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Trend Follower 5 Minute System

  • #3,241
  • Oct 14, 2009 10:58am Oct 14, 2009 10:58am
Quoting utpala168
Hallo TheWicker, Pilatus and others,

1) I found mq4 that tell my current local time. Is it possible to 'bundle' it together in the template, so I don't need to add it everytime I open the new chart (drag & drop, tick at DLL .. etc) ? If yes, how ?

2) Is it possible to call all mq4 indicator, so if ALL the rules match, it will prompt alert (like EMA crossing alert). In PHP we can call the function of other files / class, and work with them to build a new target. Is it possible in MT4 mq4 ? Any tips ? Any suggestion where can I get information...
DO not know buddy sorry!
  • #3,242
  • Oct 15, 2009 6:36am Oct 15, 2009 6:36am
hi pilatus and thanks for trying help but ...!

i tried to delete the ema crossover and put it again and i got it in the same place ! is it there an adjustment to the time of the platform (sorry if my english language not perfect )
here is ibfx platform and it have the same situation!

http://img2.imageshack.us/img2/6626/ibfx.png

and anther thing what does (m) mean (EURUSDm,M5) in your platform?
  • #3,243
  • Oct 15, 2009 10:26am Oct 15, 2009 10:26am
Quoting minanaeim
hi pilatus and thanks for trying help but ...!

i tried to delete the ema crossover and put it again and i got it in the same place ! is it there an adjustment to the time of the platform (sorry if my english language not perfect )
here is ibfx platform and it have the same situation!

http://img2.imageshack.us/img2/6626/ibfx.png

and anther thing what does (m) mean (EURUSDm,M5) in your platform?
Hi!
"m" means that I am on mini account with mini lots where 1 lot is for eu 1$.
Aobut signals, do not have any idea why that happen. Maybe it is time to improve better trigers and change soemthing with more flexible indicators for entry and change MACD and Laguerre.
  • #3,244
  • Oct 16, 2009 11:00am Oct 16, 2009 11:00am
HI Pilatus

I have two questions regarding support and resistance:

1) How does the strategy calculate support and resistance points. From what I have seen support and resistance points are calculated at metatrader time 00:00. Therefore everyone will have different support and resistance depending on what time there MT4 time is. For example I run GMT + 3. Therefore my s/r is calculated at 9pm GMT. However Wicker designed this strategy for s/r to be calculated at the close of America.

2) There are two sets of s/r lines. One set are the bold ones and the other ones are the dotted lines. How are the dotted ones calculated.

Your help in these two questions will be much appreciated, no just by Pilatus but anyone else that may know the answers.

Many Thanks
  • #3,245
  • Oct 16, 2009 12:55pm Oct 16, 2009 12:55pm
Quoting mic7000
HI Pilatus

I have two questions regarding support and resistance:

1) How does the strategy calculate support and resistance points. From what I have seen support and resistance points are calculated at metatrader time 00:00. Therefore everyone will have different support and resistance depending on what time there MT4 time is. For example I run GMT + 3. Therefore my s/r is calculated at 9pm GMT. However Wicker designed this strategy for s/r to be calculated at the close of America.

2) There are two sets of s/r lines. One set are the bold ones...
Support and resistance which are pivots point in our system are mechanicaly calculated and difference between time zones makes little difference but just maybe 20 pips or something like that.
You camn find a lot of pivot indicator which are preaty much the same. Those are bold one. Dotted ones are those which are calculated like fibonacci pivots and how are they calculated honestly, do not know.
Suggestion!
Use them carefeuly and they are not walls. Price often slow down arround them and continue or rebound. Sometimes rebound is almost in a pip and soemtimes price reverse 10-20 pips above or bellow depends on previous direction. I do not pay much attention to them I rather look on 1h timeframe and seek for possible reversal or rebound and then compare it with pivots levels. If they are near to each one that can be good level. And of course I use volumes to determine s/r levels borrowed from futures market.
  • #3,246
  • Oct 17, 2009 7:13pm Oct 17, 2009 7:13pm
Quoting pilatus
Hi!
"m" means that I am on mini account with mini lots where 1 lot is for eu 1$.
Aobut signals, do not have any idea why that happen. Maybe it is time to improve better trigers and change soemthing with more flexible indicators for entry and change MACD and Laguerre.
hi pilatus thx 4 reply

