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The Force 5min system

  • #2,461
  • Mar 13, 2009 7:28pm Mar 13, 2009 7:28pm
Quoting FX_Discipulo
Note where I place a huge white arrow on your chart. Would this considered a double bottom?
I see the white arrow, certainly not a DB there, but looks similiar the way I highlighted the retrace which almost stopped me out. It is probably a short term fibo level in there where the bulls came in again.The next buy trade was good because a TL had been formed and I simply waited for a signal immediately after price bounced off the TL.

Quote
...sometimes the markets are moving rapidly and will not retrace for a double top/bottom, what may signal you to jump in

I agree doubles forming on S/R levels are easy to see and easy to trade. What do we do when there is no double ? We have to look for trendline or fibo (tests, retests, breaks, fake breaks, bounces, rejects) that kind of thing, a lot trickier to get right imo. The good news is the 5min chart is typically rather good for "clear open V shaped doubles" that you cannot see on higher TFs.

Quote
...I thought would bounce off the daily open of FXDD. Instead, I got stuck in that trade for nearly 3 hours and ended up losing pipsl I guess things were very quiet and there was no volume. How can I avoid wasting time like this?

The Asian session you were trading can be very good or flat and dangerous. You struck it on a flat and dangerous day. I give trades about 1 hour to reach +20 and BE. If price cannot move that much in one hour then the market conditions are simply not right so I exit at BE or above if possible.

Study the Asian opening times (Sydney, Tokyo, Hong Kong, Moscow) and try to correlate that knowledge with what you see in PA. The other end of the day after London Close is a similar story, can be excellent momentum but when it is not there is nothing a trader can do except stay out and wait for conditions to improve.

I make as much money outside London's session as I do during it. So you do not have to trade London, but it does become quite addictive ! Enjoy! RD
  • #2,462
  • Mar 13, 2009 7:36pm Mar 13, 2009 7:36pm
Quoting sami772
Any One Can Give Me The Link Of The Ea Of This Strategy
Welcome to the The Force 5min (aka Force5)

UpdateStops is the only EA used with Force5.
It manages trades that you open manually.

See post 2439 for the current version.
http://www.forexfactory.com/showpost...postcount=2439
  • #2,463
  • Mar 14, 2009 5:38am Mar 14, 2009 5:38am
Inserted Video
  • #2,464
  • Mar 16, 2009 5:33am Mar 16, 2009 5:33am
Quoting robdee
Another big day trading Force5. Doubles on Fibos ruled the day.

Attachment

G-Man having a very hard time trying to think in terms of 'trades not to take'.

The one loser (-15) was when I didn't wait for a double to form. Another almost loser was for the same reason. RD

Robdee,

Thanks again for posting your charts. They are great to learn from. I m wondering if you could tell me whether your fibos are automatically drawn or manually done? If manually, how do you set them up?

Many thanks for your help.

fb
  • #2,465
  • Mar 16, 2009 5:31pm Mar 16, 2009 5:31pm
Quoting fboy
...whether your fibos are automatically drawn or manually done? If manually, how do you set them up?
I prefer manual fibos. Usually that means prev day high/low. Sometimes pull it back to a prev swing high (not the ultimate day high) if I see that PA is responding well to that particular fibo. Often I reach a point where I think, this is a mess, so I re-apply the template to clean it all up, and start over again.

More ideas: My ideal is to see price break a high, extend the move beyond the 127 fibo but not reach the 162. Then there will be a pullback to 38 or 79 before trend continues. If it reverses exactly on one of the fibo extensions then that is usually the end of that wave and a reversal of trend is likely. RD
  • #2,466
  • Mar 16, 2009 7:46pm Mar 16, 2009 7:46pm
Some pretty decent moves for a Monday. I quit for the day after CPI news broke through 1.3000 and my channel ceiling. That one took me by surprise. News seldom breaks a good technical setup.

Bounce from the channel floor is just the same as a bounce from an existing TL.
The only difference is I've used a channel instead of a trendline to show it.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_16mar2009_force5.gif Size: 19 KB


Note: nc means 'not confirmed', in other words price did not go past the signal candle in the right direction.
  • #2,467
  • Mar 18, 2009 12:55pm Mar 18, 2009 12:55pm
For those interested in displaying the daily open & daily/weekly/monthly high/low levels on their chart.
Can be useful when looking for S/R at these areas.

HR
Attached File(s)
File Type: mq4 DayOpen.mq4   2 KB | 560 downloads
File Type: mq4 ___Daily-Weekly-Monthly_Hi-Low.mq4   20 KB | 549 downloads
  • #2,468
  • Mar 18, 2009 6:52pm Mar 18, 2009 6:52pm
Thank you Highroller!!!!!


Quoting highroller
For those interested in displaying the daily open & daily/weekly/monthly high/low levels on their chart.
Can be useful when looking for S/R at these areas.

HR
A woman drove me to drink, and I forgot to thank her
  • #2,469
  • Mar 18, 2009 9:40pm Mar 18, 2009 9:40pm
Quoting highroller
For those interested in displaying the daily open & daily/weekly/monthly high/low levels on their chart.
Can be useful when looking for S/R at these areas.

HR
Thankyou


But is the chatroom still here?!?
Thank you
  • #2,470
  • Mar 18, 2009 11:02pm Mar 18, 2009 11:02pm
Quoting wltam
Thankyou


But is the chatroom still here?!?
Thank you
Yes, chatroom is still here...see link below:

http://www.vforce.tk/

Note: We've found it's best to use Firefox browser as the chat shows a black screen when using Internet Explorer.
I don't think this problem has been resolved yet.

