Islander and Medici trade the European open | Page 225 | Forex Factory

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Islander and Medici trade the European open

  • #4,481
  • Jan 16, 2014 9:04am Jan 16, 2014 9:04am
Quoting figgsey
{quote} I would like to a closer look at the CII Trend indicator, could you please possibly post...? Cheers Capt

NP / its a double CCI that I found here in FF
Attached File(s)
File Type: mq4 DoubleCCI-With_SMA.mq4   7 KB | 220 downloads
Trading Levels with WRBs
  • #4,482
  • Jan 16, 2014 10:01am Jan 16, 2014 10:01am
Quoting Islander
{quote} I use it on the 5m as an entry filter for my 1m chart and on the 5m multi display to monitor the UJ for harmony with EU / GU. I ignore it once I'm in a trade. Currently, 3 reds in UJ is telling me NOT to trade EJ or GJ, but to focus on EU or GU IF I want to trade.....they both have 4 x 5m greens / blues......I did buy EurUsd for a few pips and now I'm waiting for NYO 2 and then the Philly Fed 30 mins later.... {image}
Its a little slow with sudden swings.. Do you wait for the tick close on M5?

I am also looking at the ATR re M5...
  • #4,483
  • Jan 16, 2014 10:02am Jan 16, 2014 10:02am
Quoting Islander
{quote} NP / its a double CCI that I found here in FF {file}
Brilliant

Thanks
  • #4,484
  • Jan 16, 2014 10:10am Jan 16, 2014 10:10am
One huge advantage in focusing on the M1, M5 and M15 TFs is that longer term say 1HR trend analysis is effectively moribund. Is that your view too?
  • #4,485
  • Jan 17, 2014 1:12am Jan 17, 2014 1:12am
Quoting figgsey
{quote} Its a little slow with sudden swings.. Do you wait for the tick close on M5? I am also looking at the ATR re M5...
No if its flickering on 4 green or red during the 5m period and the other indys say OK then I'll take the entry.....once the bar closes, the colours are fixed.

I start my day by looking at the higher TFs and update my note book, but intra day I only watch the 1m, 5m & 15m charts...
Trading Levels with WRBs
  • #4,486
  • Jan 17, 2014 2:15am Jan 17, 2014 2:15am
very tight so far.....increased volume in that 7:30 WRB was a great alert for a few pips.....I forgot to add BBs to this chart - there was a big squeeze before the move - an Alien alert
Attached Image (click to enlarge)
Click to Enlarge Name: jan17 gu 1m 0812.png Size: 34 KB
Trading Levels with WRBs
  • #4,487
  • Jan 17, 2014 2:27am Jan 17, 2014 2:27am
My Alien chart for comparison....WIP

PS I'm still in "sit on hands mode".......
Attached Image (click to enlarge)
Click to Enlarge Name: jan17 gu 1m alien 0820.png Size: 44 KB
Trading Levels with WRBs
  • #4,488
  • Edited 2:52am Jan 17, 2014 2:29am | Edited 2:52am
Quoting Islander
very tight so far.....increased volume in that 7:30 WRB was a great alert for a few pips.....I forgot to add BBs to this chart - there was a big squeeze before the move - an Alien alert
I'm dallying with the idea of waiting for a return to the median if price reaches out beyond the BBs. In the case of GU it meant holding off till the close of 7:44 to enter. Currently short EJ.

Edit: Once volume left the market decided to exit the trade.
  • #4,489
  • Jan 17, 2014 3:01am Jan 17, 2014 3:01am
Quoting Sober_Colm
{quote} I'm dallying with the idea of waiting for a return to the median if price reaches out beyond the BBs. In the case of GU it meant holding off till the close of 7:44 to enter. Currently short EJ. Edit: Once volume left the market decided to exit the trade.
BBs hold a wealth of information. Mine are EMA based with the AllAverages EMA replacing the median line

I'm waiting to see if the UK Retail Sales data wakes cable up.....half an hour to go.....
Trading Levels with WRBs
  • #4,490
  • Jan 17, 2014 3:10am Jan 17, 2014 3:10am
Quoting Islander
{quote} BBs hold a wealth of information. Mine are EMA based with the AllAverages EMA replacing the median line
I'm using the 30ema as my median. Thanks for the tip on the BB EMA, have just updated the code on mine now as a result, cheers.
  • #4,491
  • Jan 17, 2014 3:33am Jan 17, 2014 3:33am
Quoting Islander
{quote} No if its flickering on 4 green or red during the 5m period and the other indys say OK then I'll take the entry.....once the bar closes, the colours are fixed. I start my day by looking at the higher TFs and update my note book, but intra day I only watch the 1m, 5m & 15m charts...
For the higher TFs do you look at PA or/and an indicator?

