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C4 Scalping

  • #2,001
  • Jul 22, 2009 9:30am Jul 22, 2009 9:30am
Quoting ianf0ster
Sorry zznbrm,
But that is rubbish. All true MTF indicators will only
finally set the last MTF divided by current Tf bars
when the underlying MTF bar closes.
Ian - Well, I guess you won't be using it then. I posted
this indicator because others were complaining about
the repainting of the MTF TRIX indicators. It addresses
this issue.

Backtesting is very important to my analysis of this sytem.
It does not do me much good to forward test a method
without first checking the historical performance of the
entries. It is a very long process to forward test different MM
configurations - backtesting is much easier (and faster) to
fine tune MM.

I only trade with the close of the M5 candle. It is difficult
to get accurate historical results when the MTF TRIX indicator
repaints. I need to know the exact value of the M15 TRIX
when M5 candle closes. This non-repainting version gives me
this information and allows me to get near 100% accuracy with
my backtests (spread, slippage, power outage, etc make 100%
accuracy impossible).

Feedback is always appreciated. Good luck with your trading.
  • #2,002
  • Jul 22, 2009 9:33am Jul 22, 2009 9:33am
Quoting vandalrpm
Hey Edge, What does using the 15m as confirmation mean? See the chart below.
Vandalrpm,
The trouble is you dont even know if it really crosses the zero line until after 3 complete bars.
  • #2,003
  • Jul 22, 2009 9:37am Jul 22, 2009 9:37am
Trying to step up to the plate here trading more pairs and more signals, maybe someone could point out mistakes i've made.

-23.5 pips total.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 22-July - PM1.jpg Size: 146 KB
Click to Enlarge Name: 22-July - PM2.jpg Size: 148 KB
  • #2,004
  • Jul 22, 2009 9:38am Jul 22, 2009 9:38am
Quoting vandalrpm
Hey Edge, What does using the 15m as confirmation mean? See the chart below.

Many traders prefer to only take 5m trades if the 15m is also showing strength in the same direction.

Example; 15m shows 'green' = long side.
5m triggers a long signal.
Consevative traders trade the 5m long based on 1 upper TF confirmation of intermediate overall trend.

Looks like this.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.jpg Size: 125 KB
  • #2,005
  • Jul 22, 2009 9:39am Jul 22, 2009 9:39am
Hi All,
Well, manged to muddle through my trades...no charts folks, way too ugly to print...
but the upside was still a save...they say a win is a win no matter how ugly...aagghh! my brain hurts from the effort.

Not the method employed here, just sometimes not in sink with it.

Still, though, was able to realize a 4.5% increase to my live account.

Back in the trenches again tomorrow.
Trade well.
Cliff
I get exercise just pushing my luck
  • #2,006
  • Jul 22, 2009 9:40am Jul 22, 2009 9:40am
Quoting zznbrm
Ian - Well, I guess you won't be using it then. I posted
this indicator because others were complaining about
the repainting of the MTF TRIX indicators. It addresses
this issue.

Backtesting is very important to my analysis of this sytem.
It does not do me much good to forward test a method
without first checking the historical performance of the
entries. It is a very long process to forward test different MM
configurations - backtesting is much easier (and faster) to
fine tune MM.

I only trade with the close of the M5 candle. It is difficult...
zznbrm,
I agree with you about backtesting. Though C4 seems a little too discetionary to backtest - at least it is for me until I define my entry,TP, premature TP and SL and premature exit rules.

I can see how such an indicator would help (those using the 15min Trix) to
backtest. I am not using the 15min as you can see from my charts.
Spent some time at the weekend trying to get the Sliding TF Trix working, but with no success. Tried to decompile your ind in order to see if it held any clues.

Ian
  • #2,007
  • Jul 22, 2009 9:45am Jul 22, 2009 9:45am
Quoting cce
Hi All,
Well, manged to muddle through my trades...no charts folks, way too ugly to print...
but the upside was still a save...they say a win is a win no matter how ugly...aagghh! my brain hurts from the effort.

