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Attachments: Mrs V's fave 1 min entry
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Mrs V's fave 1 min entry

  • #101
  • May 21, 2009 7:09am May 21, 2009 7:09am
By way of contrast to the trade set ups that result in a trade.

EJ, the next 5 min hl is shown. The red line on 1 min shows the close of 5 min hl candle. The candle giving the signal (marked with an x) is a small negative close candle after an inverted hammer. Not the candles you want to see if you are buying.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min 2.gif Size: 20 KB
Click to Enlarge Name: ej 1 min 2.gif Size: 22 KB
  • #102
  • May 21, 2009 8:25am May 21, 2009 8:25am
Quoting Vantage
By way of contrast to the trade set ups that result in a trade.

EJ, the next 5 min hl is shown. The red line on 1 min shows the close of 5 min hl candle. The candle giving the signal (marked with an x) is a small negative close candle after an inverted hammer. Not the candles you want to see if you are buying.
Very informative post, V. So you waited until the close of the 1 min (& stayed out) or took the trade as the 1min price broke upwards?
  • #103
  • May 21, 2009 8:28am May 21, 2009 8:28am
Hi Nedify
We stayed out of this one, when the signal came 1 min candles were just not acceptable. Must have pos close candle for a buy.

There are so many good set ups that taking one like this is just not worth it.
  • #104
  • May 21, 2009 8:34am May 21, 2009 8:34am
Quoting Nedify
Very informative post, V. So you waited until the close of the 1 min (& stayed out) or took the trade as the 1min price broke upwards?
Sorry to clarify, when the 1 min signal comes after a good 5 min set up, the 1 min candles must be green for buys and red for sells.

In this case the inverted hammer and the small range red candle just not in mho good enough.
  • #105
  • May 21, 2009 8:48am May 21, 2009 8:48am
Nedify I'm now finished for the day so I'll post another ej set up that we looked at and rejected and another nice move.

The no-no trades are perhaps better than the perfect ones??
  • #106
  • Edited 9:14am May 21, 2009 8:55am | Edited 9:14am
Quoting Vantage
By way of contrast to the trade set ups that result in a trade.

EJ, the next 5 min hl is shown. The red line on 1 min shows the close of 5 min hl candle. The candle giving the signal (marked with an x) is a small negative close candle after an inverted hammer. Not the candles you want to see if you are buying.
Hi Vantage,

Terrible problems getting access to the site last few days. Can you clarify something for me about definition of a higher low (sparked by Ned's question the other day, and I never properly understood the answer).

Using your EJ chart above and FXPro times on that chart.

1. Is the 0940 candle a HL because the low at 9:40 is higher than the preceding candle at 09:35?
2. Or does the HL refer to the fact that 0935 is the HL relative to the 0830 lows, and is confirmed by the 0940 candle closing.


In the past I have always understood #2, but reading your post, you use the term in the sense of #1, is that right?

PS referring to the 5 min chart
  • #107
  • May 21, 2009 9:14am May 21, 2009 9:14am
OK ej 5 min again. An inverted hammer normally a very good prospect for a trade but stoch not confirming, not even close. On the first trade in a move we really want 5 min stoch to confirm and be crossed in direction of trade.

5 candles after the hammer on 5 min theres a lower high close, you'll see stoch has confirmed, macd red, rsi is touching not yet crossed, all fine. But its just before US news.

The 1 min chart, the full length red lines show the close of the 2 5 min candles. There isn't an entry after the first hammer at all. Also the ema on 1 min was very flat.

The first signal after the lower high (well after news settled) is shown with the arrow. We exited a little quick but after a decent morning that was fine.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min 4.gif Size: 17 KB
Click to Enlarge Name: ej 1 min 4.gif Size: 25 KB
  • #108
  • Edited 9:39am May 21, 2009 9:25am | Edited 9:39am
Quoting Royston
Hi Vantage,

Terrible problems getting access to the site last few days. Can you clarify something for me about definition of a higher low (sparked by Ned's question the other day, and I never properly understood the answer).

Using your EJ chart above and FXPro times on that chart.

1. Is the 0940 candle a HL because the low at 9:40 is higher than the preceding candle at 09:35?
2. Or does the HL refer to the fact that 0935 is the HL relative to the 0830 lows, and is confirmed by the 0940 candle closing.


In the past I have always understood...
Hi Royston
I've attached the chart again and shown all the candles I consider a higher low up to 9.40.

Firstly the wave lower must be higher than the previous low. Then for me I need to see a higher close green candle, the green candle gives the confirmation that the low is broken as it were and the move up has a chance.

So I see it as your 2nd choice, the 9.35 candle is the higher low which is confirmed by the positive close of the 9.40 candle.

I hope this is clear.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 6.gif Size: 20 KB
  • #109
  • May 21, 2009 5:10pm May 21, 2009 5:10pm
Hi Vantage,

Here is a Mrs V traffic lights ver 03 with filters. Give it a spin and compare it with the original and let me know if there are any glaring errors.

Filter options (for a long) are
All signals - this shows any time the 3 indicators are in conjunction
Five_shift_and_34 - shows only signals when the 5 shift is also greater than the 34
Only_34 - shows where close is greater than 34 ema
Only_five_shift - shows where close is greater than 5 shift ema.

