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PM Forex Strategy

  • #521
  • Jul 8, 2010 4:26am Jul 8, 2010 4:26am
Hi, I am not sure what is wrong with my charts?

The RED (1440) is always on top of the GREEN (6)?
Attached Image (click to enlarge)
Click to Enlarge Name: forex.jpg Size: 101 KB
  • #522
  • Jul 8, 2010 4:49am Jul 8, 2010 4:49am
it coulod help if Indrek can share his template....

i am also having issues with ATR
  • #523
  • Edited 7:08am Jul 8, 2010 4:55am | Edited 7:08am
Did you guys fix the equal minimal and maximal values as explained in post 516?

iamnoel, there is something totally wrong with your indicator settings. No ATR of m5 timeframe can reach 1.00 as it seems to be on your picture.
NB! Both ATRs should have EQUAL minimal and maximal value.

Attached is a sample tpl to show how ATR is set. Sorry, I cannot share my trading template.
Attached File(s)
File Type: tpl sample atr.tpl   2 KB | 330 downloads
  • #524
  • Jul 8, 2010 7:34am Jul 8, 2010 7:34am
Quoting Indrek
Did you guys fix the equal minimal and maximal values as explained in post 516?

iamnoel, there is something totally wrong with your indicator settings. No ATR of m5 timeframe can reach 1.00 as it seems to be on your picture.
NB! Both ATRs should have EQUAL minimal and maximal value.

Attached is a sample tpl to show how ATR is set. Sorry, I cannot share my trading template.
i have downloaded this template, i dont see the atr lines !!! i have the indi #MTF_ATR in my indicator folder
Attached Image (click to enlarge)
Click to Enlarge Name: fokus11.gif Size: 20 KB
  • #525
  • Jul 8, 2010 7:36am Jul 8, 2010 7:36am
Quoting roundrock
i have downloaded this template, i dont see the atr lines !!! i have the indi #MTF_ATR in my indicator folder
My template was made for EY. If you use it for EU then you have to adjust the indicator settings (minimum and maximum value) accordingly because EU has more decimal places.

Guys, I do not offend anyone, but my suggestion is to learn the tools (MT4 tools, indicators) before even thinking about trading some system. It can be done on your own - just play with indicators and see what happens, plus read available sources in internet. After some months you will be ready for next step - using some very simplified system like a MA crossover.

Here is a sample tpl for eu.
Attached File(s)
File Type: tpl sample tpl eu.tpl   36 KB | 359 downloads
  • #526
  • Jul 8, 2010 7:44am Jul 8, 2010 7:44am
Quoting Indrek
Did you guys fix the equal minimal and maximal values as explained in post 516?

iamnoel, there is something totally wrong with your indicator settings. No ATR of m5 timeframe can reach 1.00 as it seems to be on your picture.
NB! Both ATRs should have EQUAL minimal and maximal value.

Attached is a sample tpl to show how ATR is set. Sorry, I cannot share my trading template.

Whoa, I lost the ATR?!?

Here's my setting ... I used it in GBPJPY pair.
Attached Image (click to enlarge)
Click to Enlarge Name: forex.jpg Size: 63 KB
  • #527
  • Jul 8, 2010 7:51am Jul 8, 2010 7:51am
Quoting iamnoel
Whoa, I lost the ATR?!?

Here's my setting ... I used it in GBPJPY pair.
Set it to 0.05 and 0.2, for example. The ATR of GY is often more than 0.1, so you have just hidden the lines
  • #528
  • Jul 8, 2010 7:54am Jul 8, 2010 7:54am
Thanks, it worked!

