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  • #181
  • Feb 14, 2011 3:37am Feb 14, 2011 3:37am
Quoting forexgame
Hi ido

Thank you for sharing the indicator. I tried to download the indicator but failed to get it.
apologies, it will be up in the afternoon, just noticed mistake which i'm correcting and testing first now.
  • #182
  • Feb 14, 2011 3:52am Feb 14, 2011 3:52am
How tight are you about the rule that when going to buy then the high of last candle should not be the highest among last 5?
I ask this because USDCHF is forming a nice box on my chart but the last candle is the highest... Would you trade sth like this anyway or better to stay away?

EDIT: in this example all 5 candles have practically equal highs. 1-2 pip difference.
Attached Image
  • #183
  • Feb 14, 2011 3:58am Feb 14, 2011 3:58am
Quoting Indrek
How tight are you about the rule that when going to buy then the high of last candle should not be the highest among last 5?
I ask this because USDCHF is forming a nice box on my chart but the last candle is the highest... Would you trade sth like this anyway or better to stay away?
Please read Post #169 as Colostarr already replied this when I asked him the same question.
  • #184
  • Edited 4:33am Feb 14, 2011 4:05am | Edited 4:33am
Quoting Blackeagle
Please read Post #169 as Colostarr already replied this when I asked him the same question.
Thank you. And sorry for asking the same question again.
  • #185
  • Feb 14, 2011 4:16am Feb 14, 2011 4:16am
Quoting mnoh
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
It will show on the 6th bar (after fulfilling the rules for the 5 previous bar) if it becomes valid the rectangular for 4 hours.

Colostarr!
Can you please look at my indicator whether the signals were valid?
I have problem with sginals that becomes valid again after 1-2 bar after the first setup bar. I omitted these from my indicator, because there are quite a lot of overlaping rectangular.
  • #186
  • Feb 14, 2011 4:19am Feb 14, 2011 4:19am
Attached Image
  • #187
  • Feb 14, 2011 4:29am Feb 14, 2011 4:29am
I apologize for my English!
In other Alpari max. does this mean there is no entry?
And to explain what the candle look ATR 1 or 2?
Thanks for earlier!
  • #188
  • Feb 14, 2011 4:53am Feb 14, 2011 4:53am
Hi,
if I correctly understand the rules, there is a valid setup to go Long in GBPJPY.
It's Right?
  • #189
  • Feb 14, 2011 4:59am Feb 14, 2011 4:59am
I am all over that trade!

It IS forming nicely! The High of the most recentl closed candle exceeds ATR by 1 pip. Close enough for me. I think it will breakout in it's current candle.

I'd say go ahead and place your buy stops!

Quoting Indrek
How tight are you about the rule that when going to buy then the high of last candle should not be the highest among last 5?
I ask this because USDCHF is forming a nice box on my chart but the last candle is the highest... Would you trade sth like this anyway or better to stay away?

EDIT: in this example all 5 candles have practically equal highs. 1-2 pip difference.
  • #190
  • Feb 14, 2011 5:01am Feb 14, 2011 5:01am
I don't trade that pair...couldn't tell you!

Quoting gspe
Hi,
if I correctly understand the rules, there is a valid setup to go Long in GBPJPY.
It's Right?
  • #191
  • Feb 14, 2011 5:06am Feb 14, 2011 5:06am
I would validate this as a good northerly break out for 2 reasons:

1. It coorelates to the EURUSD which is currently heading south

2. This pair is currently in a very strong uptrend (SMA's are very seperated and pointing north! on 4H)!

Not trying to create a double standard here

this plays into what I was saying earlier about looking at your charts, taking other factors into account: coorelating pairs, trends pivots

Indicators and EA's create a way for you to NOT have to look at your charts, not have to read anything into a trade. Educate yourselves!

Trading is MUCH more than an indicator or an EA!

To be successful you must actually trade, not rely on an indicator or EA!!

Quoting Blackeagle
Please read Post #169 as Colostarr already replied this when I asked him the same question.
  • #192
  • Feb 14, 2011 5:28am Feb 14, 2011 5:28am
Quoting Colostarr
I would validate this as a good northerly break out for 2 reasons:

1. It coorelates to the EURUSD which is currently heading south

2. This pair is currently in a very strong uptrend (SMA's are very seperated and pointing north! on 4H)!

Not trying to create a double standard here

this plays into what I was saying earlier about looking at your charts, taking other factors into account: coorelating pairs, trends pivots

Indicators and EA's create a way for you to NOT have to look at your charts, not have to read anything into a trade....
Sorry but I couldn't understand how this post is related to my post to Indrek. He just asked the very same question I asked and I just pointed him to your post answering both questions (just saved your time). That's all. Other than that I haven't mentioned or commented about any other factors you explained above.

And I totally agree with you that there is no need to any indicators and EAs (I don't even know how to use or attach EAs) for your strategy. A simple Excel spreadsheet to do the required calculations for six major currencies (just updating them every 4 hour when the bar closed) would be more than enough, IMO.

