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ICCE. Bemac's Fib. Reverse Engineered

  • #21
  • Apr 9, 2009 9:37pm Apr 9, 2009 9:37pm
Quoting kenmania
My suspicion is that it's going to run back to the channel that Bemac posted earlier.
My version of today's channel is a little different.
Attached Image (click to enlarge)
Click to Enlarge Name: icce 4-9-09.gif Size: 11 KB
  • #22
  • Edited 10:07pm Apr 9, 2009 9:53pm | Edited 10:07pm
Quoting TradeWell
My version of today's channel is a little different.
Very tough to decide but. Ignore The Icce Lines & Inspect The Pa & it may be a little clearer.
Utilize ICCE {in it's present form} Only as a Guideline to Potential Targets.
  • #23
  • Edited Apr 10, 2009 12:37am Apr 9, 2009 10:12pm | Edited Apr 10, 2009 12:37am
My interpretation of the todays channel is this, 1. TP after break of the channel on 38.2 set SL to BE and second TP on 23.6%.

This is a paper trade, but my question to Bemac, is this way to trade it OK?

BTW: I see it's almost the same as TW saw it
Attached Image (click to enlarge)
Click to Enlarge Name: icce2.gif Size: 27 KB
  • #24
  • Edited 11:45pm Apr 9, 2009 11:10pm | Edited 11:45pm
Quoting cobraforex
My interpretation of the todays channel is this, 1. TP after break of the channel on 38.2 set SL to BE and second TP on 23.6%.

This is a paper trade, but my question to Bemac, is this way to trade it OK?

BTW: I see it's almost the same as TW saw it
Interesting Cobra & I know you have a great vision for this But I would probably drop about 9 bars from the front of your channel.

Means nothing right now but...
  • #25
  • Apr 9, 2009 11:39pm Apr 9, 2009 11:39pm
Quoting Bemac
Interesting Cobra & I know you have a great vision for this But I would probably drop about 9 bars from the front of your channel.

Means nothing right now but...
Thanks Bill.

I believe it needs a good critic of PA to trade it, I'm still in the childhood of your system but willing to learn what you present.

I've made some backtests on historical data on the 15M (that is the TF I use to analyse daytrades) and I'm really surprised of the results.

I understand from what was talked in the last posts of the indicator thread that we should take in account the hours 22:00 to 24:00 GMT as the channel.

Will that be the rule for to trade your idea?

What is the prefered TF of this way to trade or should I say system?

I will not say that I'm walking in the dark but may be I don't follow the real idea.

Oh, almost forgot, can you send a screenshot of your suggested channel?
  • #26
  • Apr 9, 2009 11:47pm Apr 9, 2009 11:47pm
Quoting cobraforex
Thanks Bill.

I believe it needs a good critic of PA to trade it, I'm still in the childhood of your system but willing to learn what you present.

I've made some backtests on historical data on the 15M (that is the TF I use to analyse daytrades) and I'm really surprised of the results.

I understand from what was talked in the last posts of the indicator thread that we should take in account the hours 22:00 to 24:00 GMT as the channel.

Will that be the rule for to trade your idea?

What is the prefered TF of this way to trade or...
ICCE is but a half of the equation...
Lots more to come.

Again I say:
Love your loved ones for that is why we do this.
  • #27
  • Apr 10, 2009 12:09am Apr 10, 2009 12:09am
I hope Everyone gets some time over the Easter weekend {please remember what Easter signifies}to revel in the joys they have presently before them.

(I am not particularly religious but I do have to say that My Grandkids are my ... {life}. I have 3 of them now, 2 boys & a Princess) so I have Lots to revel in. I'm gonna be busy for a few days but, luckily, it only takes a moment or so to respond here.

Heh! Was that a Bunny I saw? He went that way...

Gotta go...

Whatever you call it...
Happy This Weekend.
Bemac.
  • #28
  • Apr 10, 2009 12:11am Apr 10, 2009 12:11am
Fooling around. Plotted the most recent channel on AUDUSD (first chart). Then overlayed a chart of EURUSD (orange and green candles).

Hmmm....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 111 KB
Click to Enlarge Name: audusdoverlay.jpg Size: 133 KB
Is your SL my TP?
  • #29
  • Apr 10, 2009 12:12am Apr 10, 2009 12:12am
Hey Bemac,

I have a question,
Do you trade a breakout inside the channel with PA, could be a Pinbar or BUOB...? Because in higher TF I use EMA's+PA in this type of box.
Or you wait a PA outside the channel to jump like EUR/USD in previous posts?

Thanks Bemac,
Just to clarify ideas..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 24 KB
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #30
  • Apr 10, 2009 12:17am Apr 10, 2009 12:17am
Quoting kenmania
Fooling around. Plotted the most recent channel on AUDUSD (first chart). Then overlayed a chart of EURUSD (orange and green candles).

Hmmm....
Ken. You're wasting your time. There's nothing to this S#it.
Just joking of course.

I've never had the ability {due to platform restrictions} to do what you just did.

Things that make you go "Hmmmm" is bang on the Money.
  • #31
  • Apr 10, 2009 12:19am Apr 10, 2009 12:19am
Quoting Bemac
I hope Everyone gets some time over the Easter weekend {please remember what Easter signifies}to revel in the joys they have presently before them.

