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Trend Follower 5 Minute System

  • #1,901
  • May 23, 2008 2:08pm May 23, 2008 2:08pm
all indicators give false signals only mesa dont give this false signal
laguerre its the best. ive try it on another system channel 1H
the same when move from 80 to 30 or 15 always big trend change
ive read all the post about imrain when laguere is moving lateral
means trend continuation but sometimes kept when moves from 80 to 15
reaches 0.45 invert and there there is another trend change
the most important rule are pivot support and resistances
so when you are near this line maximum attention
i think false signal are news the rules dont trade during the news 30 min before and 30 min after are always valid not because you cant trade the news
but because you waste your time thanks to timex for is lagueree with dots
there is a system in this forum which doesnt trade during news but i forget where is sorry
  • #1,902
  • May 23, 2008 3:32pm May 23, 2008 3:32pm
CEO,

I came across ur thread and i kind of like it, Good work!
I was wandering if anyone can render an assistance to me by adding a email and sound alert to a MTF MACD COLOR with setting 7, 19, 7, for my own contributions to the forum too. Thanks
[email protected]
Attached File(s)
File Type: mq4 MTF_MACD_inColor.mq4   5 KB | 1,082 downloads
  • #1,903
  • May 23, 2008 6:31pm May 23, 2008 6:31pm
may i knw the preferred laguere setting of the system??

sonic
  • #1,904
  • Edited 7:31pm May 23, 2008 6:51pm | Edited 7:31pm
I am planning to do some testing on the original system as outlined by TheWicker. All of his posts seemed very sound and reasonable, and he seems like a trader whom you could trust to produce a sound system. I am sure the thousands of posts in this thread have produced some very good EAs, and adapted and interpreted this system to everyone's personal specifications...
But for anyone who is interested in the original system as outline by TheWicker, here are some links that should provide some useful information. This is not for someone looking for an EA that will automate them to riches, but rather for traders who are new to the system and overwhelmed by the thousands of posts and are looking to test out the original system as outlined by TheWicker.

Main Links
Original System write-up
Template
FF Thread
Trend Follower FAQ
 Additional Information (all are in original thread, hyperlink is if post is on new page)
Post # 19 - typo fix
Post #25 - MACD clarification
Post # 40 - Additional Charts
Post #44 - Example of exception to signals
Post #46-47 - Clarification for use of Slope Direction line
Post #51 - Another Example
Post #60 - Reveals he uses the system on many pairs, and is very picky about trades
Post #68 - Shows an acceptable failed trade due to volatility and a trade on the gold market!
Post #82 - Another example of an acceptable loss situation, good sign when an author admits losses without any shame!
Post #85 - Back in 2006, CAD didn't perform well with this system
Post #90 - TheWicker points out "false trades" lots of younger members are taking, and once again shows patience is key! Also mentions another possible use of the slope line as a safeguard
Post #95 - VERY IMPORTANT: If understood correctly, TheWicker is saying that you can take a trade if some of the signals were met on the previous bar and the remainder occurred on this bar.
Post #105 - Another important post, states SL levels
Post #114 - More on exit strategy
Post #169 - Slope line is not a signal, but a safeguard
Post #202 - Inspirational, TheWicker is a very sound person indeed
Post #324 - System produces about 3 trades a week per pair

Most of all I would like to thank TheWicker for releasing this system and for all the time he put into helping others to understand how the system worked. Also kudos to wiper who seems to have picked up the system very near its release time on the forum, helped to clarify the system early on with good insightful questions, helped the system grow as time moved on, and also looks to have experienced great success trading this system.
Kiss'n all the way to the top!
  • #1,905
  • May 24, 2008 1:52am May 24, 2008 1:52am
Quoting Clauticeo
I am planning to do some testing on the original system as outlined by TheWicker. All of his posts seemed very sound and reasonable, and he seems like a trader whom you could trust to produce a sound system. I am sure the thousands of posts in this thread have produced some very good EAs, and adapted and interpreted this system to everyone's personal specifications...
But for anyone who is interested in the original system as outline by TheWicker, here are some links that should provide some useful information. This is not for someone looking for an EA that will automate them to riches, but rather for traders who are new to the system and overwhelmed by the thousands of posts and are looking to test out the original system as outlined by TheWicker.

