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Chandra's Indicators (with Alerts)

  • #221
  • Aug 11, 2008 3:52pm Aug 11, 2008 3:52pm
Quoting Pipinator
Hello chandra,

are you also still using the digistochs?
Hi Pipinator,

I do not use Stoch at all (though they are attached in my hourly charts). So, no digistoch also. May be I checked it out long back for couple of days and removed it (thats what I do to all the downloaded indicators!).

Regards,
chandra
  • #222
  • Aug 19, 2008 6:31am Aug 19, 2008 6:31am
Hi Chandra, good indicator, but why in my MT the two texts are in the same position?
Thank you
Onire
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  • #223
  • Aug 19, 2008 8:02pm Aug 19, 2008 8:02pm
Quoting onire
Hi Chandra, good indicator, but why in my MT the two texts are in the same position?
Thank you
Onire
Hi Onire,

Possibly you have attached two indicators (or attached one but twice with different settings?). Then you have to change the TextPosition in the Indicator Parameters for one of them. Or just delete the indicators and re-attach while monitoring what causes this problem.

Regards,
chandra
  • #224
  • Aug 20, 2008 2:44am Aug 20, 2008 2:44am
Great indicator Chandra, Many thanks.
  • #225
  • Aug 20, 2008 3:46pm Aug 20, 2008 3:46pm
Quoting achandrasekaran99
Hi Onire,

Possibly you have attached two indicators (or attached one but twice with different settings?). Then you have to change the TextPosition in the Indicator Parameters for one of them. Or just delete the indicators and re-attach while monitoring what causes this problem.

Regards,
chandra
Hi Chandra,
when I put lispa2mtf in a new chart its all ok, but if a save the same chart as a template and then a load it in an other chart there is the problem.
The initial tamplate is imran_setup.tpl and then I add your indicator.

Thank you,
Onire
  • #226
  • Aug 20, 2008 8:08pm Aug 20, 2008 8:08pm
Quoting onire
Hi Chandra,
when I put lispa2mtf in a new chart its all ok, but if a save the same chart as a template and then a load it in an other chart there is the problem.
The initial tamplate is imran_setup.tpl and then I add your indicator.

Thank you,
Onire
Hi Onire,

The bad problem with MT4 is that when you save a template, all the Objects (trendlines, vertical/horizontal lines, arrows and texts...) in that chart are also saved. So, whenever there are objects, better not to use that chart for making template (so never make template with any LISPA in it). Remove LISPA. Then delete all objects. You can go to Objects List by right-clicking on the chart and delete whatever you don't like (the old ones; click on the Names tab or Object Tab to sort them and then you can delete just only one at a time!). Then attach LISPA.

Regards,
chandra
  • #227
  • Aug 20, 2008 8:10pm Aug 20, 2008 8:10pm
Quoting CiTiFx
Great indicator Chandra, Many thanks.
Hi CitiFX,

Good to know that you like this histogram display.

Regards,
chandra
  • #228
  • Aug 26, 2008 4:41am Aug 26, 2008 4:41am
Or you can keep the LISPA saved with your template with the VerticalLineWidth set to = 0. then paste the number 1,2 or whatever you use for the line thickness into that field for each of the charts. The correct lines will show up. The indicator value displayed at the top of the screen i.e. BUY2 [10:45] that may be incorrect can simply be deleted by double clicking on it, followed by right click and selecting delete. Wait a few seconds and the correct time will then be displayed. This should help if you have altered a lot of the default settings such as MACD, line colour etc.

Quoting achandrasekaran99
Hi Onire,

The bad problem with MT4 is that when you save a template, all the Objects (trendlines, vertical/horizontal lines, arrows and texts...) in that chart are also saved. So, whenever there are objects, better not to use that chart for making template (so never make template with any LISPA in it). Remove LISPA. Then delete all objects. You can go to Objects List by right-clicking on the chart and delete whatever you don't like (the old ones; click on the Names tab or Object Tab to sort them and then you can delete just only one at a time!). Then attach LISPA.

Regards,
chandra
  • #229
  • Aug 29, 2008 4:39pm Aug 29, 2008 4:39pm
Thanks Chandra for all your indicators. I especially like the ones with alerts.

I have a question that has been bothering me for quite awhile. Since you are familiar with Imran's system from the very beginning I though you would know the definitive answer.

A FF member posted before that Imran's lag system eventually fails and late last year the member's account was blown out by Imran managing it. He said that's why Imran changed his strategy to averaging/scaling in his trades (this I know to be true).

What I don't understand is Imran was having great success with his lag system in his thread. I recall he said he averaged 150+ pips/day and he had a high 90%+ win rate while using a fixed SL. He said it worked well in both trending and ranging periods. So it seems like a very safe system with a losing day being a rarity. Imran is a smart guy very knowledgeable about forex and it's risks. So why would he change from his low risk/high return strategy to a riskier strategy with no SL unless he had a very good reason.

