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Trend Follower 5 Minute System

  • #2,241
  • Edited 11:07am Oct 19, 2008 10:50am | Edited 11:07am
Where can i find the Expert Advisor who makes autmoated orders?
  • #2,242
  • Oct 19, 2008 2:08pm Oct 19, 2008 2:08pm
Quoting ByerRA
Hello.

First, I would like to thank Wicker for the simply wonderful system.

After spending time reading everything posted here I thought I would contribute back to the community. While it's not complete (should be done in a few days) I think it's a great help with the Wicker's system.

The problem I have with most of the current indicators for the rainbow system is that the chart screen gets too cluttered and everything gets musshed together and makes the charts harder to read.

Soooo..

I took the indicator created by pmurfin (great work by the way) and did the following..

The indicator is now in a seperate indicator window so it's not clogging up the chart display and makes it easier to read.

The indicator now has the ability to display ALL the chart timeframes at once, not just the current timeframe the chart is set to. I did this as I was finding that by seeing all the data across all the timeframes I could get a better feel for what was going on.

(the multitime frame ability can be turned on and off so one can just display the current chart timeframe or all.)

I also added the ability to show when the markets are open and closed
(again, an optional item that can be turned on and off). I included this as I was always forgetting when which markets were open when.

The last item added was just a simple indicator showing the bid/ask spread for the current pair (again, optional). I did this as I have a few account with different brokers with different spreads and I was always forgetting what the spreads were as they are different for each broker I use.

The indicator is coded so that one does not need to have any of the external indicators, you can just attach this indicator to a chart and go with it, it's all selfcontained. (but having the guppy indicators makes it nice)

I've attached pics so you can get an idea where I'm heading. THIS IS ONLY AN INDICATOR AND NOT AN EA, I'M NOT GOING TO PROGRAM AN EA FOR THIS.

This does do alets as well as e-mail alerts. If you have the multitimeframe enabled it will give alerts across all the timeframes.

This is still in beta, I have a few minor bugs to work out and I'll be releasing it hopefully in the next week or so.

Again, thanks, Wicker, great system and thanks pmurfin, you code base was a big help in making this work (you were credited everywere in the code for your contribution).


Thanks ByerRA . Please where can I find Pmurfin code on this thread?
  • #2,243
  • Oct 19, 2008 2:53pm Oct 19, 2008 2:53pm
Quoting aje6767
Thanks ByerRA . Please where can I find Pmurfin code on this thread?
I know it was posted and you would probably have to go through all the posts to find it. If I still have it, I'll post another copy of it.
"I don't want to take over the world, just my own little part of it."
  • #2,244
  • Oct 19, 2008 3:07pm Oct 19, 2008 3:07pm
Quoting pete.alfa
Hi Pilatus,

I'm new to this thread I read all the rules &and it seem to be very simple & easy to follow but patient & discipline are needed.
please explain more detail how do you analyze higher time frame if you are trading on 5mins TF?
so I can work out the way to trade this system properly.

Thank you,
Pete.
Read this, and pracitce. Take some time and learn something about trend determination and analysis of trend. Do not complicate and make it simple as you can. Use trend lines, fib and chanels and specially support and resistance levels. I like to use support/resistance levels which are high and low of the day. I found that when price bounce from these levels and than signal occur, signals are very, very accurate. That is all. Use timeframe 1h or 4h. Always look for signal with trend. Specially be careful with signal against the trend.
Ask whenever you have any question. There is no stupid question, only stupid answer.
Attached File(s)
File Type: pdf Trend_Determination.pdf   560 KB | 2,481 downloads
  • #2,245
  • Oct 19, 2008 7:37pm Oct 19, 2008 7:37pm
Quoting pilatus
Read this, and pracitce. Take some time and learn something about trend determination and analysis of trend. Do not complicate and make it simple as you can. Use trend lines, fib and chanels and specially support and resistance levels. I like to use support/resistance levels which are high and low of the day. I found that when price bounce from these levels and than signal occur, signals are very, very accurate. That is all. Use timeframe 1h or 4h. Always look for signal with trend. Specially be careful with signal against the trend.
Ask whenever you have any question. There is no stupid question, only stupid answer.
Thank you Pilatus,