Main Links
Original System write-up
Template
FF Thread
Trend Follower FAQ
Additional Information (all are in original thread, hyperlink is if post is on new page)
Post # 19 - typo fix
Post #25 - MACD clarification
Post # 40 - Additional Charts
Post #44 - Example of exception to signals
Post #46-47 - Clarification for use of Slope Direction line
Post #51 - Another Example
Post #60 - Reveals he uses the system on many pairs, and is very picky about trades
Post #68 - Shows an acceptable failed trade due to volatility and a trade on the gold market!
Post #82 - Another example of an acceptable loss situation, good sign when an author admits losses without any shame!
Post #85 - Back in 2006, CAD didn't perform well with this system
Post #90 - TheWicker points out "false trades" lots of younger members are taking, and once again shows patience is key! Also mentions another possible use of the slope line as a safeguard
Post #95 - VERY IMPORTANT: If understood correctly, TheWicker is saying that you can take a trade if some of the signals were met on the previous bar and the remainder occurred on this bar.
Post #105 - Another important post, states SL levels
Post #114 - More on exit strategy
Post #169 - Slope line is not a signal, but a safeguard
Post #202 - Inspirational, TheWicker is a very sound person indeed
Post #324 - System produces about 3 trades a week per pair

Most of all I would like to thank TheWicker for releasing this system and for all the time he put into helping others to understand how the system worked. Also kudos to wiper who seems to have picked up the system very near its release time on the forum, helped to clarify the system early on with good insightful questions, helped the system grow as time moved on, and also looks to have experienced great success trading this system.
Thanks, this is really useful and save me time...
  • #1,906
  • May 24, 2008 11:20am May 24, 2008 11:20am
Clauticeo, thanks, that's a great list.

I've been trading the original Wicker system with the EA by pmurfin for signals. It seems to me though that these signals in general come a little late. Mostly when they come, the rainbow is pretty expanded. (Then again I start trading at about 11:30 AM GMT, maybe that's late.)

From my understanding of the EA, it requires all the different colors of the rainbow to be red below green below blue below orange below yellow. Now if you go to TheWicker's first post and look at the first image, the yellow lines aren't necessarily all above the orange. Or am I seeing this wrong? Here is the image he had posted:

http://www.forexfactory.com/attachme...5&d=1185897434

Maybe it would be better not to use the EA for signals? What do you guys think?
  • #1,907
  • May 24, 2008 8:19pm May 24, 2008 8:19pm
Actually that is one thing I noticed as a discrepancy between the EA and the original system also. There very easily could have been a post where TheWicker clarified this, and said that the lines all must line up in a "proper rainbow." But as far as I can tell on the original system, the green line set must be on the proper side of the red line set, all the lines must be diverging, and thats it for the MMA rainbow effect. Nothing about the short term scalpers on the proper side of the long term investors, because if you wait for that, you completely missed your chance to buy in a dip/hump!
In many cases not having the perfect rainbow will get you into the trade early. You may even have a reversed move before the large trend move you expect, but if you wait for all the lines to cross to the proper side, you almost ALWAYS enter late.

Once again, sometimes trying to perfect a systems by modifying it destroys the beautiful effectiveness and priciples of the original system. One reason I think for the mass majority of traders, manual trading is still the only legitimate option.
Kudos, though to everyone who has spend a lot of time developing an EA for the system. I personally feel that turning a human skill(trading Forex) into an automated computer task, is a form of art all in its own. And it takes a very special type of person to be an effective artist.
Kiss'n all the way to the top!
  • #1,908
  • May 25, 2008 10:37am May 25, 2008 10:37am
Great that you noticed that also and I totally agree with you! Guess I'm back to manually checking signals (sigh).
  • #1,909
  • May 25, 2008 10:42am May 25, 2008 10:42am
TheWicker, I just wanted to thank you for posting such a great system!

I don't know if you're still monitoring this thread, but if you are, I wanted you to know that it's very much appreciated.
  • #1,910
  • May 26, 2008 5:18pm May 26, 2008 5:18pm
Quoting rod30
im doing it with lagueree indicator not laguere ok
ive noticed on 15 MT settings are gamma 0.7 30 80 0.45
when laguerre cross 30 to 80 there are big trend change
or reversal point try it
Rod, could you post your Laguerre RSi indicator, please. Many thanks!
One Chart is Worth Ten Thousand Words.
  • #1,911
  • May 27, 2008 6:09am May 27, 2008 6:09am
Hi guys,

I modified the EA (I hope pmurfin will forgive me) to take out the rainbow colors completely. That means if you get a signal with this, you have to check the colors and make sure green is above red to go long, red is above green to go short.

