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Multi time frame Simple MACD system

  • #121
  • Sep 7, 2013 4:24am Sep 7, 2013 4:24am
Hello Garfield, thanks for this trading system.

I'm a new Forex trader here and have been trading the past few weeks based off what I know on charting. I'd like to try your technique but am having some technical trouble trying to figure out how to download from the first page and then get it to work in MetaTrader.

Any assistance with this would be appreciated. Simply treat me like I know absolutely nothing at all (if you're willing to help) and it should work out. I use Chrome, download your file, then MetaTrader opens up, but my charts look nothing like yours.

Do I need to manually plug in all the numbers by opening up 3 MACD's?

I appreciate any help you choose to give.

And I apologize if this is an interruption to your otherwise very interesting thread.
  • #122
  • Sep 7, 2013 4:43am Sep 7, 2013 4:43am
Quoting Baggi
Hello Garfield, thanks for this trading system. I'm a new Forex trader here and have been trading the past few weeks based off what I know on charting. I'd like to try your technique but am having some technical trouble trying to figure out how to download from the first page and then get it to work in MetaTrader. Any assistance with this would be appreciated. Simply treat me like I know absolutely nothing at all (if you're willing to help) and it should work out. I use Chrome, download your file, then MetaTrader opens up, but my charts look nothing...

http://www.google.com.au/#q=how+to+i...mt4+indicators
sentiment repainting...
  • #123
  • Sep 7, 2013 6:37am Sep 7, 2013 6:37am
Quoting garfield75
There was a setting error on 30 min template. Thanks to 1GreyFox for pointing it out, I have updated correct 30 min template now. If you are using it please download the new template. I was not going to trade on Friday due to NFP, but gave into the template to take NZDUSD long trade, EURCAD Short & CHFJPY Short. NZDUSD and EURCAD both closed in profit around NFP new release. CHFJPY hit my profit target, but didn't close the trade, I am assuming this is due to Wider spead during NFP. Anyway it at breakeven so no worries on that trade. In my opinion...
Good morning garfield75

Thank you for checking the template and making the necessary changes to it. I am glad to be of help when I can. I hope all the current users of the old 30 minute template see your post and download the corrected version.

Congrats on the trades, I looked at my charts and have a good idea of where you entered and exited on each of them. At least the CHF/JPY is at breakeven, it would have been better to have closed at profit but a no lose situation is good also.

Enjoy the weekend.

1greyfox
  • #124
  • Sep 7, 2013 8:08am Sep 7, 2013 8:08am
Quoting 1greyfox
{quote} Hi lucariga I had some time available so I marked up the 2013 Daily EUR/USD chart like you asked. I didn't look for re-entries. I did mark where I either wouldn't take the trade or it was a questionable entry. I hope this is helpful to you. 1greyfox {image}
Thanks greyfox,
I've seen that your MACD settings are very different from the one posted by garfield... Why?

Unfortunately, with different settings we can't compare our results....
  • #125
  • Edited 9:58pm Sep 7, 2013 1:28pm | Edited 9:58pm
Quoting swamp donkey
{quote} http://www.google.com.au/#q=how+to+i...mt4+indicators

Thank you for the link, Swamp Donkey!

I downloaded the indicator and couldn't get the 4 hour download part to work. Perhaps I was supposed to drop that into the indicator? Anyway, I changed it manually. This is what my screen looks like now.

http://i44.tinypic.com/33xv3g3.jpg

I put up the first indicator to show how I changed the numbers manually to match what Garfield wrote in the first post.

Sorry for the trouble everyone. I hope I set them all up correctly.

And thanks again Garfield!
  • #126
  • Sep 7, 2013 2:28pm Sep 7, 2013 2:28pm
Quoting garfield75
{quote} The EUR chart you posted on post #78 has the MA in the right place. What did you change on your chart between then and now to show the MA on different place ? on daily chart, check you EMA setting it shoud be 200 and on 4 hours it should be 1200.

Does this mean E of the EMA is for Exponential and the 1200 goes in the box that says, "Period"? under the Parameters tab? And it's applied to "Close"?
  • #127
  • Edited 9:36pm Sep 7, 2013 9:11pm | Edited 9:36pm
Quoting lucariga
{quote} Thanks greyfox, I've seen that your MACD settings are very different from the one posted by garfield... Why? Unfortunately, with different settings we can't compare our results....
Hi lucariga.

