mechanical 1min

Yes

Super signal repaint hence the istoch as a 2nd fixed confirmation

EURUSD

I got up to around 80 pips on the 1min time frame today but towards the end had a run of 2 and 3 pip losers so ended on 65

On the 5 min time frame I had 3 signals +17+17+25

was pleased

paulus

ok

yest on the 1min gave at a max 85 pips but settled at the end of the day to give 65pips considering the time of year and the weak moves thought this was great

the 5min gave me just 3 signals for +17+17+25

On 5min - Entry with itsoch when RSI OB or OS..close when RSI hits its 50 level as indicated by vertical dashed red line
On 1min - Entry with a super signal followed by an istoch.. close when you get a bar in the opposite direction

Note

For those who want a slower pace when trading the 1min you can employ the RSI for very good results

Entry - When the RSI is over 80 take shorts with an istoch signal...When RSI is under 20 take longs with an istoch signal

SL - As we use the RSI to enter we use it to close ,when the RSI hits breaks its 50 line we close the trade

Advantage

Using the RSI as a filter we cut down the number of signals by 2/3rds
It also keeps us out of small low volatility periods and side ways moves

Additional rule

Simple one this---- we all know indicators like the RSI tend to stay above thier 50 line when a strong up trend is in place...
When we get a short signal via istoch because the RSI is OB we take it..how ever if we get a 2nd short signal without the RSI coming down through its 50 level 1st we ignore and it could be the sign of a trending period.

See 1min chart below - When you look at the chart take a look at the period when the RSI is not above 80 or below 20 then look at the candles for that period it tends to be flattish without any big moves.

I have highlighted the RSI signal for this portion of the chart with a yellow rectangle and a big black arrow...the exit is a black cross and light blue rectangle

When we get an RSI OB or OS condition it tells us we could expect a pull back or rally ..
The RSI offers a capability to identify and monitor the current trend, highlight overbought and oversold extremes, and give early warnings of a trend change.

Using this to filter all the 1min signals we get 69 pips over 17 signals
12 wins
5 losses
Average win 7.6
Average loss 4.6

the entire sequence +10-1+4+8+11+11+8+11-15+6+7-2+7+4+5-3-2

Paulus

Example of trend and when not to take signals

Paulus,

Although I have my own system in place that works for me, I am confident your method works well, but I see the 5M tf as the best......for me anyway if I was going to trade this system. Combining iStoch & RSI is a good combination for giving a strong trade direction signal.

Yesterday near the end of the NY session iStoch gave a sell signal for $/Y that produced approx 45 pips by the close of NY session on one lot. When iStoch gave its signal RSI @14 on 5M tf was hanging in the 100 Level. I might add after the iStoch sell signal was given, iStoch did give two buy signals, but RSI would have kept you in the short trade as it was under the 70 level & continued down even after iStoch gave its second buy signal. At the NY close RSI was resting well under the 30 Level.

Now I am not a fan of lagging indicators, but it is clear iStoch stays put once the candle closes & RSI backs the signal, but pay attention when RSI starts riding the 50% line.

All said & done from the time I observed this system it appears to work, but I do prefer the 5M tf. If you trade the 1M pay close attention to RSI signals @ the 50% level. RSI is no doubt a good filter for this system on either the 1M or the 5M.

Paulus, what setting on RSI are your using for the 1M tf?


These are just my views & nothing more. Just trying to help.
__________________________________

Paulus,

Don't know why I didn't check your 1m chart for the RSI, but I just noticed you are using 10. That looks good on the 1m & on the 5M as well.

I will be back to trading next week, but will keep your system up & running on another screen to see how it works when the market settles into a new yr.

Gut saying it will produce similar or better results, but the proofs in the gains & losses.

I admire your willingness to always step up & reveal your methods for everyone to try & improve upon them by sharing their ideas & views.

Hi All,
Looking for the current settings to the istoch indy. Are we using the default of 5,3,20 ?
Thanks much.
Cliff

Hi Cliff

Yes thats it

cheers

P

hi,
thanks for the system. whats the setting for the istoch and super indicators? is it the default ones?

looking at your chart above, i see that for example when rsi goes from above 80 to below it the istoch arrow shows and you sell. when the istoch arrow appears rsi is not over 80 at that moment, its below it. how near to the 80 mark does rsi have to be when the istoch arrow tells us to sell?

The rsi has to be over 80 then at any time after we get a istoch sell we enter

If the RSI is at its 50 level ( our tp) or if our fill will take us to our 50 level then the signal is not taken.

Paulus

Hello Paulus,

Just for clarification you enter (1 min tf supersignal+istochs) as soon as the stochs arrow appears or on the open of the next candle?

Hi Paulus,

Thank you for sharing this method.

I had a couple of questions pertaining to your chart when not to take signals.

What do you mean on your chart Ignore RSI over 80 without a break?
Without a break through the RSI 75 line going down?

Please correct me if I am wrong on your chart the Take signals would have been losses and the ignore would have kept us out?

Thank you for your reply it is appreciated. By the way I went 10 for 10 today on the 1 Min. timeframe! It seems to provide many more signals than the 5 min. I am still testing this strategy and have exited my tp with different options.
http://www.forexfactory.com/attachme...1&d=1230977827
Thanks again

Is anyone still working with this system?

Hi PistolDave,

I am still using this system with good results, however if I could eliminate the false signals it would be a very good system indeed.

I had posted a question before yours regarding the understanding of a false signal, however with no reply. I was hoping to move forward and retest and that this thread would start up again.

At one time, it might of been luck or just good exits on my part...I WENT WITHOUT A LOSS FOR 22 TRADES!! Just scalping for tp between 2-9 pips.
This is all on a Demo account.

hey paulus


does the red and green arrows repaint?

Yep, they repaint. But using iStoch indie with RSI helps control negative entries. Hope this helps.

Paulus ,
Thought I'd play with the entry rules a bit during close of London-NY lunch time slow down. Not much happening.
Trades 1 and 2 were placed after rules would dictate, fill was near 50 line.
Trade 3 was bounce off of TL with RSI flat on 50 line.
Trade 4 was per SSig and iStoch but RSI shy of 75 line.
All four trades were positive.
Really like your approach to using these indies to limit bad trades.
With a tight stop, using PA and market direction, it seems the 50 line can come into play for entries as well.
!Ciao! for now.
Cliff

Hey Paulus

Any luck finding a way to keep the Supersig from repainting? You mentioned earlier on in the thread about talkin to someone about it...? Thanks!

no sorry

P

Paulas have you been trading this consistenly lately? Results?

Nice to see differenet ways of trading this Im still looking at the original

Ie

Enrty

Super signal 1st
Then iStock which doesn't repaint up to 3 bars later
Enter 10 secs to go on istoch arrow bar

Tp and SL is bar in opposite direction.

All on 1min

+166 so far today

Paulus