Forex Bible System

Your most welcome and no I have'nt but you've got me curious ......

Just wanted to make a few comments about the Golden Varitey indicator since there seems to be some confusion about it's use. It is a collection of classically based indicators (ma, macd, rsi, momentum, demarker, adx, and force index). A bit of over kill, I think, but even so it is of some use precisely because of it's classical derivation.

Personally I am only interested in the following components:

1. Ma - the green/red arrows represent a cross of the 2 ema and the 18 lwma - the 18 ma is a basic and somewhat standard ma but could be adjusted to ones personal preference (18 being mine).

2. The red/green squares are a combo of the DeMarker and Force Index. One being an overbought/oversold type of indy and the other a momentum (force) type). They seem to work well in combo to express market sentiment which I think can be useful to our needs. I like that they are represented as a basic stop and go red/green indy - no interpretation of squiggley lines required.

I have not personally noticed any re-painting issues with these to components. During active bar formation the indicator (arrows) may blink on and off or change colour (squares) as the active bar wiggles up and down. This is normal for these types of indies and to be expected (they are meant to respond to price).

What is crucial is that the signals remain fixed once the active bar that generates them closes. It's only considered re-painting if the signals change after they have been printed which usually shows up when one toggles timeframes or closes then reopens the trading platform. So far I have not seen this happen so (fingers crossed) I am going to conclude that re-painting should not be an issue with these components. In any case, as with all indicators, they should always be considered as secondary to what is happening to price itself in relation to market structure. That's my two bits worth for today.

Ha...
A fleas teeny wenny

Thanks Again FxHermit,

I am going to quickly read this thread and see if I can add anything. I see your utilizing the ema wave....I do also and a thing called the price action indicator....I'll try to attach but I doubt it will work as it is proprietary work from another....

Maybe it works....

I did the adx to see if I could load the PAI ..didn't work

The ADX crosses works well on 4 hour

My House

Let's see if TP1 is achieved or if it turns into a double top or some such rather than a breakout. At least it's a free play so no nail biting required . I was quick to move to B/E on this one as price is at both a daily and H4 S/R zone.

Yeah, I agree, the ADX is a decent work horse. The squiggly lines drive me nuts though so I don't tend to use it.

Beautiful photo!

I have been working on the system presented here, and have added a few other indicators to the overall setup.

I watch the 15m and the 1hr.

Here is the 1hr with areas of interest marked.

I will continue to do live testing and see how the actual signals work, and will post my conclusion or progress as time goes forward, that is if it is okay with cubbybgood or those who have more time on this system.

Let me know.

Thanks.

Its not a histogram.
Its a alert arrow.
I just randomly grabbed that one before.
This one is less noisy.

O.K. on that last trade my slightly over zealous stop took me out for lunch money. Not to worry though, remember those bread and butter 123 setups, well guess what? Yup, took an entry on one and now price just tagged TP1 (yellow) . Profit stop now at the original TP1 for +5 on remainder.

Once again got stopped out, at profit though, a bit of wages on some and lunch money on the rest. I always prefer those trade setups that occur at or near the directional channel rather than when price is up in the vacuum of open space, so to speak, and up against a couple of S/R zones at that.

Then, of course, it turns and runs back the other way - it's enough to make a grown man cry ... boo .. hoo .. hoo. Gotta love this game LOL.

O.K. such sloppy trading as those last two warrants an immediate review. Hermit, what the H .... were you thinking???

Default back to the original trade signal. Had it not been for my rather foolish stop management the trade would have unfolded just fine and still be in play, thank you very much. It's been my nemesis before - not seeing the forest for the trees.

Starlimit, thanks for the great GoldenFinger EA. Trading with it with great success on 1 Hr with fine tuned risk settings!!!

I am scalping manually EU+GU using GoldenFinger indicator on 1min and 5min during London session. Would love to use your EA for this, but it opens and closes trades like a machine gun once it gets a signal. This is only on 1 and 5 min charts using Interbank. It works fine on 1Hr, but strangely the problem occurs during backtesting as well.....

Can you have a quick lock at this. Would very much appreciate it.
Thank you very much!!!

silicus

Hi silicus,
I think the couple of days have been so good to me with this system,though I dnt know hw it would perform in a ranging market but with some experience Iv been able to either stay clear or take my profit as small as possible under a ranging market, I use this EA for my account and it has been Ok since I started with it.Although I miss some trades and opt out of some due to discretion. I have fixed the bug of multiple orders being placed and added a couple of other features to makeit more semi-auto trade. The EA code is still in for any modification I have the source code already posted earlier....but be kind to post any modification as you deem fit and not to sell the EA.

I am watching this setup on the 15m GU chart.

Also EU and AU 15m is coming into a bullish setup.

I will post when this forms or fails.

Okay, were into a new hour bar, the 15m on the 3 pairs has not given any bullish signal just yet.

Of the 3, GU is the nearest to a Long setup, but the indicators have not confirmed the strength to enter.

We may get it during this 15m bar, patience will prevail.

Update:
The GU has given all indication that the breakout of my BUY LINE is set, but so far price is stalling each time near that line.
It needs the power to break through.
EU has gotten closer also, but not completely.

I took a long on EU with the break of the 3500 line, all indicators were set for the spike, closed for a quick +5 pips after I seen the GU and AU holding.

Waiting for GU and AU to give that spike power over my entry lines.