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Trend Finder 4hr

  • #41
  • Jun 12, 2008 5:21pm Jun 12, 2008 5:21pm
Quoting Bull101
The example picture is GBP/USD, i'll try and fix the image link.
Besides GBP/USD, which pairs would you recommend for this system....TIA
  • #42
  • Jun 12, 2008 5:52pm Jun 12, 2008 5:52pm
Quoting forexmoments
It's much safer to enter after the candle has closed. As others have mentioned signals can change during candle formation. This in itself is risky.
This is true, the indicators can change midway through the candle. However, I find that waiting for the candle to close can create a lot of late entries and can cause there to be more losses and break evens than entering at the beginning of the candle.

Bull101
  • #43
  • Jun 12, 2008 5:54pm Jun 12, 2008 5:54pm
Quoting GRPip
Besides GBP/USD, which pairs would you recommend for this system....TIA

I trade this system on all available pairs. However, I am working on making custom stop losses and a custom take profit for the first trade for different pairs.

Example: GBP/USD will usually reach the break even point a lot easier than AUD/USD.

It will take some time to get the best values worked out, however the static -100, +50, +100 values have worked very well for me.
  • #44
  • Jun 12, 2008 6:14pm Jun 12, 2008 6:14pm
RR....not very familiar with EA's, so what changes, if any, do I have to make in this EA to personalize it for myself? Also do you have any idea what pairs is best to trade with this EA? TIA....and keep up the great work!
  • #45
  • Jun 12, 2008 6:25pm Jun 12, 2008 6:25pm
hello there...
Bull, could u please share with us the results u had achieved over past couple of months over past months? i dont think that the visual backtesting will be very accurate in this case.
cheers,
Tonny
  • #46
  • Jun 12, 2008 7:38pm Jun 12, 2008 7:38pm
Quoting lcfxtrader
It could be possible to get a reverse signal between the stop loss of -100 pips and +50 pips (150 pip delta). I was wondering how the EA would handle this? So you are also saying that the EA will not open 2 orders at a time as per the manual rule?
It will follow any reverse signal it sees, but if that part about the 150 pip delta is true, then I need to modify the code.

Quoting GRPip
RR....not very familiar with EA's, so what changes, if any, do I have to make in this EA to personalize it for myself? Also do you have any idea what pairs is best to trade with this EA? TIA....and keep up the great work!
Personalize? Have you even tried loading the EA on your platform yet?
  • #47
  • Jun 12, 2008 8:18pm Jun 12, 2008 8:18pm
Looks like the EA just opened a short order when AO was green.

http://www.forexfactory.com/attachme...1&d=1213319797

It also did the same for AUDUSD around the same time.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_h4_trendilator.gif Size: 27 KB
  • #48
  • Jun 12, 2008 8:38pm Jun 12, 2008 8:38pm
How long after the trade was taken was this screenshot taken?
  • #49
  • Jun 12, 2008 11:51pm Jun 12, 2008 11:51pm
Looks Like 12 Min And 8 Sec Trade Should Have Been Taken On The Bar Open, Correct???
  • #50
  • Jun 13, 2008 12:13am Jun 13, 2008 12:13am
Thank you Bull for sharing your systems and for your time.

And thank you Ron also for your time and for creating the EA. Since my EA didn't open any orders, I was wondering if I need to check the "Allow DLL imports" or something else? I didn't change the lots amount which is set to 0.0, maybe this is the obvious answer, but I wanted to make sure before I did.
  • #51
  • Jun 13, 2008 1:13am Jun 13, 2008 1:13am
That's right Izzybel. RR deliberately set it to 0.0 so you don't blindly load up the EA and blow your account. Check your parameters.

Great idea RR,
  • #52
  • Jun 13, 2008 2:38am Jun 13, 2008 2:38am
Bull
Would this be a sell on GBP/CHF?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 21 KB
  • #53
  • Jun 13, 2008 3:27am Jun 13, 2008 3:27am
My findings on EU is same wth u guys that the candle changes color,so i decided 2 add heiken ashi and parabolic sar wth fibonacci,so 5/6 must align b4 taking the trade,am stil testing it though also we shdnt 4get candle sticks formation also.

I discovered also dat stochhisto usu give the signal first so wait firstly 4 stoch histo to change direction(above 0) then look at AO and Adv ADR for corrs signal followed by heiken ashi and sar(obeying d sar and ashi will save sometimes) then use ur fibonacci for probable profit target,instead of just saying 100 pips,I believe this shd work.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #54
  • Jun 13, 2008 3:42am Jun 13, 2008 3:42am
My findings on EU is same wth u guys that the candle changes color,so i decided 2 add heiken ashi and parabolic sar wth fibonacci,so 5/6 must align b4 taking the trade,am stil testing it though also we shdnt 4get candle sticks formation also.

