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Multi time frame Simple MACD system

  • #141
  • Sep 8, 2013 9:36am Sep 8, 2013 9:36am
Quoting 1greyfox
{quote} 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...
If I've not misunderstood, your candle close time is 5 pm New York (correct?) but our MACDs (expecially the 12,26,9) are very different... don't know why.

Let's analyze your trades:

1) BE
2) Win
3) Trade to skip. The next candle never trigger it
4) Trade to skip. 200 EMA between SL and TP
5) Same as trade #4
6) Is a BE. Trade stopped at BE 2 candle after your green dotted vertical line
Purple line) Is not a trade to take... MACDs didn't change color at all (always red)
7) Same as trades #4 and #5
8) Is a BE. Price didn't reach TP by very few pips, anyway BE
9) Trade not triggered. The very next candle didn't trigger it. No trade as #3
10) Win

To summarize:

3 BE
2 Win
0 Loose

This is my chart. Why are our MACDs so different? Look at the 12,26,9. Maybe your broker don't close the candle at 5pm NY?
I didn't take your trade #2 because my MACD is red.

2 Loose
7 BE


Attached Image (click to enlarge)
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  • #142
  • Sep 8, 2013 10:11am Sep 8, 2013 10:11am
hi garfield75
when do you cancell your stop orders?
if price touches sl before activing stop orders
or when 4 hours lasts and stop position not active(in 4h trading)?
(excuse for my english)
  • #143
  • Edited 1:47pm Sep 8, 2013 1:06pm | Edited 1:47pm
Quoting lucariga
{quote} If I've not misunderstood, your candle close time is 5 pm New York (correct?) but our MACDs (expecially the 12,26,9) are very different... don't know why. Let's analyze your trades: 1) BE 2) Win 3) Trade to skip. The next candle never trigger it 4) Trade to skip. 200 EMA between SL and TP 5) Same as trade #4 6) Is a BE. Trade stopped at BE 2 candle after your green dotted vertical line Purple line) Is not a trade to take... MACDs didn't change color at all (always red) 7) Same as trades #4 and #5 8) Is a BE. Price didn't reach TP by very...
Hi lucariga.

One thing for sure, you know the trading rules better than I do. I forgot about not getting into the trade if it doesn't trigger on the next candle.

FXDD does close at 5PM NY time. Have you looked into using FXCM's MT4 platform for charting and place the orders on Marketscope?

As to why the MACD's look different, I haven't a clue. I would think they would be consistent from platform to platform. If I am reading the longest term MACD correctly the histogram on my chart is below the zero line, while on yours it is above the zero line. That is very confusing.

Anyway, it appears that I wasn't of much help because of my newbie rule mistakes, sorry for that. Maybe someone else who is using an MT4 broker other than FXDD which has a 5PM NY daily close would be able to post their chart for comparison.

By looking at your results it is pretty obvious that using this method on your daily chart with isn't working well because of the differences in MACD between MT4 and Marketscope.

1greyfox
  • #144
  • Sep 8, 2013 2:16pm Sep 8, 2013 2:16pm
I have read all this topic and install indicators on my MT4, i am waiting for market, Once its open i will trade on demo account and will post my screens, Let see.....
  • #145
  • Sep 8, 2013 5:10pm Sep 8, 2013 5:10pm
Quoting soltanhadi
hi garfield75 when do you cancell your stop orders? if price touches sl before activing stop orders or when 4 hours lasts and stop position not active(in 4h trading)? (excuse for my english)
I manually put in the expiry date and time which cancels my stop orders automatically 5 min before open on the next 4 hour candle.
Trading is SIMPLE not EASY.
  • #146
  • Sep 8, 2013 6:58pm Sep 8, 2013 6:58pm
Quoting 1greyfox
{quote} 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 {image}
Nice work 1greyfox..
Trading is SIMPLE not EASY.
  • #147
  • Sep 8, 2013 7:01pm Sep 8, 2013 7:01pm
garfield75
Thank you for the system.
  • #148
  • Sep 8, 2013 7:02pm Sep 8, 2013 7:02pm
Quoting garfield75
{quote} Nice work 1greyfox..
Your welcome my friend.

You might want to add the pic to your first post for those who prefer to set up their own charts. It could save time on people asking for the settings in the future.

1greyfox
  • #149
  • Sep 8, 2013 7:20pm Sep 8, 2013 7:20pm
On the 15 minute, I had a candle change color on me after getting the all green signal.

Does this ever happen on the 4 hour? They were all green, then the top one changed from green to red.
  • #150
  • Sep 8, 2013 7:46pm Sep 8, 2013 7:46pm
Quoting Baggi
On the 15 minute, I had a candle change color on me after getting the all green signal. Does this ever happen on the 4 hour? They were all green, then the top one changed from green to red.

Current candle can change color/repaint. That is why this system is based on close of a candle which elimates re-painting issue.

Can u please confirm if it was current candle or 1 before current candle ?
Trading is SIMPLE not EASY.
  • #151
  • Sep 8, 2013 7:57pm Sep 8, 2013 7:57pm
Quoting garfield75
{quote} Current candle can change color/repaint. That is why this system is based on close of a candle which elimates re-painting issue. Can u please confirm if it was current candle or 1 before current candle ?

