I know, I have started a number of threads with different systems.
My trading has improved with each attempt and I am consistently profitable at present.
The open forum allowing feedback and input from traders is invaluable.
So, here we go again. Maybe we can take things to another level once again.
This is very neat and clean. Thanks to guernica for tip on the alf indi. I've never seen anything quite like it.
Previously I was relying on an ema channel, a 21 sma and an 8 ema to identify trends, entries and exits. Alf does away for the need for all of that, and gives more precise signals.
Originally this thread was started on systems, but I don't think it is quite ready yet. We'll call journals home for a while...
Feel free to post. Welcome input, feedback, comments....
This is not a scalping system, there is no reason that I see that someone couldn't adapt it for scalping, but I am looking for short, medium and long term positions.
I like to mark the main trend on the weekly chart so that it bleeds through to the day chart. I do this by finding where price action closes above alf for long or below alf for short and placing a color coded rectangle over the area, dark red for short and dark blue for long. This shows a color field on lower time frames.
There are two entry signals using alf and confirming with macd. I like to check out obv also just to make sure there is volume in the right direction. There is a 200ema on the template. I like to just keep an eye on it as it acts as strong s/r. If I look at lower time frames I look for proximity to the 200ema and also the Wood pivots, and other s/r. Just try to see if there are clues, maybe a pattern is developing, or a trendline is being tested. Whatever. But the main signal is alf/macd.
entries long:
1. in a blue field when pa closes above alf or has pulled back to alf and touched alf and then closed up and macd and signal line have crossed up. Obv confirms. (continuation)
2. in a red field if alf turns up and pa action closes above alf and macd
confirms. Obv confirms. (reversal)
exits long: (I open 2 positions)
in blue or red field
Initial stop on entry for both positions is just below alf or the previous candle so if that is too
much risk I might pass up entry for that trade.
1st position after 25 pips or more. stop for 2nd position placed b/e +
spread.
2nd position trailing stop follows alf - spread.
For short just the reverse of long...
That's pretty much it.
The 1st gif is a forward test of EU on the day chart on the simulator that shows how the trades look. The 2nd gif is the weekly chart with the alf crossings marked.
I have been trading micro with excellent results.
I don't know everything. Learning everyday. But this is the best yet. Let's see where it goes.
Not precise enough yet for an ea but it could be ready at some point if Taiyakixz is willing. I think the problems we ran into with bad signals during consolidations with the original Jivadragon may be absent or at least greatly minimized with alf. Time will tell. No stone unturned...
My trading has improved with each attempt and I am consistently profitable at present.
The open forum allowing feedback and input from traders is invaluable.
So, here we go again. Maybe we can take things to another level once again.
This is very neat and clean. Thanks to guernica for tip on the alf indi. I've never seen anything quite like it.
Previously I was relying on an ema channel, a 21 sma and an 8 ema to identify trends, entries and exits. Alf does away for the need for all of that, and gives more precise signals.
Originally this thread was started on systems, but I don't think it is quite ready yet. We'll call journals home for a while...
Feel free to post. Welcome input, feedback, comments....
This is not a scalping system, there is no reason that I see that someone couldn't adapt it for scalping, but I am looking for short, medium and long term positions.
I like to mark the main trend on the weekly chart so that it bleeds through to the day chart. I do this by finding where price action closes above alf for long or below alf for short and placing a color coded rectangle over the area, dark red for short and dark blue for long. This shows a color field on lower time frames.
There are two entry signals using alf and confirming with macd. I like to check out obv also just to make sure there is volume in the right direction. There is a 200ema on the template. I like to just keep an eye on it as it acts as strong s/r. If I look at lower time frames I look for proximity to the 200ema and also the Wood pivots, and other s/r. Just try to see if there are clues, maybe a pattern is developing, or a trendline is being tested. Whatever. But the main signal is alf/macd.
entries long:
1. in a blue field when pa closes above alf or has pulled back to alf and touched alf and then closed up and macd and signal line have crossed up. Obv confirms. (continuation)
2. in a red field if alf turns up and pa action closes above alf and macd
confirms. Obv confirms. (reversal)
exits long: (I open 2 positions)
in blue or red field
Initial stop on entry for both positions is just below alf or the previous candle so if that is too
much risk I might pass up entry for that trade.
1st position after 25 pips or more. stop for 2nd position placed b/e +
spread.
2nd position trailing stop follows alf - spread.
For short just the reverse of long...
That's pretty much it.
The 1st gif is a forward test of EU on the day chart on the simulator that shows how the trades look. The 2nd gif is the weekly chart with the alf crossings marked.
I have been trading micro with excellent results.
I don't know everything. Learning everyday. But this is the best yet. Let's see where it goes.
Not precise enough yet for an ea but it could be ready at some point if Taiyakixz is willing. I think the problems we ran into with bad signals during consolidations with the original Jivadragon may be absent or at least greatly minimized with alf. Time will tell. No stone unturned...
Attached File(s)
ALF.ex4
5 KB
|
223 downloads
MACD with crossingblack.ex4
4 KB
|
217 downloads
DailyWoodPivot.ex4
6 KB
|
207 downloads
Candle Time & Spread.ex4
4 KB
|
202 downloads
alf.tpl
5 KB
|
202 downloads