'm not sure. You are certainly right though, daily still showing bullish tendencies above all the MA's, and currently resting on the 8EMA. May be showing signs of weakness as well, as the bottom trendline on the daily is being tested. And lower highs on the top forming a triangle.

Regards,
Nipper
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_89_flat_1B.GIF Size: 28 KB
  • #13,535
  • Apr 9, 2008 4:06am Apr 9, 2008 4:06am
I actually preferred the GBP/USD CT trade this morning. Price formed a RB on the 4H in very over sold area (way below the 45 on MACD). It also did this off the bottom price channel line and after a doji and several small candles along that line.

On the 1H it broke through the 8 and I used this as my signal to get in. I have now taken 50% profit at 9700 as it stalled here on the 1H and I am moving the rest to BE.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
  • #13,536
  • Apr 9, 2008 5:06am Apr 9, 2008 5:06am
Quoting brettboz
I actually preferred the GBP/USD CT trade this morning. Price formed a RB on the 4H in very over sold area (way below the 45 on MACD). It also did this off the bottom price channel line and after a doji and several small candles along that line.

On the 1H it broke through the 8 and I used this as my signal to get in. I have now taken 50% profit at 9700 as it stalled here on the 1H and I am moving the rest to BE.
On further hourly failure to break 9700 I have closed all but 15% of the original trade.
  • #13,537
  • Apr 9, 2008 5:25am Apr 9, 2008 5:25am
I am taking this as an SHS-MACD in the 4h AUDUSD and go short
Attached Image (click to enlarge)
Click to Enlarge Name: ,mn.jpg Size: 120 KB
  • #13,538
  • Edited 8:07am Apr 9, 2008 6:51am | Edited 8:07am
now H4 supports my trade with a TC signal after price missed my stoploss with only 1pip
edit:closed +30pips
Attached Image (click to enlarge)
Click to Enlarge Name: eur2.gif Size: 16 KB
  • #13,539
  • Apr 9, 2008 7:05am Apr 9, 2008 7:05am
I went long U/j after this TC.
First Tp upper Res.
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Click to Enlarge Name: gj.gif Size: 23 KB
Failure, is a wonderful teacher!
  • #13,540
  • Apr 9, 2008 7:58am Apr 9, 2008 7:58am
If your broker doesn't support server sided orders for trailing stops and EA's nothing you do after you shutoff your computer will help. Your broker is the one that HAS TO SUPPORT the stop moving on THEIR server.
So if it's that important to you, you might have to switch to a broker that has server side support for that issue. Contact your broker to make sure they either do or don't.

Or just leave your computer on at night.

KC

Quoting bshadroo
thx for that.does it work when the computer is off or when u dissconected ?
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