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Simple Simon Balance Line Trading

  • #841
  • Jun 20, 2011 4:09pm Jun 20, 2011 4:09pm
Quoting CodeMeister
Checking off the list is good. Like pilots in an airplane who never trust their memories or experience and take a short cut. I used to use a script I wrote for checking my trade entry (set up bar the right height, number of pips from last swing, etc). Somewhere along the road, I stopped using it and trusted my experience. I should get back to using them.
You are dead right I stopped using my trade plans for a while but would often forget things so went back to using them. Now I won't trade without using one.
They certainly work for me

Neil
Happy trading all. Titch
  • #842
  • Jun 20, 2011 4:18pm Jun 20, 2011 4:18pm
Quoting Forex37
Hi all,
great thread, great method and great community.

I just wonder, if a dashboard (with mail/audio alerts) could be made or an existing one could be altered? If there is one, which could be used or latered easily, please let me know where I could find it.

Thanks

Forex37
I can put this together. Testing it will take time. It will work similar to the Pips2MA indicator for inputs with 12 selectable pairs. Not sure about the time frame. The strategy started off as 1H and now its 15M - 1D. Let me think about that one. This is a simple strategy, I want the dashboard to be simple as well and not like some of the monstrosities that others do.
  • #843
  • Jun 20, 2011 10:31pm Jun 20, 2011 10:31pm
Codemeister,
The strategy hasn't changed. The primary TF is the 1H. I don't recommend that newbie’s or in-experienced traders attempt to drill down to the lower time frames.

I took several 15TF trades yesterday only because I knew it was going to be a busy day for me. Plus I like the idea of scalping. I will refrain from posting 15TF trades in the future.

I don't recommend the 15tf or lower to the higher spread pairs. I like to use my Oanda platform as the highest spread I deal with (12 pairs) is 3 pips. Higher spreads make it more difficult to scalp.

For purposes of this thread the primary TF for entry should remain as the 1H or higher.

The thread is for newbie’s and experienced traders alike.

WARNING TO NEWBIES - USING THE 15TF OR LOWER COULD RESULT IN SERIOUS WHIPLASHING. PA IS FASTER ON THESE TIME FRAMES AND ANY TRIGGERED TRADES SHOULD BE MONITORED CONSTANTLY!


Quoting CodeMeister
I can put this together. Testing it will take time. It will work similar to the Pips2MA indicator for inputs with 12 selectable pairs. Not sure about the time frame. The strategy started off as 1H and now its 15M - 1D. Let me think about that one. This is a simple strategy, I want the dashboard to be simple as well and not like some of the monstrosities that others do.
  • #844
  • Jun 20, 2011 11:40pm Jun 20, 2011 11:40pm
Quoting CodeMeister
I can put this together. Testing it will take time. It will work similar to the Pips2MA indicator for inputs with 12 selectable pairs. Not sure about the time frame. The strategy started off as 1H and now its 15M - 1D. Let me think about that one. This is a simple strategy, I want the dashboard to be simple as well and not like some of the monstrosities that others do.
Hi CodeMeister

Can you make something similar as per the attached pic? I mean lets suppose the candle closes below the blue line in 1 hr time frame and also closes below the blue line in 30 mins and then finally closes below the blue line in 15 mins tf..... then only do we get a downward arrow and vice versa for candles closing above the blue lines.....I hope the attached indicator would make more sense than what I just wrote ....you would have to attach the both these indicators to the chart inorder for the arrows to appear....

Regards

Ali Raza
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Bar Indicator.PNG Size: 5 KB
Attached File(s)
File Type: mq4 4BARS-MTF-NLMA 1.03.mq4   15 KB | 452 downloads
File Type: mq4 NonLagMA_v7.1.mq4   6 KB | 394 downloads
Raza
  • #845
  • Jun 20, 2011 11:48pm Jun 20, 2011 11:48pm
Quoting Titch
Hi danbuttigieg

You are right, there is strong resistance around this area. Also if you look at the bullish candles heading towards the resistance area they are getting smaller as they approach it meaning it is loosing momentum.

I would avoid as I would imagine there would be a bounce at this area. But that is just my opinion.

I hope this helps
You were right Titch It's been hovering around all night long. Good thing this one was avoided.

