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H1Scalper System (MTF D1,H1,M5)

  • #41
  • May 5, 2009 9:52am May 5, 2009 9:52am
Thanks to Swingman for this wonderful toy! Well done! And thanks to lrathi for the precise description - just as precise as the manual of a lovely fighter-jet. Bit technical for chaps like me.

Questions from my side:

Which TF should the dashboard be attached to? And which tpl should be used (Hourly, daily, or each for its special TF)?

Within the chart, the lower right corner trade position word (short or long or L1, L2....) is the valid value for the timeframe of this chart. Would it be a good idea to show there the trade direction of the other timeframes as well? Just by saying in red or green H1 H4 D1? And only the actual timeframe has the extensive grading (Short, S1, S2 .....)?

Thanks

Forex37
  • #42
  • May 5, 2009 12:33pm May 5, 2009 12:33pm
Hi SwingMan,

fantastic job!

I just wanted t ask what asctually signals S1, S2,, L1, L2 mean?
and how do u determine TP and SL?


thanks,
Sergey
  • #43
  • May 5, 2009 1:31pm May 5, 2009 1:31pm
Quoting svlad1983
1.- I just wanted t ask what actually signals S1, S2, L1, L2 mean?
2.- and how do u determine TP and SL?
1. - Please read the documentation

2. - No TP, because we trade the trend: M5 -> H1 -> D1 -> M1 -> Y1 http://forexmoments.com/forums/image...es/biggrin.gif or the counter trend: M5 -> H1.

- As SL I would take the Hilo moving averages, with setting a break even if the trend is favorable.
  • #44
  • May 6, 2009 3:54am May 6, 2009 3:54am
I cant make this work which is very frustrating as it looks brilliant.

I have attached a screen showing what I get, can someone tell me what I am doing wrong?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Swingman.JPG Size: 68 KB
  • #45
  • May 6, 2009 5:01am May 6, 2009 5:01am
I think you have not installed each and every file. With SINGMAN`s creations often a latter file is NOT a replacement but an update that requires the previous file to work properly. SO you better start with the files from post 1 and just procede and install all of them.

Regards

Forex37
  • #46
  • May 7, 2009 5:05am May 7, 2009 5:05am
Quoting Forex37
I think you have not installed each and every file. With SINGMAN`s creations often a latter file is NOT a replacement but an update that requires the previous file to work properly. SO you better start with the files from post 1 and just procede and install all of them.

Regards

Forex37
Thanks Forex37, you were right all working now.
  • #47
  • May 8, 2009 3:47pm May 8, 2009 3:47pm
Swingman:
Thank you for sharing with us. Someone told me about your new method. I'm going to try it.

Steve
  • #48
  • May 8, 2009 6:26pm May 8, 2009 6:26pm
A possibility to scalp on the M1 time frame:

- We have the long conditions (signals) on H1, M5 and M1 full or partly fulfilled.

- Entry 1 point above the High of the previous candle, with initial SL on the red MAvg.

- If the blue line cross the entry level, set SL 1 on the red line

- If the red line cross the entry level, set SL 2 on the entry level (break even)

- Exit on open if the close of the previous bar is below the red line.

Result (3 digits broker):
149.505 - 149.365 = 140 points
140 - Spread 73 = 67 points (or 6.7 points for 2 digits broker)
Attached Images
  • #49
  • May 8, 2009 7:25pm May 8, 2009 7:25pm
Very nice, SM. I have to review the thread again. I think I have an old dashboard.
  • #50
  • Edited 8:18pm May 8, 2009 7:42pm | Edited 8:18pm
Here an other example, with 4 TF conditions and scalping on M1.

I do not recomand M1, and think is better to take as trading time frame M5.
BUT, the entrys must be taken from M1, and the stop loss levels (red/blue line) from the M5 time frame.

I post here the last indicator versions.
(Please take from posting #1 the other indicators, if you haven't do this).


- Here an other M1 scalping example with a counter on the first TF, if the signals on all time frames are convergent (column after current price).
Also is possible (see input parameters) to become the signal counter for M5, although the first column is M1. (Please test...)

- Alerts are fired if the signal counter is [1].
It gives little differences between the histograms in OscD1 and DashBoard signals, but this is not important.

.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_allTFs.PNG Size: 92 KB
Attached File(s)
File Type: ex4 H1Scalper DashBoard_v2.3.ex4   40 KB | 1,635 downloads
File Type: ex4 H1Scalper OscD1_v2.ex4   15 KB | 1,630 downloads
File Type: tpl h1scalper dashboard_v2.3.tpl   80 KB | 1,535 downloads
  • #51
  • May 8, 2009 10:27pm May 8, 2009 10:27pm
SM, in the post above, why in the dashboard is the M30 column not magenta like the others for usdcad? Seems all the rules are met for magenta. Please correct me if I am mistaken.
  • #52
  • May 9, 2009 3:10am May 9, 2009 3:10am
This is my experimental trade using D1 H4 H1 Timeframes on a demo account. I could and should have got in earlier at the H1 signal which in this case I did not. I have not decided what SL and TP criteria I will be using at this stage.