Kind Regards,
Blackeagle
  • #193
  • Feb 14, 2011 5:34am Feb 14, 2011 5:34am
Agreed. I posted it because I didn't want to appear that I trade to a double standard.

The comparison was because I have been watching this pair all day, and I expect it to break out.

I took other factors into consideration in saying yes it was a good signal! And I still stand by it...USDCHF is currently in a valid breakout pattern!

Wasn't trying to blast you individually, Just trying to get a message out to the masses!

I traded indicators and EA's for years - it always seemed like I was playing catch up with my account balance.

I see the very same behavior in this thread - EA's and indicators to make life easy! It won't happen - I promise! You have control to make your life easy, not an indicator!

Quoting Blackeagle
Sorry but I couldn't understand how this post is related to my post to Indrek. He just asked the very same question I asked and I just pointed him to your post answering both questions (just saved your time). That's all. Other than that I haven't mentioned or commented about any other factors you explained above.

And I totally agree with you that there is no need to any indicators and EAs (I don't even know how to use or attach EAs) for your strategy. A simple Excel spreadsheet to do the required calculations for six major currencies (just updating...
  • #194
  • Feb 14, 2011 5:46am Feb 14, 2011 5:46am
Quoting 236dave
Kopaszn,

I have loaded your indi up on a chart and I have a few observations:

I believe the setup bar, when closed counts as 1 of the 5 bar sequence.
- Sorry to Easyryder, (see post #120) you were correct!
I have therefore changed the variable to barnumber = 4.

Would it be possible to have your indi take account of the rule:
For valid down trend signal ~ 2. The low of the most recently closed candle is greater (higher) than the LL5
For valid up trend signal ~ [b][i]2. The high of the most recently...
Thanks for your input. I upgraded the indicator. It will take into consideration that the setup bar cant be the highest for a buy setup, inverse situation for a sell setup. Still only 20 SMA is considered.
Colostarr!
Can you please check the indi as well if your recent setups correlates with this indi. Thanks.

kopaszn
Attached File(s)
File Type: ex4 atr1.5 hh5-ll5 v2.ex4   10 KB | 408 downloads
  • #195
  • Edited 6:49am Feb 14, 2011 6:16am | Edited 6:49am
Quoting Colostarr
I see the very same behavior in this thread - EA's and indicators to make life easy! It won't happen - I promise! You have control to make your life easy, not an indicator!
Good point! Such a system certainly does not need any tools besides one's eyes, hand and mind.
Multiplying 50 or 60 with 1.5 can be done by heart at least with basic level of education, everything else is just manual, technical work.
  • #196
  • Feb 14, 2011 6:53am Feb 14, 2011 6:53am
Colostarr,
I ask about this USDCHF setup you traded last week. For me the setup became valid on earlier bar (red dotted line). If the next bar still ranges, like here to the south and you get again a new setup, you just change the position of your buy stop order according to last hh5?

http://img707.imageshack.us/img707/9...0214154542.png
  • #197
  • Feb 14, 2011 7:36am Feb 14, 2011 7:36am
Set up on USDCAD for a sell:
1.5xATR=0.0042
HH5-LL5=0.0042

Sell trigger: 0.9842 (including 4 pips for spread).
Stop loss: 0.9898

However, I've got one concern here: close ST support at 0.9830 / 0.9835. Would you wait in that case for a breach of the lower support??

Thanks.

JP
  • #198
  • Feb 14, 2011 8:10am Feb 14, 2011 8:10am
Yes you do. And as of now it is a VALID entry for a long position! All rules met, set your stop orders!
I came up with
2 orders Buy stop
Price:.9759
Stop loss: .9706
TP1: .9785
TP2: .9812

Your values might be slightly different. Follow the rules to place your order stops!

This is the part that I say: Be patient, let Price come to you!

Quoting kopaszn
Colostarr,
I ask about this USDCHF setup you traded last week. For me the setup became valid on earlier bar (red dotted line). If the next bar still ranges, like here to the south and you get again a new setup, you just change the position of your buy stop order according to last hh5?

http://img707.imageshack.us/img707/9...0214154542.png
  • #199
  • Edited 3:36pm Feb 14, 2011 9:23am | Edited 3:36pm
Here's the latest version of the indicator.
Screenshot with all options ON:
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-14 om 18.18.38.png Size: 39 KB


This way, you can have the rules always onscreen (might be me, but i forget rules sometimes and have to go back to first post to read again )
Attached File(s)
File Type: mq4 Small Hours v2-latest.mq4   10 KB | 420 downloads


P.S. Alert function is work in progress (again..), so on own risk
  • #200
  • Feb 14, 2011 9:32am Feb 14, 2011 9:32am
Now this indicator I like...with the rules?

Ido you are a pretty talented coder!~ You should put your talents to work for yourself! This is great!

An indicator with freaking rules right on it...who would've thunk it?

I'm actually laughing out loud right now! I am proud of you buddy!

Quoting ido370
Here's the latest version of the indicator.
Screenshot with all options ON:
Attachment

This way, you can have the rules always onscreen (might be me, but i forget rules sometimes and have to go back to first post to read again )
Attachment
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