nice but will this stand the test of time? does it work in any type of market? sideways? uptrend? downtrend?
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One mistake we traders make is thinking it is better to trade every move whenever it comes be it at midnight or at noon and that is what i figured out and decided to trade this system at the particular period when the market is at its most volatile. Also, the system has some setbacks when in a sideways or ranging market, but all that is taken care of by a single nice trend movement, so i don't have to worry myself that the market is sideways or ranging. This is my personal opinion anyway.
Chart setup: Heikin ashi
EMA 5 close
EMA 8 open
Dinapoli stoch 8-3-3
MomentumVT 10
QQE Alert Smooth Factor 1
There are two conditions for Entry.
1. Basic Entry
Buy: 5/8 ma up crossover
Dinapoli stoch bullish crossover
MomentumVT above 0 level
QQE alert pointing up
Sell: 5/8 ma down crossover
Dinapoli stoch bearish crossover
MomentumVT below 0
QQE alert pointing down
Update
As I have discovered that moving averages often react to price actions rather quickly, I decided to add a filter to my exits. Exit: Whet both QQE alert and 5/8 Ema crossover have signalled an opposite direction, then exit. They don't have to signal at the same time but you no exit must be taken until the two have signalled an exit.
2. Re-Entry
Let's say we miss a basic setup and look to entering the trade after the setup as occured, these are the conditions that must be met:
Buy: Make sure that all the indicators are going in the buy direction. Allow the dinapoli stoch to go into a sell then enter a buy when it also turns back to the buy direction. Take note of any support or resistance level or any pivot point close to the current price. Enter when the dinapoli stoch crosses over to a buy.
Sell: Opposite of buy.
Exit: Stop loss of 20 pips, OR Take profit of 20 or 30 pips. Whichever is hit first. I also use a trailing stop of 20 pips.
News.
I do not open new positions when big news is coming up. If I am already in a trade and a big news is near, I exit the trade if I have profit less than 30 pips. But if I am in a profit of more than 30 pips, I leave 20 pips out and lock in the remaining then trail my stop with a 20 pips trailing stop. That is my own personal way of handling news, other suggestions are welcome.
The purpose of this thread is to improve the strategy and also build an expert advisor. You can also add timeframe filters.
Wahnone
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Hi man!
Nice system.
I still dont get the QQE arrows with any indicator here, can someone plz send the most updated one?
and about exiting, in some of your trades you exited just when the ma's crossed like the sell exit here with no QQE aroow, how come?
Hi man!
Nice system.
I still dont get the QQE arrows with any indicator here, can someone plz send the most updated one?
and about exiting, in some of your trades you exited just when the ma's crossed like the sell exit here with no QQE aroow, how come?
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About the exit, you didn't post any charts to expantiate but i think i understand you. There are some times when the QQE alert shows up long before the MA's cross, and so, that is a valid exit signal. The 2 don't have to happen at the same time.
I have attached the QQE alert indicator.
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Joined Apr 2008
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Status: If you harken unto the voice of GOD
|253 Posts
Instead of jumping out of a trade because a big news is coming up, why not use it to your advantage since it will go either to your direction or against it. MY conclusion is that 15min prior to a big news, place a stoploss using the vegas indicator line which is nearest at that time to the current price. This will enable you exit early if the news is against you and also allow you to stay in if it goes in your favour. I have attached a sample scenario that happened on the 31st of July 2008 USDJPY...
Wahnone i just sent pm. i can't get qqe to work. i know im not the first, lol. the indicator in post #14 does work though. is this the same arrows as the qqe??? it has the arrows with popup and audible alert. same or no???
has anyone made an ea for this that works correctly? one that only trades during london and us open. other sessions don't seem to do well with this method. they are just not volitile enough
I have tried 4 different versions of the QQE alert and none of them will produce arrows. Most don't even show anything on my charts including the one posted just a bit earlier. Can anyone help as to why they are not working and explain maybe what the problem is? Also is it that necessary for this system to be using the QQE alerts? Thanks for the help.
Wahnone i just sent pm. i can't get qqe to work. i know im not the first, lol. the indicator in post #14 does work though. is this the same arrows as the qqe??? it has the arrows with popup and audible alert. same or no???
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The indicator on post 14 is different from the QQE alert. It is just an alert for the MA 5/8 cross. The qqe alert is a seperate indicator.
has anyone made an ea for this that works correctly? one that only trades during london and us open. other sessions don't seem to do well with this method. they are just not volitile enough
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An EA has been made but it isn't perfect yet especially on the exits.The system doesn't only work at the time you specified above, but most signals between 6:00 GMT and 18:00 GMT are ok. Could you help perfect the EA?
yea, i know that there are other signals out there not in london and us open but those markets move too slow and see a lot of whip saws during the slow sessions. i was just making a suggestion - trade during london and us only - and No i can't do anything with the ea. I have 0 programming experience. it is hard enough to get phone numbers in my cell phone!! I just like the idea of ea's and wish we had one for this that worked good. I have been forward testing other ea's with a fair amount of success. this would just be another weapon in the arsinal so to speak. If there are any programmers out there that could make this thing trade like its supposed to i would LOVE to see it!!! this system seems to be doing great. thanks a lot for it!!!!
oh and still cant get qqe to work. everyone seems to be having this problem anyone know how to fix it????
I have tried 4 different versions of the QQE alert and none of them will produce arrows. Most don't even show anything on my charts including the one posted just a bit earlier. Can anyone help as to why they are not working and explain maybe what the problem is? Also is it that necessary for this system to be using the QQE alerts? Thanks for the help.
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Try putting the ex.4 file in your metatrader/expert/indicator file then close down the terminal and restart it.
The QQE Alert just gives alerts for the 'QQE' indicator cross and so if you have the QQE indicator, it will work fine.
The QQE is very important to this system as it is known of moving averages to be whipsawed in ranging markets. That is where the QQE comes in. In filters out the moving average crossed and enhances the performance of the system in ranging markets. Also, remember that not there will be no exit until both indicators have changed over.
I have attached the QQE indicator below. Its cross can be used in the place of the QQE alerts.
ok i finally got my chart to look like yours with all the indicators working. i just have a few questions. look at red lines -- why no arrows there -- look at X under arrow. why would there be an arrow there??? sorry if im buggin yall but i want to get this thing right. just trying to put my 2 cents in and help out any way i can.
I really like using this method though more testing is needed on my end. It would be really great if we had an EA that would alert us when everything lined up then manually enter the trade. Can some one put this together? I really prefer to look at the trade and feel good about it before throwing some lots in the market. Thanks.
that is already done. go to post 1 download indicators. i finally got qqe to work so if you have problems with it let me know and i can probably get you on the right track. other than the qqe, everything else is a snap