You are great to open another door to my trading lesson because I really don't know how to analyse the trend. I'll read your pdf file tomorrow.
Again Thanks Pilatus

Pete
  • #2,246
  • Edited 8:02pm Oct 19, 2008 7:41pm | Edited 8:02pm
I have moved my time frame to the 30 min chart in an attempt to filter out some noise. Just trying to work out if this is an Invalid signal or False Breakout on CHF/JPY as Laguerre was already way above 0.15 when the signal arrived and MACD was already way above 0. Any suggestions as to what this signal was?


http://img525.imageshack.us/img525/6...reakoutcn7.jpg
Starting to see instead of just looking.
  • #2,247
  • Edited 8:00pm Oct 19, 2008 7:50pm | Edited 8:00pm
Still looks like an invalid signal on this 5 min chart as MACD is below 0 and Lag was already above 0.15 but price is going up. I am even more confused.

In the manual it states that a valid LONG signal, "LAGUERRE: Laguerre line must cross the 0.15 from below and head up"!

I am confused as the LAG was already way above 0.15. In this case do we take this trade or sit on our hands"?

http://img525.imageshack.us/img525/986/valid5minhd0.jpg

A look at the 30 min chart makes it appear like a dodgy trade but price is still soaring??


http://img404.imageshack.us/img404/4199/validop1.jpg
Starting to see instead of just looking.
  • #2,248
  • Oct 19, 2008 7:53pm Oct 19, 2008 7:53pm
Hi all, I've been studying this thread from beginning to end but I can't seem to get the indicators into my chart. My chart looks exactly the same as in post#600 by forex4h, I followed the directions in post#601 by eng forex171 with the same results. The indicators are in my Meta Editor but not in the Navigator. If any one can figure out what I am doing wrong, I would be grateful. Thanx
Quoting Forex4H
Hi,

I'm new to this thread. I followed the steps and installed the MetaTrader 4 on my computer. I also downloaded the TrendFollower.zip file, unzipped it and put all the files into ..\templates folder. But when I open my Metatrader4, my screen looked like different. I tried to add some indicators mentioned by TheWicker and could not find these indicators like Signal Arrows, Volatility Channel, Laguerre, Slope Direction Line, and Pivot Points.

I knew I did something wrong. Any help will be appreciated.

Thanks
  • #2,249
  • Oct 19, 2008 8:09pm Oct 19, 2008 8:09pm
Obviously at 54 pips, it was a valid signal which I misinterpreted as either a false breakout or invalid signal. Not sure which is which anymore.

Pilatus, would you have taken this trade, or how would you have interpreted this signal in the first post above?

http://img371.imageshack.us/img371/2...ips5mindj6.jpg
Starting to see instead of just looking.
  • #2,250
  • Oct 19, 2008 8:39pm Oct 19, 2008 8:39pm
Quoting trzmyewski
Hi all, I've been studying this thread from beginning to end but I can't seem to get the indicators into my chart. My chart looks exactly the same as in post#600 by forex4h, I followed the directions in post#601 by eng forex171 with the same results. The indicators are in my Meta Editor but not in the Navigator. If any one can figure out what I am doing wrong, I would be grateful. Thanx
Try the files in this zip and load the template.
Attached File(s)
File Type: zip Trend_Follower.zip   23 KB | 1,235 downloads
Starting to see instead of just looking.
  • #2,251
  • Oct 19, 2008 9:47pm Oct 19, 2008 9:47pm
Thanx Rastaman, I deleted the original files and downloaded from your post with the same results. I must be missing something.

