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Bollinger Bands & SMA for the 1Min & 5Min Charts 29 replies

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Bollinger Band stop reverse 1min

  • #41
  • Oct 27, 2011 1:33am Oct 27, 2011 1:33am
Quoting pedross
Hi Jiva/James, if you put a 250 SMA on the 1M it will save switching to the 5M 50 SMA to check for the 16 pip difference...

Pete
another way to do it is to set levels for the 50sma.
attached:
color ma
template
and a simulator for practicing...
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 MAColor.mq4   4 KB | 642 downloads
File Type: mq4 Training2.mq4   15 KB | 568 downloads
File Type: tpl ganntest.tpl   503 KB | 613 downloads
  • #42
  • Oct 27, 2011 1:51am Oct 27, 2011 1:51am
Looks like the settings maybe a little different for different pairs according to how they have been trading in the not too distant past.
UJ for instance looks better at +8 pips from the 50sma rather than +16 pips.
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  • #43
  • Oct 27, 2011 3:08am Oct 27, 2011 3:08am
I really like the bbstop system.
the only thing is, the market needs to be really moving.
Lots of action.
I added the 15ma, just for visual reference.
Also the 200ema. A powerful area of support and resistance on any time frame.
bbstop is super super simple. just need a lot of action.
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  • #44
  • Oct 27, 2011 11:18am Oct 27, 2011 11:18am
All good excellent suggestions, like we keep saying keep it simple, keep the charts as clean as possible.
Enter Signature
  • #45
  • Oct 27, 2011 11:43am Oct 27, 2011 11:43am
Quoting jamesr24
All good excellent suggestions, like we keep saying keep it simple, keep the charts as clean as possible.
Taking me a little getting used using the gann indi. But this is really beautiful. By keeping that buffer of around 16 pips away from the 50sma, it's easy to stay out of consolidations. That's a dream come true!!!!!!!!!!!!!
Although there are ways to trade a range bound market. The great thing is to be able to identify when it is range bound or flat.
This'll do it.
Really nice stuff.
I just added a 16 pip levels to the ma.
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  • #46
  • Oct 27, 2011 6:17pm Oct 27, 2011 6:17pm
Noticed the same thing..keeps you out of ranging.
Liked your idea of adding 16 pips to MA..Just did the same myself..makes it very easy to see opportunities.
Only thing is, where does "16" pips come from? Why particularly 16. Seems to work on EU. Wonder what the value would be on other pairs?
We all see the same dream, just from different viewpoints
  • #47
  • Oct 27, 2011 7:48pm Oct 27, 2011 7:48pm
To answer your questions you have to remember a couple things. First we are scalping so in and out tight spreads low commissions is the Grail for us. Most all other pairs other than the EU has higher spreads and commissions, which makes it tougher. But certainly this can work on a pair that has strong price surges like the GY. Though you are fighting spread usually 3-5 on the Gippy. Second I feel it is imperative to know the pair you are trading like you know your own****(hand)!! Know what it does, how it reacts, how it moves. With some study you get a very good feel for what price is about to do and you are able to anticipate moves.

In regards to why +16 away from the 50sma, i have found that when the price moves away the 50sma by say +16 you have an extremely high % that the price will continue in that direction. This is not to say that if it moves only +12 past the 50sma that it won't also continue but 16 has always been a solid realible amount of pips away from the 50sma to be able to judge the trend direction.

If there is an interest I would consider doing a thread showing only this setup. To do so it seems you need so many vouchures. It has been awhile since i have been on FF but if this is helping anyone and wouldn't mind given me a vouchure that would be great.
Enter Signature
  • #48
  • Oct 27, 2011 9:43pm Oct 27, 2011 9:43pm
Hello Chaps and thanks for the thread, Took my first trade on the aussie yesterday about 22 hours ago and went long at 1.04750. Within 10 minutes it was stuck at 1.0500. I thought beauty, easy 25 pips. But I better close cos 1.0500 will be hard to break. In Hindsight I may now let 2 equal value trades go taking profits on one and leaving the other at break even.
Then if luck goes my way. I will turn to hourly charts to see if we have hh hl candles keeping a stop under prev candles. That aussie chart nearly made me vomit. Thanks for all the ideas its good to see traders helping traders.