The big question: Could there be a fatal flaw in Imran's lag system that can unexpectedly blow out your account at some point during the year (perhaps Nov/Dec when Imran blew out that member's account)?

Or is the lag system something we can dependably use to trade year around without fear of a big loss or long losing streak?

Chandra, I really would like your opinion about this. If you prefer to PM me your answer I will keep it 100% confidential and guarantee not to repost it.

Thank you.

A777
  • #230
  • Aug 31, 2008 2:38pm Aug 31, 2008 2:38pm
Hi A777,

Here itself I will write what I know (which is not much). I am not in touch with Imran or anybody for a long time; though a few times I had email contact with two earlier active members, I never talked anything about the pooled account (I only read it here on FF). So, I do not know what happened. But I am sure it has nothing to do with the system. Most likely, the winnings gave Imran over-confidence and made him violate some most important basic rules of trading (on money management and averaging-down). If a single trade is involved using maximum money and 100 leverage, it has to make 100 pips loss before busting an account! 100 pips loss is not part of the system. Sometimes I also do, but I do it in smaller lots and it does not hurt that much when the averaged positions go bad. The danger of Martingale or semi-martingale, I suppose.

I don't think there is anything wrong with the method. Only few changes I would like to suggest:
1. The main condition I wrote long back is that use the signals ONLY after Consolidation Breakout or Curved Reversal (and double-top/double-bottom??). [This will force us to avoid trading in sideways market, choppy market, sharp reversals; unfortunately I cannot code a filter for that!!!]. As long as that is followed, it will be a successful system, even with just one Lag (Red is better I think).
2. After the singal with these two setups, the price must break further in the right direction (or after a correction a better entry can be used, if the indicator is still moving in the original direction). Or Yas1r method can be used: going to 1M chart and waiting for a correction+continuation using the blue or red Lag there ( http://www.forexfactory.com/showpost...postcount=6470 ).
3. No fixed SL. The SL has to be based on recent price levels (if it is too much for comfort, we HAVE to ignore that trade).
4. There is never adding more lots to losing situations (it is not part of the system anyway).

These conditions will make many systems work well. But the Lag will keep in trends longer that most other indicators. Currently I am busy and not trading much. But still working on finding simple controls to reduce losing trades, while able to catch big moves. This is the simplest so far I have come, but involves manual filtering. No other indicator is needed/useful! Lot of patience is needed. When we see a 100 or 200 pip move going without us, it is quite tempting to enter next time even without these setups, even worse if the move happens after kicking us out at our SL. Thats where the patience comes. Further simplification I am checking is to use a single Lag and the midpoint cross (above midpoint, look for longs only; below midpoint, look for shorts only. Can do the entries in next lower TF chart possibly. Seems simpler, but still the above conditions must be followed and so can't be automated!).

Hope this gives some ideas of what to look for.

Regards,
chandra
  • #231
  • Sep 4, 2008 5:21pm Sep 4, 2008 5:21pm
Hello Chandra...I am just discovering this trading system and all the indicators, but would like to ask your help. I see so many updates, revisions, etc., I'm not sure which indicators to use.

Could you PM me (or respond in a post here) a list of the indicators I ought to be using if starting at this point (i.e. the latest updates, etc.)? I do have Imran's setup template which has what I need I suppose, but you have obviously added many things/updates since that was originally created, and I'd like to have the latest refinements if possible.

Thank you for your work on this and for sharing it
  • #232
  • Sep 5, 2008 6:55pm Sep 5, 2008 6:55pm
Quoting achandrasekaran99
Hi A777,

Here itself I will write what I know (which is not much). I am not in touch with Imran or anybody for a long time; though a few times I had email contact with two earlier active members, I never talked anything about the pooled account (I only read it here on FF). So, I do not know what happened. But I am sure it has nothing to do with the system. Most likely, the winnings gave Imran over-confidence and made him violate some most important basic rules of trading (on money management and averaging-down). If a single trade is involved using maximum money and 100 leverage, it has to make 100 pips loss before busting an account! 100 pips loss is not part of the system. Sometimes I also do, but I do it in smaller lots and it does not hurt that much when the averaged positions go bad. The danger of Martingale or semi-martingale, I suppose.

I don't think there is anything wrong with the method. Only few changes I would like to suggest:
1. The main condition I wrote long back is that use the signals ONLY after Consolidation Breakout or Curved Reversal (and double-top/double-bottom??). [This will force us to avoid trading in sideways market, choppy market, sharp reversals; unfortunately I cannot code a filter for that!!!]. As long as that is followed, it will be a successful system, even with just one Lag (Red is better I think).
2. After the singal with these two setups, the price must break further in the right direction (or after a correction a better entry can be used, if the indicator is still moving in the original direction). Or Yas1r method can be used: going to 1M chart and waiting for a correction+continuation using the blue or red Lag there ( http://www.forexfactory.com/showpost...postcount=6470 ).
3. No fixed SL. The SL has to be based on recent price levels (if it is too much for comfort, we HAVE to ignore that trade).
4. There is never adding more lots to losing situations (it is not part of the system anyway).

