FX-50 Great Scalping System | Page 99 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

The Great 05 Level Scalping System 110 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Blackdiamond System - Awesome scalping system (Coding Reqd) 9 replies

Average system + great discipline =great results? 44 replies

Attachments: FX-50 Great Scalping System
Exit Attachments

FX-50 Great Scalping System

  • #1,961
  • Mar 28, 2009 8:47am Mar 28, 2009 8:47am
Quoting Jazz1964
Sometimes...I want to forget about the rules.... and trade what I see...the ribbons

Jazz, what is this index you are trading?
And a question to all of you, how many trades do you get per day? I'm sure you noticed these ribbons filter many of the fxprime basic signals, you might even have days with no trades,I know you could say you have to wait for the good trades instead of over trading but my big problem with the basic fxprime was always the fact it misses lots of strong moves.
For example the big short friday on eur/usd, the market was already set up for short so the prime was perfect to take it but sometimes the move can happen from long area so until the cci turns red, the 1&5min ribbons get below the 15 &30 ribbons and all conditions are met for short, the market could go down 100 pips already and then it's too late to enter, I'm sure lots of you saw it before.
  • #1,962
  • Mar 28, 2009 10:02am Mar 28, 2009 10:02am
Hi Pipster,

On this chart there are some possibilities you may have look at:

1. The trendline on the chart, either drawn on price or drawn along side the Kijun/Tenkan. The cross provides an exit. However when you expect a possible bounce of Price (in this case made visual by Randy Candles) on the TF1 zone, you may decide to let it run. An other possibility is.... Place two short positions when beginning a High Prob Trade...... Close 1 trade when you feel unsecure at this point and .... Let the other one run and see if it develops further in your favor..... as would heave been the case here.

2. The upper FXPrime most of the time also provides good exits as you can see.

3. Another exit strategy is provided by the SMA. When Short.... SMA under the -67 line turning up from a trendline over the latest part of the SMA. You see an opening is being created with all exits.

4. Another one is provided by the blue BrainTrend4Sis dots.

Your question about entering a short above a single Pivot- or Fibline only can be done when there has been a bounce of price shortly before on that Fibline. If not don't go ahead and wait until you have seen a bounce. The next retry for Price to go down usually succeeds...... at least when there is nothing else in the way (i.e. Fib- Pivotline or ribbons).

Continuation of Price in the same direction as it did go before....... is especially most likely when Price now falls out of a triangle shape.... or rises up from from a triangle shape when price is rising of course.


Price falling out of or rising from a triangle always has some boost power to cross ribbons, Pivot- and Fiblines. There are four examples on this chart for re-entry this way. Take care that at the narrowing point of the triangle you see at least one bounce on either side before price starts breaking out of the triangle !!

Hope this helps, John

Quoting Pipster007
Hi John,
I have a couple of questions to understand the template better:
1)Do we have to wait for price to close above/below Kijun/Tenkan for buy/sell?
2)In the chart today after the 1st short, where is a good exit? Is it at the 1st pivot underneath? Or you wait till the condition you mentioned in post 1871 "The Kijun/Tenkan also helps identifying entries and exits when it exits/enters the TF1 zone ribbon almost simultaneously with price. "
I've shown this on the chart attached.
[font=&quot]3)...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 6.gif Size: 56 KB
  • #1,963
  • Mar 28, 2009 10:41am Mar 28, 2009 10:41am
Brian,

This could even be a major step forward using TFZones strategy for SwingTrading. Very cool indeed !!

The idea is as I understand this: This indicator should filter or.... look for High Prob Setups only.

This shouldn't be to difficult to create, I think (and hope), for basically what it has to do is verify the moments when TF1 Zone breaks above or below all other zones.

Finetuning this could be done using the V3.1 template idea by going one step further, i.e. when at the above mentioned situation the TickZone crosses above or below TF1 Zone.

When this indicator would be in operation and give a sound alert at the supreme moment of crossing you indeed have a very good chance of a High Prob Trade commencing.

Next open those charts of currency pairs you want to trade and wait for the sound alerts of this indicator...... And you have created a very sensitive system for SwingTrading.

Kinonen.... Being the developer of the magnificant Ribbons Indicator....... may we ask you one more time to do us an indicator favor? Provided you have some spare time.... could you help us out on this subject?

