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EUR/GBP Trendmagic System

  • #1,081
  • Jun 9, 2009 10:47am Jun 9, 2009 10:47am
Quoting Horrigan
OK, good idea to re-read this thread. I try to explain you simpler. So. If you ride the M5 timeframe, MTF indicator represent ONE M15 candle by three boxes. But as price changes, may change position (or colour) of indicator. But indi doesn't remember where was a PARTIAL position indicator (on half-of-time one 15M CANDLE (5th-10 th minute, for example) and remember ONLY close position (on 15th minute of candle, while you get new one) Other 1st - 5th and 6th-10th minute MAY repaint, but it's doesn't matter (IMHO). Understand it better? repainting...
Hi Horrigan,

I understand perfectly the logic of repaint MTF indicator because they are base on Price_Close. But for testing purposes, if i change the Price_Close to Price_Open in the indicator that allow me to really see the past without any re-painting possible.

So if I base my decision on a Price_Open indicator and stick to it, I can calculate a fare probability Win/Lose ratio. The HG_0001a are a very good visual indicator (like we all know). He is base on Price_Close.

I took the liberty (for testing purpose and don't want to change anything on your indicator… hope not out of line here! ) of changing the Price_Close to Price_Open on HG and MT. The result is pretty much the same but with no re-paint what so ever.

My question is: Why program indy with Price_close, is there a major reason that I’m not aware if I trade Price_Open indy?

Regards,

TakeOTW
  • #1,082
  • Jun 9, 2009 10:50am Jun 9, 2009 10:50am
When I designed the indicator internal logic, it was based on concensus.

But just now and again it speaks with one voice!!

EVEN I (competent coder, but incompetent trader) can't fail to spot these signals!!

Anne
Attached Image (click to enlarge)
Click to Enlarge Name: paulus10.gif Size: 12 KB
  • #1,083
  • Jun 9, 2009 10:58am Jun 9, 2009 10:58am
Whilst morning european session/ london session have been quoted correctly by most, pls bear in mind that for a while now we've been having very decent trend trading days.

It helps to be aware of certain times that I've noticed often come into play where price may stall/retrace/reverse.

I'm generally aware of times around 20 and 40 mins past the hr, from 5 o'clock bst. Check how many times at say 5.35/5.40 a trend will start off. Similarly around 0720/0740/0820/0910-20. if you scroll back long enough.

Again, I like to watch out for around lunch time start and just after at major financial centres.

Personally I look at eu/ej/gu. generally one of these will be messy, so avoid that.

Just a general observation.

Pardy
  • #1,084
  • Jun 9, 2009 11:00am Jun 9, 2009 11:00am
Quoting TudorGirl
When I designed the indicator internal logic, it was based on concensus.

But just now and again it speaks with one voice!!

EVEN I (competent coder, but incompetent trader) can't fail to spot these signals!!

Anne

TG & P:

  • #1,085
  • Jun 9, 2009 11:01am Jun 9, 2009 11:01am
Quoting TudorGirl
When I designed the indicator internal logic, it was based on concensus.

But just now and again it speaks with one voice!!

EVEN I (competent coder, but incompetent trader) can't fail to spot these signals!!

Anne
Coding and Trading

With coding you can clearify a specific aspekt of the market, inTrading you have to put it all together, watch for confirmation and make a decision. When putting several indicators into one, this can only work if the situation is completely clear.

Most of the time it's not so clear. In this case, an all inclusive indicator will not help you much, I guess. The indicator can not make the decision.

But anyway, thanks for the good work!!!!
/ ... clarifying decisions ... /
  • #1,086
  • Jun 9, 2009 11:01am Jun 9, 2009 11:01am
Quoting TudorGirl
You can say that again. My TM on GJ M5 has been horizontal since 0820 UK-BST this morning. BORING!!!!!

While we are waiting for Godot, please will you chaps give me a comprehensive answer to my questions:

(1) Some days I am in front of the PC a lot, but other days, impossible. I would like to focus on a set time when I will get the biggest bang for my buck. Many of you seem be be very keen on the end of the Asian session, even getting out of bed at hideous hours of the night for it!! Luckily, this is a fairly civilised time in the UK. Please...
If you set up ATR on 5m chart with setting at 6 or 12, the graph gives a fairly accurate reflection of market activity.

You can see where it peaks and note the timeframes.

In addition, you can use some of the custom indicators available for MT4 that draws a " box " around the times that you specify in order to identify the different trading sessions like LDN, US, Asia etc
By comparing highs and lows of the different periods, it gives you another perspective of best trading times in terms of market activities and general trading ranges.

If you have the coding ability and IT skills to extract this information and massage it into a graph or a format that makes it easy to analyze, you will probably have your answer.

This could probably even be extended to what days are better to trade etc.

