Islander and Medici trade the European open | Page 227 | Forex Factory

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Islander and Medici trade the European open

  • #4,521
  • Jan 21, 2014 9:10am Jan 21, 2014 9:10am
Quoting figgsey
{quote} PP - I agree, looking back at the 3 Dragons approach was very successful. Is it worth revisiting? Fig
Please feel free to explore Zohaib's idea - I'm staying with this set up - which has the stochs on the 1m chart and I have the matrix on my 5m multi chats on my second monitor..... but I've changed to a firey red & green two part dragon on my 1m, plus the MAs on my small 5m & 15m charts on my laptop.....so I still have plenty of dragons
Trading Levels with WRBs
  • #4,522
  • Jan 21, 2014 3:02pm Jan 21, 2014 3:02pm
Quoting Islander
{quote} Please feel free to explore Zohaib's idea - I'm staying with this set up - which has the stochs on the 1m chart and I have the matrix on my 5m multi chats on my second monitor..... but I've changed to a firey red & green two part dragon on my 1m, plus the MAs on my small 5m & 15m charts on my laptop.....so I still have plenty of dragons
Good idea judging from my trade yest. I looked at the M30 stoch on M1 and got on the right side of the trade - but only overnight
  • #4,523
  • Jan 22, 2014 8:26am Jan 22, 2014 8:26am
In my backtesting I was having problems with the higher TF MTF stochastics and Strada showed me the answer - use the Ultra Stochastic.....here's the link...http://www.forexfactory.com/showthre...tra+stochastic

My updated 1m chart is below....So now its the BBs for their "squeeze alert" then wait for genesis to show 4 Greens (Reds). The M15 stoch confirms and if its OB/OS then only trade that way. Need to research entries off the M5 stoch as it cycles up and down....

I keep the ADX minimised until a move looks overextended and then open it up to check for divergence....WIP
Attached Image (click to enlarge)
Click to Enlarge Name: jan22 ej 1m 1408.png Size: 77 KB
Trading Levels with WRBs
  • #4,524
  • Jan 22, 2014 1:07pm Jan 22, 2014 1:07pm
Quoting Islander
In my backtesting I was having problems with the higher TF MTF stochastics and Strada showed me the answer - use the Ultra Stochastic.....here's the link...http://www.forexfactory.com/showthre...tra+stochastic My updated 1m chart is below....So now its the BBs for their "squeeze alert" then wait for genesis to show 4 Greens (Reds). The M15 stoch confirms and if its OB/OS then only trade that way. Need to research entries off the M5 stoch as it cycles up and down.... I keep the ADX minimised until a move looks...
Thanks for the link. It looks useful for us....which TF would you recommend applying it to?

Feel free to PM me if you need any help backtesting. I can feed parameters etc. into a statistical tool such as SPSS and generate a correlation such as Pearson. I am for me

Yes the higher TFs are problematic for me too...
  • #4,525
  • Jan 22, 2014 1:14pm Jan 22, 2014 1:14pm
Quoting Islander
In my backtesting I was having problems with the higher TF MTF stochastics and Strada showed me the answer - use the Ultra Stochastic.....here's the link...http://www.forexfactory.com/showthre...tra+stochastic My updated 1m chart is below....So now its the BBs for their "squeeze alert" then wait for genesis to show 4 Greens (Reds). The M15 stoch confirms and if its OB/OS then only trade that way. Need to research entries off the M5 stoch as it cycles up and down.... I keep the ADX minimised until a move looks...
Some further thoughts...
- PVA volume analysis on M1 is not helpful...(?)
- BB breaking....how are you determining/confirming other than a visual narrowing..? Alien seems to use additional methods. Also Keltner may be worth a look..
  • #4,526
  • Jan 23, 2014 1:52am Jan 23, 2014 1:52am
Quoting figgsey
{quote} Thanks for the link. It looks useful for us....which TF would you recommend applying it to? Feel free to PM me if you need any help backtesting. I can feed parameters etc. into a statistical tool such as SPSS and generate a correlation such as Pearson. I am for me Yes the higher TFs are problematic for me too...
Yes, it does show a continually updating higher TF stoch on the 1m chart - much clearer than the MTF stoch I have been using.

