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Trend Follower 5 Minute System

  • #1,961
  • Jul 1, 2008 11:12am Jul 1, 2008 11:12am
Greetings All:

I'm new to the Trend Follower Indicator. The attached 5-min chart is the Gold market today (July 01 2008). Been waiting for the whole day for a long setup and finally it came. Could some of the more experienced 'Trend Follower' users be so kind to comment on the long setup. Please see attached chart. ALL of the condition are satisfied except one of the conditions: Green ABOVE Red, Leguerre crossed up below surpassing 0.15, BUT MACD strictly speaking was still BELOW the zero line. Is this a VALID long and if you were in this situation, how would you handle the longs? Thank you very much for all your help in advance.

Have a good one
Jeff
Attached Image (click to enlarge)
Click to Enlarge Name: Trend Follower 07012008.jpg Size: 287 KB
~*~You are only one trade away from humility~*~
  • #1,962
  • Jul 3, 2008 6:30am Jul 3, 2008 6:30am
Quoting jharteam
Greetings All:

I'm new to the Trend Follower Indicator. The attached 5-min chart is the Gold market today (July 01 2008). Been waiting for the whole day for a long setup and finally it came. Could some of the more experienced 'Trend Follower' users be so kind to comment on the long setup. Please see attached chart. ALL of the condition are satisfied except one of the conditions: Green ABOVE Red, Leguerre crossed up below surpassing 0.15, BUT MACD strictly speaking was still BELOW the zero line. Is this a VALID long and if you were in this situation, how would you handle the longs? Thank you very much for all your help in advance.

Have a good one
Jeff
This was a nice setup on gold. In handling this situation, I would hav gone LONG once the MACD crosses above d zero line, which would hav been the next candle.
  • #1,963
  • Jul 3, 2008 9:36am Jul 3, 2008 9:36am
Today as there have been a lot of important news and I really didn’t know to go short or long. Most traders went long but I’m german, living in South America and read the economic news in my home language. So there are a lot of problems in Europe and I think a EUR long is a hard risk. Well long story short words, I was confused and said first signal will win. So 5 min before the release of the news the EA setup for 1 MIN (accidentally) gave me SELL signal and I went for it (if my dog would bark twice I would go short also, jeje). WAS A COMPLETE WINNER, over 100 pips in less than 30 min. I think it isn’t that relevant for the real function of the EA but I just want to share that experience. I will let the EA run on 1 min to see what the future results are. I’m running this system since long time and follow the signals, my real trading system is feeling and technical analyze, more than all feeling, on live account. Special thanks to TheWicker and all developers of the EA (I own you a good bottle)
  • #1,964
  • Jul 7, 2008 12:16pm Jul 7, 2008 12:16pm
I noticed not alot of people are posting any chances any more ,i think it will
be good to discuss chances togother and cancel any missunderstanding of any of the strategy rules .

Attached is a picture of 5min Frame on USD/CAD , and there is a chance as the arrow shows at the most right of the picture . Sell signal .

for me i will not go for this chance since its too close from Pivot Line .
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.gif Size: 25 KB
  • #1,965
  • Jul 8, 2008 3:43am Jul 8, 2008 3:43am
Quoting MrBad
I noticed not alot of people are posting any chances any more ,i think it will
be good to discuss chances togother and cancel any missunderstanding of any of the strategy rules .

Attached is a picture of 5min Frame on USD/CAD , and there is a chance as the arrow shows at the most right of the picture . Sell signal .

for me i will not go for this chance since its too close from Pivot Line .
Also for me the Rainbow is too wide.
  • #1,966
  • Jul 8, 2008 11:57am Jul 8, 2008 11:57am
Quoting jkiem
Also for me the Rainbow is too wide.
i dont think its that wide though ! maybe yellow is , but what really matters is red and green ... and i think even the word "wide" is not that clear , like what is too wide ? and what is too narrow ?
  • #1,967
  • Jul 9, 2008 3:50am Jul 9, 2008 3:50am
hello everybody ,
I have been using this system for some 6 months now without really following the thread here. I am looking at the EA that some nice people have done here and would like to ask if anybody would be interested in helping me in building a complex signal / EA that I would like to propose. It adds some small modifications to the system in terms of signal confirmation and it would be possible to make it work on backtest without repainting.
I don't want to put the rainbow in the system, but I have added one more MACD. Also I have come out with the same entry and exit strategy that is being mentioned here - stop on last low/high, target on pivot.