These conditions will make many systems work well. But the Lag will keep in trends longer that most other indicators. Currently I am busy and not trading much. But still working on finding simple controls to reduce losing trades, while able to catch big moves. This is the simplest so far I have come, but involves manual filtering. No other indicator is needed/useful! Lot of patience is needed. When we see a 100 or 200 pip move going without us, it is quite tempting to enter next time even without these setups, even worse if the move happens after kicking us out at our SL. Thats where the patience comes. Further simplification I am checking is to use a single Lag and the midpoint cross (above midpoint, look for longs only; below midpoint, look for shorts only. Can do the entries in next lower TF chart possibly. Seems simpler, but still the above conditions must be followed and so can't be automated!).

Hope this gives some ideas of what to look for.

Regards,
chandra

Chandra,

Thank you very much for your comments. Imran's system seems like the best scalping method from what others have written about their success though it does require discretion.

A777
  • #233
  • Edited 9:49pm Sep 5, 2008 9:34pm | Edited 9:49pm
Quoting TC East
Hello Chandra...I am just discovering this trading system and all the indicators, but would like to ask your help. I see so many updates, revisions, etc., I'm not sure which indicators to use.

Could you PM me (or respond in a post here) a list of the indicators I ought to be using if starting at this point (i.e. the latest updates, etc.)? I do have Imran's setup template which has what I need I suppose, but you have obviously added many things/updates since that was originally created, and I'd like to have the latest refinements if possible.

Thank you for your work on this and for sharing it
Hi TC East,

You will need the following indicators (get them or their links from first post):
1. Laguerre-ACS1.ex4
2. LISPA2MTF.ex4 or LISPA1MTF.ex4
3. Chandra-SAS5.ex4 (optional)

Thats all. I don't like templates (they bring unwanted stuff in to the chart).

Default Chandra-SAS5 will show 60-200 EMA-cross direction. Many use this as main trend direction. It has many other options which can be used if you want to explore other ideas. I do not use this indicator (for current direction, I visually check the slopes of 8,17-EMA in 15M or 25,50-EMA in 5M or 60,125-EMA in 1M; I may not follow them too strictly!).

LISPA2MTF and LISPA1MTF both need Laguerre-ACS1.

1. Just attach the LISPA2MTF or LISPA1MTF to your chart.
2. When a signal comes, verify whether there is a good Price Pattern. If you take all the signals, you WILL LOSE!!!
3. Only then you can look for entry after a recent price range is broken (use atleast the recent few bars (4-10 bars!).
4. It is also good to trade only in the direction of Lags(gamma=0.6 & 0.8). If boths Lags are above mid-point, take Long only and if they are below mid-point, take Short only (if they are mixed, wait). You can try that even in 1M chart. If you want to use this, use LISPA1MTF and change the following Input Parameter to "true": "UseLaguerre2Filter=true". Optional EMA-slope filter can be used. LISPA1MTF is in my other thread.
http://www.forexfactory.com/showpost...29&postcount=1
5. SL should be based on recent High/Low levels + some pips (Spread pips?). If it is too much, ignore that signal and wait.
6. Take partial profits at nearby Support or Resistance levels (Based on recent Highs or Lows) and let the remaining position run with Lags. Adjust the SL to BE or make use of the earlier profit to give more room than BE but without eventual loss. If you take 20 pips partial profit, you can be willing to sacrifice a portion of it, if there is a good S/R level to use as safe SL for the remaining position.

The good Price Patterns are (first two are checked to be great):
1. Consolidation Breakout (TrendLines will help here).
2. Curved Reversal (also called Rounding Top/Bottom) (not Sharp Reversal, which is risky late entry).
3. Possibly Double-Top and Double-Bottom (Head&Shoulder too).
4. May be Cup&Handle pattern also.
5. And there may be Triangle, Pennent, Flag...
6. AVOID: Sharp Reversals, Choppy/Sideways Market. These are the patterns that give most losses. If you avoid these as much as possible, you will win good. Sorry that I am not able to make automated filters for these in my indicators.

If you want to learn more about Price Patterns or Technical Analysis in general, you can visit http://stockcharts.com (go to Chart School Tab and look for Chart Patterns, which is where I learnt most of my TA for free; that is for stocks, but general idea is the same). You can also visit http://www.babypips.com (go to School Tab and go to 7th grade!).