What a great catch you made. Those settings were for the 1h chart which I was working on and saved it as the daily template in error. I hate getting older. I was attempting to add multiple copies of the MACD indicator to the chart for each specific timeframe, this way instead of having several templates, the correct MA settings and MACD settings would appear when I just switch from the daily to 4h, 1h,etc.

I have just made the changes back to what they should have been and will have to redo my chart analysis for you. Please give me a day or so to do the EUR/USD chart again. I will also re-check the GBP/USD as I can't remember if I analyzed that one before or after I messed up the template.

Sorry for messing with your head.

1greyfox
  • #128
  • Edited 9:58pm Sep 7, 2013 9:13pm | Edited 9:58pm
I hope I'm not spamming your thread, Garfield. Here is my practice chart, first one anyway, I plan to do a second one with USDJPY.

This is EURUSD 4H

Attached Image (click to enlarge)
Click to Enlarge Name: Practice.JPG Size: 368 KB


My results, if I did this correct are.

1) No Entry (Meaning, the trade never goes off)
2) Not sure about this one. I think though that I get stopped out at even, but I'm not clear on my stops yet.
3) Assuming I'm stopped out at even money on #2, this one is an entry at 1.3324 and exit at 1.3399, which was the very top of that last wick there, very close!
4) This one is also a winner, if I understand my stops correctly.
5) No Entry
6) No Entry
7) In at 1.3252 and out at 1.3177
8) Should be stopped out Even if I understand my stops correctly.
9) No Entry


So, if I'm doing this correctly, it looks like

3 wins
4 No Entry
2 Even Money
No Losses

Is this correct?

Thanks for the help. As should be clear from the above, I'm not really sure how the stops are moved around. If you could clarify that, I'd appreciate it. I hope my 9 points are accurate.
  • #129
  • Edited 9:59pm Sep 7, 2013 9:31pm | Edited 9:59pm
I did USDJPY about the same time frame, and I'll post it if interested, but it looks a lot worse.

Came out with

5 No Entry
3 Loss
2 Even
1 Win

EDIT: Below is my chart

Attached Image (click to enlarge)
Click to Enlarge Name: Practice2.JPG Size: 356 KB
  • #130
  • Sep 7, 2013 9:46pm Sep 7, 2013 9:46pm
Quoting Baggi
I hope I'm not spamming your thread, Garfield. Here is my practice chart, first one anyway, I plan to do a second one with USDJPY. This is EURUSD 4H {image} My results, if I did this correct are. 1) No Entry (Meaning, the trade never goes off) 2) Not sure about this one. I think though that I get stopped out at even, but I'm not clear on my stops yet. 3) Assuming I'm stopped out at even money on #2, this one is an entry at 1.3324 and exit at 1.3399, which was the very top of that last wick there, very close! 4) This one is also a winner, if I understand...
Hi Baggi

I tried to view your screenshot but when I click on it, it takes me to the site where you uploaded it, even when I try to enlarge it, it is still to small for me to see it clearly. Would you consider just uploading it from your computer to the forum instead of using the outside source?

1greyfox
  • #131
  • Sep 7, 2013 9:59pm Sep 7, 2013 9:59pm
Quoting 1greyfox
{quote} Hi Baggi I tried to view your screenshot but when I click on it, it takes me to the site where you uploaded it, even when I try to enlarge it, it is still to small for me to see it clearly. Would you consider just uploading it from your computer to the forum instead of using the outside source? 1greyfox

Done. Thanks for that! I didn't notice the option before. Looked for it, but obviously I didn't look hard enough.
  • #132
  • Sep 7, 2013 10:08pm Sep 7, 2013 10:08pm
Quoting Baggi
{quote} Done. Thanks for that! I didn't notice the option before. Looked for it, but obviously I didn't look hard enough.
Thanks for making the changes. I will look over your charts tomorrow when I have more time to see what you came up with on the practice charts.

1greyfox
  • #133
  • Sep 7, 2013 11:57pm Sep 7, 2013 11:57pm
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




Does anyone have the settings for the 1 hour chart?
  • #134
  • Sep 8, 2013 2:40am Sep 8, 2013 2:40am
Quoting 1greyfox
{quote} Hi lucariga. What a great catch you made. Those settings were for the 1h chart which I was working on and saved it as the daily template in error. I hate getting older. I was attempting to add multiple copies of the MACD indicator to the chart for each specific timeframe, this way instead of having several templates, the correct MA settings and MACD settings would appear when I just switch from the daily to 4h, 1h,etc. I have just made the changes back to what they should have been and will have to redo my chart analysis for you....
No problem at all greyfox...
We'll copare our results. Take your time. This system could be profitable, but in a Daily TF I've noticed about 50% win rate at 1:1 R:R so break even at best (because of spread)...

