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Multi time frame Simple MACD system

  • #341
  • Edited 6:40am Sep 17, 2013 6:13am | Edited 6:40am
Quoting soltanhadi
{quote} hi 1greyfox i think what you said is not true if you see this post : http://www.forexfactory.com/showthre...30#post6919830 garfield75 gets a sell signal while next candle doesnt break the low of signal candle and that sell position goes to tp so i think its better to check the past for that

Hello soltanhadi

Welcome to the thread.

I think there is a mis-communication of words here, maybe I should have used the word "during" instead of "within' the candle after the signal candle. I edited my post changing the word 'within' to 'during', hopefully this will clear up any confusion.

Sorry for the confusion, but what I posted is correct.

Good luck with this method.

1greyfox
  • #342
  • Sep 17, 2013 6:20am Sep 17, 2013 6:20am
Quoting luvene
{quote} Thanks my friend I go on with this strategy but first I have to understand everything. The problems with MT4 will not help unfortunately.... I need MT4 for the signals but that's all. I place my orders on another Trading Platform and directly I put a horizontal Line on 50% of the Target and I watch every four hour. I removed the MACD signal indicator, it confuses me more than it helped me with the signals..... Sorry Mike.... Maybe if you can make the indicator for generating only for a fresh/new signal that would be great.
Hi luvene.

Since you are using MT4 just for the setup and using your main broker for entries, wouldn't it be better to use an alert on your brokers platform when price has moved 50% in your favor.

If you want to use MT4 for the alert you can setup a simple alert by clicking on the alert tab on the terminal window. Set the parameters and it will ding when price you set has been reached. It is difficult trying to learn a new trading platform in a short period of time, but you'll get there soon.

1greyfox
  • #343
  • Sep 17, 2013 6:28am Sep 17, 2013 6:28am
Quoting luvene
On my 4H charts there is coming a possible entry at 14.00 PM my time. UK+1 time. -EUR/USD LONG -AUD/USD LONG -USD/CHF SHORT And Maybe GBP/CHF SHORT. Depends on the Slowest MACD, yet it is still green but maybe at 14.00 it will be red also. Cheers, Luvene
Hi luvene.

I just looked at my charts and it appears that there are possible entry setups forming on all your pairs listed, I need to wait 2 more hours to know for sure if the are true.

1greyfox
  • #344
  • Sep 17, 2013 6:33am Sep 17, 2013 6:33am
Sorry that was wrong time frame this is correct jut gonna move to BE
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  • #345
  • Sep 17, 2013 6:34am Sep 17, 2013 6:34am
Trade update.

I got stopped out on the GBP/CHF 4 hour trade from yesterday.

I am still in the USD/CHF trade daily chart that was entered on September 12. The stop is at breakeven+3 pips.

1greyfox
  • #346
  • Sep 17, 2013 6:38am Sep 17, 2013 6:38am
Quoting orid
{quote} well this ended going backward so I chickened out at +12 pips total 4 x 1hr trades + 36 pips one 4 hr trade on e/j loss - 37 pips regards Orid
Good morning orid.

Sorry to hear the trades didn't work as hoped, this method like all other methods need some practice so we can better 'filter' our trades. I have no doubt that you'll make it work.

1greyfox
  • #347
  • Sep 17, 2013 6:42am Sep 17, 2013 6:42am
Quoting orid
Sorry that was wrong time frame this is correct jut gonna move to BE{image}
Hi orid.

Looks like it is a winner!

1greyfox
  • #348
  • Sep 17, 2013 6:47am Sep 17, 2013 6:47am
its ok greyfox that fail was not really a good trade lots of resistance plus round number but I just went with signal could have gone the other way.
here
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s another i'm in . demos are great
  • #349
  • Sep 17, 2013 7:06am Sep 17, 2013 7:06am
Quoting 1greyfox
{quote} Good morning orid. Sorry to hear the trades didn't work as hoped, this method like all other methods need some practice so we can better 'filter' our trades. I have no doubt that you'll make it work. 1greyfox
I'm waiting for garfield to post the corrected EA so I can backtest it hard.... and maybe try to find some "filters"
  • #350
  • Sep 17, 2013 7:07am Sep 17, 2013 7:07am
Quoting orid
its ok greyfox that fail was not really a good trade lots of resistance plus round number but I just went with signal could have gone the other way. here{image}s another i'm in . demos are great
Hi orid.

