4H 5EMA System | Page 142 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

TEB 5ema & 12ema and 21 RSI (MTF) 1,730 replies

5EMA hilo system, and EA Idea 18 replies

4H 5EMA System's EA 79 replies

4HR 5EMA Expert Advisor 42 replies

when 5EMA crosses out of 55LWMA channel 0 replies

Attachments: 4H 5EMA System
Exit Attachments

4H 5EMA System

  • #2,821
  • Jan 26, 2009 12:14pm Jan 26, 2009 12:14pm
Quoting tonirai
Yes, small country by the sea, with good weather (not so much these days)

But I was born in France and lived there for 8 years, so I speak French, too (I never stopped practising the language because I have lots of family and friends there).

By that age, I already spoke English too

I'm impressed by all of you who are multi-lingual and
do so very well writing in English on this thread
for those of us who struggle with our own language.

I've lived in Japan, Canada, England and Germany and
still only speak one language.

Dr. D.
  • #2,822
  • Jan 26, 2009 12:42pm Jan 26, 2009 12:42pm
Quoting fourxtrader
I'm impressed by all of you who are multi-lingual and
do so very well writing in English on this thread
for those of us who struggle with our own language.

I've lived in Japan, Canada, England and Germany and
still only speak one language.

Dr. D.
I can tell you that, for a portuguese, English is an easy language
French is tougher... and German would be a nighmare for me to learn

So the mother language accounts for the learning skills, too... but there's also cultural issues - when you are from a small peripherical country, to learn other countries' languages is more like an obligation.

I give you one example: Spain and the spanish language;
Portugal and Spain are neighbors. Both languages are very similar.

But for general spanish people, Portugal is a small of "no importance" country... but for portuguese folks, it's the only country we have borders with, and of vital importance to our business;

Well, you find very few people in Spain that can understand and communicate with portuguese people... but almost all portuguese can understand and communicate with the spanish

Sorry for the off-topic, folks!
  • #2,823
  • Jan 26, 2009 12:59pm Jan 26, 2009 12:59pm
Quoting howard
You have to wait for the next setup bar, there is no provisions for late entry
It could be painful sitting on the sidelines...

Let me get this straight.

For example in the chart below, according to the rules....
if you didn't enter short during CANDLE A at or near the red
line (down arrow) or currently long on CANDLE C at or near
the red line (up arrow) you are not to enter either trade.

In the case of the trade between A and B you would have to
wait for three +days waiting to enter a trade with this system.

In the current running LONG trade CANDLE C to CANDLE D...
this could similarly run up for days without producing a qualified
reverse candle and sell-stop order.

I see upon its closing, CANDLE D may be the 'new' short set-up candle
and offers an opportunity to fill a sell-stop order for those who are out
of the market and those in to reverse their trade directions.

Are these correct?

Thanks,

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: no late entry zones.gif Size: 48 KB
  • #2,824
  • Jan 26, 2009 1:14pm Jan 26, 2009 1:14pm
Quoting tonirai
Yes, but that's also why we have a rule in which setup bars expire after two consecutive failures (to account for indecision, sideway movements).

What I said is the rule acording to Sterling. It has happen in the past.
Yes, Toni, you are right - I should have remembered because I think I asked Sterling that very question about a thousand posts back!
You don't have to be right, just don't be too wrong
  • #2,825
  • Jan 26, 2009 1:19pm Jan 26, 2009 1:19pm
According to my MetaTrader - Alpari platform, in the newly
opened candle a sell-stop trade was just triggered at 1.3885.

Stop Loss and buy-stop order @ 1.4033

Dr. D.
  • #2,826
  • Jan 26, 2009 1:21pm Jan 26, 2009 1:21pm
Quoting fourxtrader
It could be painful sitting on the sidelines...

Let me get this straight.

For example in the chart below, according to the rules....
if you didn't enter short during CANDLE A at or near the red
line (down arrow) or currently long on CANDLE C at or near
[color=blue][i]the red line (up arrow)...
Yes - absolutely right! In the big scheme of things it's only a short wait as once you are in, you're rarely flat again.
And also yes, unless candle D plummets to hit the lower 5 EMA, it is looking as though it will become a short setup.
You don't have to be right, just don't be too wrong
  • #2,827
  • Jan 26, 2009 1:29pm Jan 26, 2009 1:29pm
Quoting fourxtrader
According to my MetaTrader - Alpari platform, in the newly
opened candle a sell-stop trade was just triggered at 1.3885.

Stop Loss and buy-stop order @ 1.4033

Dr. D.
I think you mean 1.4003
But you don't place the buy stop order yet... only when the present bar will be closed.
  • #2,828
  • Jan 26, 2009 1:40pm Jan 26, 2009 1:40pm
Quoting tonirai
I think you mean 1.4003
But you don't place the buy stop order yet... only when the present bar will be closed.

Yes, 1.4003 in my trade. I just wrote it wrong here.

Now aren't we in a new candle so the short set-up candle
is closed allowing for a stop loss and buy-stop @ 1.4003?

Dr. D.
  • #2,829
  • Jan 26, 2009 1:51pm Jan 26, 2009 1:51pm
Quoting fourxtrader
Yes, 1.4003 in my trade. I just wrote it wrong here.

Now aren't we in a new candle so the short set-up candle
is closed allowing for a stop loss and buy-stop @ 1.4003?

