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EUR/GBP Trendmagic System

  • #361
  • Jun 5, 2009 9:37am Jun 5, 2009 9:37am
I think should keep it simple, can always add your own indicators to your charts alongside and agree QQE should not be coded into it.
  • #362
  • Jun 5, 2009 9:40am Jun 5, 2009 9:40am
Quoting Edgetrader
There is a plethora to chose from. Indi should be as SIMPLE as possible. As mentioned before, a SIMPLE moving average (perhaps a 14 linear weighted with a weighted close for a 5m TF) will suffice as a SL buffer. Entries can be as divulged with you newest vesion that has less lag properties. This will allow a trader to catch each and every decent move on ANY pair or index.

Regards.
Are you sure with WMA (14, weighted)?? if I attach to a chart, i looks as below).. I'm not sure that this setting is good choice
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 27 KB
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  • #363
  • Jun 5, 2009 9:44am Jun 5, 2009 9:44am
Quoting Paulus
currently long GBPJPY from 155.82 on this system.

Hi Paulus,

What setup are you using? Which timeframe too?
This is my setup, I couldn't time the entry/exit correctly.

http://img301.imageshack.us/img301/1358/qqqpah.png
  • #364
  • Jun 5, 2009 10:02am Jun 5, 2009 10:02am
Quoting Horrigan
Are you sure with WMA (14, weighted)?? if I attach to a chart, i looks as below).. I'm not sure that this setting is good choice
Depends. Which TF are you going to trade? Larger TF = larger WMA. Candlestick chart, bar chart, Renko block chart? All of these matter when 'curve fitting' a MA that works for your particular trading method. Using a 50 WMA on a 5M chart will have you looking a huge potential losses whereas a 14 or 21 WMA will allow you to exit a trade and re-enter based on your own comfort zone.

In addition, what are your trading goals? Are you going after 15-20 pips or 150 to 200? Far less stressful going after the lesser amounts. Spreads are inconsequential provided your trading plan has a positive expectancy.

Also, the EURUSD pair, while inexpensive to trade, is a bit lacking in needed PA movement for my own taste as I prefer to be in and out as quickly as possible. Still, as shown, very easy to trade with a 14 WMA and a Trix indi as a qualifier. Especially a chart that limits normal PA noise on a lower TF.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.jpg Size: 104 KB
  • #365
  • Jun 5, 2009 10:09am Jun 5, 2009 10:09am
What setup are you using? Which timeframe too?
This is my setup, I couldn't time the entry/exit correctly.
--------------------------------------------------------------
using 5min chart

then setting M5,M15,M30

Closed out with 55 pips

now long from 156.42 from 15.20pm uk time stop now at 156.52

P
  • #366
  • Jun 5, 2009 10:15am Jun 5, 2009 10:15am
Really does not matter which platform one choses. MT4 is quite adequate, even with all the noise, to get a decent swing trade with Anne's indi provided you get a pair with decent movement. Same trade taken with candlestick as opposes to Renko still results in a 50 pip gain.

Used Heiken Ashi as a qualifier here instead of a Trix on a Renko charting platform setup. This may work very well for the purposes of this thread, that being, Anne's indi with as few qualifiers as needed to make the indi relatively accurate on lower TF.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 19 KB
  • #367
  • Jun 5, 2009 10:19am Jun 5, 2009 10:19am
Quoting kristjantelve
Anne that is excelent very well done. The indicator you have coded is just fantastic thank you for that. The only small thing that is missing is the sound alert when the indication changes color.
If I can suggest there might be 3 alerts when we have red indication sound alert could say "enter short", for blue "enter long" and for yellow it might say somekind of warning or something like this. To make an audio fail with desired alerts you can use the following link http://www.research.att.com/~ttsweb/tts/demo.php...
Tudorgirl,

I'd like to second kristjantelve's request that an alert be added.

Personally, I see the highest percentage trades are when the multi-timeframe indicator lights up the same color on each bar (all red, or all blue), naturally when this happens the trend will either just be forming or at an early spot. It's easy to miss a trade in forex if you aren't staring at certain pair.

