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4H Box Breakout

  • #1,601
  • Aug 7, 2009 8:53am Aug 7, 2009 8:53am
jones,
any break out strategy is based on the statistics and not on the economics analysis. if you want fundamentals then you have to use S/R, fibo, ECB dates and so on. but all these info is not for break out strategies.
for break out you will need a very good back testing and that is it. of course there are many periods of whipsaw but for these times you have just to modify the MM - especially tp tactics. and that is it.
  • #1,602
  • Aug 7, 2009 9:49am Aug 7, 2009 9:49am
Quoting fxann
Dear All,

I have found the method to download the indicator onto the IBfx,MT4 but the indicators did not showed the figures as Ace's. I do not know how to modify it as I am not a programmer, don't understand a single thing in the attachment.

Can someone help me to modify the total buffer (buffer +spread) t0 30 for both side and I need the TP4?

Or, is anyone having the indicators which shows the same figure as Ace's? can send me the attachement?

Thank you.
Hi attached is a mod to the 1 Box 4 to give you long and short entries 30 pips above and below the box. Just add this indicator to your charts with the 1 Box 4 indicator.
Attached File(s)
File Type: mq4 1 Box 4 Ext.mq4   7 KB | 674 downloads
  • #1,603
  • Aug 7, 2009 10:00am Aug 7, 2009 10:00am
Hi Ace,
I have a question regarding forex crosses.
When we trade EUR/JPY for example, do you think we have to look closely at each chart (EUR/USD and USD/JPY) in order to ride the trend or spot a reversal? When EUR/USD reaches certain support/resistance, this will have effect on the EUR/JPY movement too, am I right?
  • #1,604
  • Aug 7, 2009 10:42am Aug 7, 2009 10:42am
Quoting fx2248
Hi attached is a mod to the 1 Box 4 to give you long and short entries 30 pips above and below the box. Just add this indicator to your charts with the 1 Box 4 indicator.
OMG, what should I do to express my gratitude???? You are POWER!

Million thanks fx2248
  • #1,605
  • Aug 7, 2009 11:47am Aug 7, 2009 11:47am
funny thing is if I had not moved my stop to BE I would have hit my target at tp3. Thats the problem with messing with the system.
  • #1,606
  • Aug 7, 2009 11:54am Aug 7, 2009 11:54am
Quoting 11andy11
closed out when it broke through 160. Picked up around 70 pips. Assuming everyone is stopped out that moved to BE.
Quoting 11andy11
funny thing is if I had not moved my stop to BE I would have hit my target at tp3. Thats the problem with messing with the system.
Indeed. We're all facing the same dilemna . . . change the system and you change the results, sometimes for the better, other times to our detriment.

I wasn't clear from your 2 posts whether you gained 70 pips or were stopped out at BE, or did you have 2 positions with different SL?
Greetings from Guanajuato, Mexico
  • #1,607
  • Aug 7, 2009 5:19pm Aug 7, 2009 5:19pm
My strategy is to place a 2 lot order at entry and take 1 lot off at 1X Box and the remaining lot off at 4X Box (or at the end of the week if not hit) for the GBPJPY pair. SL to (BE + spread) after 1X Box is hit. Use 20 pip buffer. Other pairs use 3X Box as the second target.

Results for GBPJPY (1 trade):

1st Lot: +123 pips
2nd Lot: + 7 pips

Other results:

EURJPY (2 trades):

1st Lot: -89 pips
2nd Lot: -89 pips

1st Lot: +94 pips
2nd Lot: +283 pips


AUDJPY (1 trade):

1st Lot: +88 pips
2nd Lot: + 6 pips


CHFJPY (2 trades):

1st Lot: -71 pips
2nd Lot: -71 pips

1st Lot: +75 pips
2nd Lot: + 5 pips
  • #1,608
  • Aug 7, 2009 8:19pm Aug 7, 2009 8:19pm
will need to check entry this week to make sure i got it right also ace who do you trade with which broker


Quoting Ace284
TP 4 has been hit 4 times during the past 12 trades (3 months).

