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Powerful 1 Min Scalping System (Fx Prime)

  • #621
  • Oct 17, 2008 8:39am Oct 17, 2008 8:39am
Quoting stevewide
Seems to me the slope of the CCI's helps determine if price is more likely to cross S/R when it tests it. Sometimes it bounces but cci 170 doesn't go up with a wide angled slope and turns back into trend; that's a good sign that price may continue...

Trading is hard....lol

Steve
Can you post a few examples?
  • #622
  • Oct 17, 2008 8:49am Oct 17, 2008 8:49am
Hi Guys.

1st trade using this system.

Did not go in with a -10SL but a -15SL or I would have been stopped out.

Set the tp just under the pivot point and it worked well.

Was this an ok trade according to the system?

Cheers,

Dean
Attached Image (click to enlarge)
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  • #623
  • Oct 17, 2008 8:55am Oct 17, 2008 8:55am
Quoting deang001
Hi Guys.

1st trade using this system.

Did not go in with a -10SL but a -15SL or I would have been stopped out.

Set the tp just under the pivot point and it worked well.

Was this an ok trade according to the system?

Cheers,

Dean
Perfect trade my friend!

What I love about that trade is the blue squeeze on the wcci see how it broke out right after the squeeze its perfect!
  • #624
  • Oct 17, 2008 9:04am Oct 17, 2008 9:04am
When you see the squeeze on the cci there its a WATCH OUT zone... dont take signals until it breaks...

I think this is one of the best way to avoid false signals... wait for the breakout... the blue on there is great for saying HEY this is a consolidation zone im gona breakout soon!
  • #625
  • Oct 17, 2008 9:07am Oct 17, 2008 9:07am
Quoting Canadian_Dud
When you see the squeeze on the cci there its a WATCH OUT zone... dont take signals until it breaks...

I think this is one of the best way to avoid false signals... wait for the breakout... the blue on there is great for saying HEY this is a consolidation zone im gona breakout soon!
Cheers for that. I was wondering what the blue was.

Would you have got out of that trade like I did around the pivot or wait for the exit signal?
  • #626
  • Oct 17, 2008 9:11am Oct 17, 2008 9:11am
Quoting mikep
Hi CD - I'm not all that good at programming but I modified an old indicator to suit your rules with one exception - not only will it monitor when the 34CCI crosses in the direction of the 170CCI, but it will also give me an alert when the 170CCI crosses in line with the 34CCI. And in both cases the RSI has to be on the correct side. I added the second just to give a preliminary warning of a major trend change.

However, it won't place arrows on the chart but it will give an audio alert when all the conditions line up. Since it is a seperate window I just squish it up so I can't see what it draws - to me that's irrelevant since I have the other indicators up there anyway.

In any case I'll attach my template just so you see what I mean.

As a side note, when the alert goes off, I'll check the chart and sometimes I'll wait for a second candle in the direction of the trend which helps against immediate whipsaws (after checking for S/R, fibs, etc.)

- and by the way, it's normal for the alert to go off once you apply it to the chart or have it on the chart and restart metatrader. It's not a \"valid\" signal, just think of it as the indicator is warming up to monitor the charts.

ok this will be enough for me However once i put the EA in the /expert advisor folder and try to apply on your template nothing happens In other words it is not possible to attach it to your template. any suggestion?

thanks
  • #627
  • Oct 17, 2008 9:11am Oct 17, 2008 9:11am
Quoting Canadian_Dud
When you see the squeeze on the cci there its a WATCH OUT zone... dont take signals until it breaks...

I think this is one of the best way to avoid false signals... wait for the breakout... the blue on there is great for saying HEY this is a consolidation zone im gona breakout soon!
Dud, you can see the price was still in consolidation for 3 mins after the first break before the second break but the CCI turned green and rsi>55 during that consolidation. should we take the trade there or wait for the second break of the price(above 1.3436)?
  • #628
  • Oct 17, 2008 9:16am Oct 17, 2008 9:16am
Quoting freemenn
ok this will be enough for me However once i put the EA in the /expert advisor folder and try to apply on your template nothing happens In other words it is not possible to attach it to your template. any suggestion?

thanks

It's an indicator, not an expert - it has to go into the indicator sub folder. Once there, it'll work.
  • #629
  • Oct 17, 2008 9:17am Oct 17, 2008 9:17am
yes me too around the pivot, near +20 pips.
  • #630
  • Oct 17, 2008 9:18am Oct 17, 2008 9:18am
Hi Canadian Dude

Thanks for sharing your system

U are right regarding the fib and pivot levels, they seem important. I prefer to exit once a level gets hit. Im also experimenting with the rsi crossing back as an alternative exit. I think its best to focus on one pair only and know it inside out. Watch the price action as well, there's not really a point in entering a trade if the price is going nowhere.

