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4 Hour Strategy (MACD)

  • #13,701
  • Apr 16, 2008 7:29am Apr 16, 2008 7:29am
Quoting mike1349
in my chart E/u look like bounce off 21 !!
CAN YOU POST THE INDICATOR:MACD COLOURED AND LABELLED
  • #13,702
  • Apr 16, 2008 7:58am Apr 16, 2008 7:58am
[quote=bshadroo;1954140]u can go the first page of m5 thread and find the related page and post.but i dont see phillip uses this in h4 system ,i see that only in m5 .

thank you
  • #13,703
  • Apr 16, 2008 9:57am Apr 16, 2008 9:57am
Quoting B@by trader
CAN YOU POST THE INDICATOR:MACD COLOURED AND LABELLED
here is the MACD_Colored_v103
Attached File(s)
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 505 downloads
  • #13,704
  • Apr 16, 2008 10:34am Apr 16, 2008 10:34am
Info
Attached File(s)
File Type: pdf Trades for April2008.pdf   197 KB | 1,232 downloads
File Type: zip Trades April2008.zip   826 KB | 1,283 downloads
  • #13,705
  • Edited 11:13am Apr 16, 2008 10:56am | Edited 11:13am
Quoting Phillip Nel
Info
Hi,Philip. I find that my trading skill has improved a lot after my becktesting, but I also find that I often unsurely decide whether take BOZ this singal such as today's eu. I should have considered that euro had in range for a long time and was about to break, especially today's euro's cpi may put it out of this triangle. I find this many times and I miss good trades for this BOZ which exists before big trend, but I am not whether it is a true BOZ and afraid of the price will continue its way.

Another is TC signal with a engulf candle pattern, you know this othen faces a big SL, but engulf pattern is a strong trend reserve pattern expecially with TC signal. I find that you othen take such TC singal. How do you handle this? Thanks
Plan your trades and trade your plans
  • #13,706
  • Apr 16, 2008 11:26am Apr 16, 2008 11:26am
Quoting saka
Hi,Philip. I find that my trading skill has improved a lot after my becktesting, but I also find that I often unsurely decide whether take BOZ this singal such as today's eu. I should have considered that euro had in range for a long time and was about to break, especially today's euro's cpi may put it out of this triangle. I find this many times and I miss good trades for this BOZ which exists before big trend, but I am not sure at this moment.

Another is TC signal with a engulf candle pattern, you know this othen faces a big SL, but engulf pattern is a strong trend reserve pattern expecially with TC signal. I find that you othen take such TC singal. How do you handle this? Thanks
Zerobreak and Zerobounce are strong signals. Especially if they occur around the 21ema. Unfortuanetly the TC after some strong news are with a big engulfing candle. What you can do is do backtesting on it and see how many gave positive results and what was the pulbback in pips and work out a strategy just around the TC with engulfing candle that puts the odds in you favour.
  • #13,707
  • Apr 16, 2008 11:34am Apr 16, 2008 11:34am
Quoting Phillip Nel
Zerobreak and Zerobounce are strong signals. Especially if they occur around the 21ema. Unfortuanetly the TC after some strong news are with a big engulfing candle. What you can do is do backtesting on it and see how many gave positive results and what was the pulbback in pips and work out a strategy just around the TC with engulfing candle that puts the odds in you favour.
Thanks. Would you please post your eu break out trade today? Your sl and TP edits. Then, are you going to plan to trade eu's TC trade if it sucesses to stand above the horizontal line of triangle and is about to continue its way to 1.6? If it sucesses, I just think that it will break 1.6 in this week.
Plan your trades and trade your plans
  • #13,708
  • Apr 16, 2008 1:16pm Apr 16, 2008 1:16pm
Quoting Phillip Nel
Zerobreak and Zerobounce are strong signals. Especially if they occur around the 21ema. Unfortuanetly the TC after some strong news are with a big engulfing candle. What you can do is do backtesting on it and see how many gave positive results and what was the pulbback in pips and work out a strategy just around the TC with engulfing candle that puts the odds in you favour.
Hello P?hillip,

you just spoke about "Zerobreak and Zerobounce ".
I know now what the MACD pattern of a zerobounce is (a trend continuation after the MACD came down to 0 and turns in the opposite direction again...I guess)
But which set-up is ZEROBREAK?

