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The Force 5min system

  • #3,661
  • Oct 17, 2012 4:06am Oct 17, 2012 4:06am
Quoting MidnightRun
Thanks for the indicator Sidefx, one question though" I am a bit confused: when I set 15 min in the inputs timeframe window, the indicator in the chart is showing Period M30. I assume for the 5M chart I should then set the value in the timeframe window at 5 min and the indicator by default multiplies the stock to the next higher timeframe, i.e. to 15 minutes? Thanks
If you're trading off the 5min chart, set the NextHigherAuto parameter to 'true' and then enter '0' in the Timeframe setting. This will then give you the 15min stoch on your 5min chart. Hope that's clear..
  • #3,662
  • Oct 17, 2012 4:23am Oct 17, 2012 4:23am
Quoting sidefx
If you're trading off the 5min chart, set the NextHigherAuto parameter to 'true' and then enter '0' in the Timeframe setting. This will then give you the 15min stoch on your 5min chart. Hope that's clear..
All set. Thanks a lot.
  • #3,663
  • Oct 17, 2012 4:39am Oct 17, 2012 4:39am
Hi Sidefx,

I really like what you are doing with the higher time frame Stochastic. I have been looking for a higher time frame solution that is more elegant. Currently I use:

 

  1. 21 EMA slope on a 30 min chart to guage long term trend if combined with
  2. 123 price pattern in same direction as 30 minute 21 EMA slope.

I think the 15 min stoch looks more sensitive to current price, which is really good. I do have problems with bad trades if there is a false break that quickly reverses (often found in London open). Of course any trend following system faces that challenge.

  • #3,664
  • Oct 17, 2012 4:44am Oct 17, 2012 4:44am
As dug_forex posted yesterday, focusing on price action first before taking a trade is essential to success. The indies are simply there as a guide and shouldn't be used too prescriptively. Hopefully we're all long (EU) now and at b/e.
  • #3,665
  • Oct 17, 2012 4:51am Oct 17, 2012 4:51am
Quoting dug_forex
Hi Sidefx,

I really like what you are doing with the higher time frame Stochastic. I have been looking for a higher time frame solution that is more elegant. Currently I use:

 

  1. 21 EMA slope on a 30 min chart to guage long term trend if combined with
  2. 123 price pattern in same direction as 30 minute 21 EMA slope.

I think the 15 min stoch looks more sensitive to current price, which is really good. I do have problems with bad trades if there is a false break that quickly reverses (often found in London open). Of course any trend...

Hi dug_forex, the Genesis thread uses the MTFStoch really well and the idea of using it with Force entries makes sense - lots of forward testing to do though until I completely hang my hat on it.
  • #3,666
  • Oct 17, 2012 4:59am Oct 17, 2012 4:59am
I like the current trade as it has the following attributes in its setup

 

  1. bouncing away from 1.3100 level - a round number
  2. part of a double bottom pattern
  3. second bounce out of support that was earlier resistance (caused by round number price action).

I do believe we may see an exit as we are being challenged by strong overhead support.

  • #3,667
  • Oct 17, 2012 5:03am Oct 17, 2012 5:03am
Hi Sidefx,

It really looks great. I am playing around with it now. Do you know if it repaints at all historically as it really works well as a filter for the Force system? Especially when validating with PA as a second filter.

Lots of forward testing to do. I very interested. This lends itself well to a pyramiding money management approach.
  • #3,668
  • Oct 17, 2012 5:08am Oct 17, 2012 5:08am
Quoting dug_forex
I like the current trade as it has the following attributes in its setup

 

  1. bouncing away from 1.3100 level - a round number
  2. part of a double bottom pattern
  3. second bounce out of support that was earlier resistance (caused by round number price action).

I do believe we may see an exit as we are being challenged by strong overhead support.


I meant to say price is being challenged by overhead resistance
  • #3,669
  • Oct 17, 2012 5:11am Oct 17, 2012 5:11am
just exited EU trade +7 pips
  • #3,670
  • Edited 5:39am Oct 17, 2012 5:21am | Edited 5:39am
Quoting dug_forex
just exited EU trade +7 pips
could easily push down, especially now 15Stoch is o/b and beginning to hook/cross. I'm +1ish under the last swing low, just in case R breaks up.

Before trading today, i looked at the hrly chart and noticed the bull flag type pattern, so i thought the odds of this R breaking would be quite good...time will tell.

Edit: locking in some profit now..+15
  • #3,671
  • Oct 17, 2012 5:35am Oct 17, 2012 5:35am
There is some news coming out in a couple of hours that may impact US open prices - either up or down.

1.3120 - 1.3125 is a strong price barrier right now. I see the bull flag that you identified Sidefx - well spotted. I think you are right. Flags are one of my favorite patterns.

A break of the flag followed by a pullback latter should lead to a very high probability Force trade.
  • #3,672
  • Oct 17, 2012 5:37am Oct 17, 2012 5:37am
price breaking out now.
  • #3,673
  • Oct 17, 2012 5:56am Oct 17, 2012 5:56am
As the price is above breakout level if it pulls back to 1.3115 we will see 2 things.

 

  1. Test of support
  2. Test of 38.2% fib level for the base to peak rise that we all just saw.

This will be a great base to look for another long Force 5 min setup. Note I don't just trade off those levels. Instead I wait for the the indicators and candlestick to give me the green light to enter.

  • #3,674
  • Oct 17, 2012 5:58am Oct 17, 2012 5:58am
Quoting dug_forex
As the price is above breakout level if it pulls back to 1.3115 we will see 2 things.

 

  1. Test of support
  2. Test of 38.2% fib level for the base to peak rise that we all just saw.

This will be a great base to look for another long Force 5 min setup. Note I don't just trade off those levels. Instead I wait for the the indicators and candlestick to give me the green light to enter.

excellent, thanks for this. I like fibs. I'm out of the last long now too.
  • #3,675
  • Oct 17, 2012 6:18am Oct 17, 2012 6:18am
Quoting sidefx
excellent, thanks for this. I like fibs. I'm out of the last long now too.

This is interesting. Price has hit 1.315 and is bouncing up again as expected. Test of support resistance and FIB.

Force trade setup not an ideal one (rules not being followed) Stoch pull back not far enough on my chart.
  • #3,676
  • Oct 17, 2012 6:31am Oct 17, 2012 6:31am
Quoting dug_forex
This is interesting. Price has hit 1.315 and is bouncing up again as expected. Test of support resistance and FIB.

Force trade setup not an ideal one (rules not being followed) Stoch pull back not far enough on my chart.
Agreed. The 15minStoch was also still in short mode around that signal too..
  • #3,677
  • Oct 17, 2012 6:37am Oct 17, 2012 6:37am
The 15 min Stoch is looking like a great filter.
  • #3,678
  • Oct 17, 2012 6:43am Oct 17, 2012 6:43am
Quoting dug_forex
The 15 min Stoch is looking like a great filter.
...it has been thoroughly tested with the 5min stoch on the Genesis thread, with higher probability signals being when both stochs are aligned. Not an exact science of course, as it takes time to really understand the nuances of what the stochastics are showing to get the best edge.
  • #3,679
  • Oct 17, 2012 7:26am Oct 17, 2012 7:26am
..just missed the last long signal, a quick sprint to R2 so far.
  • #3,680
  • Oct 17, 2012 8:15am Oct 17, 2012 8:15am
Quoting sidefx
..just missed the last long signal, a quick sprint to R2 so far.
Trade raced away very quickly. Good setup, but to quick. The range of the market is not very wide today.
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