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Multi time frame Simple MACD system

  • #361
  • Sep 17, 2013 1:37pm Sep 17, 2013 1:37pm
Quoting Baggi
{quote} 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?
Hi Baggi.

The system is still the same using the MACD indicator set to 3 different settings, what has changed is there is a new indicator located at the bottom of post 1, it is called MTF MACD Signal v1.1.ex4. With this indicator you can replace the 3 MACD's on the chart as this will turn to red or blue depending on whether the signal is long or short. Some users have mentioned a problem with the signal itself so I set it to off. The way I set up my charts I can scan them in less than 2 minutes every 4 hours, daily, or 1 hour depending on which timeframe you trade so no sound alert needed. You can open your charts and tile them however you want, here is the post which shows my setup http://www.forexfactory.com/showthre...63#post6963963 Garfield75 only trades 4 hour and daily so using shorter times is at you own risk. Well ,so is every other time frame.

When I see a setup using the MTF MACD indi I open a new chart and apply the original setup template to the chart as I prefer to see exactly what the different MACD's look like. Each of you will have to decide what is best for your style.

I know you said never-mind in your next post but I didn't see that until I wrote this reply.

Happy trading!

1greyfox
  • #362
  • Sep 17, 2013 5:22pm Sep 17, 2013 5:22pm
Quoting 1greyfox
{quote} 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...
Thanks Greyfox great words of wisdom , always appreciated and taken on board ,
All the best
Orid
  • #363
  • Sep 17, 2013 5:22pm Sep 17, 2013 5:22pm
For this system, monday and friday is not the best day to trade. so avoid those days for trading. As all of you saw the result in EA performace on that.

We have added feature in the EA to have the option of not trading during certain days.

Testing continues on EA.


I havn't had much time to trade yet this week.

Long on GBPCAD and NZDUSD on daily chart.

Cheers
Trading is SIMPLE not EASY.
  • #364
  • Sep 17, 2013 6:12pm Sep 17, 2013 6:12pm
I must have busted mine or something. This is what I get when I try to load it, after the program locks up.

Attached Image (click to enlarge)
Click to Enlarge Name: Error.JPG Size: 120 KB


What I did was download it from this thread, then I moved it into MT4, Experts/indicators folder.

I then restarted my MT4 program, but it still looks like that.
  • #365
  • Sep 18, 2013 2:45am Sep 18, 2013 2:45am
Quoting Baggi
I must have busted mine or something. This is what I get when I try to load it, after the program locks up. {image} What I did was download it from this thread, then I moved it into MT4, Experts/indicators folder. I then restarted my MT4 program, but it still looks like that.
Baggi you need the 3colormacd.mq4 indy as well as the new indy in the indicators directory as it uses that for its signals. I've attached it below for you.

Regards

Mike
Attached File(s)
File Type: mq4 3colorMACD.mq4   4 KB | 486 downloads
  • #366
  • Sep 18, 2013 3:59am Sep 18, 2013 3:59am
Garfield, am I understanding correctly that you only trade this strategy 3 days a week. If this is true do you start your week at the Monday rollover and do you close out at the end of the day on Thursday?
  • #367
  • Sep 18, 2013 4:04am Sep 18, 2013 4:04am
Quoting fwoodley
Garfield, am I understanding correctly that you only trade this strategy 3 days a week. If this is true do you start your week at the Monday rollover and do you close out at the end of the day on Thursday?
garfield75 sent me a email to update the EA with the following criteria:

1) EA shouldn't take any trade on monday till london opens. (ignore first 2 candles of the week).
2) EA shouldn't take any trade on Friday after london opens. (ignore last 4 candles of the week).

So hopefully this clarifies the trading times, assuming H4 charts!

Regards

Mike
  • #368
  • Sep 18, 2013 4:18am Sep 18, 2013 4:18am
Quoting fwoodley
Garfield, am I understanding correctly that you only trade this strategy 3 days a week. If this is true do you start your week at the Monday rollover and do you close out at the end of the day on Thursday?
I don't take trades till NY start on monday and don't open any new trades on Friday london session onward. If there are trades which are already open, I let them run there course over the weekend...

And with update to the EA, everyone will be able to configure the start and end time for trading.

Cheers
Trading is SIMPLE not EASY.
  • #369
  • Sep 18, 2013 6:46am Sep 18, 2013 6:46am
Quoting garfield75
{quote} I don't take trades till NY start on monday and don't open any new trades on Friday london session onward. If there are trades which are already open, I let them run there course over the weekend... And with update to the EA, everyone will be able to configure the start and end time for trading. Cheers
Thankyou for that Garfield, Couple im in at the moment
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #370
  • Sep 18, 2013 6:51am Sep 18, 2013 6:51am
Quoting garfield75
{quote} I don't take trades till NY start on monday and don't open any new trades on Friday london session onward. If there are trades which are already open, I let them run there course over the weekend... And with update to the EA, everyone will be able to configure the start and end time for trading. Cheers
Do you ignore Mon Fri also on Daily trading?
  • #371
  • Sep 18, 2013 8:17am Sep 18, 2013 8:17am
Quoting lucariga
{quote} Do you ignore Mon Fri also on Daily trading?
I don't ignore Friday daily signals. Monday daily signals, I wait till london opens and then put pending stop only order, if price has already move beyond my entry then I ignore that trade.
Trading is SIMPLE not EASY.
  • #372
  • Sep 18, 2013 5:34pm Sep 18, 2013 5:34pm
Quoting magft
{quote} Baggi you need the 3colormacd.mq4 indy as well as the new indy in the indicators directory as it uses that for its signals. I've attached it below for you. Regards Mike {file}
I might be putting them in the wrong directory.

