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C4 Scalping

  • #1,481
  • Jul 19, 2009 9:25am Jul 19, 2009 9:25am
Quoting cce
Hi Guys,
Trust all are well as we rest up over the weekend from trading last week.
There are some very talented programmers here on this C4 thread. I very much appreciate the efforts that are so freely shared here on the forum.

[size=3]I was doing a bit of web surfing for a certain Trix Indy and have been unable to find it in MT4 thus far....
Isn't the TSD forum still down or did they change their website address?

Yes, I think Trix has been the trigger for the C4 from the start of this thread.
And the Swingman has been steadily improving it here ever since, with some info from TG on the original math behind it's initial design..
  • #1,482
  • Jul 19, 2009 9:25am Jul 19, 2009 9:25am
Quoting cce
Hi Guys,
Trust all are well as we rest up over the weekend from trading last week.
There are some very talented programmers here on this C4 thread. I very much appreciate the efforts that are so freely shared here on the forum.

I was doing a bit of web surfing for a certain Trix Indy and have been unable to find it in MT4 thus far. I posted this request on the TSD forum as well as they do alot of work with MT4 there too.

[size=3]I wondered, if maybe, anyone here knows of this indicator...
Already discovered post#861.

Swingman has already coded for it 2colours,4 colours and even MTF versions both 2xcolours and 4xcolours.

Swingman is just too fast and too comprehensive to our requests.
  • #1,483
  • Jul 19, 2009 9:27am Jul 19, 2009 9:27am
Quoting lrathi
Already discovered post#861.

Swingman has already coded for it 2colours,4 colours and even MTF versions both 2xcolours and 4xcolours.

Swingman is just too fast and too comprehensive to our requests.
Indeed! I requested the 4-colour indicators yesterday late in the evening and he produced them in some 15 minutes...
  • #1,484
  • Jul 19, 2009 9:27am Jul 19, 2009 9:27am
know that the Trix not paint when the current candle closes and it gives the signal.

but, in a graphics Trix 5M, but the indicator is at 15M MTF, we can ensure the signal when the candle closes?
10M yet to close the candle 15M!

  • #1,485
  • Jul 19, 2009 9:40am Jul 19, 2009 9:40am
Indrek, I must admit that your strategy is great. What I would like to have
is the ALARM, when All 3 conditions MET, that way, we don't have to
watch few screens at ones.. Or maybe just set Alarm on the 1H / TRIX indy?
then quickly look if 15M and 30M signaling as well?
What are you think?
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  • #1,486
  • Jul 19, 2009 9:45am Jul 19, 2009 9:45am
Quoting SkyzerFX
Indrek, I must admit that your strategy is great. What I would like to have
is the ALARM, when All 3 conditions MET, that way, we don't have to
watch few screens at ones.. Or maybe just set Alarm on the 1H chart?
then quickly look if 15M and 30M signaling as well?
What are you think?
Why not. The simple way that I use is that I set TrixM15 to alert me about the cross and then it is not difficult to check if their is a match.
That is why I asked SwingMan for the 4-col version - you can see the situation at a glance.
But when working on M15 chart, we have enough time to estimate the situation because entry is only at the open of next candle. Then the signals have been confirmed.
Besides, you can see already in the morning what pairs may give the signal during the day. You just estimate the situation visually.
  • #1,487
  • Jul 19, 2009 9:46am Jul 19, 2009 9:46am
Quoting SkyzerFX
Never mind just find it. Indrek, thank you for the Template!
I made small changes in it, so I post a new version, too. In case sb is interested.

Included also MML Multi Option indicator just to see tomorrow if it will help. And MegaTrend for artistic reasons - I like it visually
Attached File(s)
File Type: tpl indrek template 3 trix new.tpl   23 KB | 732 downloads
  • #1,488
  • Jul 19, 2009 9:50am Jul 19, 2009 9:50am
Very similar indeed. The other aspect to this indy, though, is the color change of the bar/candle when PA makes a change in direction.
I think this would be very useful as well. Any thoughts on this?
Thanks much.
Cliff

Quoting TudorGirl
Hi Cliff

This indy looks much like the one Swingman made that changes color on the peaks. You can get it from the paperclip. I think it is the one that ends in "---PV" but I am not sure.

Anne
I get exercise just pushing my luck
  • #1,489
  • Jul 19, 2009 9:57am Jul 19, 2009 9:57am
Quoting paradoxical
The Trix can "repaint", if you want to call it that, on the SAME candle. If you sit and watch it on a 5 minute candle, you'll sometimes see the arrow appear for awhile, and then disappear as the price moves. Let's say on a downtrend 1.5100 makes the trix arrow appear on the current candle. If price goes back up to 1.5101 or higher, the arrow disappears. If you're looking at a history chart and see the trix arrow or color change on a 15 minute chart, you don't know when that occurred. Was it at the start of the candle? In the middle, or near the...


I agree!! You are totally right!!!!

