Simplicity is the ultimate form of sophistication ( Elite )

GarethC,

What time frames are you using? What pairs? and what trading sessions?

I find during the asian session, using a lower time frame is key for entry. However, the larger time frame (5min and 15min) candle patterns of potential reversal, distance from the 34 line, trend direction, pullbacks/ups sequence, etc. have greater weight than on the small time frame (less than 5min. chart).

I think using multimple charts helps to avoid some false signals before you realize the market is sick or lazy and then to stay on the side lines. Also, you will get some false signals no matter what and it could be a few each session. So far, the best i know to manage false signals is (1) to have a tight stop loss and (2) have two exit TP; #1 is fix amount for a few pips for 1/2 of the position and #2 to trail the other 1/2 of the position in direction of trade as each candle closes with the goal to get 2x, 3x, or 4x of the inital TP to help cancel out the loosers.

Hope this helps in your trouble shooting your trading plan.

T4L

Thanks for the reply. I trade London and the EU. Have also been looking at the GJ, but find it too volatile for my system. Trade the 5m with the 1m to indicate an entry. Have a TP of 10 and have done better with that.

Have also been watching the trend and SR to minimise the possiblity of a turnaround. Will press on tomorrow.

regards

GarethC

GarethC

I like the 5min and the 1min to enter time frame too! i find it gets me in quicker and able to achieve 3-6pip gains per trade for the asian markets - only time i have to trade these days. i apply it only to eu and uj. however, i am thinking about removing uj as it is more lazy or sick market compared to eu.

I stopped trading the gj as the spread is too large for me to scalp. i have evaluated other pairs and possibly the following due to lower spreads: gu, uchf, chfjpy, audjpy, audusd, and nzdusd. The end result is only focusing on 1 or maybe 2/3 pairs the most is key to being successful and keeping it simple. therefore, stick to eu and see how uj continues and either drop or change with one of the above pairs listed.

how do you determine your s/r lines for placement on your charts? i typicaly draw lines for the high/low from mid session of the US till start of the asian.

What time during the london session do you trade the EU? I am thinking of waking up early to trade EU and UJ 5:30am to 7am New York time. If you trade within this time, do you find at least one trade? i look back in recent days and typically see a trade signal and sometimes there is none.

What is your win % for 10pip gain? and also if it is during the possible hours i may trade?

Main reason i want to look to wake up early to trade later part of the london session is i my schedule makes it tough to regularly trade the asian market every day sun to thurs. i am evaluating to get to sleep a little earlier and loose some sleep.

any other insight to your experience with the 5m and 1m scalping the eu would be fantastic!

T4L

is there allready any EA developed for this system? this would be great

Universal MA Cross EA

Common Setting :
-----------------
StopLoss (default 100)
Set your Stop Loss. Use 0 (zero) if you don't like to use Stop Loss ( not recommended ).

TakeProfit (default 200)
Set your Take Profit. Use 0 (zero) if you like to use open target.


Trailing Stop Setting :
----------------------
TrailingStopType (default 1)
Set trailing stop type. 1:will start trailing if profit in pips is greater / same with TrailingStop. 2:will start trailing as soon as trade in profit. (will add other type of trailing stop if suggested, latest suggestion is SafeZone trailing stop post #99 Universal MA Cross EA )

TrailingStop (default 40)
Set the Trailing Stop. Use 0 (zero) if you don't use trailing stop feature.


Moving Average Setting :
------------------------
FastMAPeriod (default 10)
Fast Moving Average Period.

FastMAType (default EMA / 1)
Fast Moving Average Type 0:SMA 1:EMA 2:SMMA 3:LWMA

FastMAPrice (default Close / 0)
Fast Moving Average Applied Price 0:Close 1:Open 2:High 3:Low 4:Median 5:Typical 6:Weighted

FastMAshift (default 0)
Fast Moving Average Shift

SlowMAPeriod (default 80)
Slow Moving Average Period.

SlowMAType (default EMA / 1)
Slow Moving Average Type 0:SMA 1:EMA 2:SMMA 3:LWMA

SlowMAPrice (default Close / 0)
Slow Moving Average Applied Price 0:Close 1:Open 2:High 3:Low 4:Median 5:Typical 6:Weighted

FastMAshift (default 0)
Slow Moving Average Shift


Minimum Cross Distance :
------------------------
MinCrossDistance (default 0)
Set the pip distance between FastMA and SlowMA to be consider as a valid cross. Use 0 (zero) to disable this filter.

MaxLookUp (default 1)
Set number of bar after the cross to keep checking on the entry condition in regards with the minimum distance between FastMA and SlowMA. Need MinCrosDistance > 0 to enable this feature. Use 0 (zero) to disable this feature.


Exit Setting :
-------------
StopAndReverse (default true)
If set to TRUE, will exit any trade and reverse position when signal change.