The problem I have with the alerts is that these are generated from the various indicators, and I could do with using just one. Do you have any recommendations? Ta
  • #4,492
  • Jan 17, 2014 4:37am Jan 17, 2014 4:37am
Quoting figgsey
{quote} For the higher TFs do you look at PA or/and an indicator? The problem I have with the alerts is that these are generated from the various indicators, and I could do with using just one. Do you have any recommendations? Ta
Yes - see attached - the high so far is actually today's R3 level where I sold looking for R2 - closed for 20 as I have to go out. My earlier buy was 20 mins before the data.....so that was nice

As this is WIP, you'll have to decide what YOU want to take off.....I have yet to decide....BFN
Attached Image (click to enlarge)
Click to Enlarge Name: jan17 gu 60m 1030.png Size: 45 KB
Trading Levels with WRBs
  • #4,493
  • Jan 17, 2014 7:43am Jan 17, 2014 7:43am
Quoting Islander
{quote} Yes - see attached - the high so far is actually today's R3 level where I sold looking for R2 - closed for 20 as I have to go out. My earlier buy was 20 mins before the data.....so that was nice As this is WIP, you'll have to decide what YOU want to take off.....I have yet to decide....BFN {image}
Ah, I see. You keep it simple. Thanks
  • #4,494
  • Jan 17, 2014 8:33am Jan 17, 2014 8:33am
Cable could be expected to rest after its 120 pip news rally, so look at fibre / EJ. The sell lined up in the 13:10 5m bar, with the 1m stochs peaking and RSIOMA < 50 etc. By 14:10 the lower faster ADXs showed divergence as price held ~ the **50 SS, so that was the final signal to exit.....
Attached Image (click to enlarge)
Click to Enlarge Name: jan17 ej multi 1424.png Size: 181 KB
Trading Levels with WRBs
  • #4,495
  • Jan 17, 2014 10:14am Jan 17, 2014 10:14am
Last one today - waited for the 5m matrix to start flashing red after price was held under yesterday's low....€ was heading for its low from last week, but as the faster ADXs told that the momentum was falling I took was was on offer - its been a rather good day.....BFN
Attached Image (click to enlarge)
Click to Enlarge Name: jan17 ej 1m 1608.png Size: 50 KB
Trading Levels with WRBs
  • #4,496
  • Jan 17, 2014 10:33am Jan 17, 2014 10:33am
Quoting Islander
Last one today - waited for the 5m matrix to start flashing red after price was held under yesterday's low....€ was heading for its low from last week, but as the faster ADXs told that the momentum was falling I took was was on offer - its been a rather good day.....BFN {image}
Looks good, RSIOMA set at 14....? Is that too high for M1
  • #4,497
  • Jan 17, 2014 11:17am Jan 17, 2014 11:17am
Quoting figgsey
{quote} Looks good, RSIOMA set at 14....? Is that too high for M1
I have no idea - its the standard setting.....why not try some others and let me have your thoughts.....
Trading Levels with WRBs
  • #4,498
  • Jan 17, 2014 11:44am Jan 17, 2014 11:44am
RSIoMA 14 seems to work at m1 for me & at m15. I'm starting to use m15 RSIoMA/ Drake Delay sto as my initial indicator/ filter to force my hand as to trading direction or what I expect to happen in the hour or 2 ahead. So far so good. If the m30 stoch is not in agreement with what I think the m15 RSIoMA/ Drake Delay are telling me is coming then the trade is off.
  • #4,499
  • Jan 17, 2014 11:59am Jan 17, 2014 11:59am
Quoting Islander
{quote} I have no idea - its the standard setting.....why not try some others and let me have your thoughts.....
I could be wrong but I seem to recall one of your M5 screens using a lower value...10 I think

Could be my mistake but Ill check

Cheers
  • #4,500
  • Jan 18, 2014 4:21pm Jan 18, 2014 4:21pm
Quoting Sober_Colm
RSIoMA 14 seems to work at m1 for me & at m15. I'm starting to use m15 RSIoMA/ Drake Delay sto as my initial indicator/ filter to force my hand as to trading direction or what I expect to happen in the hour or 2 ahead. So far so good. If the m30 stoch is not in agreement with what I think the m15 RSIoMA/ Drake Delay are telling me is coming then the trade is off.
I do likewise The M15 trend for setting up (using RSIO but also HA). I look at the longer term trend through an M30 prism, as longer TFs are not too helpful for day trading.
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