Good trading to all. Steve Brisbane Aust.
  • #49
  • Edited 10:50pm Oct 27, 2011 10:10pm | Edited 10:50pm
Just shorted aussie 1.0671. may be a mistake as the 200 ma is right there but time will tell. steve

update. took 8 of the table and locked at b/e with other.

edit 2nd trade out at b/e
  • #50
  • Oct 27, 2011 10:26pm Oct 27, 2011 10:26pm
Quoting jamesr24
To answer your questions you have to remember a couple things. First we are scalping so in and out tight spreads low commissions is the Grail for us. Most all other pairs other than the EU has higher spreads and commissions, which makes it tougher. But certainly this can work on a pair that has strong price surges like the GY. Though you are fighting spread usually 3-5 on the Gippy. Second I feel it is imperative to know the pair you are trading like you know your own****(hand)!! Know what it does, how it reacts, how it moves. With some study you...
Didn't know vouchers were needed to start a thread. Already sent you one a few days ago, just because....
By all means lets get a thread going for this...

I have been trading a long term strategy (thanks to the guidance of a pro) with some good success, but I am looking for a scalp strategy that will actually give me a winning edge on the market. It doesn't have to be much of an edge, profit can be made by position size and money management if it shows only a little winning edge. Your ideas are really good.

Always honor the stop.
  • #51
  • Oct 27, 2011 10:31pm Oct 27, 2011 10:31pm
This method may also be a good way to get entries in Silver trades. Ever tried trading that? its a wild ride.
Just need to look at bigger time frames to make sure that your not selling Demand or Buying Supply.

I realise this is a shorter term trading style but just puttin it out there.http://www.forexfactory.com/images/icons/icon12.gif
  • #52
  • Oct 27, 2011 11:42pm Oct 27, 2011 11:42pm
hello Jiva thanks for your system,could you post the indi you use to get the two lines 16 pips from the ma please
thank you and good health
  • #53
  • Oct 27, 2011 11:54pm Oct 27, 2011 11:54pm
thank you for sharing it
its nice indicators
  • #54
  • Oct 28, 2011 12:19am Oct 28, 2011 12:19am
sorry i found envelopes as a default indi on mt4
i wish you many pips
  • #55
  • Oct 28, 2011 12:42am Oct 28, 2011 12:42am
Hi all

Just catching up reading the last 2 pages and it appears that the strategy is changing. If it has, is it possible to maybe post it.

Many thanks
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #56
  • Oct 28, 2011 12:46am Oct 28, 2011 12:46am
Quoting Ezzy
Hi all

Just catching up reading the last 2 pages and it appears that the strategy is changing. If it has, is it possible to maybe post it.

Many thanks
Ezzy
Some evolving is taking place.
Please see: http://www.forexfactory.com/showthre...13#post5080513
  • #57
  • Oct 28, 2011 12:47am Oct 28, 2011 12:47am
Quoting jamesr24
To answer your questions you have to remember a couple things. First we are scalping so in and out tight spreads low commissions is the Grail for us. Most all other pairs other than the EU has higher spreads and commissions, which makes it tougher. But certainly this can work on a pair that has strong price surges like the GY. Though you are fighting spread usually 3-5 on the Gippy. Second I feel it is imperative to know the pair you are trading like you know your own****(hand)!! Know what it does, how it reacts, how it moves. With some study you...
Have really been perked by your ideas. Take a look if you would..
http://www.forexfactory.com/showthre...13#post5080513
  • #58
  • Oct 28, 2011 12:47am Oct 28, 2011 12:47am
Quoting jiva34
Some evolving is taking place.
Please see: http://www.forexfactory.com/showthre...13#post5080513

Thanks Jiva
What you do is a reflection of you....what I do is a reflection of me.
  • #59
  • Oct 28, 2011 1:11am Oct 28, 2011 1:11am
Hi Jiva, please excuse my ignorance but where do i put the tester thingo in my folders to make it work. Im assuming it dosnt go in indicators.
Many thanks Steve
  • #60
  • Oct 28, 2011 2:06am Oct 28, 2011 2:06am
Quoting brisvagus
Hi Jiva, please excuse my ignorance but where do i put the tester thingo in my folders to make it work. Im assuming it dosnt go in indicators.
Many thanks Steve
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