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Nanningbob 4H trading system

  • #1,041
  • Feb 16, 2010 5:50pm Feb 16, 2010 5:50pm
Quoting sidhujag
I'm using Tadawul FX live... its 4 digits... no swap and fixed spread.. good for testing since you know the conditions are the same at all times.

BTW looking at AUDNZD... what time did you take the trade? On the Sell high I see it would have been at the pink line since the white is hovering above the resistance.

But the RSI(5) hasn't been in overbought territory since the 12th... there is one spike at 1.2759 that brought it back to overbought... is that where you placed the trade? I see the divergence after that..

This one probably hit B/E for...
I used the pink because white was above the R line. Here is the pic. Also, I would take a manual trade at all those R lines. You want anything near, you dont have to necessarily wait for the EA on a trade like this. RWB are high and RSI is diverging, blue, red and white are also all diverging. To me this is the time to play with no TP and see if it will run south. Unless there is some crazy news, Forex does have some unpredictability to it no matter what your system is, I am looking at a nice drop, see 3 weeks ago as a reference. So traders love these S/R trades. In Forex all you can do it put the trades in your favor and take your best shot. To me this is a really good shot. In other words if you are not in I would take a manual trade on this one so I wouldnt miss it.
Attached Image (click to enlarge)
Click to Enlarge Name: aud nzd.gif Size: 19 KB
  • #1,042
  • Feb 16, 2010 6:01pm Feb 16, 2010 6:01pm
There are some currencies that will need the pink EA. I have not done this system long enough to decide which is which yet but white always above the S/R lines would be a good sign that a currency needs to use pink instead of white. I spent days trying to figure out a good medium but a two line system was my best answer to this problem.
  • #1,043
  • Feb 16, 2010 6:05pm Feb 16, 2010 6:05pm
Also, I think as you get used to this system, you would no longer be tied to a MT4 broker. You could tape a line 25% down from the top of your monitor and 25% up from the bottom and trade with any broker using RSI and draw your own S/R lines. You may not be able to combine sto with MACD but you could create a second screen and work something out. This could be a very interesting system once we get everything ironed out.
  • #1,044
  • Feb 16, 2010 6:10pm Feb 16, 2010 6:10pm
Take a look at that aud/nzd trade 3 weeks ago and see how many times off of the pink you could have taken trades. As long as the blue is less than the red it is take the rallies in a DT. So there could be trend trading off of this system. JUST a thought for the future. In other words the risk to reward ratio would seem to be good with this system if you use it for trend trading. Sorry to keep reediting but I developed this system trying to come up with a trend trading system. I cant get the EA trend trading to make money but with the counter trend system it seems to work great. FUNNY WORLD.
  • #1,045
  • Feb 16, 2010 6:38pm Feb 16, 2010 6:38pm
HI Bob

thanks very much for the V3 files I have downloaded them and will put them on test as of tomorrow.

Kind Regards.
  • #1,046
  • Feb 16, 2010 8:28pm Feb 16, 2010 8:28pm
thanks for the 4 digit recommends.
  • #1,047
  • Feb 16, 2010 8:59pm Feb 16, 2010 8:59pm
I am having trouble with my MPTM it is closing trades as soon as they open. Any suggestions on my settings??
  • #1,048
  • Feb 16, 2010 8:59pm Feb 16, 2010 8:59pm
At the time I analyse a similar idea with the 25% distance, and have programmed a little NB-indicator-meter.

What I see as little problem are the values for the yellow lines in the main chart, and for the red line in the RWB indicator, because they change if we change the chart width.
.
Attached Image (click to enlarge)
Click to Enlarge Name: nb_audnzd.gif Size: 21 KB
  • #1,049
  • Feb 16, 2010 9:13pm Feb 16, 2010 9:13pm
whether 5 digit or 4 digit the MPTM is not working. It is closing trades as soon as they open. Will trade naked until we get this fixed or go back to an old version.
  • #1,050
  • Feb 16, 2010 9:19pm Feb 16, 2010 9:19pm
Quoting SwingMan
At the time I analyse a similar idea with the 25% distance, and have programmed a little NB-indicator-meter.

