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Trend Follower 5 Minute System

  • #3,181
  • Aug 29, 2009 8:45am Aug 29, 2009 8:45am
Quoting penguyen
Hi all,
I have been reading this thread and applied this technique in my scalping trading and have had good success. I would like to contribute an indicator which I’ve developed and used recently. I believe this indicator also helps in identifying key reversal points and aide in the entries and exits. I understand that the author of this techniques advise not to use too many indicators. How about just one more!

[font=Calibri][size=3]Thank...
I'll give it a try, next week for my forward testing. I hope it's not like zigzag pointer.
  • #3,182
  • Aug 30, 2009 8:24pm Aug 30, 2009 8:24pm
Quoting hir0406
i am geting this chart
wht r the rules
when to buy and sell
I'm showing an example of MTF Wave Convergence used on conjunction with the Trend Follower System and Stochastic RSI (5m and 15m) and Laguerre (0.6 and 0.8).

Please note the major reversals occurred at peaks #7 and where the StochRSI crossed as well as the Laguerre crossed.

Also this indicator dynamically changes the peak while the bars are drawing. So there's information I cannot capture with historical information. It can only be observed while the bars are being drawn, especially with the lower peaks #6 or #5.

The peaks are the major levels of R/S associated with that timeframe shown by the labels. If you change the chart you will see how these peaks match up with the R/S levels on that timeframe.

I may said previously, MTF Wave Convergence is not intended to be used alone but I think it is a good tool to be used with other indicators to confirm the turning points. The point here is that we can compare the relativity of these levels and determine whether a major impending trend is about to break out or reverse.

penguyen
Attached File(s)
File Type: pdf MTF Wave Convergence Example.pdf   68 KB | 2,064 downloads
  • #3,183
  • Aug 31, 2009 12:37am Aug 31, 2009 12:37am
its good enough if we use it ONLY in TF 5M, do you see another TFs?

thanks ...
  • #3,184
  • Aug 31, 2009 3:45pm Aug 31, 2009 3:45pm
Quoting penguyen
Hi all,
I have been reading this thread and applied this technique in my scalping trading and have had good success. I would like to contribute an indicator which I’ve developed and used recently. I believe this indicator also helps in identifying key reversal points and aide in the entries and exits. I understand that the author of this techniques advise not to use too many indicators. How about just one more!
[font=Calibri][size=3]I don’t have a lot of documentation on this...
Pen - thanks for your work on this indicator. I will try it out in conjunction with another system I am currently using. One of the biggest challenges we all have is to predict, with some regularity, the swings and breakouts. I will be curious to see if this will help.

I do have one comment after looking at it briefly. Is it possible to have the labels offset from the peaks on the high points of the charts? The labels seem to sit right on top of the peaks making them difficult to read. The low side of the charts are no problem though.
  • #3,185
  • Aug 31, 2009 9:06pm Aug 31, 2009 9:06pm
Quoting penguyen
Also this indicator dynamically changes the peak while the bars are drawing. So there's information I cannot capture with historical information. It can only be observed while the bars are being drawn, especially with the lower peaks #6 or #5.

penguyen
Attachment
Pen - Does this statement mean that previous peaks will actually move to different brs as time goes on and price changes? A peak on a bar, say 10 hours ago, might move to a different bar as the time frame goes on?
  • #3,186
  • Aug 31, 2009 10:28pm Aug 31, 2009 10:28pm
Quoting chims
Pen - Does this statement mean that previous peaks will actually move to different brs as time goes on and price changes? A peak on a bar, say 10 hours ago, might move to a different bar as the time frame goes on?
You can very easily check it out when real time watching.
  • #3,187
  • Sep 3, 2009 5:12pm Sep 3, 2009 5:12pm
Took the original system and 6 USD pairs and had someone make an EA for me and traded the London session only. up 74 pips minus commisions! so about 681.00 after commissions on demo. Still needs some tweaking (not exiting correctly) but not bad at all!
  • #3,188
  • Sep 3, 2009 6:09pm Sep 3, 2009 6:09pm
Hey, could you share it then, please?

