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4 Hour Strategy (MACD)

  • #3,341
  • Apr 9, 2007 9:39am Apr 9, 2007 9:39am
I posted a new version of MACD colored indicator on my thread
This one includes signals showing on the indicator and alerts.
Alerts can be emailed. Repeated alerts can be specified on the same singal at predefined intervals.
It includes doc describing new features.
Post me on my thread with questions and such.
Attached File(s)
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 5,618 downloads
File Type: doc MACD Colored Indicator.doc   81 KB | 5,135 downloads
  • #3,342
  • Apr 9, 2007 11:02am Apr 9, 2007 11:02am
Quoting Phillip Nel
If you want to paricipate in a chat around the 4 Hour MACD Strategy
Go to www.skype.com and install skype and then click the link below to get access to the chat.

You can only benefit from the discussions and if not satisfied you can leave the chat when ever you want or ask the host to remove you.

I hope that the chats will only be positive. Bad stuff wont be allowed on the chat.

Everything on this chat must be treated as opinions of different people and any actions according to something published on this chat must only be done after thorough investigation.

The host which is me will have full rights to stop this chat whenever he feels it is no longer of any use or when the majority feels it nescessary to do so

LINK:

http://ui.skype.com/ui/0/3.1.0.144/e...T7Gp_-AjQF23tQ


Phillip thisis a great idea. I tried to get into the chat room this morning but even though I get there it never actually connected. Has anyone else has this experience?
  • #3,343
  • Apr 9, 2007 11:36am Apr 9, 2007 11:36am
Quoting alcastro
Phillip thisis a great idea. I tried to get into the chat room this morning but even though I get there it never actually connected. Has anyone else has this experience?


I havnt heard of anyone having that problem.
  • #3,344
  • Apr 9, 2007 11:47am Apr 9, 2007 11:47am
I just got the Whammy! on the RB signal that formed on the 0400 bar on the EURO$. It was setting up nice on the supportive trendline too. Can't win them all. That's the main reason why this is called 'speculating'...
Attached Image
  • #3,345
  • Apr 9, 2007 12:05pm Apr 9, 2007 12:05pm
Quoting Palmer
I just got the Whammy! on the RB signal that formed on the 0400 bar on the EURO$. It was setting up nice on the supportive trendline too. Can't win them all. That's the main reason why this is called 'speculating'...
I got it too and also rt on usd/chf. both turned into a tc. how do you avoid false signal? 2 losses for me already this week.
  • #3,346
  • Apr 9, 2007 12:13pm Apr 9, 2007 12:13pm
Quoting Palmer
I just got the Whammy! on the RB signal that formed on the 0400 bar on the EURO$. It was setting up nice on the supportive trendline too. Can't win them all. That's the main reason why this is called 'speculating'...

Well Palmer,

your trade had all the "looks" of a succesful long. What did the 1 hr say?

Anyways, were you able to change your scope and short it?

Hopefully your stop protected you on time!!!
  • #3,347
  • Apr 9, 2007 12:17pm Apr 9, 2007 12:17pm
Quoting ramrocket
I got it too and also rt on usd/chf. both turned into a tc. how do you avoid false signal? 2 losses for me already this week.

Here is something that I noticed on Palmer's chart (of course I am speaking with the amazing wisdom that hindsight provides!!!).

But if you see, the last green bar is below the 21 MA. Maybe it might be better to wait until the next candle closes above the ma's to confirm the long?

I am just wondering. I know it is one thing to see it now, and a total different animal when you are live, real time, and with the finger about to press the "buy" button.
  • #3,348
  • Apr 9, 2007 12:23pm Apr 9, 2007 12:23pm
The 1 hour MACD was trending up green for the past several bars before the signal was completed on the 4 hr so it added some fuel to the fire. The 1 hr was below the 89 though. I haven't looked back at the significance of that but there have been plenty of times when that did not matter I'm sure. Either way, I didn't turn this into a short because the 4hr was still above the 89, it looks like it may bounce off of it though back to the upside like it has the past few times. I'll re-enter long if another RB forms per the rules....
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  • #3,349
  • Apr 9, 2007 12:33pm Apr 9, 2007 12:33pm
Quoting irusoh
I posted a new version of MACD colored indicator on my thread
This one includes signals showing on the indicator and alerts.
Alerts can be emailed. Repeated alerts can be specified on the same singal at predefined intervals.
It includes doc describing new features.
Post me on my thread with questions and such.
thanks irusoh, i appreciate your help. your programs have worked great and lookin forward to using this one
  • #3,350
  • Apr 9, 2007 2:03pm Apr 9, 2007 2:03pm
Quoting ramrocket
I got it too and also rt on usd/chf. both turned into a tc. how do you avoid false signal? 2 losses for me already this week.
One of the main rules is that when the price were in a trend and breaks the 21EMA which it did on Friday it tends to retest the 21EMA before moving to the 89SMA. Exactly what happened today. That kept me out of the EurUsd this morning
  • #3,351
  • Apr 9, 2007 2:29pm Apr 9, 2007 2:29pm
Phillip:

