The Small Hours Simplified! | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simplified original turtle trading system 44 replies

Support and Resistance Trading Simplified 249 replies

Simplified Trailing Stop 0 replies

Simplified Version Of (Fast) Stochastic 2 replies

a software that can offer a simplified rate of any currency in your screen 0 replies

Attachments: The Small Hours Simplified!
Exit Attachments

The Small Hours Simplified!

  • #141
  • Feb 14, 2011 1:10am Feb 14, 2011 1:10am
Yes keep this in mind: You count back from the most recently closed candle.

You can use the current candle as an eyeball method, but the rules can't be applied until it closes.

For simplicity sake - Use the MOST RECENTLY closed candle!

Quoting mnoh
Hi Ido370,

1. Your indicator gives ATR value not for the closed current candle (pointed by an arrow). The value is for the unclosed current candle. Look at the attachment.

2. The HH5 - LL5 value is correct which give the value from last 5 candles counting backward from the closed current candle (pointed by an arrow).

Need comment from Colostarr.

Thanks
  • #142
  • Feb 14, 2011 1:24am Feb 14, 2011 1:24am
Does anyone else have such strange problem with the indicator?
Attached Image
  • #143
  • Feb 14, 2011 1:25am Feb 14, 2011 1:25am
Quoting kopaszn
OK, So here is the indicator. I think is really helpful to eyeball the history with it.
http://i54.tinypic.com/nytmci.png

I thank you for the indicator, few signals but they always seem to work when triggered. It's a bit difficult doing the maths but this indy will be helpful!!
  • #144
  • Feb 14, 2011 1:41am Feb 14, 2011 1:41am
Quoting angelofx
few signals but they always seem to work when triggered
I attached the indicator, too, and visually it seems obvious that a 5-candle box as described with this system should be traded to both directions, i.e we set pending orders to both directions of the box regardless the SMA confirmation. And if one triggers and loses then we keep and trade the opposite one.
Colostarr, sorry if my post is distracting. I will remove it if you want.
  • #145
  • Feb 14, 2011 1:57am Feb 14, 2011 1:57am
The last signal on the USDJPY chart you posted is not a valid sell signal. Where are your SMA's? Where's your data window?

Did you validate the rules of these signals??

I'm not sure I like the indicator. Does it calculate where the close of a bar is in relation to where the SMA's are?

On the chart you posted, the farthest left signal breaks rule #1

ATR = 22 x 1.5 = 33
Total pips moved (HH5-LL5) = (HH5) 82.91 - (LL5) 82.29 = 62 pips (rule broken! Not a valid signal!)

Folks: You have 3 very basic rules to apply. Use the rules, print them, read them outloud to yourselves as you look at the chart. This helps YOU validate the rules before placing your Stops and limit orders!

Use these Indicators and EA's at your risk!

Quoting angelofx
I thank you for the indicator, few signals but they always seem to work when triggered. It's a bit difficult doing the maths but this indy will be helpful!!
  • #146
  • Feb 14, 2011 2:04am Feb 14, 2011 2:04am
Quoting Colostarr
Use these Indicators and EA's at your risk!
In fact, we do not need any indicators and EAs for such a low maintenance system. We need to do the calculations no more than once per 4 hours. It is not too difficult for anyone, I guess...
  • #147
  • Feb 14, 2011 2:11am Feb 14, 2011 2:11am
Your posts aren't distracting. What is distracting is that everyone is getting crazy about these indicators. While 2 years ago I would have LOVED to use them!

I have gone beyond it and folks I can tell you this, I am in the 3% that succeed in this market.

I am not bragging here and don't take this wrong: I trade 5% of my account balance, default pip value is .4 full lots. My account balance is ALL profit at this point and higher than it has been ever in my trading career.

I am where I am right now not because of indicators or EA's, I do this by manually trading a method and STICKING to it's established set of rules!

It has literally catapulted me to success.....it's called "Hard work and determination"

Stop using indicators and EA's, use your mind and your eyes and watch your charts.

