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Attachments: Trend Follower m1 Scalping WITH m5 Revised Rainbow Setup
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Trend Follower m1 Scalping WITH m5 Revised Rainbow Setup

  • #21
  • Jan 20, 2010 9:31am Jan 20, 2010 9:31am
Just going to again Emphasize to look out for Our TrendEnvelope Signal + RSI-8 arrow on the SAME candle, showing a screenshot below, although our Laguerre wasn't signalling so no trade according to the rules here, things stilled managed to drop down for a further +10 pips.

Red vertical line ive marked is to show an entry area marked by the TrendEnvelope and RSI-8 arrow signal on the same candle. This isn't an example of a trade to take since its more risky, but just emphasizing the importance to look out for moves signalled by these 2 components in this chart within a Guppy Trend.

I hope the screenshot below shows you what tends to happen with price with these signals on the same candle, as long as we have laguerre in the correct position for entry, this is what we are looking for
Attached Image (click to enlarge)
Click to Enlarge Name: eu_doublesignal.gif Size: 55 KB
  • #22
  • Jan 20, 2010 9:48am Jan 20, 2010 9:48am
The 5 minute does allow you to stay in trades longer
but I always really prefer 1 min trading. Also, if you are
on the 5 min and for any reason unsure of taking
the trade, its perfect, drop down to the 1 min chart
if you dont get a great signal, ignore the trade. Sometimes
the 5 min can look good but not getting the go on the 1
min can keep you out of a bad or marginal trade.

Its your setup absolutely... especially on the 1M
I have the tro multimeter snake in the right hand
corner, my favorite trend confirmation... the yellow
balls and arrows just below it is my second favorite
and perfect for guppy/rainbow trading the fansimple
shows price is above/below an important series
of moving averages, when all the yellow dots are
above or below the same side, price is strongly
trending in that direction or soon will be. I like it
especially because then there will be arrows too
when the ma is angling in a direction clearly
as well so if price for example is below all the ma's
and all the ma's are also arrow down you have a rock
solid down trend.

Just wanted to explain my trend helpers...lol
  • #23
  • Jan 20, 2010 9:53am Jan 20, 2010 9:53am
Entered at first red line.. open of next candle..
and exited at the second red line when price
bottomed at the same place for the second
candle just under ds2.

Thanks WF, I am really excited about trading this..

Brian

PS: The alex mtf is 4 important moving averages also shown in the
fansimple above, but I keep this on my charts for back testing
as the fansimple only shows real time.
Attached Image (click to enlarge)
Click to Enlarge Name: trendfollower1mina.gif Size: 62 KB
  • #24
  • Jan 20, 2010 10:12am Jan 20, 2010 10:12am
Hey Brian,

Nice trade! This is inspiring for me also. Your laguerre I think appears to be of a different period then the one in my chart, did you make any changes to it?

Looks fine to me though

I will read your last 2 posts again about the info you shared. Thanks again for your input, it is MUCH appreciated.
  • #25
  • Jan 20, 2010 10:31am Jan 20, 2010 10:31am
1m Eu chart attached: yellow line shows 7 excellent 10 pip minimum trades today on Eu short in line with 5m chart; a nice day's work.

do these meet criteria?

Thanks,

Steve
Attached Image (click to enlarge)
Click to Enlarge Name: wilteredfire.png Size: 75 KB
  • #26
  • Jan 20, 2010 10:39am Jan 20, 2010 10:39am
Quoting stevewide
1m Eu chart attached: yellow line shows 7 excellent 10 pip minimum trades today on Eu short in line with 5m chart; a nice day's work.

do these meet criteria?

Thanks,

Steve
Nice examples steve, those entries are bang on, and with stops of 10-12 pips providing you have a spread cost max 2pips, I cant see how any of those entries would have ended in a loss or to get stopped out. perfect man!
  • #27
  • Jan 20, 2010 11:05am Jan 20, 2010 11:05am
Steve...can you please send this indicator to me or post it. It wasnt in the ZIP file.