HR
  • #2,471
  • Mar 19, 2009 1:10am Mar 19, 2009 1:10am
Quoting highroller
Yes, chatroom is still here...see link below:

http://www.vforce.tk/

Note: We've found it's best to use Firefox browser as the chat shows a black screen when using Internet Explorer.
I don't think this problem has been resolved yet.

HR
From my experience it's the best to use a chat program like pidgen, xchat or others. I use pidgen (here you can use also other protocols not only irc).
What's the advantage? You have all your chat rooms available at once place, your browser is not loaded with too many windows.

Website: www.pidgen.com
 Server for chat room: irc.ircforex.com
room name: #theforce

cheers robBroker
  • #2,472
  • Mar 19, 2009 2:20am Mar 19, 2009 2:20am
Quoting robBroker
From my experience it's the best to use a chat program like pidgen, xchat or others. I use pidgen (here you can use also other protocols not only irc).
What's the advantage? You have all your chat rooms available at once place, your browser is not loaded with too many windows.

Website: www.pidgen.com
 Server for chat room: irc.ircforex.com
room name: #theforce

cheers robBroker
thank you again
  • #2,473
  • Edited 1:07pm Mar 19, 2009 6:09am | Edited 1:07pm
I changed the line style of the pivot indicator as you can see in the image. The red lines are the pivot lines (the fibs are green and not changed). They move with the candles, so some traders maybe don't like it. Just redraw the chart.
correction1: i shifted the line to the correct value
correction2: if you want to add long lines to your chart, change the parameter drawLines to TRUE.
Here is a pic from the chart including the indicator:
http://de.tinypic.com/view.php?pic=xgfz7m&s=5

image source: http://de.tinypic.com/view.php?pic=xgfz7m&s=5

Ps. in this version you can't see the daily pivots. i use this indicator for daily pivots: http://www.forexfactory.com/attachme...02009%202:08pm
Pss. in this Pivot Points Multiframe the daily pivot line style is not changed.
Attached File(s)
File Type: mq4 AutoDayFibs.mq4   10 KB | 653 downloads
File Type: mq4 Pivot Points Multitimeframe.mq4   49 KB | 623 downloads
  • #2,474
  • Mar 19, 2009 11:07am Mar 19, 2009 11:07am
robB,

In your indicator, the values for monthly and weekly pivots and DO all correct but the position of the line does not correspond to it. Is it because u put dashes after the text ?
Pivot Boss in the making~
  • #2,475
  • Edited 1:36pm Mar 19, 2009 1:01pm | Edited 1:36pm
You are correct. The line is not set to the correct value, it's a little bit shifted to the downside. So i did a new version. Now it nearly hits the correct value.
I'm not sure if it works for 5 digit broker, but i could change it if you use one. If you like to use the daily fibs with this style i also could change it. Takes only some time.
Btw. if you want to draw the line, just change the parameter drawLine to TRUE.

Ps. this is a scratch solution. just working properly for the 5m chart.
Attached File(s)
File Type: mq4 Pivot Points Multitimeframe.mq4   49 KB | 532 downloads
  • #2,476
  • Mar 24, 2009 8:40am Mar 24, 2009 8:40am
May be it will be useful. I combine AudioAlerts indicator (thanks to Robdee) with Trix indicator from THV thread. Conditions: Buy signal when fast and slow Trix are green, Sell: when red. May be it will help to filter some bad trades.
Additional parameter: ArrowDistance =150 (default for 5 digits brokers) must be changed to 15 for 4 digits.
Attached File(s)
File Type: mq4 AudioAlerts_trix.mq4   12 KB | 665 downloads
File Type: ex4 THV3 Trix v4.01 Div.ex4   30 KB | 656 downloads
  • #2,477
  • Mar 24, 2009 8:54am Mar 24, 2009 8:54am
Sample chart with new indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 35 KB
  • #2,478
  • Mar 24, 2009 3:47pm Mar 24, 2009 3:47pm
Hi folks, sorry for the noob question. I'm not really a noob but I just discovered this thread a couple of days ago and it's become very long to read the whole thing.

In the attached screen cap, what's the interpretation of the circled annotation? I'm familiar with the method and understand the macd, stoch and ema interactions. I just couldn't figure out this last adornment on the chart.

Thanks, this is a great thread.

SG

http://s4.tinypic.com/ncbezb.jpg
You are in a maze of twisty little passages, all alike.
  • #2,479
  • Mar 25, 2009 2:15am Mar 25, 2009 2:15am
Quoting snl
Sample chart with new indicator.
Chart looks good but Im afraid Forexjedi and Robdee may not be happy with this, you know they always want to keep the thread focused the force5 system but I will try the indicator anyway
Add value everyday in Pips
  • #2,480
  • Mar 25, 2009 2:28am Mar 25, 2009 2:28am
Quoting stevegee58
Hi folks, sorry for the noob question. I'm not really a noob but I just discovered this thread a couple of days ago and it's become very long to read the whole thing.

In the attached screen cap, what's the interpretation of the circled annotation? I'm familiar with the method and understand the macd, stoch and ema interactions. I just couldn't figure out this last adornment on the chart.

Thanks, this is a great thread.

SG

http://s4.tinypic.com/ncbezb.jpg
Welcome here SG
Those notation you cirled to the best of my knowledge does not have any influence on the signal, I think its just one of the properties of the MACD coloured indicator, and any way now the force system has developed to a level where the sound elert analyses all the right conditions for a signal for you and gives you the signal. If you really want to know all the basic rules for a valid signal in this sytem I think you should go to the earlier pages of this thread and I suggest you do.
Happy trading
Pipstud
Add value everyday in Pips
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