Unfortunately I don't have the time to learn the code for mq4 but i can state the conditions pretty clear and can read the code once it is written :-)

Anybody here would be interested in this?...

elmer
  • #1,968
  • Jul 9, 2008 9:27am Jul 9, 2008 9:27am
Quoting elmer
hello everybody ,
I have been using this system for some 6 months now without really following the thread here. I am looking at the EA that some nice people have done here and would like to ask if anybody would be interested in helping me in building a complex signal / EA that I would like to propose. It adds some small modifications to the system in terms of signal confirmation and it would be possible to make it work on backtest without repainting.
I don't want to put the rainbow in the system, but I have added one more MACD. Also I have come out with the same entry and exit strategy that is being mentioned here - stop on last low/high, target on pivot.

Unfortunately I don't have the time to learn the code for mq4 but i can state the conditions pretty clear and can read the code once it is written :-)

Anybody here would be interested in this?...

elmer
Hello.
Could you post some chart please?
Thank in advance.
Fxdan.
  • #1,969
  • Jul 10, 2008 7:56am Jul 10, 2008 7:56am
here you go.. but its nothing dramatic.. I just tend to rely on the three lower windows, and the rainbow is more a feelnig thing than rigorous indicator for me. anyway.. the blue vertical line shows a signal.. both MACDs are negative on signal bar and on entry bar - lag has crossed ok , and the signal was good at least to the nearest pivotline.

my signal/EA would be based on starting with the signal arrow and then checkung confirmation from both MACDs.. they must be set proprtlu for last two candels to enter and also lag must cross.. if not all of these conditions are met, no trade. seems pretty solid, but I cant code it:-)

anybody interested?

elmer
Attached Image (click to enlarge)
Click to Enlarge Name: euro1.gif Size: 43 KB
  • #1,970
  • Jul 10, 2008 10:22am Jul 10, 2008 10:22am
Quoting elmer
here you go.. but its nothing dramatic.. I just tend to rely on the three lower windows, and the rainbow is more a feelnig thing than rigorous indicator for me. anyway.. the blue vertical line shows a signal.. both MACDs are negative on signal bar and on entry bar - lag has crossed ok , and the signal was good at least to the nearest pivotline.

my signal/EA would be based on starting with the signal arrow and then checkung confirmation from both MACDs.. they must be set proprtlu for last two candels to enter and also lag must cross.. if not all of these conditions are met, no trade. seems pretty solid, but I cant code it:-)

anybody interested?

elmer
That look interesting and can you provide us of your macd indicator with setting please.
Thanks.
  • #1,971
  • Jul 11, 2008 5:13am Jul 11, 2008 5:13am
Quoting chawichsak
That look interesting and can you provide us of your macd indicator with setting please.
Thanks.

you know all the stuff there, just that last MACD is 5 13 1 and I do not claim I invented that, it comes from Philip Nell system (some people might have guessed from the colouring) I just tried it and it worked.. so thats my only addition to the system, apart form possibly more rigorous entry confirmation conditions.
  • #1,972
  • Jul 29, 2008 10:27am Jul 29, 2008 10:27am
Hi all,
I just want to know if any of u guys knows about a chat room discussing the trade with this method
thanks for help in advance
  • #1,973
  • Jul 29, 2008 2:15pm Jul 29, 2008 2:15pm
Quoting mhemam2005
Hi all,
I just want to know if any of u guys knows about a chat room discussing the trade with this method
thanks for help in advance
still waiting
  • #1,974
  • Jul 31, 2008 9:00am Jul 31, 2008 9:00am
Happy news for fellow Polish traders!

