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JungleLion Scalping System

  • #1
  • First Post: Edited Jan 6, 2009 11:29am Dec 11, 2008 4:47am | Edited Jan 6, 2009 11:29am
Introduction:

This system is designed for eurusd on 1 min charts, though it can be used on any pair and any timeframe of your choice.

The basics is simple:

Trade only on the cross of tsf and t3, if they do not cross, do not enter.

The EA does the job of closing the trade in profits.

The Chart:

http://i54.photobucket.com/albums/g9...photo/eu-1.gif

The Indicators:

Use default settings on all.

Entry:

xpma blue means short, xpma red means long, enter on the cross of the two lines.

Trade on demo first, for a few trades, the win ratio is closer to 80%.

The EA:

Trendchaser is the EA which trails the trade based on T3.



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Thread Summary
http://www.forexfactory.com/showpost.php?p=2451974&postcount=284

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Attached File(s)
File Type: mq4 trendchaser.mq4   2 KB | 5,810 downloads
File Type: mq4 T3MA.mq4   3 KB | 5,680 downloads
File Type: mq4 Time Series Forecast.mq4   3 KB | 5,466 downloads
File Type: mq4 xpMA.mq4   16 KB | 5,761 downloads
  • #2
  • Dec 11, 2008 5:42am Dec 11, 2008 5:42am
For example:

In this chart I have a cross on 5 min, I took the short with the EA trailing the stop.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 9 KB
  • #3
  • Edited 6:47am Dec 11, 2008 6:02am | Edited 6:47am
Hi JungleLion,

Thanks for posting a new system.

Just some questions:

are you trading just on the cross or are you waiting for the arrows to form?

what times do you trade this system?

how long have you been trading it?

are the results based on live or demo trading?

Thanks and well done.

Gray.
  • #4
  • Dec 11, 2008 6:41am Dec 11, 2008 6:41am
Thanks Junglelion...

Can you pls tell me what's the default settings of the EA???
  • #5
  • Dec 11, 2008 6:55am Dec 11, 2008 6:55am
Quoting gtrade
Hi JungleLion,

Thanks for posting a new system.

Just some questions:

are you trading just on the cross or are you waiting for the arrows to form?

what times do you trade this system?

how long have you been trading it?

are the results based on live or demo trading?

Thanks and well done.

Gray.
Just the cross and not the arrows.

the EA does not have any inputs, hence default.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 8 KB
  • #6
  • Dec 11, 2008 6:57am Dec 11, 2008 6:57am
By the way weekly eurusd and audusd is suggestive of a long haul up.
  • #7
  • Dec 11, 2008 7:05am Dec 11, 2008 7:05am
The EA is written by trendchaser (http://www.forexfactory.com/member.php?u=50499).
  • #8
  • Dec 11, 2008 7:16am Dec 11, 2008 7:16am
I am missing something. Don't the charts posted show two indicators and the price displayed as a line? It looks like you have the xpma and the t3 on your chart. Do you also have the tsf on there and the color for the price bars and/or candles set to black?

In the first post you say
Quoting junglelion
Trade only on the cross of tsf and t3, if they do not cross, do not enter.

Entry:
xpma blue means short, xpma red means long, enter on the cross of the two lines.
Do you wait for the xpma to change color? What is the xpma used for?
  • #9
  • Dec 11, 2008 7:28am Dec 11, 2008 7:28am
Quoting nvwine
I am missing something. Don't the charts posted show two indicators and the price displayed as a line? It looks like you have the xpma and the t3 on your chart. Do you also have the tsf on there and the color for the price bars and/or candles set to black?

In the first post you say

Do you wait for the xpma to change color? What is the xpma used for?
On the chart we use:

  1. xpma
  2. time series forecast

t3ma is the library function which is used by both the EA and xpma to work properly, and is not used on the chart.

  • #10
  • Dec 11, 2008 7:34am Dec 11, 2008 7:34am
Thank you.
In the first post you say "Trade only on the cross of tsf and t3, if they do not cross, do not enter."
That is why I thought it should be on the chart.
  • #11
  • Dec 11, 2008 7:37am Dec 11, 2008 7:37am
Quoting nvwine
Thank you.
In the first post you say "Trade only on the cross of tsf and t3, if they do not cross, do not enter."
That is why I thought it should be on the chart.
when xpma is used with the setting of

  1. may_period: 8
  2. ma_type: 6

then it functions as T3 triple exponential moving average.

other uses of xpma are as follows:

Attached Images
  • #12
  • Dec 11, 2008 8:18am Dec 11, 2008 8:18am
Very interesting!!! Keep up the good work!!!
  • #13
  • Dec 11, 2008 8:43am Dec 11, 2008 8:43am
What's the trailing stop on the EA pls??
  • #14
  • Dec 11, 2008 8:46am Dec 11, 2008 8:46am
Quoting mellow:)
What's the trailing stop on the EA pls??
the current tick value of t3 becomes SL in long and t3+spread in short.
  • #15
  • Dec 11, 2008 8:49am Dec 11, 2008 8:49am
Thanks for the prompt reply Junglelion...seems very promising...
  • #16
  • Dec 11, 2008 10:51am Dec 11, 2008 10:51am
Quote
EUR/USD's rally extends further to as high as 1.3272 today and at this point, intraday bias remains on the upside as long as 1.3080 minor support holds. Current rise from 1.2549 is expected to extend further to above 1.3290, possibly to 100% projection of 1.2329 to 1.3290 from 1.2549 at 1.3510. However, note that price actions from 1.2329 is still viewed as consolidation in the larger medium term down trend only, upside is still expected to be limited below 1.3768 cluster resistance (38.2% retracement of 1.6038 to 1.2329 at 1.3746) and bring down...

3290 hit, if this breaks then 3510 or s bounce back, where are we going in the long run ?
  • #17
  • Dec 11, 2008 11:34am Dec 11, 2008 11:34am
Looks interesting.

On a preliminary view, combined with price, looks good.

I'll take a good look on your idea.
  • #18
  • Dec 11, 2008 12:22pm Dec 11, 2008 12:22pm
It's working quite well for me...up 50 pips so far...
  • #19
  • Dec 11, 2008 12:49pm Dec 11, 2008 12:49pm
Quoting mellow:)
It's working quite well for me...up 50 pips so far...
Great. Are you using the system on 1 minute?
Also are you using EA for stops?
  • #20
  • Dec 11, 2008 12:59pm Dec 11, 2008 12:59pm
One more indicator:

I added one more indicator to the list to make the scalping experience better. I have not tested this new indi, but so far the trades have been good.

Let me know how the new addition works out for you.

Murrey Lines for 5 min setup.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 9 KB
Attached File(s)
File Type: mq4 Murrey_Math_Line_X.mq4   13 KB | 1,318 downloads
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