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ALF revisited - simple, effective daytrading

  • #881
  • Jun 17, 2010 3:07pm Jun 17, 2010 3:07pm
Quoting GEOFFREY62
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...
Can you tell me the time frame you used?
  • #882
  • Jun 17, 2010 3:17pm Jun 17, 2010 3:17pm
Quoting Minnelli
My thinking is because I look at multiple time frames on the EURUSD, 1, 5, 15, 30, 1h and it had me realize maybe we don't need all these other indicators to look for good entries. Maybe we need to look at the ALF line in say the 30m window to see if it is flat and not take a trade. Maybe all the indicators can be ALF, but just looking at data from other periods as confirmation.
This indicator overlays the ALF line from other time frames.
Add it to your experts/indicator folder, restart Metatrader and drag it to a chart. You need to set TimeFrame in INPUTS, where you can also change the line colour.
Attached File(s)
File Type: ex4 ALF-MTF.ex4   3 KB | 697 downloads
  • #883
  • Jun 17, 2010 3:40pm Jun 17, 2010 3:40pm
A good way to show your trades on charts is to simply go to the account history tab of the mt terminal window and drag whichever trade you wish to show onto the main chart window. everyone can then see your exact entry and exit.

regards

doc.
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  • #884
  • Jun 17, 2010 5:04pm Jun 17, 2010 5:04pm
Quoting Minnelli
Suggestion for Lou G.
Awesome indicator. Love it...

Would it be possible to create something like #SignalBars where we could maybe see multiple time frame ALF data - if price is above ALF, slope of ALF, IT candle color, plus anything else.

My thinking is because I look at multiple time frames on the EURUSD, 1, 5, 15, 30, 1h and it had me realize maybe we don't need all these other indicators to look for good entries. Maybe we need to look at the ALF line in say the 30m window to see if it is flat and not take a trade. Maybe all the indicators...
I suggest you look at different time frames by simple switching using the icons on the tool bar. I do this at the beginning of each trading session (and sometimes during), until I find the TF that looks the most tradable to me - sometimes a chart that looks very choppy (long wicks, alternating up/down bars) will make a lot more sense at a lower TF.
Old Benjamin was right
  • #885
  • Jun 17, 2010 5:10pm Jun 17, 2010 5:10pm
... down towards the arbitrary 1000 post limit I impose on threads. Get your burning questions in early.

I feel that my participation becomes less and less essential as time passes. I begin threads with a clear idea of the information I have available to share and, once I have shared it, there's not a great deal more I have to do.
As they used to say in old Western movies, "My work here is done".

In addition, I find that the time I spend on this has a negative impact on my own trading.
Old Benjamin was right
  • #886
  • Jun 17, 2010 5:21pm Jun 17, 2010 5:21pm
Source code for the indicators used in this method will be posted before my departure from the thread.

The mq4 file for ALF is already posted in the first ALF thread (as AdaptiveLaguerreFilter.mq4).

The mq4 file for Fractal_Candles_SR_v3 is at Post #1 of this thread.

I will post the code for ALF_Alert, IT_candles and Instant_Trendline over the weekend.
Old Benjamin was right
  • #887
  • Jun 17, 2010 5:45pm Jun 17, 2010 5:45pm
Quoting Lou G
... down towards the arbitrary 1000 post limit I impose on threads. Get your burning questions in early.

I feel that my participation becomes less and less essential as time passes. I begin threads with a clear idea of the information I have available to share and, once I have shared it, there's not a great deal more I have to do.
As they used to say in old Western movies, "My work here is done".

In addition, I find that the time I spend on this has a negative impact on my own trading.
"Shane, Shane, come back....Shane!" (sorry, couldn't resist)
  • #888
  • Jun 17, 2010 6:05pm Jun 17, 2010 6:05pm
I dont know about you guys...
I think this ALF baby is best working in M5.
I tend to missed some action when play it with higher timeframe...

Hey... Lou, thanks for everything!