PS: Don't skip any trade because of triple top or other factors, just stick with the system so we can test it and maybe optimize it, don't let your discretion be part of this method.... Just my 0,02
  • #135
  • Sep 8, 2013 3:35am Sep 8, 2013 3:35am
Hi,

What It would be interesting is a dashboard with 4 columns :
currencies list - 30minutes - 1 hour - 4 hour - Daily
In each time column a green signal appears when all the MACD are green. A red signal appears when all MACD are red.

I am not programmer. Perhaps someone here can help us?
  • #136
  • Sep 8, 2013 6:47am Sep 8, 2013 6:47am
Quoting Baggi
{quote} Thank you for the link, Swamp Donkey! I downloaded the indicator and couldn't get the 4 hour download part to work. Perhaps I was supposed to drop that into the indicator? Anyway, I changed it manually. This is what my screen looks like now. {image} I put up the first indicator to show how I changed the numbers manually to match what Garfield wrote in the first post. Sorry for the trouble everyone. I hope I set them all up correctly. And thanks again Garfield!
from your screenshot, MACD settings looks correct.
Trading is SIMPLE not EASY.
  • #137
  • Sep 8, 2013 6:49am Sep 8, 2013 6:49am
Quoting Baggi
{quote} Does this mean E of the EMA is for Exponential and the 1200 goes in the box that says, "Period"? under the Parameters tab? And it's applied to "Close"?
Applies to = Typical Price
Trading is SIMPLE not EASY.
  • #138
  • Sep 8, 2013 7:41am Sep 8, 2013 7:41am
Quoting Baggi
I hope I'm not spamming your thread, Garfield. Here is my practice chart, first one anyway, I plan to do a second one with USDJPY. This is EURUSD 4H {image} My results, if I did this correct are. 1) No Entry (Meaning, the trade never goes off) 2) Not sure about this one. I think though that I get stopped out at even, but I'm not clear on my stops yet. 3) Assuming I'm stopped out at even money on #2, this one is an entry at 1.3324 and exit at 1.3399, which was the very top of that last wick there, very close! 4) This one is also a winner, if I understand...
Hi Baggi,
your back testing look right. Moving stop to break when price moves half way to target.
Trading is SIMPLE not EASY.
  • #139
  • Edited 8:31am Sep 8, 2013 7:50am | Edited 8:31am
Quoting Baggi
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 Does anyone have the settings for the 1 hour chart?
Good morning Baggi.

The settings for the 1 hour chart are as follows:

1. 12,26,9
2. 48,104,36
3. 288,624,216

After I replied to this post I made a chart which shows the various MACD settings for each time frame.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: macd settings.gif Size: 9 KB
  • #140
  • Sep 8, 2013 8:29am Sep 8, 2013 8:29am
Quoting lucariga
{quote} No problem at all greyfox... We'll copare our results. Take your time. This system could be profitable, but in a Daily TF I've noticed about 50% win rate at 1:1 R:R so break even at best (because of spread)... PS: Don't skip any trade because of triple top or other factors, just stick with the system so we can test it and maybe optimize it, don't let your discretion be part of this method.... Just my 0,02
Good morning lucariga.

I re-did the EUR/USD daily chart analysis for 2013 and here is the updated chart. I did this before reading your post about not adding discretion to whether I would take the trade or not. I added some additional comments to the screenshot which hopefully negated my reasons for not taking a trade.

I also went over the GBP/USD chart and my notes which were posted in post #114 are correct as I did that before messing up my settings. So, if you remove my thoughts then it should be accurate(hopefully).

EUR/USD results minus what I have marked as Trade 3 because I was unable to determine whether price moved up before triggering the short entry, or triggered the entry and then moved up hitting the stop loss.

2 - BE (Trade 3 not included)
7 - Wins
1 - Loser (Trade 3 not included) (the trade which I wouldn't have taken because of support being too close(Dark Violet vertical line) between Trade 6 and 7 on the chart).

As always I may have missed an entry and maybe garfield75 could review the chart and add additional comments to what were additional trade entries. I am still in early learning mode for this method so mistakes can/will happen.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 3MACD EURUSD DAILY.gif Size: 69 KB
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