Rainbow Magic with CRB charts

Nothing new here. All gleaned from various forums. Just want to keep details loaded off my computer in case of hard drive meltdown.

Makes use of 1) Constant Range Bar charts using EA to produce offline charts. CRB charts help to see clearly price action.

2) Variable Moving Average indi called Fantail with ADX set to 8 This VMA goes flat when market not trending. Use the template.

Basic Idea:
Use two different size range bar charts. Put the EA on two 1 minute charts. AUD/USD set one at range of 4 ( set time frame to 4) another at range of 8 (set time frame to 8). (can use same setting for EUR/USD.) Make sure that "show gaps" is ticked. Click open offline and find the relevant charts open these and add the template.

Fantail Rainbow gives a strong visual of what the current trend is. Black above magenta trend up. Black below magenta trend down. K.I.S.S.!

Look for black VMA to go flat on the 8 pip range chart. This is signal to look for a trade.

Move to the 4 pip range chart for entry. Entry when bar closes outside the rainbow in direction of trend on 8 pip chart. Exit trade when price closes back over black VMA. K.I.S.S.! Set SL to last Hi or Lo previous to entry signal.

Use Easy Order Script to manage trades. This Script allows you to set the percentage risk per trade and move lines to levels that suit the trade and it calculates the order size for you dependent on risk settings and account size.

Note. The black VMA makes nice steps up or down in a trend. Change of trend and it can go flat and make steps in opposite direction. Could use an oscillator with divergence to help pick this up. Try Traders dynamic index for this standard settings. Best entry is on change of trend. Take the first "step" and leave the rest. Wait for new trend to enter again. Leave pips on the table but it is the safest trade of all.


I wonder if this could be automated in some way?

http://www.forexstrategiesresources....rt/range-bars/

Easy order instructions copied from Sangmane

This plugin inspired by some great scripts / tools available on FF that make trading easier.

I made this simple tool to give me the ability to specify sl/tp for new order by using mouse (dragging line object). Input sl/tp manually is a boring task, especially for lazy trader.

It also monitor existing trade sl/tp, which means it will modify existing sl/tp and open price (for pending order) when it detected a different value between order's sl/tp and the corresponding sl/tp line object.

Other feature :
- lot size calculated automatically based on the specified risk.
- a simple popup menu that allows you to quickly close an order based on ticket number

Unlike most line object based trading tools, this program doesn't use EA for monitoring lines object every tick, or a script which uses continuous looping with certain delay. It detects mouse dragging activities (hence why it uses dll) and fire the necessary script. All script will return once its job (opening new order / modifying existing orders) finished.

To use:
- download attached zip file. this zip contains 5 scripts (EasyOrder...mq4) and one EasyOrder.dll
- extract mq4 files to scripts folder, dll file to libraries folder
- attach EasyOrder to chart where you want to open new order or modifying exisiting orders
- you should only attach / run EasyOrder.mq4 scripts. Other scripts named EasyOrder_Draw, EasyOrder_Submit, EasyOrder_XXXX is companion scripts that will be run by

dll, not to be run manually

New Order
- to prepare new order, click combo box that has text "New Order", choose Buy Stop (for example)
- program will draw three lines, each of them are sl (red), open price (gold) and tp (blue). drag them to the required position.
- click submit, read progress on alert window

Modify SL/TP
- drag SL/TP line

Close Order
- click Close button, you will see a popup showing the list of order's ticket

Remove Window
- Right click on any part of the order window, on the popup menu, choose remove.

Let me know your experience with this baby

Update
2011.02.24:
- Add notification if program failed to get market watch handle
- When user drag SL/TP line, lines of closed order will be deleted
2011.02.25:
- Add new popup menu item to refresh lines (dll)
- Risk lot is editable, you can type any lot size (dll)
- Files are listed separately
2011.07.10:
- Put latest update (March 16, 2011) on the front page

If the script doesn't work:
1. Press F3 to open Global Variables List
2. Add EO_ALLOWTRADING and set it to 1

Added easy order indi. Run as indi and it allows you to automatically adjust the initial TP setting.

Check here if any problems:-
https://www.forexfactory.com/showthread.php?t=281772

Here's how the chart shud look.

Yesterdays trades. 18.4 pips 4 trades. No losses.

Pay attention to order of black white red. Crossover indicate short term trend.

Also helpful to have 15 minute chart open. U can see signal that CRB charts do not show eg tweezer top or bottom.

today was sideways and tough for me. 1 win 1 loss 1 BE. -6.8pips all up. Enough of crappy market for today. See what tomorrow brings.

After finding some new info about adxvma's combined with tlomi non lag ma, have changed method. Google the chimp's "Forex Trades" you'll find it on another forum. However my twist is to apply it to CRB charts. using 5 pip and 1 pip charts. Worked a treat tonite with the slow european market. found an continuation on the net down trend for some nice pips.

Add MA CANDLES INDI. now look what it produces. even stronger signals to trade.

Can we improve further? Well today I put on a stoch set at 10,3,3 to try find confirmation of entry. (Thanks Dredding..) Very helpful. Refine, test, update, simplify. We'll get there. 2 nice winners so far. Biggest issue is those moving average lines cross and uncross at times.

My word doc on walterw method

Can you update with list of current indicators, you sure changed quickly, how is going today?

Thanks

Thanks for your interest. This journal just a place for me to keep my thoughts. Let me test some more and I'll come back with the best combination of what I use currently.

If you read walterw's material. you'll see all u need is three lines and an oscillator you can find them on the thread listed at the beginning of the word doc.

OK, you posted while I was slow at writing my post

I will research the materials but can you say which you use for Range Bars?

Script or Indicator or EA?

Thanks, E.

Sure its s-Constant Range Bars which is commercially available so I can't put it here sorry.

I do not endorse the courses promoted but the videos give some really useful info.

http://www.the-natural-flow.com/back/baktokyo.html

Try this link
http://www.stocktime.ru/en/

Here u go.

Yesterday trades explained.
Once you get a semafor start to look for the pullback and trade away from the semafor. As simple as that. Note semafor repaints. Its a flag to an opportunity not the opportunity!!!!

Here's some original research material on VMA's alias " the fantail".
Method still works. I just use it with CRB's making the 1 minute charts for entries redundant.

All the tools.