It was a current candle, not the one before.

I haven't done this system "live" yet, just looked back.

So my thinking was wrong. On the 15 minute, if it comes up all green, I have to wait for the close of the 15 minute all green before going in. Right?

And it ended up going back to green. It didn't stay red, and I didn't make an entry.
  • #152
  • Sep 8, 2013 8:12pm Sep 8, 2013 8:12pm
Quoting Baggi
{quote} It was a current candle, not the one before. I haven't done this system "live" yet, just looked back. So my thinking was wrong. On the 15 minute, if it comes up all green, I have to wait for the close of the 15 minute all green before going in. Right? And it ended up going back to green. It didn't stay red, and I didn't make an entry.

yes. you have to wait for the candle to close to confirm the signal for trade entry.
Trading is SIMPLE not EASY.
  • #153
  • Sep 8, 2013 9:50pm Sep 8, 2013 9:50pm
Quoting 1greyfox
{quote} 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 {image}

Is it a weird coincidence that the 15 minute and the hour have the same numbers for the first 6 settings?
  • #154
  • Sep 8, 2013 10:01pm Sep 8, 2013 10:01pm
Quoting Baggi
{quote} Is it a weird coincidence that the 15 minute and the hour have the same numbers for the first 6 settings?

it is not a "Weird Coincidence".
1) 2nd set of number in 15 min represent 1 hour which is 4 times 15 min
2) 2nd set of number in 1 hour represent 4 hour which is 4 times 1 hour
3) Therefore multipling 1st set of numbers with 4 gives u 2nd set of number and is same for 15 min and 1 hour.
Trading is SIMPLE not EASY.
  • #155
  • Sep 9, 2013 12:24am Sep 9, 2013 12:24am
Let the trading week begin.

I have a pending long on GBPUSD on daily chart.

There are 3 setups on 4 hour chart at the close of 3 PM (AEST) candle.
AUDJPY Long - skipping it due to 200 MA at the entry price.
EURCAD Short- have a pending order for it.
NZDUSD Long - not sure about this pair at this price, going to wait till london opens to see if I should put the pending long of just ignore it.
Trading is SIMPLE not EASY.
  • #156
  • Sep 9, 2013 1:06am Sep 9, 2013 1:06am
Bit of a newbie question here.

If you can't monitor your trade, I know you can put in a stop loss in order to get out if it goes the wrong way. Suppose your trade is 50 pips and you buy at 150. You put in your stop loss at 100, can you put in a limit sell at 200 in case it reaches your target price while you're not monitoring?

Therefore, you either make 50 pips, or lose 50 pips?

Thanks for the help.
  • #157
  • Sep 9, 2013 1:27am Sep 9, 2013 1:27am
Quoting Baggi
Bit of a newbie question here. If you can't monitor your trade, I know you can put in a stop loss in order to get out if it goes the wrong way. Suppose your trade is 50 pips and you buy at 150. You put in your stop loss at 100, can you put in a limit sell at 200 in case it reaches your target price while you're not monitoring? Therefore, you either make 50 pips, or lose 50 pips? Thanks for the help.
I am not clear about your question on "can you put in a limit sell at 200 in case it reaches your target price ".
When you enter a trade, your profit target and stop loss are already in place. so when u buy at 150. stop is set at 100 and target is set at 200.. so when the price reachs 200. the trade is automatically closed with profit.
Trading is SIMPLE not EASY.
  • #158
  • Sep 9, 2013 1:43am Sep 9, 2013 1:43am
What I'm asking is, how is the trade automatically closed with profit?

If you entered the trade through a buy, then you have to depart the trade via a sell. Do you put in a Sell Limit Order?

I've never planned to exit a trade like that before. I've done stop loss before, so I'd go to Stop Loss and enter 100.

But how do you enter the 200? Limit Sell?
  • #159
  • Sep 9, 2013 1:54am Sep 9, 2013 1:54am
Quoting Baggi
What I'm asking is, how is the trade automatically closed with profit? If you entered the trade through a buy, then you have to depart the trade via a sell. Do you put in a Sell Limit Order? I've never planned to exit a trade like that before. I've done stop loss before, so I'd go to Stop Loss and enter 100. But how do you enter the 200? Limit Sell?
not sure what platform r u using, but in MT4, there is a Take profit value that is entered to close the trade automatically when it reachs the exit price for profit.
Attached Image (click to enlarge)
Click to Enlarge Name: orderwindow.JPG Size: 59 KB
Trading is SIMPLE not EASY.
  • #160
  • Sep 9, 2013 7:07am Sep 9, 2013 7:07am
Good morning everyone.

Good luck garfield75 on your GBP/USD long trade, according to how my 1 hour chart looks currently it appears you got triggered in your daily trade about an hour ago.

I took a GBP/USD trade a few hours after the Sunday night open.

1 hour chart, manual entry instead of pending order. Target was reached while I slept.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-09_GBPUSD 1H 3macd.gif Size: 36 KB
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