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Rainbow Squeeze

  • #41
  • Jul 31, 2008 7:27am Jul 31, 2008 7:27am
Ronald

Is it possible to have a program to go through every pair [or allow specification] looking for possible setups, and send an alert without having to attach it to every chart?
  • #42
  • Jul 31, 2008 8:51am Jul 31, 2008 8:51am
It's semi-possible.

I just need a list of the symbols involved beforehand, and a threshold value on:

  1. Minimum distance required between highest lower and lowest upper BB
  2. Minimum average distance between lines.

Alternatively, you can just add it to the charts =D

  • #43
  • Jul 31, 2008 6:07pm Jul 31, 2008 6:07pm
et phonehome 2,

The reason it is semi-possible is because, yes I'm sure you could program that, but every currency pair has its own unique pip-width BB range, and this range changes slightly over time too (i.e. seasonal). I'm a bit skeptical of a one-size-fits-all signal... however, if someone wanted to try your idea, they should go for it! (I'd suggest paper trading when experimenting).

I'm personally more interested in some type of alarm that will indicate when an entry signal *might* be brewing, so it will beep to alert me, and then I will analyze the set up to decide if it is a good time to enter. This is best for me as it allows me not to be glued to the screen, but also allows me to do my own human-review of the situation to make a decision.

regards,
piperomia
"Discipline is the key ingredient to Personal Freedom"
  • #44
  • Jul 31, 2008 6:11pm Jul 31, 2008 6:11pm
At 8-9AM EST today (July 31, 2008) there is a great example of a false signal on the CABLE.

The reason it was false, imho, is the big news that was released at 83o AM EST - US GDP. Price action shot up beyond the 4.6 deviation BB (that is, the upper most green band), which occurred after a small BB channel with a pinch.

I did not take it, as the PA spike was caused my *major* news. **If** I were to have taken it, I would at the very least set SL at R1 1.9850 rather than a few pips below the previous candle's low as typical system rules would dictate.
"Discipline is the key ingredient to Personal Freedom"
  • #45
  • Aug 2, 2008 3:11am Aug 2, 2008 3:11am
Ronald,

Why dont you just program to identify just the squeeze of the bands, then using simple EMA crossing to identify entry points, and of course paying attention to the MA line and MACD line?

This method (the squeezing of bands) - I found to be a great way to filter the EMA crossing.


Thanks PIPEROMIA for sharing this method!!
Why do people only post a nice trending period chart?
  • #46
  • Aug 2, 2008 9:02am Aug 2, 2008 9:02am
Well, how do I mathematically identify a squeeze?
  • #47
  • Aug 2, 2008 10:12am Aug 2, 2008 10:12am
This system looks like a nice breakout strategy that I would like to investigate further. I installed the template, but the BB Rainbow does not appear on my chart. I have tried to change the colors and everything, and it also does not show up in the indiactor list on the chart.

Can you please post just the BB Rainbow indicator?

Thanks in advance.....Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #48
  • Aug 2, 2008 10:21am Aug 2, 2008 10:21am
There is no BB rainbow indicator.

The indicator I posted shows distances between BBs, not the actual rainbow. The template is simply several BBs with Std dev starting at 2 and increasing 0.2 each time.
  • #49
  • Aug 2, 2008 10:23am Aug 2, 2008 10:23am
Quoting Ronald Raygun
There is no BB rainbow indicator.

The indicator I posted shows distances between BBs, not the actual rainbow. The template is simply several BBs with Std dev starting at 2 and increasing 0.2 each time.
gotcha...thanks
"Keep your eyes on the helpers" - Mr. Rogers
  • #50
  • Aug 2, 2008 10:30am Aug 2, 2008 10:30am
Quoting Ronald Raygun
There is no BB rainbow indicator.

The indicator I posted shows distances between BBs, not the actual rainbow. The template is simply several BBs with Std dev starting at 2 and increasing 0.2 each time.
hmmm...i am unable to change the standard deviations by .02m only by whole numbers.

