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5 Min TrendPipper - with Hull, Ema and Pivots

  • #281
  • Apr 17, 2011 5:27pm Apr 17, 2011 5:27pm
Quoting julie1585
hi again,

personally i wouldnt pay too much attention to a very short angled trend line on 5 min chart unless it coincided with one from a higher timeframe.

If you want to check for trend notice the 20 EMA at the time of your entry was flat. Trend had not quite developed yet, and if you add a 60 sma the 20 ema was still above it, a few candles later the 20 ema went below the 60 sma and the trade was good.

I am thinking of bringingin the 60 sma, but do not want to make it into a moving average crossover system as I think crossovers are very...
julie,

using the 60sma reminds me of another system, 5m intraday system.

http://www.forexfactory.com/showthread.php?t=11854

also sonic r. system

http://www.forexfactory.com/showthread.php?t=114792
  • #282
  • Edited 7:24pm Apr 17, 2011 6:33pm | Edited 7:24pm
Quoting vyrexus
hi julie,
glad to have you back, how your new place?hope you can settled in quickly.
thanks for your input.i guess i should have stick to the rule which is 15 pip sl.should have taken into consideration the broker spread as well.
but your method is still working fine to me. i didn't pointed out earlier after the loss i have re-enter again on the next retrace. manage to bank in 30 pips.


also curious to know why my pivot line and your line is different. i am using the THV4 TzPivotsD (Black) indi.is it similar to you?
for your info my broker...
Hi Vyrexus, yes thank you all settled in.

I use the THV4TzPivots indi that was posted here same as you.
I have broker set to 0 as my broker has 0.00 at Asian open. I don't need to tell it what my timezone is. Make sure you also change Open and Yesterdays High/Low to True and Pivots to Daily not Fibo.

J
  • #283
  • Apr 17, 2011 7:23pm Apr 17, 2011 7:23pm
Quoting pipdude
julie,

using the 60sma reminds me of another system, 5m intraday system.

http://www.forexfactory.com/showthread.php?t=11854

also sonic r. system

http://www.forexfactory.com/showthread.php?t=114792

Hiya Pipdude,

yes there are some similarities, I tried the 5m Intraday system a while ago. All systems (esp ones using MA's) will have similarities and similar entry points it is after all the same input data. I just wanted a more simple system that was very visual and had few bad entries.

Thank you Pipdude for your continued support and posts of how you use my system. Your contributions are extremely valuable and helpful to me and other traders.

J
  • #284
  • Apr 17, 2011 7:38pm Apr 17, 2011 7:38pm
hi julie,
okay i have change the gmt setting to follow the asian session open,
i hope i have a similar line with you
Attached Image (click to enlarge)
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based the current chart, would you be looking for a trade trigger to occurred or you only trade during late asian session onwards.
say the price retrace to ema(20) and close below open line but failed to close below MS1 line, is this a good entry also?
sorry if i keep asking a newbie question, hope it didn't annoyed you guys.
but i really appreciate your answer.
thanks
  • #285
  • Apr 17, 2011 9:23pm Apr 17, 2011 9:23pm
Quoting julie1585
Hiya Pipdude,

yes there are some similarities, I tried the 5m Intraday system a while ago. All systems (esp ones using MA's) will have similarities and similar entry points it is after all the same input data. I just wanted a more simple system that was very visual and had few bad entries.

Thank you Pipdude for your continued support and posts of how you use my system. Your contributions are extremely valuable and helpful to me and other traders.

J
julie,

thank you for the kind words, you are very welcome.
  • #286
  • Apr 17, 2011 9:45pm Apr 17, 2011 9:45pm
Quoting vyrexus
hi julie,
okay i have change the gmt setting to follow the asian session open,
i hope i have a similar line with you
Attachment
based the current chart, would you be looking for a trade trigger to occurred or you only trade during late asian session onwards.
say the price retrace to ema(20) and close below open line but failed to close below MS1 line, is this a good entry also?
sorry if i keep asking a newbie question, hope it didn't annoyed you guys.
but i really appreciate your answer.
thanks
Hi Vyrexus,

My open is actually Sydney open not Tokyo so our open lines will be different, if your 0.00 line is Tokyo then set it to 23 and you should get Sydney.

Yes your chart was showing an entry signal and I entered short after close below MS1 and got 15 pips and exited at yesterday's low.

I prefer late Asian and London but since I am over here I am trading early Asian.

