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Attachments: 0400-0700 GMT Breakout Strategy
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0400-0700 GMT Breakout Strategy

  • #1,821
  • Dec 2, 2009 4:06am Dec 2, 2009 4:06am
Quoting wawarulez
hey Indy, is there a thread for the strategy that has nothing to do with this one on FF?
Hi,

Unfortunately it uses pivots from another software system that I use and it would take me a while to get the settings right in Metatrader.

It is a reversal strategy based upon this FF thread which I have added to using fib levels on a 5min chart and back tested

http://www.forexfactory.com/showthread.php?t=80290
  • #1,822
  • Dec 2, 2009 4:10am Dec 2, 2009 4:10am
Quoting Masapv
Hello all,

Thank you for all your posts, I enjoy reading all of them and take away a nugget of knowledge from each.

I'm sure this has been covered, but what other pairs work with this?

Thank you in advance.
If you look through my other posts you will find settings for EUR JPY and USD CAD
  • #1,823
  • Dec 2, 2009 9:07am Dec 2, 2009 9:07am
Quoting Indyfx
Dear Bob,

It is not a slope that I use on the 1 min chart. I have a different charting system and I have tried to replicate the pivot feature in Metatrader. So if the price is trending at 07.15am GMT as it was this morning you would wait for a pivot low to form on the 1min chart and only take the entry on a break of that low.

If you look at the attached 1min chart I have added Zigzag lines in green to show the pivots using the following settings 15, 5, 3 (NB not the default settings). You will see no pivot was formed prior to 07.15am [u][b](which...
Thanks Indy for your zig-zag example. I have some experience in using zz's in other trading strategies. But, sorry...I am still not clear as to how you are implementing its use. zz's are great in showing historical swing highs and swing lows; I trust that's what you mean when discussing pivots. This is a repainting indicator that moves right along with price excursions. From your chart I am not certain where the zz would have been at the time of breakout. When you said, "You will see no pivot was formed prior to 7:15am", I am confused...

Could you please elaborate?

BC
  • #1,824
  • Dec 2, 2009 9:54am Dec 2, 2009 9:54am
Quoting Bobcat2
Thanks Indy for your zig-zag example. I have some experience in using zz's in other trading strategies. But, sorry...I am still not clear as to how you are implementing its use. zz's are great in showing historical swing highs and swing lows; I trust that's what you mean when discussing pivots. This is a repainting indicator that moves right along with price excursions. From your chart I am not certain where the zz would have been at the time of breakout. When you said, "You will see no pivot was formed prior to 7:15am", I am confused...

Could...
Dear Bob,

Sorry it was not clear. In a trend you get swing lows and swing highs. If you take this morning as an example. The slopes were set up for a short trade. Now normally at the time that the box ends (07.15 GMT) the price is nowhere near the top or bottom of the box so it is relatively straightforward. However on some occassions the lower level of the box is created a few minutes before the 07.15am deadline. In this situation as the price is trending (based upon the 1 min chart) at 07.15am I do not enter on the box low. In a downtrend like this morning I would wait for a new swing low to be produced on the 1min chart using the Zigzags and would enter if that was broken. As you can see the swing low after 07.15am (which was some way below the bottom of the box) did not get broken

I hope it is clear now
Attached Image (click to enlarge)
Click to Enlarge Name: z zz gbp usd 16.gif Size: 39 KB
  • #1,825
  • Dec 2, 2009 10:44am Dec 2, 2009 10:44am
hi dt

1. hows about your worst month since 08

2. a chart for today please

3. average per month as nov 09 was 11/11

many thanks in advance


Quoting DubaiTrader
I have backtested all of 2008 and 2009. Give me a random month and I'll post the results for you.
"The person who knows that enough is enough, will always have enough". .
  • #1,826
  • Dec 2, 2009 10:46am Dec 2, 2009 10:46am
Quoting maq
hi dt

1. hows about your worst month since 08

2. a chart for today please

3. average per month as nov 09 was 11/11

many thanks in advance
No problem, I've left my trading desk for today but I'll get the info for you tomorrow.
  • #1,827
  • Edited 11:55am Dec 2, 2009 11:43am | Edited 11:55am
Quoting Indyfx
Dear Bob,

Sorry it was not clear. In a trend you get swing lows and swing highs. If you take this morning as an example. The slopes were set up for a short trade. Now normally at the time that the box ends (07.15 GMT) the price is nowhere near the top or bottom of the box so it is relatively straightforward. However on some occassions the lower level of the box is created a few minutes before the 07.15am deadline. In this situation as the price is trending (based upon the 1 min chart) at 07.15am I do not enter on the box low. In...
Thanks, Indy. So...when the price is trending strongly at the extremity of the box at 07:15 GMT, and the trend direction is in agreement with the slopes, you wait for a swing point (low in this example). That would mean a retracement is taking place. Wait for the retracement to end, and price to move lower than the previous swing low before making an entry. I would think a pending order would work well at this point. All in all, you have applied the zz indicator to emulate a classic pullback strategy?
  • #1,828
  • Dec 2, 2009 12:18pm Dec 2, 2009 12:18pm
Quoting Bobcat2
Thanks, Indy. So...when the price is trending strongly at the extremity of the box at 07:15 GMT, and the trend direction is in agreement with the slopes, you wait for a swing point (low in this example). That would mean a retracement is taking place. Wait for the retracement to end, and price to move lower than the previous swing low before making an entry. I would think a pending order would work well at this point. All in all, you have applied the zz indicator to emulate a classic pullback strategy?
That's correct. To be honest this situation does not happen that often but I do appreciate that it did today. It has helped me to avoid losing trades whilst ensuring that I do not have to use a buffer on the trades that trigger in the normal manner. Hence a better ROI on the normal trades