I also added an extra day to the laguerre, as TheWicker mentions in one of the posts that you can go back up to three days on the laguerre signal.

Here it is if someone else wants to give it a try.

Attached File(s)
File Type: ex4 SignalTrendFollower3.ex4   13 KB | 1,101 downloads

Attached File(s)
File Type: mq4 SignalTrendFollower3.mq4   11 KB | 1,370 downloads
  • #1,912
  • May 28, 2008 2:39am May 28, 2008 2:39am
Hey

I took a break for a while .... how is everybody doing?
  • #1,913
  • May 28, 2008 6:33am May 28, 2008 6:33am
Wow, it's great to see you!! Things are going well on this end.

So what happened? Can you satisfy our curiosity a bit?

By the way, I took the liberty to modify your EA a little (see the post right before yours). I added comments where I made the changes. I wanted to see if I could get more entries with the rainbow contracted, so I removed checking for color alignment.
  • #1,914
  • May 28, 2008 6:45am May 28, 2008 6:45am
well i was trying to completely automate it ... the entries were always pretty good but I could not consistently program good exits ... so I went off for a cup of English tea and got sort of interested in other models ... but nothing much to report on those ... so I though I'd pop my head back in and see how everybody is doing ... I'd still love to program a full EA but I'm not convinced it is possible ... I have loads of code to process the trades and manage trailing ATR based stops and my own 'keep percent of profit' stop but I'd be really interested if anybody has any other programmable stop strategies ... I could handle pivots S/R etc and also some candlestick patterns ... so any input or ideas would be much appreciated - and of course the proceeds of my efforts would be happily shared ...
  • #1,915
  • May 28, 2008 6:55am May 28, 2008 6:55am
Here are some of the things I would try (but you might have already done that):

- Sell half of the position at the next resistance level, move the stop to B/E and sell the other half at the following resistance level.

- Sell half of the position at the next resistance level, set the stop to B/E and stay in until the slope direction line changes color.

- Sell half of the position at the next resistance level, set the stop to B/E and stay in until the QQE 5 (or possibly 3) indicator crosses its line to go the other direction. Here I guess you'd have to check for the indicator to make sure it's really going in the right direction.

What do you think?
  • #1,916
  • May 28, 2008 6:58am May 28, 2008 6:58am
One more idea would be to incorporate the momentum in getting out. For example if it reaches a certain level.
  • #1,917
  • May 28, 2008 7:01am May 28, 2008 7:01am
Chris

Thanks ... let me get back up to speed and i'll have a play .... i'll have to do a bit of work on the trade routines to manage closing 1/2 the position (something I was going to do anyway) ....

cheers
  • #1,918
  • May 28, 2008 7:31am May 28, 2008 7:31am
OK. One more idea for selling the second half would be according to the Gann Hi Lo indicator.
  • #1,919
  • May 28, 2008 9:11am May 28, 2008 9:11am
If I may make a suggestion for the SL TP level. Decide a threshold you would like to keep for the SL (say 10 pip). Now your initial SL is set according to the recent low/high - SL_threshold (as outlined in the original strategy). Set your TP level to the 2nd pivot sup/res. Now set a static variable to keep track of the % of the way you have made it up to the first pivot level. As your % progression towards your first pivot level increases, you tighten your SL. This tightening should be proportional so that when you hit the first pivot level, your SL is your SL_threshold below/above your first pivot level. This pretty closely follow the ideas behind the original strategy, while leaving a level of mental comfort with EA users that they are limiting their losses.

Another much simpler solution if your EA does indeed get very good entry signals, is to set the TP level for the first pivot level, and only enter the trade if you have a 1:2 risk:reward ratio.
Long: tp-Ask>2*(Ask-sl)
Short: Bid-tp>2*(sl-Bid)
Or something of that sort. This should limit you from those pesky trades that are "mid trend" due to the nature of the SL (using the lowest low in a given time period) that TheWicker originally implemented.
Just a few thoughts, I am not sure whether you can code them or not, but they don't seem too difficult.
Kiss'n all the way to the top!
  • #1,920
  • May 28, 2008 9:54am May 28, 2008 9:54am
was a big fan of the system...

will try that again!!

sonic
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