The weeks are:

May 18-22
June 1-5
June 15-20
July 6-11
"The person who knows that enough is enough, will always have enough". .
  • #1,609
  • Edited 11:28pm Aug 7, 2009 11:00pm | Edited 11:28pm
In post #1263 there is an indicator there that I am using and I want to thank the person who shared it with us. It is called the 1 Box 4.

The indicator is set up with only 3 TP levels in each direction and I was wondering if someone could program it to have 6 TP levels in each direction with a 20 pip buffer on both sides of the box. I noticed a modification to use a 30 pip buffer but I would like to have a 20 pip buffer instead.

I looked at the programing of the indicator but I just don't know enough to do it myself. This would be greatly appreciated.

Thank you,

Dan Hansen
  • #1,610
  • Aug 8, 2009 2:11am Aug 8, 2009 2:11am
Quoting dans4x
In post #1263 there is an indicator there that I am using and I want to thank the person who shared it with us....
Hi Go to post 1602 and use the indicator posted there along with the existing box indicator. I made a new indicator which show entry +/- 30 pips from the box and TP 4,5,and 6. I don't know enough about MT4 to include them all on on indicator .
Attached Image (click to enlarge)
Click to Enlarge Name: box indicator ext.gif Size: 24 KB
  • #1,611
  • Aug 8, 2009 2:21am Aug 8, 2009 2:21am
Could you please share your indicator?

Thank you.

GE.

Quoting fx2248
Hi Go to post 1602 and use the indicator posted there along with the existing box indicator. I made a new indicator which show entry +/- 30 pips from the box and TP 4,5,and 6. I don't know enough about MT4 to include them all on on indicator .
Some pursue happiness, others create it.
  • #1,612
  • Aug 8, 2009 3:59am Aug 8, 2009 3:59am
Attached are the Box Indicators.

1 Box 4.mq4 gives the box and TP1,2and 3
1 Box 4 20.mq4 give entries +/- 20 pips from the box and TP4,5 and 6
1 Box 4 30.mq4 give entries +/- 30 pips from the box and TP4,5 and 6.

You need to attach to your charts 1 Box 4.mq4 and either 1 Box 4 20.mq4 or 1 Box 4 30.mq4.

I don't have the programming skill to combine them and make the entry distance from the box selectable, so maybe someone who can could modify the indicators.
Attached File(s)
File Type: mq4 1 Box 4.mq4   7 KB | 765 downloads
File Type: mq4 1 Box 4 20.mq4   7 KB | 800 downloads
File Type: mq4 1 Box 4 30.mq4   7 KB | 748 downloads
  • #1,613
  • Aug 8, 2009 5:41am Aug 8, 2009 5:41am
fx2248
Very nice. Thank You
  • #1,614
  • Aug 8, 2009 7:06am Aug 8, 2009 7:06am
Thank you.

GE.

Quoting fx2248
Attached are the Box Indicators.

1 Box 4.mq4 gives the box and TP1,2and 3
1 Box 4 20.mq4 give entries +/- 20 pips from the box and TP4,5 and 6
1 Box 4 30.mq4 give entries +/- 30 pips from the box and TP4,5 and 6.

You need to attach to your charts 1 Box 4.mq4 and either 1 Box 4 20.mq4 or 1 Box 4 30.mq4.

I don't have the programming skill to combine them and make the entry distance from the box selectable, so maybe someone who can could modify the indicators.
Some pursue happiness, others create it.
  • #1,615
  • Edited 8:31am Aug 8, 2009 8:21am | Edited 8:31am
Quoting fx2248
Attached are the Box Indicators.

1 Box 4.mq4 gives the box and TP1,2and 3
1 Box 4 20.mq4 give entries +/- 20 pips from the box and TP4,5 and 6
1 Box 4 30.mq4 give entries +/- 30 pips from the box and TP4,5 and 6.