Looking forward to hearing from you, John

Quoting golden1
Would it be cool to anyone else here to have an indicator that looks like the kino buycount or 2 cci above...
  • #1,964
  • Mar 28, 2009 5:07pm Mar 28, 2009 5:07pm
Quoting John Edwards
Brian,


Kinonen.... Being the developer of the magnificant Ribbons Indicator....... may we ask you one more time to do us an indicator favor? Provided you have some spare time.... could you help us out on this subject?

Looking forward to hearing from you, John
if i have understood your request only now ; because i'm not often on this thread ...because i think it's useless , particularly on ranging trend ;and a sma50+2cci+ema34 make the same work !

so you want a filter ;
red when current bar is below tf1ribbon (while it is above rib5 & rib15)
green when current bar is above tf1ribbon (while it is above rib5 & rib15)
and yellow elsewhere

i can answer you that this indicator i have began to code it sat afternoon;
but i'm going far away (from France and my computer) on Monday ,it seems that it's difficult to do it, but perhaps i'll finished before

kino
  • #1,965
  • Mar 28, 2009 5:36pm Mar 28, 2009 5:36pm
Two things would be great. IF it was set by color:
red when the tf1 ribbon is BELOW all other ribbons
green when the tf1 ribbon is ABOVE all other ribbons
and yellow if anywhere in between

and then secondly.. alarm with pop up alert telling
which pair when the price for a long, closes ABOVE
the t1 ribbon when its above all other ribbons.

So only when it first breaks above tf1 and tf1
is above all other ribbons and the exact
same for a short alert when the price closes
below, drops under the tf1 ribbon and the tf1
ribbon is below all ribbons.

This would be truly great.

Correct John?

That's what I was thinking of..

Brian

So the colors would be red when price is below 27 thru 1620 MA
green when price is above all ma 27 thur 1620
and yellow otherwise? Is that an easier way to code
the first portion of the indicator? Not sure..just a question.

Quoting kinonen
if i have understood your request only now ; because i'm not often on this thread ...because i think it's useless , particularly on ranging trend ;and a sma50+2cci+ema34 make the same work !

so you want a filter ;
red when current bar is below tf1ribbon (while it is above rib5 & rib15)
green when current bar is above tf1ribbon (while it is above rib5 & rib15)
and yellow elsewhere

i can answer you that this indicator...
  • #1,966
  • Mar 28, 2009 6:21pm Mar 28, 2009 6:21pm
Thanks absolutely..yeah sounds good to me. I really like this thread
and now with the ribbons.. just love to be able to run on
more pairs and be able to focus on one chart when this alarm
goes off.

Brian

Quoting John Edwards
Brian,

This could even be a major step forward using TFZones strategy for SwingTrading. Very cool indeed !!

The idea is as I understand this: This indicator should filter or.... look for High Prob Setups only.

This shouldn't be to difficult to create, I think (and hope), for basically what it has to do is verify the moments when TF1 Zone breaks above or below all other zones.

Finetuning this could be done using the V3.1 template idea by going one step further, i.e. when at the above mentioned situation the TickZone crosses...
  • #1,967
  • Mar 29, 2009 8:45am Mar 29, 2009 8:45am
So the colors would be red when price is below 27 thru 1620 MA
green when price is above all ma 27 thur 1620
and yellow otherwise? Is that an easier way to code
the first portion of the indicator? Not sure..just a question.[/quote]


it"s more difficult than that!
no too difficult but whith so much parameters !
I need time but it 's in progress
later in the afternon oron monday i 'll finished it, because
now i'm with all family
bye

kino
  • #1,968
  • Mar 29, 2009 1:08pm Mar 29, 2009 1:08pm
Quoting kinonen
So the colors would be red when price is below 27 thru 1620 MA
green when price is above all ma 27 thur 1620
and yellow otherwise? Is that an easier way to code
the first portion of the indicator? Not sure..just a question.

it"s more difficult than that!
no too difficult but whith so much parameters !
I need time but it 's in progress
later in the afternon oron monday i 'll finished it, because
now i'm with all family
bye

kino[/quote]
im looking for #kino_3ma_ribbon?
  • #1,969
  • Mar 29, 2009 1:36pm Mar 29, 2009 1:36pm
Quoting avi
it"s more difficult than that!
no too difficult but whith so much parameters !
I need time but it 's in progress
later in the afternon oron monday i 'll finished it, because
now i'm with all family
bye

kino
im looking for #kino_3ma_ribbon?[/quote]


go post 1491
kino
  • #1,970
  • Mar 29, 2009 6:29pm Mar 29, 2009 6:29pm
Ok Kino sounds great. Look forward to it.

