On My Way To The Top

That is right...alert up indicator...price closes above the 5 and 20 ema and three set stochastics are closed in the same direction as the parameters for the other indicator but I don't look to M1 at all so you wouldn't have to worry about anything pertaining to that...

EMA alert indicator

is that the one you used till now?

Yes it is....

Ours will be a bit different:

1. We do not consider RSI
2. We do not bother about EMA Cross

What we do is check the order of Price, MA1 and M2.


Anyway: I hope all is fine -- you will have to really test this and watch if it does things correctly.

It takes too long for me to do that on your settings.

Default setting should do something like that:


1.
Considers the Live Candle ( Option: ConsiderOnlyClosedCandles=false)
Note sure what is best: as I understand it there are different disadvantages in whatever one uses
I would leave it for a start like that. (if you want we can discuss them here)

(if you set that to true everywhere we use the last Past candle (close candle) also for MA's, for Price etc..

2.
Additional Sound Alert enabled: (Option: UseAdditionalSoundAlert = true)
- Note this Alerts only at the 1st bar when the direction changes
we might want to talk about that.

3.
(Option CheckOnlyAtNewChartBar=false; I would leave it for a start but we can discuss this later if you find you get too many alerts UP/Down within a couple of ticks.
There are other ways to do it.

4.
(Option UseEntryStochFiler= false; it is only indirect related to what you asked. But it might be a useful Filter depending on what you want.
if your plan is to rid the M5 14.1.3 or even the M5 100.1.3 stoch (or whatever stoch setting) to the otherside - this might be worthy to consider.
We can discuss it here

5.
Check that M5, M15, M30 Stochs (14,1,3) are between 80,20 level. (Option: AllBetweenOverBoughtSold=true)

6.
Check that M5, M15, M30 Stochs (14,1,3) all point up or all point down ( Option: MinNumberSameDirection=3)

7.
(Option:UsePriceMAsFilter= true)

Means: e.g. Stoch direction up:
We check that the Price is above the MA1 and MA1 is above MA2.


8.
I do some some (surely not all) checkups for input errors (in case you change something) if you have such error you get an permanent alert which is quite annoying.
So you will have to correct the error.
But better than to run with wrong settings I guess



Anyway I hope it works - the MA stuff should be useful - I checked it fast on smaller settings.

Happy trading!

Perfect thanks I am downloading it and putting it on my charts as we speak...I will let you know what I think after seeing it through the London session since I don't really take plays too much later than this unless its an excellent set up...

Thanks---great contribution---

Paul

hi one thing I just thought about.

I did not check all what you posted so far - but do you have the same EMA criteria also for pull back trades ( Spud called the Elastic)

For pullbacks what I look for are:

Let's say we are in an uptrend what I want to see is the 5 ema cross down below the 10 ema and then cross above it with a candle close above the ema as well...this must happen but than I also want to see the 5 minute stochastic pull back and go down ideally below 20 (best case scenario) or 50...and than turn back around to head up to the 30 minute, 1 hour and 15 minute which should be overbought and moving around above the 80 area...direction of which does not matter for those as the five minute will be attracted to them and pull the price up with it...and thats all I look for as far as pull backs go...the location of the 5 minute stochastic when it turns back up is discretionary and completely situational...

I have the Alerter with your settings applied to 17 Pairs and get quite some number of Alerts.

I think I messed up one of the settings maybe where I tried changing 14,1 to 14,3 I don,t I haven't gotten any alerts...I have to go through the settings again...but then again I do only have it on one currency pair so it probably just hasn't gotten a signal to alert of yet...I'm going to add it on a bunch of different pairs quite like you did and see how it goes and how I like the signal...


...never mind...I've got it and just waiting to see what kind of results I get...I'm trying it with open candles and than with closed candles...

If you want to test at the same time on same pairs with different settings

than it might be a help to set the StrToIdentify= to different strings - so in the popup alert you can see which one was triggered (on live candles the bar might disappear depending on how it closes).


e.g.

2 carts 5 min EURUSD

1.chart live candle
you could set the StrToIdentify= to example: StochAlerter_LiveCandle

2.chart closed candle
you could set the StrToIdentify= to example: StochAlerter_ClosedCandle



Than you can easily distinguish between both of them.

This helps to test at the same time for the same pair: so you get faster a overview what is best.

Just some hints.

Good morning all,

Little bit of a late start this morning with the posting and everything. But I have one two trades today on the gbp usd...first entry where vertical line and horizontal line cross...I placed a pending order at the low of the big bullish bar on the up move and this point is also below the 5,10,15,20 moving averages...now the reason I placed this pending order is because the rope was converged super tightly in my eyes along with the ropes on the higher time frames suporting a downward movement...but the candle I would have taken an entry on was a small bullish candle after a bearish candle that retraced off of the moving averages so I wanted to enter with price below this support level...so my pending short order was hit...and price was off to the downside..one thing that made me look to short was the fact that we had bearish divergence along with the stoch rope and we also had two price reactions that I interpret as test and fails off a channel line and around the fib resistance 1 level...in the picture you can see where I set my pending order and where my stop loss was set as well...Also the 5,15,30 14,3,3 stochastics are all crossed below there 100,3,3 counterparts which also supports this trade to the downside...price came about 5 pips to pivot but was retained by th 500 sma where the candle wicked up to that sma...with 15 and 5 both reaching below 20 and the 5 turning up with the stoch rope still converged and heading up so closed half of the position for about 44 pips...next vertical line is my pull back entry where you can see the 5 ema crossed above the 10 slightly and then closed back below with the 5 minute stochastic pulling up to the 50 and turning over with the stoch rope converging....30 and 1 hour stochastic trending down nicely..with 15 minute stochastic making a lower high for trend line to the downside...exit both positions at bullish divergence which shows a shift in momentum...this divergence occurs at the bottom of the channel at a mid pivot point...we have a test and fail and the stochs looking to be preparing for a move to the upside....with the 4 hour flat and still hanging right below the 80 level...so one position I closed the other half for 84 pips and the pull back position was closed for about 56 pips...so up 184 realized pips...and the last vertical line indicates the next exit option where the trend line on the 15 and 5 minute stochastic is broken...ok so I'm finally done with this post after over an hour of trying to type this up at work...

Paul

See I don't view trading as a mechanical thing...I think you set rules as guidelines but everything tells you a piece of what is going on and you basically just follow the bread crumbs in a sense until you get on the right track...trying something new with this alert thing though...i have one set to alert when the 5, 15, 30 are in the same direction and one set to when the 5, 1hour and 4 hour are in the same direction...and I'm thinking of adding another to when the 15,1hour and 4 hour are in the same direction just so I can than look and gauge the situation at that given time and see how everything looks as far as a set up is concerned...


Paul

Here is an example of a pull back entry on the EUR USD...i did not take this but just showing this for reference....could have rode to the top of the channel for about 60 pips...we have divergence...test and fail...mtf lined up..15,5, 1 hour and they are all pulling back to the 4 hour in overbought which is our main trend...and also take note to the 100,3,3 pull back and how it reflects what price wants to do...14,3,3 stochs are pulling back to its 100,3,3 counterparts...something else to take note of...

Does the Alert work so far?

so far so good but as of today during my looking for set ups during london session i was actually using the first indicator you put together for me...the multi direction without the filter...and it is also helping out a great deal...

Thanks

The first one uses closed candles

You guys are doing a great job!
I havent been very professional this week but will improve my attitude from now on.
I will seriously study all your ideas this weekend and give some meaningfull reply on all..

Hi,

I would be interested in what you guys are doing for SL. Do you actually set it - or do you have it mentally and close the trade manual if it reaches that point.