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Trade What You See - Almost Naked Trading

  • #1,641
  • Oct 18, 2010 3:56pm Oct 18, 2010 3:56pm
Quoting PurePrice
You can Edit your first post LG.
I think I did it! It is the link, but the EA can be downloaded from there.
  • #1,642
  • Oct 18, 2010 3:58pm Oct 18, 2010 3:58pm
Quoting lawgirl21
You are so right! I'm going to cross it off my scan list!
Instead of USDJPY, I normally look at either eurjpy or gbpjpy (not an absolute correlation between those pairs) BUT those two pairs tend to be alot more exciting than usdjpy.
  • #1,643
  • Oct 18, 2010 3:59pm Oct 18, 2010 3:59pm
Quoting lawgirl21
I think I did it! It is the link, but the EA can be downloaded from there.
  • #1,644
  • Oct 18, 2010 4:04pm Oct 18, 2010 4:04pm
Quoting lawgirl21
THE CHART LOVERS METHOD

I am starting this thread for those of us who love charts..watching them...studying them...analyzing them and of course, making money from them.

My system is simple. It is a basic trend following one using the weekly, daily and H4 charts. I have made a goodly amount of money using this system, although I cannot say that I "discovered" it.

I have traded forex for approximately 4 years, have lost more than a few thousand dollars, have responded to more than one $99 special...

hi lawgirl

i dont know what you mean by the rsi being between 4 and 6 etc ? how do you check that on the rsi ? the rsi only shows just below 50 on the first chart you gave. so where is 4 and 6 ?

also on the 2nd chart you gave, i cant see 3 taps, i only see 2 taps ?

after the 3rd tap do you enter trade after the candle closes or enter straightaway on 3rd tap ?

you say we need to seek confirmation from daily and weekly charts. but how ? what do we look for in those charts ?


say if the weekly shows short. and todays daily chart has just started, so how can you see if it is in agreement if the day isn't over and the daily candle not complete yet ? and on the 4 hr chart which candle do you look at to seek agreement, the latest candle or the candle before that ?

what tp / sl do u yourself normally use ?


regards
  • #1,645
  • Oct 18, 2010 4:06pm Oct 18, 2010 4:06pm
I am ever so pleased to see the Rsi trend ea proving useful. For sure, it is a boon to me.

This is just to remind everyone not to rely on it; it provides a good warning that a tradable trend might be in place but that is all. When it presents a trend signal, this still needs checking manually for accuracy.

lg's use of Rsi is a visual thingy. Visual thingies cannot be coded into ea's, so it has to have certain assumptions programmed into it. There are times when these will be false.

It is pretty good, but not perfect so bear this in mind.

  • #1,646
  • Oct 18, 2010 4:15pm Oct 18, 2010 4:15pm
Quoting SteveHopwood
I am ever so pleased to see the Rsi trend ea proving useful. For sure, it is a boon to me.

This is just to remind everyone not to rely on it; it provides a good warning that a tradable trend might be in place but that is all. When it presents a trend signal, this still needs checking manually for accuracy.

lg's use of Rsi is a visual thingy. Visual thingies cannot be coded into ea's, so it has to have certain assumptions programmed into it. There are times when these will be false.

It is pretty good, but not perfect so bear this in mind....
Thanks again for doing this Steve. I am enjoying it very much and like that the pairs can be grouped.. as in all USD pairs, all GBP pairs, etc. I like that especially because we can compare at a glance whether or not a particular currency is taking a beating, or giving a beating. I agree that direction still needs to be checked visually.
  • #1,647
  • Oct 18, 2010 4:26pm Oct 18, 2010 4:26pm
Quoting SteveHopwood
I am ever so pleased to see the Rsi trend ea proving useful. For sure, it is a boon to me.

This is just to remind everyone not to rely on it; it provides a good warning that a tradable trend might be in place but that is all. When it presents a trend signal, this still needs checking manually for accuracy.

lg's use of Rsi is a visual thingy. Visual thingies cannot be coded into ea's, so it has to have certain assumptions programmed into it. There are times when these will be false.

It is pretty good, but not perfect so bear this in mind.

Thank you SH for your great job.
Pleas may you add the Monthly period to your ea. Not for the trend-spotting decision process only for visual aid.
Thanks.
  • #1,648
  • Oct 18, 2010 4:35pm Oct 18, 2010 4:35pm
Quoting ofer e
Thank you SH for your great job.
Pleas may you add the Monthly period to your ea. Not for the trend-spotting decision process only for visual aid.
Thanks.

I recall LG saying that this method can be adapted to shorter TF ... is there a way to code the EA to work on 1H, 4H, and Daily frames, instead of (or in addition to) the 4H, D1 and W1? Can it be made flexible so that the trader can select either of those 2 setups?

MANY Thanks Steve and LG.
  • #1,649
  • Edited 7:15pm Oct 18, 2010 4:39pm | Edited 7:15pm
Is everyone still in AUD/USD after that drop (and what caused the drop??) I was in this long earlier in the day & still in, stop not hit.
******************* I'd rather make money than be right.
  • #1,650
  • Oct 18, 2010 4:56pm Oct 18, 2010 4:56pm
Summary of requests for Steve's ea:

Add more tf from M5 to Monthly, make it a choice in inputs
Option to make font larger
Any way it can read strength of individual pairs only?

