Islander and Medici trade the European open | Page 171 | Forex Factory

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Islander and Medici trade the European open

  • #3,401
  • Dec 1, 2011 4:20am Dec 1, 2011 4:20am
Quoting nhen
Nice trading guys, I'm flat out over here so will be back when things kick off again next year!
Have a good break ya'll.
Nice break to you too And thanks for your contributions this year.

Should you have the energy, don't forget that December is the month when Santa hands out extra pips to intraday traders
  • #3,402
  • Dec 2, 2011 6:01pm Dec 2, 2011 6:01pm
By popular demand per PM, here's the T3 MACD. It's based on SwingMan's code but modified for T3. You will need both indies in your folder for things to work.
Attached File(s)
File Type: mq4 T3 MACD True.mq4   4 KB | 371 downloads
File Type: mq4 T3 MA.mq4   3 KB | 330 downloads
  • #3,403
  • Dec 4, 2011 8:13am Dec 4, 2011 8:13am
Now that our thread has metamorphosed more into looking at ways to trade the European mornings, I'd like to share my recent research and see if it generates any interest within our loyal band of followers

For some time I have noticed that €'s intra day ranges / consolidations are frequently around 30 pips and so I have added the attached chart to my € profile page and set it up as follows....

xx00 & xx50 levels and the T3 MACD that Medici has just posted, settings 21, 34,7 with the Blue line in bold

Before the Frankfurt Open, I look to place a ~30 pip rectangle over the lastest action - this typically encompasses the latest couple of hours of the Asian Session. This Consolidation Box will frequently "hold" the action during Frankies Hour - with the odd small excursion within the 10 pip / 15 min "Fake-Out Box"....see next post...
Attached Image (click to enlarge)
Click to Enlarge Name: nov 28 eur c box fo.gif Size: 19 KB
Trading Levels with WRBs
  • #3,404
  • Dec 4, 2011 8:18am Dec 4, 2011 8:18am
So now with this KISS chart I can concntrate on trading its extremes and interpreting what moves that fail to reach the extreme might signify.....

like here where the low at FO failed to reach the upper edge and turned back to make a fake-out break of the bottom edge....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 28 eur c box lo.gif Size: 21 KB
Trading Levels with WRBs
  • #3,405
  • Dec 4, 2011 8:25am Dec 4, 2011 8:25am
Thus we had an attempted break-out which was a small double bottom with clear positive divergence from the MACD.....and in the run up to LO too.......I guess its not to difficult to see that as a buy .....and a nice one too.....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 28 eur c box lo plus 1h.gif Size: 23 KB
Trading Levels with WRBs
  • #3,406
  • Dec 4, 2011 8:30am Dec 4, 2011 8:30am
Once the 30p C/B has done its job - for now! - I switch to my normal 1m / 5m charts.....here I'm using the Trend Magic indy, rather than say the T3 MA 18, as I prefer that clarity of its levels and reversals, which are, for me, easier to put into a set of Trading Rules......

Edir: - I've also used the Candle Size Altert indy - again posted erlier in the thread...

As we can see, there a several ways to work TM into entries / exits when combined with the T3 MACD and I use prior PA S&R levels together with the Daily Pivots as a dynamic guide to potential S&R - both omitted here for clarity.....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 28 eur c box lo plus 2h.gif Size: 25 KB
Trading Levels with WRBs
  • #3,407
  • Edited 8:52am Dec 4, 2011 8:37am | Edited 8:52am
Once a 30P CB has been broken, its often better to move up a time frame so as to avoid over-managing a trade....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 27 eur 5m lo plus 3h.gif Size: 18 KB
Trading Levels with WRBs
  • #3,408
  • Dec 4, 2011 8:42am Dec 4, 2011 8:42am
Last Friday being NFP Friday, it was a good reason to take the morning off as confirmed by the ranging action.....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 2 eur 5m lo plus 4h.gif Size: 23 KB
Trading Levels with WRBs
  • #3,409
  • Dec 4, 2011 8:45am Dec 4, 2011 8:45am
Quoting Islander
Last Friday being NFP Friday, it was a good reason to take the morning off as confirmed by the ranging action.....
However, the afternoon was a different matter, with both the 30P CBs and the DP's confirming - IMO - their use.....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 2 eur 5m european session.gif Size: 27 KB
Trading Levels with WRBs
  • #3,410
  • Dec 4, 2011 8:48am Dec 4, 2011 8:48am
and in case anyone finds my thoughts interesting, here's the TM indy, courtesy of Tudor Girl....see you for FO....
Attached File(s)
File Type: mq4 Trend Magic.mq4   2 KB | 263 downloads
Trading Levels with WRBs
  • #3,411
  • Dec 4, 2011 9:11am Dec 4, 2011 9:11am
Quoting medici
Nice break to you too And thanks for your contributions this year.

