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4 Hour Strategy (MACD)

  • #3,421
  • Apr 11, 2007 10:34pm Apr 11, 2007 10:34pm
Hi ramrocket,

Indicator looks very cool! I was talking about the same angle thing the other day in the chat room.

Do you have a version for MQL4? Is it available for download?

Many thanks and best regards.
  • #3,422
  • Apr 11, 2007 10:40pm Apr 11, 2007 10:40pm
Quoting xwisdom
Hi ramrocket,

Indicator looks very cool! I was talking about the same angle thing the other day in the chat room.

Do you have a version for MQL4? Is it available for download?

Many thanks and best regards.
I don't have a version for MQL4. I use VT Trader as a platform.
  • #3,423
  • Apr 11, 2007 11:44pm Apr 11, 2007 11:44pm
Also check out the ZeroLag MACD.
Attached File(s)
File Type: mq4 ZeroLag MACD.mq4   3 KB | 1,109 downloads
  • #3,424
  • Apr 12, 2007 5:32am Apr 12, 2007 5:32am
Quoting irusoh
Those who want MACD indicator: go here
http://www.forexfactory.com/showthread.php?t=20349
Irusoh, thank you very much for improved indicator, it's very convenient!
  • #3,425
  • Apr 12, 2007 8:13am Apr 12, 2007 8:13am
Hello!

Thank you for sharing your research. Your system is simple, stable and predictible, and relies on universally recognized and proven patterns (double top/bottom, head and shoulders, etc.). Moreover, it has the advantage of giving much freedom the the user.

For some reasons, I would prefer to use your system for 3-hour long frames instead of 4-hour ones. I suppose it means that the settings of the signals, specially those of MACD, should be changed. Of course, I am not asking for an extensive enquiry, but just a general suggestion as to which settings would be important to change, and in what direction) given this change in timeframe.

Thank you!
  • #3,426
  • Apr 12, 2007 8:18am Apr 12, 2007 8:18am
the last round top has been successful so far
Attached Image
  • #3,427
  • Edited 10:46am Apr 12, 2007 8:41am | Edited 10:46am
What a quite day today !

The folloiwng are the possible pairs for today by MACD 4hr signal.
I do not comment on 1hr TC oppotunity here.

Currency Pairs/Time/MACD/Trendwise/Entry price/Target/Result

1. USD/CAN /4GMT /possible RB/ Counter Trend/No deal
*Nose diving pair. Never pulled back above 8ema for over 13 candles

2. USD/CHF /8GMT /Pulled back thru 0/Counter/No deal
*Low R/R. Just few pips to 89ema.

3. EUR/CHF /8GMT /RT/ Counter/1.6412/1.6375
*Target price is at bottom trendline at 24GMT. Now 1.6392

4. EUR/USD /12GMT/possible RT/Counter /No Deal
*TC on 1hr

Now I am looking for a bounce up from bottom trend line of EUR/CHF.
This pair has been moving in upward trend channel since 16 March.

I hope that Phil would resume his daily wrapup or weekly one at least.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf0412.jpg Size: 91 KB
  • #3,428
  • Apr 12, 2007 9:26am Apr 12, 2007 9:26am
Its good that you got some pips already with your U/J trade.

Reasons that I ignored this RT:

1. MACD reading is less than 15.
2. low R/R Only few pips to 21ema. Have to take a chance to move to near 89. As 89 is almost flat, this scenario is being realized.

Good luck with your trades !
  • #3,429
  • Apr 12, 2007 9:29am Apr 12, 2007 9:29am
Quoting kappa
What a quite day today !

The folloiwng are the possible pairs for today by MACD 4hr signal.
I do not comment on 1hr TC oppotunity here.

Currency Pairs/Time/MACD/Trendwise/Entry price/Target/Result

1. USD/CAN /4GMT /possible RB/ Counter Trend/No deal
*Nose diving pair. Never pulled back above 8ema for over 13 candles
2. USD/CHF /8GMT /Pulled back thru 0/Counter/No deal
*Low R/R. Just few pips to 89ema.
3. EUR/CHF /8GMT /RT/ Counter/1.6412/1.6375
*Target price is at bottom trendline at 24GMT. Now 1.6392
4. EUR/USD /12GMT/possible RT/Counter /No Deal
*TC on 1hr

Now I am looking for a bounce up from bottom trend line of EUR/CHF.
This pair has been moving in upper trend channel since 16 March.

I hope that Phil would resume his daily wrapup or weekly one at least.
Hi Kappa,

I like your analysis. I am doing something similar with my journal. I follow a set of pairs and write down what I see. Many times I am not able to take the trades because I am away from the computer but knowing that in most cases I would be in a profitable trade is helping me a lot.
  • #3,430
  • Edited 9:56am Apr 12, 2007 9:54am | Edited 9:56am
Hi, Alcastro

I am writing this report to convince myself that I do not have to hesitate b4 taking trades.
....Phil's system is too good as per winning ratio, look at todays result..... No fear ! ...
As a newbie, and a full-time wanna-be trader, I need sort of encouragement always.

Thank you for your comment.