Thanks to Piotr Wojtasiak you can go over here and read the Polish version of trend follower.
  • #1,975
  • Aug 5, 2008 3:29pm Aug 5, 2008 3:29pm
Quoting e-valtrg
GBPUSD 1.8.2007
=================
http://img72.imageshack.us/img72/508...fov2dc4.th.png
=================
Explanation for Trend Follower Alert indicator v1!

ValTrg
Thanks ValTrg. I wonder if you can post the source code of this alert so that people can get a look on what your code is actually doing. It is a chance for collaboration and improvement.
  • #1,976
  • Aug 6, 2008 5:50am Aug 6, 2008 5:50am
In one of his books, Guppy described the "rainbow" that has a gap between fast MAs and the rest of them. That would be an equivalent of deleting all orange (3 sets) lines from the rainbow: simply right-click on them and choose "Delete" (make sure it's EMAs, not smth else that is selected).

The result is: much cleaner and more visible relationships between "the traders" and "the investors". Once the gap (where orange used to be) is closing, you sen instantly see that movement. I found that VERY useful. Enjoy!

P.S. Sorry TheWicker for "messing" with your system
One Chart is Worth Ten Thousand Words.
  • #1,977
  • Aug 6, 2008 4:36pm Aug 6, 2008 4:36pm
C.E.O had developed an EA for this system. In the coding he had,

"extern bool OnlyTrailAfterProfit=false";

On post #838, page 56 of this thread he made notes that this meant the "False trail starts immediately, true is a normal trail".

I understand the false. In doing so, I'm pretty much subjecting myself to at most a 15 point stop loss if trade turns against me immediately. Then once it passes 15 pips, the stop will begin to move.

Now, what would placing the setting in "true" do? When does the trail begin?
  • #1,978
  • Edited Aug 8, 2008 2:52am Aug 7, 2008 2:08pm | Edited Aug 8, 2008 2:52am
Quoting Forex007
In one of his books, Guppy described the "rainbow" that has a gap between fast MAs and the rest of them. That would be an equivalent of deleting all orange (3 sets) lines from the rainbow: simply right-click on them and choose "Delete" (make sure it's EMAs, not smth else that is selected).

The result is: much cleaner and more visible relationships between "the traders" and "the investors". Once the gap (where orange used to be) is closing, you sen instantly see that movement. I found that VERY useful. Enjoy!

P.S. Sorry TheWicker for "messing" with your system
Forex 007!
Can you tell us how did you find that is very useful if you dont have orange EMAs?? Can you select more precisely signals ? How can more visible relation between traders and investors help you to determine good signals to enter, or that help you to better and easier follow the trend?? Do you on that way make better decison when to exit? Something else?? What is that book of Guppy? Trend trading??
Thanks!
  • #1,979
  • Aug 8, 2008 6:45am Aug 8, 2008 6:45am
Quoting pilatus
Forex 007!
Can you tell us how did you find that is very useful if you dont have orange EMAs?? Can you select more precisely signals ? How can more visible relation between traders and investors help you to determine good signals to enter, or that help you to better and easier follow the trend?? Do you on that way make better decison when to exit? Something else?? What is that book of Guppy? Trend trading??
Thanks!
"Trend Trading" indeed. Entry and exits remain as per the original rules. But since I don't jump blindly into a trade just because the indicators are "nearly there", I find it usefull to check the trend on a TF above and below the one I am trending with. The "orange" gap improves just my visual perception, that's all - try it and you will see what I mean
One Chart is Worth Ten Thousand Words.
  • #1,980
  • Aug 12, 2008 1:36am Aug 12, 2008 1:36am
Quoting Forex007
"Trend Trading" indeed. Entry and exits remain as per the original rules. But since I don't jump blindly into a trade just because the indicators are "nearly there", I find it usefull to check the trend on a TF above and below the one I am trending with. The "orange" gap improves just my visual perception, that's all - try it and you will see what I mean
Thanks Forex007! But not sure that I understood you!
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