You need to attach to your charts 1 Box 4.mq4 and either 1 Box 4 20.mq4 or 1 Box 4 30.mq4.

I don't have the programming skill to combine them and make the entry distance from the box selectable, so maybe someone who can could modify the indicators.
Hi fx2248, I need to ask you further questions as I really have zero knowledge about programming. Hope you can help.Thanks

(1) After I have downloaded the indicator, do i need to do any adjustment weekly?
(2) If I have 20buffer+8spread for GBPJPY, 10buffer+5spread for AUDJPY and 15buffer+4spread for EURJPY, how do I amend the indicator accordingly?
Is there anyway you can teach a little on the modification method??

BTW,I have learned how to download the indicator on MT4 from the live chat, the client service told me to do the following.Hope it helps those who keen to download indicators on MT4:-

Copy the indicator file to the Crogram filesInterbank FX Trader 4expertsIndicators folder. Then, in the platform, the indicator will be in the Custom Indicators list in the Navigator window. Then go to "insert tab> select indicators> select custom, find the indicator and click on it, the indicator will appear on the chart straight away.
  • #1,616
  • Aug 8, 2009 8:43am Aug 8, 2009 8:43am
HI Ace,

Refer to this week chart of GJ,AJ and EJ, three of them spike at the same time on 07.08.2009 GMT 1200,I thought AJ should be more active in Asian time???

I can understand the spike on GJ and EJ, they should be volatile in europe time.

If I want to trade AJ, what are the things should I look out?Pls advise. Thanks
  • #1,617
  • Aug 8, 2009 9:17am Aug 8, 2009 9:17am
Quoting fxann
Hi fx2248, I need to ask you further questions as I really have zero knowledge about programming. Hope you can help.Thanks

(1) After I have downloaded the indicator, do i need to do any adjustment weekly?
(2) If I have 20buffer+8spread for GBPJPY, 10buffer+5spread for AUDJPY and 15buffer+4spread for EURJPY, how do I amend the indicator accordingly?
Is there anyway you can teach a little on the modification method??

BTW,I have learned how to download the indicator on MT4 from the live chat, the client service told me to do the following.Hope...
Hi

I have attached a set of instructions to show how one can change the position of the entries above and below the box.

In your case fxann you don't have to do any weekly adjustments and edit and create a separate indicator for each currency pair.

Remember you need the new indicator and the 1 Box 4.mq4 on each chart.

This is a very basic way to achieve what you want to do until some smart programmer programs everything into one Custom Indicator.
Attached File(s)
File Type: pdf MT4 Editing Instructions.pdf   204 KB | 9,742 downloads
  • #1,618
  • Aug 8, 2009 9:29am Aug 8, 2009 9:29am
Quoting fx2248
Hi

I have attached a set of instructions to show how one can change the position of the entries above and below the box.
good people, good thread, what else can i say....thanks FX2248
  • #1,619
  • Aug 8, 2009 9:40am Aug 8, 2009 9:40am
Hello fx2248,
thanx mate......you are working some great jobs here .........

regards mate....
  • #1,620
  • Aug 8, 2009 2:00pm Aug 8, 2009 2:00pm
Quoting fxann
HI Ace,

Refer to this week chart of GJ,AJ and EJ, three of them spike at the same time on 07.08.2009 GMT 1200,I thought AJ should be more active in Asian time???

I can understand the spike on GJ and EJ, they should be volatile in europe time.

If I want to trade AJ, what are the things should I look out?Pls advise. Thanks
I wasn't too surprised by that because NFP came out on Friday. Generally when NFP comes out there is lots of speculation and a strong move in one direction. It's supposed to affect mainly the USD pairs but that causes a domino effect on many other pairs.

I've actually always been curious when exactly a pair moves the most. Also the average range for each specific time during the day or week or month. I know for metatrader you can extract all that information and convert it into a spreadsheet but it probably takes a bit of work.
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