515 Eurofighter System

Which signal are you refering to, my friend? Hopefully you can attached your chart here next time. It would be much easier for me to explain.

Hello all...

I received e-mail from investopedia.com which I think I should share to all of you here. It is really related to this system rules/strategy.

"Typically, using three different periods gives a broad enough reading on the market - using fewer than this can result in a considerable loss of data, while using more typically provides redundant analysis.

When choosing the three time frequencies, a simple strategy can be to follow a "rule of four". This means that a medium-term period should first be determined and it should represent a standard as to how long the average trade is held.

From there, a shorter term time frame should be chosen and it should be at least one-fourth the intermediate period (for example, a 15-minute chart for the short-term time frame and 60-minute chart for the medium or intermediate time frame).

Through the same calculation, the long-term time frame should be at least four times greater than the intermediate one (so, keeping with the previous example, the 240-minute, or four-hour, chart would round out the three time frequencies)."

Click the link below for the rest of the info.
http://investopedia.com/articles/for...ner=fxweekly7b

Hope this explains why I have the multiple time frames strategy in this system.

Sorry Orange and rest of forum fellows for being away for so long. Well it seems alot of you are gettin well through the system and i m glad . Well for last couple of week i have been tryin and back testing this system on Daily and 4Hr charts and i am happy that it works the same way as it does with 15 and 5 min charts.

Now all the rules are almost same except that you might have to keep sl arnd 80pips or so, but i am very much sure tht you will in return get arnd 80 pips in one move.

well presently i m in a trade since yesterday and lets hope how it end up.

if u look at daily and 4hr stoch, the are both headed down, that means making swing high. Now the entry point should be when 4hr has finished it swing high or swing low. Avoid entering while its flat up there or down there. You need to wait for it to take a direction after makin a swing.

Now why i m sayin tht is because in higher TF you need to a bit more carefull with timings of entry. but once you have entered then jus relax and wait for your target,

Now how much should the target be. i suggest 80 pips but its not necessary. You can go with trailing stops.

Now if u open up ur MT and look at 4hr stoch. observe how the 4hr stoch been makin complete swings. and thts the point which impressed me. you might be in your trade for a day or two at max but u will get your profit.

Now there is another thing which i learned from orange was the importance of 50 sma on 4Hr. well i backtested this also and realized that the best place to enter is when the price is away from 50 sma and stoch is makin either swing high or low. the price will always move back to touch 50 sma in 4hr chart. According to phillip the price usually came back to touch 21 ema. but what orange figured out was also correct tht it always does come back to touch 50 sma. But u should enter in accordance with stoch high or low swings. Look at you charts, draw a 50 sma on 4hr. observe how price moves away and comes back to 50 sma. use swing low or high of stoch for entry.

I hope this further extension to orange system will be of great advantage to those who can sit infront of computers for long.

If you have any queries or question do ask.

Hello all...

Let us see what we can predict for the market today:-

D1
Simply put, the market seems a bit sideways for the last few days and MAYBE the price will be testing the upper Channel very hard today.

H4
The price found resistance @ 50SMA for almost the entire day yesterday (see blue triangle) before it finally break above it and closed higher. However, the stochastic right now giving the SWING HIGH signal with the PA is also resisted against the 200SMA / 89SMA / fib 76.4% area.

If I am right, and if the price in sync with the stochastic, we might see the retracement from this region later today.

H1
Here is why the MTF strategy is very important. The stochastic is about to make its SWING LOW and we can estimate that probably the little rebounce will happen somewhere @ PW 1.3950 (Price Wave - another important subject in this sytem).

Personally, I will favour to SHORT for today because the H4 stochastic is very dominant so far.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

Hello Orange, how are you my friend, its great to see you have taken the 4h rules and incorporated them into your own style and rhythm. I see Arslan also here so it's great to see you guys here. I looked at your system and I am going to study it more during the next week. From what I see is that it is similar to the rules of the 4H price movement but as you said, it gives you much more chances to enter and possible to get 50 to 80 pips a day. I have since been studying the 5 min price action to be able to give me more opportunities to trade during the day.

From what I have seen on the charts, please correct me if I am wrong............this system is great in ranging markets where you can establish trend lines and trading off of them..........I have noticed that when it is in a strong trend, sometime we get the right signal but because the trend is so strong the move is as strong according to our stochastics and thus might turn into a loss.

Ranging markets where price is up and down, using the stochastics gives you a very high probability of pips.

something I noticed on the charts that the system is great for ranging periods and that is exactly what I have been looking for as well to incorporate a ranging system with the macd trending system.

anyways hope to contribute when I can here and great to see you guys.

Great job orange

Hello bro,

It is very good to see you here. I'm glad you are finally come and posting here. Looking forward for more of your action here.

