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4 Hour Strategy (MACD)

  • #15,401
  • Jun 6, 2008 11:53am Jun 6, 2008 11:53am
Quoting fena74
GBPUSD -I waited the signal from MACD in 14.00 and I was ready to go short because it was ideal setup but thanx to this thread I understood for NPF and stayed away.
I want to ask a question-when NPF is?Every Friday or not and what time is usually?Thank you.
Hi, fena, --Click on the calendar tab, and then click on the flag under the heading, "information" I believe is the title. Then you'll get something like this, when you click on the news item you want:
Source Bureau of Labor Statistics (latest release) Next Release Jul 3, 2008 Measures Change in the number of employed people during the previous month, excluding the farming industry; Usual Effect Actual > Forecast = Good for currency; Frequency First Friday of the month; FF Notes This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts; Acronyms Non-Farm Payrolls (NFP); Also Called Nonfarm Payrolls, NFP, Employment Report; Why Traders
Care Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
  • #15,402
  • Jun 6, 2008 12:16pm Jun 6, 2008 12:16pm
Hi OldDog,Thank you very much-now I can see when is the next date.Thank you.It is so easy but I do not knew it.Happy to know that.Thank you for your help again.I really apreciate it.
  • #15,403
  • Jun 7, 2008 3:46am Jun 7, 2008 3:46am
Quoting saka
See these two charts
thx saka now i now more reason not to enter bad R:R.
i guest i draw that trendline (brown in my chart) wrong, need more zoom in and out, i draw that again and now look like this
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  • #15,404
  • Jun 8, 2008 8:32am Jun 8, 2008 8:32am
hi guys, with regards to the 4h_MACD_FX_Strategy.mq4

May i ask what is the purpose of the roll-over and roll-under?

Thanks
  • #15,405
  • Edited 2:31pm Jun 8, 2008 12:20pm | Edited 2:31pm
Hi,I tried to backtest the system both 4hours and 1 hours together but i have difficulties to test it.Could anybody tell me how is best to test the system when I want to backtest 4hrs with 1 hour enter?I just tryied with opening 2 sessions for 4 and 1 hour and to do it with F12 step by step but it is not very convinient I see.Thank you
  • #15,406
  • Jun 8, 2008 2:06pm Jun 8, 2008 2:06pm
"I belive that systems tend to be more useful or successful for the originator than for someone else. It's important that an approach be personalized; otherwise, you won't have te confidece to follow it." -Gil
  • #15,407
  • Jun 8, 2008 5:41pm Jun 8, 2008 5:41pm
Quoting dog-eat-dog
"I belive that systems tend to be more useful or successful for the originator than for someone else. It's important that an approach be personalized; otherwise, you won't have te confidece to follow it." -Gil
definitely!!!!!!!!
  • #15,408
  • Jun 9, 2008 1:08am Jun 9, 2008 1:08am
Quoting fena74
Hi,I tried to backtest the system both 4hours and 1 hours together but i have difficulties to test it.Could anybody tell me how is best to test the system when I want to backtest 4hrs with 1 hour enter?I just tryied with opening 2 sessions for 4 and 1 hour and to do it with F12 step by step but it is not very convinient I see.Thank you
Hi, fena74.
Unfortunately, I don't know the way for more or less convenient backtesting both on 4H and 1H timeframes simultaneously in MetaTrader4. The one you've mentioned might be the only one that I know. ForexTester or other similar software may allow that though I'm not sure as didn't test it.