  • #529
  • Jul 8, 2010 9:19am Jul 8, 2010 9:19am
Hello everybody

I'd like to share my variation on the PM Forex Strategy, maybe someone will be intrested.
I use it on m5.
Trades are not opened at the open of third candle but when the price goes back to sma5, so it can happen at the third candle or later.
Long setup - NonLagMA in green, sma5 above NonLagMA.
Short setup - NonLagMA in red, sma5 under NonLagMA.

http://img203.imageshack.us/img203/6784/58394609.th.jpg
  • #530
  • Jul 9, 2010 2:50pm Jul 9, 2010 2:50pm
Quoting Edźwin
Hello everybody

I'd like to share my variation on the PM Forex Strategy, maybe someone will be intrested.
I use it on m5.
Trades are not opened at the open of third candle but when the price goes back to sma5, so it can happen at the third candle or later.
Long setup - NonLagMA in green, sma5 above NonLagMA.
Short setup - NonLagMA in red, sma5 under NonLagMA.

http://img203.imageshack.us/img203/6784/58394609.th.jpg
Hi Edzwin,

Sure...I think many would be interested in your strategy, including myself. Are you simply using a retrace to the SMA5 as a pullback to avoid a potential whipsaw, and then entering the trade whan price returns to the trend? Or is there more to it than than?

Have you compared this ploy to the default setup to determine if it is more profitable your way?

Thanks,
BC
  • #531
  • Edited 12:54am Jul 10, 2010 12:38am | Edited 12:54am
Quoting Edźwin
Hello everybody

I'd like to share my variation on the PM Forex Strategy, maybe someone will be intrested.
I use it on m5.
Trades are not opened at the open of third candle but when the price goes back to sma5, so it can happen at the third candle or later.
Long setup - NonLagMA in green, sma5 above NonLagMA.
Short setup - NonLagMA in red, sma5 under NonLagMA.

http://img203.imageshack.us/img203/6784/58394609.th.jpg
Edzwin... I took the liberty of using your picture to quickly illustrate how I make most of my best trades. What is great about this startegy is the that the trade usually goes positive immediately... which is really great for the trader's psyche. Also, you are getting in the trade earlier which allows you to use a tighter smaller stop loss.

As price goes up, draw a trend line going up underneath it. When price breaks the trend line, enter a sell trade.

As price goes down, follow it with a trend line down. When price breaks the trend line, exit your trade.
Attached Image (click to enlarge)
Click to Enlarge Name: enter and exit strategy in direction of the trend.jpg Size: 106 KB
  • #532
  • Jul 10, 2010 4:14am Jul 10, 2010 4:14am
Quoting Bobcat2
Hi Edzwin,

Sure...I think many would be interested in your strategy, including myself. Are you simply using a retrace to the SMA5 as a pullback to avoid a potential whipsaw, and then entering the trade whan price returns to the trend? Or is there more to it than than?

Have you compared this ploy to the default setup to determine if it is more profitable your way?

Thanks,
BC
I always wait for a retrace to the sma5. When market is ranging it allows me to restrict losses and SL can be smaller. From my overview in most cases we get better entry position.

Quoting mike22
Edzwin... I took the liberty of using your picture...
With drawing trendlines, there is always one problem for me, I see much more trendlines on this picture then you drew and most of them ends up with small pullback
  • #533
  • Edited 10:04am Jul 10, 2010 9:55am | Edited 10:04am
Hi, gspe. Thank you for these great MTF indicators.

Is it possible in 4BARS-MTF-NLMA 1.03 to allow the user to specify the four timeframes to be used, so that timeframes lower and higher than the chart timeframe can be shown?

Many thanks, if you can do it ......

Edit: Or, if that's too complicated, could you change it so that the two timeframes lower than the chart timeframe, and the next timeframe higher that the chart timeframe, will be shown?

