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ALF revisited - simple, effective daytrading

  • #1,161
  • Aug 12, 2010 6:45am Aug 12, 2010 6:45am
Friends: I made a post several months ago about starting a skype room. It doesn't exist, I can't delete the post, so please don't contact me to join the room. I am a big believer in this system and use it every day.
  • #1,162
  • Aug 20, 2010 4:12pm Aug 20, 2010 4:12pm
Hi Traders

Sorry I haven't had much time to work on the alert as I promised as I have been spending most of my free time working on a similar one over on the THV thread. It looks like it may have potential so if you want to give that one try just pop over to the THV forum and go to post 19957. If your not familar with the THV forum it is a manual M1 trading method developed by Cobra and others, if you like it you should try and read the entire thread. The thread is quite long but is very good and has a lot of very good info.

Good Luck
  • #1,163
  • Aug 21, 2010 4:06pm Aug 21, 2010 4:06pm
I will have a look as I was looking forward to the one you were going to do here
  • #1,164
  • Oct 18, 2010 2:06am Oct 18, 2010 2:06am
Lou G,
Thanks for the detailed information, I appreciate the simplicity message in the trade signals. In the spirit of staying away from indicator overload, is there a way of tracking an indication of the pip-distance from the alf line to measure overbought/oversold = possibly help in exploiting attractive "take profit" opportunities when managing a trade that is running?
  • #1,165
  • Nov 11, 2010 11:17pm Nov 11, 2010 11:17pm
Quoting staw
Thanks Lou G for the great system !
I just have one problem with ALF_alert indi-it only gives alert one time after I open my mt4 platform. The next arrows appears without any alert. Is it any way of fixing it so it gives a "sound alert" every time a new arrow appears?
I am having the same problem. I am using it at M1 and it only alert me for the first arrow. Really hope someone can clarify this.
A million thanks for Lou for posting this thread.
  • #1,166
  • Nov 24, 2010 5:10am Nov 24, 2010 5:10am
Quoting Lou G
Why a new thread?
1. The original (over 1000 posts) is too long - discouraging for new participants.

2. The ALF method is herein improved and simplified. It will be more effective over different timeframes without the need to modify indicator settings.

Currency Pair And Timeframe:

Any pair, any timeframe.

What is ALF?

Adaptive Laguerre Filter - an indicator created by John Ehlers . It is a superior overbought/oversold tool. There is a free technical paper at Ehlers' website...
Really a great job!!!! I like the simplicity,the TF used and all the explanations that go with it.BRAVO!!!!!!!
  • #1,167
  • Edited 5:10pm Jan 27, 2011 2:08pm | Edited 5:10pm
great thread.
  • #1,168
  • Jan 28, 2011 3:50pm Jan 28, 2011 3:50pm
this strat doesnt need any other indicators, just an understanding of price action, basic support resistance, pivot points,

If you understand the basics of how price moves on a chart, any chart, you can make pips with this strategy.

for instance:

123 reversals, continuation
pin bars
engulfing paterns
double tops

I have been trading this way but without the ALF, and after some testing it seems to get me in perhaps earlier and makes an excellent stop when in a strong trend move, I will post some charts over the weekend to show you how i trade...

big respect to lou, great example of how basic price action and 1 indicator is perhaps the best of both worlds
  • #1,169
  • Feb 5, 2011 5:05pm Feb 5, 2011 5:05pm
Awaiting the charts
  • #1,170
  • Feb 8, 2011 2:00pm Feb 8, 2011 2:00pm
A great system...
but it's needs good understanding of price action...
I recently put on the same chart (5m tf) 6 ALFs

they are working like a very good dynamic resistance and with the entry
on the 5m alf, there are some interesting setups together with the
other alfs

we still need daily and weekly pivots+ fibos

I am still trying to get something out of this ...i think there is good potential
try it on your own charts...
then check how the price action reacts with mtf ALFies and pivots...


5m (our entry alf)
15m
30m
60m
240m
daily
  • #1,171
  • Feb 24, 2011 12:22pm Feb 24, 2011 12:22pm
I'm new to this forum. Have loaded all the indies and template. But my chart only shows candles in black & white. Any suggestions? Tks.
  • #1,172
  • Feb 25, 2011 10:48am Feb 25, 2011 10:48am
Quoting Walsanshu
I'm new to this forum. Have loaded all the indies and template. But my chart only shows candles in black & white. Any suggestions? Tks.