So, I'm doing my backtesting on 4H solely. P.s. Besides using F12, maybe, you'll find this "semi-realtime" way of testing in MT4 also useful.
  • #15,409
  • Jun 9, 2008 1:43am Jun 9, 2008 1:43am
Quoting fena74
Hi,I tried to backtest the system both 4hours and 1 hours together but i have difficulties to test it.Could anybody tell me how is best to test the system when I want to backtest 4hrs with 1 hour enter?I just tryied with opening 2 sessions for 4 and 1 hour and to do it with F12 step by step but it is not very convinient I see.Thank you

The 1 hr charts are not used very often for the entry you refer to. I would just stick to back testing of the 4hr charts to understand the rhythm and how the macd works with the candles. That will keep you busy enough for a long time. Just keep it very simple and add any 1 hr entries later when they are needed.
  • #15,410
  • Jun 9, 2008 5:47am Jun 9, 2008 5:47am
Thank you Yorik and Napeharm for the answers you gave to me.I will concentrate all my attention on 4Hrs backtesting.I know that 1Hr is just for TC entry and not alll the time so I will concentrate on backtest 4Hrs.Yorik I will try this link you gave to me for backtesting software and I will tell later is it comfortable or not.
Thank you both.
  • #15,411
  • Jun 9, 2008 9:06am Jun 9, 2008 9:06am
Does anyone have the capability to load a chart with the 4hour indicators for the nearest crude oil futures contract for the 4hr and daily timeframes???
  • #15,412
  • Jun 9, 2008 9:44am Jun 9, 2008 9:44am
Quoting Palmer
Does anyone have the capability to load a chart with the 4hour indicators for the nearest crude oil futures contract for the 4hr and daily timeframes???
I would think you could do it with the WHC trader (search google for WHC trader). The WHC trader is just MT4, but it includes a lot more indexes (stocks, futures, indexes, etc.).

I don't have the WHC trader on my machine anymore (got a new lap top from work), so I can't say for certain.

BTW, did anyone CT short the EURUSD with the large tail this morning? I considered it, but I did not want to counter trend what was previously such a strong trend.
  • #15,413
  • Jun 9, 2008 9:48am Jun 9, 2008 9:48am
Hi Guys

I'm new on this thread! Have spent the last few months lurking about learning about this system and what a great one!! Finally have some courage without looking stuoid to post something which i hope is sensible - i have been following the EU and i think it has jest broken through a triangle and now tracing back - it may be an ideal set up for a TC. What do you guys reckon ?

PS I have been burnt with CT trades and there was a great one today on the EU but for now am just sticking to TC trades.
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  • #15,414
  • Jun 9, 2008 10:29am Jun 9, 2008 10:29am
Quoting unlv_tj
I would think you could do it with the WHC trader (search google for WHC trader). The WHC trader is just MT4, but it includes a lot more indexes (stocks, futures, indexes, etc.).

I don't have the WHC trader on my machine anymore (got a new lap top from work), so I can't say for certain.

BTW, did anyone CT short the EURUSD with the large tail this morning? I considered it, but I did not want to counter trend what was previously such a strong trend.
On my 4H (GMT+2) charts there have been 3 possible trades today of which I have taken none:

GBP/USD - TC long - I didnt take this because the TC came only after one bar pullback on the MACD although it did reach the 8. Also there were 2 trend lines above, one was broken and the other not so I decided not to take it. The trade would have been good and R/R was fine. This is the 3rd time in a week I have restrained from trades with more than one support / resistance trend line in the way, each time they would have been good. Im therefore considering taking these in the future (ie I will consider a trend line break to be good even if others are in the way).

EUR/USD - CT short - Didnt take it because stop was too big. I did look for the pullback up to take the short but it didnt happen and priced carried on down.

GBP/USD - CT short - After the move up price stalled and I anticipated a CT trade. Again didn't take this because of the stop being too large. I didn't consider the pull back because the breakout placed it around 10 pips from the stop and I was pretty sure it wouldn't pull back that far and even if it did I wouldn't have wanted to short it as it would have been an aggressive turnaround rather than a small retrace.
  • #15,415
  • Jun 9, 2008 10:30am Jun 9, 2008 10:30am
Quoting Palmer
Does anyone have the capability to load a chart with the 4hour indicators for the nearest crude oil futures contract for the 4hr and daily timeframes???
I have only that:July
Attached Image(s) (click to enlarge)
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  • #15,416
  • Jun 9, 2008 11:23am Jun 9, 2008 11:23am
Quoting Palmer
Does anyone have the capability to load a chart with the 4hour indicators for the nearest crude oil futures contract for the 4hr and daily timeframes???
www.northfinance.com ,download the platform
  • #15,417
  • Jun 9, 2008 11:29am Jun 9, 2008 11:29am
Quoting brettboz
On my 4H (GMT+2) charts there have been 3 possible trades today of which I have taken none:

GBP/USD - TC long - I didnt take this because the TC came only after one bar pullback on the MACD although it did reach the 8. Also there were 2 trend lines above, one was broken and the other not so I decided not to take it. The trade would have been good and R/R was fine. This is the 3rd time in a week I have restrained from trades with more than one support / resistance trend line in the way, each time they would have been good. Im therefore considering taking these in the future (ie I will consider a trend line break to be good even if others are in the way).

EUR/USD - CT short - Didnt take it because stop was too big. I did look for the pullback up to take the short but it didnt happen and priced carried on down.

GBP/USD - CT short - After the move up price stalled and I anticipated a CT trade. Again didn't take this because of the stop being too large. I didn't consider the pull back because the breakout placed it around 10 pips from the stop and I was pretty sure it wouldn't pull back that far and even if it did I wouldn't have wanted to short it as it would have been an aggressive turnaround rather than a small retrace.
I need to get more active here again...

I am kicking myself for not taking the EURUSD CT trade. It was off a previous trendline I had drawn, and the tail was very nice (read how RyanMCD is trading mostly just PinBars on the 4 hour anymore). But I didn't like going against what was a strong trend.

I didn't like the GBPUSD TC trade. A little tail to the top, and it stopped off what I have as a 23.6 FIB line. The MACD was well above the 45 mark as well. I might have gotten 15 or so pips off this, but I am glad I passed.

I also didn't like the GBPUSD CT trade either (just cannot make me happy ). I have the 365 that could interfer with a CT trade.
  • #15,418
  • Jun 9, 2008 3:17pm Jun 9, 2008 3:17pm
Quoting unlv_tj
I need to get more active here again...

I am kicking myself for not taking the EURUSD CT trade. It was off a previous trendline I had drawn, and the tail was very nice (read how RyanMCD is trading mostly just PinBars on the 4 hour anymore). But I didn't like going against what was a strong trend.

I didn't like the GBPUSD TC trade. A little tail to the top, and it stopped off what I have as a 23.6 FIB line. The MACD was well above the 45 mark as well. I might have gotten 15 or so pips off this, but I am glad I passed.

I also didn't like the GBPUSD CT trade either (just cannot make me happy ). I have the 365 that could interfer with a CT trade.
Hi
I also did not take the tail on due to the strength of the upmove. I love tails but decided to stay out. Rather got involve with shortterm strategy.
  • #15,419
  • Edited 4:19pm Jun 9, 2008 3:42pm | Edited 4:19pm
Using the rhythm rules of the 4H MACD to get involve with a shortterm strategy within a safe zone with a high probability.

Inset
Please dont discuss the safe zones on this 4H thread. I only posted it to give you people an idea of how to use your knowledge of the 4H system and use that knowledge to trade shortterm. If you think it is worth talking about, start a new thread. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 30 KB
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File Type: zip 4 Hour Rhythm and Shortterm.zip   820 KB | 1,730 downloads
  • #15,420
  • Jun 9, 2008 6:39pm Jun 9, 2008 6:39pm
Quoting kylekim
Hi Sukarno!
Seems like Ira is offline at the moment, so let me answer this one for her.
When you go to www.fxtradeblog.com , you will see a lots of useful stuffs.
You're gonna find not only tools and indicators, but also lessons, practice charts you can download and more. When you go to the website, go to: 1. The Method 2. Method tools 3. Helpful indicators. There you will find the indicator you're looking for, but also other useful one like the colored MACD indicator.
Most of us here have that colored MACD indicator on our chart.
Hope this will help ya.
We should thank Palmer for putting all the hard work together to create the website! But of course to Philip as well who made it possible! Thank you, thank you and thank you!
You're welcome!

Busy at work today and right now too....
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