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Nanningbob 4h trading system ver. 5.0

  • #161
  • Jul 26, 2010 7:41am Jul 26, 2010 7:41am
Quoting sfg7th
Hi Steve...Please tell me which MPTM indicator/EA to use and the proper settings...The ones I had attached to my chart kept closing out the trades (.01 lots) at .10/.12 cents (couple pips)

Thanks in advance
Check out Steve's tail for mptm.
  • #162
  • Jul 26, 2010 8:55am Jul 26, 2010 8:55am
Quoting sfg7th
Hi Steve...Please tell me which MPTM indicator/EA to use and the proper settings...The ones I had attached to my chart kept closing out the trades (.01 lots) at .10/.12 cents (couple pips)

Thanks in advance
If you have a 5 digit broker you need to add a digit place in the settings so 10 in a 4 digit broker needs to be 100 with a five digit broker.
  • #163
  • Jul 26, 2010 12:43pm Jul 26, 2010 12:43pm
Quoting nanningbob
I put a check mark where the #3 would have entered and you would already see a profit. If price continues down, you have a very very good trade here.
Quoting nanningbob
IN DEVELOPMENT
My #4 EA (second pic) will be posted soon for trades like this. It will enter off of the BB or the crossing of the 3MA so either way you will be in. You dont want to miss trades like this. The second pic is the new EA I am testing. It will enter off of the white BB or the yellow 3MA. I want to make sure I dont miss this trade and I want either entrance.


Hey Bob, appreciate your time for replying me i get the picture now , and also i totally felt your work(together with steve and swingman) was totally GENIUS. Your 4th EA sounds great but seems riskier compared to EA 3 correct me if Í'm wrong. EA #4 supposely would enter trade earlier than EA #3. And Í've been trying for a few days and i felt it's profitable for multi level trading and not so much for people who place a stop loss. Tried with 2 different accounts. Anyway Thumbs up and thanks for you for sharing such great stuff out here.

Cheers,
Domanic.
  • #164
  • Jul 26, 2010 2:58pm Jul 26, 2010 2:58pm
Quoting sfg7th
Hi Steve...Please tell me which MPTM indicator/EA to use and the proper settings...The ones I had attached to my chart kept closing out the trades (.01 lots) at .10/.12 cents (couple pips)

Thanks in advance
Unsurprisingly, I am using the latest version uploaded to my mptm thread.

No idea what the versions in Bob's zip do or how he has modified them to work.

mptm is quite some piece of software and there is no substitute for knowing how to use it.

  • #165
  • Jul 26, 2010 3:30pm Jul 26, 2010 3:30pm
Quoting Toothman
Since Bob's brought up divergence, wouldn't it be a nice addition to this strategy to come up with a #5 EA( I know #4 is being tested) that would trade when divergence is spotted. I'm a true believer in RSI divergence...
Thank you very much for very useful tips on divergence. I am still trying to get the hang of the art of divergence trading which can be a very potent tool in trading. Since Bob says you are the master in this field and he learned divergence from you, I am going through your old posts to find out as much as I can (I suppose with everything else, practice makes perfect).

In the meantime I found these indicators very useful in identifying and learning RSX (a variation of rsi) divergence http://www.forexfactory.com/showpost...stcount=175863 .

Kind Regards
  • #166
  • Jul 26, 2010 4:24pm Jul 26, 2010 4:24pm
Quoting astral77
Thank you very much for very useful tips on divergence. I am still trying to get the hang of the art of divergence trading which can be a very potent tool in trading. Since Bob says you are the master in this field and he learned divergence from you, I am going through your old posts to find out as much as I can (I suppose with everything else, practice makes perfect).

