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EUR/GBP Trendmagic System

  • #4,721
  • Aug 5, 2010 12:19pm Aug 5, 2010 12:19pm
If the 1min generates 10 signals a day and the 5min 2 signals a day and you have limited time to trade the 1min will be best for you

With smaller moves can come more whip saw to try and counteract this I am looking at the MTF CCI this week on the 1min chart along side the 2 old reliable indicators the TM and the BBMACD

All Im doing here is looking at the 5min period 50 CCI but on a 1min chart..
If above 0.00 the option will be to take only longs if below 0.00 the option will be to take only shorts

Ive had a look this week and although it does obviously remove some winning signals it cuts down dramatically the losers in whip saw periods

here is a classic example

Point A is London open

Point B we get a short signal we ignore as 5min CCI above 0.00

Point C we get a long signal 5min CCI above 0.00 we can take

Point D we get a short sig we ignore as 5min CCI is above 0.00

Point E is another long if we missed the signal at C we can take this as the 5min CCI is above 0.00 and is another advantage of 1min trading..if your time is limit you may well get another signal

Its worth looking at and the CCI we use compliments TM which is in reality a CCI
Attached Image (click to enlarge)
Click to Enlarge Name: 1min with 5min cci.gif Size: 23 KB
Attached File(s)
File Type: mq4 #MTF_CCI.mq4   4 KB | 567 downloads
  • #4,722
  • Aug 5, 2010 12:56pm Aug 5, 2010 12:56pm
Here is an alternative indicator - MTF Supertrend (TM). With this one, you see also the color of TM on higher timeframes. And as it is on main chart, you also can trade the break of higher timeframe TM line.
Attached File(s)
File Type: mq4 SuperTrend nrp mtf.mq4   7 KB | 581 downloads
  • #4,723
  • Aug 5, 2010 1:24pm Aug 5, 2010 1:24pm
Quoting Indrek
Here is an alternative indicator - MTF Supertrend (TM). With this one, you see also the color of TM on higher timeframes. And as it is on main chart, you also can trade the break of higher timeframe TM line.
I have still got the Tudorgirl HG MTF on my chart and find it a useful indicator.

D
  • #4,724
  • Aug 5, 2010 2:09pm Aug 5, 2010 2:09pm
Quoting rossobonks
I have still got the Tudorgirl HG MTF on my chart and find it a useful indicator.

D
Whatever works for you is good. But there are better MTF bar indicators that do not repaint.
  • #4,725
  • Aug 5, 2010 3:35pm Aug 5, 2010 3:35pm
Quoting Paulus
there is a product for MT4 called magic lines once your SL is set you simple move it up and down with your mouse to the new position and the coding does the rest and alters you ticket

here is the link http://www.magiclinesforex.com/
No need to buy anything as all needed tools are available for free in internet. People who sell such stuff make easy money on selling air.
Attached is an EA that does the job.
Attached File(s)
File Type: mq4 visual order editor.mq4   12 KB | 577 downloads
  • #4,726
  • Aug 5, 2010 3:52pm Aug 5, 2010 3:52pm
Quoting Indrek
No need to buy anything as all needed tools are available for free in internet. People who sell such stuff make easy money on selling air.
Attached is an EA that does the job.
Indrek

Is this mq4 file an indicator or an EA (wondering which folder to pop it into)

Keith
  • #4,727
  • Aug 5, 2010 4:07pm Aug 5, 2010 4:07pm
EA
  • #4,728
  • Aug 6, 2010 12:04am Aug 6, 2010 12:04am
Hi all,

Can someone pls. make our life much easier by adding popup + sound alert to this great indicator ?

Alert is when all 4 timeframes (5M,15M,30M,60M) turn to the same color.

Also draw a red vertical line if possible.

