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EJ_4H method

  • #81
  • Apr 22, 2006 2:12am Apr 22, 2006 2:12am
I don't know if this will help or not but you can overlay the 2 stochs into 1 window. Just set up the daily stoch, then drag then stock from the navigator window where upon it will show you the parameter window then adjust the settings for the 4 hr chart and press ok.
Attached Image
  • #82
  • Apr 22, 2006 9:37am Apr 22, 2006 9:37am
thank you, lindsay. i have been trying to figure out how to do it for a long time and could not get it. i was experimenting with cci intensively and needed to combine 2 of them in the same window. you rock!
  • #83
  • Apr 22, 2006 12:26pm Apr 22, 2006 12:26pm
lindsay, i thought maybe you know the answer to my other question as well: i've spent so much time playing with charts that i just cannot afford to lose them if something happens to my computer. when i am backing it all up, i usually copy experts, profiles, and templates folders. my thinking is that if i have to restore it all, these three are the folders i need in order to do restore it fast on another computer, if the need be. is that correct, or i have to copy something else, like settings, for example?

thanks
  • #84
  • Apr 22, 2006 2:26pm Apr 22, 2006 2:26pm
Hey,

Yeah, that's all you need. I have a laptop and a main pc that I use, and the way I restore the settings from one to another is by just archiving those directories into one file and copying them to the respective locations.

D2T

Quoting sashazz
lindsay, i thought maybe you know the answer to my other question as well: i've spent so much time playing with charts that i just cannot afford to lose them if something happens to my computer. when i am backing it all up, i usually copy experts, profiles, and templates folders. my thinking is that if i have to restore it all, these three are the folders i need in order to do restore it fast on another computer, if the need be. is that correct, or i have to copy something else, like settings, for example?

thanks
  • #85
  • Apr 22, 2006 2:55pm Apr 22, 2006 2:55pm
thanks driven2trade. for some reason i was thinking i might need config folder, too.
  • #86
  • Edited 5:18pm Apr 22, 2006 4:59pm | Edited 5:18pm
Euro,

I just came across this thread and downloaded your information. First, Thanks for sharing your system and information with us. It looks very interesting to me and I wish to learn more about it. You have some great results on the GBP/USD pair.

I do use Metatrader 4 and currently employ the Vegas Wealth Building Model.

I still have to read through your documents, but wanted to follow-up on the MT4 scripts and the initial chart set-up. Can you or someone walk me through step 1: the chart set up.

This is what I have done thus far for the GBP/USD pair:

1)Set-up a 4 hour chart

2)Overlaid on this chart the following: EJ_CandleTime, EJ_Signal, EJ_Trend

I do not see the white SMA line or the yellow 55 SMA. Are these within the initial indicators?

Do I need to configure the chart properties within MT4 at all..as far as the chart bar colors etc..? I also get some different colors showing up on the bars initally, but could edit them...

Part II also has an indicator as well…

I wanted to make sure I had the chart set-up correctly first, then I will get into the system itself.

A suggestion: perhaps we can set-up a chart anaysis section on this thread and perhaps for the GPB/USD pair to start with and share our learning’s…this way we will all learn from each other…

Thanks

Mike
  • #87
  • Apr 22, 2006 6:37pm Apr 22, 2006 6:37pm
Quoting ForexMike
Euro,

I just came across this thread and downloaded your information. First, Thanks for sharing your system and information with us. It looks very interesting to me and I wish to learn more about it. You have some great results on the GBP/USD pair.

I do use Metatrader 4 and currently employ the Vegas Wealth Building Model.

I still have to read through your documents, but wanted to follow-up on the MT4 scripts and the initial chart set-up. Can you or someone walk me through step 1: the chart set up.

This is what I have done thus far for the GBP/USD pair:

1)Set-up a 4 hour chart

2)Overlaid on this chart the following: EJ_CandleTime, EJ_Signal, EJ_Trend

I do not see the white SMA line or the yellow 55 SMA. Are these within the initial indicators?