Blessings Joe

DoubleCCI-With_SMAvMe in the zip.
  • #28
  • Jan 20, 2010 12:29pm Jan 20, 2010 12:29pm
It should be the same
0.7
0
0
false

correct?

Quoting WilteredFire
Hey Brian,

Nice trade! This is inspiring for me also. Your laguerre I think appears to be of a different period then the one in my chart, did you make any changes to it?

Looks fine to me though

I will read your last 2 posts again about the info you shared. Thanks again for your input, it is MUCH appreciated.
  • #29
  • Jan 20, 2010 2:06pm Jan 20, 2010 2:06pm
unrelated to this thread but here it is........Steve

Quoting jflor100
Steve...can you please send this indicator to me or post it. It wasnt in the ZIP file.

Blessings Joe

DoubleCCI-With_SMAvMe in the zip.
Attached File(s)
File Type: mq4 DoubleCCI-With_SMAvMe.mq4   8 KB | 1,067 downloads
  • #30
  • Edited 5:55pm Jan 20, 2010 4:39pm | Edited 5:55pm
Quoting stevewide
1m Eu chart attached: yellow line shows 7 excellent 10 pip minimum trades today on Eu short in line with 5m chart; a nice day's work.

do these meet criteria?

Thanks,

Steve
The Guppy/Rainbow do make the trend obvious

Steve, did you notice if the RSI 8 alert was working on your chart? I can't seem to get it to work, I did change the move arrow and count bars setting, which shouldn't matter, the alarm is set to true, no pop-up/ding-dongl

Cheers

  • #31
  • Jan 20, 2010 6:44pm Jan 20, 2010 6:44pm
Quoting goldsurfer
The Guppy/Rainbow do make the trend obvious

Steve, did you notice if the RSI 8 alert was working on your chart? I can't seem to get it to work, I did change the move arrow and count bars setting, which shouldn't matter, the alarm is set to true, no pop-up/ding-dongl

Cheers
Maybe somebody can fix this? It doesn't work from the time I got it from the forums. Yup, the guppy does seem to make the Trend clear.
  • #32
  • Jan 20, 2010 6:59pm Jan 20, 2010 6:59pm
I had a working version once but after a crash have not
found it again, yet. Have tried to get it fixed too,
if someone could fix it, it would be greatly appreciated.

For the meantime, I added the 4/8 ema crossover
alert... you will see how often it lines up very well
with the rsi arrow so you get an alert for most of them
or a candle before or after anyway so its workable
but having the rsi arrow fixed would be great
when we can have it

Brian

Quoting WilteredFire
Maybe somebody can fix this? It doesn't work from the time I got it from the forums. Yup, the guppy does seem to make the Trend clear.
  • #33
  • Jan 20, 2010 10:21pm Jan 20, 2010 10:21pm
Quoting bdedyal

Hello Wish



Longs: Purple guppy at TOP of rainbow, yellow guppy at bottom.
Shorts: Purple guppy at BOTTOM of rainbow, yellow guppy at top.


It might be a good idea to change this in the first post. Furthermore, it might be a good idea to keep the first post always up to date with indicators and rules.

Having said this, i truly don't understand anything of entry points and signals. Would it be possible to post some charts with explanation and examples clearly pointed out on the chart?

Some of us still need to be treated like we were 6 years old
:nerd: <---- wish I was sometimes.

Tnx for your efforts, they are appreciated.
It's my price or no price at all!
  • #34
  • Jan 21, 2010 4:13am Jan 21, 2010 4:13am
Actually, after reading over your posts a couple of times things seem to be clearer to me.

Bias on the 5m was short. The red dotted line represents my short 1m entry. Was this a valid signal?
Attached Image (click to enlarge)
Click to Enlarge Name: scalp.gif Size: 34 KB
It's my price or no price at all!
  • #35
  • Jan 21, 2010 4:23am Jan 21, 2010 4:23am
yes; nice work.