just tell me which server do u use in your platform may be it cause to do something like that and please share your template too?
thanks
mina
  • #3,247
  • Oct 18, 2009 5:16am Oct 18, 2009 5:16am
Quoting minanaeim
hi pilatus thx 4 reply

just tell me which server do u use in your platform may be it cause to do something like that and please share your template too?
thanks
mina
I have real account so server will not work in demo. I use ibfx-mt4 mini 3. What template you mean?
  • #3,248
  • Oct 18, 2009 7:30am Oct 18, 2009 7:30am
Quoting pilatus
I have real account so server will not work in demo. I use ibfx-mt4 mini 3. What template you mean?
thx for answer and i mean your current template do u use right now to have signal like this .is it has it is own setting? or it is the normal one that puplished in the blog?
if that is the cause so the server is the problem and i cant do any thing about it
and i am telling you something that you may dislike but you have to warry about...
if many plateforms agree with that there is no signal that day so it might be not a valid signal and you have to find another platform to deal with (it is my own view and you don't have to do this)

and thx again
mina
  • #3,249
  • Oct 18, 2009 7:19pm Oct 18, 2009 7:19pm
Quoting 777lexs
Replaced MACD!!! So easy to watch. HMA Russian Histo instead Slope Direction Line
Good luck!!!
Attachment
777lexs, I like the way you simplified it. So sell when the MACD and the HVA are both red, buy when they are both green. What do we do in the case of the MACD having "no signal" (light blue) ? thanks
  • #3,250
  • Oct 20, 2009 12:58am Oct 20, 2009 12:58am
Hi Pilatus

If you would not mind, please could you share with us what you include in your daily analysis before taking a trade?

I know you have already mentioned volume lines, looking at daily bar movements and previous highs and lows.

Much appreciated.
  • #3,251
  • Oct 20, 2009 8:36am Oct 20, 2009 8:36am
Lately I was just checking the Forex factory , today only I registered to comment on this system which I think is one of the best system which I have used.

Point to be noted is system follows different sets in differnt currencies. Like it is pretty awesome in AUD JPY on H4 tf. (I think most of us have noticed it).

Along with other indicators and templates add stoch 14,3,3 and see the difference. Price movement working on both will be true one. Rest of noise is already filtered by Laguerre I think.
  • #3,252
  • Oct 20, 2009 12:37pm Oct 20, 2009 12:37pm
Quoting ashd
Lately I was just checking the Forex factory , today only I registered to comment on this system which I think is one of the best system which I have used.

Point to be noted is system follows different sets in differnt currencies. Like it is pretty awesome in AUD JPY on H4 tf. (I think most of us have noticed it).

Along with other indicators and templates add stoch 14,3,3 and see the difference. Price movement working on both will be true one. Rest of noise is already filtered by Laguerre I think.

Hi Ashd

Thanks for your comments.

What hours do you trade GMT?

Also, how many pips are you making on average a month?
  • #3,253
  • Oct 21, 2009 7:49am Oct 21, 2009 7:49am
Hi pilatus. I used your excellent posts in this thread. I want to thank you for your generosity. The book your recommended "trend trading" was very fruitful. I learned a lot from this book but after reading the book I was very confused about the Exit strategy of the "Trend Follower 5 Min System", I mean Slope Direction Line. I think the goal of a trend trader is to catch the most part of a trend not to bite a small part of it. Guppy suggests us use "Count Back Line" both for Stop Loss and Profit Taking. I think the slope line cannot follow a trend well. I think we find the trend well but don't follow it properly as the main exit rules of the system suggest. I tried some methods for exiting the trades but most of them signals exit too soon or too late. The best method I found is pivot points, 2 trailing stops, and the entering of blue lines into red lines as a final exit signal. these are the rules:
1. 1st exit is based on pivots (without mid pivots)
2. 2nd exit is based on a 30 pips trailing stop
3. 3rd exit is based on a 70 pips trailing stop
4. final exit (if the 3rd has not been triggered yet) when blue line goes to red ones

I know these rules are not perfect and I have tested them only for 40 trades (but in all the trades I was with the trade and in worst situations couldn't just take the 70 last pips of the trend). the stop loss is maximum 30 pips (usually under 20 pips) which is very low to the profits we can gain through trend following. below is an example.
pilatus please tell me whether I am wrong or not.
Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 70 KB
  • #3,254
  • Oct 22, 2009 9:11am Oct 22, 2009 9:11am
Hi,

I am a newbie. Went through the whole thread and not able to understand clearly what are the best settings to get best signals.