Do I need to configure the chart properties within MT4 at all..as far as the chart bar colors etc..? I also get some different colors showing up on the bars initally, but could edit them...

Part II also has an indicator as well…

I wanted to make sure I had the chart set-up correctly first, then I will get into the system itself.

A suggestion: perhaps we can set-up a chart anaysis section on this thread and perhaps for the GPB/USD pair to start with and share our learning’s…this way we will all learn from each other…

Thanks

Mike
I THINK A CHART ANALYSIS SECTION WOULD BE A GREAT IDEA BUT PERHAPS WE COULD HANDLE 3 PAIRS, SAY GBPUSD, USDCHF AND PERHAPS FOR SOMETHING WITH A DIFFERENT PERSONALITY THE EURGBP.
I HAVE SET MY CHARTS UP WITH THE SAME INDICATORS AS YOU HAVE PLUS THE FFTUNNEL 3.1. I HOPE THIS HELPS.
Attached File(s)
File Type: zip fftunnel.3.zip   3 KB | 609 downloads
  • #88
  • Apr 22, 2006 6:55pm Apr 22, 2006 6:55pm
Hi Mike,



You can take a look at my picture, I am hoping this is what Ibo meant. The color of the time may be different, Ibo used blue in his second update but it seamed too dark to me, so I left yellow. Also, I changed the color of the stochastic lines.



Use file EJ_Pivot_DWM from the first part to get pivot points.



I think I had white line in the initial setup files. You can see in both downloads not only the indicators, but also templates. Use them, then if you install ej_4h_wp you will get it all plus pivot points.



The picture Lindsay showed above has some extra lines, maybe from the knife system or something else, so you can take a look at mine. I did not add any extras here, only Ibo’s stuff. The only difference is that I put both stochastics in the same window using the trick lindsay showed above.



Hope that helps.
Attached Image
  • #89
  • Apr 22, 2006 7:00pm Apr 22, 2006 7:00pm
lindsay, where could i read about fftunnel, please?

thanks
  • #90
  • Apr 22, 2006 8:03pm Apr 22, 2006 8:03pm
I have been looking at the 34EMA as a stop placement when in a trade. If price closes above the 34 when selling or below when in a buy I would then exit the trade. I have manually backtested this and compared the results to getting out on a turn of the 8ma or a 30, 40, 50 pip trailing stop and have found that even though it gets a little scary some times I get far better rides sticking to the close above or below the 34 EMA.
The areas where price consolidates or retraces a long move I would normally get stopped out and miss some good moves. With the 34 ema even though you give back some pips sometimes it still I beleive gives better overall results.
Also I entered the USDCHF and USDJPY for buys from their most recent buy signals on the 20th of April and now looking at my 34 ema theory realise I should have stayed out. I'm not saying that to enter a trade that their should aways be across over the 34 ema it would to often give up too many pips. On the other hand it may be beneficial where there has been a long move waiting for price to cross the 34 to get out and sometimes to get in.
I would really love some others to back test my theory and compare their own results on getting out on the price closing above or below the 34 EMA. I realise that my doing it manually can be subject to errors and subconcious bias.
Attached Image
  • #91
  • Apr 22, 2006 8:12pm Apr 22, 2006 8:12pm
Quoting sashazz
lindsay, where could i read about fftunnel, please?

thanks
It was in the Private Forum but I was since posted somewhere in the FF, I looked but could not find where.
The emas are 55 and 8 and the dotted lines are fib levels off the 55 ma showing possible overbought and oversold areas. You can adjust the fib levels in the properties box to either 1,2 or 3 depending upon the currencies tendencies and visually where price sits on the fibs most often.
  • #92
  • Apr 22, 2006 8:20pm Apr 22, 2006 8:20pm
lindsay, if you are interested there is a whole good working trading system built on the WAVE - 34 emas on high, close, and low. see www.raghee.com i am experimenting with it now, too. she also wrote a book: Forex Trading for Maximum Profit. but this is entirely different topic, i guess.
  • #93
  • Edited 9:48pm Apr 22, 2006 9:42pm | Edited 9:48pm
Quoting Lindsay
I THINK A CHART ANALYSIS SECTION WOULD BE A GREAT IDEA BUT PERHAPS WE COULD HANDLE 3 PAIRS, SAY GBPUSD, USDCHF AND PERHAPS FOR SOMETHING WITH A DIFFERENT PERSONALITY THE EURGBP.
I HAVE SET MY CHARTS UP WITH THE SAME INDICATORS AS YOU HAVE PLUS THE FFTUNNEL 3.1. I HOPE THIS HELPS.
Lindsay,

