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4 Hour Strategy (MACD)

  • #3,481
  • Apr 15, 2007 10:15pm Apr 15, 2007 10:15pm
Quoting Palmer
Nice work pips4! I've been working on a script that creates an audible alert and sends an email when a trend continuation signal happens. There are a lot of pips to be made on tc signals. But, I've been fighting with MT4 to correct the test mail error:

mail: error connecting with smtp.knology.net

I've been in touch with Knology, Bluebottle, and waiting to hear back from Metaquotes as well.

Here's the thread about my 'issue'

http://www.forexfactory.com/showthread.php?t=23638

If anyone can help...please do.

I have no idea how to resolve the problem. I've tried everything but still get the error...
Wow! Thanks Palmer for tackling such a large project!!! I wish I were more tech savy.....Hope someone on this forum has some insight!
  • #3,482
  • Apr 15, 2007 10:31pm Apr 15, 2007 10:31pm
Hello, I am new here. Thanks for this strategy. 4 Hour TF charts it's better for conservative trader ( just my own opinion). I will use it in my demo for some kind of backtesting. Great Job Pips4uandme!
{ Link Removed }
  • #3,483
  • Apr 15, 2007 11:11pm Apr 15, 2007 11:11pm
Dear Mr Palmer,
the email thingo is a bit trickey and has caused me pain in the past.

The effort at this stage is to get line 1 right, the rest looks okay.

If you delete your input on line 1 you will see the red template come up. That says that you need colon 25 (:25) to tell it to go to port 25.

see how that goes , I just tried it and it works okay but I had to have afew goes
best
j
  • #3,484
  • Apr 15, 2007 11:19pm Apr 15, 2007 11:19pm
Sorry,
I see that you tried :25

Have a look at your email program and get the exact outgoing address from that and copy that in.

for example, mail.address.com:25
that works for me on my email program and in MT4

ie mail.bigpond.com:25 but when I used smtp instead of mail it did not work.

we will get there
best
j
  • #3,485
  • Apr 15, 2007 11:40pm Apr 15, 2007 11:40pm
I tried this and it appears that it got through to your server

mail.knology.com:25

it does not mean that it is right but worth a try along those lines
j
  • #3,486
  • Apr 16, 2007 12:30am Apr 16, 2007 12:30am
Quoting cinnov
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!
Hi cinnov, hi all,

first: Thank you Phillip for this great strategy.

I've watched this thread for weeks and I want to start using this method now but using a 3-hour timeframe. Cinnov maybe we could work together? The reason why I want to use the 3-hour timeframe is because I trade with Oanda. Of course I could install a demo version of Metatrader but as I can see this MACD-pattern will also work for the 3-hour timeframe.

My timezone is GMT+1 and today in the morning at 6:00am I've opened my first two positions:

NZD/USD

http://www.fx-forum.de/charts-3h/nzdusd_3h_160407.png

This one is against the trend with a first target between EMA 8 and 21.

USD/CAD

http://www.fx-forum.de/charts-3h/usdcad_3h_160407.png

For the USDCAD I think that the down trend will proceed. A first target would be the 1,1330.

Please let me know if you don't want to post my point of view here as it is for the 3-hour timeframe?!

Best regards - Xaron
  • #3,487
  • Apr 16, 2007 2:21am Apr 16, 2007 2:21am
Sorry for only the one pair update and late posting as I had problems yesterday connecting to the server. I took the difficult one (EurUsd)over a difficult period and still you could have manange some pips.

Looks like the last 3 weeks have taken a few people away from the MACD system. As I have said throughout this thread, "If you can manage some pips out of a difficult time with the MACD system you then have patience and disciplin"

This system teaches you patience and disciplin without wiping your account. In difficult times it does not give many pips, but it does not give big losing bad trades if you use the rules of profit targets and Risk:Reward ratio. Other systems give huge gains but also huge losses and 2 of those losses can hurt you.

Look at the graph and listen to the MP3 and you will see that with patience pips was on the deck.

Well done Pips. Your patience and disciplin paid off. I did only 4 trades so far this month with 145pips gain.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy 1.jpg Size: 76 KB
Attached File(s)
File Type: zip Weekly Wrapup EurUsd.zip   839 KB | 1,660 downloads
  • #3,488
  • Apr 16, 2007 2:35am Apr 16, 2007 2:35am
[quote=Xaron;274201]Hi cinnov, hi all,

first: Thank you Phillip for this great strategy.

I've watched this thread for weeks and I want to start using this method now but using a 3-hour timeframe. Cinnov maybe we could work together? The reason why I want to use the 3-hour timeframe is because I trade with Oanda. Of course I could install a demo version of Metatrader but as I can see this MACD-pattern will also work for the 3-hour timeframe.

My timezone is GMT+1 and today in the morning at 6:00am I've opened my first two positions:


I looked at the graphs and it will work just as with the 4hours. Just manage your profit targets together with Risk:Reward (R:R) well and you will make many pips.
Good trading.
  • #3,489
  • Apr 16, 2007 2:46am Apr 16, 2007 2:46am
Hi Phil,

Welcome back to the forum !

I have been looking for your wrapup.

Thank you for your clarification on MACD reading.

