Attachments: FX-50 Great Scalping System

FX-50 Great Scalping System

#2,061
Apr 7, 2009 3:02am Apr 7, 2009 3:02am

John Edwards
| Joined Oct 2008 | Status: Trader | 231 Posts

Jazz,

It's nice to see your research shows good and positive results. Thanks for explaining the methods you have been using for this.

John

Quoting Jazz1964

Disliked

I want to show you the results of a visual backtest. I did research on EURUSD with the v3.1 template. Testperiod March 5th to April 6th, equal to 22 trading days.

FIRST backtest: PRICE above or under ALL TF RIBBONS:
For this type of trade I searched for situations where
1. price broke out from all TF Ribbons,
2. price made a pullback to the TickRibbon
3. and after that price went away from TickRibbon
4. AND ALSO TickRibbon broken out from other TF Ribbons.

Profitable: 30
[color=blue]Breakeven/Loss: 21...

Ignored

#2,062
Apr 7, 2009 3:48am Apr 7, 2009 3:48am

John Edwards
| Joined Oct 2008 | Status: Trader | 231 Posts

Many of us have started the same way..... and I agree a simple chart is often better than a complicated chart with too many indicators and certainly underneath.

As you stated having read the whole thread, I conclude that you are willing to study and invest in knowledge.

The advantage of using TFZones over other Trading Systems is that you can quite clearly see where there is going to be support and resistance. TFZones show you dynamic support and resistance, i.e. it shows you where these are to be expected in relation to both time and price. Fibo- and Pivotlines only show price levels as horizontal lines.

Actually the TickZone (fastest zone) and the next one TF1Zone in the V3.1 template do more or less the same as the basic indicators indicators on your chart.

Trading is not only a matter of getting entries and exits right, but also very much needs "target determination", i.e. at the moment you pull the trigger you also need to have some idea of how far that trade may go.....

There are many systems being used for target determination, like trendlines, fibs, pivots, Elliot Wave, Wolfewave, etc. TFzones too come in quite handy here..... you don't have to draw anything..... they simply are there all the time in each and every chart. Of couse you have to study how it works or maybe also have to get used to it, but than that is no different from any other trading system...

So what you could do is set up another chart as well using TFZones and switch between charts. Jazz1964 also trades that way.... Maybe that helps you to discover the power of the TFZones.

Good Luck, John

Quoting lotabulstool

Disliked

Perhaps you didn't actually read my post and the request I made. It was not a request for opinions on ea's, or brokers, or the FX-50 system.

Perhaps you didn't notice that I mentioned spending countless hours over the past few days reading all the posts in this thread and also the earlier threads concerning the FX-50 system. This is no small task. In fact I would dare say that the majority would not even consider it. However, I did and that means I am aware of the current variant of the FX-50 system which in your stated opinion is "an advanced...

Ignored

#2,063
Apr 7, 2009 3:54am Apr 7, 2009 3:54am

John Edwards
| Joined Oct 2008 | Status: Trader | 231 Posts

Max,

I am quite occupied in a different project at the moment, but will absolutely get back to you when I have tried these rules in trading. By the end of this week you'll have my reply.

Thanks for all the work and organizing,

John

Quoting maxzeus

Disliked

After closely analyzing all the screenshots and posts, and my habit of organising everything and that i like things simplified

So heres a simple & easy Guide for the FX50 v3 JohnEd strat that i also follow with success (will post full PDF version soon this month)

PS why FX50 v3, well v1 was based on FXP and fxtrading24 started the fx50 thread with his rules but F4 (v2) and JohnEd (v3) did different FX50 versions still based with CCI's as the main indi, they both are succesfull as strategy

** and yes i do trade both EUR/USD - F4 & GPB/USD...

Ignored

#2,064
Apr 7, 2009 4:10am Apr 7, 2009 4:10am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Ok, This is not a trade with TF1 undercrossing all other TF ribbons.
I took it.
TickRibbon under widening TF1 Ribbon
TF15 Ribbon leaving
KijunTenkun allready for some time above price
TF5 Ribbon Widening, so not too big support
Yellow dot
both FXPrime red
CCi strong red
no pivots quick on the way down. L3 isn't my concern.

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Trading S/R with PA only. No indicators anymore!

#2,065
Apr 7, 2009 4:55am Apr 7, 2009 4:55am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

somebody who pulled the trigger?

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Trading S/R with PA only. No indicators anymore!

#2,066
Apr 7, 2009 5:33am Apr 7, 2009 5:33am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Quoting billye

Disliked

jazz, what fundamentals to cause stocks drop for today? any idea?

Ignored

Hi Billye,
A little bit offtopic....
I can't find any news that caused the stocks falling. So it's pure techical.
It was in the Ribbon charts....!

Trading S/R with PA only. No indicators anymore!