Thanks for the FFTunnel. I had one version that show the trend on the weekly chrt, but this one is different!

BTW, do you apply the appropriate risk model for the pair when using the Tunnel indicator?

I am also up for three pair on the analysis...

Thanks

Mike
  • #94
  • Edited 10:42pm Apr 22, 2006 10:06pm | Edited 10:42pm
Quoting sashazz
Hi Mike,



You can take a look at my picture, I am hoping this is what Ibo meant. The color of the time may be different, Ibo used blue in his second update but it seamed too dark to me, so I left yellow. Also, I changed the color of the stochastic lines.



Use file EJ_Pivot_DWM from the first part to get pivot points.



I think I had white line in the initial setup files. You can see in both downloads not only the indicators, but also templates. Use them, then if you install ej_4h_wp you will get it all plus pivot points.



The picture Lindsay showed above has some extra lines, maybe from the knife system or something else, so you can take a look at mine. I did not add any extras here, only Ibo’s stuff. The only difference is that I put both stochastics in the same window using the trick lindsay showed above.



Hope that helps.
Thanks Sashazz, yes this does help. I think I have everything set up exept for the ej_4h_dual stoch_wb.tpl (and other tpl files) how are these set up and used in Metatrader.

My chart now looks similar to yours...

Thanks

MIke
  • #95
  • Apr 22, 2006 11:08pm Apr 22, 2006 11:08pm
no problem
  • #96
  • Apr 23, 2006 1:10am Apr 23, 2006 1:10am
Quoting ForexMike
Lindsay,

Thanks for the FFTunnel. I had one version that show the trend on the weekly chrt, but this one is different!

BTW, do you apply the appropriate risk model for the pair when using the Tunnel indicator?

I am also up for three pair on the analysis...

Thanks

Mike
Yes I do this visually looking for where price tends to consolidate on the fibs and where price tends to turn from an extreme fib
  • #97
  • Edited 1:39pm Apr 23, 2006 1:22am | Edited 1:39pm
Hello Kids,

1- Read the first post again for instructions (this may help some newbies that have problems in setting up the method)

2- PROPER ENTRY: this is what we will work at least 6 months to find out how to enter properly.

3- About discussing trades by this method I agree, maybe this will help you to get closer to the method, but don't start another thread please, this may diversify the efforts.

4- I will cover how to trail the price, how to book your profits, how to manage your account and positions, how to minimize the risk, but friends all these will take its proper time, so don't hurry, I do not expect that you trade excellent at this time by this method, just if you use the best entry setup you are the best student.

5- You should keep it simple, don't try to enter more indicators to support some aspects, all aspects that you can not find at the time being, will be discussed in future.

6- Please forget pips/day, at least say pips/week. With this mehtod you are aiming intellectual targets like 100 pips, so don't think that you can seize 20 pips per day, try to trade one time a week but profitably and with less stress., expend the rest of your time to enjoy the life. If you can make 100 pips consistently per week I will show you that you will be a millionaire just in 2 years. So don't try to make more and more with working 24/7. This is not the way.

7- The methos of 34 EMA is working on M30 chart so please read number 9 below.

8- If you find or think of something usefull with this method (like indicators, tricks, templates and so on) before posting, please send me a private email describing your opinion and I will try it before publishing to avoid wasting the time of kids and perturbing their learning.

