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Price Action Trading with Indicators! The Freebie System

  • #2,041
  • Apr 30, 2011 5:55am Apr 30, 2011 5:55am
I downloaded the tpl attachment that you posted but it has no lower indicator window when I attach it to my MT4, could you give me the link for that please or is it one of the standard MT4 ones?
  • #2,042
  • Apr 30, 2011 6:10am Apr 30, 2011 6:10am
are you talking about the HA ind ?

here it is


Load it in your MT4 close it down and apply the template again..it should then pick up this ind and apply it

cheers

P
Attached File(s)
File Type: mq4 %23Heiken%20Ashi_SW.mq4   4 KB | 689 downloads
  • #2,043
  • Apr 30, 2011 7:10am Apr 30, 2011 7:10am
Quoting Paulus
are you talking about the HA ind ?

here it is


Load it in your MT4 close it down and apply the template again..it should then pick up this ind and apply it

cheers

P

Cheers, that's the one, all sorted now and ready for kick off on Tuesday.

Can I just confirm with you the pairs that you trade, is it just EU, GU, AU & UC or do you watch different pairs at different times of the day?

Sorry for the questions but I'm trying to get as close to your set up as possible in an attempt to duplicate the obvious success that you appear to be enjoying
  • #2,044
  • Apr 30, 2011 9:21am Apr 30, 2011 9:21am
Quoting Paulus
Hmm ..my broker is GMT +2 not 3 when I start trading at 8am here in the UK my chart time is 10am

therefore at midnight here my chart time shows 2am

So I thought -2 brings broker time calculation back to midnight UK

Is this not right do you think ..

P
Sorry Paulus;
If your broker for charts, itīs FXDD Malta, is GMT + 3, not 2.
  • #2,045
  • Apr 30, 2011 9:35am Apr 30, 2011 9:35am
Quoting chaveznqoos
Sorry Paulus;
If your broker for charts, itīs FXDD Malta, is GMT + 3, not 2.
I can't even match up with what Paulus has on his charts, i'm using FXCM and have tried Go Markets.

Seems strange though as what ever settings Paulus is using seem to be about right.

I was advised to check my points here, would you say the points on here are about right?

http://www.actionforex.com/markets/pivot-points/standard-pivot-points-2010040848154/
  • #2,046
  • Apr 30, 2011 10:16am Apr 30, 2011 10:16am
Quoting stochman
is it just EU, GU, AU & UC or do you watch different pairs at different times of the day?

You got it

P
  • #2,047
  • Apr 30, 2011 10:20am Apr 30, 2011 10:20am
Quoting chaveznqoos
Sorry Paulus;
If your broker for charts, itīs FXDD Malta, is GMT + 3, not 2.

I dont get this ...my old pivot indicator started a new set of lines every day so it is easy to check what times they are calculated on

here is a screen shot with a setting of -2 I have drawn a vertical red line at midnight UK time which is 0.2.00 chart time which is correct

Which means a setting of -2 is correct

Cheers
P
Attached Image (click to enlarge)
Click to Enlarge Name: old pivot.gif Size: 27 KB
  • #2,048
  • Apr 30, 2011 10:26am Apr 30, 2011 10:26am
OK, Paulus .
Sorry and Thanks.
  • #2,049
  • Apr 30, 2011 10:31am Apr 30, 2011 10:31am
Quoting chaveznqoos
OK, Paulus .
Sorry and Thanks.

No worries ..I may be wrong to be honest I really dont know ..but with -2 my lines srat a new at midnight Uk time

P
  • #2,050
  • Apr 30, 2011 10:54am Apr 30, 2011 10:54am
Paulus other question;
When you open a first position is clear that your risk 5 % on the initial balance .But, if the first position is still active, and enter a second position, your entry is the 5 % over the current Equity (whether negative or positive from the initial balance). ??
Sorry for my bad English. (I'm from Spain).
Cheers
  • #2,051
  • Apr 30, 2011 10:57am Apr 30, 2011 10:57am
Quoting chaveznqoos
Paulus other question;
When you open a first position is clear that your risk 5 % on the initial balance .But, if the first position is still active, and enter a second position, your entry is the 5 % over the current Equity (whether negative or positive from the initial balance). ??
Sorry for my bad English. (I'm from Spain).
Cheers
yes thats correct

P
  • #2,052
  • Apr 30, 2011 11:22am Apr 30, 2011 11:22am
Ok, I have my set up sorted I think!

I have fib AND camarilla pivots switched to true to see if it offers more entry opportunities than camarilla only.

One question, with this set up, as I have it, I can't see any way of having an audible set up alert, do you have any audible set up alerts attached to your charts?