Quoting gspe
Hi,
i've added the "Color Bar Back" parameter to both MTF indicators.
Hope this helps...
Please let me know

gspe
  • #534
  • Jul 11, 2010 11:35pm Jul 11, 2010 11:35pm
I need some advice on getting the two 4Bar indis onto my charts. Last week I succesfully loaded them into one of my practice accounts but today I have had no joy trying to get them onto one of the other accounts. I have tried copying them from post 1, also from the attachments files and from the practice account where they are working. They show up in the navigator but when I put them onto a chart no coloured squares appear.
  • #535
  • Jul 12, 2010 4:32am Jul 12, 2010 4:32am
I have now analyzed the behavior of MP and MTF version of the indicator to find out which is better.
My conclusion was:
1. MP is showing the real time situation that is valid during this candle and maybe after that. It is like trying to predict the future. We have more entries but also more false entries.
2. MTF is showing only the confirmed signals for higher timeframes. It means taking decisions on the basis of past information. We have less entries, which means avoiding more false ones but also missing some good ones.
The final comment is that MP is a tool for an aggressive and experienced trader and MTF should be preferred by a conservative one.
  • #536
  • Jul 12, 2010 5:03am Jul 12, 2010 5:03am
interesting system.

i'm not sure how i'm supposed to backtest this ea?
  • #537
  • Jul 12, 2010 5:06am Jul 12, 2010 5:06am
Have you got NonLagMA_v7.1 in your .../experts/indicator folder? (4Bar indis call this Indi.)

Quoting bobha
I need some advice on getting the two 4Bar indis onto my charts. Last week I succesfully loaded them into one of my practice accounts but today I have had no joy trying to get them onto one of the other accounts. I have tried copying them from post 1, also from the attachments files and from the practice account where they are working. They show up in the navigator but when I put them onto a chart no coloured squares appear.
  • #538
  • Jul 12, 2010 5:10am Jul 12, 2010 5:10am
Excellent, Indrek.

Very helpful to all of us. Thank you for your time/effort in analysing these two Indicators.

Quoting Indrek
I have now analyzed the behavior of MP and MTF version of the indicator to find out which is better.
My conclusion was:
1. MP is showing the real time situation that is valid during this candle and maybe after that. It is like trying to predict the future. We have more entries but also more false entries.
2. MTF is showing only the confirmed signals for higher timeframes. It means taking decisions on the basis of past information. We have less entries, which means avoiding more false ones but also missing some good ones.
The final comment...
  • #539
  • Jul 12, 2010 11:31am Jul 12, 2010 11:31am
Quoting Indrek
I have now analyzed the behavior of MP and MTF version of the indicator to find out which is better.
My conclusion was:
1. MP is showing the real time situation that is valid during this candle and maybe after that. It is like trying to predict the future. We have more entries but also more false entries.
2. MTF is showing only the confirmed signals for higher timeframes. It means taking decisions on the basis of past information. We have less entries, which means avoiding more false ones but also missing some good ones.
The final comment...
MTF gives me diffirent indications on the same time frame (m15), for example today since 7 o'clock on the first window I got 4 arrows down - 7.15, 8.00, 15.15, 17.15 (GMT + 2:00), on the second window I have 4 arrows (3 down, 1 up) - 8.00, 15.15, 16.00, 17.15, arrow from 15.15 dissapeared during 3 next candles, maybe someone knows, what's the cause?
  • #540
  • Edited 12:20pm Jul 12, 2010 12:08pm | Edited 12:20pm
Quoting Edźwin
MTF gives me diffirent indications on the same time frame (m15), for example today since 7 o'clock on the first window I got 4 arrows down - 7.15, 8.00, 15.15, 17.15 (GMT + 2:00), on the second window I have 4 arrows (3 down, 1 up) - 8.00, 15.15, 16.00, 17.15, arrow from 15.15 dissapeared during 3 next candles, maybe someone knows, what's the cause?
As it was discussed before, an MTF bar indicator, when used on m15 chart, can change 1 bar of m15, two bars of m30, four bars of h1 and 16 bars of h4 in real time. Naturally, the arrows appear and disappear when it happens.
It has no meaning for trading but makes backtesting impossible. If you want to backtest, use MP.
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