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Nanningbob 4h trading system ver. 5.0

  • #2,961
  • Oct 18, 2010 11:13pm Oct 18, 2010 11:13pm
Anyone know of an Ea that will take snapshot of your screen the moment a trade is entered?
  • #2,962
  • Oct 18, 2010 11:25pm Oct 18, 2010 11:25pm
Quoting jtmoore007
Anyone know of an Ea that will take snapshot of your screen the moment a trade is entered?
Yes, "Print Screen" haha...

No, sorry, thought I would be smartie pants.
We are our own best indicator.
  • #2,963
  • Oct 18, 2010 11:41pm Oct 18, 2010 11:41pm
Quoting jtmoore007
No need thanks though. Yea I miss many setups for London considering it in middle of the night for me. I usually get up about an hour or two before US open and put eas on anything that's ready. If I go to bed really late I'll put eas on setups for London session and let the eas and mptm trade that session for me while I sleep. This 50:1 shit sucks!!!!! That's for sure!!!! Need to find a way around that.

Bob u gonna start fresh v 6.0 thread? Just curious.
I think I should but wanted to gather some more ideas before I put a final version together. I think the RSI filter really puts some polish on the system. Our friend from PA will love me for finally using his favorite indicator. The MPTM with the +5 was driving me nuts but now I will have rules as to when to use it and when not to. Obviously you dont use it with divergence trades but non divergence trades you would. So that one rule there will stop many trades from going negative, if they go to divergence first, but if they dont diverge you are still in the trade.


Later you pick up the divergence trade instead of a recovery system because you closed out at +5 earlier and now take the bigger move, ......... hopefully. So my thoughts on non divergence trades for now are: Use MPTM +5 at 15 or 20 and then a hard TP around 30-50. Divergence trades you use the 40 +30 MPTM and the close buy sell EA on either the 4H or 1H chart or a hard 100 TP or middle line of TMA. Just my thinking for now.
  • #2,964
  • Oct 19, 2010 12:20am Oct 19, 2010 12:20am
Quoting jtmoore007
Anyone know of an Ea that will take snapshot of your screen the moment a trade is entered?
MT4 or the EA posts an arrow at the point of the trade and also at the exit unless you change your screen, is that enough?
  • #2,965
  • Oct 19, 2010 12:46am Oct 19, 2010 12:46am
Quoting nanningbob
MT4 or the EA posts an arrow at the point of the trade and also at the exit unless you change your screen, is that enough?
Yea but no. I want to keep better trade journal and entry and exit screen would be helpful. At least I think so...
  • #2,966
  • Oct 19, 2010 1:24am Oct 19, 2010 1:24am
I only have the sell ea on the usdcad right now. anyone see any other trades?
  • #2,967
  • Oct 19, 2010 2:13am Oct 19, 2010 2:13am
Quoting nanningbob
I think I should but wanted to gather some more ideas before I put a final version together. I think the RSI filter really puts some polish on the system. Our friend from PA will love me for finally using his favorite indicator. The MPTM with the +5 was driving me nuts but now I will have rules as to when to use it and when not to. Obviously you dont use it with divergence trades but non divergence trades you would. So that one rule there will stop many trades from going negative, if they go to divergence first, but if they dont diverge you are...
Bob,
Can you design the RSI to give us alerts like the indicator in version 5?

Scott
  • #2,968
  • Oct 19, 2010 2:22am Oct 19, 2010 2:22am
Hello,

I'm having some trouble identifying what the exact entry-condition is for entering a trade after price has moved through the upper/lower band of the TMA.

Well, price has crossed TMA. But what then? :

For a sell : Wait for price crossing down the 3 LWMA of high (shift2) ?
For a buy : Wait for price crossing up the 3LWMA of Low (shift2)?

Wait for the 3LWMA of high x 1LWMA of median price crossing?

Do we enter as soon as the crossing happens or do we wait for closed candle?


Which one do you guys use ?

Hopeing someone could help me out.

Greetings Edja
  • #2,969
  • Oct 19, 2010 2:45am Oct 19, 2010 2:45am
Quoting edja00
Hello,

I'm having some trouble identifying what the exact entry-condition is for entering a trade after price has moved through the upper/lower band of the TMA.

