Hi again, more questions about the system. I attach a graph to explain some trades and if there are some mistakes correct me please.
I've done a very simple test from 5 august to now. I've made a total of 7 trades and I've not make a SL move to BE when we reach half the TP, and neither discard a trade if it is less than 25 pip TP. The only reason to do it this way is just to make some trades and see if I understand more or less how it goes....
Ok, the first doubt, for example after reaching TP in the first trade, do we enter inmediatly another trade as we have all three macds in green and we are no more in market?? Or do we need a transition from red to green or green to red to enter a new trade?
Another doubt, do we skip a trade if the bar is a very big one, like the one that I mark in yellow (fourth trade), or that doesn't matter at all..... In this case we reach TP, but maybe sometimes if TP is very far away it's nearly imposible to reach.....
Well, no more from now. In this case, if everything is correct we've had 4 winners and 3 losers.
Hi, very simple system, that's good. Only two things to comment. First of all in the configuration paramenters for the macds, i don't know if there is a mistake in the third one or not: This is what you wrote in the first post: 3 setting for the indicator 1) 12,26,9 2) 72,156,54 3) 360,780,486 I imagine that the second macd is the macd for D1, (H4 parameters * 6), and the third macd is the macd for W1 (D1 parameters * 5). So, if this si correct, parameters for the third macd should be 360,780,270 instead of 360,780,486. I don't know if I'm correct...
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Hi Tradefish,
you are right there was a error on the setting and I have updated #1 post now with correct setting.
I haven't setting any trailing SL, due to limited time for trading, however if you find it to me more profitable, please share your result and point of view.
This is H1 GJ chart. How do you manage this signal? Would you take this trade marked by red line? {image}
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I don't trade 1 hr chart, but that signal is valid.
At the open of the next candle, you would put a buy stop on top(high) of the green candle, with stop below (low) of the candle, target equal distance to stoploss. Once triggered, move stop to breakeven when price is half way between entry and target.
Hi again, more questions about the system. I attach a graph to explain some trades and if there are some mistakes correct me please. I've done a very simple test from 5 august to now. I've made a total of 7 trades and I've not make a SL move to BE when we reach half the TP, and neither discard a trade if it is less than 25 pip TP. The only reason to do it this way is just to make some trades and see if I understand more or less how it goes.... Ok, the first doubt, for example after reaching TP in the first trade, do we enter inmediatly another trade...
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New trades are entered on the transition of red bar to green or green bar to trade. If you already have a trade open on the pair and it's not a breakeven, new trade signals should be ignored.
No skipping trade based on big candles. Skip trade only of candle size is smaller than 25 pips.
Also looking at the chart you have posted,
1) Third trade is not a valid entry as there were not transition from Red to Green.
2) Fifth trade entry is one candle late, also since you would have a open position already, whihc is not a breakeven, this trade should be skipped.
3) sixth trade entry should be at the high of the candle, therefore it wouldn't trigger and get cancelled after 4 hours.
{quote} New trades are entered on the transition of red bar to green or green bar to trade.
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Hi Garfield,
This thread looks promising. I've been trading another MTF system but your system is certainly a lot easier to implement. So thank you for sharing.
I do have one question: for each of the MACD charts, do we simply ignore the line running through the bars (from left to right - I presume this is the MA line) and simply read the colour of the vertical bars?
{quote} Hi Garfield, This thread looks promising. I've been trading another MTF system but your system is certainly a lot easier to implement. So thank you for sharing. I do have one question: for each of the MACD charts, do we simply ignore the line running through the bars (from left to right - I presume this is the MA line) and simply read the colour of the vertical bars?
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Thanks mact4. Please ignore white line running through....
After going through lot of complex trading systems and indicators.. I have now using system which is very simple and seems to work well. so I am sharing the system here with everyone. Please provide your view point and maybe someone can help me automate this system. It uses only 1 indicator 3ColorMACD. 3 setting for the indicator on 4 hour chart 1) 12,26,9 2) 72,156,54 3) 360,780,270 3 setting for the indicator on Daily chart 1) 12,26,9 2) 60,130,45 3) 240,520,180 I trade it on 4 hours chart only. Buy when all 3 setting of 3colorMACD turns Green....
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Hello Garfield, I think your very promising method.
Two questions please :
1 - For the stop loss and take profit, do you take into account the wicks of the trigger candle ?
2 - Also in post N°1, you talk of « Buy stop order ». Do you place an order conditional on the highest of the wick (or lowest of the wick) ?
Thanks
Best regards
{quote} Hello Garfield, I think your very promising method. Two questions please : 1 - For the stop loss and take profit, do you take into account the wicks of the trigger candle ? 2 - Also in post N°1, you talk of « Buy stop order ». Do you place an order conditional on the highest of the wick (or lowest of the wick) ? Thanks Best regards Oya
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Hi Oya,
1) Yes. Wicks of the trigger candle is included.
2) Buy stop on the Highest of the wick and Sell stop on the lowest of the wick.
{quote} Hi Oya, 1) Yes. Wicks of the trigger candle is included. 2) Buy stop on the Highest of the wick and Sell stop on the lowest of the wick. cheers
Here is a great example of EURNZD trades I am currently in
1st trade triggered early morning my time at 7 AM my time (Sydney). as it moved in the right direction, I managed to move my stop to breakeven. Then another trade entry was confirmed at the close of 4 hr candle at 3 PM, which I setup and it has triggers.
Now it's just wait an watch game, till I can move my stop to breakeven for the second trade.
Update - Both trades hit the profit target just before london open.
Here is a great example of EURNZD trades I am currently in 1st trade triggered early morning my time at 7 AM my time (Sydney). as it moved in the right direction, I managed to move my stop to breakeven. Then another trade entry was confirmed at the close of 4 hr candle at 3 PM, which I setup and it has triggers. Now it's just wait an watch game, till I can move my stop to breakeven for the second trade. Update - Both trades hit the profit target just before london open. {image} {image}
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are not trades valid entry as there were not transition from Green to Red ?
I've seen garfield's Daily settings on the 1st post: 3 setting for the indicator on Daily chart 1) 12,26,9 2) 60,130,45 3) 240,520,180
I've made some calculation, and I've noticed that the weeks on every month are 4,345 instead of 4 (365/7=52,143 weeks/year) --> (52,143/12=4,345 week/month)
So the Daily settings should be: 1) 12,26,9 (Day) 2) 60,130,45 (Week) --> *4,345 and we obtain the monthly settings 3) 261,565,196 (Month) --> signals are very different between this and 240,520,180
I've seen garfield's Daily settings on the 1st post: 3 setting for the indicator on Daily chart 1) 12,26,9 2) 60,130,45 3) 240,520,180 I've made some calculation, and I've noticed that the weeks on every month are 4,345 instead of 4 (365/7=52,143 weeks/year) --> (52,143/12=4,345 week/month) So the Daily settings should be: 1) 12,26,9 (Day) 2) 60,130,45 (Week) --> *4,345 and we obtain the monthly settings 3) 261,565,196 (Month) --> signals are very different between this and 240,520,180 What you guys think?
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not sure about your calculation here is how I calculate
12 (day) * 5 = 60 (week) as there are 5 trading days in a week.
12 (day) * 20 = 240 (month) as there are 20 trading days in a month on avg.
