Price Action Trading with Indicators! The Freebie System | Page 164 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,261
  • Jun 27, 2011 2:50pm Jun 27, 2011 2:50pm
Quoting Lizardman
Hi guys!

I have a little problem with my PivotsForFreebie indicator. I tried everything, what i can do, but still nothing!

maybe due to sunday candle
No man is free who is not a master of himself. -P.M.-
  • #3,262
  • Jun 27, 2011 2:56pm Jun 27, 2011 2:56pm
I don't know what the hell is this, but in H4 and higher TF is everything alright!

H1 and lower TF's are still sucks... (you can see in the picture)

Any ideas?
  • #3,263
  • Jun 27, 2011 3:15pm Jun 27, 2011 3:15pm
Quoting Lizardman
Hi guys!

I have a little problem with my PivotsForFreebie indicator. I tried everything, what i can do, but still nothing!
I better answer this one. Yes it is the Sunday data is telling the indicator that the whole previous day's range is just 2 bars. The higher TFs use Weekly and Monthly so it's not an issue there. It will work fine tomorrow but I need to add some code to either ignore Sunday or combine it with Monday. Probably ignore is best. I'll work on it this week.

Also note that the Sunday data will mess up Daily Range calculation too and anything else D1 related so you might just want to download a demo from a broker who doesn't show Sunday data separately just for your indicators and then trade on your preferred broker.
  • #3,264
  • Jun 27, 2011 3:20pm Jun 27, 2011 3:20pm
Quoting balrog
Sorry Dredding I don't quite get you there!! Do you mean the last trade on the eurusd chart? If you do then that was a short trade which failed. My AU trade was also a short and that failed too.

Balrog.

DOESNT matter which way your trying to trade....THE RANGE IS OVER....NO VOLUME.....which means CHOPPY MARKETS ON THE LOWER TFS..........
  • #3,265
  • Jun 27, 2011 3:22pm Jun 27, 2011 3:22pm
Quoting ericjschroed
I better answer this one. Yes it is the Sunday data is telling the indicator that the whole previous day's range is just 2 bars. The higher TFs use Weekly and Monthly so it's not an issue there. It will work fine tomorrow but I need to add some code to either ignore Sunday or combine it with Monday. Probably ignore is best. I'll work on it this week.

Also note that the Sunday data will mess up Daily Range calculation too and anything else D1 related so you might just want to download a demo from a broker who doesn't show Sunday data separately...
Thank you the answer, and I'll be waiting for the newest pivots indi from You!
  • #3,266
  • Jun 27, 2011 3:29pm Jun 27, 2011 3:29pm
Quoting Dredding82
DOESNT matter which way your trying to trade....THE RANGE IS OVER....NO VOLUME.....which means CHOPPY MARKETS ON THE LOWER TFS..........
Understood.. thought you were trying to say I shouldn't have gone long

Balrog.
  • #3,267
  • Jun 27, 2011 4:39pm Jun 27, 2011 4:39pm
Quoting balrog
Thanks Paulus for your reply. It's an interesting point.. so it was the semafor above the signal candle that stopped you from making the trade. I hadn't worried before if I get a semafor on a signal candle as it can be replaced on the next candle in a continuation of the trend. In any case it was a loss for me and the next short on eu was also a loss


Balrog.
let try Not take trade entry when Semaphor is on top/bottom of Single bar. I got same problem with yours. Paulus might just point out the filter. let see what happen.
  • #3,268
  • Edited 10:32pm Jun 27, 2011 6:33pm | Edited 10:32pm
Ok, here is the updated PivotsForFreebie. You can now include Sunday data with Monday or ignore Sunday and use Friday if there are Sunday bars.

Edit: I didn't realize there was a time limit on editing my own posts to I can't remove the first indicator. Hopefully no new visitor to this thread will download the first one and then complain that it's not working right on Monday's because they didn't read the whole thread... ya think?