If it was easy you obviously wouldn't be here reading this and anyone could do it!

My message to EVERYONE: Apply yourself, learn a method and stick to it. STOP being lazy and greedy, this market will EAT YOU ALIVE. Trust me I know this, because I have been there and I will NOT go back! There is NO holy grail or 100% system

There is however solid money management and a steadfast determination to stick to rules!

Quoting Indrek
I attached the indicator, too, and visually it seems obvious that a 5-candle box as described with this system should be traded to both directions, i.e we set pending orders to both directions of the box regardless the SMA confirmation. And if one triggers and loses then we keep and trade the opposite one.
Colostarr, sorry if my post is distracting. I will remove it if you want.
  • #148
  • Feb 14, 2011 2:13am Feb 14, 2011 2:13am
ATR 26, HH5-LL5 =30
http://i54.tinypic.com/1563jvp.png
  • #149
  • Feb 14, 2011 2:21am Feb 14, 2011 2:21am
Use any indicators you'd like. If it helps you succeed by all means. Just do a visual check to make sure that the rules are met!

Quoting kopaszn
ATR 26, HH5-LL5 =30
http://i54.tinypic.com/1563jvp.png
  • #150
  • Feb 14, 2011 2:24am Feb 14, 2011 2:24am
USDCHF is looking good right now. the 8:00 GMT candle closed and price continued sideways in a tight range. Keep an eye on this pair. The 1200 GMT close will be the signal bar if price continues sideways! More to follow!
  • #151
  • Feb 14, 2011 2:46am Feb 14, 2011 2:46am
Hi ColoStarr,

Would you consider this a valid sell trigger on EURUSD:
1.5xATR=0.0071
HH5-LL5=0.0074 (enough close to 1.5xATR?)
Price below 20SMA/40SMA
Breach of LL5

Many thanks for sharing.

JP
  • #152
  • Feb 14, 2011 2:51am Feb 14, 2011 2:51am
Quoting kopaszn
OK, So here is the indicator. I think is really helpful to eyeball the history with it.
Hi Kopaszn,

Thanks for the useful indicator. Your indicator shows the history that met the set up criterion. It does not show the recently 5 bars set up as shown in the chart below. It would be nice to see if the indicator be able to draw the rectangular box of 5 recently bars which met the 3 rules and draw the lines representing the TP and SL based on ATR calculations.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 24 KB
  • #153
  • Feb 14, 2011 2:55am Feb 14, 2011 2:55am
Quoting Colostarr
USDCHF is looking good right now. the 8:00 GMT candle closed and price continued sideways in a tight range. Keep an eye on this pair. The 1200 GMT close will be the signal bar if price continues sideways! More to follow!
Hi Colostarr,

Very nice set up for EURUSD too!!!! Am I right?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 24 KB
  • #154
  • Feb 14, 2011 3:20am Feb 14, 2011 3:20am
I'm sorry.

ATR < HH5 - LL2. No trade for EU as it should be
  • #155
  • Feb 14, 2011 3:53am Feb 14, 2011 3:53am
Quoting Colostarr
USDCHF is looking good right now. the 8:00 GMT candle closed and price continued sideways in a tight range. Keep an eye on this pair. The 1200 GMT close will be the signal bar if price continues sideways! More to follow!
Thanks for the strategy. A couple of issues re. USDCHF.

- You said 8.00 GMT candle closed but I think you mean 4.00 GMT candle which closed at 8.00 GMT. At the moment 8.00-12.00 GMT candle is open and I believe you mean the current candle close at 12.00 GMT will be the signal bar.

- If this the case, then we have a problem, IMO. Because you said you never use Sunday bar. So, when we start counting 5 bars backward including the current bar (8.00-12.00 GMT candle) but excluding Sunday bar (Feb 13th, 20.00 GMT bar), the 5th bar would be Feb 11th 16.00-20.00 GMT candle bar which has 0.97737 high which is the highest high and the lowest low is 0.97087 as of this post. So the diff. is 65 pips and ATR is 37. When we do the math, 65 > 37 * 1.5, so rule number 1 is not valid in this case.