When you watch historical charts you see the arrows of 5M and 15M corrisponding...but in real trade it's not so simple...
In the 5M you "know" that the arrow is stable after 5 minutes...but in the 15M you "know" that that arrow will not repaint only after 15 minutes (close of the candle)...and in some cases this could mean a late entry.

I've tried to make an EA that uses 5M TF with 15M confirmation....and this problem is evident!!!!
It give me some wrong trades because in the moment the EA take the trade there is a 15M arrow but...if i watch the chart in that point, the arrow isn't there, because at the moment of the trade the 15M candle wasn't closed...
Obviously this situation doesn't happens on every trade...but we must be prudent when we watch historical charts...

In my backtests i noticed with enough certainty that a 15M confirmations doesn't improve the original 5M scalping plan.
If you take only the trades in the direction of 15M you lose some important occasions of gain...and at the same time you however take losing trades.

The only plan with higher TF confirmation that seems to work is the plan that uses Idrek, but obviously in this case we can't speak of scalping (but swing trading)...as he said.

My simple 5M EA takes the trades based on the original plan, so with the primer and the trigger, without any higher TF confirmation, but for now i have too many false signals...i think that the real key to improve this original system...is to filter the more possible bad signals...without lose the good ones....

In my backtest i used 10TP and 20 SL.

In the first image the last friday results with TRX setted to 1,1,1
It takes some bad signals and wait the "close signal" (reverse trix cross) to close them or SL.
It doesn't takes the biggest trade of the day because in that moment...ithas the previous trade open and still not closed.

In the second image TRIX setting is 2,2,1
Some bad signals skipped and it takes the biggest rally of the day.

Watching this image all seems ok...but it's not...a backtest in the last days and weeks, with trades only in the selected hors...still gives me losing results....

I suppose that the EA created by Tudorgirl works different from mine...(works with renko chart???) i can't see the same trades with mine, so i can't see the same results....

Sorry for my english...I hope what i said is clar...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDtest1.jpg Size: 71 KB
Click to Enlarge Name: GBPUSDtest2.jpg Size: 65 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,490
  • Jul 19, 2009 10:03am Jul 19, 2009 10:03am
Quoting Indrek
I made small changes in it, so I post a new version, too. In case sb is interested.
Indrek please look at your Indies in the Template. You have 4!!!
Extra (not used copies of TRIX_MTF_PV_4col on the bottom

Could you also post "Heiken Ashi_SWAlert" just incase.. I don't have
that one, - thanks.
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  • #1,491
  • Jul 19, 2009 10:06am Jul 19, 2009 10:06am
One topic that is visible in many posts here is the fear to miss good trades... But isn't it so that even with the scalping system that Edge is teaching, you just aim for 30-40 pips per day. It would mean that ideally you have 3-4 perfect trades and done for the day. So, I think that it cannot be a problem if we filter out also some good trades while trying to filter out bad ones. Or am I mistaken in sth?
I see the scalping system working this way that you take 30-40 pips per day and the increase of your account comes from bigger lots. So, at some moment you trade sth like 5 lots per trade and if you take 30-40 pips then it is more than enough of profit.
Why should you take all possible trades then? I just do not understand...
  • #1,492
  • Jul 19, 2009 10:11am Jul 19, 2009 10:11am
Quoting SkyzerFX
Indrek please look at your Indies in the Template. You have 4!!!
Extra (not used copies of TRIX_MTF_PV_4col on the bottom

Could you also post "Heiken Ashi_SWAlert" just incase.. I don't have
that one, - thanks.
I have as many MTF Trixes on my chart as I need for these 4 timeframes that I want to see. So, I have 5 MTF Trixes not 4 but they are visible only on the timeframes where I want to see them.
Attached File(s)
File Type: mq4 Heiken Ashi_SWAlert.mq4   5 KB | 554 downloads
  • #1,493
  • Jul 19, 2009 10:14am Jul 19, 2009 10:14am
Quoting Indrek
So, I have 5 MTF Trixes not 4 but they are visible only on the timeframes where I want to see them.
Hmm, but you said you trading off 15M? Or you entering trades of 5M TF?

Thanks.
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  • #1,494
  • Jul 19, 2009 10:17am Jul 19, 2009 10:17am
Quoting Chris_B
I agree!! You are totally right!!!!

When you watch historical charts you see the arrows of 5M and 15M corrisponding...but in real trade it's not so simple...
In the 5M you "know" that the arrow is stable after 5 minutes...but in the 15M you "know" that that arrow will not repaint only after 15 minutes (close of the candle)...and in some cases this could mean a late entry.

I've tried to make an EA that uses 5M TF with 15M confirmation....and this problem is evident!!!!
It give me some wrong trades because in the moment the EA take the trade...
Hi Chris

Your English is excellent - a very clear explanation! My EA is basically identical to yours. The differences are as follows:

(1) I am using it on raw candles on the GU H1, not the M5.

(2) I am using it on a 5-pip GU Renko chart which has around 12 bricks per hour average, ie a similar number of candles to an M5 chart.