I discovered also dat stochhisto usu give the signal first so wait firstly 4 stoch histo to change direction(above 0) then look at AO and Adv ADR for corrs signal followed by heiken ashi and sar(obeying d sar and ashi will save sometimes) then use ur fibonacci for probable profit target,instead of just saying 100 pips,I believe this shd work.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #55
  • Jun 13, 2008 4:01am Jun 13, 2008 4:01am
the above GBP/CHF trade would have lost
as you say its not 100%
  • #56
  • Jun 13, 2008 4:05am Jun 13, 2008 4:05am
Just opened a buy on USD/CHF
all 3 green
is this correct Bull?
  • #57
  • Edited 4:46am Jun 13, 2008 4:19am | Edited 4:46am
...anyone else see the UJ long?...trendillator EA caught it, but i'd have easily missed the brief flicker to green on the AO. Without an EA, i can't see that this is a particularly practical strat if we're taking entries during a candle/bar....i'm probably missing something?

Edit: My mistake, i think i moved down to the 5min chart while the EA was running and it made the entry on that TF. Apologies.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 13th June.GIF Size: 79 KB
  • #58
  • Jun 13, 2008 5:17am Jun 13, 2008 5:17am
I am new in forex, your system is great, I am going to demo trade it right away, please can you help me with any indicator or Moving avarage that gives or show the direction/trend of the market. Thanks
Quoting Bull101
Hello Everyone,
Here is the 4hr system I have been developing that has proven consistent positive results.

Trend Finder Daily is a variation of this system using the daily chart. It has higher probability entries as well as longer moves.

Summary
This systems backbone is the Awesome Oscillator by Bill Williams. When combined with the indicators detailed below, it becomes a very high accuracy trading tool. It becomes very consistent on a 4hr chart. This system is designed to find high probability trades on a 4hr chart and lock in profits quickly and protect you from losses quickly.

Development
It all started when I added the awesome oscillator to a chart and began to realize its true potential. However, you will quickly realize that the Awesome Oscillator alone is not a powerful enough indicator. After months of testing over 25 different indicators, with god knows how many different setups, I have finally determined the following:

1. The Awesome Oscillator determines the general direction of a trending market with great accuracy.
2. ADX determines the strength of the current trend, as well as a confirmation on direction.
3. Stochastic helps determine when a trend has truly changed directions.

In Conclusion,
With the awesome Oscillator showing the direction of the market, the adx showing you that it has enough power to make you a decent amount of pips, and the stochastic oscillator confirming a trend move, these 3 indicators working together provides a very reliable entry signal.

These three indicators might sound like it will be confusing, but it is actually very simple, please continue reading for the full details of the system.

------------------------------------------
The System

Chart Setup
Open a 4hr Chart.
Add the Awesome Oscillator.
Add the Stochastic Histogram, with 5,3,3 settings.
Add the Advanced_ADX Indicator with a 13 day period.

Long Entry Criteria:
1. The Awesome Oscillator is Green.
2. The Stochastic Histogram is Green.
3. The ADX Indicator is Green AND above the 15 line.

Its that simple! 3 Greens means GO LONG!

Short Entry Criteria:
1. The Awesome Oscillator is Red.
2. The Stochastic Histogram is Red.
3. The ADX Indicator is Red AND above the 15 line.

That's it for shorts! 3 Reds means SHORT.

Money Management and Exit Strategy
1. Open 2 trades which together risk no more than 3% of your total available balance.
2. Set a stop loss of -100 pips for both trades.

Trade 1: Set a take profit at +100 pips.
Trade 2: Allow this trade to run until 2 indicators are showing a reverse signal.
Both Trades: When you reach +50 pips, set the stop loss for both trades to 0. (Break even)
Both Trades: Ignore any exit signals for both trades until +50 is reached and a break even is set.
------------------------------------------

Examples

http://img389.imageshack.us/img389/6894/smallch2.gif
Click Here to Enlarge Image

Results of Examples

Long Entry 1:
Trade 1: +100
Trade 2: +155

Short Entry 1:
Trade 1: +100
Trade 2: +34

Long Entry 2:
Trade 1: 0
Trade 2: 0

Short Entry 2:
Trade 1: +100
Trade 2: +186

Long Entry 3:
Trade 1: +100
Trade 2: +65

Short Entry 3:
Trade 1: +100
Trade 2: +184

Long Entry 4:
Trade 1: 0
Trade 2: 0

Example Totals

7 trades taken between 9 trading days on 1 pair:
5 Winning Trades.
2 Break Even Trades.
0 Losing Trades.
+1124 pips.

I have attached the indicators as well as the template I use below.

That's it, I hope this brings you as much success as it has brought me.
Feel free to ask any questions you may have.

Good Luck Everyone!
  • #59
  • Jun 13, 2008 6:50am Jun 13, 2008 6:50am
Quoting ollynick
I am new in forex, your system is great, I am going to demo trade it right away, please can you help me with any indicator or Moving avarage that gives or show the direction/trend of the market. Thanks

200SMA is always a good starting point.

  1. Defined positive slope (definitely above 0) uptrending
  2. Defined negative slope (definitely below 0) downtrending
  3. Undefined slope (near 0) ranging.

  • #60
  • Jun 13, 2008 7:48am Jun 13, 2008 7:48am
tnx bull i made some cool pips trading ur system complemented wth d additin i said earlier ,tnx more pips to our banks.
D labour of a fool wearieth him cos he doesn't know how to enta d city
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