Try to go to the indicators list and change the color.
  • #1,173
  • Jun 23, 2011 1:47pm Jun 23, 2011 1:47pm
Hey ya ever get back here, just wanted to give you a big Thanks. I learned more about myself then I did about trading. Once again Thanks.
  • #1,174
  • Aug 16, 2011 2:28am Aug 16, 2011 2:28am
Hello, the IT_candles is not properly working, it only shown on the bull candles but not on bear candles - I had attach the picture to depict the problem and I had tried all of the IT_candles indicator on this thread on multiple mt4 broker platform but still no bear candle shown. Actually it is kind of weird because I had been using this It_candles for quite sometimes without any hitch, until last week my hard disk when died.

So guys as a reminder please do back up your data while trading and don't be like me.
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  • #1,175
  • Sep 20, 2011 8:53am Sep 20, 2011 8:53am
there is no ea for alf?
thanks
maximekaribi
  • #1,176
  • Oct 12, 2011 6:47pm Oct 12, 2011 6:47pm
Hi Lou,
This is Rick. I am new to this site and don't really know how to send a message to any member. I hope this one works.
I am very interested in finding a good Renko indicator for MT4 (like the one Shabs has). I have downloaded a few of them on the net but the problem is some of them doesn't convert the bars into boxes and nothing actually happens when I drag them to the chart. Why is that?
I could find one that seems to work but is very price sensitive and I don't know how to adjust the pips as it doesn't have any properties.
Is there any good Renko you could suggest?
I really appreciate that.
Rick
  • #1,177
  • Oct 12, 2011 10:30pm Oct 12, 2011 10:30pm
Quoting rick071
Hi Lou,
This is Rick. I am new to this site and don't really know how to send a message to any member. I hope this one works.
I am very interested in finding a good Renko indicator for MT4 (like the one Shabs has). I have downloaded a few of them on the net but the problem is some of them doesn't convert the bars into boxes and nothing actually happens when I drag them to the chart. Why is that?
I could find one that seems to work but is very price sensitive and I don't know how to adjust the pips as it doesn't have any properties.
Is there...
Here's one that's worked for me, Rick. Be aware that it goes into your experts folder. Drag it onto a 1 minute chart, select your box size, click OK (be sure Expert Advisors are enabled), then go to File>Open Offline and click on the M2 chart that corresponds.
Attached File(s)
File Type: mq4 RenkoLiveChart_v3.2.mq4   14 KB | 547 downloads
  • #1,178
  • Oct 13, 2011 10:56am Oct 13, 2011 10:56am
Thank you Lou G.
However, as I said before, I am new to this so please bear with me:
1. How do I make the Experts Advisor available?
2. When I saved it to Expert folder, it didn't show up there so I had to put it in indicator folder but when I opened the offline chart, it didn't give any parameter window to adjust the size of the box.
How can I fix this problem?
Thank you.
  • #1,179
  • Oct 13, 2011 11:44am Oct 13, 2011 11:44am
Quoting rick071
Thank you Lou G.
However, as I said before, I am new to this so please bear with me:
1. How do I make the Experts Advisor available?
2. When I saved it to Expert folder, it didn't show up there so I had to put it in indicator folder but when I opened the offline chart, it didn't give any parameter window to adjust the size of the box.
How can I fix this problem?
Thank you.
Hi Rick. BTW, I'm not LouG. He's one of the advanced beings around here. I'm just one of the lower life forms.

You enable Expert Advisors with the button on your toolbar. I just got a better idea: Go to the Rockenbach System. It's on the first page of Trading Systems right now. He uses Renko and has full instructions in his thread.
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  • #1,180
  • Oct 13, 2011 1:31pm Oct 13, 2011 1:31pm
Thank you pinhead. No matter how low you are, you still higher than me
OK, I enabled the expert advisor & followed the instruction and this time it gave me a window to adjust the box size. I was so happy. but when I clicked ok, poof! no chart was generated. Do you know why???
I am getting so frustraded with this.
You also said to check out Rockenbach System. How do I do that?!
Thanks again.
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