Just an idea, I do it visually because I am IT challenged.
" Never let the past hold the future to ransom "
  • #1,087
  • Jun 9, 2009 11:04am Jun 9, 2009 11:04am
Living in California, I can't trade the European session. In looking at the charts, it appears that has been the best time frame. There have been a few decent trades in the New York session, but usually the trend is well under way before the New York open, and there's a risk of getting in at the end of the run.
When an EA is developed (notice I'm saying WHEN and not IF so I can keep my sanity), I will be one happy camper. I'm tired of reading about everyone else getting pips while I'm asleep!!#@!
  • #1,088
  • Jun 9, 2009 11:11am Jun 9, 2009 11:11am
Quoting TudorGirl
When I designed the indicator internal logic, it was based on concensus.

But just now and again it speaks with one voice!!

EVEN I (competent coder, but incompetent trader) can't fail to spot these signals!!

Anne
Your indicator is great. BUT you can't backtest(visual) that indicator, which repaints the bigger timeframes. You have drawn a vertical line at the chart. In real time the color of 30 and 15min was red and became blue many bars after.

John
  • #1,089
  • Jun 9, 2009 11:13am Jun 9, 2009 11:13am
Quoting TudorGirl
When I designed the indicator internal logic, it was based on concensus.

But just now and again it speaks with one voice!!

EVEN I (competent coder, but incompetent trader) can't fail to spot these signals!!

Anne
Hi Anne

Just a dum question, I noticed you left a line blank on your indicator which gives the question marks. So what happens there, you still get colored boxes. What TF are the question marks?

I personally do not like the question mark, so I put one of the TF's in twice,
does this still give accurate result? Seems to as far as I can tell

Cheers
  • #1,090
  • Jun 9, 2009 11:15am Jun 9, 2009 11:15am
Quoting johndata
Your indicator is great. BUT you can't backtest(visual) that indicator, which repaints the bigger timeframes. You have drawn a vertical line at the chart. In real time the color of 30 and 15min was red and became blue many bars after.

John

Hope somebody can change this。。。
Waiting...
  • #1,091
  • Jun 9, 2009 11:16am Jun 9, 2009 11:16am
Quoting paradoxical
Living in California, I can't trade the European session. In looking at the charts, it appears that has been the best time frame. There have been a few decent trades in the New York session, but usually the trend is well under way before the New York open, and there's a risk of getting in at the end of the run.
When an EA is developed (notice I'm saying WHEN and not IF so I can keep my sanity), I will be one happy camper. I'm tired of reading about everyone else getting pips while I'm asleep!!#@!
I'm also in US and am finding it hard to stay up late enough. Something I tried last night may be helpful. I used the attached indicator along with the others on a daily chart. Tried to pick the ones at the earliest stage of an uptrend/downtrend. Have a look

In the late asian session I played these pairs with a T/P of usually the second choice on the MT menu under TP (on the live order), that varies from pair to pair. 100/pip stops.

I played these pairs on a daily: gbp/chf, eur/gbp, gbp/usd, aud/nzd, cad/chf have a look. Any trades still open when I woke up around 11 EST were closed
Attached File(s)
File Type: ex4 5-8openEMA_Cross_Arrow_with_Alerts.ex4   5 KB | 601 downloads
  • #1,092
  • Jun 9, 2009 11:17am Jun 9, 2009 11:17am
Quoting TudorGirl
You can say that again. My TM on GJ M5 has been horizontal since 0820 UK-BST this morning. BORING!!!!!

While we are waiting for Godot, please will you chaps give me a comprehensive answer to my questions:

(1) Some days I am in front of the PC a lot, but other days, impossible. I would like to focus on a set time when I will get the biggest bang for my buck. Many of you seem be be very keen on the end of the Asian session, even getting out of bed at hideous hours of the night for it!! Luckily, this is a fairly civilised time in the UK. Please...
Hi Anne,

I trade the Asian but it's really more of a function of the time suits my schedule (in CentralStandardTime in the US) more than it's a great trading session. The volatility is usually considerably lower than Frankfurt/London/US.

If you have the capability with work to trade Frankfurt/London that imho is the best time to catch sizeable trends.

As far as currency pairs -- I watch the GJ, GU, EJ, and EU like you. I have not traded the EG yet but as it is this threads namesake I think I better give it a go.

Cheers,
MB
  • #1,093
  • Jun 9, 2009 11:19am Jun 9, 2009 11:19am
To TG and P

Thank you so very much for this system and all the hard work. Most of all, thank you for sharing it with us free of charge.

I am an incompetent trader....but will not give up. After a few years, my
mind was burned out with too much info and could not clearly chose one way or another for confusion. I am learning to use this system now. I just read
this post from Paulus:

"..using this method in its purest form we do not think like that …we do not carry out any analysis...we look at colour blocks. They do all the work and we look at TM line "

Now if I can just get rid of those other 'analysis' stuff and concentrate on
coloured blocks and TM line (and candles maybe!!) I should be making
pips like all of you. Thanks again...
  • #1,094
  • Jun 9, 2009 11:24am Jun 9, 2009 11:24am
Quoting goldsurfer
Hi Anne

Just a dum question, I noticed you left a line blank on your indicator which gives the question marks. So what happens there, you still get colored boxes. What TF are the question marks?