I don't have the pdf in front of me but I do recall that now that you said that. That being the case, with the EURO$ looking to form 'another' rb with a bounce off the 89, how would you play this one? I'd be looking to go long with the 89 acting as a 'supportive bounce'.
  • #3,352
  • Apr 9, 2007 3:06pm Apr 9, 2007 3:06pm
Quoting Palmer
Phillip:

I don't have the pdf in front of me but I do recall that now that you said that. That being the case, with the EURO$ looking to form 'another' rb with a bounce off the 89, how would you play this one? I'd be looking to go long with the 89 acting as a 'supportive bounce'.

The 89 looks like support. The only problem I see is that the 89SMA is starting to run out of steam as it is curving and the 21EMA not that far away. That is our problem the last 2 weeks. The gap between the 89 and 21 is not big enough and the price is crossing the 21EMA several times. It has been the worst 2 weeks in terms of trades generated by the EurUsd I have seen for a very long time. Support and resistance close to one another.

If you want to trust the channel it is in since 26March then the deal is on. It can go through the 21EMA. Just remember that the 89SMA is slowing. Get to breakeven or just below breakeven as soon as possible.
  • #3,353
  • Apr 9, 2007 4:51pm Apr 9, 2007 4:51pm
Quoting Palmer
I just got the Whammy! on the RB signal that formed on the 0400 bar on the EURO$. It was setting up nice on the supportive trendline too. Can't win them all. That's the main reason why this is called 'speculating'...
Hey,
I'm nothing close to an expert on this model but certainly impressed.
I passed this one.Waited to close above 1.3380 which is pretty stiff resistance last 3 weeks.
Once this is breaked I'm in hoping for ~60 pip after some delays around 1.34

Thanks again Philip for sharing your expirience with us...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 46 KB
  • #3,354
  • Apr 9, 2007 7:22pm Apr 9, 2007 7:22pm
1. When price is trending and breaks through the 21 it has a tendency to make a move back to the 21 before moving on to the 89.

2. When price is trending and breaks through the 21 it has a tendency to make a move back to the 21 before moving on to the 89.

3. When price is trending and breaks through the 21 it has a tendency to make a move back to the 21 before moving on to the 89.

I'll write that don 97 more times later...

Phillip: OK, I see that now, thanks.

ramrocket: I think avoiding false signals comes from experience with the method, experience including losing trades. I will have more of them I assure you.

alcastro: I didn't take the short, I was at work so I can't 'play'. But, I was still in the position when the next bar showed the down-move so the majority of that was over anyway.

I was looking at the 89 and did notice that is was/is starting to flatten before I took the trade this morning at 4am. The MT4 time alert uses the 24 hour clock as the input value by the way, that's what I'm using to 'wake me up' unless the cat decides to play happy ball at the same time. It's just hard no to take a trade when everything 'looks good'. There are a lot of set-ups where price was in an uptrend, broke down through the 21, the rb formed and price took off to the upside without coming close to the 89. I thought this was no different. Either way, back to the grind to work on getting those elusive pips back.
  • #3,355
  • Apr 9, 2007 8:35pm Apr 9, 2007 8:35pm
Quoting Palmer
I just got the Whammy! on the RB signal that formed on the 0400 bar on the EURO$. It was setting up nice on the supportive trendline too. Can't win them all. That's the main reason why this is called 'speculating'...
Hi Palmer,

Something else I noticed about your chart. I don't see your 89 sma. If you draw it on your chart, you will see that the price bounced off the 89 twice before and again 4hrs ago.
  • #3,356
  • Apr 9, 2007 9:16pm Apr 9, 2007 9:16pm
Hi everyone, I am new to this forum. I have been trading FX for the past 2 years. I like the MACD & MAs system and have already made a few pips last friday. I have added SAR on my chart to give me additional signal (MACD and SAR being TREND following). I want to see if this helps.
  • #3,357
  • Apr 9, 2007 9:19pm Apr 9, 2007 9:19pm
Take that Mr. EURO$!!!

Locked in my previous loss, plus a few.

sminotro: The 89 was the dashed white line, now the solid so I can 'see' it better.
Attached Image
  • #3,358
  • Apr 9, 2007 9:22pm Apr 9, 2007 9:22pm
does this method/thread really give 300 pips per month? or is the title misleading?
  • #3,359
  • Apr 9, 2007 9:26pm Apr 9, 2007 9:26pm
Yes it does. :
  • #3,360
  • Apr 9, 2007 9:32pm Apr 9, 2007 9:32pm
misleading?
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