I am in this one also, good luck.

1greyfox
  • #351
  • Sep 17, 2013 7:07am Sep 17, 2013 7:07am
Quoting 1greyfox
{quote} Good morning orid. Sorry to hear the trades didn't work as hoped, this method like all other methods need some practice so we can better 'filter' our trades. I have no doubt that you'll make it work. 1greyfox
hell lots of news coming next hour or so think I might pull out of my trades 3 out of 3 are in profit what do you other guys do? when you are in small profit and news looms? 50 pips is 50 pips !
Orid
  • #352
  • Sep 17, 2013 7:58am Sep 17, 2013 7:58am
Quoting orid
{quote} hell lots of news coming next hour or so think I might pull out of my trades 3 out of 3 are in profit what do you other guys do? when you are in small profit and news looms? 50 pips is 50 pips ! Orid
Hi orid.

If the trade(s) haven't moved enough to lock in some profit and the news worries you(like it does me), I see nothing wrong in pocketing profits. After the news traders get done manipulating the market you can always look for another entry.

1greyfox
  • #353
  • Sep 17, 2013 8:13am Sep 17, 2013 8:13am
Quoting lucariga
{quote} I'm waiting for garfield to post the corrected EA so I can backtest it hard.... and maybe try to find some "filters"
Hi lucariga.

Each of us will use different 'filters' to hopefully stay out of some of the not so perfect setups that this and all methods generate. As I mentioned in previous posts, I look for previous support/resistance levels, if I can't easily fit in a 1:1 Risk/Reward I'll pass it by and wait for another setup. I also use garfield75's filter of trade setup being too close to the moving average to get a good R:R ratio. Also, if the price bar is straddling the ma I won't enter.

As time goes on, you will also develop your own filters as to enter or not enter a trade.

The EA will provide a trade signal but I don't believe it will be able to filter out trades based on garfield75's rules. Maybe the EA can filter out trades based on garfield75's rules, I don't know and will have to wait like everyone else until it gets released.

1greyfox
  • #354
  • Sep 17, 2013 8:25am Sep 17, 2013 8:25am
Quoting 1greyfox
{quote} Hi lucariga. Each of us will use different 'filters' to hopefully stay out of some of the not so perfect setups that this and all methods generate. As I mentioned in previous posts, I look for previous support/resistance levels, if I can't easily fit in a 1:1 Risk/Reward I'll pass it by and wait for another setup. I also use garfield75's filter of trade setup being too close to the moving average to get a good R:R ratio. Also, if the price bar is straddling the ma I won't enter. As time goes on, you will also develop your own filters as...

I've backtested some pairs on daily chart for 2011 2012 2013 and the results are not so bad, anyway I need to filter out some bad trades. For example I have had some trades triggered for 2 pips or less and went immediately to SL.

Now I'm trying:
- without the EMA filter (and the results seems better)
- not to enter on the very high/low of the signal bar, but 3 pips above/below it (not sure about the results, because I filter some bad trades but I win 3 pips less for every good trade)
  • #355
  • Sep 17, 2013 10:29am Sep 17, 2013 10:29am
Quoting 1greyfox
{quote} Hi orid. If the trade(s) haven't moved enough to lock in some profit and the news worries you(like it does me), I see nothing wrong in pocketing profits. After the news traders get done manipulating the market you can always look for another entry. 1greyfox
thanks for the good luck wishes I need Them ,
good luck to you also and everyone else here,
Trades Today 4x 1hr trades 3 wins 1 loss = + 19 pips two I pulled out early for news to see them hit the TP
also in GBP /jpy at moment looking bad its also the same one I lost on earlier -20 .
also 2 x 4hr wins = 35pips , so =+ 54 total
not bad considering just relying on signals , plus im a rank amature.
off to bed .
Regards orid
  • #356
  • Sep 17, 2013 10:42am Sep 17, 2013 10:42am
Quoting 1greyfox
{quote} Hello soltanhadi Welcome to the thread. I think there is a mis-communication of words here, maybe I should have used the word "during" instead of "within' the candle after the signal candle. I edited my post changing the word 'within' to 'during', hopefully this will clear up any confusion. Sorry for the confusion, but what I posted is correct. Good luck with this method. 1greyfox