Well, price has crossed TMA. But what then? :

For a sell : Wait for price crossing down the 3 LWMA of high (shift2) ?
For a buy : Wait for price crossing up the 3LWMA of Low (shift2)?

Wait for the 3LWMA of high x 1LWMA of median price crossing?

Do we enter as soon as the crossing happens or do we wait for closed candle?


Which one do you guys use ?

Hopeing someone could help...
your answer will be found starting in post 2849 page 190. Bob explains it the best
  • #2,970
  • Oct 19, 2010 3:00am Oct 19, 2010 3:00am
Quoting edja00
Hello,

I'm having some trouble identifying what the exact entry-condition is for entering a trade after price has moved through the upper/lower band of the TMA.

Well, price has crossed TMA. But what then? :

For a sell : Wait for price crossing down the 3 LWMA of high (shift2) ?
For a buy : Wait for price crossing up the 3LWMA of Low (shift2)?

Wait for the 3LWMA of high x 1LWMA of median price crossing?

Do we enter as soon as the crossing happens or do we wait for closed candle?


Which one do you guys use ?

Hopeing someone could help...
Remember this is a test version at this point but I am settling into 3 conditions to turn on the EA:
1. Price is above or below the TMA
2. RSI is above or below 80-85 or 15-20 line (undecided at this point)
3. This then means I turn on the EA and I want to enter at the trendline break.

The EA lines are an approximation of a trend line. At the trendline break I want to Sell or Buy. The EA is designed to do that for you, enter at the trendline break. If you manual trade you can draw your own trendline, or use a trendling break indicator and warning system or use a MA cross warning system. I have both of those.

So that is what I am testing.

The other way is waiting on the 1MA to cross the MA line (trendline) which delays the trade a bit more. So that is my decision making process at this point.
  • #2,971
  • Oct 19, 2010 1:14pm Oct 19, 2010 1:14pm
they move a 1/4 pt and the BAM! I have 12 Ea's set and waiting...this is going to be good!

I see how this system keeps out of DD because as long as the market trends there is no entry. If we were going to enter on a BB touch... well think of how many trades you would be in DD now looking for a recovery trade L2.

At first I did not see that much difference in the systems, but now I see it!!!

Genius I say. Thanks Bob
  • #2,972
  • Oct 19, 2010 1:30pm Oct 19, 2010 1:30pm
Radio, What timeframe are U using?
I use 1H and just took a buy AUD/JPY around the green arrow. Already in drawdown.

I waited and waited before entry as I was looking for sign of retracement, and then as soon as i entered, down it went again.

Btw: I entered at X-ing of price with 3MA outside TMA.

Greetings, Edja
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYH1.jpg Size: 191 KB
  • #2,973
  • Oct 19, 2010 1:48pm Oct 19, 2010 1:48pm
Watch out this may be the real thing.
  • #2,974
  • Oct 19, 2010 1:52pm Oct 19, 2010 1:52pm
Quoting edja00
Radio, What timeframe are U using?
I use 1H and just took a buy AUD/JPY around the green arrow. Already in drawdown.

I waited and waited before entry as I was looking for sign of retracement, and then as soon as i entered, down it went again.

Btw: I entered at X-ing of price with 3MA outside TMA.

Greetings, Edja
4hr only...in my exp when counter trading you make shorter profits instead of going for the home run. Bob is working out how to figure out which one is likely with the rsi divergence. On strong moves like this I personally will look for smaller profits. this is big news and unexpected. I think that the market was looking for a big reason to correct itself. So it was not a matter of if this would happen it was more like when was it going to happen.
on 4hr you would still be waiting for an entry
http://i688.photobucket.com/albums/v...onaut/10-9.gif
  • #2,975
  • Oct 19, 2010 2:03pm Oct 19, 2010 2:03pm
Thanks Radio, and good luck with your entry.