So maybe you can setup an alert to trigger when this happens.
  • #368
  • Jun 5, 2009 10:26am Jun 5, 2009 10:26am
I trade with 5M timeframe, normal (japanese) candles (Heiken ones i don't know how to use), but recommended 14 WMA on 5M TF gives too close to actual price. It's possible that I don't understand you accurately, but those setting have not some value (3,4,5, max. 10 pips far to price) - viz. attached chart above, especially it's left side, before US-fundaments, which are confusing price..
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  • #369
  • Jun 5, 2009 10:28am Jun 5, 2009 10:28am
Quoting Paulus
What setup are you using? Which timeframe too?
This is my setup, I couldn't time the entry/exit correctly.
--------------------------------------------------------------
using 5min chart

then setting M5,M15,M30

Closed out with 55 pips

now long from 156.42 from 15.20pm uk time stop now at 156.52

P
Sorry Paul, not sure if your question was directed to me or someone else.

If it was me, I will say that Renko charts are not TF oriented and as such they do not utilize such an input. They are 100% 'price action' oriented and you simply set the size of the blocks as you wish to visually appeal to you.

My own are set at 0.1 which equals 10 pips per block as you see them on my chart shots.

Regards.
  • #370
  • Jun 5, 2009 10:36am Jun 5, 2009 10:36am
Quoting Horrigan
I trade with 5M timeframe, normal (japanese) candles (Heiken ones i don't know how to use), but recommended 14 WMA on 5M TF gives too close to actual price. It's possible that I don't understand you accurately, but those setting have not some value (3,4,5, max. 10 pips far to price) - viz. attached chart above, especially it's left side, before US-fundaments, which are confusing price..
I can understand your confusion.

Heiken Ashi is a normal indicator provided on almost all MT4 platforms. I simply place the indi on the 5m chart and go into my 'preferences' and make the normal candles and wicks the same color as my background in order to eliminate them from visual reference.

Heiken Ashi are 'trend' oriented and work well for general purposes. Again, I do not follow the EurUsd pair from a trading perspective, but the chart shot of the beast posted earlier accurately reflect easily seen trading opportunities with a 14 WMA.

Regards.
  • #371
  • Jun 5, 2009 10:44am Jun 5, 2009 10:44am
Quoting Horrigan
I trade with 5M timeframe, normal (japanese) candles (Heiken ones i don't know how to use), but recommended 14 WMA on 5M TF gives too close to actual price. It's possible that I don't understand you accurately, but those setting have not some value (3,4,5, max. 10 pips far to price) - viz. attached chart above, especially it's left side, before US-fundaments, which are confusing price..
Perhaps I misunderstood your reference to the PA before the NFP news this a.m..

All PA to the left of the news release is inconsequential to me personally as I do not trade most of the London or any of the Asian sessions. As such, all of my personal trading is done during the peroid of 4:00 a.m. until 9:00 a.m pacific time which covers the London/ U.S. overlapping time period.

Regards.
  • #372
  • Edited 11:12am Jun 5, 2009 11:00am | Edited 11:12am
Quoting Edgetrader
Perhaps I misunderstood your reference to the PA before the NFP news this a.m..

All PA to the left of the news release is inconsequential to me personally as I do not trade most of the London or any of the Asian sessions. As such, all of my personal trading is done during the peroid of 4:00 a.m. until 9:00 a.m pacific time which covers the London/ U.S. overlapping time period.

Regards.
OK, i will try to explain it. We are talking about the 14 WMA as a stoploss trigger - so you can see on chart before fundaments (14:30 CEST - chart is in CEST). Here, before NFP numbers you see "your" MA unnecessarily close to actual price, therefore I cannot use it as stoploss trigger.
Oh, I understand you about time close-before to fundaments, but this appears full time (except some "rallyes", where the MA aren't so quick)

Heiken Ashi candles I know how to set-up, but don't know how I may read it, what exprees and how I intepret entry/exit signal with it
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  • #373
  • Jun 5, 2009 11:13am Jun 5, 2009 11:13am
here is my current trade I use this plateform to highlight the signals not trade from but do use MT4 for that

as you can see the TM indicator has just moved up at an angle so I have moved my SL from the 1st plum coloured level to the 2nd plum coloured level.

Entry 156.42 entry to price now 70 odd pips but my stop is at 156.79 so I have 37 pips in the bag I will update this trade on every stop move
Attached Image (click to enlarge)
Click to Enlarge Name: signal.gif Size: 24 KB
  • #374
  • Jun 5, 2009 11:16am Jun 5, 2009 11:16am
Interesting Paulus. Is this the SL method you are currently using?

Quoting Paulus
here is my current trade I use this plateform to highlight the signals not trade from but do use MT4 for that

as you can see the TM indicator has just moved up at an angle so I have moved my SL from the 1st plum coloured level to the 2nd plum coloured level.