I also wanted a way of showing trend so made a simple Mrs V trend indicator. This gives green bars when the 5 ema is greater than the 8 ema and the 8 ema is greater than the 34 ema, and red bars for the reverse. I drag this into the same window as the traffic lights ( all signal option). The bar height is set lower and the bar width is set wider. End result is that when blue bars are popping up above a green base, longs signals are being generated. Not sure how useful it is, but I thought it might spark some comments which could be useful.
Attached Image (click to enlarge)
Click to Enlarge Name: 0905212303 EURUSD 1 min with Mrs V traffic lights and trend.jpg Size: 97 KB
Attached File(s)
File Type: mq4 Mrs V traffic lights 03 with filters.mq4   8 KB | 363 downloads
File Type: mq4 Mrs V trend.mq4   3 KB | 402 downloads
  • #110
  • May 21, 2009 8:37pm May 21, 2009 8:37pm
Here's a nice EJ trade, good for 20-odd pips. It's the first 5min hl for the session and the first 1 min trade off that hl.
(I am not usually able to trade Asian session, except for some Fridays)

Arrow on 5m shows hl. Vertical line on 1m shows close of 5 min candle and arrow is 1m signal.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: v 5min.gif Size: 17 KB
Click to Enlarge Name: v 1min.jpg Size: 92 KB
  • #111
  • May 21, 2009 8:53pm May 21, 2009 8:53pm
Quoting Royston
Hi Vantage,

Here is a Mrs V traffic lights ver 03 with filters....
Fantastic Royston. That's a great tool and very clever layout allows all the info in a very clear and uncluttered way on the screen. Brilliant!

Cheers, Ned
  • #112
  • May 21, 2009 9:39pm May 21, 2009 9:39pm
Royston, would it be possible to allow for a choice of using a 20ema in the traffic lights? As a matter of personal preference I like the 20ema on the 5m chart, esp. for the yen crosses where a slightly faster ma can be better imo.

If this is too much trouble don't worry. Being a coding bunny I have no idea how easy or otherwise this might be.

Cheers, Ned
  • #113
  • May 22, 2009 12:54am May 22, 2009 12:54am
Quoting Royston
Hi Vantage,

Here is a Mrs V traffic lights ver 03 with filters. Give it a spin and compare it with the original and let me know if there are any glaring errors.

Filter options (for a long) are
All signals - this shows any time the 3 indicators are in conjunction
Five_shift_and_34 - shows only signals when the 5 shift is also greater than the 34
Only_34 - shows where close is greater than 34 ema
Only_five_shift - shows where close is greater than 5 shift ema.

I also wanted a way of showing trend so made a simple Mrs V trend indicator. This...
Thanks Royston I'll have a look, cheers.
  • #114
  • May 22, 2009 12:55am May 22, 2009 12:55am
Quoting Nedify
Here's a nice EJ trade, good for 20-odd pips. It's the first 5min hl for the session and the first 1 min trade off that hl.
(I am not usually able to trade Asian session, except for some Fridays)

Arrow on 5m shows hl. Vertical line on 1m shows close of 5 min candle and arrow is 1m signal.
Very nice.
  • #115
  • May 22, 2009 6:23am May 22, 2009 6:23am
Quoting Royston
Hi Vantage,

Here is a Mrs V traffic lights ver 03 with filters. Give it a spin and compare it with the original and let me know if there are any glaring errors.

Filter options (for a long) are
All signals - this shows any time the 3 indicators are in conjunction
Five_shift_and_34 - shows only signals when the 5 shift is also greater than the 34
Only_34 - shows where close is greater than 34 ema
Only_five_shift - shows where close is greater than 5 shift ema.

I also wanted a way of showing trend so made a simple Mrs V trend indicator. This...
Taking a break in trading and I've just put up the new v3 now. I'm using the only 34 option as there may be some cases as you mentioned when the 5 ema might just dip below the 34.

I'm not putting on the trend indi as yet.

Many, many thanks for your efforts.

I'll be putting up some charts in a sec.
  • #116
  • May 22, 2009 6:35am May 22, 2009 6:35am
We didn't like the look of ej this morning and just focused on gu.

5 min chart LH1. A perfect lh, took the car in for its service had some breakfast and missed out on that entry. On the 1 min chart, the left red line shows that candle close.

No big problem as 1 min gave 2 very good signals.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min 1.gif Size: 19 KB
Click to Enlarge Name: gu 1 min.gif Size: 21 KB
  • #117
  • Edited 7:12am May 22, 2009 6:41am | Edited 7:12am
A (losing) trade we didn't take.

Gu 1 min the red line. By the time this entry occurred the 5 min chart had a high vol hammer bounce up and stoch was crossed up. Now we have taken many successful trades on re-entries against the 5 min stoch (NB not first trade where 5 min chart MUST agree). Its not an option with a 5 min rejection hammer AND stoch against you, so as mentioned we left this one.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 1 min 2.gif Size: 21 KB
  • #118
  • Edited May 23, 2009 2:45am May 22, 2009 6:50am | Edited May 23, 2009 2:45am
See 5 min chart above marked HL1.

1 min chart left red line shows the first 1 min signal after that. We also did a re-entry trade, the 2nd red line. This was a mistake I missed the double top marked with an x. If I see a double top like that I'd like to see a bit more of a retrace than what happened.

Mrs V didn't even give me any stick on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 1 min 3.gif Size: 21 KB
  • #119
  • May 22, 2009 7:00am May 22, 2009 7:00am
See 5 min chart above HL 2.

Just traded this one badly. Wanted to buy a pullback to even number 1.5800 after HL2 and missed. There were then 2 signals but both occurred with very large 1 min candles so we ignored both.

The trade shown I don't know what the heck I was doing, making tea or whatever, just plain and simple missed out. Everything was still ok on 5 min all indi's still pointing up.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 1 min 4.gif Size: 20 KB
  • #120
  • May 22, 2009 7:04am May 22, 2009 7:04am
After HL 3 on 5 min.

See signal on 1 min. Exited for 21 when pa obviously struggled at y's high.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min 1.gif Size: 19 KB
Click to Enlarge Name: gu 1 min 5.gif Size: 20 KB
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