Not the method employed here, just sometimes not in sink with it.

Still, though, was able to realize a 4.5% increase to my live account.

Back in the trenches again tomorrow.
Trade well.
Cliff
Hi,
A 4.5% increase sound very good to me. Even if the trades were 'ugly' . I think there is no such thing as an ugly winnig trade.......unless you took crazy risks and just got lucky.
  • #2,008
  • Jul 22, 2009 9:48am Jul 22, 2009 9:48am
Quoting Edgetrader
And another nice bushel from good PA.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: c4hitall.GIF Size: 129 KB


Thanks a lot Edge. Getting there little by little.

PS. I deleted my previous post and reposted since the picture was to wide. Sorry.
  • #2,009
  • Jul 22, 2009 9:49am Jul 22, 2009 9:49am
Hi Edge,

I am extremely intrigued about your scalping strategy.

However I have no idea what are SM Scalper Candles and not sure what is SM Super Trix ... can someone help me in understanding what are these? and how do I obtain them? As cannot find them on my current charting package.

I look forward to your response.

Many Thanks
  • #2,010
  • Jul 22, 2009 9:50am Jul 22, 2009 9:50am
First post, oh i hate feeling like a NOOB!!!
nevermind my results are all i really care about.

EDGE !!!!!!!! thankyou for sharing, there are as it seems not enough of your rare breed of Champion....

SwingMan , not gunna have any problems with your NASA project! Dang!!!!

well i have been involved with other trading vehicles for a few years, been up and down, B/E, and underwater ofcourse!!!!

great system Edge!!!! i've been at it for a few days now, never experienced a down day......

i got caught in a trade yesturday started on the 5M chart confirmation, rode it till the 15M and 30M finally 1H chart managed to pull out 111 pips....

however i did have some other confimations it may move that much, so this aided the entry supremely!!!!!!

as for the 5M 10 pip blasts i'm up, only by 20 pips of so, not such a good win ratio, but this is just the early days, i have great respect and faith already in this stategy.......

anyways still inthe best part of the trading hours at this moment, i'll keep you posted!!!!!

Champions!!!!!! thankyou!!!
if i used every commercial EA i would be a brazilianare by next week!!!!
  • #2,011
  • Jul 22, 2009 10:03am Jul 22, 2009 10:03am
Quoting ianf0ster
Tried to decompile your ind in order to see if it held any clues.
Why to decompile? PM me your email and I send you the source code.
  • #2,012
  • Jul 22, 2009 10:03am Jul 22, 2009 10:03am
Quoting DesertFX
Hi Edge,

I am extremely intrigued about your scalping strategy.

However I have no idea what are SM Scalper Candles and not sure what is SM Super Trix ... can someone help me in understanding what are these? and how do I obtain them? As cannot find them on my current charting package.

I look forward to your response.

Many Thanks
You can find the indicators on the very first post of the thread posted by Edge.

 This system works great but I was also wondering about the SM Scalper Candles, how they work and what advantages they have over regular candlesticks and heiken ashi. I have used HA bars and really like them so I’d like to know if it would be better to use the scalper candles.
  • #2,013
  • Jul 22, 2009 10:05am Jul 22, 2009 10:05am
Quoting DesertFX
Hi Edge,

I am extremely intrigued about your scalping strategy.

However I have no idea what are SM Scalper Candles and not sure what is SM Super Trix ... can someone help me in understanding what are these? and how do I obtain them? As cannot find them on my current charting package.

I look forward to your response.

Many Thanks
DesertFX,

http://www.forexfactory.com/showthread.php?t=181900

Read first.
  • #2,014
  • Edited 10:25am Jul 22, 2009 10:07am | Edited 10:25am
Quoting Edgetrader
And another nice bushel from good PA.

Regards.
Thanks for all the mentoring, Edge!

Looking at the charts in your post (#1997) I see you sometimes place a trade when primer, detonator and 15M MTF are aligned, then shortly after place another trade. Although all three are still pointing in the same direction, the trade doesn't appear to follow the same "prime, detonator, trigger" rules. This appears on all four charts.