Not asking for the source, just the EA ex4 to play with....
  • #3,189
  • Edited 12:35pm Sep 4, 2009 11:51am | Edited 12:35pm
I wish i could share the .ex4 but it cost me $$$. if it was free, I wouldn't even care!

P.S. don't trade fridays! my first rule I went against. after all those great trades this morning, the usd/jpy and gbp/usd took back all the money and left me at -2 pips LOL

EDIT: if i had the correct trading hrs, i would be up over 100 pips between the USD/CAD AND AUD/USD! oh well, that's what demo is for!

now to test at fxpro's bucketshop demo on XAU/USD
  • #3,190
  • Sep 5, 2009 7:21am Sep 5, 2009 7:21am
Man, you can share it....
The only limitation you are imposing us is the time we will have to invest to build the same.... The very same time ppl share here at forexfactory by posting their strategys and EAs (like RonaldRaygun for example)....

I understand you a little coz I think I would be lazy to share it if I had payd money... but man, showing it in the face of everyone who is sharing and willing to improve the system with their comments.... I wouldnt do that....
  • #3,191
  • Sep 5, 2009 12:38pm Sep 5, 2009 12:38pm
Quoting hazelj80
I wish i could share the .ex4 but it cost me $$$. if it was free, I wouldn't even care!

P.S. don't trade fridays! my first rule I went against. after all those great trades this morning, the usd/jpy and gbp/usd took back all the money and left me at -2 pips LOL

EDIT: if i had the correct trading hrs, i would be up over 100 pips between the USD/CAD AND AUD/USD! oh well, that's what demo is for!

now to test at fxpro's bucketshop demo on XAU/USD
Sorry buddy but do you suggest to not trade trend follower system on fridays???? Can you tell us why please, because that doesn't make sense. If you want to alert people to not trade during some important news on fridays that is ok but I do not see any other reason whay to not trade friday....please can you explain.
  • #3,192
  • Sep 5, 2009 3:49pm Sep 5, 2009 3:49pm
usually with most systems i don't trade Fridays but as you see i edited that post that if I would have extended my trade hrs for the correct GMT time i would have made over 100 pips that day. this system is OK to trade Fridays but most of the systems i have seen are not because they aren't so simple to tell which way the traders are speculating. and NFP days will get most systems killed on days like those.

now to figure out the parameters for trading XAU/USD
  • #3,193
  • Sep 5, 2009 3:57pm Sep 5, 2009 3:57pm
Quoting Armagedoom
Man, you can share it....
The only limitation you are imposing us is the time we will have to invest to build the same.... The very same time ppl share here at forexfactory by posting their strategys and EAs (like RonaldRaygun for example)....

I understand you a little coz I think I would be lazy to share it if I had payd money... but man, showing it in the face of everyone who is sharing and willing to improve the system with their comments.... I wouldnt do that....
the only reason i automated it was because I sometimes cannot stay up at those hrs. this system will make you money whether you had it automated or not so i don't really have an advantage over people who trade the system manually. they may even do better in some cases and sometimes i might do better than them. but it isn't hard to have automated number one and two i go by the rule of if i had something good that makes money that cost me money, why share? like i said, I'm sure that most programmers would agree and I know if RR or hayseed would have programmed for me for free, i would not care if they left it here on the forum for everyone to download. I'm just a follower of the original system I am thankful for that.
  • #3,194
  • Sep 6, 2009 5:46am Sep 6, 2009 5:46am
Quoting hazelj80
the only reason i automated it was because I sometimes cannot stay up at those hrs. this system will make you money whether you had it automated or not so i don't really have an advantage over people who trade the system manually. they may even do better in some cases and sometimes i might do better than them. but it isn't hard to have automated number one and two i go by the rule of if i had something good that makes money that cost me money, why share? like i said, I'm sure that most programmers would agree and I know if RR or hayseed would have...
Personally I do not believe in automated trading, but I would really like to see your results with that EA. If you have constant gain of profit show us your results. Next you can send me PM and give link for that EA to visit pages where I can purchase it. But first give us your results please - of course if you want to.
Thanks!
  • #3,195
  • Sep 7, 2009 12:01pm Sep 7, 2009 12:01pm
Hey guys! Im starting with the system, not being profitable for me yet....