- However, if you include Sunday bar, then rule number 1 is valid but the high of the current bar is also the high of HH5, so then rule number 2 is not valid.

- As a result, in both cases (including Sunday bar or not), current candle won't be a signal bar, IMO.

Can you please confirm if my understanding is correct?

Thanks,
Kind Regards,
Blackeagle
  • #156
  • Feb 14, 2011 3:54am Feb 14, 2011 3:54am
No I would not. A difference of .5 pips yes I would consider it! But 3 pips...no I would not consider!

Quoting Phiksalamuk
Hi ColoStarr,

Would you consider this a valid sell trigger on EURUSD:
1.5xATR=0.0071
HH5-LL5=0.0074 (enough close to 1.5xATR?)
Price below 20SMA/40SMA
Breach of LL5

Many thanks for sharing.

JP
  • #157
  • Feb 14, 2011 3:58am Feb 14, 2011 3:58am
I said I have never used a Sunday Bar, in that I literally haven't used one because one hasn't been part of the rules. Not that I DON"T use a Sunday bar.

And yes you are correct I meant the 400 GMT bar (I used the close time). If you look at the chart the pair is in a definite up trend (sideways at the moment). At 1200 GMT if it still looks like it looks now, no reason to NOT set your stops and limits!

So together I guess we'll see if a Sunday Bar is a valid bar...yes?

Quoting Blackeagle
Thanks for the strategy. A couple of issues re. USDCHF.

- You said 8.00 GMT candle closed but I think you mean 4.00 GMT candle which closed at 8.00 GMT. At the moment 8.00-12.00 GMT candle is open and I believe you mean the current candle close at 12.00 GMT will be the signal bar.

- If this the case, then we have a problem, IMO. Because you said you never use Sunday bar. So, when we start counting 5 bars backward including the current bar (8.00-12.00 GMT candle) but excluding Sunday bar (Feb 13th, 20.00 GMT bar), the 5th bar would be Feb 11th...
  • #158
  • Feb 14, 2011 3:59am Feb 14, 2011 3:59am
Quoting Colostarr
Hey you lended a hand. It wasn't that you messed up this thread. it is far from messed up! I appreciate what you've done!

Let me explain: One of the things that I am now proud of is the fact that I got off my ass and started working on trading, rather than have someone or an EA work for me.

In the last 10 days I've nailed 638 pips (at $4.00 per pip!) and it wasn't because an EA did it for me! And No not all 638 pips came from this method (I trade 4 other methods!)

I can now look at my charts and my account balance with great confidence...



it would be interesting to know the basics of your 4 other methods ?


also, this system, is it possibly to trade manually without the ea ? can the indi set ups be done manually ?
  • #159
  • Feb 14, 2011 4:00am Feb 14, 2011 4:00am
I did not see a small hours hours setup on EURUSD. What leads you to believe this is a setup? Let's talk this through using the rules!!

Quoting mnoh
Hi Colostarr,

Very nice set up for EURUSD too!!!! Am I right?
  • #160
  • Feb 14, 2011 4:10am Feb 14, 2011 4:10am
Hi Kopaszn,

Very very useful indi indeed. Thanks

The target profit is based on
1. First TP is calculated by using entry price plus the value of ATR x .75
2. Second TP is calculated by using entry price plus the value of ATR x 1.5

How about the entry price? If I'm not mistaken, looking at the lines (representing TP 1 and TP2) drawn on the chart, the 1st line is based on the HH5 (entry price) + (ATR x .75) & the 2nd line is based on the HH5 (entry price) + (ATR x 1.5). So the entry price doesn't follow the condition where (HH5 + 3 pips + spread). Please correct if I'm wrong.
0 traders viewing now