What criteria do you use for the second trade?

Also, what is the thinking behind getting out of the market after reaching your daily target? If you make 2% on day 1 and 2% on day 2, why not 4% on day 1?

I'm using a MT4 demo with basic C4 set up as per post #1 to make decisions and pull the trigger on a live $300 Micro account from the same broker. Went live today: 38 pips from 17 trades, 14 wins and 3 losses. 5% account growth (see attached)!

I'll post charts when I figure out the MT4 annotation, but am delighted with results so far!
Attached File(s)
File Type: pdf nSteveTrades 20090722.pdf   46 KB | 668 downloads
  • #2,015
  • Jul 22, 2009 10:07am Jul 22, 2009 10:07am
Thanks for posting this. I think this will help a lot of people understand price action and give an easy way to interpret it correctly.

Maxss
  • #2,016
  • Jul 22, 2009 10:11am Jul 22, 2009 10:11am
Quoting DesertFX
Hi Edge,

I am extremely intrigued about your scalping strategy.

However I have no idea what are SM Scalper Candles and not sure what is SM Super Trix ... can someone help me in understanding what are these? and how do I obtain them? As cannot find them on my current charting package.

I look forward to your response.

Many Thanks
Hi,
I assume you are not using MT4 as your trading/charting package, if you are then all indicatprs are in this thread - click on the paperclip.

For the basics all you need are a Linear Weighted Moving Average on the weighted close of the bars with a period of 8. An the Trix indicator, which needs to be set to a period of 3, with a Signal period of 0 and all the internal moving average calculations set to Exponential.
It will look nicer if you can display the Trix as a histogramm.

The SM Scalper Candles are just Trix coloured candles - just like you can have MACD coloured candles in TradeStation.

The versions of SM Super Trix are just the Trix displayed as a histogramm with colour coded candles, signals and alerts. There is also a multi time fram version of this which some people use set at 15min for confirmation.

Hope that helps,

Ian
  • #2,017
  • Jul 22, 2009 10:13am Jul 22, 2009 10:13am
Quoting ianf0ster
zznbrm,
I agree with you about backtesting. Though C4 seems a little too discetionary to backtest - at least it is for me until I define my entry,TP, premature TP and SL and premature exit rules.

I can see how such an indicator would help (those using the 15min Trix) to
backtest. I am not using the 15min as you can see from my charts.
Spent some time at the weekend trying to get the Sliding TF Trix working, but with no success. Tried to decompile your ind in order to see if it held any clues.

Ian
Can always go with the 'live' trix for backtesting or TOTAL elimination of repainting issues.

Those histograms are all neat and pretty, but live sure has a place in trading too.

5m set trix to 2.0,false,1500. Top color red, all others none.
15m set trix to 3,0,false, 1500. Same color scheme.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: old style trix.jpg Size: 148 KB
  • #2,018
  • Jul 22, 2009 10:15am Jul 22, 2009 10:15am
Classic 5m trades with 15m confirmation.

Leave the previous shorts alone if conservative, which ALL new traders should be. Trade with upper TF confirmation until REAL comfortable with the method. Notice GU stayed long thus no 5m new opportunity.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.jpg Size: 207 KB
  • #2,019
  • Jul 22, 2009 10:20am Jul 22, 2009 10:20am
Quoting Chris_B


Made 2% (+1.800 €) on my demo account with +49 pips....

EURJPY is my "black beast"...i have to be cautious with it....

Done for the day!!

Thanks Edge!!
Hi Chris

Nice work!

Please will you post the indi which appears on your charts showing "ATR with Stop Loss in Pips"?

Thanks!
  • #2,020
  • Jul 22, 2009 10:30am Jul 22, 2009 10:30am
Quoting nsteve
Hi Chris

Nice work!

Please will you post the indi which appears on your charts showing "ATR with Stop Loss in Pips"?

Thanks!
Here it is...
Attached File(s)
File Type: ex4 THV3_ATR_Pips.ex4   3 KB | 585 downloads
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