Need help here to demystify this EA

Hi there again,

It is me david here. EA told me about the supply/resistance trendline break, drop down to 5min chart to confirm stoch not overbought, Force Index no spike and MACD is above waterline. Made the order and manage to scalp 10pips. But even though Force Index has not shown any spike I bail out due to fear. A note to myself when there is a price break wait till a spike has been form or a spinning candle to grab the maximum pip.

Hi there,

Just after the news EURUSD again after a spinning top should reverse but notice the Force Index did not touch the 0 leve means the bulls still have some steam to go. Indeed it as and I manage to scalp somemore. Of course to be safe always scalp on the 5min chart to get a better entry with limited risk as news time PA always look better in 5min chart. 1 min chart too much notice

Also there are many opportunity to scalp like this EURGBP notice the 2 extreme spike and dips. Actually if you miss the rallies you can benefit from it by going contrarian. As soon as you see the spike touches the 0 and a reversal candle like a spinning top appear and histogram showing sign of weakness from the bull. Always have 3 and above sign to take order to be safe. Go for it. How to know when the bear run has ended just look for the big V dip. Take your profit and leave the rest on the table for others

I turn off the EA as news time too much movement and EA is still EA it does sometimes take the bull run but if it reverse and hit the same buy order on the way down I could be losing some dough so decide to turn it off. Experience pays off

I know I am talking to myself. But can someone here help me to perfect this EA???? ANYONE????

A note to myself, sometimes it is better to wait for a reversal pattern and went for your order however before anything if force index show nothing see if Stoch is overbought or oversold that is with your order instead of going against it. Notice price reverse with a spinning top then it reverse again with a hammer and notice that Stoch is oversold and Force Index does not show any spike? What are you waiting for go for it. But I went in a bit too late...shucks...

Did not spot this 123 bottom on the USDJPY 15m chart. Bail out too early only manage to bag 10pips after which the dotted green line above shows the projected PA moves. Should have been patience enough as Stoch not overbought, MACD pointing up and Force Index is above 0....

Anyone out there can help me improve the EA so that the take profit is the dotted line instead of predefined TP?

Hi there,

As I have been asking the seniors here to help me on my EA which relies on Trendline break for entry confirm by MACD crossover and Stoch not overbought or oversold I happen to search the thread for MACD alert if they happen to cross. Indeed there is vast amount of info to give you what you seek. You just need to find it.

Please use this as it is quite good you don't have to use your naked eye to tell you it has cross especially before a news or london open or closing when the MACD and Stoch squeezing together

But pls be caution the MACD color is lagging as in too much computation makes it hard to switch between 15min and 5min and it hangs on 1min. I suggest using the manual indicator, MACD crossover alert


Cheers will see if this indicator gives me more mechanical view of the PA

Hi there,

The last friday I did not trade as well not in a wakey mood so today is a mon lets try. Honestly speaking I am not profiting with this system as I have 6 charts on my screen. Too many to look. Also my MM sucks even though I demo i trade as if it is real and real I want to play big. So today I shall commit myself to play with 1 lot and limit my loss to USD $20 per day. If I win I'll play more order if not that is all for the day. Also I have a sandbox account meaning trial and play account where I can test to trade just in case I fail.

Lets see what we have here.

EURUSD daily waving higher, uptrend but MACD trending down, Stoch trending down.

Hi there,

As you can see the below chart for EURUSD and USDCHF and USDJPY there is a constant hits on the resistance and support line then eventually there is a breakout which I manage to bag for the EURUSD only. But unfortuantely I was greedy to try to bag on the reversal at a loss of a few pips.

Below are the charts. As you can see the dotted line for the EURUSD show that the PA has hit the projected profit as well as the USDCHF but USDJPY have not hit. Lets see whether TD trendline works its miracle.

Also notice that Force Index has show some spike and dips that is where I tot I could bag some reversal. I bail out too early at a lost

Hi there,

As mention above prior to London open EURUSD has a resistance trendline break, lagging Stoch and MACD does't show any crossover but I take my bet as it is London open. In this kind of situation I should always cut my losses and let my profits run however price stalls so I bail out even though Force Index don't show any spike or dips.

Manage to scalp on retracement for the USDJPY unfortunately I did not get in earlier. A note to myself be very careful as the 5 min chart show no consolidation so the trend is not a continuous pattern get in.

Also pls use this indicator to remind you the when EUR open. I'm abit handicap with reminders so I use this session. Also there is this Fibo retracement indicator which I use occasionally when there is a big news.

After the rough waves price is consolidating waiting for the EUR news

8:00am EUR http://www.forexfactory.com/images/m...impact_low.gif IMF Press Conference
9:00am EUR http://www.forexfactory.com/images/m...act_medium.gif ECB President Trichet Speaks

It will be interesting to know how they will effect the price and which trendline will it break this time?

