I've applied the colour MA to the chart and it's nowhere near as clear cut and easy to use. I may have to think again about this.
Profitable Dual ChannelBand System 51 replies
Trendlord EA Daily System 34 replies
Dual MACD Method 11 replies
Dual monitors? 22 replies
DislikedI checked and agree the indi does repaint the previous bar at times. Back testing will be an exercise in futility.Ignored
DislikedI've applied the colour MA to the chart and it's nowhere near as clear cut and easy to use. I may have to think again about this.Ignored
DislikedVery interesting.... how would you handle news? With a SL 30 you might get taken out on a news spike unless you're nicely in profit.
Looks like this might lend itself to an EA for backtesting purposes.
Nice find.Ignored
DislikedI've applied the colour MA to the chart and it's nowhere near as clear cut and easy to use. I may have to think again about this.Ignored
DislikedMaybe you should give MACD histogram a try. It very clearly shows whether MAs converge or diverge (and there are custom MACDs, which show it in color) and cross.
I use such an entry confirmation as a part of a system that I am currently testing. I can attach a screenshot if you want (I do not want to litter your thread).Ignored
DislikedAll it is is a pullback system.
On a long, price has to be above the 150 lwma. So trendlord 150 is blue. Now we wait for it to pullback (and in trendlord case actually Close below the 5 lwma). Once price Close Above the 5 lwma the 5 Trendlord turns blue and you enter the trade.
You don't need Trendlord, you don't even need the color MAs. You just need the LWMAs plotted.
You are looking too hard at the indicators and not thinking about the logic of what is happening. Why is trendlord changing color etc.
He puts a delay in the coloring of...Ignored
DislikedBe nice to have the exact MAs plugged onto the chart in that case but the 150 and 5 do not give exactly the same thing ?
How can we plug a LWA of a LWA ?
Somebody would have a ex4 of it ?
Thanks
zaba1Ignored
DislikedThanks but not sure how to do so in practice ....
How about the 5 ?
Thanks for your help
zaba1Ignored
DislikedBy having a trendlord set à 5 and another at 150, what you are doing is equivalent at looking at trendlord set at 5 on a higher timeframe for direction and pick entry from trendlord set at 5 on shorter timeframe. I'LL give you an example.
If you open a daily chart with trendlord set à 5, then you open a 1 hour chart with trendlord also set at 5. You pick direction from the daily chart and take entry that goes along on the 5 minutes chart. Now if I want to do the same thing but using only one chart, on the 1 hour chart, I add a seond trendlord,...Ignored
DislikedWell, I'm not suggesting that you should start to chase an indicator to replace it.
But I see that you are already using stochastic, mayby you could try with it. Alexander Elder, who wrote Trading for a living suggest to pick direction on timeframe 6 yimes higher than the one used for entry. So for entry on hour, just try using a second stochastic with settings multiplied by 6, you like it fine, else forget it.
An indicator is calculated from price, so it is always lagging. People try to make new indicator that lag as less as possible, many...Ignored
DislikedI've had a play around with a chart and to be honest I think I'm better off just trading it the way I was doing. Big round number s/r, local s/r, trendlines and stochastics. When the stochs cross in the direction of the overall trend and in the OB/OS area and you are not trading into strong s/r then take the trade. The cross and or confirming PA must occur somewhere near a s/r level like a trendline. Don't lose too much when you lose, 20 to 30 pips, stay in until the stochs move up/down against the trend, usually good for 60 to 120 pips.Ignored
DislikedThe key is to use price action at support and resistance, trade with the trend and keep your losses small. I'm sure I'm the first person to ever think of thatIgnored