CHOROS Interactive

I see, very interesting. On the other hand, the previous H4 Bar closed as a PinBar at Daliy R1, that could make the parice fall for a few pips.

But we are against the H4 trend so TP should be small in this case.

The trend calculation is also complicated in this indicator. Currently I'm using the slopes of the 100EMA 15M, the 50EMA 15M and 10EMA15, each with a relevant weight of 20%, 60% and 20% respectively. I also use their absolute values so that a pair that travels fast up and fast down has better trend score than one that is ranging in a narrow channel, even though they may both have a flat EMA 50. I have experimented with many MAs in order to find something that would describe the trend accurately, and finally I think that something based on the 15M is better suited to trading the 15M. MAs of higher timeframes are currently being taken into account as support or resistance levels. I'll probably add in the future some factor that will account for specific candle formations in the higher timeframes.

3rd trade today
EUR/JPY M15

Micheel,

Thank you for sharing your trades, you are doing very well.

Please remember rule #3 of this thread; post only BEFORE taking the trade, then as rule #6 states: Only if an upcoming trade alert has already been posted, it is OK to discuss it after the fact...

If we follow that rules, all of us get the benefits of this great thread.

Happy trading.

2011.07.22 19:26:14 gbpjpy: Sc75>buy@ 127.8750>pe10>ma10>bt10>rt10*128.0160>no10>sz5>tr0>rs10>sp0>rc0>cw0>pt0>bl10>lv-10

Just hit the take profit. Not bad for a Friday and at an hour that is dead for both currencies.


This is hovering a couple of pips below the stop loss but it still fighting the good fight after 4 hours

Overall a good day for the monster. I didn't count because it's far from ready yet, but it was probably at about 10 wins and 2-3 losses. Some heavy work to be done on the weekend, I'll be adding the code to evaluate signals from confluences.

In some pairs I will also be adding pivots from other pairs. I think they greatly enhance confluences. Eg the EURUSD will be having a moving pivot level that will be representing the GBPUSD pivot. When EURUSD price is touching that level, this will mean that the GBPUSD is touching its pivot. I suspect a confluence of pivots from relevant currencies is very strong. I'll have to backtest it sometime.

I was able to spot some of the trades you posted with the monster (nice nickname btw) and even tho' you say it doesn't usually give that many signals it must be a nice aid in spotting opportunities you haven't seen... nice work mate!

Actually it follows the sentiment of the markets. Sometimes it will stay quiet and othertimes it will give 5 signals in a minute. When the market moves it moves. Many currencies generate signals at the same time.

But this being the test phase I still don't know how to evaluate the scores each morning, because the previous day I have usually changed the scoring system. So what was a good score yesterday today may be a bad score. All things need to be finished before I can run a good backtest.

Yes I know what you mean about the scoring part, I've found it is one of the most difficult parts in assemblying a trade score system to filter bad trades, I've experimented with an extended version of the original Dance Trade Checklist (in no way as advanced as your monster) and find out that the scoring system which will help to take away most of the personal bias is the most dificult part...

there's road to walk still, but you have a nice start IMO

The touches off MAs are now evaluated according to:

1) The period of the MA. Larger periods are stronger
2) The slope of the MA.
3) The number of bars it takes for a touch
4) The size of the retracement (too big or too small weaken the signal)
5) How many times price has touched that MA in the current trend
6) The size of the last retracement candle, weakens the signal if larger than the previous candle
7) The general trend of the pair based on several MAs
8) Support levels behind the trade
9) Resistance levels ahead of the trade
10) Agreement with the daily regression channel slope
11) Proximity to regression channel walls
12) Trend relatively to other pairs
13) Bars to the left (how uncluttered is the area)
14) Position in the ladder (the ladder is a list of all MAs I use, the proximal round numbers, the pivots, the trendlines, the previous day/week/month highs and lows etc)
15) In what degree the price is forming higher highs and lower lows
16) Whether the slope of the MA or the size of candles is decreasing

I basically want to add things that are universal and unequivocal. I could also add automatic Fibonacci levels but there are so many ways to draw Fibonacci on so many timeframes that I don't think they are useful. I'm thinking about adding a couple of indicators as well (MACD, Stochastic, CCI) with the default Metatrader settings. If it's something that many people use it could have some value as a confirmation signal, and with the standard settings it shouldn't be as equivocal as the Fibonacci. I'm not sure about this yet. But I will certainly add evaluation of previous candle patterns from higher timeframes. Candle patterns from lower timeframes are currently being reported but not evaluated yet.

That's for touches. There will be different sets of filters for trading directly confluences and constrainments. And the relevant weight of each filter should be changing when the market is ranging, eg on such days the regression channel walls should carry more weight.

Very well done micmic, keep on the good work. I’m posting comments about The Monster on the CHOROS system thread where we can continue our discussion on this technical topic. That way you can continue posting The Monster Signals here and we can continue talking about programing stuff on the other thread.
You are doing a great job.

Nothing waiting???

GBP H4 35/50? with D1 10/35/50?

USDCHF.M15.E10 Touch?

The indi just gave this, but I don't know yet how good a score 65 is for today

2011.07.25 09:48:14 GBPUSD MA Touch SC:65>BUY 0.8L @1.6306 TP=1.6323 SL=1.6289

You got a winner for this? It is a touch trade which MA???

Meshing MAs...not a real trend, I wouldn't touch the trigger. You better trust your mind...This is my OPINION

Nope, that would be a loss. It was going ok until London opened. I'd have to code something that prevents trades from being active at London open.

Eurjpy.m15.e10.t
usdchf.m15.e10.t

usdchf historical low ????

plus Eurjpy.m5.e10.t

No real trend in EU, GU now.
EU is trying to develop a short trend, if it does, then M5 10, M15 10 would be good scalps. Longer term, if we reach WP (1.4268) there is the Daily 10 there, along with H4 50/62, Daily S2, so there should be an opportunity long.