Please don't worry about asking questions, other people read this and learn from the questions asked. And it helps me to refine exact rules when I get queries. So thank you for your input and interest.

J
  • #287
  • Apr 18, 2011 12:42am Apr 18, 2011 12:42am
thanks julie,
my broker time 0.00 is start at GMT 0, since sydney start at 2200 GMT, i guess my correct setting should be -2.
i have change it accordingly.
on the ealier trade, i am so glad i manage to recognize the same signal as you
but my question is some time the pivot line is too close with the nearby pivot line like yesterday low and s1.what happen if all the rules is meet, except that the price is close between the pivot line and since the range is tight, would you consider it to be a trade opportunity or not?
  • #288
  • Apr 18, 2011 2:45am Apr 18, 2011 2:45am
eurusd short signal, entry on pullback, 1st exit +70, hit ATR.
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  • #289
  • Apr 18, 2011 3:47am Apr 18, 2011 3:47am
Quoting pipdude
eurusd short signal, entry on pullback, 1st exit +70, hit ATR.
julie,

in this trade i ignored the long signal to get a better pullback entry on an earlier short signal, i know i definitely broke some rules here, but at what point do you sacrifice a better entry for what you may consider a false signal. with any system i always seem to run into this dilemma. i'd really like your comments on this. and how do you personally filter out false signals?
  • #290
  • Apr 18, 2011 7:18am Apr 18, 2011 7:18am
eurusd short 2nd exit +100
  • #291
  • Apr 18, 2011 8:33am Apr 18, 2011 8:33am
Quoting pipdude
julie,

in this trade i ignored the long signal to get a better pullback entry on an earlier short signal, i know i definitely broke some rules here, but at what point do you sacrifice a better entry for what you may consider a false signal. with any system i always seem to run into this dilemma. i'd really like your comments on this. and how do you personally filter out false signals?
Filtering out false signals is often a matter of being disciplined (which I am still working on myself). The signal looked good but the entry candle was a small doji sitting right on S1 and under Yesterday's low. The overhead resistance stifled the long trade and to me it felt like a short all day. I like to take the entries that come when price closes on the right side of resistance, those trades seem to take off better.

You got in 10 to 12 pips earlier for the short but ran the risk of it moving thru the resistance, it will sometimes work and other times not. I tend to want to trade that way also and would prefer to get in at the top or bottom right on resistnce or support but too many trades don't follow through when I jump in early.

The pivots help me filter out bad spots to enter trades, but I am finding I exit too soon and miss the rest of the trend. I am going to try your ATR indi for exits. But it requires patience as we have to sit thru slow tmes and retraces. It is proving to be quite reliably giving you around 100 pips or more per day. So with my system's entry and your exit strategy we could have a very profitable way to trade.

I actually intended this system to be an "entry and ride the trend" system, but with the pound it ended up closer to a scalping strategy and that may be the way it works, scalp the pound to pivots and ride the euro for the day.

I don't have as much time or consistency while I am on holiday but will certainly be looking to write rules for scalping and rules for longer trend trades, when I get chance.

J
  • #292
  • Apr 18, 2011 8:53am Apr 18, 2011 8:53am
reason: pin bar + rules
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  • #293
  • Apr 18, 2011 10:13am Apr 18, 2011 10:13am
closed eurusd short 3rd exit +210.
  • #294
  • Apr 18, 2011 12:20pm Apr 18, 2011 12:20pm
Quoting vyrexus
hi julie & guys,
on friday i have enter a sell position on eu, it hit my sl, but after that the price move to my direction. needs your guys wise opinion on which part do i do wrong/ should improve
Attachment
Hi Vyrexus...

Setting SL is a personal thing... some people recommend having a wider SL, just to give the move some room to play.

1. One option is to use an ATR multiple. Look at your info panel in the top left corner of your chart ("THV V4 Info")... at the bottom, you see 3x ATR SL. The number beside it is 3x the current candle's ATR (20 Period ATR). When you enter your trade, you can glance at this figure, and set your SL to that (it is wide enough to give the trade some room); at the time of your trade, 3x ATR (20) would have been 21 pips. If Price then starts to move in your direction, you can move your SL according to the current number in that panel as it changes (i.e.: 3x ATR away from current Price) - in this way you'll have a trailing stop of sorts. You can also use the built-in MT4 trailing if Price moves your way.