Entry 156.42 entry to price now 70 odd pips but my stop is at 156.79 so I have 37 pips in the bag I will update this trade on every stop move
Believe and Achieve!
  • #375
  • Jun 5, 2009 11:23am Jun 5, 2009 11:23am
Yes posted a couple days ago ..works well and lets you ride out consolidations quite well and its uses what we have

And up again
Attached Image (click to enlarge)
Click to Enlarge Name: signal sl.gif Size: 24 KB
  • #376
  • Jun 5, 2009 11:27am Jun 5, 2009 11:27am
Quoting Paulus
Yes posted a couple days ago ..works well and lets you ride out consolidations quite well and its uses what we have

And up again
Great Paulus! Thanks much! I will test this out. I liek that it uses what we currently have and not additional indicators. I prefer to keep it as simple as possible and why not leverage the power of this great indicator even more.
Believe and Achieve!
  • #377
  • Jun 5, 2009 11:31am Jun 5, 2009 11:31am
and again above consolidation now may get some nice pips

currently up 59 pips up 108 pips to atcutal price ..I dont want to be any closer I want breathing room and then be happy with what I take
Attached Image (click to enlarge)
Click to Enlarge Name: signal sl move 4.gif Size: 24 KB
  • #378
  • Jun 5, 2009 11:42am Jun 5, 2009 11:42am
Quoting Horrigan
OK, i will try to explain it. We are talking about the 14 WMA as a stoploss trigger - so you can see on chart before fundaments (14:30 CEST - chart is in CEST). Here, before NFP numbers you see "your" MA unnecessarily close to actual price, therefore I cannot use it as stoploss trigger.
Oh, I understand you about time close-before to fundaments, but this appears full time (except some "rallyes", where the MA aren't so quick)

Heiken Ashi candles I know how to set-up, but don't know how I may read it, what exprees and how I intepret entry/exit...
Ok.

'Unneccesarily' close is based on 'your' perspective of an appropriate SL sensitivity measure.

Every trader out there has different TP/SL guidelines they utilize. Also, not everyone trades the MT4 platform or candlestick charts. As such, placement of a MA will be visually different from platform to platform. This is why people 'tinker' with these indi's when 'curve fitting' to fit their personal visual preferences.

I am not recommending any particular indi, but am showing some for comparative purposes. As I trade a Renko block setup as opposed to your Candlestick setup, there will naturally be differences in appearance.

Most importantly, you use a 5m TF which I do not. Renko block charts are set up to form on pure price action and are not TF sensitive of dependent.

As shown, a Renko setup with a 14 WMA quite accurately depicts a solid entry point for todays PA during NFP news release until some time thereafter. Further, it virtually eliminates the noisy gyrations commensurate with candlestick charts. As for the time period to the left as you inquire about, it does not matter to me personally as I do not trade the Londo session at that time.

However, as we are all simply trying to find a good fit for Anne's indi as it is currently designed, I have added the EurUsd 5m MT4 chart and simply modified the 14WMA to a 21WMA to privide you a comparison model.

In the final analysis, it is up to each trader to find the indi they are most comfortable with. When Anne finished her modified version with less lag, we can all then place it on a chart and see where entries and exits are from there. Until then, this is nothing more than a usual indi addition and subtraction game.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.jpg Size: 106 KB
  • #379
  • Jun 5, 2009 11:44am Jun 5, 2009 11:44am
For comparison
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 69 KB
  • #380
  • Jun 5, 2009 11:50am Jun 5, 2009 11:50am
Quoting TudorGirl
Luckily, I have the source code so can recode for any platform. I have already written an "Easy Language" version for some folks.

However, I am now working on a much more powerful pair of indys (STF/MTF) that use the phase/group delay tradeoff to remove nearly all the remaining lag.

I am getting potentially almost 40% more pips per trade than with the current TMagic/HG_0001a/HG_0001a_MTF setup. The new indys nail the tops and bottoms to within a bar or so.

We are not finished yet.... Only just starting!

Anne


Hi Anne,
Your knowledge of writing code is simply astonishing & amazing. From your previous quote you mentioned that you wrote an "Easy Language" version. Could you please post it, as I am a TradeStation user. I have read all of the threads and did not see it anywhere. Your work and help with these indicators is greatly appreciated.
Thanks in Advance,
Robbin
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