ALF revisited - simple, effective daytrading
ALF never follows immediately but it does eventually (if a trend develops). That's the way it's supposed to work. When PA is ranging, it follows closely and vice-versa.
I originally thought (based on my testing at the time) that the slope of ALF was a factor - not so, that has been deprecated since early in the first thread. PA is always the best indicator on your chart - it has zero lag and will always tell you what's happening (if you look at it in tandem with S/R).
Rolleddice,
IMHO two things to look at:-
1. Your entry was tooo late. The candle that crossed ALF (2 candles earlier) was red and so the entry was on the close of that candle. Although ALF is flat the general trend is down. Trade good for ~ 20pips.
2. When you entred it was right at the London open where anything can happen. More often than not London traders try to reverse the direction of the Asian session.
hth
N.
Have a small live account with Alpari uk Trading with 0.01 lots.
Trades for today, using SR candles.
EUR/USD
1. Short 9am candle = loss 14 pips
2. Long 10 am candle= gain 90 pips(pa met alf)
3. Short 16.45 candle= loss 20 pips
EUR/JPY
1.Long 10.15 candle= gain 72 pips(pa met alf)
2.Short 1400 candle= loss 5 pips(pa met alf)
3.Long 15.30 candle= gain 20 pips(pa met alf)
GBP/USD
1.Long 10.15 candle= gain 90 pips(pa met alf)
USD/CAD
1.Short 10 am candle = gain 25 pips(pa met alf)
2.Long 12.00 am candla= loss 8 pips(pa met alf)
Total Pips for the day...
I'm working on a trailing stop EA, but wouldn't know how to grab ALF or color bar changes. I'm not that good.