Can you also make it tap-dance?
******************* I'd rather make money than be right.
  • #1,651
  • Oct 18, 2010 5:25pm Oct 18, 2010 5:25pm
Quoting whatfx
hi lawgirl
i dont know what you mean by the rsi being between 4 and 6 etc ? how do you check that on the rsi ? the rsi only shows just below 50 on the first chart you gave. so where is 4 and 6 ?
regards
whatfx...The 4 and 6 are the imaginary numerals on a clock face. The slope needs to be somewhere in between the 4 and 6 to be a strong down move, just a bit past the 3 but not yet pointing at the 4 would be considered a weak down. Just a bit on either side of the 3 or pointing right at the 3 would be considered neutral or flat.

The slope is the only thing this methodology takes into consideration, the RSI values are meaningless with this method. You could have two bars reading 97.5 or 12.25...either one would reflect a neutral reading as the slope would be horizontal, towards 3 if you will. If two consecitive bars have the same RSI value then the slope will be horizontal , regarless of what the value is.

Please look at the image.

Quoting 4xStar
Is everyone still in AUS/USD after that drop (and what caused the drop??) I was in this long earlier in the day & still in, stop not hit.
USD news...Treasury Sec Geithner Speaks
AUD news...Monetary Policy Meeting Minutes in a couple of hours.
Attached Image
Listen to the whispers.... You may learn something
  • #1,652
  • Oct 18, 2010 5:56pm Oct 18, 2010 5:56pm
Quoting Scrutch
whatfx...The 4 and 6 are the imaginary numerals on a clock face. The slope needs to be somewhere in between the 4 and 6 to be a strong down move, just a bit past the 3 but not yet pointing at the 4 would be considered a weak down. Just a bit on either side of the 3 or pointing right at the 3 would be considered neutral or flat.

The slope is the only thing this methodology takes into consideration, the RSI values are meaningless with this method. You could have two bars reading 97.5 or 12.25...either one would reflect a neutral reading as the slope...
Wow, that image is powerful! Thanks for answering, I just hadn't built up the strength for it yet.
  • #1,653
  • Oct 18, 2010 6:03pm Oct 18, 2010 6:03pm
Quoting lawgirl21
Wow, that image is powerful! Thanks for answering, I just hadn't built up the strength for it yet.
NaP...best get on the outside of a chocolate bar or two, it's just starting to warm up. Notice that when you reach a 100 pages there's a lot more questions that could have been easily answered if the poster had just read the thread.
Listen to the whispers.... You may learn something
  • #1,654
  • Oct 18, 2010 6:34pm Oct 18, 2010 6:34pm
Quoting SteveHopwood
The attached is an EA and so goes in your Expert Advisors folder.

It attempts to give an at-a-glance view of the trending status of the pairs you wish to trade. The 'Trend' col will show up/down if all three tf Rsi's are heading in the same direction. If not, it will show 'flat'.

There are a few things to consider:
[list=1][*]We are using Rsi in this system as a visual aid - the actual value has no significance. This cannot be coded, so a robot has to have set parameters to work within. LookBackCandles tells it how far back in time to...
Hi Steve,
would it be possible to release this EA as an indicator? I am already running an EA at the moment.
Thanks a lot
Trading Makes Money!
  • #1,655
  • Oct 18, 2010 6:54pm Oct 18, 2010 6:54pm
More and more to read every time I come to this thread.. LG it's really taking off

Missed out on two trades I was waiting for yesterday... I still havnt learnt my lesson! Must use limit orders!! Anyone take the following off of those channels (screenshots)?

Wont be looking for as many trades for the rest of the week (had a good day yesterday) so maybe a few small trades if I feel my bias and analysis are strong and I see the stars are lining up

In saying that the AUDCAD is up the top of a small 30pip range it's in at the moment. Will keep an eye out for a breakout
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  • #1,656
  • Oct 18, 2010 6:55pm Oct 18, 2010 6:55pm
In this trade long.
Attached Image (click to enlarge)
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  • #1,657
  • Oct 18, 2010 7:01pm Oct 18, 2010 7:01pm
Quoting pierre23
More and more to read every time I come to this thread.. LG it's really taking off

Missed out on two trades I was waiting for yesterday... I still havnt learnt my lesson! Must use limit orders!! Anyone take the following off of those channels (screenshots)?

Wont be looking for as many trades for the rest of the week (had a good day yesterday) so maybe a few small trades if I feel my bias and analysis are strong and I see the stars are lining up

In saying that the AUDCAD is up the top of a small 30pip range it's in at the moment. Will...
Met you goal in one trading day! That is wonderful. Now comes the really hard part..sitting on the sidelines for the rest of the week, but that is what you should do. I have learned this the hard way.
  • #1,658
  • Oct 18, 2010 7:05pm Oct 18, 2010 7:05pm
Quoting lawgirl21
Met you goal in one trading day! That is wonderful. Now comes the really hard part..sitting on the sidelines for the rest of the week, but that is what you should do. I have learned this the hard way.
It's true.. sitting on the sidelines is the hard part!
  • #1,659
  • Oct 18, 2010 8:21pm Oct 18, 2010 8:21pm
Looks like 1 HR 4 candle breakout
  • #1,660
  • Oct 18, 2010 9:01pm Oct 18, 2010 9:01pm
EURAUD in a nice consolidation zone, I took a long when it bounced of the support on h4. Now in the money...
Trading Makes Money!
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