Should you have the energy, don't forget that December is the month when Santa hands out extra pips to intraday traders
Thanks bud

A pip giving Santa.. that is intriguing! I will have to try and squeeze in some time


Quoting Islander
and in case anyone finds my thoughts interesting, here's the TM indy, courtesy of Tudor Girl....see you for FO....
Fantastic stuff, very interesting! Thank you for sharing.
Look forward to looking more closely at the ranges.
  • #3,412
  • Dec 4, 2011 11:48am Dec 4, 2011 11:48am
Quoting Islander
Now that our thread has metamorphosed more into looking at ways to trade the European mornings, I'd like to share my recent research and see if it generates any interest within our loyal band of followers <img src="images/smilies/yim/happy.gif" border="0" alt="" title="Smile" smilieid="82" class="inlineimg" /><br />
<br />
Good stuff! The thread is back to life. A bit too busy to post tonight, but here's another "level indy" that could be of interest. It's called SuperTrend and comes from the ProRealTime charting package. You may want to adjust its parameters.
Attached Image (click to enlarge)
Click to Enlarge Name: SuperTrend 2 dec.jpg Size: 149 KB
Attached File(s)
File Type: mq4 SuperTrend.mq4   4 KB | 300 downloads
  • #3,413
  • Dec 4, 2011 11:50am Dec 4, 2011 11:50am
Quoting nhen
Thanks bud

A pip giving Santa.. that is intriguing! I will have to try and squeeze in some time
It's usually the case that the intraday ranges are wider in December. That's what I was referring to.
  • #3,414
  • Dec 4, 2011 12:03pm Dec 4, 2011 12:03pm
Some testing methodology on and parameter optimisation for SuperTrend:

http://tradingresearch.wordpress.com...over-12-years/

This could maybe be replicated for our purposes.
  • #3,415
  • Dec 4, 2011 2:37pm Dec 4, 2011 2:37pm
Yet another level indy that looks very promising.

With TrendMode = 1 and ATR_Multiplier = 1.5 it looks similar to TrendMagic (see chart with both indies), even though it's based on completely different logic. And it has the advantage of not re-painting, and one can tweak the parameters.
Attached Image (click to enlarge)
Click to Enlarge Name: Kolier SuperTrend vs TM 2 dec.jpg Size: 144 KB
Attached File(s)
File Type: mq4 Kolier_SuperTrend_Indi.mq4   9 KB | 321 downloads
  • #3,416
  • Dec 4, 2011 4:05pm Dec 4, 2011 4:05pm
Quoting medici
Good stuff! The thread is back to life. A bit too busy to post tonight, but here's another "level indy" that could be of interest. It's called SuperTrend and comes from the ProRealTime charting package. You may want to adjust its parameters.
Thanks, as you say, its good to see our thread rejuvenated

Thanks for SuperTrend, I'll take a look at it. As you will remember from our conversations, I have already looked at several similar indicators and selected Trend Magic because it tends to keep with a trend better than those I have tested to date, with less whip-lash.
Trading Levels with WRBs
  • #3,417
  • Dec 4, 2011 4:07pm Dec 4, 2011 4:07pm
Quoting medici
Yet another level indy that looks very promising.

With TrendMode = 1 and ATR_Multiplier = 1.5 it looks similar to TrendMagic (see chart with both indies), even though it's based on completely different logic. And it has the advantage of not re-painting, and one can tweak the parameters.
Yeeks - more work - but for tomorrow.....
Trading Levels with WRBs
  • #3,418
  • Dec 4, 2011 4:23pm Dec 4, 2011 4:23pm
Quoting Islander
Yeeks - more work - but for tomorrow.....
And here's some interesting reading:

http://kolier.li/indicator/how-super...nson-jnrtradin
  • #3,419
  • Dec 4, 2011 4:27pm Dec 4, 2011 4:27pm
More stuff to digest !

Thanks for the indis, I shall see if I can improve my strike rate.

I must admit though, I truly believe that both of you guys could trade profitably of a bare chart
Money grows on the tree of persistence
  • #3,420
  • Dec 5, 2011 1:13am Dec 5, 2011 1:13am
and score a couple for the 30P C/B short....and a HL, so long after that larger bullish engulfer....
Attached Image (click to enlarge)
Click to Enlarge Name: dec 5 eur 1m cb fo.gif Size: 18 KB
Trading Levels with WRBs
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