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EUR/GBP Trendmagic System

  • #4,741
  • Aug 8, 2010 5:00am Aug 8, 2010 5:00am
Quoting Indrek
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?
Yes new signals always take the swing hi or lo as there 1st initial SL position

Paulus
  • #4,742
  • Aug 8, 2010 5:17am Aug 8, 2010 5:17am
Quoting bug
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...
Hi Bug

Im just trying to keep things in symmetry ie the system is based on CCI and macd so trying to just keep to that combination...I totally understand what you are saying with the MLT argument you have to wait for the 15min mlt bar to finish to get a true representation of what is happening

On the chart I have placed your 250sma and a 250 CCI 50 ( TM) x 5 ( 5min)
Ive drawn lines to show when the MLT CCI goes above and below thye zero line... and your right when the TM is above the 250sma it almost matches the CCI MLT ..so does the CCI so it looks like we can do away with the MLT CCI

I will keep both the ma and the 1min CCI (50x5= 250 setting ) on my chart and look at it next week...it may well be that i remove both as nothing is fixed yet..

Thanks for pointing it out and helping out earlier

cheers

Paulus
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  • #4,743
  • Aug 8, 2010 5:28am Aug 8, 2010 5:28am
Quoting Learn2b
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
Learn 2b

If your trying to replicate trades and signal that I use you need the BB MACD and the Trend Magic all the other indis came about in the search and advancement of the system..but as Bug quite rightly points out indicators that look at a 5min min chart when applied on a 1min chart for example do have inherent lag...People here are using those indicators its what you feel safe and comfortable with... and we never stop learning or appreciating other peoples views ..hence my submission to bugs post re the CCI MLT ( Multy time frame)

I like the BB MACD and the TM because it is clear and concise and a 'third' indicator to avoid some false signal was only being looked at for the 1min time frame as it effected by whip saws that the 5min absorbs and doesn't show to the same extent.

The 1min can provide more action and more signals and so gives people with just a small trading window in the day a chance to grab some pips

I have inc the BB MACD and TM here on this post

Cheers
Paulus
Attached File(s)
File Type: mq4 Trend Magic.mq4   2 KB | 771 downloads
File Type: mq4 BB_MACD_CCT.mq4   4 KB | 784 downloads
  • #4,744
  • Aug 8, 2010 6:09am Aug 8, 2010 6:09am
Hi Paul,

I took another look at the 250 SMA while keeping in mind your reason for using it. I admit that I haven't tested this live, but having taken a look at the charts, I would say that 250 is way too slow to work as an effective tool in filtering you out of false signals while you are trading the 1 minute chart. Now, I didn't just come here to send you back to the drawing board. I actually have something that is ready to use. Before telling you what it is, let me just mention that it is an integral part of a M1 system that I've been trading over the last two weeks. It has served my very well during that time. The indicator is the 100 period SMA. Put it on your M1 chart next to the CCI 250 or 250 SMA (whichever you prefer) and you'll see what I mean. Keep in mind that this can only be used to filter trades, nothing more, nothing less. There are only two things to keep in mind while using this:
a) is the price above or below the SMA?
b) what does the slope look like? if it's flatlining, then it's a no fly zone (have a look at the Asian session SMA and you'll see exactly what I mean)

Cheers
Chris
If you don't risk, you don't ever have to lose.
  • #4,745
  • Aug 8, 2010 6:33am Aug 8, 2010 6:33am
Here are three examples of filtering with 100 SMA contra 250 SMA. The 100 is in black and the 250 comes in violet. I plotted them on different charts to avoid confusion. The examples are for EURUSD from the previous three trading days. Six chart all in all.
Attached File(s)
File Type: zip 100 contra 250.zip   129 KB | 734 downloads
If you don't risk, you don't ever have to lose.
  • #4,746
  • Aug 8, 2010 7:01am Aug 8, 2010 7:01am
Paulus
Can you pls take a look at my chart ?
I am getting different results than you.
Tks again
David

Quoting Paulus
The 5min chart for yest had only 3 signals –4-2+114 for a gain of 108pips
Paulus
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  • #4,747
  • Aug 8, 2010 8:48am Aug 8, 2010 8:48am
hi david I missed a -9 on the 1st trade ..sorry

and yes no re entry in that period

ope that helps

Paulus
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  • #4,748
  • Aug 8, 2010 9:55am Aug 8, 2010 9:55am
Quoting Paulus
hi david I missed a -9 on the 1st trade ..sorry

and yes no re entry in that period

ope that helps

Paulus
It is quite obvious that only thing the system needs is some tool to estimate the momentum or/and volatility. Take trades only if market is alive and that's it.
  • #4,749
  • Aug 8, 2010 10:42am Aug 8, 2010 10:42am
Quoting Indrek
It is quite obvious that only thing the system needs is some tool to estimate the momentum or/and volatility. Take trades only if market is alive and that's it.
Hi Indrek

I know you are a fan of using ADR for this
On the five minute chart I usually just use the default setting 5 and 25
Do you recommend something different?