(I am not particularly religious but I do have to say that My Grandkids are my ... {life}. I have 3 of them now, 2 boys & a Princess) so I have Lots to revel in. I'm gonna be busy for a few days but, luckily, it only takes a moment or so to respond here.

Heh! Was that a Bunny I saw? He went that way...

Gotta go...

Whatever you call it...
Happy This Weekend.
Bemac.
Hey have a blessed weekend Bemac. You are quite fortunate, I have a granddaughter and they are the cream of life. :0)

I wanted to say thanks also for opening this up for us. If you didn't make another post on this topic I've been pretty richly rewarded with just what you've taught until now. Thanks for sharing the wealth.
Is your SL my TP?
  • #32
  • Apr 10, 2009 12:20am Apr 10, 2009 12:20am
Quoting Bemac
Whatever you call it...
Happy This Weekend.
Bemac.
Here in Ecuador they call it "Semana Santa"

I also be out till sunday and wish everybody a great holliday.

BTW: Sorry to ask for a screenshot Bill, didn't read well your post #7
  • #33
  • Apr 10, 2009 12:22am Apr 10, 2009 12:22am
Quoting ikki
Hey Bemac,

I have a question,
Do you trade a breakout inside the channel with PA, could be a Pinbar or BUOB...? Because in higher TF I use EMA's+PA in this type of box.
Or you wait a PA outside the channel to jump like EUR/USD in previous posts?

Thanks Bemac,
Just to clarify ideas..
ikki; you just dont have enough information, as yet, to Trade This.

"Patience is a Virgin" Archie Bunker.

Please afford me some time. It will come to pass
  • #34
  • Apr 10, 2009 12:23am Apr 10, 2009 12:23am
Hi:

Thank you Cobra for directing me to this thread. I'm very much looking forward on the development of ICCE. Bemac, your sharing is much appreciated. Take care.

Have a good one
Jeff
~*~You are only one trade away from humility~*~
  • #35
  • Apr 10, 2009 12:34am Apr 10, 2009 12:34am
Quoting Bemac
I've never had the ability {due to platform restrictions} to do what you just did.
Here's the indicator that allows you to do overlays. Open a regular chart, then open the indicator. When the dialogue box opens type in the pair you want to overlay on the first line (EURUSD, USDJPY, etc.), and make sure you have the same timeframe entered as the chart you're applying it to.

And...it's off to bed I go.
Attached File(s)
File Type: ex4 MTF_OverLayChart(yyr).ex4   6 KB | 1,006 downloads
Is your SL my TP?
  • #36
  • Apr 10, 2009 12:35am Apr 10, 2009 12:35am
Right!

Quoting Bemac
ikki; you just dont have enough information, as yet, to Trade This.

"Patience is a Virgin" Archie Bunker.

Please afford me some time. It will come to pass
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #37
  • Apr 10, 2009 2:34am Apr 10, 2009 2:34am
The ICCE, to me, has a very 'heavy taste' that is similar to Babson Lines; especially in the part that it uses a 'top' and a 'bottom' to define a 'range'. Similarly, in Babson Lines, the Center Line uses a significant 'swing high' and 'swing low' to define it. While, Babson Lines are forward looking into the future in terms of TIME elelments; the ICCE is forward looking into the future with fibonacci levels; which is essentially saying, it is forward looking into the PRICE elements. I have started to use the ICCE along with the Andrew's Line; it is quite amazing, and not to my surprise, that how price gyrations react when these two elements converge. Take care.

Have a good one
Jeff
~*~You are only one trade away from humility~*~
  • #38
  • Edited 6:42am Apr 10, 2009 5:48am | Edited 6:42am
Here is the source code to the Overlay chart.

Also, the trade I posted earlier worked out almost to the pip at the 62.5% line.

That,s it for me. Everyone have a great Holiday, see you in a few days.

I will wait for further details to unfold about ICCE before placing another trade, because I want to give Bill the time to let it all unfold. That last one was just such a perfect setup on a reversal bar, I could not pass it up.

Also, I'll put my chart back to the standard fibs, and not the Gann eights.
I will follow my idea about eights quietly so as not to disrupt the flow of the fib discussion here.
Looking forward to future developments.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_036.gif Size: 16 KB
Attached File(s)
File Type: mq4 OverLayChart.mq4   9 KB | 844 downloads
  • #39
  • Apr 10, 2009 6:38am Apr 10, 2009 6:38am
oops............I stumbled in here because I was shadowing Cobra around FF and what do I find? Great people (including a few 'old' friends) developing a trading method that has 'eye appeal' for me.

I've been using a few of the indicators developed by Cobra's team (my favorite is from the "Pip Princess".......lol ! ) for intraday trading on M15 charts.

I have already scheduled time to be spent this weekend reading and getting 'caught up' on the previous work of Bemac and my very dear friend Felix............I mean, smjones.

Have a great weekend everyone......I'm off to score a few pips on a Bank Holiday..................
  • #40
  • Apr 10, 2009 6:46am Apr 10, 2009 6:46am
Quoting BeachBum
I have already scheduled time to be spent this weekend reading and getting 'caught up' on the previous work of Bemac and my very dear friend Felix............I mean, smjones.
Too cold. Too cold.
Is your SL my TP?
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