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Very Profitable System - Roi system

  • #101
  • Edited 10:19pm Jan 6, 2010 10:17pm | Edited 10:19pm
Quoting scartree
I have been investigating a commercial script called Magic Lines which lets you put a line on the chart where you want to place a pending order or change the level by moving the line on the chart. The SL and TP can be similarly managed.
I've read that this function will be one of the new features of MT5 ... you might want to save your money for a little while.
  • #102
  • Jan 7, 2010 12:14am Jan 7, 2010 12:14am
Quoting bags1
i tend to just hit another time frame every so often then hit back to the 15 min and it refreshes easy enough
having a good deal of sucsess with this system
Hey bags1, Thanks for your reply earlier. Thought I'd return the favour.

Looking at these 2 s/r indicators (_MTF SR.mq4, and sr_KG_Support_and_Resistance.mq4), they produce almost identical results when given same settings. However, if there are differences in the results, _MTF SR.mq4 is much more likely to produce extra S/R.

However, these extra S/R levels are more likely to produce losses. 3 losses for every 1 profit on these extra levels. (One screens worth of differences is being shown). Another way of looking at it, is that when there are differences this more likely to be a ranging instead of trending area.

The other differences are:

  1. the length of time these levels are held for, but that didn't affect possible trades in my short look. (see blue vertical lines in pic for what I mean)
  2. With sr_KG_Support_and_Resistance you have to modify the code if you want different timeframes.
  3. This is the sr_KG_Support_and_Resistance with the settings I use are M30, H1, H4 and D1 in the indicator that I'm posting on an M5 chart.

Attached Image (click to enlarge)
Click to Enlarge Name: Differences.jpg Size: 194 KB
Attached File(s)
File Type: mq4 sr_KG_Support_and_Resistance.mq4   5 KB | 1,163 downloads
  • #103
  • Jan 7, 2010 1:41am Jan 7, 2010 1:41am
tbardolph

I have read that too but when is the new version scheduled. It seems that it is always being postponed. Anyone got some inside information?
  • #104
  • Jan 7, 2010 3:21am Jan 7, 2010 3:21am
Quoting aquaart
... if there are differences in the results, _MTF SR.mq4 is much more likely to produce extra S/R. However, these extra S/R levels are more likely to produce losses. 3 losses for every 1 profit on these extra levels.
here's how my screen looks with MTF SR, set to 60, as per ROIF's original rules (post #54) ... I wouldn't of had the losses you mention ... (I tried to place the numbers in the same place you have them) ... several people have said they use 30 as their setting because it gets them in more trades ... I think 60 may be better ... fewer trades, but they're more likely to win
Attached Image (click to enlarge)
Click to Enlarge Name: mtf sr.jpg Size: 71 KB
  • #105
  • Jan 7, 2010 4:18am Jan 7, 2010 4:18am
Quoting tbardolph
here's how my screen looks with MTF SR, set to 60, as per ROIF's original rules (post #54) ... I wouldn't of had the losses you mention ... (I tried to place the numbers in the same place you have them)
Yes you're right.

Not having read post #54, I assumed his system was on M5 charts, and that the indis that I downloaded, only one of them had a time setting in it, and that was M30.
So I made a couple of assumptions, one of them was using 30 minute s/r.

Thanks for the correction.


Quoting tbardolph
... several people have said they use 30 as their setting because it gets them in more trades ... I think 60 may be better
The second indicator that I posted above, automatically updates (which some people had an issue with) but has made the M30 s/r more accurate, while not losing the H1 s/r.

Quoting tbardolph
... fewer trades, but they're more likely to win
Agreed
  • #106
  • Jan 7, 2010 5:01am Jan 7, 2010 5:01am
Quoting aquaart
The second indicator that I posted above, automatically updates (which some people had an issue with) but has made the M30 s/r more accurate, while not losing the H1 s/r.
I just had a thought ... having both levels on the chart may be useful ... the M30 s/r could be used as an alert to a potential trade, and then the H1 s/r as confirmation to actually enter ... I'll study it
  • #107
  • Jan 7, 2010 5:27am Jan 7, 2010 5:27am
What should i use #MTF SR or _MTF_SR

I tried both sr_KG_Support_and _Resistance and Support and Resistance. But compare to sr_KG Support and Resistance is seems good. sr_KG giving more mixing of yellow and green dots at bottom side more confusing. Any one give details.

Guru.
  • #108
  • Jan 7, 2010 6:12am Jan 7, 2010 6:12am
Hi tbardolph, i have now change the MTF SR (Period 1, period 2, period 3, period 4 to 60). Here is my chart.
Care to share your entry and exit?


Quoting tbardolph
here's how my screen looks with MTF SR, set to 60, as per ROIF's original rules (post #54) ... I wouldn't of had the losses you mention ... (I tried to place the numbers in the same place you have them) ... several people have said they use 30 as their setting because it gets them in more trades ... I think 60 may be better ... fewer trades, but they're more likely to win
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 171 KB
  • #109
  • Jan 7, 2010 6:45am Jan 7, 2010 6:45am
There seems to be a number of opinions regarding the settings being used. I seem to be at odds with others in my settings - which are working well for me.

The attached pic shows the same chart with 2 sets of indis and settings.
The LHS chart has #MTF_SR with 0,0,15,0 settings. T3 is set to 15 TF.
The RHS chart has Support & Resistance.mq4 with standard settings for a M15 chart. T3 is set to 30 TF.