I have under Crogram Files-> MetaTrader -> Experts -> Indicators: 3colorMACD and 4 hours-multitfmacd.

This is what they look like when I drag them over in MetaTrader:

Attached Image (click to enlarge)
Click to Enlarge Name: 4hour.JPG Size: 179 KB
  • #373
  • Sep 18, 2013 6:43pm Sep 18, 2013 6:43pm
Quoting orid
{quote} Thankyou for that Garfield, Couple im in at the moment {image}{image}

Hey Orid,

How did you go with your trades on GBPCAD and GBPUSD ?


My Daily GBPCAD trade is at BE, NZDUSD trade hit target.
Have pending short on EURGBP and long GBPJPY on daily chart.

Due to right ranging market, i didn't take any 4 hours chart trade yesterday..
Trading is SIMPLE not EASY.
  • #374
  • Sep 18, 2013 10:44pm Sep 18, 2013 10:44pm
Quoting garfield75
{quote} Hey Orid, How did you go with your trades on GBPCAD and GBPUSD ? My Daily GBPCAD trade is at BE, NZDUSD trade hit target. Have pending short on EURGBP and long GBPJPY on daily chart. Due to right ranging market, i didn't take any 4 hours chart trade yesterday..
Hello Garfield 75, Those two trades GB/CAD and GB US Both went to tp at + 67 and +57 pips however ,I have to be honest here and do need your advice here

please.
Although I do try to treat this demo as IF this was a LIVE ! account , with the major news on the horizon and I had to go to bed at the time ,,(both where only

a few pips up at the time so no BE ) I Think under live trading cicumstances I would have pulled out because of that FOMC news coming up
.
I know this is a hard ask but what are your rules on this?

I think I will just have to open a live account and trade micro what you reckon? which Greyfox has already recommended bless his cotton socks.

Sorry to ramble on , thankyou for this system very very impressive!
Regards Orid
  • #375
  • Edited Sep 19, 2013 1:25am Sep 18, 2013 11:35pm | Edited Sep 19, 2013 1:25am
a bit late just triggered
Attached Image (click to enlarge)
Click to Enlarge Name: 11.png Size: 152 KB

EDIT actually I think I should have that stop at top of wick ,
  • #376
  • Sep 18, 2013 11:47pm Sep 18, 2013 11:47pm
Quoting orid
{quote} Hello Garfield 75, Those two trades GB/CAD and GB US Both went to tp at + 67 and +57 pips however ,I have to be honest here and do need your advice here please. Although I do try to treat this demo as IF this was a LIVE ! account , with the major news on the horizon and I had to go to bed at the time ,,(both where only a few pips up at the time so no BE ) I Think under live trading cicumstances I would have pulled out because of that FOMC news coming up . I know this is a hard ask but what are your rules on this? I think I will just have...

Mindset is the biggest differentiator between winners and losers in the game of trading.

I have the same issue as you with timing, since I live in Sydney.

Since my system is based on multi timeframe and trend, most of the time news will move the market in the direction of the trend, worst case there is always stoploss to get you out of the trade without blowing your account.

When a trade is triggered/active, I go to my MT4 platform on my VPS and put an alert on price at 50%. So when the price is at 50% it will trigger a notification, which is linked to my mobile MT4 on my phone, therefore when the phone rings in the middle of the night, I pick it up, open my MT4 and move my stoploss to breakeven and go back to sleep. Easy as that..
Trading is SIMPLE not EASY.
  • #377
  • Sep 19, 2013 12:54am Sep 19, 2013 12:54am
Quoting garfield75
{quote} Mindset is the biggest differentiator between winners and losers in the game of trading. I have the same issue as you with timing, since I live in Sydney. Since my system is based on multi timeframe and trend, most of the time news will move the market in the direction of the trend, worst case there is always stoploss to get you out of the trade without blowing your account. When a trade is triggered/active, I go to my MT4 platform on my VPS and put an alert on price at 50%. So when the price is at 50% it will trigger a notification, which...
What a great idea, Vps works without PC switched on I believe, looks like I will invest ,when I open live which will be very soon. Then the real battle starts with the old grey matter.LOL
Thanks again
Orid
  • #378
  • Sep 19, 2013 2:24am Sep 19, 2013 2:24am
Late in on this daily but looking good at BE
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  • #379
  • Sep 19, 2013 2:33am Sep 19, 2013 2:33am
Quoting orid
Late in on this daily but looking good at BE{image}
Closed @ + 72 PIPS going out , see you later,
Garfield did you get your TP on this?
Orid
  • #380
  • Sep 19, 2013 2:41am Sep 19, 2013 2:41am
looks like another good one on H4, now I gonna go out (late)
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