9- If you want that I shorten your way to win at least one year just please bear in mind that :

A)All indicators in MT4 and most of custom indicators are useless, just some of them with their special setting are a bit of help; so don't waste your time to discover a magic from them. I just like Ichimoku because it is really predict the potential supports/resistances.

B)Don't strive to trade smaller time frame than H4.

All these were my personal opinions, I am maybe mistaken, I just told my own oipnions with all respects.

Happy trading
Ibo
  • #98
  • Apr 23, 2006 7:16am Apr 23, 2006 7:16am
Quoting ForexMike
Thanks Sashazz, yes this does help. I think I have everything set up exept for the ej_4h_dual stoch_wb.tpl (and other tpl files) how are these set up and used in Metatrader.

My chart now looks similar to yours...

Thanks

MIke
Hi ForexMike,

As far as setting up the charts to look the way Ibo has them, I didn't fiddle with adding this indicator here or that one there, I just overlaid the appropriate template onto my chart. If you added Ibo's indicators and compiled them before overlaying the template, it should automatically add the correct indicators. If you find you want to add or remove one or more, you can do so at that point, but just adding the template to the chart should do the trick for most of what you need.

Hope this helps,

Ian
  • #99
  • Apr 23, 2006 7:28am Apr 23, 2006 7:28am
Quoting eurusdtrader
Hello Kids,

1- Read the first post again for instructions (this may help some newbies that have problems in setting up the method)

2- PROPER ENTRY: this is what we will work at least 6 months to find out how to entry properly.

3- About discussing trades by this method I agree, maybe this will help you to get closer to the method, but don't start another thread please, this may diversify the efforts.

4- I will cover how to trail the price, how to book your profits, how to manage your account and positions, how to minimize the risk, but friends all these will take its proper time, so don't hurry, I do not expect that you trade excellent at this time by this method, just if you use the best entry setup you are the best student.

5- You should keep it simple, don't try to enter more indicators to support some aspects, all aspects that you can not find at the time being, will be discussed in future.

6- Please forget pips/day, at least say pips/week. With this mehtod you are aiming intellectual targets like 100 pips, so don't think that you can seize 20 pips per day, try to trade one time a week but profitably and with less stress., expend the rest of your time to enjoy the life. If you can make 100 pips consistently per week I will show you that you will be a millionaire just in 2 years. So don't try to make more and more with working 24/7. This is not the way.

7- The methos of 34 EMA is working on M30 chart so please read number 9 below.

8- If you find or think of something usefull with this method (like indicators, tricks, templates and so on) before posting, please send me a private email describing your opinion and I will try it before publishing to avoid wasting the time of kids and perturbing their learning.

9- If you want that I shorten your way to win at least one year just please bear in mind that :

A)All indicators in MT4 and most of custom indicators are useless, just some of them with their special setting are a bit of help; so don't waste your time to discover a magic from them. I just like Ichimoku because it is really predict the potential supports/resistances.

B)Don't strive to trade smaller time frame than H4.

All these were my personal opinions, I am maybe mistaken, I just told my own oipnions with all respects.

Happy trading
Ibo
Ibo,

Thanks for posting part II of the method and continuing to share your insights with us.

I definitely agree that we should strive to keep this thread as EJ_4H-centric as possible since that is why we all tuned in to begin with. If we have similar systems to share or off-topic items that would distract the newbie from learning this method, then I think we should all agree to keep those conversations outside of this thread.

I know that doing this would make navigating ALL the threads on FF much easier and less daunting for those who haven't been part of the thread since the beginning.

- Ian
  • #100
  • Apr 23, 2006 7:42am Apr 23, 2006 7:42am
hi Ibo, thanks for your big letter. i have always been scared even to look at ichimoku so i would like to know what you know. btw, it was a big article about it in the Currency Trader last month, so now at least i know some basics. why would’t you personally publish, at least once a week, an "ideal" current trade with your comments? if you are busy it won't take much time because you are trading it anyway, right? for example, i am really curious if you jumped on GBP when it moved down last week and everybody was shorting it (including myself)?
and thanks for the white background.

impatient
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