Hi there,

True to his word when price is consolidating after a big move you should be ready that it might continue from its previous run again. And indeed it has look at EURUSD and USDCHF. 1.5891 is the price EURUSD will reach, 0.9997 is USDCHF will dip. I bail out early as I notice a spinning top or Force Index has some spike. Lets see how true is this TD trendline indicator works. This is the 5min chart btw. I crank it down so that I can bail out when PA has lose its steam. Unfortunately it also makes me bail out too early to lose some pips.

Ok for the EURUSD it hit the predicted point but USDCHF did not but it probably will I think.

Meaning the highest pivot it might hit is M3 and the lowest pivot it might hit is M1 since M3 is hit prior to London open and New York open and no where insight is PA going to hit M1 I guess they might go higher for EURUSD and USDCHF and USDJPY might go low. Beside there is a golden cross between the EMAs suggesting an uptrend is inplace for the EUR.

Hi there it is me again. Market is slow but I saw a trendline break to the upside, scalping a few pips on reversal. Same problem again crank down to 5min chart to confirm that Stoch and MACD is not overbought and that PA has also break the resistance line in the 5min chart. 15min chart MACD is oversold so take the bet and it went up. Scalp the PA until Force Index on the 5min chart show a small spike. Confirm the move with USDCHF and opposite on the EURUSD. Price for USDJPY will probably move till 103.98 as there is a 123 bottom for both USDJPY and USDCHF. Lets see whether it is a boom or bust. (Crossing my fingers again)

I did not wait to find out bag my 10pips and I off.

Hi there,

It is me again. David manage to scalp about 6 pips on retracement, see the dotted line? Well that is the projected low for PA when it break the support line. How true is this lets see I'll keep you updated. I bail out early as on the 5 min chart Force Index show dips but it seems TD trendline price projection does work 70% of the time of course with a confluence of events like London close or MACD overbought etc...

I am still learning on when the bears or the bulls run out of steam with a lagging indicator but I know the bulls are in control again when there is a double bottom and Force Index show a sharp V. Almost 20pips to bag but I went in late and got in too early as PA is slow and I am scare.

A note to myself look out for reversal candle and double bottom probability quite high on a no news market to bag extra pips on reversal

http://www.forexfactory.com/showthread.php?t=46697

Something of similar threads which have shown same theory of soft for trendline break.

The below illustrate better to help me confirm whether a breakout is confirm and will hit the projected PT

http://www.forexfactory.com/showthread.php?t=8660

Hi there,

This indicator which I extracted out from the previous post has its benefit the fact that it has project tp profit with stoploss but also best is its way of qualifying a trendline break. However certain breakouts during news time does not help this indicator as it is slow to react. Take it with a pinch of salt. It is not an ironclad kind of signal.

Rule number 1
Do not play before London open, volume too low and the Dumb money is playing.

Rule number 2
If there is a demand/support or supply/resistance trendline break from the first candle wait until it close and went in only if the 2nd candle continues its trend from the 1st candle otherwise get ready to be fakeout. Please confirm it with MACD/Stoch crossover (always get fake out)

Rule number 3
If price breaks a trendline and it stalls crank down to 5min and see why? Most of the time it is a fakeout. Grab your profits or cut your losses.

Rule number 4
Grab pips on retracement only if the big trend is with the reversal otherwise grab a few pips and bail out cause it will not retrace much before it is being push back by the big trend.

Hi there,

It is me again, David. Started my trading on the Tokyo session bad idea. Lost about 20 pips on my live account. So had to stop trading live and decide to play in my sandbox. Prior to London open there was a swoon in price missed out on the support break, notice MACD/Stoch has crossover. It started about 2am EST missed out had to eat lunch where I am. Notice today is M2/M4 meaning prior to London open PA will drop down to M2 then prior to New York open PA might hit M4. But reading from CNBC market is slow so not show what is the probability. Then market slows down. Had to bail out a couple of times as the 5min chart show spike and dips then after London open 30mins later another swing point. Overall pips earn less then 50pips as I panicked wherever I see a spinning top notice it beside the lime green arrow there is a red spinning top? I went in earlier but bail out prior to that candle then went in again as it penetrated the central pivot point. Wasted 6 pips on commission. Now lets see will it rise and hit M4

Hi there,

Like the previous post I tot PA might hit M4 so I was greedy and let my profits run to M4 1.6008 did not set my profit to 20pips which I was told I should, it did run up 1.5976 and my price order 1.5944 almost 20pips I could have bag but I did not I did not get a chance to monitor as I got work. LAME!!!!! O well NEXT!!!

Why is it a beginner post a question he has so many views and answers? And why is it am I talking to myself here? Can the moderator at least let me have a response? Am I missing something here? Wicker? PeterFM? Merlin?