Can anybody please give the summary of the whole tests to know which are the exact rules to take the Entry/Exit/Stoploss/TakeProfit etc.

Also,
Does the EA never works.. or its of less use?

Please help me.

Thanks,
Prakash
  • #3,255
  • Oct 23, 2009 5:18am Oct 23, 2009 5:18am
Quoting ebitalebi
Hi pilatus. I used your excellent posts in this thread. I want to thank you for your generosity. The book your recommended "trend trading" was very fruitful. I learned a lot from this book but after reading the book I was very confused about the Exit strategy of the "Trend Follower 5 Min System", I mean Slope Direction Line. I think the goal of a trend trader is to catch the most part of a trend not to bite a small part of it. Guppy suggests us use "Count Back Line" both for Stop Loss and Profit Taking. I think the slope line cannot follow...
Buddy!
First of all thanks for your compliment to my posts. Just try to find good way of trading.
Next, about exit. I agree that the best methof is to exit on pivots. But if we want to catch bigger trend like in your example and not loose to much pips on waiting for break red lines maybe we could use simple rules. I tested slope direction line set up 0n 400 period instead of 80. On that way I made 1500 pips instead of 850 and entered less time in trade. Stop loss was about 40 pips.
Or you can exit on pivots partialy like Wicker said and let other to run as long as we have trend.
Try to test 400 set up on slope direction line instead of 80 and tell us your results.
Problem is that we do not have so much time big trend like on your example on 5 min tf. For bigger trend maybe we should look for higher time frame and take 15 min of 30 min tf. Just suggestion.
But in my expirience is best to take some pips immediately and let other portion of lots to run and move stop loss accordingly.
Let us know you results of testing 400 period set up for slope direction line or use some other number if you want.
  • #3,256
  • Oct 23, 2009 5:21am Oct 23, 2009 5:21am
Quoting mic7000
Hi Pilatus

If you would not mind, please could you share with us what you include in your daily analysis before taking a trade?

I know you have already mentioned volume lines, looking at daily bar movements and previous highs and lows.

Much appreciated.
MY analysis include lookin higher time frame trend and s/r levels, not just pivots. Then I look for possible entry after some pullback. That pullback must rebound from some significant level not any level.
  • #3,257
  • Oct 24, 2009 10:11pm Oct 24, 2009 10:11pm
Hi Pilatus

would mind post u the Latest trading system here,because i just found

the one which was posted in 2007,thank you so much.

BruceLee
  • #3,258
  • Oct 25, 2009 6:43am Oct 25, 2009 6:43am
Quoting pilatus
MY analysis include lookin higher time frame trend and s/r levels, not just pivots. Then I look for possible entry after some pullback. That pullback must rebound from some significant level not any level.

Hi Pilatus,

Would you please share with us your ananysis more clearly ?
Also agree with BruceLee, with attachment of last treading, it will be very nice

Thanks.
- utpala -
  • #3,259
  • Oct 27, 2009 5:57am Oct 27, 2009 5:57am
Quoting pilatus
Support and resistance which are pivots point in our system...
Hi Pilatus,

Could you please explain this :
And of course I use volumes to determine s/r levels borrowed from futures market.

How to do that ? is there an indicator for knowing the volume ? How to determine the S/R level through volume indicator ?

Thanks.
Best Regards,
- utpala -
  • #3,260
  • Oct 27, 2009 9:04am Oct 27, 2009 9:04am
Quoting utpala168
Hi Pilatus,

Could you please explain this :
And of course I use volumes to determine s/r levels borrowed from futures market.

How to do that ? is there an indicator for knowing the volume ? How to determine the S/R level through volume indicator ?

Thanks.
Best Regards,
- utpala -
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