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Dollie's Safe Pips Indicator

  • #881
  • Aug 13, 2008 11:18am Aug 13, 2008 11:18am
I'm going to test it with the cable but i won't be able to do this until Friday. For the cable i'll use parameters of 135 take profit with a 90 pip stop loss. Then maybe someone will be able to build an EA for this method. Where the stochs are in oversold or overbought and starting to turn and then a cross of the rsi through the absolute strength indicator. Then enter at the beginning of the next candle. There's not a whole bunch of signals but they're very high probability. Only winning half the time would make you profit but it does much better than this. I 'll back test cable, aussie and eur/jpy they'll all have different parameters as they all have different ranges. 4 pairs that trend nicely. Paris
  • #882
  • Aug 13, 2008 11:33am Aug 13, 2008 11:33am
What's nice about the dolly indicator is it get rid of alot of false moves and fake outs that the stochatics often gives. When both are aligned with stochs in oversold/bouught and then a cross with the dolly indicator it gives a solid signal. Unlike if you were just using stochs where you'd get faked out quite often. Both work in harmony beautifully. Paris
  • #883
  • Aug 13, 2008 12:54pm Aug 13, 2008 12:54pm
Another suggestion is if you don't want to use the 150 ema you can just check the daily time frame to see the long term direction and just take trades in that direction. If the market has been ranging you can either take no trades at this time or just go for a smaller take profit such as 50 or 60 pips until the market starts trending again. I made a quick glance on the aud/usd and the results were very good winning at least 2 out of 3 trades recently with a 135 pip take profit and 90 pip stop loss. With the parameters and rules of the stochs and dollie indicator. I've bought countless courses and ebooks and trading videos etc. and this method with the dolly and stochastics beats them all for consistent profit. Looks very promising. Paris
  • #884
  • Edited 1:10pm Aug 14, 2008 11:26am | Edited 1:10pm
Quoting Paris Hilton
What's nice about the dolly indicator is it get rid of alot of false moves and fake outs that the stochatics often gives. When both are aligned with stochs in oversold/bouught and then a cross with the dolly indicator it gives a solid signal. Unlike if you were just using stochs where you'd get faked out quite often. Both work in harmony beautifully. Paris
Thank you very much for sharing, Paris!
I will definitely give it a shot.
But there is also a query in my mind
How do you deal with the shifting nature of the LCMA...or it could just be ignored?
For the Dollie RSI, so if 150EMA is up and it goes oversold, we buy? This is like really rare occurrence isn't it?

Also, as a side comment, I am looking into the BBSqueez indicator from here.
http://www.forexfactory.com/showpost...&postcount=503
Seems like if there are red bar/ blue bar (breakout from BBand Squeez) If Dollie gives the signal as well, the trade seems pretty safe. Just an initial observation.

Thanks again. Hope I can be as successful as you are


Houston
ps I have some EA programming exp. for another platform, once I get familiar with MQL and figure dollie w/stoch out, i will try my best...
Happy Trading! Houston
  • #885
  • Aug 14, 2008 2:47pm Aug 14, 2008 2:47pm
Quoting houstonn
Thank you very much for sharing, Paris!
I will definitely give it a shot.
But there is also a query in my mind
How do you deal with the shifting nature of the LCMA...or it could just be ignored?
For the Dollie RSI, so if 150EMA is up and it goes oversold, we buy? This is like really rare occurrence isn't it?

Also, as a side comment, I am looking into the BBSqueez indicator from here.
http://www.forexfactory.com/showpost...&postcount=503
Seems like if there are red bar/ blue bar (breakout from BBand Squeez) If Dollie gives the signal as well, the trade seems pretty safe. Just an initial observation.

Thanks again. Hope I can be as successful as you are


Houston
ps I have some EA programming exp. for another platform, once I get familiar with MQL and figure dollie w/stoch out, i will try my best...

You can try it without the 150 ema and it seems to work well with more signals. I noticed that especially with the cable as it was ranging alot more and the ema would of stood in the way of many winning trades. I'll check out the BB sqeeze indicator. I don't use the lcma indicator. I don't see any useful purpose and it lags.Thanks, Paris
  • #886
  • Aug 14, 2008 3:18pm Aug 14, 2008 3:18pm
Well bollinger squeese aint it. It failed miserably and lags way too much. The stochs with the dolly work much better. Just did some back testing and it was lousy. Sorry. Paris
  • #887
  • Aug 14, 2008 4:22pm Aug 14, 2008 4:22pm
Sorry...how do you overlay indicators in one window??

I try dragging from the indicator list, from the custom indicator insert drop down, etc I cant get an indicator to overlay over another. How do I do it in MT4. Thanks!
  • #888
  • Aug 14, 2008 4:51pm Aug 14, 2008 4:51pm
Quoting golden1
Sorry...how do you overlay indicators in one window??

I try dragging from the indicator list, from the custom indicator insert drop down, etc I cant get an indicator to overlay over another. How do I do it in MT4. Thanks!
I have the stochs and dolly indicator in separate windows. Just drop each indicator in the same window when setting up dolly. I use the dolly template v2 and everything i need is in there.
As for the 150 ema a good rule is when the ema is rising only take long trades. When the ema's is declining only take shorts. When the ema is mainly flat you can take trades in either direction as long as you have a valid signal on dolly and the stochs. This works well. Paris
  • #889
  • Aug 14, 2008 7:50pm Aug 14, 2008 7:50pm
Quoting golden1
Sorry...how do you overlay indicators in one window??