(3) I have SL = m x ATR(14) and TP = n x ATR(14) as measured automatically by the EA when opening a trade. I set m and n differently for different pairs. Note that on the Renko the ATR is by definition just the brick size!

But remember that the Renko is doing a lot of noise reduction behind the scenes! If you look at the trading results I posted for the EA Wed/Thu/Fri last week, you will see very few trades opened exactly on the top of the hour. These are the few trades taken on the H1 plain candles.

The vast majority of the trades are opened at irregular times based on the Renko chart. Around 17/20 of these trades seem profitable.

I think you are almost there and set to make some good pips very soon now! Anything I can do to help further, please ask!

Anne
  • #1,495
  • Jul 19, 2009 10:27am Jul 19, 2009 10:27am
Quoting SkyzerFX
Hmm, but you said you trading off 15M? Or you entering trades of 5M TF?

Thanks.
Yes, I intend to trade from 15M. But that does not mean that I am not interested in what is happening on other TFs.
If I see a possible trade at H1, for example, and I know the probable trend then why not to take it, too.
Besides, it is always useful to have a clear bigger picture about the trend. And Trix helps in this. When I know trend then it is always possible to take breakout trades or whatever.
No limits, all ways open - this is my slogan
  • #1,496
  • Jul 19, 2009 10:31am Jul 19, 2009 10:31am
Quoting TudorGirl
Hi Chris

Your English is excellent - a very clear explanation! My EA is basically identical to yours. The differences are as follows:

(1) I am using it on raw candles on the GU H1, not the M5.

(2) I am using it on a 5-pip GU Renko chart which has around 12 bricks per hour average, ie a similar number of candles to an M5 chart.

(3) I have SL = m x ATR(14) and TP = n x ATR(14) as measured automatically by the EA when opening a trade. I set m and n differently for different pairs. Note...

Thank you for your reply!!
I've made also an ATR version of the EA but on the 5M TF it doesn't change the situation.

On the 5M TF the biggest problem are the false signals....too many noise and as you say...with renko that noise is smaller...and this is a BIG advantage.
If the signal is good the 10TP/20SL plan works perfectly.

On the 1H TF my EA performs better...because of less noise, but still has some false signal.

The fact is that i was trying to create an EA that respects in all his aspects the original C4 scalping plan...(5M TF, a primer and a trigger), but is seems not working properly for now...
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,497
  • Jul 19, 2009 10:34am Jul 19, 2009 10:34am
Hi everyone,
This is my first post at FF, have been lurking for the past 8 months. Seeing as no one has responded to this post, I thought I could finally contribute something of value.

VerbTheory has posted a great jpg on his free web site at http://www.manualforextrader.com/forum/viewtopic.php?f=3&t=30 that I include below, that explains most of the stars. One thing this does not cover is Market Structure Highs/Lows, so for a good link, go to http://www.linnsoft.com/qa/a/45.htm for a good explanation.

While I have traded stocks, options and commodities for many years, I am new to Forex. Most of the basic principles remain the same for whatever instrument you trade, and for nearly all time frames that don't have excessive noise.

I like scalping and swing trading, as that fits my trading personality. That's why Edge's C4 strategy seems so appealing, as it can accomodate both styles of trading. Thanks Edge! My goal is to use the Price Action in the direction of the expected movement as the Primer, and the Trix PV as the detonator. I use the 12 LWMA of High and Low on my charts as well, as these become good areas for SL.

In a later post I will mark up a chart illustrating how I use PA, Trix PV, the two LWMA, and the EA to manage my trades.

While I am not a coder, I have updated the UpdateStops EA and renamed it UpdateStops to BE, as I have added remarks and added a breakeven profit amount to lock in a minimum amount of pips.

Best wishes

Quoting 45Fxguy
Seems everyone here on C4 scalping is in agreement for a change, but I still like having the PA stars on same chart too, it's like having two very good trading system on one chart so...
Attached Image (click to enlarge)
Click to Enlarge Name: r22tjo.jpg Size: 60 KB
Attached File(s)
File Type: mq4 Update Stops to BE.mq4   10 KB | 643 downloads
  • #1,498
  • Jul 19, 2009 10:38am Jul 19, 2009 10:38am
Hi Tudorgirl,

Do you only trade at the 1hr chart with this system, and do you still using the system which was made by Paulus in the thread EUR/Gbp on the 1hr ???
Dutchsignals
  • #1,499
  • Jul 19, 2009 10:39am Jul 19, 2009 10:39am
Quoting Chris_B
Thank you for your reply!!
I've made also an ATR version of the EA but on the 5M TF it doesn't change the situation.
On the 5M TF the biggest problem are the false signals....too many noise and as you say...with renko that noise is smaller....
Guys, what's that RENKO you are talking about? Some indy?
If it's not secret, could you please post it? Thanks.
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  • #1,500
  • Jul 19, 2009 10:42am Jul 19, 2009 10:42am
Quoting thecatpreach
Hi everyone,
This is my first post at FF, have been lurking for the past 8 months. Seeing as no one has responded to this post, I thought I could finally contribute something of value.
Thank you for that.
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