PureSAR (default false)
If set to TRUE, will use no Stop Loss - Take Profit - and Trailing Stop. This is always in play setting.

ExitOnCross (default false)
If set to TRUE, will exit any trade if there is an opposite cross without consider any additional filter. So exit purely base on moving average cross.


Third MA Setting :
------------------
UseThirdMA (default false)
If set to TRUE (and UseCounterTrend = FALSE), will only trade according to ThirdMA direction, above for BUY and below for SELL.

UseCounterTrend (default false)
If set to TRUE will keep trade even if counter ThirdMA direction, but with different StopLoss and TakeProfit. Need UseThirdMA = TRUE to enable this feature.

OnlyCounterTrend (default false)
If set to TRUE will set the EA only to trade counter trend trade, mean BUY if cross below ThirdMA and SELL if cross above ThirdMA. Need UseCounterTrend = TRUE to enable this feature.

ThirdMAPeriod (defaul 100)
Third Moving Average Period.

ThirdMAType (default EMA / 1)
Third Moving Average Type 0:SMA 1:EMA 2:SMMA 3:LWMA

ThirdMAPrice (default Close / 0)
Third Moving Average Applied Price 0:Close 1:Open 2:High 3:Low 4:Median 5:Typical 6:Weighted

ThridMAshift (default 0)
Third Moving Average Shift

CTStopLoss (default 0)
Set your Stop Loss for CounterTrend trade. Use 0 (zero) if you don't like to use Stop Loss ( not recommended ).

CTTakeProfit (default 0)
Set your Take Profit for CounterTrend trade. Use 0 (zero) if you like to use open target.


Pivot Filter Setting :
-------------------
Use.Pivot.Filter (default false)
Set to true if you like to filter the trade, only BUY if the cross of Slow and Fast MA occur between S1 and S2 and only SELL if the cross of Slow and Fast MA occur between R1 and R2.

Order Setting :
--------------
ReverseCondition (default false)
Set TRUE to reverse the entry condition.

ConfirmedOnEntry (default true)
If set to TRUE, will enter/exit trade on the next bar after the cross confirmed. If set to FALSE, will enter/exit trade as soon as there is a cross.

OneEntryPerBar (default true)
If set to TRUE, will only trade once on one bar. If set to FALSE, will trade more than once on one bar if the entry condition is still valid, although still one trade at a time.

NumberOfTries (default 5)
Number of try if the order rejected by the system.

Slippage (default 5)
Slippage setting.

MagicNumber (default 1234)
Use to generate Magic Number. Change this number ONLY if you like to run the EA on same pair and same time frame but with different setting.


Multiple Open Trade Setting :
-----------------------------
MaxOpenTrade (default 2)
Number of maximum open trade at one time. This setting is use when StopAndReverse / PureSAR = FALSE so the EA won't close the open order when there is an opposite signal, but rather it will open a new trade. Set the number of open trade allowed. If StopAndReverse / PureSAR = TRUE this setting will always = 1, mean one trade at a time.

MinPriceDistance (default 5)
If multiple open trade enable (by set MaxOpenOrder>1 and OneEntryPerBar=FALSE) this number will determine the minimum distance between each trade on same direction.


Time Filter Setting :
-------------------
UseHourTrade (default false)
If set to TRUE, the EA only active on certain time.

StartHour (default 10)
Time when the EA start active (use with UseHourTrade = TRUE).

EndHour (default 11)
Time when the EA stop active (use with UseHourTrade = TRUE).


Lot and Money Management Setting :
------------------------------------
Lots (default 1)
Number of lot per trade.

MM (default false)
If set to TRUE, will use build in money management.

AccountIsMicro (default false)
If using Micro Account set this to TRUE.

Risk (default 10)
Use with MM = TRUE to set the risk per trade.


Cross Alert Setting :
--------------------
EnableAlert (default true)
Will sound an alert when there is a moving average cross, cross UP or cross DOWN.

SoundFilename (default "alert.wav")
The filename for the alert.


BackTest Setting :
------------------
PrintControl (default true)
Print some comment on backtesting.

Show_Settings (default true)
Show setting on the chart.

Hi there. I have tried to download your CCI indicators tp programme files/FXDD-metatrader4/experts/indicators a dozen times but not successful but when download your clock and EJ candle times i have got no problem. Please help

Sherlina,
What do you mean by "CCI indicators tp"?
Check your custom indi folder, make sure "CCI_Woodies_Lnx_v4.mq4" already in there.

Thanks for the reply,

I have check under the customs indicators its not there. The funny things is that I download clock_v1_2 and EJ_ candle time using exactly the same method without any problem. Anyone with same problems. I serioulsy feels that this method is the best so far i have come accross thank waterflame. May god bless you.

That's funny. Just try another CCI Woodies, I think that's OK as long as you put the same values. Good luck!