  • #889
  • Jun 17, 2010 6:20pm Jun 17, 2010 6:20pm
Quoting NiceGuy
I dont know about you guys...
I think this ALF baby is best working in M5.
I tend to missed some action when play it with higher timeframe...
I think it depends on the currency pair.

I trade EURJPY and GBPJPY, for me H1 is the best.
  • #890
  • Jun 17, 2010 6:34pm Jun 17, 2010 6:34pm
Quoting NiceGuy
I dont know about you guys...
I think this ALF baby is best working in M5.
I tend to missed some action when play it with higher timeframe...

Hey... Lou, thanks for everything!

I agree.

http://img291.imageshack.us/img291/5...ktobackalf.jpg

Above is a screenie of two back-to-back market moves that worked in my favor. For a little while there I thought I wasn't going to do too well (during retracements on the downturn), but overall it turned out in my favor.

I've tried it on M15 and M30, and M5 produced more pips today than the others.

M1 was the least successful. There's a probability of making pips, but it's likely too choppy, IMHO.
  • #891
  • Jun 17, 2010 6:50pm Jun 17, 2010 6:50pm
Quoting NiceGuy
I dont know about you guys...
I think this ALF baby is best working in M5.
I tend to missed some action when play it with higher timeframe...

Hey... Lou, thanks for everything!

You're welcome - I like M5 also, especially in the last few days when longer TF's have been very choppy and hard to interpret.
Old Benjamin was right
  • #892
  • Jun 17, 2010 7:54pm Jun 17, 2010 7:54pm
Quoting Dr.Scalpall
A good way to show your trades on charts is to simply go to the account history tab of the mt terminal window and drag whichever trade you wish to show onto the main chart window. everyone can then see your exact entry and exit.

regards

doc.
Great tip Mr Doc....very handy!
  • #893
  • Jun 17, 2010 9:17pm Jun 17, 2010 9:17pm
Of when NOT to trade...Lou I think this qualifies as a "Flat-liner"

Seriously! Stay Away!!
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  • #894
  • Jun 17, 2010 9:57pm Jun 17, 2010 9:57pm
Quoting Lou G
Source code for the indicators used in this method will be posted before my departure from the thread.

The mq4 file for ALF is already posted in the first ALF thread (as AdaptiveLaguerreFilter.mq4).

The mq4 file for Fractal_Candles_SR_v3 is at Post #1 of this thread.

I will post the code for ALF_Alert, IT_candles and Instant_Trendline over the weekend.
Thanks for sharing all your work. It has been very informative and encouraging.

MrSmith
Blessed is the man who finds wisdom...
  • #895
  • Jun 18, 2010 12:10am Jun 18, 2010 12:10am
Attached Image
  • #896
  • Jun 18, 2010 1:43am Jun 18, 2010 1:43am
Quoting bcarbon
Attachment
Can't do better then that, thanks Lou.

pbb
  • #897
  • Jun 18, 2010 4:24am Jun 18, 2010 4:24am
100% agree!

LouG, you and your ALF rock!!!!!
  • #898
  • Jun 18, 2010 5:20am Jun 18, 2010 5:20am
Hi Lou, what is the differnet between the said two? I post a chart which I took on just now and it end up hitting my sl. I just want to know am I right to take a long right after the white and green candle? Or am I not right? You have been a great help to us, please do not close down the shop. We need a place to share and ask if we are in doubt. Thank You Lou....
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  • #899
  • Jun 18, 2010 7:26am Jun 18, 2010 7:26am
My first +5 for this NY session.
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Make money Not pips
  • #900
  • Jun 18, 2010 8:27am Jun 18, 2010 8:27am
that this thread will never die. At least I for one will try not to let it happen. I know I haven't posted much in the 2 1/2 weeks its been alive, but I've been trying to put in as much screen time with this method to "own" it myself. To understand it more. And there will always be the newer ones that will enter and need some guidance. It would be nice to have the originator here to help, but Lou, thank you for what you've done for us to this point. We must spread our wings at some point and fly on our own and with your help many of us will succeed if we don't complicate the process. The method is sound, it's just our lack within that hurts us.

So if you must Lou, I bid you a very fond farewell. May you and your family have many blessings.....
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