In the meantime I found these indicators very useful in identifying and learning RSX (a variation of rsi) divergence...
astral 77,
Your quite welcome. Thought I'd take Bob up on posting some divergence trade setups. Here's one for today on the NZD/JPY.
RWB at extreme - check
Price is in top 1/3 of chart - check
Higher high in price with a lower high in RSI value - check
Confirmation candle is red and has no long wick on bottom of candle - check
RSI value is lower than previous candle - check
If at the close of the existing candle( in less than an hour) it's still red without a long wick on the bottom and RSI value is lower than previous candle, I would take this trade and go for 50 pips. When Steve comes up with the code we could turn the EA on at the end of the next to last candle on this chart and EA would decide if the next candle qualifies as a confirmation candle. A little tip to help you see divergence easier is to have RSI applied to high on your chart and under that RSI applied to low. So when price is setting new highs look at applied to high and when price is setting new lows look at the applied to low indicator. This way the peaks and valleys between price and RSI will always line up.
Attached Image (click to enlarge)
Click to Enlarge Name: d2.gif Size: 20 KB
  • #167
  • Jul 26, 2010 4:27pm Jul 26, 2010 4:27pm
Here the original version for MACD divergence:
.
Attached Image (click to enlarge)
Click to Enlarge Name: macd-divergence.gif Size: 19 KB
Attached File(s)
File Type: mq4 FX5_MACD_Divergence_V1.0.mq4   12 KB | 590 downloads
  • #168
  • Jul 26, 2010 4:28pm Jul 26, 2010 4:28pm
Euro story over the weekend was a dud so here we go. Looks like last Monday all over again. Hit some trades got a little DD now Tues is here. Last Tues was a very nice day. Can we do it again???
RESULTS
eur/jpy +47
gbp/jpy +40
Sells
eur/chf #1 not entered
gbp/cad #1 not entered
gbp/chf I had the wrong EA on so did not enter have #1 now. If you used #2 you would have had a nice small trade.
gbp/jpy #3 on after my profit nice bulge here.
Buys
gbp/aud #1
usd/cad #1
usd/jpy #1
STILL IN
aud/cad -46
aud/chf -90
aud/jpy -8
aud/usd -128
eur/jpy 0
eur/usd -75
gbp/usd -76
nzd/cad, -50
nzd/jpy, -86
nzd/usd -98
TRADES NOT TAKEN YESTERDAY THE EA WAS NOT HIT
Sells

Buys

TOTALS
total for day +87
for the week +87
for the month +1244
Carry over -657

I will divide currency pairs into four major groups based on their percentage of times they will move over 300 pips in one week. Here are the 4 groups:

1.VERY VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 75% OF THE TIME.
a. GBP/NZD, EUR/NZD, GBP/AUD, GBP/CAD, GBP/JPY
b. This group if you trade them you will want to use a reentery of 250 pips plus. This will be explained later in the 2.4.2 recovery system.
2.VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 50% OF THE TIME
a.GBP/CHF, CAD/JPY, EUR/CAD, EUR/AUD, USD/CHF, GBP/USD, EUR/JPY
b. This group if you trade them you will want to use a reentery of 200 pips.
3.MEDIUM VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 25% OF THE TIME.
a. NZD/JPY, AUD/CHF, AUD/JPY, USD/JPY, EUR/USD, NZD/CHF, CAD/CHF,
b. This group if you trade them you will want to use a reentry of 150-200 pips.
4. LOW VOLATILITY GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK LESS THAN 25% OF THE TIME.
a. AUD/NZD, NZD/USD, CHF/JPY, AUD/CAD, USD/CAD, NZD/CAD, AUD/USD, EUR/CHF, EUR/GBP
b.This group if you trade them you will want to use a reentry of 150+[/quote]
  • #169
  • Jul 26, 2010 4:30pm Jul 26, 2010 4:30pm
Here is a gbp/jpy after yesterdays profit. I have the #3 bulge EA on looking for another trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy #3.gif Size: 31 KB
  • #170
  • Jul 26, 2010 4:38pm Jul 26, 2010 4:38pm
Here is my level 2 nzd usd trade coming up. I am using the #4 EA which is posted below. If it goes up and hits the BB line it enters, if it breaks the yellow 3MA line it enters. If it continues running up inside the BB band it does nothing. I created #4 for these kind of runs. Doesnt hit the #1 but we still want in somehow. #4 is for inside the BB run up/down. I attach them here for you use and then I will put them on the front page after another day of testing but this is what I want to use #4 for. The yellow line is a 3MA shfit 1 Median LWMA.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd level 2.gif Size: 25 KB
Attached File(s)
File Type: mq4 #4 SELL 25 BB or 1x3.mq4   23 KB | 426 downloads
File Type: mq4 #4 BUY 25 BB or 1x3.mq4   23 KB | 412 downloads
  • #171
  • Jul 26, 2010 4:42pm Jul 26, 2010 4:42pm
Here is a USD/CAD buy.
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad buy.gif Size: 44 KB
  • #172
  • Jul 26, 2010 4:44pm Jul 26, 2010 4:44pm
here is a usd chf do not touch. The red line is high on the chart but everything else qualifies for a #1 buy. I am not touching it because the read is all wrong with the RWB. It is telling me something is not right here.
Attached Image (click to enlarge)
Click to Enlarge Name: usd chf no touch.gif Size: 32 KB
  • #173
  • Jul 26, 2010 4:53pm Jul 26, 2010 4:53pm
Sometimes you come back the next day and see a trade you think it should have entered. Here is the gbp/cad and you wonder why the #1 did not. I saw this trade yesterday and when the high was there it was just below the upper BB band line. The BB line was angling up. When price moved down the BB band moved down. It looks like it did but in real time the BB was just above the price so it did not enter at the time. As price moved down the BB slid back down to its final resting spot. The #4 EA is for moments like this when you think, I want in this trade so if the #1 doesnt get me in the 3 MA line cross will. I did not use the #4 at the time because I was still below the gold line but if I had been above the gold line I would have.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad did not enter.gif Size: 35 KB
  • #174
  • Jul 26, 2010 5:09pm Jul 26, 2010 5:09pm
Steve..thanks for the reply, I think I need to clarify my question..
I have the following indicators loaded;;MPTM BE 6x6 20-10-j-30, MPTM bomb, MPTM breakeven, MPTM set SL TP 4D,,where can I find explanations for use and setings??/
  • #175
  • Jul 26, 2010 5:14pm Jul 26, 2010 5:14pm
nzd jpy #4 did not take yesterday will take today. I also could have used the #3 too yesterday. However, I did not do it because it did not match my criteria of enogh pips distance for L2. You start entering too early and sooner or later you get a run going against you and you get into trouble. However, with the dynamic of the bulge. I will chance this one. See how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd ;jpy.gif Size: 39 KB
  • #176
  • Jul 26, 2010 5:20pm Jul 26, 2010 5:20pm
Quoting sfg7th
Steve..thanks for the reply, I think I need to clarify my question..
I have the following indicators loaded;;MPTM BE 6x6 20-10-j-30, MPTM bomb, MPTM breakeven, MPTM set SL TP 4D,,where can I find explanations for use and setings??/
Your usage is based on your desire to use them. In other words do I want to use the BE option or not? Do you want the MPTM to move up your SL? Some people do some dont. I used it all the time with the MA cross system but with the BB your entrance is usually a one shot deal and I dont want just a +10 profit. FXSol is a famous stop hunter broker so I dont move my SL up. It depends on you risk factor and broker if you use them or not. With FXSol I dont use them, with IBFX I do.
  • #177
  • Jul 27, 2010 2:00am Jul 27, 2010 2:00am
Attached are the updated versions of my simplified ea's, including #4. They all have a 'safety feature' that you can switch off if you do not want it - UseSafetyFeature.