Cheers, happy pippin'
Attached Image
  • #846
  • Jun 21, 2011 12:07am Jun 21, 2011 12:07am
Quoting shr5
Hi CodeMeister

Can you make something similar as per the attached pic? I mean lets suppose the candle closes below the blue line in 1 hr time frame and also closes below the blue line in 30 mins and then finally closes below the blue line in 15 mins tf..... then only do we get a downward arrow and vice versa for candles closing above the blue lines.....I hope the attached indicator would make more sense than what I just wrote ....you would have to attach the both these indicators to the chart inorder for the arrows to appear....

Regards

Ali Raza...

I can do it, but I won't do it. See Colostarr's remarks - this strategy is for 1H. Besides that I am doing a multi-currency dashboard and this kind of display doesn't fit well with that scheme. What I will do is allow the dashboard to monitor the 1H from other time frames so that if you bounce from one to another, the 1H is being monitored. The Pips2MA doesn't have that functionality.
  • #847
  • Jun 21, 2011 12:17am Jun 21, 2011 12:17am
Post #1 has been updated with behavioral rules. Please click the link to read the update from Post #1.


http://www.forexfactory.com/showthread.php?t=297418
  • #848
  • Jun 21, 2011 12:20am Jun 21, 2011 12:20am
Now THAT is perfect Codemeister. I like this idea because I have grown fond of the 15tf, but often find myself having to click back and forth from one TF to another. I have missed genuine trades while trying to monitor multiple tf's. Appreciate your time and help with that, I look forward to seeing it!

Quoting CodeMeister
I can do it, but I won't do it. See Colostarr's remarks - this strategy is for 1H. Besides that I am doing a multi-currency dashboard and this kind of display doesn't fit well with that scheme. What I will do is allow the dashboard to monitor the 1H from other time frames so that if you bounce from one to another, the 1H is being monitored. The Pips2MA doesn't have that functionality.
  • #849
  • Jun 21, 2011 12:43am Jun 21, 2011 12:43am
Quoting CodeMeister
I can do it, but I won't do it. See Colostarr's remarks - this strategy is for 1H. Besides that I am doing a multi-currency dashboard and this kind of display doesn't fit well with that scheme. What I will do is allow the dashboard to monitor the 1H from other time frames so that if you bounce from one to another, the 1H is being monitored. The Pips2MA doesn't have that functionality.
sounds good to me can't wait for it!
Raza
  • #850
  • Jun 21, 2011 1:16am Jun 21, 2011 1:16am
So frustrating when price hovers backwards and forwards at 50 and 00 levels - still it's all part of the game.
  • #851
  • Jun 21, 2011 2:58am Jun 21, 2011 2:58am
AUDJPY setting up on the hourly.
  • #852
  • Jun 21, 2011 3:31am Jun 21, 2011 3:31am
great thread love the methodology
  • #853
  • Jun 21, 2011 3:33am Jun 21, 2011 3:33am
Price is SIDEWAYS today
  • #854
  • Jun 21, 2011 3:45am Jun 21, 2011 3:45am
One to watch though
GBP JPY just breaking out of a pinch congestion on 4hr and 1 hr
Happy trading all. Titch
  • #855
  • Jun 21, 2011 4:03am Jun 21, 2011 4:03am
Probably I'm missing something here or I've lost the plot (old age does that to you). This morning on EU M15 a long was triggered. The last two red candles have touched the balance line yet long still in play. Does the candle have to take out the stop loss before any reverse signal ?
  • #856
  • Jun 21, 2011 4:22am Jun 21, 2011 4:22am
Quoting Colostarr
Price is SIDEWAYS today
Everyone is waiting for the result of the vote of confidence for Greek Government scheduled for later Tuesday. Depending on the result, we will see spikes on EURUSD.
  • #857
  • Jun 21, 2011 4:26am Jun 21, 2011 4:26am
Short on GJ and AJ.
  • #858
  • Jun 21, 2011 4:26am Jun 21, 2011 4:26am
I'm in on that pair from the 1H

Quoting Titch
One to watch though
GBP JPY just breaking out of a pinch congestion on 4hr and 1 hr
  • #859
  • Jun 21, 2011 4:32am Jun 21, 2011 4:32am
Hi everybody,

Today is a day to test our patience! almost everything is sideways for now, and that's where I do lose my profits made.

cad/chf, aud/jpy, gbp/usd, and gbp/jpy are all around the balance line.

happy trading
  • #860
  • Jun 21, 2011 4:35am Jun 21, 2011 4:35am
Do you know what time it is supposed to be released?

Quoting Blackeagle
Everyone is waiting for the result of the vote of confidence for Greek Government scheduled for later Tuesday. Depending on the result, we will see spikes on EURUSD.
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