The 2 SR indis have the same result and I have not had a problem with refreshing with either indi.

I like the 15 TF for the T3 - I have not tested one against the other but the 15 works for me.

Please disregard the Trix and the Stoch for this system. I do not use them for this system.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 7jan10.gif Size: 94 KB
  • #110
  • Jan 7, 2010 7:07am Jan 7, 2010 7:07am
Hi, i set the MTF_SR to 0,0,15,0 settings... and here is my attach

Can u help to check on the entry? hw abt the swingman indi? can send us? thanks

Quoting scartree
There seems to be a number of opinions regarding the settings being used. I seem to be at odds with others in my settings - which are working well for me.

The attached pic shows the same chart with 2 sets of indis and settings.
The LHS chart has #MTF_SR with 0,0,15,0 settings. T3 is set to 15 TF.
The RHS chart has Support & Resistance.mq4 with standard settings for a M15 chart. T3 is set to 30 TF.

The 2 SR indis have the same result and I have not had a problem with refreshing with either indi.

I like the 15 TF for the T3 - I have not tested...
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 182 KB
  • #111
  • Jan 7, 2010 7:18am Jan 7, 2010 7:18am
KPF

There was a nice trade 10 bars earlier than your vertical line - I cannot see a trade at that point on your chart.

I attach the sm indi with apologies to ROIF. It really is not necessary for this system but if you want to play around with it, go for it. It and other sm indis are available on this forum. I use 5,1,1,1 settings but try changing the 5 to 4 or 3 - interesting....

Have fun

Karl
Attached File(s)
File Type: ex4 smSuper TRIX_PV_4col.ex4   12 KB | 1,035 downloads
  • #112
  • Jan 7, 2010 7:22am Jan 7, 2010 7:22am
Sorry folks - seem to be hogging the stage at the moment. I'm going to bed soon....

I have at last seen the refreshing - or lack of it - with the ROIF #MTF_SR indi. I am going to stick to the Support & Resistance indi as it refreshes without problem and places the dots in the same place.
  • #113
  • Jan 7, 2010 7:30am Jan 7, 2010 7:30am
thks thks....

i change it to the attached chart...but not sure abt the entry and exit... thks...

Quoting scartree
KPF

There was a nice trade 10 bars earlier than your vertical line - I cannot see a trade at that point on your chart.

I attach the sm indi with apologies to ROIF. It really is not necessary for this system but if you want to play around with it, go for it. It and other sm indis are available on this forum. I use 5,1,1,1 settings but try changing the 5 to 4 or 3 - interesting....

Have fun

Karl
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 170 KB
  • #114
  • Jan 7, 2010 4:09pm Jan 7, 2010 4:09pm
Quoting KPForex
Care to share your entry and exit?
looks like all these would be winners
Attached Image (click to enlarge)
Click to Enlarge Name: jan7.jpg Size: 87 KB
  • #115
  • Jan 8, 2010 12:46am Jan 8, 2010 12:46am
Hi Tbardolph

It would be nice if you could get all of those winning trades. I would love to see your MM to do that. What are your entry and exit strategies? More interested in your exit strategies that would allow you to take 11 pips or 94 pips!!??
  • #116
  • Jan 8, 2010 3:33pm Jan 8, 2010 3:33pm
Quoting scartree
More interested in your exit strategies that would allow you to take 11 pips or 94 pips!!??
I didn't mean to imply that's what I made on those trades ... my point was they were all positive and I was just showing by how much positive they were ... as far as exit strategy, I like fib levels ... I don't know if they really work, if it's just psychological for me, or if I'm even using them correctly ... I'm just amazed at how uncannily accurate they are in other things ... so on that 94 pip trade, for example, my targets were 1.4373 (138.2 fib) and 1.4361 (161.8 fib), 2 winners for 20 pips and 32 pips, 1.5% on each... turns out even the 261.8 fib was good, but I thought that was too optimistic and didn't go for it
Attached Image (click to enlarge)
Click to Enlarge Name: fibs.gif Size: 26 KB
  • #117
  • Jan 9, 2010 7:50am Jan 9, 2010 7:50am
Quoting tbardolph
as far as exit strategy, I like fib levels ... I don't know if they really work, if it's just psychological for me, or if I'm even using them correctly ...
fibs work well with correct s/r levels being used (which the sr_KG_Support_and_Resistance indi gives)
  • #118
  • Jan 11, 2010 7:53am Jan 11, 2010 7:53am
Hello,

I'm in a usdjpy long trade since 6 hours. As you can see in the attached chart was my entrance at the red vertical line. Entry at 92.44 an SL at 92,16 ( I had luck because it drops dwon till 92,18)
this was a big SL for me but I suspected that the market is a little bit ropy at monday morning and this was a correct assumption afterwards.

Is there anyone else in a trade after ROIF rules at the moment?

It would be good to see if other traders see a good entry sign.

fx358
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy11.01.gif Size: 40 KB
  • #119
  • Jan 11, 2010 9:05am Jan 11, 2010 9:05am
Hi again,
after I tighten the SL to Break Even I was stoped out with the last retracement.

The next possible candidate could be gbpusd short

Yours
fx358
  • #120
  • Jan 11, 2010 9:31am Jan 11, 2010 9:31am
fx358,
I'm trying to figure out how to get the rules set up on Oanda, if I can I'll let you know what I find. Neat looking system.
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