This was using the dashboard 2.1 version, signals set 1 bar ago. Apologise for the Dashdash data is not ideal as I tried to reset the dashboard after market close.

The intention of this example to show that
1. it is easy to decide the currency pair using the DAILY trend column
2. Flexible to use H1 entry
3. How profitable forex trading has been made with Swingman's new strategy and dashboard.

I will install the latest dashboard version 2.3 and continue this coming week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h1 entry.gif Size: 70 KB
Click to Enlarge Name: usdcad mtf.gif Size: 63 KB
Click to Enlarge Name: aususd mtf.gif Size: 62 KB
  • #53
  • May 9, 2009 3:34am May 9, 2009 3:34am
Quoting BenQ
SM, in the post above, why in the dashboard is the M30 column not magenta like the others for usdcad? Seems all the rules are met for magenta. Please correct me if I am mistaken.
The problem appears only on weekend, because we do not have refreshed prices. In this case you must restart the indicator.
  • #54
  • May 9, 2009 3:59am May 9, 2009 3:59am
In the new version 2.4, beside the arrows is writen the value of the recommended entries:

Long = High prev.Bar + Spread + 1P
Short = Low prev.Bar - 1P


- An other scalping example:
.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_allTFs.PNG Size: 96 KB
Attached File(s)
File Type: ex4 H1Scalper DashBoard_v2.4.ex4   40 KB | 1,504 downloads
File Type: tpl h1scalper dashboard_v2.4.tpl   80 KB | 1,432 downloads
  • #55
  • May 9, 2009 4:25am May 9, 2009 4:25am
Thank you for posting your system. I am trying to setup the DashBoard v2.4 indicator.if can i only use it to decide strength?
  • #56
  • May 9, 2009 6:53am May 9, 2009 6:53am
Quoting bhcgn
Thank you for posting your system. I am trying to setup the DashBoard v2.4 indicator.if can i only use it to decide strength?
The daily trend column will help with trend strength. You are in the right place. Version 2.4 has more brilliant features programmed. Watch this space for the explanations. Coming soon!
  • #57
  • May 9, 2009 7:21am May 9, 2009 7:21am
SM, I've finally had a chance to closely read the thread and I have to agree -- brilliant work. Very well put together. I particularly like the crossover entry. And the dashboard brings it all togeher with adjustable TFs.

I'm not seeing the buy/sell levels with the latest dashboard, but maybe that's because the market is closed. And there's still a few things on the dashboard I'm not clear about -- like the light blue or magenta "1" -- but I'll work with it next week. I've seen other dashboards you've done, and always very good work.

And thank you too, Irathi, for all your examples and explanations.
  • #58
  • May 9, 2009 7:58am May 9, 2009 7:58am
Quoting BenQ
SM, I've finally had a chance to closely read the thread and I have to agree -- brilliant work. Very well put together. I particularly like the crossover entry. And the dashboard brings it all togeher with adjustable TFs.

I'm not seeing the buy/sell levels with the latest dashboard, but maybe that's because the market is closed. And there's still a few things on the dashboard I'm not clear about -- like the light blue or magenta "1" -- but I'll work with it next week. I've seen other dashboards you've done, and always very good work.

And thank...
You are right, with market closed the dashboard's full brillance cannot be seen.

However, I am seeing buy and sell levels on my platform. Perhaps wait for market to open.

The [1] column is one of the new features of version 2.4. This is hot off the press and am working on an explanation file to explain.

I have to agree the Swingman's dashboards in the past have been nothing less than fanstastic. This one is even more than fantastic, JUST brilliant!

Watch this space, explanations coming soon!
  • #59
  • May 9, 2009 8:00am May 9, 2009 8:00am
Can you show me an example of a buy and sell level you're seeing rigth now? It's not on the dashboard, but on the individual pair chart, is that right?
  • #60
  • May 9, 2009 9:07am May 9, 2009 9:07am
Quoting BenQ
Can you show me an example of a buy and sell level you're seeing rigth now? It's not on the dashboard, but on the individual pair chart, is that right?
Maybe at the time is not possible to see current signals, because the signals are not dynamic.
lRathi will explain better, I try to explain the signals from the USDJPY charts in my post #54.

- We have the last TF = H4, and the first is M1

- At 20:00 on the H4 we have a L2 signal, and in the TFs M1, M5, M30 Long signals.

We can see that at the times after 20:00, we have on M1 an entry at 20:36.

I have drawn vertikal lines in the TFs M5 and M30 which correspond the time of the entry.
Because I will to trade the M5 TF, I set the initial SL, further the SL 1 and the breakout, and wait until the first close cross the red line.
Surely is possible to exit earlier.
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