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EUR/GBP Trendmagic System

  • #261
  • Jun 4, 2009 1:34pm Jun 4, 2009 1:34pm
Quoting Blud4oilPrgm
I have some renewed confidence in trading yen crosses now. cool!
Problem is indicator will be obsolete this year when MT5 comes out and brokers no longer support MT4. No indicators will not be backwards compatible.
  • #262
  • Jun 4, 2009 1:50pm Jun 4, 2009 1:50pm
Quoting TudorGirl
All,

Attached a MTF version of the indy. You can set any 4 TFs you want.

I have changed the operation slightly and removed the yellow warning bars in the MTF version. MT4 only allows the return of a maximum of 8 buffers from an indy, and with the red/blue/yellow system, that is 3 for each TF. So we could only do 2 TFs.

I am just using red/blue for now so we can get 4 TFs in the one indy.

I am confident that it is properly programmed to be fully time anchored with no repaint. Just put it on a chart with the TrendMagic and click on M5, M15,...
Hi Anne,

Wow this thread is growing!

I love your new multi time frame indicator.

I found another Multi time frame Trend indicator that I use to use that others might be interested in. It does kind of the same thing as yours just is in a different format. Not sure about the repaint thing.

I have attached it.

Thanks again for what you are doing.
Attached File(s)
File Type: mq4 GMACD Signals.mq4   14 KB | 1,018 downloads
  • #263
  • Jun 4, 2009 1:55pm Jun 4, 2009 1:55pm
Ben hi just a quicky on your chart below

would the white line just before your signal be a signal and why wasnt your signal triggered 1 bar before

Looks interesting

Cheers

Paulus
Attached Image
  • #264
  • Jun 4, 2009 2:10pm Jun 4, 2009 2:10pm
Nisha, I suspected this indi repaints, and it does. At least the one predicting a downturn. Not sure about the other round dots yet. Would like more info on it, though. Do you remember what thread you found it at? I am familiar with the Level 3 Semifor that some swear by. For those that aren't familiar with it, it keeps moving. For instance, if it appears over the 10:00 candle, and the pair kept going up, it would then move to the top of the 11:00 candle. If the pair kept going up, it would then move on top of the 12:00 candle and so on. I watched it move SEVENTEEN times on the GBP/USD one day. It looked like a holy grail indicator on the chart, though. I guess you would too if you were allowed 17 guesses.
What everyone says is that when it appears, it signals a potential reversal and to get ready. As I say, some swear by it. I swear AT it.
Quoting nisha4x
Anne

another indi i am checking out is called 4x 3 semafor, found this on a thread, just studying it, it seems to be very accurate in finding tops and bottoms, maybe u wanna have a look, attaching it here

nisha
  • #265
  • Jun 4, 2009 2:27pm Jun 4, 2009 2:27pm
Quoting BenQ
Here's my current setup and a trade example. Scalping M1 retracements on an M15 chart. Top two rows changed to M15, bottom two both M1. This will avoid any repainting scenarios.
Hi,

I really don't get it why you take two times m1 and m15 tf?
  • #266
  • Jun 4, 2009 2:40pm Jun 4, 2009 2:40pm
Plus 70 pips on my live account today on three pairs just tinkering with it. I like the multi level signals that I place at the bottom of a one hour chart. When the 5 minute is the same color as the one hour, I make the trade. The exits are the thing to refine. On the 3 pairs, I simply put stops at roughly 10 pips below the point they were at when I was in the plus by 20, and they hit the stop. Still have a USD/CHF long going that is plus 13, with a stop of plus 6.

Nice new system, Paulus, and great work on the indicators by Tudor Girl. Let's hope for continued success, as nothing could be easier or sweeter than making money consistently by following red or blue dots. (Good thing we have a rocket scientist on board, because I sure aint one!)
  • #267
  • Jun 4, 2009 2:40pm Jun 4, 2009 2:40pm
Two charts to review.... the first was leaving the chart as is, red line shows where the 1min MTF changed color.

Second is after changing to the 5min timeframe, then back again. As you can see, the color change shows one bar back on the 1min MTF, and there is an additional one bar color change a few bars back.

Perhaps I have the indie setup incorrectly?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: orig.gif Size: 20 KB
Click to Enlarge Name: second.gif Size: 20 KB
  • #268
  • Jun 4, 2009 2:40pm Jun 4, 2009 2:40pm
Quoting Scorpius
Problem is indicator will be obsolete this year when MT5 comes out and brokers no longer support MT4. No indicators will not be backwards compatible.
The industry have been talking about MT5 now for more than 2 years they started to talk about it when the MT4 was released. At first it was planned to release in the end of last year but still no news about it. So I seriously doupt that there will be any MT5 platform available in the near year and the half. Second thing is that if it comes out there will be at least half or even a year period where both platforms will be out.
More info on MT5 is here http://metatrader5.blogspot.com/

Kristjan
  • #269
  • Jun 4, 2009 2:40pm Jun 4, 2009 2:40pm
I was just trying to show a signal in the center of the chart.

But to your question, the price bar to the left of your white line would have been a long entry for me, because the bar before (2 bars before white line) closed with 4 vertical blue squares and the lag is popping over .15.

Your white line shows 4 red squares. For me, if it was a valid entry the entry would be on the next row. But it was not valid because lag has to be on top and coming down through .85.