Brian

Quoting avi
it"s more difficult than that!
no too difficult but whith so much parameters !
I need time but it 's in progress
later in the afternon oron monday i 'll finished it, because
now i'm with all family
bye

kino
im looking for #kino_3ma_ribbon?[/quote]
  • #1,971
  • Mar 29, 2009 9:26pm Mar 29, 2009 9:26pm
[quote=John Edwards;2634571]Hi Pipster,

On this chart there are some possibilities you may have look at:

Hi John,
Thanks a lot for your reply. Will study what you have posted a few times to understand it better. Really grateful for all the advice and tips you provide.

Regards
  • #1,972
  • Mar 30, 2009 2:03am Mar 30, 2009 2:03am
Hi Kino,

You are right. Maybe your insights are different from the ones I have, but I hope analyzing the matter early this morning is helpfull. I have studied few examples where TF1 zone crosses above or under all other Zones. Indeed these are not all the same and certainly this doesn't happen all the time when TF30zone is being crossed, because one of the other zones (TF5, TF15) may already be above or under TF30).

So the priciple for this indic could be like this: If a crossing of TF1 occurs with any of the ribbons of the other zones at a certain price level...... simultaneously this indic checkes if the other zones are above or below that price level....

Say a crossing of one of the ribbons of TF1 zone occurs with one of the ribbons of TF15 (with Eurusd) at 1.3225....... next the indicator has to check whether TF5 and TF 30 are above or below this price level.

A crossing above this price level indicates a possible Long High Prob Trade range. A crossing below this price level now would indicate a possible Short High Prob Trade. Crossing back between any of the TFzones would mean a Non High Prob Trade range

Next A finetuning is necessary to secure early entries at these levels by having the check of the fastest zone (TickZone) crossing above or below TF1zone. This finetunecheck however also could be done by using the Kijun/Tenkan. It could even be better to use the Kijun/Tenkan for the finetunecheck.

So it is more difficult to create a reliable sensor indicator than we thought at first glance..... What do you think of it Kino?

John

Quoting kinonen
So the colors would be red when price is below 27 thru 1620 MA
green when price is above all ma 27 thur 1620
and yellow otherwise? Is that an easier way to code
the first portion of the indicator? Not sure..just a question.

it"s more difficult than that!
no too difficult but whith so much parameters !
I need time but it 's in progress
later in the afternon oron monday i 'll finished it, because
now i'm with all family
bye

kino[/quote]
  • #1,973
  • Mar 30, 2009 2:05am Mar 30, 2009 2:05am
You are welcome,

John

[quote=Pipster007;2636428]
Quoting John Edwards
Hi Pipster,

On this chart there are some possibilities you may have look at:

Hi John,
Thanks a lot for your reply. Will study what you have posted a few times to understand it better. Really grateful for all the advice and tips you provide.

Regards
  • #1,974
  • Mar 30, 2009 2:18am Mar 30, 2009 2:18am
If you can do it any other way..... using other indicators than the TFzones to locate a High Prob Trade range.... I think it's fine with all of us using TFzones.

However have a look at my previous post.... analyzing how it could be done using TFzones,

Meanwhile... Have a pleasant stay abroad.
Joh

Quoting kinonen
if i have understood your request only now ; because i'm not often on this thread ...because i think it's useless , particularly on ranging trend ;and a sma50+2cci+ema34 make the same work !

so you want a filter ;
red when current bar is below tf1ribbon (while it is above rib5 & rib15)
green when current bar is above tf1ribbon (while it is above rib5 & rib15)
and yellow elsewhere

i can answer you that this indicator...
  • #1,975
  • Mar 30, 2009 2:26am Mar 30, 2009 2:26am
Brian,

I did analyze the matter. Have a look at this.... one of my latest posts.
Do you have other suggestions / ideas?

John

Quoting golden1
Two things would be great. IF it was set by color:
red when the tf1 ribbon is BELOW all other ribbons
green when the tf1 ribbon is ABOVE all other ribbons
and yellow if anywhere in between

and then secondly.. alarm with pop up alert telling
which pair when the price for a long, closes ABOVE
the t1 ribbon when its above all other ribbons.

