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ALF revisited - simple, effective daytrading

  • #481
  • Jun 12, 2010 11:36am Jun 12, 2010 11:36am
AY AY Captain.

On it !!
  • #482
  • Jun 12, 2010 11:36am Jun 12, 2010 11:36am
Thank you Lou, as always for your hard work,

just more painful that i need to wait after the weekend to test these new indis.

also how is the alert coming on the Alf candle system? i really like to see if my trade entry points are the same as yours. see how close i can come to what you have.

have a nice weekend and i already templated the indis together so i can check it on pairs nobody test, expect me
  • #483
  • Edited 11:58am Jun 12, 2010 11:36am | Edited 11:58am
Quoting Lou G
I continue to search for a better indicator to work well with ALF.

In the last few days I reviewed most of John Ehlers published indicators and, after a lot of experimentation, ended up with an indicator called Instant Trendline and coded IT_Candles (posted below) to interface with it.

This is as beta as it gets since I did most of the work when the market was closed and so have no idea how it will work on live data.

If any of you would like to be beta testers, download both indicators, put them in yourmt4/experts/indicators and replace Fractal_Candles_SR_v3...
Hi Lou,

I added them to the chart and they look real nice, less jumpy and sticking with the trend. Don't know how they will react in live trading. Some things look very nice in a static environment but tend to do things different in live mode. Such as repainting or huge cpu absorbtion. I will look at it closely monday morning and will leave a reply on the board before your monday morning wake up call! One question, the alpha value in the settings, how do you come up with the number? Is it mathematical founded, based on Ehlers work or just plain simple trial and error?

Thanks pbb

Just saw the instant trendline indicator has the same alpha value. So if that's a standard indicator, my question is answered.
  • #484
  • Jun 12, 2010 1:09pm Jun 12, 2010 1:09pm
Quoting pbb
Hi Lou,

I added them to the chart and they look real nice, less jumpy and sticking with the trend. Don't know how they will react in live trading. Some things look very nice in a static environment but tend to do things different in live mode. Such as repainting or huge cpu absorbtion. I will look at it closely monday morning and will leave a reply on the board before your monday morning wake up call! One question, the alpha value in the settings, how do you come up with the number? Is it mathematical founded, based on Ehlers work or just plain...
Ehlers suggests 0.07 but I found that 0.09 works better for my purposes,
Old Benjamin was right
  • #485
  • Jun 12, 2010 1:10pm Jun 12, 2010 1:10pm
Quoting trade4fun
Thank you Lou, as always for your hard work,

just more painful that i need to wait after the weekend to test these new indis.

also how is the alert coming on the Alf candle system? i really like to see if my trade entry points are the same as yours. see how close i can come to what you have.

have a nice weekend and i already templated the indis together so i can check it on pairs nobody test, expect me
The alert will be done by Monday.
Old Benjamin was right
  • #486
  • Jun 12, 2010 1:30pm Jun 12, 2010 1:30pm
Quoting Lou G
Tentative entry/exit rules:

Long on green, short on red, exit on all color changes.

Post feedback, please.

Thanks,

Lou G
Lou, when you say "exit on all color changes", do you mean when the IT lines cross or when the candles change from red or green to one of the other colors?
  • #487
  • Jun 12, 2010 2:13pm Jun 12, 2010 2:13pm
Quoting evynsdad
Lou, when you say "exit on all color changes", do you mean when the IT lines cross or when the candles change from red or green to one of the other colors?
No need to have the Instant Trend indicator on the chart (in fact, better not to). The candles change color when the lines cross and when PA is not moving in the same direction as the trend. So, "yes" to the second part of your question...

Should look like this:
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 8 KB
Old Benjamin was right
  • #488
  • Edited 3:17pm Jun 12, 2010 2:42pm | Edited 3:17pm
See Post #1. Download ALF_Alert.ex4 and copy to yourmt4/experts/indicators. Alerts will be sent (once, and only once) when PA is about to open above/below ALF.

To anticipate a question, I was unable to find a reliable way to determine coding-wise when "ALF is flat and PA is cycling back and forth". I would have excluded this situation if I could have but better too many alerts than not enough

Here's a screenshot of ALF_Alert with the optional arrows enabled:
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 9 KB
Old Benjamin was right
  • #489
  • Jun 12, 2010 3:14pm Jun 12, 2010 3:14pm
Hi Lou,
So from now on you are suggesting to use the IT_candles in place of Fractal_SR_candles or we just wait for the results and see how the new one performs in live market?
Thanks for all your efforts.
  • #490
  • Jun 12, 2010 3:20pm Jun 12, 2010 3:20pm
Quoting desi
Hi Lou,
So from now on you are suggesting to use the IT_candles in place of Fractal_SR_candles or we just wait for the results and see how the new one performs in live market?
Thanks for all your efforts.
No, not at all. I plan to be using it on Monday to see how it performs live but others may either continue using what they are used to or become beta testers of the new IT_Candles - your choice.