Edja
  • #2,976
  • Oct 19, 2010 2:20pm Oct 19, 2010 2:20pm
Hi, Sorry for another Beginner question. I have two versions/methods to plot the Sixth Indicator. (1) On a Template kindly sent to me by one of this thread's subscribers it is plotted as golden and green Horizontal lines, and (2) the Sixth Indicator 5.0 plots levels which change when the chart window is re-sized (e.g. made smaller to fit with other charts, where the levels will change back when the window is maximized).
Is there a reason for this? I may be missing something, but with levels re-positioning according to chart size, which levels are the correct ones to trade from? I am working on a 4 Hour chart. fyi, I also found a Sixth Indicator posted on this thread by Macman, which I think is called Sixth Screen Ver 3.9_DC, in which the lines don't move. Any explanation on this from Bob or someone with experience on this system would be appreciated. Once again, my compliments to Bob & Team - this is a great set-up!!
Thanks,
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #2,977
  • Oct 19, 2010 2:35pm Oct 19, 2010 2:35pm
Quoting teemo
Hi, Sorry for another Beginner question. I have two versions/methods to plot the Sixth Indicator. (1) On a Template kindly sent to me by one of this thread's subscribers it is plotted as golden and green Horizontal lines, and (2) the Sixth Indicator 5.0 plots levels which change when the chart window is re-sized (e.g. made smaller to fit with other charts, where the levels will change back when the window is maximized).
Is there a reason for this? I may be missing something, but with levels re-positioning according to chart size,...
Use 3.6_DC.

Or get rid of sixths indi and use TMA instead. That's what I do
  • #2,978
  • Oct 19, 2010 7:27pm Oct 19, 2010 7:27pm
Quoting teemo
Hi, Sorry for another Beginner question. I have two versions/methods to plot the Sixth Indicator. (1) On a Template kindly sent to me by one of this thread's subscribers it is plotted as golden and green Horizontal lines, and (2) the Sixth Indicator 5.0 plots levels which change when the chart window is re-sized (e.g. made smaller to fit with other charts, where the levels will change back when the window is maximized).
Is there a reason for this? I may be missing something, but with levels re-positioning according to chart size,...
Hi Teemo,

I believe that the correct sixths indicator (according to Bob's documentation for the system) is SIXTHS V5.2.

V5.2 does cause the lines to shift as you scroll back through the charts and is therefore not so good to use for back-testing purposes. However for trading purposes, it is the correct one to use as it should indicate correctly at the current price position at the right-hand edge of your chart.

This having been said, you must ensure that you have the chart set to 4Hourly window and it must display about 4 weeks of data. The V5.2 indi actually divides the MT4 screen into six horizontal bands so it is important to set your screen as above.

The SIXTHS Ver 3.9_DC and similar versions are designed to enable traders to perform back-testing by Expert Adviser. This is achieved by displaying sixths lines that are an approximation of where the V5.2 lines would have been plotted when the back-tested period being displayed was the latest, current price. (Hope that makes sense).

Some folk are using the 3.9_DC and similar versions to trade successfully because it is still "near enough" and the actual trade entry is not right at a sixths line but at the next cross of the appropriate MAs.

Hope I haven't confused you more,

Mike
  • #2,979
  • Oct 19, 2010 8:27pm Oct 19, 2010 8:27pm
Quoting Prophit
Hi Teemo,

I believe that the correct sixths indicator (according to Bob's documentation for the system) is SIXTHS V5.2.

V5.2 does cause the lines to shift as you scroll back through the charts and is therefore not so good to use for back-testing purposes. However for trading purposes, it is the correct one to use as it should indicate correctly at the current price position at the right-hand edge of your chart.

This having been said, you must ensure that you have the chart set to 4Hourly window and it must display about 4 weeks of data. The...
Thanks for the g and ood explanation. Some traders use the 3.9 so they can use any size screen and the lines dont move. 2nd, EAs need the fixed lines so they can do their trade computations. You cant have moving lines to trade in a computer program. I prefer the 5.2 lines but the 3.9 is fairly close to the 5.2.
  • #2,980
  • Oct 19, 2010 8:31pm Oct 19, 2010 8:31pm
Just to let some of you know that I have also tested the TMA on a 1H chart. When it works you get really great trades but they also get into some trades too early so you get more DD. When you have a Trendline break on a 4H chart, chances are very good you will get at least 20 pips. That is not always true when you get a trendline break on a 1H chart. I got bored yesterday because I only had a couple of trades on the 4H chart so I went to the 1H took about 10. The couple that went into profit were terrific but the rest have given me a lot of small DD so far.
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