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Part 2 EURUSD Trend magic System

  • #21
  • Aug 24, 2010 11:32am Aug 24, 2010 11:32am
Quoting goldsurfer
Ok, where is bug?
Paulus is that your way of saying that the MACD 144,233,21 is also the setting you have in your HG indicator as well as on BBMACD?
Anyone know what Trendgirl used in her multitimeframe HG version?
  • #22
  • Aug 24, 2010 11:46am Aug 24, 2010 11:46am
Quoting simpletrades
Paulus is that your way of saying that the MACD 144,233,21 is also the setting you have in your HG indicator as well as on BBMACD?
Anyone know what Trendgirl used in her multitimeframe HG version?

The original thread is actually fairly interesting and can match War and Peace in length. Lot's of good trade examples and even other systems spawned from it.

Read + screen time will tell you if this is a system you want to trade

Over and out
Cheers
  • #23
  • Aug 24, 2010 11:55am Aug 24, 2010 11:55am
Quoting goldsurfer
Ok, where is bug?
Summoned the sheriff you have. I shall have a look at yet another case of indicator madness.

EDIT.
While writing this reply, I decided not to post a reply to simpletrades right here, instead I decided to clear things using the PM - I don't want to discuss old indicators in this new thread.
If you don't risk, you don't ever have to lose.
  • #24
  • Aug 24, 2010 12:09pm Aug 24, 2010 12:09pm
Quoting bug
Summoned the sheriff you have. I shall have a look at yet another case of indicator madness.

EDIT.
While writing this reply, I decided not to post a reply to simpletrades right here, instead I decided to clear things using the PM - I don't want to discuss old indicators in this new thread.

Cheers man and hope all is well!
  • #25
  • Aug 24, 2010 1:06pm Aug 24, 2010 1:06pm
Quoting simpletrades
Thank you for the indicators. I posted a screenshot yesterday on the old thread and it had your HG, TudorGirl's HG and a BBMACD with your 144,233 settings. Scrolling on my charts I noticed color inconsistencies in TrendGirl's HG muti timeframe bars with the BBMACD TM combos and your HG and assume it is because the MACD settings built into both HG versions (the ones in the old thread at posts 81 and 172) may not match the BBMACD which is adjustable or eachother. I read and understand why Trendgirl wont expose her code, but could both of you at least...
When it download as *.php then just rename it to what ever the indi is called and put ex4 or mq4 in the end (indiname.ex4).
Some indicators are compiled and can not be opened by mql editor, only indicator that end with mq4 and be opened with editor.

Hope it helps

Regards

Kristjan
  • #26
  • Aug 24, 2010 2:56pm Aug 24, 2010 2:56pm
Quoting Paulus
Details of Stop placement and movement, please read this in conjunction with the chart posted...
You enter at the close of the entry candles listed as A? Or open?
  • #27
  • Aug 25, 2010 9:32am Aug 25, 2010 9:32am
Quoting Paulus
Details of Stop placement and movement, please read this in conjunction with the chart posted...
I love systems where there is a magic line to guide which direction to trade . I have a question about SLs though. Initial stop is clear. My question is about the subsequent stops. It looks from the example chart of the short trade that the stop is moved when TM trends downward 2 times. Then the stop is moved not to the most recent higher plateau but the plateau above that one. Am I reading this correctly?
Attached Image
  • #28
  • Aug 25, 2010 11:09am Aug 25, 2010 11:09am
HiPaulhus. Glad to see you back. Is it okay to trade if the trend magic changes colors before the MACD???
  • #29
  • Aug 25, 2010 11:59am Aug 25, 2010 11:59am
Quoting evynsdad
Am I reading this correctly?
No.. G is the spot (pun intended) where that particular trade would have been stopped out. The stop is always adjusted to the previous horizontal line, which means that if you are watching a live screen and TM goes flat for some time, you adjust the SL to the previous horizontal line*. I prefer to use swing highs/lows, but that's just because I've had so much screen time that it has become easy for me.

*If you are using MT4, always remember to take into account the spread when adjusting SL levels because MT4 displays bid charts. You don't want to get taken out and then watch the price head in the direction of your trade just because you weren't adjusting for spread.
If you don't risk, you don't ever have to lose.
  • #30
  • Aug 25, 2010 12:07pm Aug 25, 2010 12:07pm
Quoting evynsdad
I love systems where there is a magic line to guide which direction to trade . I have a question about SLs though. Initial stop is clear. My question is about the subsequent stops. It looks from the example chart of the short trade that the stop is moved when TM trends downward 2 times. Then the stop is moved not to the most recent higher plateau but the plateau above that one. Am I reading this correctly?

evynsdad, is that little red arrow an indicator that tells you when trendmagic changes color?
where do I get such an indicator/alert?