Keith
Attached File(s)
File Type: mq4 xADR_0.2.mq4   4 KB | 562 downloads
  • #4,750
  • Aug 8, 2010 10:50am Aug 8, 2010 10:50am
Quoting pgpb
Hi Indrek

I know you are a fan of using ADR for this
On the five minute chart I usually just use the default setting 5 and 25
Do you recommend something different?

Keith
It is matter of taste. I use 6 and 1440 - last 30 minutes versus one week.
  • #4,751
  • Aug 8, 2010 12:46pm Aug 8, 2010 12:46pm
Quoting Indrek
It is matter of taste. I use 6 and 1440 - last 30 minutes versus one week.

Gleneagles had a very good post about using ADR quite some time back on this thread: http://www.forexfactory.com/showpost...postcount=3403
  • #4,752
  • Aug 8, 2010 2:08pm Aug 8, 2010 2:08pm
Quoting Dewey McG
Gleneagles had a very good post about using ADR quite some time back on this thread: http://www.forexfactory.com/showpost...postcount=3403
Later he used 5 and 25 as much as I remember.
If you use 5/25 or 6/36 then it means that you see if volatility is growing or falling from its previous level.
If you compare a short period to sth like 1440 (a week) then you see if the volatility is above or under average.
So, these are just two different approaches.
My choice is 6/1440.
  • #4,753
  • Aug 8, 2010 5:10pm Aug 8, 2010 5:10pm
Hi everybody on this great thread,... on a 1M chart a setting of 250 is like looking at a 4H chart.. 240 minutes in 4 hours, and 100 is close to half that.. i use a 60 x 240 filter on a 1minute chart (1 hour and 4 hour)... cheers
  • #4,754
  • Aug 9, 2010 4:47pm Aug 9, 2010 4:47pm
5min today

3 signals -12+24+6

If you took the main swing high ( A) for the Stop on the 1st signals you would of got +22+6

Daily SL has been moved now that TM line is fixed SL moved up 300 pips totay giving us a guaranteed profit of 321 pips with pips profit if closed now at 520 pips

cheers

Paulus
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  • #4,755
  • Aug 9, 2010 6:15pm Aug 9, 2010 6:15pm
I've been following this thread since it's begining behind the seens and I really like the simplicity of this system. A very fine job to its creator. I would like to add a simple indicator which I found on another thread which seems to filter out ranging periods pretty well. It works like a traffic lite (red don't trade, yellow procede with caution and green trade in the direction of price action). Perhaps it may require some tweeks but I think with the standard settings it does a nice job. Best of luck to all and hope you find this useful.

Best Regards,

Mr. PIP
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Attached File(s)
File Type: ex4 FX Sniper's SideWinder Overlay.ex4   7 KB | 1,409 downloads
If you fail to plan, you plan to fail.
  • #4,756
  • Aug 10, 2010 12:07am Aug 10, 2010 12:07am
Thanks Pip

will look at later today out for most of morning

P
  • #4,757
  • Aug 10, 2010 5:47am Aug 10, 2010 5:47am
....i CAN'T post the multi-indicator(Trix +HA+more). You can download it for free from Stratman's site, his link is in the commercial forum


Cheers
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  • #4,758
  • Aug 11, 2010 2:35am Aug 11, 2010 2:35am
Yesterday was a slow but nice day for trading EU.
I have managed to make 2 trades on m5. The first trade was closed at BE. And the second one gave the result of approx. 50 pips
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Today Asian session was active and in the morning we can see continuation of downtrend. I started to watch charts at 5:00 gmt and saw a good opportunity for sell but did not take it because it is out of trading time. I hope to see more opportunities today.

Think Positive!
The Road appears under the steps of walking men...
  • #4,759
  • Aug 11, 2010 3:19am Aug 11, 2010 3:19am
I think the BB MACD indicator is excellent within this strategy. Its great at indicating trend change and when a trade entry is near.

I have asked before on this thread if anyone has a BB MACD alerter to notify when there is a colour change and we can then start watching for a trade entry. For me I find sitting watching a chart for more than a few hours too boring so I get distracted, do something else and then bam I miss my entry when the change does occur.

So if there is anyone out there who has got one or could add one into this great indicator I think it would be a great benefit for us all.

Regards
D
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  • #4,760
  • Aug 11, 2010 3:46am Aug 11, 2010 3:46am
Hi Soondoock
Great Trade
I am learning this method .
I have a question :
When price was at "a" ...the SL was not supposed to be at "b" level , not the current , but the previous horizontal TM line ?
Sometimes I feel we need to give PA some more space to develop...but we have rules ...
so I don't know what is the right option...
If the current horizontal line is level "0" , so instead of placing SL at "-1" level (previous horizontal line) , may be we should consider to place SL at "-2" , if the distance between "-1" to "-2" is not more than 5-10 pips ...
OR just to add 10 pips to the previous horizontal line ?
just a thought ...
Let's see what Paulus will say on that .
Tks
David

Quoting Soondoock
And the second one gave the result of approx. 50 pips
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