I will stop posting my interim report and keep it private.
  • #3,490
  • Apr 16, 2007 4:55am Apr 16, 2007 4:55am
I am still on holiday till 2nd May. Will post weekly wrapup over weekends. Good pipping to you all.
  • #3,491
  • Apr 16, 2007 6:54am Apr 16, 2007 6:54am
Could you please let me know what brokers are you guys using and what time your 4h candle closing is taking place, just trying to figure out is there some closing time better than another for this strategy.
Thank you and happy pips to everybody!
viu
  • #3,492
  • Apr 16, 2007 7:06am Apr 16, 2007 7:06am
I'm trading through FXCM, but doing my analysis with the usual MetaTrader setup. My candles close in 2 hours time.

I've debated in my head, having four different setups, so that I've got a set of candles closing on the hour, every hour. But in the long run there's probably more value in keeping it simple. You'll miss out on some trades, but hey!
"My main objective is to be professional but to kill him." - Mike Tyson.
  • #3,493
  • Apr 16, 2007 7:13am Apr 16, 2007 7:13am
Looks like potential for an RT on most JPY pairs... EUR/JPY looks especially tasty at the moment - check the macd level! Now, just a little patience.

Opinions?
"My main objective is to be professional but to kill him." - Mike Tyson.
  • #3,494
  • Apr 16, 2007 8:04am Apr 16, 2007 8:04am
Could someone help me out with this doubt?

Thanks in advance
Ignacio

Quoting Nacho_1975
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
  • #3,495
  • Apr 16, 2007 8:23am Apr 16, 2007 8:23am
Quoting RickyPluto
Looks like potential for an RT on most JPY pairs... EUR/JPY looks especially tasty at the moment - check the macd level! Now, just a little patience.

Opinions?
I'm in agreement w/you that these pairs look like they are ready for retrace...but be very careful! Talk about momentum pushing the price up on the yen pairs....Just confirm price action before taking a counter trade and keep your stop tight (and don't get greedy )! If you really wanted to be safe...wait for a TC after a retrace and ride w/the trend instead of hopping into counter trend trade. Also, you might want to use 1 set of data instead of mixing platforms and use a 1 hour timeframe along with the 4HR. That way you won't get conflicting info that could confuse your decision to enter...For me, too much info gives me "action paralysis," and I can't pull the trigger.

Wishing you happy trading (and many pips!)
  • #3,496
  • Apr 16, 2007 8:31am Apr 16, 2007 8:31am
Quoting Phillip Nel
I am still on holiday till 2nd May. Will post weekly wrapup over weekends. Good pipping to you all.

Wow!!! You are so dedicated to us on the forum -- THANK YOU!!! Unbelievable how unselfish and giving you are of your valuable time! On Holiday and still giving us weekly wrap-ups. I'm in awe! Enjoy your Holiday & be safe.

(congrats too on your monthly pips! got to love a system that is consistent w/o large drawdowns -- I sure do!!).

Wishing you the best life has to offer,
Pips
  • #3,497
  • Apr 16, 2007 1:07pm Apr 16, 2007 1:07pm
In your pdf attachment "4hr MACD Forex Strategy" from the very first post of this thread, why did you not go short on the rounded tops of 22 Oct2006;7 Nov2006 or 10Nov 2006? The chart is entitled "TOTAL+-560 pips".

Well done on your strategy. It's really very professionally researched and thought out and thank you for posting it and sharing it with us.
Mooi so,Philip!
Doji Star
Attached File(s)
File Type: pdf 4 Hour MACD Forex Strategy.pdf   799 KB | 2,183 downloads
  • #3,498
  • Apr 16, 2007 5:28pm Apr 16, 2007 5:28pm
Quoting Phillip Nel
I am still on holiday till 2nd May. Will post weekly wrapup over weekends. Good pipping to you all.
Hi Phillip ... Good to see your messages on the forum again ...

Have been monitoring your 4 hour MACD strategy for several days now and can certainly see the merit of it in terms of patience etc ...

The .pdf (instructions) you put together were very easy to read ...

Do you have a similar (instruction .pdf) for your 5 minute strategy you have "running" on another message thread?

I couldn't find one in the plethora of messages in that thread ...

Keep up the good work ...

GaryW
  • #3,499
  • Apr 16, 2007 6:43pm Apr 16, 2007 6:43pm
Hi Phillip,

I hope you are having a well earned break. Thank you for being the giving person that you are.

You might have noticed a fall off in postings on the thread, but I want to assure you your contribution has been awesome , and will continue to be, to so many of us.To learn the value of watching and waiting for the right set up, and as you say patience,was something I had to work on.

Your fan club is still out here mate, some of us dont have a lot to say.Thanks to Pips and Co for helping the new folk.

Cheers and thanks.
  • #3,500
  • Apr 17, 2007 2:06am Apr 17, 2007 2:06am
Quoting Doji Star
In your pdf attachment "4hr MACD Forex Strategy" from the very first post of this thread, why did you not go short on the rounded tops of 22 Oct2006;7 Nov2006 or 10Nov 2006? The chart is entitled "TOTAL+-560 pips".

Well done on your strategy. It's really very professionally researched and thought out and thank you for posting it and sharing it with us.
Mooi so,Philip!
Doji Star

At that time of my study I did not included aggressive turnarounds(turnaround over 3bars). I only started to use it later especially when the hor line on the MACD is over 30. I still prefer a turnaround over 4 or more candles. Some of the signals I was allready in a previous deal(demo) and did not include that specific trade. On other the R:R was not good. In the original document I was also not trying to show every signal.

The whole thread is very important to read to get a complete picture.
Go to Page 55 and post 812 and 814 and it will guide you to be able to download all the attachments.
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