Quoting Rastaman
Try the files in this zip and load the template.
  • #2,252
  • Oct 19, 2008 11:56pm Oct 19, 2008 11:56pm
Thanx Rastaman, Everything is working now!
Quoting trzmyewski
Thanx Rastaman, I deleted the original files and downloaded from your post with the same results. I must be missing something.
  • #2,253
  • Oct 20, 2008 12:27am Oct 20, 2008 12:27am
Quoting trzmyewski
Thanx Rastaman, Everything is working now!
Forgot to throw an indicator in or something?

Glad it is working.
Starting to see instead of just looking.
  • #2,254
  • Oct 20, 2008 12:44am Oct 20, 2008 12:44am
I was unzipping the files directly into Metatrader. I had to move them into Metatrader from my docs. Thanx again.

Quoting Rastaman
Forgot to throw an indicator in or something?

Glad it is working.
  • #2,255
  • Oct 20, 2008 12:45am Oct 20, 2008 12:45am
Nice signal occurred during Asian. It was risky as we were supposed to trade London and NY only but this one looked to good. Unfortunately went out at first resistance as for me looked as really tough one to brake.
Took the trade on the second bar after signal. In my opinion its better to wait for good positive MACD

I will try to post all signals I will trade so everyone can comments why some did work out and others didn't.

Trading live mini account.

Hopefully there will be more the will work out http://www.forexfactory.com/images/icons/icon7.gif
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy.gif Size: 27 KB
  • #2,256
  • Oct 20, 2008 2:46am Oct 20, 2008 2:46am
Quoting Rastaman
Obviously at 54 pips, it was a valid signal which I misinterpreted as either a false breakout or invalid signal. Not sure which is which anymore.

Pilatus, would you have taken this trade, or how would you have interpreted this signal in the first post above?

http://img371.imageshack.us/img371/2...ips5mindj6.jpg
No one of this signal are valid. Sorry, but all conditiones are met when: Lagg pass 0.15 at signal bar or one after and macd is above 0 or up. You dont have macd up in any example. See my posts and you will see what good signal is. Hff has valid signal in post above. Although I am looking for signal where MACD is above zero on signal bar if I want to go long and viceversa.
  • #2,257
  • Edited 3:18am Oct 20, 2008 3:07am | Edited 3:18am
Thanks for the prompt reply Pilatus.

Just reviewed the trades you made and realized that you are indeed waiting patiently for that short signal and then confirming it with other methods in your toolbox of experience. Fine example to us Newbies to not blindly jump on a signal, like an auto response, no matter how good the system is.

Well, at least I am learning a little & starting to weed the wheat from the chaff as they say.

Greatly appreciated.

Seems like it is hard to get into a trade today with the LAG ahead of the MACD or visa versa.

Just watching everything bounce off or around the 38.2 fibs on teh way back up.

I am waiting for the short signals........Waiting all afternoon.

http://img404.imageshack.us/img404/5...offfibsrb6.jpg
Starting to see instead of just looking.
  • #2,258
  • Oct 20, 2008 3:37am Oct 20, 2008 3:37am
This is an example of what I am seeing a lot of today on GPY/CHF/EUR/USD-JPY. With the LAG way ahead of the MACD.
Just wondering if this is going to go back up and form the head & shoulders you showed in your previous trade chart?

http://img523.imageshack.us/img523/1115/exampleit5.jpg
Starting to see instead of just looking.
  • #2,259
  • Oct 20, 2008 4:13am Oct 20, 2008 4:13am
Thanks for the great work with this separate indicator. Can you put it here in the thread for downloading. It would help a lot.
Ashi
  • #2,260
  • Edited 3:46pm Oct 20, 2008 10:04am | Edited 3:46pm
ByerRA. And Rastman thanks very much for your contibutions to this thread cant wait to try ur latest indicators .Check out woodies cci indicator here in fxfactory . Its a good way to see if things have been bottoming out for awhile or rideing high . If you want to scalp here and there its nice too . But this indicator with the laguer is powerful . Get them pips !
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