Dr. D.
When the short setup bar has closed, you were still in a long, and you've placed a sell stop order and its SL;
That order is now filled, and you're short.

But the reverse order is only placed when the present bar will close - remember that all the rules of this system are built to act only when the bars are closed (to monitor trades only once every 4h).

If the present bar now reverses direction and goes up, triggering the SL, you'll be flat and waiting for a new setup bar.
  • #2,830
  • Jan 26, 2009 2:43pm Jan 26, 2009 2:43pm
Sorry Tony , I'm lose.
What I can do in situation like that on the pic
Bars A and B have the same low , but high from A is higher as high from B.
After B close I change price for pending , makes it as high from B or looking on B like faild reversal and stay with price for pending order like high from A ?
Thanks
Peter
  • #2,831
  • Jan 26, 2009 2:44pm Jan 26, 2009 2:44pm
Sorry , here is chart
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
  • #2,832
  • Jan 26, 2009 2:52pm Jan 26, 2009 2:52pm
Quoting pitpiter
Sorry Tony , I'm lose.
What I can do in situation like that on the pic
Bars A and B have the same low , but high from A is higher as high from B.
After B close I change price for pending , makes it as high from B or looking on B like faild reversal and stay with price for pending order like high from A ?
Thanks
Peter
Peter, Toni was right earlier when he stated that if the high of B does not trigger the stop order on setup bar A, then B is a failed reversal bar and the order, and contingent stop loss are not moved from A.
You don't have to be right, just don't be too wrong
  • #2,833
  • Jan 26, 2009 3:00pm Jan 26, 2009 3:00pm
Quoting El Dee
Peter, Toni was right earlier when he stated that if the high of B does not trigger the stop order on setup bar A, then B is a failed reversal bar and the order, and contingent stop loss are not moved from A.
But in his post http://www.forexfactory.com/showpost.php?p=2494504&postcount=2812 he talk about In this situation, if two bars have the same low and the second bar has a lower high, we use the second bar for the setup to go long
May be it realy important : second bar make lower high or not ??
And it why I'm lost
Peter
  • #2,834
  • Jan 26, 2009 3:15pm Jan 26, 2009 3:15pm
Yes pitpiter, it's really important

What defines new setup bar in a consecutive down row? Making consecutives lower lows. But:

"Normal" new setup bar should have lower highs and lower lows;

However, sometimes it doesn't - and in those cases, priority is for the lower low (if it makes one without triggering the trade, it becomes a setup bar);

After that, you have the cases where you get equal lows - what to do in these cases?

If it makes a lower high, it becomes the new setup bar;
If it makes a higher high (without triggering the trade), everything stays as before and it becomes a failed reversal bar.
  • #2,835
  • Jan 26, 2009 3:44pm Jan 26, 2009 3:44pm
Quoting tonirai
Yes pitpiter, it's really important

What defines new setup bar in a consecutive down row? Making consecutives lower lows. But:

"Normal" new setup bar should have lower highs and lower lows;

However, sometimes it doesn't - and in those cases, priority is for the lower low (if it makes one without triggering the trade, it becomes a setup bar);

After that, you have the cases where you get equal lows - what to do in these cases?

If it makes a lower high, it becomes the new setup bar;
If it makes a higher high (without triggering...
And if we have equal low and high I hope everything stays as before ??
Peter
  • #2,836
  • Jan 26, 2009 4:01pm Jan 26, 2009 4:01pm
Peter or anyone present,

Is this the trade currently running according to the chart?

A short (sell-stop) placed at 1.3885 in CANDLE C that was
triggered off the low of CANDLE B that has now reversed
upward to a newer high and currently trading near the S/L
of 1.4033.

Thanks,

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: current trade short.gif Size: 48 KB
  • #2,837
  • Jan 26, 2009 4:07pm Jan 26, 2009 4:07pm
Quoting pitpiter
And if we have equal low and high I hope everything stays as before ??
Peter
I was afraid you would ask that

That case wasn't covered in the previous posts;
(That's a strange combination to happen in two consecutives 4H bars )

But I would say, in light of what I explained above, that everything stays the same, the first bar stays the setup bar.
  • #2,838
  • Jan 26, 2009 4:10pm Jan 26, 2009 4:10pm
Quoting fourxtrader
Peter or anyone present,

Is this the trade currently running according to the chart?

A short (sell-stop) placed at 1.3885 in CANDLE C that was
triggered off the low of CANDLE B that has now reversed
upward to a newer high and currently trading near the S/L
of 1.4033.

Thanks,

Dr....
Yes, that's the current situation (near the SL of 1.4003).
Nothing has changed since we talked earlier.
  • #2,839
  • Jan 26, 2009 4:16pm Jan 26, 2009 4:16pm
Quoting tonirai
Yes, that's the current situation (near the SL of 1.4003).
Nothing has changed since we talked earlier.
just one thing , now it stopped -117 pips
  • #2,840
  • Jan 26, 2009 4:39pm Jan 26, 2009 4:39pm
Quoting pitpiter
just one thing , now it stopped -117 pips

After a long trade that yielded +196.

Too bad there isn't a reverse buy-stop built into that S/L @ 1.4003.

And what is the rule that precludes that option?

My head is spinning with rules.

Thanks for any commentary.

Dr. D.
15 traders viewing now