ForexLion Trading System - Part 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

HYBRID: trading system within a trading system 31 replies

Trading System Using Relative Strength-Part 2 1,499 replies

Is the "system" part really so easy to come by? 86 replies

Trading: Part Science and Part Art 28 replies

Attachments: ForexLion Trading System - Part 2
Exit Attachments

ForexLion Trading System - Part 2

  • #1
  • First Post: May 28, 2010 7:14pm May 28, 2010 7:14pm
Before, I begin, A kind request to the moderators.

I know this system has been posted 27 times already on forexfactory, and repetitively explained in detail, yet there are complaints by people who prefer babysitting that I never explain my system, so this thread was necessary.

Kindly let the thread live in its current state.

In this thread, I will be discussing the system in its original state, without adding any extra indicators I might have designed over time, so kindly do not reference to other indicators
  • #2
  • May 28, 2010 7:29pm May 28, 2010 7:29pm
Introduction:

The system uses 5 indicators on chart, and the 6th one is the library function.

All Indicators have been sourced from forex-tsd forums, not my own.

The Indicators:

  1. Time Series Forecast value 21
  2. Linear Regression value 21
  3. XpMA value 13 -- in marketiva this is known as T3 triple exponential moving average.
  4. MACD defaults
  5. Parabolic SAR defaults

Template and indicators are attached.

Method:

Strength of trend is given by distance of LR and TSF lines from each other, so if they are married (close and overlapping) strength of trend is very strong, if they are divorced (far apart) strength of trend is weak and chances of reversal exist.

PARSAR and MACD are used for additional confirmation.

XpMA has an added benefit of color change and alerts, this is a good way of deciding entry and exit.

So unless you get a trade entry on xpma, do not bother entering the trade, use the rest of the indicators as confirmation of trend.

Attached File(s)
File Type: tpl fl.tpl   41 KB | 667 downloads
File Type: ex4 macd_custom.ex4   2 KB | 726 downloads
File Type: mq4 LR.mq4   3 KB | 691 downloads
File Type: mq4 Time Series Forecast.mq4   3 KB | 662 downloads
File Type: mq4 xpMA.mq4   16 KB | 686 downloads
File Type: mq4 T3MA.mq4   3 KB | 676 downloads
  • #3
  • May 28, 2010 7:33pm May 28, 2010 7:33pm
Overall, its a very clean and a very easy to use system.

This is my standard working system since 2006.

I have opened a live account for you to follow and see the actual performance gains you can get from this system on myfxbook

http://www.myfxbook.com/members/forexlion/forexlion/33439

And yes,

here is a screen shot of the system on charts

http://img594.imageshack.us/img594/7117/euroc.gif
  • #4
  • May 28, 2010 8:45pm May 28, 2010 8:45pm
Quoting forexlion
Introduction:

The system uses 5 indicators on chart, and the 6th one is the library function.
The 5 indicators are listed.
The Library function is not listed.
Is it called automatically, or do I need to include something.
Thank you.

Is this method/strategy designed for 15min charts?
  • #5
  • May 28, 2010 8:52pm May 28, 2010 8:52pm
Quoting michaelB
The 5 indicators are listed.
The Library function is not listed.
Is it called automatically, or do I need to include something.
Thank you.

Is this method/strategy designed for 15min charts?
The Library function for XpMA is the T3MA.mq4 indicator which is not used on chart.

This strategy was originally designed for weekly and monthly charts, but can be used on any timeframe with little extra effort and experience.
  • #6
  • May 28, 2010 11:12pm May 28, 2010 11:12pm
This is very visual and looks promising...Question: what EXACTLY are you looking for in the PSAR?
  • #7
  • May 29, 2010 1:51am May 29, 2010 1:51am
Quoting 4xplosion
This is very visual and looks promising...Question: what EXACTLY are you looking for in the PSAR?
nothing more than confirmation of direction

xpma value 13 decides the direction

psar, macd, tsf, lr they just confirm it
  • #8
  • May 29, 2010 2:16am May 29, 2010 2:16am
looks kind off similar to what i'm using
http://www.forexfactory.com/showpost.php?p=3759623&postcount=249107
i will try yours too, on different tf to see differences. thanks!
  • #9
  • May 29, 2010 6:20am May 29, 2010 6:20am
NOW there will be a lot of people happy, so many were asking again and again for you to summarize it one more time.

  • #10
  • May 29, 2010 7:53am May 29, 2010 7:53am
hmm can you please give me some link to some of this 27 death threads about this method?;D i would love to read and check why they are death ? it look nice thanx
  • #11
  • May 29, 2010 8:16am May 29, 2010 8:16am
Quoting bbolss
hmm can you please give me some link to some of this 27 death threads about this method?;D i would love to read and check why they are death ? it look nice thanx
Just click on Forexlion`s name and look under "threads started".
  • #12
  • May 29, 2010 8:30am May 29, 2010 8:30am
ok i get it
i didnt known that he is talking all about his own threads about this method;D
and whad di you guys think? why no thread survived?
  • #13
  • May 29, 2010 8:34am May 29, 2010 8:34am
Interesting system, forexlion.
  • #14
  • May 29, 2010 8:53am May 29, 2010 8:53am
looks like my own system.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-2010-05-30-00-10-37.jpg Size: 57 KB
  • #15
  • May 29, 2010 9:50am May 29, 2010 9:50am
so the entries are the arrows on xpma?
  • #16
  • May 29, 2010 9:57am May 29, 2010 9:57am
looks like yes
when it is biig trend its ok but on small sometimes its much to late
or when its a realy fast move up or down signal is also late
but in final count it look good
  • #17
  • May 29, 2010 10:24am May 29, 2010 10:24am
this method will not work well for scalpers, its only for trend traders

because entry and exit is based on strength of trend
  • #18
  • May 29, 2010 1:55pm May 29, 2010 1:55pm
Quoting forexlion
this method will not work well for scalpers, its only for trend traders

because entry and exit is based on strength of trend

Interesting idea forexlion.

I noticed that when the TSF and LR are tight and parallel you get a better signal than when they are not.

Also, what are your suggestions for stops and profit targets, or do you just try to trade from arrow to arrow?

Thanks
  • #19
  • May 29, 2010 2:45pm May 29, 2010 2:45pm
I see that you can get 5 or 7 pips every pull back in the same direction of the trend on M15.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 15.gif Size: 22 KB
  • #20
  • May 29, 2010 5:46pm May 29, 2010 5:46pm
Quoting tazzam72
I see that you can get 5 or 7 pips every pull back in the same direction of the trend on M15.
filters do exist which allow me to trade the inner waves with complete confidence and collect far more pips than the original method.

But the filters are not in the scope of this thread, so will not discuss them here, main reason being that unless the main method is not clear, the use of filters is almost useless.

http://img263.imageshack.us/img263/2148/eurou.gif
0 traders viewing now