So only when it first breaks above tf1 and tf1
is above all other ribbons and the exact
same for a short alert when the price closes
below, drops under the tf1 ribbon and the tf1
ribbon is below all ribbons....
  • #1,976
  • Mar 30, 2009 2:57am Mar 30, 2009 2:57am
Right now happening on EursUsd. Two successive Shorts. Same principle as on last Friday.

Using triangles alongside the ribbons provides another very powerful tool to determine entries. To do so..... you draw two of the sides exactly alongside the (lower) ribbons of the TFzones as on this chart.

The upper TFzones "press" price down.... so this a strong indication for price to fall out of the triangle. When it does..... There is your short opportunity!

There are some more examples of this on last Fridays chart.

Cheers and have a pipfull week, John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 7.gif Size: 51 KB
  • #1,977
  • Edited 4:50am Mar 30, 2009 4:08am | Edited 4:50am
Nice to see people thinking about developing an alert indicator. Here are my thoughts.

We have two types of High Prob trades.
case 1. if price is between ribbons with enough pipdistance.....etc
case 2. if price is under/above all TF ribbons

general measurement: check for all TF Ribbon(1,5,15,30) if Ribbon minus price is positive or negative. So this are 4 checks. The 4 results are
a1 = negative or positive
a5 = negative or positive
a15= negative or positive
a30= negative or positive

In case 1. the indi compares
a.) if a1=positive, than check if pipdistance between price and Ribbons with negative results (a5, a15, a30) >35 pips. If yes, print red.
b.) if a1=negative, than check if pipdistance between price and Ribbons with positive results (a5, a15, a30) >35 pips. If yes, print green.

In case 2. the indi compares
if a1 AND a5 AND a15 AND a30 are positive; if yes print red
if a1 AND a5 AND a15 AND a30 are negative; if yes print green

-------------------------------------------------------------------------
Why do I say price? Because only than you have an early warning. That gives you the opportunity to make your homework on your entry decision.

I repeat this sentence of John:
Next A finetuning is necessary to secure early entries at these levels by having the check of the fastest zone (TickZone) crossing above or below TF1zone. This finetunecheck however also could be done by using the Kijun/Tenkan. It could even be better to use the Kijun/Tenkan for the finetunecheck.
I am not sure if the indicator should make such an examination for us. What do we want? We want an alert that tells us if there is a possible high prob entry. I think we should look if precise conditions are good enough for entry by ourselfs. It's not an EA...
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 44 KB
Trading S/R with PA only. No indicators anymore!
  • #1,978
  • Mar 30, 2009 4:40am Mar 30, 2009 4:40am
Anther follow up trade.

To have better usage of drawing triangles..... you may want to change Volume Factor on TF1 zone indicator too. Only change Volume factor of the lower Ribbon of TF1 Zone from 0.63 into 0.54

So it reads as follows :

MA1 Period: 27
factor1: 0.72
MA2 Period: 36
factor: 0.54

The setup of this trade is on the chart.

Cheers, John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 8.gif Size: 54 KB
  • #1,979
  • Mar 30, 2009 4:42am Mar 30, 2009 4:42am
Quoting John Edwards
Using triangles alongside the ribbons provides another very powerful tool to determine entries. To do so..... you draw two of the sides exactly alongside the (lower) ribbons of the TFzones as on this chart.
Nice trade setup!
Thanks!
Trading S/R with PA only. No indicators anymore!
  • #1,980
  • Mar 30, 2009 4:52am Mar 30, 2009 4:52am
Jazz,

This would be even better and suppose the setting of the TF1 zone could be adjusted..... You than still can adjust for Brian's original concept as well, i.e. the bigger scale High Prob Area's....

THX, John

Quoting Jazz1964
Nice to see people thinking about developing an alert indicator. Here are my thoughts.

We have two types of High Prob trades.
case 1. if price is between ribbons with enough pipdistance.....etc
case 2. if price is under/above all TF ribbons

[color=seagreen][color=seagreen][color=red][color=black]general measurement: check for all TF Ribbon(1,5,15,30) if Ribbon minus price is positive or negative. So this are 4 checks. The 4 results...
4 traders viewing now