BOWALF - Breakout with ALF Filter

I think so.....I am using the buy and sell lines...

take a little buffer on London, none on Asian

wouldn't enter if opposed by both ALF lines

Am I missing something?

Hey Weasel
Good work there. I have been following mer's BO thread. It is a great system and with your filter I think it becomes even better as we can filter out bad trades and cut our losses small.

Thanks and keep it up.

MAK

I have a TVI candles. mq4 off the http://www.forexfactory.com/showthre...226154&page=52

I do believe that one can make the alteration in that, rename with a small alteration for ref.

On the other hand I may not know anything at all although I have altered colours and thiskness of lines before.

Hope that this helps

Hi FW, having posted the candles msg it occurs to me that I don't see anything about the size and colour settings.

...or is this something that needs to be addressed on the other thread?

For some reason, when I load TVI candles on the chart, its thin invisible black lines, I just reset that and it works fine.

I think 50 pips per session per pair on average is possible. EJ and GJ give more pips London, but a bit more heartstopping stopped out trades vs. Asian because the Asian box is small. I will probably try to trade the three pairs at Asian open for a while and post some charts here

I've gotten up to trade London a couple times but I'm a bit of a zombie the next day, since I'm on NY time.

I wanna be on Malaysian time like Phreddy and trade Asian for Breakfast and London for lunch!

You'll still get some bad trades some for minus 200 even with ALF exit, but go ahead and backtest July/August/Sept. like I did and you will probably feel pretty comfortable live trading it.

For me this system is something like this: lots of small small wins often less than 20 pips, couple of stop outs per month, but 2-3 x as many "caught the trend runners" as stop outs. The net is good....so far.

I will only re-enter once if I stop out then I give up for the session. If I win, even like 9 pips, I'm done too. That's how I've been trading/backtesting.

Is there a trade management EA that will let you set the 5 TP's with a jumping TSL for this system?

I have asked for that on another site

on Asian breakout, a lot of false breakouts could be avoided with just a 5 pip buffer from the buy sell lines.

Just backtested AJ this way for August and netted about 1000 pips including <3> pips per trade for spread with only one stop out. GU Asian also has a lot of false breaks by one or two pips so will have to go back and test that pair for the last three months.

This thread caught my eye so I threw it on demo and tried it out--not bad for a first test drive

I loaded everything on a different broker I use for live accounts (no plan on trading this way until I demo'ed for a while), but for some reason, it messes up the current day. Previous days are fine, but it doesn't start today's session at the correct time.

Any ideas what is wrong and how to fix this?

Hi Dewey, first thing, change time frame and come back.
MT4 often does strange things.
Second thing left click get up indicators and check settings.

Probably go right then!

I have been looking at the 10pip buffer idea - save getting into a false breakout.
Seemed a good idea on the face of it but then I thought "What about all the pips I will miss by waiting if it is not a false BO?"
10pip will save me 5xthe range but will cost me 50pips for every good breakout.
Do you have any data on this FW?

I have been thinking about my visual backtest and even though I have had some double failures I don't feel that the 10 pip buffer is worthwhile.

Just a thought ... more coming along!!

Hi Dewey, did you use the stop loss one TP back? I believe that it should be TP two back.

I wondered why our charts were so different we have different times so diff ranges

I have been using one TP back!

I used one level back, so when it hit TP2, I moved my stop loss to TP 1. It worked out anyway even if it was wrong.

FW, it would really help if you posted the times in GMT (or any time zone as long as you state what it is) so we can all make sure we are using the correct times for breakout, etc.

I also have a question about the MaxBoxSizeinPips for the Asian session. You have yours set at 100 pips. That seems high. IS it correct. The default on the indicator is 50.

As it happened it worked well for Dewey.

My apologies, could have sworn that it was two at the lower levels but one at the top after TP4 is won.

OK I will not post what a good idea I thought that was! Instead I will post it as my idea, particularly with the small ranges.

At the risk of being too meddlesome on FW's super thread, post #7 says: "The box times are set differently for each template obviously and my broker is +2. Please don't ask how to set them for your broker! I could barely figure it out for my own http://cdn.forexfactory.com/images/s...m/blushing.gif"

I do believe that my broker is +3.
My settings are 01:00 to 01:59 Broker time.
That is one hour later than my time (not in MY yet)
That is one hour earlier that UK time
That is one hour earlier than GMT
SO:Right now it is 19:30 here; Broker is 18:30; UK is 17:30; GMT is 16:30 and I do believe that FW is having lunch in US at 12:30 - Chestit obed - Have a nice lunch

On the subject of settings, it is most important that you select your own preferred.
For the Asian period there is a rather flat time either side of midnight, lasting a couple of hours on my charts. I use that. Now, swings and roundabouts will favour me sometimes and not othertimes as you will see from my chart pictured earlier. I do believe that Tokyo opens sometime around the later time. I am not concerned personally! Others may wish to take this into account.

Likewise (I believe) the Max/Min size of the boxes is for personal preference. I do not want a 100 range, it would have used up all the ADR.

As a generality all forex is somewhat a 'lucky dip'. All we do know is that the price will not stay where it is at 'X point in time'.
We choose a time and a range size by deciding how much time we will use. I use an hour. Used to be half an hour and still is for the various BOs I watch through the London session.
We don't know which side it will break so we use pending orders.

Forgive the lecture, I just like to ensure that people accept that it is their system and that nobody has the magic settings. We just like to offer a few pointers.

I hope that I got that all right FW!! ...and I hope that is useful to you Dewey

Yeh, that box size is way to big for Asian, I think I reset mine to 50. One of the beauties of Asian session is the much smaller stop loss should it be hit.

Check post 13, I have my box times there and my broker is +2 so adjust accordingly.

Once we get the system fine tuned for all these settings, I can make a PDF and attach it on post one. I always appreciate those instead of something like "read the entire thread" comments and its like 279 pages long.