Could anyone give me some pointers on why thoose trades were wrong? Are they good entrances or not?

All of them are failed Buy operations. Laguerre Indicator cant be seen on last one, but Its respected as in the other ones.

Thankyou!
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  • #3,196
  • Edited 3:55pm Sep 7, 2009 2:03pm | Edited 3:55pm
Quoting Armagedoom
Hey guys! Im starting with the system, not being profitable for me yet....

Could anyone give me some pointers on why thoose trades were wrong? Are they good entrances or not?

All of them are failed Buy operations. Laguerre Indicator cant be seen on last one, but Its respected as in the other ones.

Thankyou!
Read the whole thread, and you will know what is good and what is not. Must know that all signals are not good, just few of them. One suggestion, switch off that EA if you want to be profitable.
P.S. Do not trade not recommended pairs.
  • #3,197
  • Sep 7, 2009 5:03pm Sep 7, 2009 5:03pm
Im asking if thoose trades are good because I alreadly read the rules and most of the thread, otherway I would read before asking.

As for the EA you say, the lines plotted there are from backtesting via LFH simulator, not from an EA.

The rules I used on thoose trades, which by the way are all on EURUSD 5 min (recommended, right?), are:

*I wait a "Green arrow" (crossover signal)
*All color guppy lines agree, specially green are over red
*Macd>0
*Laguere coming above 0.15
*Stop loss 20 and takeprofit 30 pips each (I would like to get to better exits a bit later, after im profitable with thoose)


Its just Im trying the rules on the trade simulator, failng, then posting here to seek for some pointers, as I believe the forum is that for (among other things), because what some people fail in other people can learn from.
Please correct me if Im wrong, and give me some pointers plz

Happy trading!
  • #3,198
  • Sep 7, 2009 6:45pm Sep 7, 2009 6:45pm
I have found complliments for myself that work great with this system.. to be very simple I am using 2 trix indicators for trend confirmation and
also confirmation of the trend not being exhausted.

I also have the thv trix on my charts for divergence and confirmation
as well. When these three line up with the trend follower system
its pretty much been really good. Hope it helps someone.

Brian
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  • #3,199
  • Sep 7, 2009 8:10pm Sep 7, 2009 8:10pm
Thank you for the explanation of this system, could you elaborate on the settings used for the different couloured bands in the Multiple moving averages please. They are obviously more than those of the standard
Guppy settings.
  • #3,200
  • Sep 8, 2009 5:46am Sep 8, 2009 5:46am
Hi all,

Been a while since I've traded, just can't find the time.

Good to see Pilatus still here, how are you doing my friend?

Wanted to run this trade by you. It's Short on the USD/JPY the signal was at 07.00 GMT. The signal looked good in that there was steady price movement before the signal, a good contraction of Guppy and an agrement of downward trend on higher time frames.

The only reason I did not take it was Risk Reward ratio was not good 1:1 at best if we targeted exit at DS2. Having just broken DS1 this should have been a spot on time to trade but with the support lines being relatively close together, only 24 pips from one another, it doesn't justify a 20 Pip stop loss.

Pilatus, how would you trade this signal? Would you take it? What about the support lines? DO you not trade unless there is at least a 40 pips difference between them? Or do you just operate a tighter SL i.e. 10 Pips on this example? Would you agree that this is a good signal? It's around 60 pips in profit as we speak.

P.S. Why did you say on an earlier post not to trade the recommended pairs?

Cheers Mate look forward to speaking with you soon.
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