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Flag trading the trend

  • #3,441
  • Apr 15, 2011 2:55am Apr 15, 2011 2:55am
This trend line begins 10 months ago, or earlier depending on your interpretation. If price does come below this trend line, that could signal a long term change in direction.

Meanwhile back at the 5m...
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  • #3,442
  • Apr 15, 2011 3:03am Apr 15, 2011 3:03am
Hi Guys. Do you think that this was a 123 at the end of a trend on the 5 min chart? I did not take it. I have been only taking flag trades so far. Ray
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  • #3,443
  • Apr 15, 2011 3:08am Apr 15, 2011 3:08am
Quoting 1234
Hi Guys. Do you think that this was a 123 at the end of a trend on the 5 min chart? I did not take it. I have been only taking flag trades so far. Ray
looks good to me Ray... although it didnt trigger... i have the setup bar at 6.55gmt but price did not go above it in the 2 following bars.
  • #3,444
  • Apr 15, 2011 3:11am Apr 15, 2011 3:11am
Sorry I did not mark the HL's correctly. Ray
Hi Guys. Do you think that this was a 123 at the end of a trend on the 5 min chart? I did not take it. I have been only taking flag trades so far. Ray
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 125 KB
  • #3,445
  • Apr 15, 2011 3:14am Apr 15, 2011 3:14am
could be some flags here, be wary of res though.
  • #3,446
  • Apr 15, 2011 3:15am Apr 15, 2011 3:15am
Quoting d4n
looks good to me Ray... although it didnt trigger... i have the setup bar at 6.55gmt but price did not go above it in the 2 following bars.
Thanks. I am just trying to get the trend right at this stage. Ray
  • #3,447
  • Apr 15, 2011 3:22am Apr 15, 2011 3:22am
Quoting d4n
could be some flags here, be wary of res though.
looks like res won.
  • #3,448
  • Apr 15, 2011 3:58am Apr 15, 2011 3:58am
Did take this one short @ white line. It was a nice 123, but no div. & the trend is up. So after price kept me negative for a period, I the voice in my head (think it was Div) kept saying, "Where's the Divergence", in a deep, echoing voice, so I bailed slightly positive.

In hindsight I should have not taken the trade. I begin therapy tomorrow.
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  • #3,449
  • Apr 15, 2011 4:18am Apr 15, 2011 4:18am
Quoting diamonddbw
In hindsight I should have not taken the trade. I begin therapy tomorrow.

I've graduated psychology, PM me so we can arrange a meeting
  • #3,450
  • Apr 15, 2011 4:59am Apr 15, 2011 4:59am
Quoting Tonie_Fx
I've graduated psychology, PM me so we can arrange a meeting
++++++++++++++++++++++++++++++++

You can help with the voices???
  • #3,451
  • Apr 15, 2011 5:02am Apr 15, 2011 5:02am
looks like everyone stayed in bed today. nothing for me this mornin, giving up till US.
  • #3,452
  • Apr 15, 2011 5:25am Apr 15, 2011 5:25am
Quoting d4n
ok people ive been asked for an adaptable version of the setup indicator so here it is.

the only difference is, in the settings you can change "distance from the MA" (ie is the bar within 2.4 pips of the ma). this helps poeple with different digit brokers etc.

so if you are trading eu with 5 digits you would set it to 0.00024
if you trade eu with 4 digits you set it to 0.0002 and so on.... so you can even adapt it to gold or stocks etc if you want to.

i dont post much lately, but i still come around occasionally to c how things get along in this thread.
i wanna thank u for yr work and sharing it with others.
i shall have a q if u dont mind.
on the attached pic, the vertical line points to the candle that is over 50 on cci, and away from the MA by 1.8-2 pips //i magnified it much more to measure it precisely//.
isnt it green for some reason that i am not aware of or is it a bug ?//no offense//
it is EU/JPY.i ve seen similar ones but dont know if its the way it should be or smth else.

thx in advance for clarifying it
Attached Image (click to enlarge)
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  • #3,453
  • Apr 15, 2011 5:41am Apr 15, 2011 5:41am
Quoting patient pip
i dont post much lately, but i still come around occasionally to c how things get along in this thread.
i wanna thank u for yr work and sharing it with others.
i shall have a q if u dont mind.
on the attached pic, the vertical line points to the candle that is over 50 on cci, and away from the MA by 1.8-2 pips //i magnified it much more to measure it precisely//.
isnt it green for some reason that i am not aware of or is it a bug ?//no offense//
it is EU/JPY.i ve seen similar ones but dont know if its the way it should be or smth else.

thx in...
Hi Pip...
if you have the latest version, to use it on EJ with your broker, in the settings for the indicator you need to set "distance_from_ma" to 0.024
but obviously leave the setting as it is for the pairs with 5 decimal places.
  • #3,454
  • Apr 15, 2011 5:49am Apr 15, 2011 5:49am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

You can help with the voices???

I can talk to them. But from what i understood the voice helped you get out of the trade, so no need to panic about it, as long as it helps you.
  • #3,455
  • Apr 15, 2011 6:17am Apr 15, 2011 6:17am
Quoting d4n
Hi Pip...
if you have the latest version, to use it on EJ with your broker, in the settings for the indicator you need to set "distance_from_ma" to 0.024
but obviously leave the setting as it is for the pairs with 5 decimal places.
Hi D4n

noticed in your code that you also missed the rule that the bar must have the correct direction, ie. above 50 cci, close must be above open (ie. bullish), below -50 cci, close must be below open (ie. bearish)

therefore upgraded the original version to include this, as well as make it so that pip values are entered not point therefore no change to parms needed when using on JPY crosses

Regards
John
Attached File(s)
File Type: mq4 !Retracement Finder.mq4   7 KB | 1,172 downloads
  • #3,456
  • Apr 15, 2011 6:24am Apr 15, 2011 6:24am
Quoting d4n
Hi Pip...
if you have the latest version, to use it on EJ with your broker, in the settings for the indicator you need to set "distance_from_ma" to 0.024
but obviously leave the setting as it is for the pairs with 5 decimal places.

thx a lot
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  • #3,457
  • Apr 15, 2011 6:26am Apr 15, 2011 6:26am
Quoting jmw1970
Hi D4n

noticed in your code that you also missed the rule that the bar must have the correct direction, ie. above 50 cci, close must be above open (ie. bullish), below -50 cci, close must be below open (ie. bearish)

therefore upgraded the original version to include this, as well as make it so that pip values are entered not point therefore no change to parms needed when using on JPY crosses

Regards
John
See this is what happens when everyone wants to trade pork bellies and toffee apples!

As far as i trade john direction doesnt matter as long as close is above ma for long and vice versa so that why that rule isnt in.

And i left the distance manual because people wanted to use it on other things other than forex in which case the automatic pip rule can get confused.
  • #3,458
  • Apr 15, 2011 6:44am Apr 15, 2011 6:44am
just to illustrate to everyone about bar direction, i would use the setup bar below for a long as it has closed above ma and cci is >50 even though it is a down bar.
i'm not aware of any rule that contradicts this please correct me if i'm wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
  • #3,459
  • Apr 15, 2011 6:54am Apr 15, 2011 6:54am
Quoting d4n
just to illustrate to everyone about bar direction, i would use the setup bar below for a long as it has closed above ma and cci is >50 even though it is a down bar.
i agree
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  • #3,460
  • Apr 15, 2011 6:55am Apr 15, 2011 6:55am
what do those white digits at the right corner represent?
thx
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