#2,067
Apr 7, 2009 9:00am Apr 7, 2009 9:00am

kinonen
| Joined Feb 2008 | Status: Trader | 570 Posts

here is the kino's indic close above/under ribbons
please before ; let's wait for John edwards to try it ! thanks
after that i'll send the mq version

RED above all 3 ribbons
GREEN below all 3 ribbons
YELLOW elsewhere

tell me if it's ok and after i'll make some changes, alerts , calculation if more than 35 pips between etc ...

kinonen

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Attached File(s)

#kino_close_above_ribbons.ex4 7 KB | 584 downloads

#2,068
Apr 7, 2009 10:31am Apr 7, 2009 10:31am

kinonen
| Joined Feb 2008 | Status: Trader | 570 Posts

Quoting kinonen

Disliked

here is the kino's indic close above/under ribbons
please before ; let's wait for John edwards to try it ! thanks
after that i'll send the mq version

RED above all 3 ribbons
GREEN below all 3 ribbons
YELLOW elsewhere

tell me if it's ok and after i'll make some changes, alerts , calculation if more than 35 pips between etc ...

kinonen

Ignored

some of you have uploaded the indy , it seems that it's working well , but as i told you just before , wait for John's agreement !

kino

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#2,069
Apr 7, 2009 10:36am Apr 7, 2009 10:36am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Quoting kinonen

Disliked

some of you have uploaded the indy , it seems that it's working well , but as i told you just before , wait for John's agreement !

kino

Ignored

Hi Kino,
As allways: he has done the job!
thanks for the indi! I will take a look at it soon, haven't downloaded it yet.
it will be geat for many people who have to watch different pairs.
I hope you have the opportunity for further development.
thanks again!

Trading S/R with PA only. No indicators anymore!

#2,070
Apr 7, 2009 10:38am Apr 7, 2009 10:38am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

RED BELOW all 3 ribbons
GREEN ABOVE all 3 ribbons
YELLOW elsewhere

Trading S/R with PA only. No indicators anymore!

#2,071
Apr 7, 2009 10:48am Apr 7, 2009 10:48am

kinonen
| Joined Feb 2008 | Status: Trader | 570 Posts

Quoting Jazz1964

Disliked

Hi Kino,
As allways: he has done the job!
thanks for the indi! I will take a look at it soon, haven't downloaded it yet.
it will be geat for many people who have to watch different pairs.
I hope you have the opportunity for further development.
thanks again!

Ignored

it was not too difficult finally , but all the different buffers on iCustom are difficult to associate and particularly with 3 ribbons !
you have sometimes spoken of ribbon30 ! should i add also this 4th ribbon ?

this one works with any pair , but i'll add alerts popup with the currency pair's name later ; the most imprtant is to see if the settings are good !
kino

#2,072
Apr 7, 2009 10:51am Apr 7, 2009 10:51am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Quoting kinonen

Disliked

it was not too difficult finally , but all the different buffers on iCustom are difficult to associate and particularly with 3 ribbons !
you have sometimes spoken of ribbon30 ! should i add also this 4th ribbon ?

this one works with any pair , but i'll add alerts popup with the currency pair's name later ; the most imprtant is to see if the settings are good !
kino

Ignored

people who use v3.2 do have the TF30 Ribbon on their chart, so yes it's better if you would add it. But I think you can wait with that one, till we've defined improvements, okay? I will check the indi tonight.

Trading S/R with PA only. No indicators anymore!

#2,073
Apr 7, 2009 1:44pm Apr 7, 2009 1:44pm

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Kino,
the indicator is doing the way it should do, great. You got part 1. working conform request. Well, I know I am not John Edwards and you asked to wait for his approval. Sure fine by me.
As a result of my backtest from post #2045, I would suggest to carrefully define the desired functions of the indicator again. As a help we can use the Guide from Maxzeus at post #2056, after being finetuned by John.

I would like to bring to attention the question what we basically desire. Should the indi be an early alert, or should it tell us the 'exact' entry?
I don't want to give the final answer here, but my idea is that it should alert us before a good entry occurs. So maybe, the indi should produce different colours for different stages of alert....E.g.:
- Violet bar when price <> all
- red bar when also KijuTenkan or TF1..........or.....

I think some people have to do some homework together.

Trading S/R with PA only. No indicators anymore!

#2,074
Apr 7, 2009 2:07pm Apr 7, 2009 2:07pm

John Edwards
| Joined Oct 2008 | Status: Trader | 231 Posts

Kino,

I just came home and still have to test this indicator, however the first looks of it are splendid! Tomorrow morning CET time I'll start testing.

Thanks for now..... You are a Magnificant Artist !!!