By the way I also attach an M15 chart which maybe highlights even more so how effective this chart set up can actually be

If you could have a peek and comment I'd appreciate it
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu m5 30-04-11 paulus 1.gif Size: 19 KB
Click to Enlarge Name: GU m15 30-04-11 paulus 1.gif Size: 21 KB
  • #2,053
  • Edited 1:36pm Apr 30, 2011 1:09pm | Edited 1:36pm
Quoting Paulus
I dont get this ...my old pivot indicator started a new set of lines every day so it is easy to check what times they are calculated on

here is a screen shot with a setting of -2 I have drawn a vertical red line at midnight UK time which is 0.2.00 chart time which is correct

Which means a setting of -2 is correct
So, it sounds like you actually want to calculate the pivot lines based upon London (currently GMT+1) time.

Compare your old pivot indicator with a shift of -2 to the camarilladt indicator with a shift of +2. They should agree with each other.

There are multiple ways of calculating pivots while accounting for time zone shifts. In this case, your old pivot indicator and the camarilladt indicator use the time zone shift setting differently. Thus, what is correct for one indicator is not necessarily correct for another.

For the camarilladt indicator, the author's intent was probably to always display the pivot lines in GMT. So, they wanted the user to input the number of hours their broker differs from GMT. But in your case, you want to display the lines in London time (currently GMT+1). Since your broker's time differs from London time by 2 hours, you would input a +2. It is a +2 (not -2) because the way the calculation is done in this indicator.

During Daylight Saving Time, London is GMT+1, your broker is GMT+3
During Standard Time, London is GMT, your broker is GMT+2.
  • #2,054
  • Apr 30, 2011 1:44pm Apr 30, 2011 1:44pm
Baking my head this is.

I use the same settings as Paulus and have even downloaded FXDD and i get different pivots to him. Im not saying his are correct but fined it strange i can't reproduce the same. LOL.

I can get standard pivots pretty much spot on using a -2 time shift as referenced here and different indicator,

http://www.actionforex.com/markets/pivot-points/standard-pivot-points-2010040848154/

I can get the camarilladt indicator to match the standard indicator using a time shift of +2.

Sorry if have confused any one.
Attached Image (click to enlarge)
Click to Enlarge Name: to.gif Size: 55 KB
  • #2,055
  • Apr 30, 2011 8:45pm Apr 30, 2011 8:45pm
I always use the p4l clock indy which tells you(amongst other things) the gmt time---your broker time and to make sure its right ---your local time.
So I assumed with my broker being gmt+2 to set camarilla to that.
Funny thing is with Paulus being profitable with his settings -which could be wrong--makes me wonder how important in the end is camarllia.
p4l is easily found under search.
We are all One. Be present. Be the Observer
  • #2,056
  • May 1, 2011 3:21am May 1, 2011 3:21am
This indi no GMT. Automatically. http://www.forexfactory.com/showpost.php?p=4550167
  • #2,057
  • May 1, 2011 3:45am May 1, 2011 3:45am
Well interesting considering how successful Paulus is. Been doing some searching and it seems the most accepted time for the end of the day is the close of NEW York, which is 5.00 EST or 22.00 GMT.
  • #2,058
  • May 1, 2011 6:03am May 1, 2011 6:03am
Quoting Iamfx
I always use the p4l clock indy which tells you(amongst other things) the gmt time---your broker time and to make sure its right ---your local time.
So I assumed with my broker being gmt+2 to set camarilla to that.
Funny thing is with Paulus being profitable with his settings -which could be wrong--makes me wonder how important in the end is camarllia.
p4l is easily found under search.

This is a point Ive often thought of ..how critical are these pivots that are calculated on yesterdays data.

Why not use a set of figures that will be constant no matter where you are

here is a chart showing a simple fib retracement set of lines
The fib is drawn simply using yesterdays hi and lo


Use the same criteria for entries we get the following signals and the result being 18.8% return on account

P
Attached Image (click to enlarge)
Click to Enlarge Name: fib.gif Size: 28 KB
  • #2,059
  • Edited 7:52am May 1, 2011 6:45am | Edited 7:52am
How does it match up with your other crosses for the day.
  • #2,060
  • May 1, 2011 8:37am May 1, 2011 8:37am
Quoting neil324
Well interesting considering how successful Paulus is. Been doing some searching and it seems the most accepted time for the end of the day is the close of NEW York, which is 5.00 EST or 22.00 GMT.
Yes it is interesting. I'm sure we can all agree that the use of pivots based upon the day open/close of Islamabad, Pakistan (GMT+5) is probably not a common practice around the globe.

You would certainly think using the most "popular" values for the day open/close would give you the most "followed" values and, thus, the best performance.

However, it's starting to seem like 4-5 random lines on the chart would be as significant as some of these pivot/camarilla lines.
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