I started demotrading Phil's 5 min strategy today. It is very simple system but needs much more knack to get good result. 4hr system is far much easier if one comes to get full grasp of it. (I am still trying to convince myself. hahaha)
  • #3,431
  • Apr 12, 2007 11:15am Apr 12, 2007 11:15am
Hello Phillip,

Thank you for sharing your strategy and devoting a lot time to explain how your system works and how to use it, examples that you have added makes easy to understand this tricky market. I`ve tried this strategy on demo account and the results have been pretty good. I`ve couple of questions that I would like to get your personal opinion.
1. Do you use this nice strategy yourself only with EUR/USD and GBP/USD couse these pairs are familiar to you and you know the price actions or is it
becouse this strategy works the best with these pairs and volatility of
these pairs ?
2. The second question is about different candle closing time. Some brokers close 4 h candle at 12:00, 16:00, 20:00, 00:00, 04:00, 08:00 another ones 13:00, 17:00, 01:00, 05:00, 09:00 (closing-times mentioned are in timezone GMT +2). But the main point should be that the same charts that you are looking (with the same closing time) ... are looking the most people couse it`s good to be with masses, that`s why this strategy works at all... am I right ? What do you think about different closing time of 4h candlesticks ?

Thank you for your opinion !
  • #3,432
  • Apr 12, 2007 11:15am Apr 12, 2007 11:15am
I want to thank Phil for your work, and I also want to contribute something to this thread.
I saw a indicator, that shows the MACDs of different pairs,
I programmed a similar one for MT4, it is not finished, therefore I attached only the the ex.

http://www.forexfactory.com/attachme...8&d=1176394325


br
panther_trader
Attached Image (click to enlarge)
Click to Enlarge Name: MACD_1.jpg Size: 28 KB
Attached File(s)
File Type: ex4 4h_Nel_MACD_ALL.ex4   19 KB | 1,187 downloads
  • #3,433
  • Apr 12, 2007 12:16pm Apr 12, 2007 12:16pm
Quoting viu
Hello Phillip,

Thank you for sharing your strategy and devoting a lot time to explain how your system works and how to use it, examples that you have added makes easy to understand this tricky market. I`ve tried this strategy on demo account and the results have been pretty good. I`ve couple of questions that I would like to get your personal opinion.
1. Do you use this nice strategy yourself only with EUR/USD and GBP/USD couse these pairs are familiar to you and you know the price actions or is it
becouse this strategy works the best with these pairs and volatility of
these pairs ?
2. The second question is about different candle closing time. Some brokers close 4 h candle at 12:00, 16:00, 20:00, 00:00, 04:00, 08:00 another ones 13:00, 17:00, 01:00, 05:00, 09:00 (closing-times mentioned are in timezone GMT +2). But the main point should be that the same charts that you are looking (with the same closing time) ... are looking the most people couse it`s good to be with masses, that`s why this strategy works at all... am I right ? What do you think about different closing time of 4h candlesticks ?

Thank you for your opinion !

I only look at EurUsd, GbpUsd and UsdJpy(only added lately) as I am familiar with its movement and the impact news have on especially the first two I mentioned. I have based my 2 years papertrading on those two. I think you can use any pair. Closing bars times does not really matter I think. Where I will gain now you on a setup will gain above me at a later stage.
  • #3,434
  • Apr 12, 2007 12:28pm Apr 12, 2007 12:28pm
Quoting cinnov
Hello!

Thank you for sharing your research. Your system is simple, stable and predictible, and relies on universally recognized and proven patterns (double top/bottom, head and shoulders, etc.). Moreover, it has the advantage of giving much freedom the the user.

For some reasons, I would prefer to use your system for 3-hour long frames instead of 4-hour ones. I suppose it means that the settings of the signals, specially those of MACD, should be changed. Of course, I am not asking for an extensive enquiry, but just a general suggestion as to which settings would be important to change, and in what direction) given this change in timeframe.

Thank you!

I think you can use the same settings. I would be very interested to know. Will you let me know if you have tested it. Thanks.
  • #3,435
  • Apr 12, 2007 1:13pm Apr 12, 2007 1:13pm
Hello,

Here's a suggetion:

Add another 89 SMA with shift set to 2 when both 89SMA meet together that's a sign that the market is ranging and you can look of any of the patterns when they are separated and moving down only look for RT and TCs in the down direction do the reverse for when the 89s are moving up. For profit taking let the macd run until a pull back or use your own.

Remember never trade against the trend.

What do you guys think?
  • #3,436
  • Apr 12, 2007 1:55pm Apr 12, 2007 1:55pm
Hi all,

Any one using PDA for trading or chart while they are on the road?
If you using PDA device for this purpose, please recommend pda device / broker.
.
Thanks
  • #3,437
  • Apr 12, 2007 3:20pm Apr 12, 2007 3:20pm
Hi All,
I was reading Phil's strategy and looks really really good.

I have one doubt. Phil mentioned in his pdf that he enter 0.2 lots (Opening next bar), 0.3 lots (30% retracement on Bar B(previous bar)) and enter 0.5 lots (50% retracement on bar B(previous Bar))

the question is, what happened if you don't have a retracement you just trade 0.2 lots?

Thanks for you help
Ignacio
  • #3,438
  • Apr 12, 2007 3:39pm Apr 12, 2007 3:39pm
Quoting Phillip Nel
I havnt heard of anyone having that problem.
Hi phill I was not able to connect to the chat room, I recived the error message " Hi we couldn't find this page"

Any idea?

thanks
  • #3,439
  • Apr 12, 2007 5:14pm Apr 12, 2007 5:14pm
thx for the macd program link. Do I have to put it into my platform program?
I dont how to use it right. When I open it I get text.
  • #3,440
  • Apr 12, 2007 5:29pm Apr 12, 2007 5:29pm
Quoting osirisisis
thx for the macd program link. Do I have to put it into my platform program?
I dont how to use it right. When I open it I get text.
osisisus, i dont know much about this but here is how i did it. , go to local disk C, program files, then open your trade platform(mine is interbank), experts, then indicators. load it in therer. thats how i did it and you may have to restart yuor compouter anyone else that can help?
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