At present I am just using the 5m and 15m on my 1m chart - I have the 30m on my 5m multi monitor.

TThanks for backtesting offer, I may take you up......
Trading Levels with WRBs
  • #4,527
  • Jan 23, 2014 1:59am Jan 23, 2014 1:59am
Quoting figgsey
{quote} Some further thoughts... - PVA volume analysis on M1 is not helpful...(?) - BB breaking....how are you determining/confirming other than a visual narrowing..? Alien seems to use additional methods. Also Keltner may be worth a look..

Yes, PVA volume IS useful - for exits - especially IF price is close to "a level"

Alien has a BB Squeeze indy, but it uses quite a lot of CPU and my i5 4 GB RAM machine is already overworked, so I use the bands on my price chart - not difficult to read them. I've looked at Keltner before, but prefer BBs for this application.
Trading Levels with WRBs
  • #4,528
  • Jan 23, 2014 3:40am Jan 23, 2014 3:40am
This is my complete 1m / 5m / 15m set up and as I've already posted the 1m chart in the 1m multi stochs thread, I've copied the comments. Whilst the 15m and higher TF stochs stay in the OB zone the rally may continue......


Wow - its all good news for € this morning - first the French Mfg PMI, then the German - both better than expectations.....

I dont trade EU or GU before 7:30 and as UJ was down until 7:55 I could'nt buy EJ - so I bought € - and cable....and later EJ too...

As usual, the big dogs had the news early and so € took off and with the stochs staying in the OB (Buy) zone plus price above the MA ribbon it was hold on until that high volume WRB - a green marubozo - at 8:39 - the fast stoch started to turn and a red appeared in the matrix, so tighten my stop to the high of the prior bar and wait to be taken out...

BTW, note the 2 squeezes in the BBs - a great alert to a move...
Attached Image (click to enlarge)
Click to Enlarge Name: jan23 eu multi 0934.png Size: 170 KB
Trading Levels with WRBs
  • #4,529
  • Jan 23, 2014 4:19am Jan 23, 2014 4:19am
For my latest charts, two indys missing from the File Attachments.....the Sonic PVA and Ribbon are on Page 2
Attached File(s)
File Type: ex4 !Ultra Stochastic Color Line.ex4   12 KB | 320 downloads
File Type: mq4 GenesisMatrix 2.21_1 nrp.mq4   20 KB | 294 downloads
Trading Levels with WRBs
  • #4,530
  • Jan 23, 2014 4:27am Jan 23, 2014 4:27am
This is the basic chart: the ribbon with coloured all averages and bollinger bands, M5 & M15 ultra stochs, genesis matrix and sonic PV histogram
Attached Image (click to enlarge)
Click to Enlarge Name: jan23 1m gu 1024.png Size: 52 KB
Trading Levels with WRBs
  • #4,531
  • Jan 23, 2014 6:35am Jan 23, 2014 6:35am
Quoting Islander
{quote} Yes, it does show a continually updating higher TF stoch on the 1m chart - much clearer than the MTF stoch I have been using. At present I am just using the 5m and 15m on my 1m chart - I have the 30m on my 5m multi monitor. TThanks for backtesting offer, I may take you up......
Have you taken a look at the other Ultra indies? The Bollinger for instance...looks interesting

I guess that you are using just the Ultra Colour Stats?
  • #4,532
  • Jan 23, 2014 6:41am Jan 23, 2014 6:41am
Quoting Islander
{quote} Yes, PVA volume IS useful - for exits - especially IF price is close to "a level" Alien has a BB Squeeze indy, but it uses quite a lot of CPU and my i5 4 GB RAM machine is already overworked, so I use the bands on my price chart - not difficult to read them. I've looked at Keltner before, but prefer BBs for this application.
Likewise, my CPU is hit big time with the Alien tech! And yes, Kelter is a substitute for Bollinger breakouts and not always effective.