Also, what BB is he starting with 21 or something less than that. I don't know why his template did not display them on my chart.

Could someone please repost a template with the BB on them and i can try to load that template instead?

thanks in advance
"Keep your eyes on the helpers" - Mr. Rogers
  • #51
  • Aug 2, 2008 10:46am Aug 2, 2008 10:46am
Here you go
Attached File(s)
File Type: tpl rainbow squeeze.tpl   9 KB | 673 downloads
  • #52
  • Edited 11:04am Aug 2, 2008 10:54am | Edited 11:04am
Great trading system..... let me try this out next week...

But how come the template doesn't show the rainbow BB as the chart shown on post 1 etc ???

How do I get the rainbow to appear ???
  • #53
  • Aug 2, 2008 5:09pm Aug 2, 2008 5:09pm
Quoting Ronald Raygun
Well, how do I mathematically identify a squeeze?

Oops, yeah you are right. May be if the values are going down, then moves with very little deviation for a couple of bars?

I have absolutely zero programming knowledge, sorry if i sounded stupid.

Why do people only post a nice trending period chart?
  • #54
  • Aug 2, 2008 7:10pm Aug 2, 2008 7:10pm
Quoting yuhu
Oops, yeah you are right. May be if the values are going down, then moves with very little deviation for a couple of bars?

I have absolutely zero programming knowledge, sorry if i sounded stupid.


Try attaching the indicator I posted. Use the data window to look at the values. Maybe you'll spot a pattern that I don't
  • #55
  • Aug 2, 2008 7:41pm Aug 2, 2008 7:41pm
Quoting Ronald Raygun
Try attaching the indicator I posted. Use the data window to look at the values. Maybe you'll spot a pattern that I don't

NIce indicator.
May be you can program the EA to 'get ready' when the indicator value is below 0.0025 to identify the squeezes that I mentioned earlier.

then, at the breach of the middle MA S/R and/or simple EMA crossing would determine the direction.
Why do people only post a nice trending period chart?
  • #56
  • Aug 2, 2008 10:06pm Aug 2, 2008 10:06pm
Quoting Ronald Raygun
Here you go
thanks, but i am getting the same thing. the BB rainbow does not show up. I use IBFX. anyone else having that trouble.

BTW.....Ronald, i am not sure, but my gbpusd H1 breakout may be worthy of an EA. let me know what you think. You can read about it in my journal......
"Keep your eyes on the helpers" - Mr. Rogers
  • #57
  • Aug 2, 2008 10:06pm Aug 2, 2008 10:06pm
Quoting Syahmi
Great trading system..... let me try this out next week...

But how come the template doesn't show the rainbow BB as the chart shown on post 1 etc ???

How do I get the rainbow to appear ???
same problem for me. do you use ibfx for a broker?
"Keep your eyes on the helpers" - Mr. Rogers
  • #58
  • Aug 2, 2008 10:12pm Aug 2, 2008 10:12pm
I think I know why:

The template is calling on the "Bands" indicator. (Attached)
Attached File(s)
File Type: mq4 Bands.mq4   3 KB | 586 downloads
  • #59
  • Edited 8:39am Aug 3, 2008 2:45am | Edited 8:39am
Hi RR.... thanks a lot for the Bands indi...... now I can see all the bands on my charts.... great indi.... great chart pattern as well....

Thanks a lot...

Attached is the summary from piperomia in pdf format. I just compiled the input from piperomia... that's all.... no additional input.

Thanks piperomia for a great and simple system...
Attached File(s)
File Type: pdf The Rainbow Squeeze System.pdf   215 KB | 1,022 downloads
  • #60
  • Aug 3, 2008 8:08am Aug 3, 2008 8:08am
Quoting Ronald Raygun
I think I know why:

The template is calling on the "Bands" indicator. (Attached)
that did it...thanks
"Keep your eyes on the helpers" - Mr. Rogers
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