I try dragging from the indicator list, from the custom indicator insert drop down, etc I cant get an indicator to overlay over another. How do I do it in MT4. Thanks!
Also download the template from the previous post and store in your MT folder. Save you boat load of trouble
Happy Trading! Houston
  • #890
  • Aug 14, 2008 10:44pm Aug 14, 2008 10:44pm
Does it? You have every single trade possible since the beginning of global markets? Do you guarantee it won't lose 31% of the time? I get tired of the stupid baseless claims (probably derived from 10 trades)

Quoting Paris Hilton
It wins 70% of the time.
  • #891
  • Aug 14, 2008 10:55pm Aug 14, 2008 10:55pm
Quoting tdion
Does it? You have every single trade possible since the beginning of global markets? Do you guarantee it won't lose 31% of the time? I get tired of the stupid baseless claims (probably derived from 10 trades)
Then you should stop coming to this forum if you don't want to hear facts. It's obvious you are a struggling trader with a diminishing trading account. If you have nothing constructive to add stay far away from this thread. We don't need you.
  • #892
  • Aug 15, 2008 2:43am Aug 15, 2008 2:43am
Quoting Paris Hilton
I'm going to test it with the cable but i won't be able to do this until Friday. For the cable i'll use parameters of 135 take profit with a 90 pip stop loss. Then maybe someone will be able to build an EA for this method. Where the stochs are in oversold or overbought and starting to turn and then a cross of the rsi through the absolute strength indicator. Then enter at the beginning of the next candle. There's not a whole bunch of signals but they're very high probability. Only winning half the time would make you profit but it does much better than this. I 'll back test cable, aussie and eur/jpy they'll all have different parameters as they all have different ranges. 4 pairs that trend nicely. Paris
Paris,
Love to know your view/result on cable when you are done
I still can't quite tell how the cross get you away from bad bad trades because there are quite a few crossing around the overbought/sold area sometime before it actually starts the other way round.
How do you confirm that the cross is actually something big? Now that there is no LSMA at the middle... Do you use the CCI entering the zone as a guideline?

Thank you very much
Happy Trading! Houston
  • #893
  • Edited 5:45am Aug 15, 2008 5:29am | Edited 5:45am
So far, I am liking how dollie-stoch is working on E/Y on H4.
Many times when the stoch exits the the oversold zone(with slow and fast line diverging), while at the same time RSI/CCI crosses sharply with ASI. It's a good long opportunity...
Am I decoding this correctly, Paris?
Seems like it's kinda hard to tell when it comes to short because dollie rarely spread big and wide like Lond trades do. Any tips on catching shorts?

Thanks for pointing me in the right direction!
Happy Trading! Houston
  • #894
  • Aug 15, 2008 8:09am Aug 15, 2008 8:09am
Quoting houstonn
Paris,
Love to know your view/result on cable when you are done
I still can't quite tell how the cross get you away from bad bad trades because there are quite a few crossing around the overbought/sold area sometime before it actually starts the other way round.
How do you confirm that the cross is actually something big? Now that there is no LSMA at the middle... Do you use the CCI entering the zone as a guideline?

Thank you very much

The cci should be around zero or below zero for shorts and on or above zero for longs. As far as the stochs, I look for them to at least touch the 80/20 zone and if it goes into that area all the better. Then when they just start to turn or cross with each other i'll look for a confirmation signal with the dolly indicator. Sometimes the signal from dolly doesn't come until stochs are already moving a ways down/up but i use dolly as the trigger after the stochs touch or go into over sold/bought. Paris
  • #895
  • Aug 15, 2008 8:15am Aug 15, 2008 8:15am
Thanks Paris
Think i need to observe the occurrence a little longer to get a feel of the action
Happy Trading! Houston
  • #896
  • Aug 15, 2008 8:38am Aug 15, 2008 8:38am
Totally wish I caught this HUGH H4 Cable sell signal on Dollie-Stoch!
1000pips! Seriously doubt I have the stomach to hold on for the whole run
Attached Image (click to enlarge)
Click to Enlarge Name: Cable-biggest-sell.png Size: 42 KB
Happy Trading! Houston
  • #897
  • Aug 15, 2008 10:14am Aug 15, 2008 10:14am
Quoting houstonn
Totally wish I caught this HUGH H4 Cable sell signal on Dollie-Stoch!
1000pips! Seriously doubt I have the stomach to hold on for the whole run
I just got done scalping 13 pips on the eur/jpy on the 5 min! Yeah, I like the long term time frames too. Just got to figure out take profit and stop loss parameters for 4 hr and daily.
  • #898
  • Aug 15, 2008 10:49am Aug 15, 2008 10:49am
Paris,
When you scalp, how much higher TF you use to gauge the overall trend? All the way up to H4?

I remember you mentioning guppy for scalping. Do you trade only when guppy opens up? Or is there any criteria you look at as well
Happy Trading! Houston
  • #899
  • Aug 15, 2008 2:43pm Aug 15, 2008 2:43pm
Quoting houstonn
Paris,
When you scalp, how much higher TF you use to gauge the overall trend? All the way up to H4?

I remember you mentioning guppy for scalping. Do you trade only when guppy opens up? Or is there any criteria you look at as well
I don't look at other time frames when scalping on 5 min time frame just the 150 ema. I use the guppy very much when scalping and yes only when it opens up. Then on the retracement with stochs and dolly giving signal. The only thing i don't like about scalping is the risk to reward ratio. You're forced to win at least 2 out of 3 . I use a 15 pip stop plus spread and go for 10-15 pips take profit. So today I got 13 and 10 on eur/jpy and 10 on eur/usd. 3 winners for 3 today. On the 15 min time frame i go for about 30 pips with stop the same so a 1 to 1 risk to reward. I need more ideas for the 5 min time frame. a 10 pip stop loss just isn't enough. Paris
  • #900
  • Aug 15, 2008 3:11pm Aug 15, 2008 3:11pm
I use this gmma for my guppy plus i add a 20 ema and 30 ema with thicker lines to complete the guppy.
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