Thx Till
  • #13,709
  • Apr 16, 2008 1:17pm Apr 16, 2008 1:17pm
The triangle indicated a possible breakout to the top so did not take profit at TL. Stoploss just below the TL.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 22 KB
  • #13,710
  • Apr 16, 2008 1:21pm Apr 16, 2008 1:21pm
Quoting RemingtonTJ
Hello P?hillip,

you just spoke about "Zerobreak and Zerobounce ".
I know now what the MACD pattern of a zerobounce is (a trend continuation after the MACD came down to 0 and turns in the opposite direction again...I guess)
But which set-up is ZEROBREAK?

Thx Till
Zero Bounce = the MACD comes down to the 0 line and then bounces back (either back above or below) where it came from.

Zero Break = the MACD crosses the 0 line (from above to below the 0 line or vice versa).
  • #13,711
  • Edited 1:45pm Apr 16, 2008 1:34pm | Edited 1:45pm
Quoting RemingtonTJ
Hello P?hillip,

you just spoke about "Zerobreak and Zerobounce ".
I know now what the MACD pattern of a zerobounce is (a trend continuation after the MACD came down to 0 and turns in the opposite direction again...I guess)
But which set-up is ZEROBREAK?

Thx Till
MACD goes through zero for max 4candles then turnaround and give signal candle. See graph. Todays EurUsd signal was a very small zerobreak. I will call it a Zerobounce rather.
Attached Image
  • #13,712
  • Apr 16, 2008 2:33pm Apr 16, 2008 2:33pm
I know this is off topic, however I have recently transferred to MT4 and noticed some charts with drawings and short horizontal lines besides the obvious (Fibs), does anyone know ho to shoten these lines or a way to perform drawings on this platform? I have noticed bshadroo's charts have some drawings...Any assistance would be appreciative and keep up the great thread Phil...I have interbank FX MT4 Platform
  • #13,713
  • Apr 16, 2008 3:14pm Apr 16, 2008 3:14pm
Hi Phillip.
I saw the setup on the Euro this morning, but thought the Pound was a more reliable trade. Was there something that concerned you about the Pound RB signal this morning?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 416.gif Size: 23 KB
  • #13,714
  • Apr 16, 2008 4:08pm Apr 16, 2008 4:08pm
Written copy of Phillips MP3, post 13705....
Thanks Phillip.
Attached File(s)
File Type: doc Trades April 2008 - written copy.doc   27 KB | 669 downloads
  • #13,715
  • Apr 16, 2008 4:22pm Apr 16, 2008 4:22pm
Saka,
I have just started doing some back testing...TC off the 21 to begin with. How far back are you going?
Raymond

Quoting saka
Hi,Philip. I find that my trading skill has improved a lot after my becktesting, but I also find that I often unsurely decide whether take BOZ this singal such as today's eu. I should have considered that euro had in range for a long time and was about to break, especially today's euro's cpi may put it out of this triangle. I find this many times and I miss good trades for this BOZ which exists before big trend, but I am not whether it is a true BOZ and afraid of the price will continue its way.