I personally do not like the question mark, so I put one of the TF's in twice,
does this still give accurate result? Seems to as far as I can tell

Cheers
The indy lets you put in any 4 TFs you want (eg 1, 5, 15, 30, 60, 240, 1440, etc).

But Paulus in his template only wanted 3 so he sets one to "0" which the indy can't understand so it puts "??".

That's all!!

Anne
  • #1,095
  • Jun 9, 2009 11:32am Jun 9, 2009 11:32am
Quoting johndata
Your indicator is great. BUT you can't backtest(visual) that indicator, which repaints the bigger timeframes. You have drawn a vertical line at the chart. In real time the color of 30 and 15min was red and became blue many bars after.

John
Only been a couple of days really working on the TFs, times, charts (candle, line, Renko, ect.). There is testing going on with friends of Anne at different brokers and on different platforms.

Key to all the testing will be which setup provides a positive expectancy sufficient to trade over and over. Ability to test with large brokers is fairly easy as Anne should be able to provide source code to her friends, have them run the various results on multiple TF's and with multiple chart setups.

Patience of an oyster is key ingredient here. All needed work is being done behind the scenes. This is ALL PRELIMINARY in nature.

The TM indi is very easy to utilize in its present format. It has external input capabilities already which a trader can change and tinker with as they choose. MTF will take a bit longer as it has ridiculous amount of variables to factor in.

Will be worth the wait.

Regards.
  • #1,096
  • Jun 9, 2009 11:33am Jun 9, 2009 11:33am
Quoting TudorGirl
The indy lets you put in any 4 TFs you want (eg 1, 5, 15, 30, 60, 240, 1440, etc).

But Paulus in his template only wanted 3 so he sets one to "0" which the indy can't understand so it puts "??".

That's all!!

Anne
Yes, I understand that, but the 0 which yields the question mark does not blank out the color boxes! So, what is there when a question mark is showing?

People think different, I agree with Paulus, I don't need to see the 1 hr when trading 1m or 5m chart, but my solution is to repeat one, like two 5's or two 1's.

Cheers
  • #1,097
  • Jun 9, 2009 11:37am Jun 9, 2009 11:37am
Quoting takeotw
Hi Horrigan,

I understand perfectly the logic of repaint MTF indicator because they are base on Price_Close. But for testing purposes, if i change the Price_Close to Price_Open in the indicator that allow me to really see the past without any re-painting possible.

So if I base my decision on a Price_Open indicator and stick to it, I can calculate a fare probability Win/Lose ratio. The HG_0001a are a very good visual indicator (like we all know). He is base on Price_Close.

I took the liberty (for testing purpose and don't want to change...
Yes, good idea (but I'm not be able to programming). However, if i thing logically about it, it does not solve anything, the indicator will be "remember"only last value- blue/red position (not on close, but on open next candle). It follows, i think, delay for another one bar.What be good for me OPEN value, which may be 15 minutes old? Example, testing if I don't embroil about it. I have on first 5m candle MTF(15m) blue, then bear rally, second box is red, third too. On close was be (after redraw) RED, so right. But if i apply it for open, indi after redraw (which occurs of kernel of counting this) stay BLUE, so bad (respective one M15 candle (three M5) delayed. Understand?
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  • #1,098
  • Jun 9, 2009 11:38am Jun 9, 2009 11:38am
Quoting goldsurfer
Yes, I understand that, but the 0 which yields the question mark does not blank out the color boxes! So, what is there when a question mark is showing?

People think different, I agree with Paulus, I don't need to see the 1 hr when trading 1m or 5m chart, but my solution is to repeat one, like two 5's or two 1's.

Cheers
Yeah - sorry! I forgot to mention that Paulus' template also sets the color of the "??" timeframe to "None" so the bars are invisible.

In the absence of a valid TF, the indy could put out any crap so Paulus blanks it out to hide it.

I just leave mine on 60, 30, 15, 5 but hide the 60 (=H1) bars. There is no need to set it to 0.

Anne
  • #1,099
  • Jun 9, 2009 11:41am Jun 9, 2009 11:41am
eur/aud is lined up on all TFs short @ 1.75321
  • #1,100
  • Jun 9, 2009 11:41am Jun 9, 2009 11:41am
Quoting Edgetrader
Only been a couple of days really working on the TFs, times, charts (candle, line, Renko, ect.). There is testing going on with friends of Anne at different brokers and on different platforms.

Key to all the testing will be which setup provides a positive expectancy sufficient to trade over and over. Ability to test with large brokers is fairly easy as Anne should be able to provide source code to her friends, have them run the various results on multiple TF's and with multiple chart setups.

Patience of an oyster is key ingredient here. All...
Yes it will be worth the wait! But don't you know, it's really not that hard to set up a profile with the single tf tudorgirl indie and 4 charts

Cheers
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