Powerful 1 Min Scalping System (Fx Prime)

Nice little short here - I'm trying to follow the original rules. Lynn

If it stays on all pairs, and it's not changing just go to Charts/Objects - then delete the time there. Then save. That should get rid of the time on your charts.

Ronald Raygun,

Hey mate how goes it? I follow your work and respect what you do. Curious to see if you are trading this system live (i think it's safe to assume - yes) and if so, with what modifications (again, i think it is safe to assume you are using modifications).

I dont think it needs any changes, apart from the obvious benefit of a quantifiable way of determining when not to trade (in a choppy market) which i believe is the purpose of the indicator CD is focussing his energies on right now. Thought you might have your own way of doing this already?

If you would prefer, feel free to flick me a PM.

Cheers
MM.

I trade this system with two simple things:

Enter:
CCI34 Cross 0 in the direction of the CCI170

Exit: CCI34 Cross 0 opposite the CCI170.


The exit is in place to help me get out of false breakouts early. That's it, I generally exit earlier when I catch a longer trend, but whenever I do that sort of exit, it applies to all my active EAs, and generally happens when I'm swapping out one type of EA for another.

Adding indicators tends to cloud the view of the market IMO. Systems with more than 4 different indicators tend to last only in the short term.

Nice,

Im being a litte more granular in my exits, as in, half off at 1:1 or thereabouts, and the remainder at a big level or the 34 breaking back... not using any other indicators though... They definately cloud the view, and give you more reasons to stay in a losing trade... More so than giving a number of reasons to enter a trade.

More indicators will lead to preempting the many (unnecessary) rules for entries, and builds bad habits for breaking. I say this, because its happened to me and i still screw it up.

MM

Hi Ronald and MM,
I'm using HAD indicator for my exit point as below.
It works well at the moment.

double has0 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,0,0);
double has1 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,1,0);
double has2 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,2,0);
double has3 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,3,0);
double has4 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,4,0);
double has5 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,5,0);
double has6 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,6,0);
double has7 = iCustom(NULL, 1,"4 TF HAS Bar",2,6,3,2,1.0,7,0);
int Total;
string CloseTrigger;
Total = OrdersTotal();
for (int i = 0; i < Total; i ++) {//open
Print ("Current order " + i + " total order " + Total);
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
if(OrderType() <= OP_SELL && OrderSymbol() == Symbol() ) {//open3
Print ("Close Sell in progress");
if(OrderType() == OP_SELL) {//open2
Print ("Closing Sell trade");
CloseTrigger = "None";
if( (has0 != 4) || (has2 != 3) || (has4 != 2) || (has6 != 1) )
{//open1
Print ("Closed");
CloseTrigger = "Close Long";
OrderClose(OrderTicket(), OrderLots(), Bid, 3, MediumSeaGreen);
Alert("Close Long");
}//close1
}//close2
}//close3
else{//Open4
Print ("Close Buy in progress");
if(OrderType() == OP_BUY) {//Open5
Print ("Closing Buy trade");
CloseTrigger = "None";
if( (has1 != 4) || (has3 != 3) || (has5 != 2) || (has7 != 1) )
{//Open6
Print ("Closed");
CloseTrigger = "Close Short";
OrderClose(OrderTicket(), OrderLots(), Ask, 3, MediumSeaGreen);
Alert("Close Long");
}//close6
}//close5
}//close4
}//close

Siobi,

Forgive my ignorance, but how do i compile this idicator so that i can test its application?

Thanks,
MM

which indicator u are talking about?

the code I posted is part of the EA code that I edit at Ronald's orginal EA code.

it is not indicator but EA for exit strategy based on HAD setting.

I'll only tunr this exit EA on if needed as it might immediately close the trade once either one of the HAS signal is not correct....

still in testing stage....

The EA already has a HAS filter put in...

ah, thanks Ronald for remind me.... but I'm refering to the custom indicator
"4 TF HAS Bar".

If anyone planning to use or have been using this indicator to show signal on the chart, here a bit of info to tell the difference between both of them.

Arrow_RSI8 use level value 45 & 55
Arrow_RSI14 use level value 43.5 & 56.5

Hope this will help.

Happy Pippin

~Profi~

Hi Lynn,

correct me guys if i'm wrong but that trade was against the rules as CCI170 was already below zero when 34 crossed it....

this strategy has more holes than one. There is a better chance of success if you trade on a 5 min chart i think. there is too much whipsaw on a 1 min chart. the 1 good trade you have is eaten away by bad ones. even if the template lines up perfectly.

second, this strategy is not idiot proof. you have to know when exactly to get in. what is the general direction of the pair at the moment. I look at 5,15,and 30 minute. I changed my cci indicators.

I have been trading on a demo account and haven't really made any money on it. I am about ready to vote in the poll.

there is a chance of success, but you have to trade every signal so you can catch the big moves. I get a sense that some of the people here just lucked out when they traded.

I am trying to profit from bad trades by having a tight stop of 8 and a trailing stop of 5 pips.

where is this filter i keep hearing about?

thanks

used my new stops and i'm up so far by 5 pips

Here they are, i use the default settings....

Be patient. Nobody is bound to deliver a filter indicator at all.
In my opinion it is very very hard to develop such filter. It will be a great gift if it will succeed.

Please respect the wish of CD and don't ask again.

Hi All,

I am learning how to trade this system. I am in doubt if a long position should have been opened at point A or B or none of them.

My own explanation is that the CCI-34 was already above zero when CCI-170 crossed it for both point A and B.

I'd appreciate a lot if anyone experienced with the system could help...

TIA!

Hi fx-char
At point A CCI-170 is not >0, so don't look for long trades
At point B you're a little bit early. Price didn't break out, so if you waited 1 or 2 bars, it was great in my opinion.

It is not valid signal for this system.
When RSI 34 passes 0 line RSI 170 should already be in that direction. This time RSI170 passed later. At the moment I am waiting for a valid long because 170 is over 0 and 34 is below it. We'll see...

Thanks Jazz1964 for clarifying these points!