This sytem doing great in both ranging/trending market. If you already master the 515 Strategy and Rules, chances of getting loss in your trade is very little. Getting unlucky loss is just a small part of it.

Hello...

As I mentioned earlier today, the H4 stochastic is very dominant with the PA. If you see the elipse area, the price testing the upper side of the Channel very hard and it is eventually give up and move away from it right now.

Significantly, this area is where the stochastic is making its SWING HIGH, whichis a very high probablity trade as there are also 200SMA, 89SMA, fib 76.4% and the upper side of the Channel that become resistance to the price. A very2 nice place to find SHORT signal.

Fine SHORT entry using the 515 Strategy and Rules will definitely give you a very good timing entry with tight SL.

As per H1, the next area we must always watch are the PW 1.3950 and the temporary support TL (dash line) below it. If the market break below these levels, maybe we will see a very strong bearish market again soon.

As in this system, the orange vertical line in both 15m and 5m TF would be the best SHORT signal of the day. This is because both the stochastic and momentum (in yellow) are at their peak and this is definitely giving a strong prediction that the retracement would happened next, which it eventually did.

Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

So far...so good...just look at the stochastic behaviour below...

Comments/questions are most welcome...

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

Hello traders...

Yesterday's market was a little bit tricky for most of us. So, let us see how it will do today:-

D1
8EMA, 21EMA and 50SMA are still bunch up together in this TF right now. This is a very critical scenario as the price also keep really2 tight between this MAs and the upper side of the Channel, which I think will be tested very2 hard again today, and probably the price will break above it if the stochastic maintain its domination to the PA.

H4
The stochastic didn't made it through all the way to the downside as the price also supported by the temporary TL (see green arrow) below it. 50SMA is already become the immediate support now and the upper side of the Channel is on the threat.

H1
As we can see, the stochastic already making SWING HIGH and we might see some retracement here later on. Loads of MAs bunch up together below the price and so far I don't see any reason why they cannot support EU for the time being.

Well, I think we are bias to the upper side right now. I will neither favouring SHORT/LONG for today. We will have to wait and see until the opening of Euro session to get stronger signal.

Playing with the lower TF is always much better right now. That's what the 515 Eurofighter Sytem is all about.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

the M15 was at the low position,so we cann't sell it bc the M5 at the high place(>80).

You heard the game. Keep it up.

When this happened, sometime we missed/overlook something. The system is about using 5m and 15m (stochastic vs PA) as our entry signal. However, at the same time me must also know what are the higher TF (H1 and H4) doing.

That is why as per Post #1, we have MTF Stretegies. They are:-
1) H1-M15-M5 (primary); &
2) D1-H4-H1 (seconday);

While the MTF #1 strategy is the "zoom in" version for the price emotion and we used these TFs to take advantage from every little "tick" that occurs inside them. This is why this TFs is the primary and this is what the 515 Strategy all about.

The MTF #2 strategy is basically used for us identifying (predicting) the mid-term market trend.

Hope this helps.

Alright all...here we go:-

Per charts below, the price already break above the downtrend Channel as I ancticipated earlier today. However, I still keep it together with the temporay support TL (see green arrow). I WILL REMOVE THEM FROM MY CHART ONCE THEY ARE NO LONGER USEFULL.

And I also make a new uptrend Channel.

Let us see if the previous high (see resitance indy @ 1.4072) will be the next SWING HIGH for H4's stochastic.

Comments/questions are most welcome.

(Note: Also, attached herewith is my latest template)

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

Hello all...

After the BREAKOUT, we should know that favouring the LONG entry signal is the best. As per 5m chart below, the orange vertical line is the first nice signal for the day.

Both stochastic and momentum are at their lowest here as the price found support somewhere @ 21EMA of 15m TF.

Nice + easy 10p profit as per 10p SL/TP rules (entry that based on 5m stochastic signal only).

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

I will test it.
Which mt4 broker gives the best results for this EA?

The broker is not the big issue here, but I use Ibfx since its MT4 has GMT offset @ Zero and it still use 4 decimal pricing.

All the best to you...

You can ask me anytime if you have any question.

Let us look at the 5m chart below.

It is very important to favour only 1 direction during a fast trending like market such as now.

During a fast trending market, which in this case is an uptrending market, the price is hardly close below 21EMA. Most of the time, it will be only riding above the 10EMA (Vice versa if the market downtrending very fast).

If you missed the entry in the beginning of the trend, simply wait the next SWING LOW in 5m stochastic to make your entry (see the orange vertical line) as per chart below. It shows that the price found support @ 50SMA. Another easy profit to be taken into your bag.

This should be very easy to understand. Hope this helps.

Comments/questions are most welcome.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT

Hello,

Thanks for attached the updated template. I'm still trying to understand your thread.