It works like this:

 

  1. once the ea has pounced, it will switch itself off. I know of no way to permanently disable an ea once loaded. For example, after a platform restart, the robot will re-initialise itself and start working again, so:

    1. when you drag the ea onto a chart, it will prompt for confirmation that you wish to use it. This is annoying but cannot be avoided.
    2. if the robot was disabled because its job is done and then becomes re-enabled, it will prompt for the confirmation again. This will remind you that it is working again and needs removing.

Toothman, #7 now waits for the start of each new candle, then looks at the previous one to trigger a trade. It should work thus for a sell (so vice versa for a buy):

 

  1. the previous candle:

    1. should be a down
    2. should not be longer than MaximumCandleLength pips
    3. the lower wick should not be > AllowableWickPercentage
    4. Rsi should have fallen. This is the Rsi of the previous candle, but perhaps the ea should be looking at the current Rsi?

So:

 

  1. Is any of this incorrect?
  2. Have I missed anything out?
  3. What do you consider to be the maximum candle length?

Attached File(s)
File Type: zip Bob's ea's simplified by Steve Hopwood.zip   69 KB | 491 downloads
  • #178
  • Jul 27, 2010 2:33am Jul 27, 2010 2:33am
Swingman, Thanks for the indicator.

Bob,
Regarding the NZDUSD trade, when I see the price breaking through the gold line towards the BB I switch on the #1. Is this premature (in case of huggies or BB runs north)? Just to make sure the rule for the use of #4 is crystal clear for idiots like me, this is used when the price is at the top or bottom sixth of the screen, RWB condition is met, the price is between BB and 3MA. What is not 100% clear is what differentiates a #1 Ea and 4# trade.

Toothman,
Thanks for your instructions regarding rules for Divergence trade, I also notice you use the 8 period RSI rather than the default 14 period.

Kind Regards
P.S. It seems the Gods of Forex are not as kind as last week and we are on the way to practice L2 trades in the near future.
  • #179
  • Edited 3:16am Jul 27, 2010 2:59am | Edited 3:16am
Quoting astral77
Swingman, Thanks for the indicator.

Bob,
Regarding the NZDUSD trade, when I see the price breaking through the gold line towards the BB I switch on the #1. Is this premature (in case of huggies or BB runs north)? Just to make sure the rule for the use of #4 is crystal clear for idiots like me, this is used when the price is at the top or bottom sixth of the screen, RWB condition is met, the price is between BB and 3MA. What is not 100% clear is what differentiates a #1 Ea and 4# trade.

Toothman,
Thanks for your instructions regarding rules for...
1. You cant predict a huggie but once it appears you want separation before turning on the #2 EA. You want the 1MA to have some distance from the BB band. Doesnt need much but you want some. The #2 EA will not work (errrrrr is not suppose to work) if the 1MA is inside the BB. It must be outside the BB for the trade to work.
2. #4 has two EA commands.
A. the same as the #1 EA, hit the outside BB band
B. 2nd command is If price crosses the 3MA line it enters.
C. It only does one never both, so whatever meets the trade conditions first it does.
D. I designed for trades such as the NZD/USD you see now because the BB is probably going to bulge far enough away to never get hit by price action so you get a MA cross trade instead.
3. The AUD/CHF is making quite a run as the good ole CHF is dieing out there. However, instead of entering every 200 pips we reenter when price actually gives a reversal. I dont think price is going to catch the BB with the #1 EA so I am using the #4. If price does catch the BB band I will get a good 2L entrance. If not I get my 2nd L entrance on the way back down.

So far the #4 EA has not given me my 2nd L on any Aud trades so I am sitting good so far. The bigger the spread gets though I may increase the lot size.
  • #180
  • Jul 27, 2010 3:19am Jul 27, 2010 3:19am
P.S. It seems the Gods of Forex are not as kind as last week and we are on the way to practice L2 trades in the near future.

It looks like the Swissy is going to go for a long dive again. like in May. Dang thing. L2 did hit with the #4 so they are over 200 pips apart. So that is a good entrance.
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