Another is TC signal with a engulf candle pattern, you know this othen faces a big SL, but engulf pattern is a strong trend reserve pattern expecially with TC signal. I find that you othen take such TC singal. How do you handle this? Thanks
  • #13,716
  • Apr 16, 2008 4:28pm Apr 16, 2008 4:28pm
Quoting rising sun
I know this is off topic, however I have recently transferred to MT4 and noticed some charts with drawings and short horizontal lines besides the obvious (Fibs), does anyone know ho to shoten these lines or a way to perform drawings on this platform? I have noticed bshadroo's charts have some drawings...Any assistance would be appreciative and keep up the great thread Phil...I have interbank FX MT4 Platform
If you mean drawing trendlines, etc....Do this, draw a trendline then double click it to select it (3 dots will show up), right click on it and when the window pops up, select parameters and uncheck Ray. That allows you to 'freely draw' the trendline...
  • #13,717
  • Apr 16, 2008 4:34pm Apr 16, 2008 4:34pm
Attached are two mt4 indicators previously posted (here or elsewhere?) and related to recent discussions.

One: Clock Convertor Indicator. This puts the time on your chart for Tokyo, your broker, London, GMT, New York, and your locale. Times are referenced from GMT. So, for example, New York is lagging (-) GMT time by 4 hours. When completing the tile to open the indicator on your chart, for LocalTZyou would enter “-5” for CST and "-6" for PST, etc.. You do not have to show the local time zone if you are in EST zone as New York is one of the time zones shown and LocalTZ is set to “false” for OFF by default. But you will want to if you are in other than the EST zone. You will need to enter the right number for your broker’s zone, relative to GMT. I use FXDD Metatrader software which is based on the time zone in Russia where Metaquotes is located. This is 3 hours advanced of GMT, so I need to enter “3” for BrokerTZ. DST is for Daylight Savings Time auto adjustment and is “true”/ON by default. The inputs for “corner” and “topOff” determine which corner of the chart the times will appear: 0=upper left, 1=upper right, 2=lower left, 3=lower right. The number in “topOff” moves the display farther away from the upper/lower chart border as the number is increased. The “170” is set to place this just below the ATR & Range Data indicator described next.

Two: ATR & Range Data Indicator. This places key ATR and price information for the day in the upper left portion of your chart. Presuming your chart Properties include “Show OHLC”, which identifies the currency pair and the OHLC information at the upper left of your chart, this ATR & Range Data indicator skips a line and then displays its data. If you are using the Clock Convertor indicator described above, it skips a space after the ATR & Range Data display, and then presents its data.

With these two indicators you will have on any chart the important time zone times and daily ATR data, all grouped neatly in the upper left corner of any chart you apply the indicators to.
Attached File(s)
File Type: mq4 ATR & Range Data.mq4   2 KB | 1,229 downloads
File Type: mq4 Clock Convertor.mq4   5 KB | 1,173 downloads
  • #13,718
  • Apr 16, 2008 4:52pm Apr 16, 2008 4:52pm
Quoting Morelands
Saka,
I have just started doing some back testing...TC off the 21 to begin with. How far back are you going?
Raymond
Do you realize how odd or uncommitted that question is? That is like a person that wants to be a pro basketball in the NBA asking his coach how long do I need to practice or do I need to practice.

If you want to make it replay every 4H bar using the F12 key concentrating on TC - do this every week for 1 year of data. Then next week pick a different year. Repeat this for months and months - you will start seeing things that will sharpen your edge.
  • #13,719
  • Apr 16, 2008 5:04pm Apr 16, 2008 5:04pm
Thanks Palmer.....
  • #13,720
  • Apr 16, 2008 5:33pm Apr 16, 2008 5:33pm
Quoting Morelands
Saka,
I have just started doing some back testing...TC off the 21 to begin with. How far back are you going?
Raymond
My experience is the more the better, no need to be only TC. Set the auto roll button off and press f12, the candle will appear in chart one by one just like real trade, you don't know what next canlde is. Only EU this pair, then GU.

You should focus on the relationship between price and five MAs, that's the MARKET RHYTHM which is the key of this method. Only observe which is good time the trade, then see whether MACD pattern fit the rule to let you put the trigger. If you can draw some trend line in consolidation period that's better. You will grasp the spirit of 4h strategy
Plan your trades and trade your plans
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