What I see as little problem are the values for the yellow lines in the main chart, and for the red line in the RWB indicator, because they change if we change the chart width.
.
Yes, We stay with the 4 week, 1 month view. If the lines change some with the height, the ratio stays the same so the get ready to trade signal will remain. All we want to do is stay out of the middle 50% so the change I think is not significant. The eur aud was 815 pips from top to bottom with two indicators on the screen, it was 825 without the indicators. I dont think that is enough difference to affect the system however thank you for bringing that up. Your meter looks interesting though. If you could explain a little more in detail how it work would appreciate it.
  • #1,051
  • Feb 17, 2010 1:05am Feb 17, 2010 1:05am
Bob, thanks for the reply. My point is there seems no divergence at all if the line is drawn on close. Price is declining and RSI is declining as well. Maybe I am too stubborn. I saw there are some debates on the rsi divergence definition. In this case, the price is not at swing high and swing low, strictly speaking, there should be no divergence. see below for an example divergence chart.

Attached Image (click to enlarge)
Click to Enlarge Name: dayrsimage.jpg Size: 40 KB


I suggest to use MACD double cross(down cross, up cross then down cross) above zero line to indicate the trend change to bearlish. Or MACD double cross (up cross, down cross and up cross) below zero line to indicate the trend change to bullish and trigger the position. Just some fresh thoughts.

Quoting nanningbob
It shouldnt make any difference because you will see the divergance and have the EA on. When it enters the trade you will monitor it. I have seen...
  • #1,052
  • Feb 17, 2010 2:37am Feb 17, 2010 2:37am
There is a mistake in the coding of the 201-204 Sell series the non pink ones in the 4D and 5D version. There was a negative sign instead of a plus sign in the code. I have the corrections below. Again Sell series 201-204 non pink EAs only replace with these. Sorry.
Attached File(s)
File Type: zip REPLACEMENTS.zip   64 KB | 327 downloads
  • #1,053
  • Feb 17, 2010 2:48am Feb 17, 2010 2:48am
Quoting henryloving
Bob, thanks for the reply....
I am not sure quite what you are saying. Before we discuss we need to define divergence. Divergence is when the lowest lows of the candles which you have drawn a line on the chart forming a line pointing downward. Then you connect the lowest lows on the RSI which you have drawn on the chart but that line is angling upward over the same time period. That would be divergence. The lines are going in opposite directions. With that definition you have drawn divergence in your picture. When I talk about divergence that is what I mean. I guess there are other definitions but I assume that is the most common one.

In counter trend trading we are not necessarily looking for a complete price reversal as we are just a retracement. If price has dropped 200 pips or more and now is retracing we get that trade. The divergence may not necessarily point out a true price reversal as it would a correction. This may sound crazy to people who have been trend trading but I find trading retracements easier to trade than a trend. If you are a channel trader to me it is easier to go from the outside of the channel in than inside out. If I am on the very outside it is extremely rare for price to go even more higher without retracing first. If I am on the inside of the channel hoping it will continue going up I feel I am in a guessing crapshoot. Maybe it will, probably it wont or it will fake or ....... But outside in I feel I have a much better chance, I know price will go back to a median but once it gets back I dont know if it will go up or down.
  • #1,054
  • Feb 17, 2010 4:18am Feb 17, 2010 4:18am
I went through the MPTM program and turned all the true to false. I then turned the manage all trades to true and the break even to true. I put the BE profit pips to 0 and deleted the remove all stop losses from the script folder. It is not closing any trades when I turn it on now. Waiting to see if it brings SL to even after 20 pips. Be great if we get this one working.
  • #1,055
  • Edited 6:46am Feb 17, 2010 5:18am | Edited 6:46am
Quoting nanningbob
...Your meter looks interesting though. If you could explain a little more in detail how it work would appreciate it.
Here a first version of the meter-indicators.
I think that the meter-signal indicator is very usefull for analysis, because at a glance you can see all the last signals and analyze them. You can switch the drawing of arrows or vertical lines.

Just a question: are you using the fractal lines? For my eyes are to many lines in a chart...

The indicators they may have bugs, especially for the last candle...
A problem to solve was to scale the MACD and to get right values if you scroll the chart and I had not the time to test all possibilities. On scrolling you must wait few seconds until the MACD and the signals are recalculated.
Also is possible that the indicators repaints, and in this case is better to change the time frame and go back for an indicators refreshing.
Later when the indicators are tested, I can post the source codes.