I would greatly appreciate it.
Attached File(s)
File Type: mq4 HG_0001a_MTF.mq4   6 KB | 777 downloads
  • #4,729
  • Aug 6, 2010 3:06am Aug 6, 2010 3:06am
Quoting rossobonks
Nice Paul I will check that out.

1min chart for EU seems like the way to go for day trading. Not been trading today but just looking back over the EU chart and what a day it has been.

Ive stopped looking at any other chart now and just focus on EU which seems to trend reliably on the 1min.

For me I am paying the main emphasis on the BBMACD colour change rather than the TM.

Regards

Dave
Hi Dave keep us informed of how things go and what results you get thanks

Paulus
  • #4,730
  • Aug 6, 2010 3:08am Aug 6, 2010 3:08am
Quoting Indrek
No need to buy anything as all needed tools are available for free in internet. People who sell such stuff make easy money on selling air.
Attached is an EA that does the job.

Thanks Indrek really appreciate it

Paulus
  • #4,731
  • Aug 6, 2010 12:20pm Aug 6, 2010 12:20pm
5min signal today was great 114pips TM captured almost the whole move..

many many good opportunities on the 1min also today inc this 84 pips move

On the daily trade we will soon have another stop move up with current position netting 540 pips if we closed now
Attached Image (click to enlarge)
Click to Enlarge Name: 5min trade.gif Size: 22 KB


Attached Image (click to enlarge)
Click to Enlarge Name: daily update.gif Size: 27 KB

P
Attached Image (click to enlarge)
Click to Enlarge Name: 1min signal.gif Size: 23 KB
  • #4,732
  • Aug 7, 2010 12:39am Aug 7, 2010 12:39am
Hi Paulus
Tks for sharing .
1.If you don't mind , it will be great if you can show in your charts ALL the valid entries in the day , so we will have the real bottom line for any specific day .
I can probably see some other entries , but would like to learn from you if their were valid , if for some reason you have avoided/filtered them , and the reason .
The big runner... entry was about 5 min before news...
Is that a consideration for you ? Or you can say I will risk 25 pips to get , may be 100 pips , IF news will go in my favor .
2. I do not see in your M1 chart the MTF CCI Indicator .
Have you decided to remove it ?
3. I see that you use an EA ,Paulus v.1....can you pls tell us what this EA does ?
Tks and regards
David

Quoting Paulus
5min signal today was great 114pips TM captured almost the whole move..
Attached Image (click to enlarge)
Click to Enlarge Name: aug6 eu tm.png Size: 23 KB
  • #4,733
  • Aug 7, 2010 4:48am Aug 7, 2010 4:48am
Tks for sharing .

1.If you don't mind , it will be great if you can show in your charts ALL the valid entries in the day , so we will have the real bottom line for any specific day .

To show all valid entries of the day would take me so much time esp on the 1min the 5min time frame there will prob only be around 3-5 entries.The 1min around 15 plus even with the chart zoomed out as far as possible I would still have to stretch it over both my monitors to show it all and it would be very user friendly to look at on the forum I’m experimenting with trading times I always start at 8am UK but looking to shut down at around 5pm

The 5min chart for yest had only 3 signals –4-2+114 for a gain of 108pips
The 1min chart had 14 for a gain of 85 pips
The 1min filtered with the 5min CCI had 7 signals for a gain of 97 pips

I can probably see some other entries , but would like to learn from you if their were valid , if for some reason you have avoided/filtered them , and the reason

No CONFIRMED filter as yet.. all though Im always looking …just valid entries the aim on the 1min is to perhaps suffer the little whip saws when they appears but lock in bigger profits when the market moves so giving a gain over all

The big runner... entry was about 5 min before news...
Is that a consideration for you ? Or you can say I will risk 25 pips to get , may be 100 pips , IF news will go in my favour .