Quoting Paulus
Ben hi just a quicky on your chart below

would the white line just before your signal be a signal and why wasnt your signal triggered 1 bar before

Looks interesting

Cheers

Paulus
  • #270
  • Jun 4, 2009 2:45pm Jun 4, 2009 2:45pm
ok simple set up here

 

  1. 5 min chart
  2. HG set to 5 15 and 30 min
  3. 15 and 30 give me direction the 5 is my entry and as long as the colour matches with that of the 15 or 30 thats fine.
  4. I do not trade the Asian sesiion I want volatilty to move the price away from my stop,consolidations I dont want..lack of volatilty can = consolidations


Short signal

 

  1. 5min red with either 15 or 30 min
  2. Price must be below the trend magic indicator as we are going to use it as a sliding stop so need it above us in a short position
  3. Stop is initially placed at the horizontal TM line above our signal I will post an expanded shot of this
  4. The stop is then moved in line with the horizontal line of TM close up will show this
  5. We will be stopped out when the price breaks our last stop position

On the 5min chart for GBPJPY we have the following trades as per the chart

Seems good as a kicking off point for me I like the 5min chart not to slow catch bigger moves not as manic as the 1min and cuts out some noise

Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5min set up.gif Size: 28 KB
Click to Enlarge Name: sl moves.gif Size: 30 KB
  • #271
  • Jun 4, 2009 2:48pm Jun 4, 2009 2:48pm
Quoting kristjantelve
The industry have been talking about MT5 now for more than 2 years they started to talk about it when the MT4 was released. At first it was planned to release in the end of last year but still no news about it. So I seriously doupt that there will be any MT5 platform available in the near year and the half. Second thing is that if it comes out there will be at least half or even a year period where both platforms will be out.
More info on MT5 is here http://metatrader5.blogspot.com/

Kristjan
Ok then you have a year or so to use the indicator the point is keeping the source is that no one can use this long term, no one can get it recoded to MT5 or Ninja or anything else so what's the point on relying on it?
  • #272
  • Jun 4, 2009 2:49pm Jun 4, 2009 2:49pm
Because I don't need those two other rows, so might as well just make them duplicates. You can change the color to "none" in the parameters, but I use this approach. I'm just interested in M1 and M15. If you wanted to throw in H1, you can do that too, but I would place the indi then on an H1 chart.

Every other MTF indicator I have ever seen, repaints by a matter of necessity if placed on the lowest TF because of the differing bar counts.

This has just been by approach so far with a new indicator. Time will tell whether I keep it.


Quoting MCFly
Hi,

I really don't get it why you take two times m1 and m15 tf?
  • #273
  • Jun 4, 2009 2:52pm Jun 4, 2009 2:52pm
Quoting BenQ
Because I don't need those two other rows, so might as well just make them duplicates. You can change the color to "none" in the parameters, but I use this approach. I'm just interested in M1 and M15. If you wanted to throw in H1, you can do that too, but I would place the indi then on an H1 chart.

Every other MTF indicator I have ever seen, repaints by a matter of necessity if placed on the lowest TF because of the differing bar counts.

This has just been by approach so far with a new indicator. Time will tell whether I keep it.
Ah hihi k this sounds logical. My fault
  • #274
  • Jun 4, 2009 2:55pm Jun 4, 2009 2:55pm
Quoting Scorpius
Ok then you have a year or so to use the indicator the point is keeping the source is that no one can use this long term, no one can get it recoded to MT5 or Ninja or anything else so what's the point on relying on it?
The simple and easy answere is a copyright and I am 100% with every person who would love an like to keep their work for them selve. If the indicator works good you do not have any need to change it anyway. Second thing is that if that thread lives so long to see TM5 then I am sure that greator of the indicator will for sure code it for MT5 as well.

Kristjan
  • #275
  • Jun 4, 2009 3:04pm Jun 4, 2009 3:04pm
I have a question. It seems that the mtf indicator doesn't include the case of different colours of bb macd and trend magic. The normal indicator shows in this case a yellow bar but the mtf displays only red or blue.

Picture was taken on the 1 min.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 m.gif Size: 22 KB
  • #276
  • Jun 4, 2009 3:07pm Jun 4, 2009 3:07pm
Paulus, I like your approach in post #270 using the TM as a horizontal slider. I think I will incorporate that.

Without knowing the code though, I would suspect that you will eventually see repainting when a higher TF changes. Maybe do it the other way around and place your setup on M30, so that's accurate, and watch the lower rows. But then you would have to drop down to M5 and watch your stops. I think we all need more time with this indi to see its limitations.

I prefer trading on H4 and daily, and still looking for a good setup with this indi.
  • #277
  • Jun 4, 2009 3:15pm Jun 4, 2009 3:15pm
Quoting MCFly
I have a question. It seems that the mtf indicator doesn't include the case of different colours of bb macd and trend magic. The normal indicator shows in this case a yellow bar but the mtf displays only red or blue.

Picture was taken on the 1 min.
You can find answere to your question in post nr 220 in this thread.

Kristjan
  • #278
  • Jun 4, 2009 3:19pm Jun 4, 2009 3:19pm
Quoting kristjantelve
You can find answere to your question in post nr 220 in this thread.

Kristjan
Ah okay but maybe 3 tfs and 3 colours would be the better option.
  • #279
  • Jun 4, 2009 3:36pm Jun 4, 2009 3:36pm
Quoting kristjantelve
The simple and easy answere is a copyright and I am 100% with every person who would love an like to keep their work for them selve. If the indicator works good you do not have any need to change it anyway. Second thing is that if that thread lives so long to see TM5 then I am sure that greator of the indicator will for sure code it for MT5 as well.

Kristjan
Trend magic was source was shared from decompiled indicator so...would not have this indi now if no one shared trend magic source.
  • #280
  • Jun 4, 2009 3:45pm Jun 4, 2009 3:45pm
Quoting Scorpius
Trend magic was source was shared from decompiled indicator so...would not have this indi now if no one shared trend magic source.
What's your point man?? Only negative stuff!!! Some people are born to win.........other are born to be an a****
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