John

Quoting kinonen

Disliked

here is the kino's indic close above/under ribbons
please before ; let's wait for John edwards to try it ! thanks
after that i'll send the mq version

RED above all 3 ribbons
GREEN below all 3 ribbons
YELLOW elsewhere

tell me if it's ok and after i'll make some changes, alerts , calculation if more than 35 pips between etc ...

kinonen

Ignored

#2,075
Apr 7, 2009 2:14pm Apr 7, 2009 2:14pm

golden1
| Joined Aug 2008 | Status: Trader | 724 Posts

Are first, awesome first step Kino. this is perfect, as described.

Second, the next stage, I see as keeping this bar as is
and the pop up alerts take it to the next level, telling
when above kikun, tick and tf5 for example. and now you
can look and see the bar and confirm yes its green ok
look real close and get ready to go long... or its yellow,
let me make sure there is enough space before I
enter to the next ribbon and then if so, I will look
to go long.

So alerts is the idea, telling all the basic rules have been met now check your
charts and see if you agree and then when for exact entry.
Third, yes Kino that would be great, if you will add the 30 minute
ribbon, later when you can get to it.

Brian

Quoting Jazz1964

Disliked

Kino,
the indicator is doing the way it should do, great. You got part 1. working conform request. Well, I know I am not John Edwards and you asked to wait for his approval. Sure fine by me.
As a result of my backtest from post #2045, I would suggest to carrefully define the desired functions of the indicator again. As a help we can use the Guide from Maxzeus at post #2056, after being finetuned by John.

I would like to bring to attention the question what we basically desire. Should the indi be an early alert, or should it tell us the 'exact'...

Ignored

#2,076
Apr 7, 2009 2:28pm Apr 7, 2009 2:28pm

kinonen
| Joined Feb 2008 | Status: Trader | 570 Posts

Quoting John Edwards

Disliked

Kino,

I just came home and still have to test this indicator, however the first looks of it are splendid! Tomorrow morning CET time I'll start testing.

Thanks for now..... You are a Magnificant Artist !!!

John

Ignored

thanks a lot John, you are our teacher ; i'm only the hand
(and when you say artist you haven't seen all my all paintings ! i'll show you them later too)
i 'll make some modifications later
good bye

kino

#2,077
Apr 8, 2009 7:27am Apr 8, 2009 7:27am

ravulapalli
| Joined Nov 2008 | Status: Trader | 25 Posts

Hi,

i am interested with ribbon indicator.Can you posted me Ribbon indicator please.

Thanks,
ray

#2,078
Edited 7:52am Apr 8, 2009 7:49am | Edited 7:52am

Stitch961
| Joined Apr 2007 | Status: Trader | 396 Posts

Quoting ravulapalli

Disliked

Hi,

i am interested with ribbon indicator.Can you posted me Ribbon indicator please.

Thanks,
ray

Ignored

page 100, post 1491, or click on paper clip icon & search.

Hej.

#2,079
Edited 8:03am Apr 9, 2009 2:33am | Edited 8:03am

John Edwards
| Joined Oct 2008 | Status: Trader | 231 Posts

Kino

Your new indicator nicely signals arrival of Major Breakouts and High Prob Trades. Here is a new template. Added are the TF30 zone and also #Spudfibo and ZigZagPointer. The #Kino_close_above_ribbons indicator doesn't take the TF30Zone into acount, therefore "above all ribbons means here above TickZone + TF1Zone + TF5Zone + TF15Zone. You will notice that TF30Zone is of less importance for entry decision and actually is more or less only usefull to identify support and resistance at greater distances. As such the edges of TF30Zone (=TF30Ribbon) most of the time work more the same as Pivot-and Fiblines.

The #Kino_close_above_ribbons indicator does indeed point to a breakout at hand. In this case there are 2 breakout trials above all ribbons that stop under the #SpudFibo line..... the third one succeeds.

Now this very important: The 3-d one is the one you want to have to enter your trade... Why? This is the only breakout that fullfils all requirements at point 4, because here TF1Zone (CornflowerBlue and DeepPink coloured edges) is rising after a retracement first...... above all other TFZones and simultaneously the TickZone (DarkGreen and DarkOrange edge) has made a small retracement from above towards TF1 Zone.

This fullfilment is the reason why now Price breaks above the #SpudFibo line and Price will continue to rise untill it reaches the next level of resistance..... most of the time provided by next level of Fibo or Pivotlines.

Kino's new indicator beautifully marks the entry point together with the break in the upper FXPrime_V2 indicator.

ZigZagPointer is only being used to point forward to possible valid entry points marked by the BrainTrend4Sig.

There is however one snag using #Kino_above_ribbons. I think because of the Ribbons it uses quite a lot of CPU or of graphical display and therefore slows downs MT4 performance...... So Kino if you could change that by using the simple T3MA indicator for this purpose in your #Kino_above_ribbons indicator...... that might solve the MT4 performance issues.

B.T.W. Looking forward to the .mq4 version.

Anyway here is the chart to prove the breakout example, a new template + ZigZagpointer + #Spudfibo.

All other indicators necessary for this template can be found on page 100 of this thread

Hope you like it, John

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