I tend to ignore news ,,the TM is often flat as news approaches so when news triggers a trade the TM reacts quick quickly and gets you in on the right side. Because we use a sliding stop im not concerned about fixed SL or tgts..the sliding stop is there to protect your position

If Im already in a position and news breaks out I may bring my SL to break even if its possible

2. I do not see in your M1 chart the MTF CCI Indicator.
Have you decided to remove it ?..

No but for posting charts until some thing is implemented I want to keep it clean as possible. it will only confuse and give rise to questions on a subject that may be dropped

3. I see that you use an EA ,Paulus v.1....can you pls tell us what this EA does ?

The EA is being written and developed for this system and is under evaluation and trial..it is not a working copy as there are several stages and test to be carried out

Cheers

Paulus
Attached Image (click to enlarge)
Click to Enlarge Name: 1min all.jpg Size: 52 KB
  • #4,734
  • Aug 7, 2010 5:03am Aug 7, 2010 5:03am
Paulus
Tks for your prompt and professional answer ...
If you are ready to do so , I think that showing the 3-4 entries per day on the M5 , is more than enough.
Tks and have a nice weekend
David

Quoting Paulus
To show all valid entries of the day would take me so much time esp on the 1min
The 5min chart for yest had only 3 signals –4-2+114 for a gain of 108pips
Paulus
  • #4,735
  • Aug 7, 2010 5:32am Aug 7, 2010 5:32am
We now need the TM to go red then blue again as long as the BBMACD is blue we enter

P
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 23 KB
  • #4,736
  • Aug 7, 2010 5:34am Aug 7, 2010 5:34am
when we gut the next up move we will move the stop to 'A' as per the rules concerning the sliding stop and TM
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 26 KB
  • #4,737
  • Aug 7, 2010 6:20am Aug 7, 2010 6:20am
Quoting Paulus
We now need the TM to go red then blue again as long as the BBMACD is blue we enter

P
How do you determine SL in cases like this? If usual rule is previous horizontal level of TM then here previous level was higher, so...? Swing low?
  • #4,738
  • Aug 7, 2010 7:19am Aug 7, 2010 7:19am
Hi Paulus,
Thank you for your thread and sharing the indicators. I am interested in learning more about these indicators so that I can trade EUR/GBP and EUR/USD on daily charts.

The problem is I am new to MT4. I have downloaded all files (HG_0001a_MTF.ex4, TudorGirl_Vorticity_2 (2).ex4 , tm4 with hv.tpl, Trend Magic.ex4, Clock_v1_3.mq4 ) and don’t know what to do with them.

Are they all the filles I need? Which folders should I save them in? Hope you have time to show me.

Thanks
  • #4,739
  • Aug 8, 2010 12:11am Aug 8, 2010 12:11am
Learn2b, I'm not Paul but you will find all the relevant information about how to use MT4 in this thread: MT4 navigational tips and techniques. Hanover has been very generous with this time and knowledge and it's all easy to understand.

To install the indis that you have save them in the indicators folder. The path should look like this: Metatrader->experts->indicators
Once they're all there, restart your MT4 and they should be visible in the custom indicators menu.
For templates (you will recognize them by their filename extension, which is .tpl), you need to follow this path: metatrader->templates

Your Metatrader should be installed under Program Files. If you have a newer version of Windows (starting from Vista), the files could be located at C:UsersyourPCnameAppDataLocalVirtualStoreProgram FilesMetaTrader4
If you don't risk, you don't ever have to lose.
  • #4,740
  • Aug 8, 2010 12:19am Aug 8, 2010 12:19am
Paul,
I don't understand why you are using the MTF CCI indicator. Like all other MTF indicators, it has an inherent lag in it. MTF indicators are not bad by definition, but I find it a bit difficult to understand why you don't want to use a simple moving average, because when it comes down to it, that's all there is to it (by it I mean the CCI). The CCI zero line shows whether the price is above or below a simple moving average of any given period. Ergo, it would make sense to use a 250 SMA (5*50=250) because a) it doesn't lag b) more space for price.
If you don't risk, you don't ever have to lose.
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