2. I sometimes use the Gann HiLo indicator (attached here; standard settings) to take my exits. It is the blue line on the attached chart. It helps make the decision making a little less stressful. If Price goes against me and crosses over to the other side of this line, I take my loss. However, I will use it to stay in my position (at least part of my position if I've already taken some profits elsewhere) until Price flips to the other side. I also sometimes use it to get back in if the trend is very strong. I have found that it is often wise not to ignore the signal to take the loss when Price flips over (as with any other SL method). Take care to avoid the temptation to use this indicator as a stop and reverse signal: it gives great signals in trends, but will whipsaw the hell out of you when Price is moving sideways. Also note that you must wait for the close of the candle to confirm that Price has crossed to the other side, as only the close confirms whether a flip takes place or not (it can go back and forth during the current candle).

---

BTW... my Non-Lags did not show 3 red lights until 8 or 9 bars later, when Price broke Support. My 15 non-Lag showed yellow at the time of your trade. The yellow lights signal non-dierction, so I'd rather wait. When price really moves, they will turn red or green, and entry will not be too delayed (in my experience). I posted these non-lags earlier in the thread.

Some people don't like the yellow lights, but for me, they are a filter of sorts.

Had you entered there, the value for 3x ATR (20) at the time was also 21 pips, and you would not have been stopped out on that big bull candle 10 minutes later (probably the US Core CPI news release). However, had Price continued to move against you, you would not have lost more than 21 pips.

I also like having a 60 EMA on my chart, for the same reasons Julie and others have talked about in this thread (I think Bubola uses the Coral - from the THV system, which is also fine). I'm just on the fence about whether or not it is good enough that Price is above/below it, or if it is better to wait for a cross (which is not part of the system).

That did look like a bit of a messy session...

Spot
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 Gann Hi-lo Activator SSL.mq4   2 KB | 291 downloads
  • #295
  • Apr 18, 2011 1:17pm Apr 18, 2011 1:17pm
Quoting pipdude
eurusd short signal, entry on pullback, 1st exit +70, hit ATR.

Hi PipDude...

When you're posting your trades, would you be kind enough to note the times (and time zone) of your entries and exits? - This would be helpful for those of us in different time zones who are trying to see what it woud have looked like on our charts at the time.

I've tried to do this when I've posted my trades. I guess I'm really asking everyone if we could all do that.

BTW... I've tried that Average Daily Range indi of yours in the past, but didn't pay it much heed. Maybe I'll give it a second look. Looks narrow for EU and GU today, like they're trading outside of the range, but you could have ridden it from bottom to top on GBPAUD!

Thx...

Spot
  • #296
  • Apr 18, 2011 6:37pm Apr 18, 2011 6:37pm
Quoting spot007
Hi Vyrexus...

Setting SL is a personal thing... some people recommend having a wider SL, just to give the move some room to play.

1. One option is to use an ATR multiple. Look at your info panel in the top left corner of your chart ("THV V4 Info")... at the bottom, you see 3x ATR SL. The number beside it is 3x the current candle's ATR (20 Period ATR). When you enter your trade, you can glance at this figure, and set your SL to that (it is wide enough to give the trade some room); at the time of your trade, 3x ATR (20) would have been 21 pips....
thanks you very much spot,
really appreciate your feedback.i would give a try your recommendation. before this i just upload the thv info indicator, without knowing the functions.

vyrexus.
  • #297
  • Apr 18, 2011 11:33pm Apr 18, 2011 11:33pm
eurusd signal short entry 0145 gmt.
  • #298
  • Apr 19, 2011 2:37am Apr 19, 2011 2:37am
eurusd short stopped out +0, long signal entry 0615 gmt.
  • #299
  • Apr 19, 2011 4:26am Apr 19, 2011 4:26am
how u guys doin with this system.... ?
  • #300
  • Apr 19, 2011 5:37am Apr 19, 2011 5:37am
Quoting pipdude
eurusd short stopped out +0, long signal entry 0615 gmt.

Hi Pipdude,

I think may have your gmt times wrong, the long signal and then entry was around 7.35am gmt and entry around 8.30am gmt after London open. My broker is +1 gmt.

Anyway I would prefer charts to be posted rather than times on here as it is of no use for people reading the thread at later dates if they have to go hunting for gmt times and have no chart for reference or view.

I exited both my longs in euro and pound, was trying to stay in and not get edgy at the pivots where I would usually exit. But I have your ATR levels indi and pound just touched the H4atr line so I exited there. Not sure what the different lines are and what the labels mean.

Notice the signals and entries before London open failed and were stopped out. I will consider waiting for London open for more reliable signals.

J
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