ALF revisited - simple, effective daytrading

It's about the same. You can use RSI, MACD, STOCH, TRIX or maybe any indi that goes up and down will do.....

RSI just my favorite.

Super stuff, Lou

Just read first 165 postings, and I will be trading tomorrow with ALF.

Per your request, I did vote a max score. This clearly deserves it!

Every success,

Forest

B:

I truly like this indicator. It really helps to point out divergence within a chart.

Question...I like to trade 5M. How do I get this indicator to work better on 5M with no lag?


thanks
jacob

I've been lurkimg around this forum for some time now , taking in some of NG's pearls, was aware of PP's for a long time but NG has put a new emphasis on them for me combined with ALF. Consequently this weeks total pips =105, Alpari live ac @ .01. Didn't trade today being NF, so have great hopes for next week.

Many thanks NiceGuy !

Ps Not to forget Lou as well for ALF

Sorry, but i have no answer for your question.
I don´t know how we can make it less lagging .....
For me into the M15 is it ok, but for the fast M5 it´s a problem ....

Best Regards
bretlee

i always lose too much money trading M15...hehe

First I want to thank you for Alf. Nice. In case anyone is interested. Referring back to post 1061 (pg.71) I've decided to update my trade. The thick red lines box out the original snap shot area . Now the reason the trade was short at that point is: Notice the new Thick Magenta lines coming in from past Price action. Some with the RAY option off. Anyway the point is the TREND CONTINUES. IT was a good entry point to short with a tight stop And made sense if you started watching that pair reasonably soon from that point in time ( Back test). Moving forward with Patience we see the upper t/l is broken and we are out of the short trade. At this point i start drawing another lower t/l. We get one pull back BUT our moving avg is still above the price so we wait. Then a thrust up giving us a reason to draw the upper t/l " HAVING TWO POINTS LONG AT THIS POINT thats what I do!! Then another trust down and a bounce SO i go long at the next candle open IF its green put my stop a few pips below the projected lower t/l ( always taking into consideration my spread). With that being said,,,,LOOK at the 3rd snapshot, notice that we have two points now and can draw a proper lower t/l So I draw it.
Working forward on the long. I try to keep it going until making sense of the pair at hand become some what confusing.( you know what that feels like ) At that point i may decide to stand aside until another opportunity clearly presents itself. Its a trading style i like to use. i trade longer t/F's normally. This is a way for me to cut the boredom down while trades are working in the mid to long t/F's. If this benefits someone Great if you have a way to improve it share it. If you like this and whant me to share more of these types of setups say so and i will when i can. Happy trading to all of you.

And remember Patience is a virtue and is HARD TO MASTER!! IN FOREX YOU MUST HAVE THIS MASTERED AS MUCH AS POSSIBLE Having Patience with others will earn you respect. Same thing with forex. The market rewards the patient.

This trade had green fractal candles on MTF on the correct side of the ALF. Broke through a triangle and a pivot. then I relaxed a bit as it just kept going and going. I kind of arbitrarily closed at 50. I like round numbers. Anyway it may keep going, or it may turn down again, but 50 pips is way more than enough for one day Thanks to Leo wherever you may be! Don't be a stranger in your own thread.

On this trade, all three TF had fractal candle price channel breaks. OSMA and TVI were in unison about the direction.

PS its getting rather lonely in here.

ya man, i also think so... why is it so lonely here.. have u all been making money using this system... currently i am using the following indicators

1) ALF
2) IT_Candles
3) ALF_Alert
4) Fractal Candles SR v3
5) QQE Alert MTF v5
6) RSI

i am using M5 TF... but i hardly trade due to busy schedule... anyone here?

i am using M5 TF... but i hardly trade due to busy schedule... anyone here?[/quote]

Hi

I keep checking the forum everyday so keep posting. I am using the second to the last template posted by pilotui and have a small live account I am trading it on. I have been using the M15 time frame and it seems to be working out OK. When I get some more time I will start posting my trades. I am on CDST so it makes it a little hard trying to trade the London session and also going to work at a day job. I am going to try and trade 2 times a week, maybe Tuesday and Wednesday early mornings and see how it works out. I had 2 short trades Monday morning, 1 winner on EU and one loser on GP, but the winner was 5 times the loser so all worked out.

Good Luck

The first entry short stopped out, but the second MTF entry was good for 50 pips.

I am lucky now in that I am spending a month in Asia so can trade London and NY! My luck geographically (and probably forexologically ) will run out when I go back to EST in the US. Then London is like 3 or 4AM!

This is a good system. I would like to see this thread continue even if it is just to help each other out.

Lou is probably cooking up ALF v3.0

A couple trades on the EU today.

Any chance you could share all your indi's and template that you are using in this post?

Cheers

Can you tell me please, how do you manage your trades ? Mean at what are based your exits ?

The template is a combination of what I got from this site and the DashBoard, which was purchased from pipware.com. The ^Pilotui_MY_STRENGTH_v1.0, which came with the zip file from post 449 on this forum I did have to modify to work with IBFX. Here is the template and the modified indicator if your using IBFX. Without the DashBoard though some of the things will be missing. I am also using the IT_Candles from this forum.

In the chart I posted I just waited for the candle to change color and if the price retraced 50% or more of the previous candle I got out.

Good Luck

Not getting any lines on the strengh indi, is it because the markt is close ?

It could be the way your broker list the pairs. With IBFX they are "EURUSDm", and other brokers are "EURUSD". If yours are listed differently than you will need to edit the mq4 file to make it work. I had to modify it to work with IBFX because of the "m" after the pair. The original file "^Pilotui_MY_STRENGTH_v1.0.ex4" wants them to be like "EURUSD". The one I enclosed "^Pilotui_MY_STRENGTH_v1.0m.ex4 has been modified to work with IBFX. They should show up as long as you have chart history and can see candles on your chart, mine are working .

On the bottom of your chart is a indicator which says "use with close of Alf Line". It looks like some version of an RSI indicator. When I downloaded your template and the indicators that indicator was not on the chart? Can you tell me where that came from?