I hope this summarizes what I have come to consider as condensed form of rules. Probably all these will make this post as a strategy. But as long as you can recognize the price patterns, then many indicators (various options in Chandra-SAS5 also) can be used as good signals. But Lags keep you longer in trades than other indicators.

Regards,
chandra
  • #234
  • Sep 6, 2008 6:53pm Sep 6, 2008 6:53pm
Thank you Chandra...that's great; and I appreciate you taking the time to put all of this together and explain it. I will test the strategy along the lines you describe and get a feel for it...

Best wishes!
TC
  • #235
  • Sep 13, 2008 5:45am Sep 13, 2008 5:45am
Hello Chandra......

I am having an EA made the uses one of the lines from your Laguerre3-ACS1 indicator.

Is it possible to get the souce code from you?

I am willing to either....

1. Pay you a small price for it or
2. Offer you a copy of the EA when I am finished for you own personal use.

Please let me know your thoughts

Thanks in advance.....Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #236
  • Edited Sep 15, 2008 6:02am Sep 14, 2008 9:35pm | Edited Sep 15, 2008 6:02am
Quoting damonl
Hello Chandra......

I am having an EA made the uses one of the lines from your Laguerre3-ACS1 indicator.

Is it possible to get the souce code from you?

I am willing to either....

1. Pay you a small price for it or
2. Offer you a copy of the EA when I am finished for you own personal use.

Please let me know your thoughts

Thanks in advance.....Damon
Hi Damonl,

Glad to see that you like my indicator. Please check your PM.

Regards,
chandra

EDIT:
As far as I can think, there is no need to use any program other than Laguerre-ACS1 in any EA. This is my main program for almost all Laguerre related indicators/calculations. Within EA indicators are toooo easy to use without any timeframe restrictions. Just use the following lines of code:
Lag1 = iCustom(Symbol(), TF1, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);
Lag2 = iCustom(Symbol(), TF2, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);
Lag3 = iCustom(Symbol(), TF3, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);

You can use any TF, any gamma, any Bar and any number of times this line can be added. The source code for any indi is generally not needed, but even the source code is available for my main Laguerre-ACS1 in the previous page. This is better than my old Laguerre3-ACS (if I rewrite it, I will write using this three simple lines!). So, you can get all the needed codes from here already. Good Luck with your EA.

Regards,
chandra
  • #237
  • Sep 15, 2008 4:48pm Sep 15, 2008 4:48pm
Quoting achandrasekaran99
Hi Damonl,

Glad to see that you like my indicator. Please check your PM.

Regards,
chandra

EDIT:
As far as I can think, there is no need to use any program other than Laguerre-ACS1 in any EA. This is my main program for almost all Laguerre related indicators/calculations. Within EA indicators are toooo easy to use without any timeframe restrictions. Just use the following lines of code:
Lag1 = iCustom(Symbol(), TF1, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);
Lag2 = iCustom(Symbol(), TF2, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);
Lag3 = iCustom(Symbol(), TF3, "Laguerre-ACS1", gamma, 200, 2, 0, Bar);

You can use any TF, any gamma, any Bar and any number of times this line can be added. The source code for any indi is generally not needed, but even the source code is available for my main Laguerre-ACS1 in the previous page. This is better than my old Laguerre3-ACS (if I rewrite it, I will write using this three simple lines!). So, you can get all the needed codes from here already. Good Luck with your EA.

Regards,
chandra
Hey Chandra....

Thanks. After playing around with the Laguerre-ASC1 for a while I found a setting that was suitable for my needs. I think that it will work out fine.

Thanks again....Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #238
  • Sep 17, 2008 5:06am Sep 17, 2008 5:06am
Hi Chandra

Using the Lag Histo, its great. However when you place higher timeframe LagHistos on the chart , the lags go flat after a few minutes, is there anyway you can rectify this.

Regards

Citi
  • #239
  • Sep 17, 2008 6:12pm Sep 17, 2008 6:12pm
Quoting CiTiFx
Hi Chandra

Using the Lag Histo, its great. However when you place higher timeframe LagHistos on the chart , the lags go flat after a few minutes, is there anyway you can rectify this.

Regards

Citi
Hi Citi,

I attached it to 1M chart with 5M setting and let it run for more than an hour. The histogram is perfect, but the Lag lines are mess. But I did not see anything going flat. Can you check your number of bars on that chart and the Maximum set on Options? I get bad problems when the chart accumlates more Bars than the limit set in the Options menu (first it shows up in 1M charts). But, I am not sure if that caused the problem. I have to look into the lines problem!

Regards,
chandra
  • #240
  • Oct 11, 2008 10:31pm Oct 11, 2008 10:31pm
Hey chandra how are you I was wondering if you you have come across the level stop reverse in a multi time frame or can youprogram on to work on a multi time frame enviroment for me

thanks
lite
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