JackButler,

My apologies for not responding sooner. I have not spent much time on the forum lately.

If I understand correctly, you are talking about using the 100 crossover as a TP point. I had noticed that the 100 crossover does offer a TP. Although on about half the trades it would cause a trader to short his profit. However, it is far better to have short profit, than no profit.

I have also noticed that when the CCI's high (or low) corresponds with a hammer or doji, there is a high probability of a shift in the current trend's direction. Using a lower TF (such as a 5M for the 15M or the 1M for the 5M) can help to confirm the change in the trend. I also use pivot points to help confirm this.

Regards,

Hello All who are trading this method!

If you are scalping pairs during the asian session, feel free to log into the www.tradingrooms.com and go to the community room called "ELITE Simplicity". I am usually there and if want to scalp trade.

I have been live now for two weeks now and have 19 wins and 1 loss.

It's always great to have a team/group of trades applying the the same method to ensure execution is being followed 100% and not missing out on potential winning trades.


I know there is another trading room for this method on another website. they focus more in the london and US sessions and they have other stuff going on too. I opened this trading room to only focus on scalping pars during the asian markets, but feel free to use it any time for your self.

To all who have learned this method and recently applied it with real $ (not with micro lot trading), how is your performance with wins/loss, Risk:Reward, with what pairs, time frames, and sessions?

i only focus on the EU, UJ, EJ, and considering AUDUSD and maybe some other jpy pairs.



Regards,

T4L

Congratulation on your success, but how do you scalp a 34 ma?

aud,

The cross of the 3EMA to the 34SMA is used for the signal along with the 34CCI index line cross zero line.

is this what you are asking about?

T4L

Hi trader4life,

Can I scalp using 30 min TF using your strategy?

Can you briefly explain to me how make a correct entry? I seems to get the wrong entry and always hit my SL.

My profit target is not more than 20 pips since my plan was to avoid unnecessary loss due to small capital, I decided to just need one good entry indicator where an almost 90% chance of hitting TP of 10-20pips.

Pls help me out Thanks.

...however due to time constraints (and need for sleep). I would greatly appreciate some help in developing an EA in the way I trade this system. It works well for me and would recommend it to anyone who is challanged with time.

The EA would:

1. Open a trade on the candle close of the 3/34 cross for 3 lots (i use a mini account).
2. t/p one lot at 10 pips, 2nd lot at 20 pips, third lot ~ let it ride until reverse cross.
3. in any event, close any open position(s) when the cross reverses and of course open new ones with the new trend.

simple stupid, right?

what this does is basically keep losses mitigated for the little fake moves or even make you a little, but keep you in the game for the nice smooth runs. if anyone notices, the fake moves usually happen when volume/activity is low. this is usally when i need to be hitting the sack. when i forced myself awake using this method, it was very profitable. i don't like trading with ea's but this system is so good, i think i could get myself to sleep without worry.

thanks for any help and feedback.

jim

I need some help when you say this "notice : every signal will be confirmed after the next CANDLE, behave on the Current CANDLE while the signal is appearing, and analyze it well, it will be your loosing or wining CANDLE ( with this system you will be a winner before the market behave on you ) research about it well."

Can you please clarify that?
every signal will beconfirmed after the next candle? So I have to enter on the chandle before it closes and then wait for confirmation two candles later?

You are asking some very good questions! Hopefully Waterflame will answer them. I would like to know what he thinks.

T4L

I have taken that to mean the candle after the cross is the candle to make the entry decision on (see attached chart.)

Clansman,

Based on your picture, do you enter at the open of the candle with the red arrow above it? Or at the close?

The candle with the red arrow: what are the characteristics during the time frame duration and the closed completed candle formation do you look for that acts as added value for longs and short positions?


In my experience, i have focused more on the signal candle and the candle before. That is completed candle on the timeframe i place trades. Also look at a higher time frame if the compelted candle shows a reversal or not.

As for the candle (or couple after the signal candle) after the signal candle, i have not spent much attention to it. I do recall thinking to my self many times that i wish i had waited to enter on the 1, 2, 3, or sometimes 4th candle after the signal candle to get a better entry due to pullback (pullup) before price moves in the continued direction. I due realize somes that i would have also missed the trade (or turn into a losser) sometimes too. The end result is a smaller stop loss. turn offs is missed the trade all together or late entry results in missing target profit and turns into a looser.


I think this topic of the candles before and after the signal candle is a great topic to discuss with others after many weeks of $$ trading experience. Anyone with value added input, I encourage those individuals to add to this latest discussion topic.

Regards,

T4L

The best signals for me are the ones where the 34sma has a clear direction up or down. Then price pops accross the 34sma and back again in the direction of the trend at the same time the 34cci pops accross the "0" line and back again in the direction of the trend.