Thanks for your take on PVA volume. It looks real important around whole numbers. Not sure whether I bought into TAH's MM view on this as retail punters wade in too late usually (spiking vol).
  • #4,533
  • Jan 23, 2014 6:44am Jan 23, 2014 6:44am
Quoting Islander
This is my complete 1m / 5m / 15m set up and as I've already posted the 1m chart in the 1m multi stochs thread, I've copied the comments. Whilst the 15m and higher TF stochs stay in the OB zone the rally may continue...... Wow - its all good news for € this morning - first the French Mfg PMI, then the German - both better than expectations..... I dont trade EU or GU before 7:30 and as UJ was down until 7:55 I could'nt buy EJ - so I bought € - and cable....and later EJ too... As usual, the big dogs had the news early and so € took off and...
Outstanding, have you ever had a bad day!?
  • #4,534
  • Jan 23, 2014 7:08am Jan 23, 2014 7:08am
Islander - out of interest how did you arrive at 25/60 for your ribbon?
  • #4,535
  • Edited 10:06am Jan 23, 2014 9:56am | Edited 10:06am
Quoting figgsey
{quote} Outstanding, have you ever had a bad day!?
of course - whenever I ignore my trading rules which means a lack of disiclipine / patience.....

RE: the Sonic PV Histogram - I have the alerts turned on as a reminder to look closely at what's happening - they show up around most turns
Trading Levels with WRBs
  • #4,536
  • Jan 23, 2014 10:01am Jan 23, 2014 10:01am
Quoting handy148
Islander - out of interest how did you arrive at 25/60 for your ribbon?
they are the only inputs allowed in the Genesis thread and as I felt that the 30 / 125 that I posted on the first (recent) ribbon was "too slow" for 1m entries, I changed to the faster setting.......still WIP
Trading Levels with WRBs
  • #4,537
  • Jan 23, 2014 10:43am Jan 23, 2014 10:43am
Quoting Islander
{quote} they are the only inputs allowed in the Genesis thread and as I felt that the 30 / 125 that I posted on the first (recent) ribbon was "too slow" for 1m entries, I changed to the faster setting.......still WIP
I'm using ema30/ sma105 at present. I've been through so many combinations since The 3 Dragons & have to settle on something so hopefully this is finally it. Looks good so far anyway.
  • #4,538
  • Jan 23, 2014 4:14pm Jan 23, 2014 4:14pm
Quoting Sober_Colm
{quote} I'm using ema30/ sma105 at present. I've been through so many combinations since The 3 Dragons & have to settle on something so hopefully this is finally it. Looks good so far anyway.
I am trying to likewise and settle on a derivative of 3 Dragons and reduce the no of indies. Looks like I am spoilt for choice
  • #4,539
  • Edited 2:23am Jan 24, 2014 1:34am | Edited 2:23am
Quoting figgsey
I am trying to likewise and settle on a derivative of 3 Dragons and reduce the no of indies. Looks like I am spoilt for choice
I've pulled ADX & Adv ADX entirely & the G-Matrix from the 5m chart (& I'm still not 100% on the 1m matrix as I'm using volume & CCI independently anyway). No need for the m5 sto if you're using the m1 RSIoMA (14) as they are essentially the same thing so there's another indy that can be dumped. Definitely agree on cutting down on what you're looking at, God knows we've been through some amount of indy's at this stage!

Edit: Here's an example of what my entries look like now. I look at the m15 Drake Delay to tell me which way I should be trading on each of EJ, GJ, EU, GU & then see who's the strongest looking overall & right now on UJ then enter based on these 2. The squiggley lines are the Ultra stochastic as borrowed from Islander's more recent setup, just to give me a more current idea of where the m30 stoch is headed. This was EJ this morning for 24p, m5 then m1. Exit was based on CCI(14) (see ForexCube's threads (http://www.forexfactory.com/forexcube)) & volume divergence at the **75.
Attached Images
  • #4,540
  • Jan 24, 2014 3:47am Jan 24, 2014 3:47am
I agree - too many indys - but that's what research / WIP is all about and hopefully we are close to fixing our own set-ups

I have reset the matrix to the 1m TF as IMO it is vital to take 1m entries quickly and to learn to have confidence in our set up. I've been posting charts in the MTF Stochastic thread and as I'm going out, I will not duplicate....BFN
Trading Levels with WRBs
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