EDIT - John Ehlers has a Power Point presentation on the Instant Trendline posted at his website - if interested, look under the "Seminars" tab.
Old Benjamin was right
  • #491
  • Jun 12, 2010 4:58pm Jun 12, 2010 4:58pm
If you are interested in knowing why I constantly hammer on the need for simplicity in trading, check out this thread:

http://www.forexfactory.com/showthread.php?t=27286

Not the only reason for my attitude toward trading, but a big part.
Old Benjamin was right
  • #492
  • Jun 12, 2010 5:28pm Jun 12, 2010 5:28pm
Quoting Lou G
No, not at all. I plan to be using it on Monday to see how it performs live but others may either continue using what they are used to or become beta testers of the new IT_Candles - your choice.

EDIT - John Ehlers has a Power Point presentation on the Instant Trendline posted at his website - if interested, look under the "Seminars" tab.
Thanks, I will check it out.
  • #493
  • Jun 12, 2010 6:33pm Jun 12, 2010 6:33pm
Lou,

You state enter/exit on colour change and never refer to the ALF line in your discussion on IT Candles. However, your chart shows IT candles with the ALF line.

On putting IT candles on my charts, green is always above while red is always below (as expected i guess but they do sometimes straddle the line). So am i assuming that it is self-evident and therefore no discussion about IT candles and ALF is warranted or are you implying that the ALF is not even required.
  • #494
  • Jun 12, 2010 7:15pm Jun 12, 2010 7:15pm
Quoting flyer415
Lou,

You state enter/exit on colour change and never refer to the ALF line in your discussion on IT Candles. However, your chart shows IT candles with the ALF line.

On putting IT candles on my charts, green is always above while red is always below (as expected i guess but they do sometimes straddle the line). So am i assuming that it is self-evident and therefore no discussion about IT candles and ALF is warranted or are you implying that the ALF is not even required.
Sorry I was not clear about that - ALF definitely remains on the chart.

I did say that IT_Candles (if it works properly) may supplant Fractal_Candles but I'm sure I did not suggest that it was eliminating ALF.
Old Benjamin was right
  • #495
  • Jun 13, 2010 6:22am Jun 13, 2010 6:22am
just subscribing...seems like a very good simple system.

to be clear, the MQ4 file goes into which folder?


thanks
jacob
  • #496
  • Jun 13, 2010 6:35am Jun 13, 2010 6:35am
Quoting bretlee
Hi Lou,

thanks Lou G for this best Tradingsystem i ever seen ....
Thanks for the optimated system by pilotui .
I will share my Template and my Indicators to follow you.

This System is perfect for me and others. And i think less indicators are better for a better overview ....

Best Regards
bretlee
IMHO, your setup is way too complicated - the official ALF method looks like the screenshot in post #489. But, if it floats your boat...
Old Benjamin was right
  • #497
  • Jun 13, 2010 7:01am Jun 13, 2010 7:01am
@ Lou ,

iīm so sorry .
Yes itīs correct.
I donīt see the newer Posts from you ...
I have delete my Post ...

Sorry Lou ...

Best Regards
bretlee
  • #498
  • Jun 13, 2010 10:10am Jun 13, 2010 10:10am
Lou, GREAT system! I am a long time lurker first time poster to your thread.
I am sure you have already thought of this, but, when I change the ALF line color to say, green, and 1 point thickness, when I reload the chart it always reverts back to the blue, 2 line thickness. I am waiting until Tuesday to load up the newest indicators after your live trading on Monday so that issue may have already been addressed.
Thanks and keep up the great work.
Pips are like cabbage, the green ones are the tastiest!
  • #499
  • Jun 13, 2010 10:38am Jun 13, 2010 10:38am
Quoting cabbagepicker
Lou, GREAT system! I am a long time lurker first time poster to your thread.
I am sure you have already thought of this, but, when I change the ALF line color to say, green, and 1 point thickness, when I reload the chart it always reverts back to the blue, 2 line thickness. I am waiting until Tuesday to load up the newest indicators after your live trading on Monday so that issue may have already been addressed.
Thanks and keep up the great work.
Don't change the color or thickness.
LOL
(sorry could not resist)

PGPB
  • #500
  • Jun 13, 2010 10:43am Jun 13, 2010 10:43am
There is a whole procedure to change colors and indis so they stay the way you wish, but that goes outside the purpose of this thread.

Consider it to fall under the subject programming.
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