I think that for a next version might be good to filter the signals for close positions above/below the two 25% lines, but first you must test this.
.
Attached Image (click to enlarge)
Click to Enlarge Name: nb_usdcad.gif Size: 25 KB
Attached File(s)
File Type: tpl nanning_meter.tpl   9 KB | 570 downloads
File Type: ex4 NB Meter_MACD.ex4   5 KB | 703 downloads
File Type: ex4 NB Meter_RSI.ex4   4 KB | 662 downloads
File Type: ex4 NB Meter_Stochastic.ex4   7 KB | 664 downloads
File Type: ex4 NB Meter_Signals.ex4   11 KB | 716 downloads
  • #1,056
  • Feb 17, 2010 6:25am Feb 17, 2010 6:25am
Quoting SwingMan
...Here a first version of the meter-indicators.
Please reload from my last post the NB Meter_Signals file.

Now gives the option to filter the prices above or below the 25% lines.
The condition is not strong, that means that the program check if the High is above the upper line, or the Low is below the lower line. A strong condition would be to check the Close positions.
  • #1,057
  • Edited 7:37am Feb 17, 2010 7:36am | Edited 7:37am
HI Bob

Please find attached additional tool for your arsenal of indicators. It was provided by Scooby Doo and it displays RSI over all time frames. Please read the short PDF for the settings. You quite rightly mentioned that a trade can be made by relying on RSI alone. As an extra filter and additional protection some people only rely on RSI if the time frames on both side indicate the same conditions (e.g. if H1 showing O/S, then H4 and M30 should show O/S in order for entering a BUY trade).

Kind regards
Attached File(s)
File Type: zip UltimateRSI.zip   136 KB | 382 downloads
  • #1,058
  • Feb 17, 2010 8:45am Feb 17, 2010 8:45am
Thanks for all the input. I have focused today on getting a breakeven EA of some kind working. Very disappointed the MPTM is not working right. Thought I had something. Any way dont want to clutter up the screen with too many indicators. keep it simple, once price gets to the bottom or top of the screen it really only has one direction it can go.
  • #1,059
  • Feb 17, 2010 11:00am Feb 17, 2010 11:00am
Quoting nanningbob
Thanks for all the input. I have focused today on getting a breakeven EA of some kind working. Very disappointed the MPTM is not working right. Thought I had something. Any way dont want to clutter up the screen with too many indicators. keep it simple, once price gets to the bottom or top of the screen it really only has one direction it can go.
Hi Bob

I think your problem is with sell orders in mptm. I have just checked the mptm and I was getting the same problem as you (i.e. closing and part closing at the same time). I went back and read the instructions once again and it clearly states:

"BreakEvenProfit: will add this to the stop loss to a buy order, subtract it for a sell order. My default of 2 pips means the sl is set to break even + 2, ensuring a minimum of 2 pips profit. Set it to 0 if you do not want this feature."
For short orders Breakeven profit should be a minus value. I looked at the problem orders and they were all SHORTS. So I just changed the Breakeven profit to 0 and all working OK now. For ease of understanding and clarity I am atatching a picture of this section of the settings which is now working OK.

Kind regards
Attached Image (click to enlarge)
Click to Enlarge Name: mptm setting.jpg Size: 136 KB
  • #1,060
  • Feb 17, 2010 11:05am Feb 17, 2010 11:05am
A little studie about the 25% lines:

In chart 1 we have the two horizontal lines drawn with the "NB Fourths" indicator.

Just a technical remark: the autor use the internal functions "WindowPriceMax(0)" and "WindowPriceMin(0)". This functions returns the upper and lower border values from the visible window, and not the HigherHigh and LowerLow prices!

Chart 2 has the same number of bars like chart1 (120 bars = ca. 1 month).
I programmed a little HighLow indicator to calculate the 25% lines. The indicator takes everytime the last 120 bars to calculate this lines.
(A nice option is to make the calculation with Open and Close, not only with High and Low).

If we compare the signals, we see that in chart1 on the left edge we have signals only in chart 2.

Now if we scroll the first chart, we see in chart 3 that at the moment who we have the days from 22.Jan on the right edge, the signals appear also in chart1.

Conclusion: if also the MACD were programmed to draw scaled values for the last 120 bars, than we can analyse correct the signals back!
The current versions for drawing the 25% lines and the MACD are valid only at the right edge of the charts.
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nb_audnzd1.gif Size: 18 KB
Click to Enlarge Name: nb_audnzd2.gif Size: 20 KB
Click to Enlarge Name: nb_audnzd3.gif Size: 18 KB
Attached File(s)
File Type: mq4 NB Fourths_v2.mq4   4 KB | 576 downloads
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