PGPB
Attached Image
  • #31
  • Aug 25, 2010 12:12pm Aug 25, 2010 12:12pm
Quoting bug
No.. G is the spot (pun intended) where that particular trade would have been stopped out.

always remember to take into account the spread .
Stop on the G spot and never take my eye off the spread... got it. Thanks for clearing that up, bug. I learn so much here.
  • #32
  • Aug 25, 2010 12:17pm Aug 25, 2010 12:17pm
Quoting pgpb
evynsdad, is that little red arrow an indicator that tells you when trendmagic changes color?
where do I get such an indicator/alert?

PGPB
I think the arrow was added manually by Paulus to show the entry on the chart he posted. I don't think there is such an alert in any of the indicators in the template. I just loaded everything up this morning, though. So if I'm wrong and there is an arrow alert I'm sure one of the traders who have been using this system longer will correct me.
  • #33
  • Aug 25, 2010 1:40pm Aug 25, 2010 1:40pm
Quoting evynsdad
I think the arrow was added manually by Paulus to show the entry on the chart he posted. I don't think there is such an alert in any of the indicators in the template. I just loaded everything up this morning, though. So if I'm wrong and there is an arrow alert I'm sure one of the traders who have been using this system longer will correct me.
I have an indicator that puts an arrow when the MACD crosses its Signal line, but it is MACD only no BB so it may not be useful here.

Also there are several versions of MACDBB. The old thread had the snakelike MACD dots and the BB lines showing. The pictures earlier here didnt.
I was going to add that if you have the snaklelike dot version, colorchange on the 144-233-21 isnt enough, you need to see the snake move inwards across the Bollinger Band it had been riding or at least straddle it before considering an entry. A little earlier I took a GBPUSD 5 min short trade when the color changed to match TM from a bar or two earlier, but stayed above the upper band and I got stopped out. It was a demo so I dont really care, but looking at other moves I realized it needs to move across the band. I think.
  • #34
  • Aug 25, 2010 3:03pm Aug 25, 2010 3:03pm
Quoting pgpb
evynsdad, is that little red arrow an indicator that tells you when trendmagic changes color?
where do I get such an indicator/alert?

PGPB
This Indy will give an alert when it changes. It has a neutral color, so you can get an alert without the TM/Supertrend line on your chart changing.


http://www.forexfactory.com/showpost...postcount=4869



Note this is not included in Paulus current setup listed page1



cheers
  • #35
  • Aug 26, 2010 1:43am Aug 26, 2010 1:43am
Just a note of caution for anybody who is planning to testdrive or trade (live) this system today or tomorrow on a low timeframe such as M5: the markets are not really in a 'giving' mode right now as they are waiting for figures from the US and UK. Both nations will publish their revised GDP estimates for the second quarter tomorrow. There's been a deluge of bad economic data from the US, but recent high impact news have been unable to rock the boat on either side.

This means that GU, EU and UJ are all moving pretty much sideways until the second estimates of GDP figures have been released. I personally have already reached my weekly goal so I'm keeping out of the market, but if you really feel like you should use every opportunity to test this system, then I suggest to test M1. In current market conditions, with swings between the upper and lower R&S bands, M1 is the only viable TF. So, either wait for normalization or keep out.
If you don't risk, you don't ever have to lose.
  • #36
  • Edited 6:37am Aug 26, 2010 4:10am | Edited 6:37am
Quoting bug
No.. G is the spot (pun intended) where that particular trade would have been stopped out. The stop is always adjusted to the previous horizontal line, which means that if you are watching a live screen and TM goes flat for some time, you adjust the SL to the previous horizontal line*. I prefer to use swing highs/lows, but that's just because I've had so much screen time that it has become easy for me.

*If you are using MT4, always remember to take into account the spread when adjusting SL levels because...
i always go to properties and check off to show the ask line too.
  • #37
  • Aug 26, 2010 10:23am Aug 26, 2010 10:23am
Quoting Paulus
The original thread http://www.forexfactory.com/showthread.php?t=165948
Grew to a size that made it very difficult for new people to gain an insight into the original system.
Thanks for starting a clean sheet, the thread needed it......
regards
Andy
  • #38
  • Aug 26, 2010 12:17pm Aug 26, 2010 12:17pm
Quoting simpletrades
i always go to properties and check off to show the ask line too.
That can certainly help but chart will still display the bid price, so you would still have to account for the spread when moving SL.
If you don't risk, you don't ever have to lose.
  • #39
  • Aug 26, 2010 2:47pm Aug 26, 2010 2:47pm
Quoting bug
That can certainly help but chart will still display the bid price, so you would still have to account for the spread when moving SL.
i know, until i learned that, i fired off some not so polite emails to the broker asking why my fill price was higher than the high of my entrybar and higher than the next one too.
  • #40
  • Aug 26, 2010 10:13pm Aug 26, 2010 10:13pm
Quoting simpletrades
i know, until i learned that, i fired off some not so polite emails to the broker asking why my fill price was higher than the high of my entrybar and higher than the next one too.
I'm sure your broker thought you were just another 'kid' losing your shirt. The sad thing is that brokers don't mention this to their clients before they start trading and we are supposed to figure this all out by ourselves (I generally don't have anything against them). Good to see that you've figured this out.
If you don't risk, you don't ever have to lose.
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