Cheers!
  • #631
  • Oct 17, 2008 9:24am Oct 17, 2008 9:24am
This is my observation and not based on any thing else....

First green line cci slope is up as price starts to test and eventually break the Daily Pivot.

Second green line cci slope is still up and price breaks the 5pm EDT daily open (white dotted hortizontal line). It took a while to get an open above it.

Third green line cci slope is up and price breaks the 618 fib.

Finally fourth green line cci slope is up as it touches Weekly Pivot but price cannot open above it.

I call a break as a close, and then an open, above the support/resistance.

Please teach me more than this. Sometimes this doesn't predict what happens next.

Thanks for any observations you might post in reaction to this.

Steve
Attached Image (click to enlarge)
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  • #632
  • Oct 17, 2008 9:24am Oct 17, 2008 9:24am
Quoting Canadian_Dud
When you see the squeeze on the cci there its a WATCH OUT zone... dont take signals until it breaks...

I think this is one of the best way to avoid false signals... wait for the breakout... the blue on there is great for saying HEY this is a consolidation zone im gona breakout soon!
Thanks for clarifying that, I was wondering about the blue as well.
  • #633
  • Oct 17, 2008 9:30am Oct 17, 2008 9:30am
Quoting stevewide
This is my observation and not based on any thing else....

First green line cci slope is up as price starts to test and eventually break the Daily Pivot.

Second green line cci slope is still up and price breaks the 5pm EDT daily open (white dotted hortizontal line). It took a while to get an open above it.

Third green line cci slope is up and price breaks the 618 fib.

Finally fourth green line cci slope is up as it touches Weekly Pivot but price cannot open above it.

I call a break as a close, and then an open, above the support/resistance.

Please teach me more than this. Sometimes this doesn't predict what happens next.

Thanks for any observations you might post in reaction to this.

Steve
Well you did have divergence there... and as well you dont always have to take the trade EXACTLY when the cci crosses give it a few seconds to start moving... maybe give it a few bars to see if it breaks
  • #634
  • Oct 17, 2008 9:33am Oct 17, 2008 9:33am
Quoting stevewide
This is my observation and not based on any thing else....

First green line cci slope is up as price starts to test and eventually break the Daily Pivot.

Second green line cci slope is still up and price breaks the 5pm EDT daily open (white dotted hortizontal line). It took a while to get an open above it.

Third green line cci slope is up and price breaks the 618 fib.

Finally fourth green line cci slope is up as it touches Weekly Pivot but price cannot open above it.

I call a break as a close, and then an open, above the support/resistance.

Please teach me more than this. Sometimes this doesn't predict what happens next.

Thanks for any observations you might post in reaction to this.

Steve
As you can see as well that move right after that after the blue squeeze was worth 60 pips cha ching!
  • #635
  • Oct 17, 2008 9:37am Oct 17, 2008 9:37am
yes; I only got 16 of them though since I didn't enter till cci 34 closed past the zero line and exited when price stalled at the 5pm daily open...fooling me into thinking the move was over.

Steve
  • #636
  • Oct 17, 2008 9:37am Oct 17, 2008 9:37am
Hi Dude,

Could you please post this indicator. Somehow I missed it as it was not included in your tremplate.

Thanks in advance.
  • #637
  • Oct 17, 2008 9:38am Oct 17, 2008 9:38am
its a commercially sold inidcator so CD removed it suggesting to use an ema crossover intead. I don't use either one any more as the rest of the indicators seem to work well for me.
  • #638
  • Oct 17, 2008 9:41am Oct 17, 2008 9:41am
Was this last set up an entry? It would have been stopped out pretty quickly.

I know it was around the fib point but the last long i took was also.
Attached Image (click to enlarge)
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  • #639
  • Oct 17, 2008 9:41am Oct 17, 2008 9:41am
very nice observations, that may take us to trade the maximum profit the cd system, right now i see a short but i will not take it at 1.3418 because its right at a fibo level.
  • #640
  • Oct 17, 2008 9:45am Oct 17, 2008 9:45am
Quoting deang001
Was this last set up an entry? It would have been stopped out pretty quickly.

I know it was around the fib point but the last long i took was also.

YES AND NO you are RIGHT on a support zone wait for it to break before taking trade...

See how the last 2-3 bars weren able to break it...
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