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Traffic Light System

  • #321
  • Feb 6, 2009 9:08am Feb 6, 2009 9:08am
FxCba,

That would be awesome if you can re-create the goldminer signal.

I've attached two pictures which are on the 4 hour. I've looked through quite a few systems and even with the re-painting my demo account is up almost 50% for the past 2 weeks trading just two pairs and with a 50 pip stop loss.
Attached Image (click to enlarge)
Click to Enlarge Name: goldminer_GBP_4hr.gif Size: 31 KB
Attached Image
  • #322
  • Feb 6, 2009 9:24am Feb 6, 2009 9:24am
Thank you Globalinvest and JHoffmann

I'll compare your graphs with mine's
let you know how's going
  • #323
  • Feb 6, 2009 2:22pm Feb 6, 2009 2:22pm
Hello guys,

I've tried the original type of system for two days from february the 4th. The original type of system represents Daily TF and three indicators: HMA, goldminer and RSI. Actually, I was afraid of indicators to repaint but just take it for granted and it didn't make me any problems. If I have spear time in weekend, I will get a little bit deeper into the interpretation of indicators and try to see how they react to eath other. With regards to the results, they are awesome. Maybe it's just a luck?! Don't know. I will see in the next few weeks of demoing. But it have already made 190 pips in 4 traders. I'm just looking at this in the very..very critical point of view and trying not to get too enthusiastic.

Cheers everybody and have a wild weekend
Attached Image (click to enlarge)
Click to Enlarge Name: tf.gif Size: 55 KB
  • #324
  • Feb 6, 2009 10:13pm Feb 6, 2009 10:13pm
globalinvest how did your forward test of RSI/HMA go? What is the repaint on them like?
  • #325
  • Feb 7, 2009 4:51am Feb 7, 2009 4:51am
Quoting Mindaugas
Hello guys,

I've tried the original type of system for two days from february the 4th. The original type of system represents Daily TF and three indicators: HMA, goldminer and RSI. Actually, I was afraid of indicators to repaint but just take it for granted and it didn't make me any problems. If I have spear time in weekend, I will get a little bit deeper into the interpretation of indicators and try to see how they react to eath other. With regards to the results, they are awesome. Maybe it's just a luck?! Don't know. I will see in the next few...

Mindaugas what sort of stops were you using
  • #326
  • Feb 7, 2009 7:18am Feb 7, 2009 7:18am
HMA is alright. RSI - repainted 1 bar backwards, example mid-bar it changed from red to yellow with price action, and one bar later, yellow changed to green.
Doesn´t really matter with this strategy as you already buy on yellow.
But using a regular RSI with a 50 line would work just as fine.
You could even skip the goldminer indicator and just use ex:
HMA setting at 12. RSI setting at 8 with a line at 50 and use just these 2 indicators. Seems fine on higher timeframes.
  • #327
  • Feb 7, 2009 3:57pm Feb 7, 2009 3:57pm
Quoting JHoffmann
FxCba,

That would be awesome if you can re-create the goldminer signal.

I've attached two pictures which are on the 4 hour. I've looked through quite a few systems and even with the re-painting my demo account is up almost 50% for the past 2 weeks trading just two pairs and with a 50 pip stop loss.
What other pair are you using? I have good success with the Eur/usd, but have been reluctant to try any others as of yet.
  • #328
  • Feb 7, 2009 6:13pm Feb 7, 2009 6:13pm
Quoting globalinvest
HMA is alright. RSI - repainted 1 bar backwards, example mid-bar it changed from red to yellow with price action, and one bar later, yellow changed to green.
Doesn´t really matter with this strategy as you already buy on yellow.
But using a regular RSI with a 50 line would work just as fine.
You could even skip the goldminer indicator and just use ex:
HMA setting at 12. RSI setting at 8 with a line at 50 and use just these 2 indicators. Seems fine on higher timeframes.
globalinvest, when you say "higher timeframes", what do you mean, daily and more?
Regards
  • #329
  • Feb 7, 2009 9:43pm Feb 7, 2009 9:43pm
Well... maybe I used the wrong term, as I used 5min charts for a while.
I meant 1hour and upwards.
  • #330
  • Feb 8, 2009 6:27am Feb 8, 2009 6:27am
Quoting fugly
Mindaugas what sort of stops were you using
To avoid any serious damage at first when I open the trade I put simbolicaly 100 pips SL. When the trade goes my way 75 pips I put SL at the open price. When the trade reaches 150 pips my SL is moved 100 pips from the open price in the same direction as the trade. And so on..
The 1st trade did what it have to do The 2nd and the 4th trade(pairs usdchf, gbpchf) was closed because of outcoming news and the weekend. Besides, trades didn't show any enthusiasm to ride. And the last one was quite tricky. I let it ride. But when the news come the pair just droped and touched my SL which was the open price. After few minutes GU shot up and got to the north. GU likes to tease traders

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: tf.jpg Size: 33 KB
  • #331
  • Edited 12:07pm Feb 8, 2009 11:40am | Edited 12:07pm
It means that this 50% up in your account is due to other systems but not to traffic light ? or it means that you have a 50% up due to the traffic light system but working in the 4H TF using a 50 pip SL?