Steve

Quoting 4extool
Actually, after reading over your posts a couple of times things seem to be clearer to me.

Bias on the 5m was short. The red dotted line represents my short 1m entry. Was this a valid signal?
  • #36
  • Jan 21, 2010 5:19am Jan 21, 2010 5:19am
Quoting stevewide
yes; nice work.

Steve
Thanks Steve,

This looks like a nice system to trade next to my longer (still intra) day trading.

Another trade came just up.
Attached Image (click to enlarge)
Click to Enlarge Name: scalp.gif Size: 37 KB
It's my price or no price at all!
  • #37
  • Jan 21, 2010 5:27am Jan 21, 2010 5:27am
Quoting 4extool
Thanks Steve,

This looks like a nice system to trade next to my longer (still intra) day trading.

Another trade came just up.

well, that was another bingo. That's 2/2 for me. I would like to do some back testing on this one. I'm especially interested in the swing to retraction ratio. Example, this last trade was lead in by such wonderful retraction.

Another thing I'd like to see with this is an rsi alarm that sounds when A certain level has been reached. For example, there can only be a long trade when the rsi is coming from lower level. this means, as long the rsi is at the middle or upper level, there can be no trade. An alarm would make it easier to trade multiple pairs.

I'm just trowing stuff out there and hope for your reactions :-)

BTW..I have no programming skills
It's my price or no price at all!
  • #38
  • Jan 21, 2010 9:16am Jan 21, 2010 9:16am
Quoting 4extool
well, that was another bingo. That's 2/2 for me. I would like to do some back testing on this one. I'm especially interested in the swing to retraction ratio. Example, this last trade was lead in by such wonderful retraction.

Another thing I'd like to see with this is an rsi alarm that sounds when A certain level has been reached. For example, there can only be a long trade when the rsi is coming from lower level. this means, as long the rsi is at the middle or upper level, there can be no trade. An alarm would make it easier to trade multiple...
Well done! Always make sure that any trades taken on the m1 with the guppy, match the direction of the m5 guppy, and we're all set
Your trade you pointed out in your screenshot was fine too, rules were met. If the m1 guppy is too contracted at time of taking trade its likely that it will retrace a little back up for another entry point. This way we can safely get multiple entries into the existing m5 trend.

I will continue to update post 1,2 and 3 over the next few days if there are any changes. Thanks
  • #39
  • Edited 5:16pm Jan 26, 2010 4:59pm | Edited 5:16pm
On first post:
Longs: Purple guppy at BOTTOM of rainbow, yellow guppy at bottom.

Shorts: Purple guppy at TOP of rainbow, yellow guppy at top.


I suppose that the correct sentence will be:

Longs: Purple guppy at BOTTOM of rainbow, yellow guppy at TOP.
Shorts: Purple guppy at TOP of rainbow, yellow guppy at BOTTOM.


In the same way I suppose that you probably want to said "...in m1 chart only".
4) Mtf Laguerre - Crucial part of the method and will be used to take entries in m2 chart only.


Thanks a lot for sharing. I follow the TheWicker's original system since the origins.
I think that your system improves our aim: "to catch more pips..."
I will follow closely the development of this thread.
I will try to contribute very soon with some charts.
  • #40
  • Jan 26, 2010 9:42pm Jan 26, 2010 9:42pm
How are you doing buddy?

I really like this thread and keep coming back
to adjust things for myself, but I find myself
making mostly 5 min trades so far, how about you?

But even still...I find it a very good change from the
previous thread and much more workable to me
even if just on the 5m.

Could you post a couple of your more recent trades?

Brian

Quoting WilteredFire

---=[Exits & Stops]=---
Attachment


Various exits may be use so I dont want to get into much detail here but give some liquid guidelines If i may as Exits, Stops and MM are entirely personal for everybody.


[left][b]Since we're trading off the m1, I can suggest taking immediate profit of +10 pips or by taking 50% off the trade and moving the other half to BE or by moving the entire trade to BE at +10 and taking profit...
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