hi 1greyfox
you are right when i check the low of that green candle it is 152.798 vs. 152.814 which is low of that red candle
so i conclude that just .00006 difference is enough for entering to a position
sorry for that post
in persian:چاکرتیم یک روباه خاکستری
  • #357
  • Sep 17, 2013 12:34pm Sep 17, 2013 12:34pm
Quoting luvene
{quote} Hi 1Greyfox, no, that's not the case. Indeed, you are right that timeserver of my broker is 2 hours earlier than my time. The time now in MT4 is 18.22 and my time is 20.22...... It confuses me a lot but I can handle it. It would be better if I can find a broker with the same servertime as my own local time....... I understand that I have to wait until the current Bar is closed..... because of the different times I was confused. That seems normal...... Thanks again, I apappreciate! Luvene

Heya Greyfox,

I haven't been here in a week (or so) and this looks new.

I read through the first post on the first page looking for an update and didn't see an explanation. Care to help me out here? We just need the one indicator now?
  • #358
  • Sep 17, 2013 12:47pm Sep 17, 2013 12:47pm
Quoting magft
Here is an indicator that checks for all 3 MACDs showing the same colour. I've "borrowed" the alert code from elsewhere so it may not be perfect yet but will check current bar if required or just on previous bar. It will Alert, playsound and send email if setup correctly in MT4. When you first put the indicator on a chart it may give the wrong message but after that it seems to work correctly. Hope this helps Regards Mike {file}

Nevermind GreyFox, I found it here.
  • #359
  • Sep 17, 2013 1:10pm Sep 17, 2013 1:10pm
Quoting lucariga
{quote} I've backtested some pairs on daily chart for 2011 2012 2013 and the results are not so bad, anyway I need to filter out some bad trades. For example I have had some trades triggered for 2 pips or less and went immediately to SL. Now I'm trying: - without the EMA filter (and the results seems better) - not to enter on the very high/low of the signal bar, but 3 pips above/below it (not sure about the results, because I filter some bad trades but I win 3 pips less for every good trade)
Hi lucariga.

You are trying different filters on backtesting to see what works for you what doesn't, that is great!

The idea of entering a few pips above or below the signal candle is good also, especially when going long because you get entered on the ask price instead of the bid price. When adding 3 pips you are basically adding the difference between the bid and ask(depends on currency pair). In other words, you are waiting for the bid price line to be equal to or above the signal candles high before getting triggered in the trade. On shorts, because you get entered in the trade based on the bid price, you might consider less than 3 pips, just do what is right for you. Missing 3 pips or so on a 4 hour chart is really nothing compared to what can be gained.

1greyfox
  • #360
  • Sep 17, 2013 1:19pm Sep 17, 2013 1:19pm
Quoting orid
{quote} thanks for the good luck wishes I need Them , good luck to you also and everyone else here, Trades Today 4x 1hr trades 3 wins 1 loss = + 19 pips two I pulled out early for news to see them hit the TP also in GBP /jpy at moment looking bad its also the same one I lost on earlier -20 . also 2 x 4hr wins = 35pips , so =+ 54 total not bad considering just relying on signals , plus im a rank amature. off to bed . Regards orid
Hi orid.

In your post I get a sense of traders remorse, "If I had only___________"(fill in the blank). OK, so the trades did reach the final profit target, that shows your analysis and profit target was correct. BUT, what if price went against you and hit the stop, then you would be beating yourself up for not taking your profit when you had the chance. These situations present a no win thought pattern which isn't good. You closed the trades in profit and beat the market. Congrats!!!

The only expert with this method is garfield75, the rest of us are all rank amateurs, for now anyway. A month from now when each of us becomes comfortable and trusting of the setups presented on the chart, then we won't be amateurs any longer.

I think you are doing well, relax and enjoy the ride.

1greyfox
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