Like I said before you may do better using Dubai's strategy which had a 100% success rate in November (based upon SL 30 and TL 30) and is a bit simplier than mine
  • #1,829
  • Dec 2, 2009 1:21pm Dec 2, 2009 1:21pm
Quoting Indyfx
If you look through my other posts you will find settings for EUR JPY and USD CAD

Thank you Indy, I will look over your past posts.
  • #1,830
  • Dec 2, 2009 4:06pm Dec 2, 2009 4:06pm
Quoting Indyfx
That's correct. To be honest this situation does not happen that often but I do appreciate that it did today. It has helped me to avoid losing trades whilst ensuring that I do not have to use a buffer on the trades that trigger in the normal manner. Hence a better ROI on the normal trades

Like I said before you may do better using Dubai's strategy which had a 100% success rate in November (based upon SL 30 and TL 30) and is a bit simplier than mine
Indy,

Great thinking to implement the zz on a 1 min chart in order to forego the need of a buffer...another good arrow in the quiver!

Thanks!
  • #1,831
  • Dec 2, 2009 5:27pm Dec 2, 2009 5:27pm
I am assuming that the slope indicator is bases, amoungst other things, on the close of the bar/candle.
So - does anyone know if it can be modified to work off the open instead of the close? And if so has anyone done anything with it to see if it makes a worthwhile difference?
  • #1,832
  • Dec 3, 2009 2:18am Dec 3, 2009 2:18am
Quoting Artifiz
My Ema (purple line) setting is an 85 EMA applied to Close. Same use by many traders in this thread. I also use a 200SMA (dotted line) for resistance/support and sometimes Trend Direction.

The EA I use is the same posted in this thread. I posted it again for your convenience. I use FXDD as a broker which uses a GMT+2 hrs time. You might want to adjust your EA time settings if you use a different broker. I also adjust the EA for TP1=20, TP2=30, and TP3=50 Since I used a 4 digit broker. You can adjust it as it best suits you. I trade a 4-6 GMT box...
Would you please be able to post your set files? I'd like to test the EA on FXDD charts. However, I was wondering if we needed to change anything to use the EA on FXDD charts, now that they follow the NFA regulations.
  • #1,833
  • Dec 3, 2009 2:23am Dec 3, 2009 2:23am
Hey dubai...

Nice work you done all over the thread.

Today my first negative trade with your Setup:

Long Order @ 1.6708 both Slopes are Long in 1 h Chart...
TP: 30, SL: 30
SL taken....

BAD Start in this ugly Day ;-)

Greetz

vatoslocos
  • #1,834
  • Dec 3, 2009 3:17am Dec 3, 2009 3:17am
Me too but had 40 SL, thursday usually a good trending day, guess we going down today
  • #1,835
  • Dec 3, 2009 3:20am Dec 3, 2009 3:20am
Quoting vatoslocos
Hey dubai...

Nice work you done all over the thread.

Today my first negative trade with your Setup:

Long Order @ 1.6708 both Slopes are Long in 1 h Chart...
TP: 30, SL: 30
SL taken....

BAD Start in this ugly Day ;-)

Greetz

vatoslocos
Yep, first loss since October, I guess when we look at it like that, it's just the law of averages taking over!

Always another day to come..
  • #1,836
  • Dec 3, 2009 4:04am Dec 3, 2009 4:04am
Quoting Bobcat2
Indy,

Great thinking to implement the zz on a 1 min chart in order to forego the need of a buffer...another good arrow in the quiver!

Thanks!
Hi Bob,

I have had another look at the zigzag lines and I cannot recommend that you use them. They are not matching up exactly with the lines from my other software that I use and I have tried to replicate them by adjusting the setting but with no luck. One of the problems is that I am using a 2 min chart and as you know you do not get a 2min chart in Metatrader
  • #1,837
  • Dec 3, 2009 4:09am Dec 3, 2009 4:09am
Quoting DubaiTrader
Yep, first loss since October, I guess when we look at it like that, it's just the law of averages taking over!

Always another day to come..
yes thats true.... Life goes on

ANother question:

Do you have the backtest that you post here:
http://www.forexfactory.com/showpost...postcount=1764

for more month? i think i´ve read that you test your strategie backt to 2008, do you?

Greetz form Germany

vatoslocos
  • #1,838
  • Dec 3, 2009 7:59am Dec 3, 2009 7:59am
Quoting vatoslocos
yes thats true.... Life goes on

ANother question:

Do you have the backtest that you post here:
http://www.forexfactory.com/showpost...postcount=1764

for more month? i think i´ve read that you test your strategie backt to 2008, do you?

Greetz form Germany

vatoslocos
Yep I have back to 2008, I've been mad busy today so it won't be up until the weekend but sit tight.
  • #1,839
  • Dec 3, 2009 8:37am Dec 3, 2009 8:37am
Quoting DubaiTrader
Yep I have back to 2008, I've been mad busy today so it won't be up until the weekend but sit tight.
Ok no problem....

If you got the time to post some more backtest for me and the rest of your crew it would be awesome
  • #1,840
  • Dec 3, 2009 9:01am Dec 3, 2009 9:01am
I made my 30 pips easy today on my 15 min chart.. I will post a snapshot when I get home from wok in the afternoon. I am now watching gbp/jpy on a 15 min chart for the 7-9 big dog strategy. will post results later..
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