Regards

P.D. Sorry because I typed wrong you user name, the correct is JHooffman, but I could not edit.
Quoting JHoffmann
FxCba,

That would be awesome if you can re-create the goldminer signal.

I've attached two pictures which are on the 4 hour. I've looked through quite a few systems and even with the re-painting my demo account is up almost 50% for the past 2 weeks trading just two pairs and with a 50 pip stop loss.
  • #332
  • Feb 8, 2009 6:31pm Feb 8, 2009 6:31pm
Hello All,

Here are my trades so far, I will review later to see if anything else stands out to trade.

You may notice I have changed the way I am looking at the charts. The last couple of weeks of poor trades has got me thinking about how I determine which indicators are primary and which are secondary, and what is the best way to look at a chart to see which pairs to trade and which way to go. Before I posted this method I had started out using a CCI indicator that looked at two periods and displayed color bars, like the RSI. But I never really thought it added anything to the base indicators (HMA, RSI, Goldminer). Anyway I started looking at the CCI again and got the idea of displaying it as an overlay to the RSI from anpther thread. Anyway, I think this might give a better sense of where trades might be going so to give a better idea of when to get in and out. I will be playing with it for a while to see how it does for me in live trading. If it proves successfull, I will put out a full explanation for all.

The indicator on the bottom of the chart is just something I'm playing with, I'm not really thinking of incorporating it - I want to keep the indicators to a minimum.

Mitch
Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 55 KB
  • #333
  • Feb 8, 2009 6:48pm Feb 8, 2009 6:48pm
Quoting mitchp
Hello All,

Here are my trades so far, I will review later to see if anything else stands out to trade.

You may notice I have changed the way I am looking at the charts. The last couple of weeks of poor trades has got me thinking about how I determine which indicators are primary and which are secondary, and what is the best way to look at a chart to see which pairs to trade and which way to go. Before I posted this method I had started out using a CCI indicator that looked at two periods and displayed color bars, like the RSI. But I never...
Mitch How did you get the ATR in the Goldminer and to show at the Top Left?
My Email For Help: [email protected]
  • #334
  • Feb 8, 2009 8:05pm Feb 8, 2009 8:05pm
Quoting tcmm
Mitch How did you get the ATR in the Goldminer and to show at the Top Left?
I'm using the indicator "ATM in Pips" and I just dragged it onto the Goldminer indicator and that's what you get. If you want the indicator I'd be more than happy to attach it.

Mitch
  • #335
  • Feb 8, 2009 8:37pm Feb 8, 2009 8:37pm
Dibanos,

I'm using the Traffic Light only system on the EUR/USD and GBP/USD. As you can see in the 4 hour timeframe, a long signal was given at 0800 Friday morning on the EUR/USD. I got in at 1.2827 with the current quote of 1.2930 and a recent high of 1.2992.

Interesting note about goldminer for anybody that cares. Apparently this system was put together and curve matched for USD/JPY. I've looked at the current statistics for this pair and it has performed poorly in the recent past.
  • #336
  • Feb 9, 2009 12:42am Feb 9, 2009 12:42am
Quoting mitchp
I'm using the indicator "ATM in Pips" and I just dragged it onto the Goldminer indicator and that's what you get. If you want the indicator I'd be more than happy to attach it.

Mitch
Yes if you can that would be great if you can attach it.

But set the ATR at 5 when you put your cursor on the candle and open the data window it tells you how much that candle should make it works.
My Email For Help: [email protected]
  • #337
  • Feb 9, 2009 7:04am Feb 9, 2009 7:04am
Here is the ATR in Pips indicator
Attached File(s)
File Type: mq4 ATR in Pips.mq4   2 KB | 451 downloads
  • #338
  • Feb 9, 2009 7:32am Feb 9, 2009 7:32am
Ups I did it again
Attached Image
  • #339
  • Feb 9, 2009 9:23am Feb 9, 2009 9:23am
mitch all the trades you took seem to have worked out

though the initially drawdown was quite high, did you stick with it?
  • #340
  • Feb 9, 2009 10:21am Feb 9, 2009 10:21am
Quoting fugly
mitch all the trades you took seem to have worked out

though the initially drawdown was quite high, did you stick with it?
Unfortunately I have taken such a beating these last couple weeks (all because I didn't stick with my trades and let the huge draw-down get to me) I didn't stick with them - when will I ever learn. So now I'm waiting till end of day to jump back in and hopefully get some $$ back.

My problem has been that I'm entering on Sunday, which isn't necessary a bad thing, I just seem to hit these huge swings lately. Ultimately what I want to do is get into a trade as the CCI is crossing the O line (either up or down) and have my other indicators agree with the trade direction. Then ride the trend for as long as it last and reverse on the next signal - and here's the important part - not exiting just because it's Friday.

I believe in this method, you just have to find the best way to trade it (your style). It will give you the pips, just have faith.

Mitch
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