Edit2: Added option to include Sunday data on Monday, or ignore Sunday.
Attached File(s)
File Type: mq4 PivotsForFreebie.mq4   9 KB | 592 downloads
  • #3,269
  • Jun 27, 2011 7:13pm Jun 27, 2011 7:13pm
Im selling the Eur/Usd on the 15 minute chart. I got in a couple candles early but the gray line should have been my entry. It looks like it may be a good entry because not only did it fail at the pivot but Im also noticing that when fib extensions are hit and pivots fail then these become pretty good places to place trades.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpg Size: 133 KB
  • #3,270
  • Jun 27, 2011 7:39pm Jun 27, 2011 7:39pm
Quoting Checkz
Im selling the Eur/Usd on the 15 minute chart. I got in a couple candles early but the gray line should have been my entry. It looks like it may be a good entry because not only did it fail at the pivot but Im also noticing that when fib extensions are hit and pivots fail then these become pretty good places to place trades.
I gonna wait and take a buy on the EurUsd!
Damn The Torpedoes, Full Speed Ahead!
  • #3,271
  • Jun 27, 2011 8:04pm Jun 27, 2011 8:04pm
Quoting balrog
Understood.. thought you were trying to say I shouldn't have gone long

Balrog.

No any trade is good aslong as there is still room with the Daily Range....once it has been hit then the chances of price moving any farther is less likely. So once the Range for the Day has been hit or is real close i try not to trade since it wll more then likely end up a loser ...
  • #3,272
  • Jun 28, 2011 12:24am Jun 28, 2011 12:24am
Closed trade out with a 22 pip profit
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpg Size: 102 KB
  • #3,273
  • Jun 28, 2011 1:42am Jun 28, 2011 1:42am
Quoting ericjschroed
Ok, here is the updated PivotsForFreebie. You can now include Sunday data with Monday or ignore Sunday and use Friday if there are Sunday bars.

Edit: I didn't realize there was a time limit on editing my own posts to I can't remove the first indicator. Hopefully no new visitor to this thread will download the first one and then complain that it's not working right on Monday's because they didn't read the whole thread... ya think?

Edit2: Added option to include Sunday data on Monday, or ignore Sunday.
Thank you very much!
  • #3,274
  • Jun 28, 2011 1:45am Jun 28, 2011 1:45am
GU Short

All conditions met. Just worried that tp is a bit too far away.
Attached Image (click to enlarge)
Click to Enlarge Name: gu28062011.gif Size: 29 KB
  • #3,275
  • Edited 2:10am Jun 28, 2011 2:05am | Edited 2:10am
Quoting oblo
GU Short

All conditions met. Just worried that tp is a bit too far away.
Hey Oblo, look back at those prior down legs and see how many pips they ran. History repeats. So if the downleg on which you entered is going to continue likewise, you can see about where to expect it to end.

Looks to me like they run about 20 pips. That is about the distance between the pivot lines.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,276
  • Jun 28, 2011 2:49am Jun 28, 2011 2:49am
First trade today on the AU, hoping to get to H3 and 2%. Still in it and hoping to claw back some of yesterdays damage.

Balrog.
Attached Image
  • #3,277
  • Jun 28, 2011 2:51am Jun 28, 2011 2:51am
It didnt work. SL taken. I still have to figure out how to determine the right tp.
Quoting DrDave
Hey Oblo, look back at those prior down legs and see how many pips they ran. History repeats. So if the downleg on which you entered is going to continue likewise, you can see about where to expect it to end.

Looks to me like they run about 20 pips. That is about the distance between the pivot lines.

DrDave
  • #3,278
  • Jun 28, 2011 3:05am Jun 28, 2011 3:05am
Quoting oblo
It didnt work. SL taken. I still have to figure out how to determine the right tp.
I took a similar short on the EURUSD (It was NOT acccording to the rules of the thread--no failed pivot. I used prior S/R areas for the entry after lower H and break of prior low). I set TP to 5 pips above the Pivot line. Price came down only to 8 pips above the pivot, then made this big up move and stopped out.

The "rules" in this thread for the Freebie system are to set TP to the next Pivot line OR an obvious area of S/R.

DrDave

Edit: By the way, I looked closely at your chart. I have the the midpivots displayed, but you do not. If you would have set your TP to M2, you would made it. As you already said, S1 was rather far away.
To free Gazans of Hamas, use whatever it takes.
  • #3,279
  • Jun 28, 2011 3:16am Jun 28, 2011 3:16am
Oblo,
Maybe you'll get a chance to recover some of those pips from the GBPUSD fail by going long. If the M5 chart bounces off the Pivot, which happens to be the 38% Fib retracement, should make a nice buy.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,280
  • Jun 28, 2011 4:07am Jun 28, 2011 4:07am
Quoting oblo
GU Short

All conditions met. Just worried that tp is a bit too far away.

Are you sure? did you hit TP? WOW...i think you just might have! lol
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