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Attachments: Tenkan-sen Breakout/Reversal Project
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Tenkan-sen Breakout/Reversal Project

  • #21
  • Mar 15, 2014 2:19pm Mar 15, 2014 2:19pm
Hi Rooi

I notice your charts are 5M, I've had a long look at a number of 1H charts and this indicator looks useful on those too (commodities and indices as well as the forex majors). I like the idea of a moving line in the sand, long above and short below.

As with all trending methods the choppy periods can be messy, but the trends more than make up for this as long as you can accept the whipsaw losses and be patient enough to wait for the trends to form.

The whipsaw losses obviously tend to be larger on the 1H timeframe compared to the 5M, but when the trends form positions can often be held open for 3-5 days.

More backtesting to be done over the weekend but this looks promising thank you.

Andy
  • #22
  • Edited 1:42am Mar 16, 2014 1:18am | Edited 1:42am
Quoting Andy B
Hi Rooi I notice your charts are 5M, I've had a long look at a number of 1H charts and this indicator looks useful on those too (commodities and indices as well as the forex majors). I like the idea of a moving line in the sand, long above and short below. As with all trending methods the choppy periods can be messy, but the trends more than make up for this as long as you can accept the whipsaw losses and be patient enough to wait for the trends to form. The whipsaw losses obviously tend to be larger on the 1H timeframe compared to...
Hi Andy

Thanks for taking the time post and for doing some visual backtesting with the idea.

Yes I had a look at the 1Hr as well but like you said there are less opportunities to enter.Might be a good thing.

Lets see what testing we can do this coming week.It really super simple and we have to do is fight off the ranging periods(not always easy but can be done)

Thanks for your time

Rooi
We miss 100% of the shots we don't take
  • #23
  • Edited 10:09am Mar 17, 2014 5:01am | Edited 10:09am
So decided to do the 1hr tf as it is less "decisions" to make and longer for the signal to develop as well as less trades and hopefully a higher R:R with less effort and maintenance

BUT

At the moment Im testing the Signal more than the R:R as I want to see how signals develop and progress

Short

SL = 40 pips X 2 positions = 80 pips

TP 1 = ?

TP 2 = ?

Will update as we continue

UPDATE

SL =32 pips X 1 positions = 32 pips

TP 1 = 13

TP 2 = Stopped out for -32

Will update as we continue
Rooi
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 17 03 2014 test.png Size: 14 KB
Click to Enlarge Name: 17 03 2014 test2.png Size: 15 KB
We miss 100% of the shots we don't take
  • #24
  • Mar 17, 2014 5:47am Mar 17, 2014 5:47am
Hello Roi

I am using something similar, From my experience i can tell you few things.
You can use few diferent ways to gain some pips. If you use cros entry exit when is trandy you will kill, if it is ranging you are kiled, but pips can be maid.

Anather thing on cros entry exits - you can for example use pair with smaller spred and find renging period (EURUSD - european time from 18h till 6 in the morning) in that period you can do revers trading, so when you want to go long go short. with this options you can make form 10 20 30 40 pips max on that period. I am combining 4 pairs on that ranging period.

And when you find all setups analize charts etc you will be crazy and you will have to make ea for this typ of trading, manual is so hard especialy on smaller time frames and with 2-4 pair to trade.


You can allso use this for trend trading. wait the price goes hard under or oposit of tenken or kijun and goes for brakes.

If you use smaller tf you will have smal sl but it will be much more sl trades, if you want to go with bigger tf sl will be biger.

Here is example of one my chart. Will be foloving this thread and post some other info when i have time. You just kipp analizing this way of trading.
Best regards
Damir
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 24 KB
  • #25
  • Mar 17, 2014 6:41am Mar 17, 2014 6:41am
Quoting Croat
Hello Roi I am using something similar, From my experience i can tell you few things. You can use few diferent ways to gain some pips. If you use cros entry exit when is trandy you will kill, if it is ranging you are kiled, but pips can be maid. Anather thing on cros entry exits - you can for example use pair with smaller spred and find renging period (EURUSD - european time from 18h till 6 in the morning) in that period you can do revers trading, so when you want to go long go short. with this options you can make form 10 20 30 40 pips max on that...

Hi Damir

Thanks for taking the time to post.

I would really appreciate it if you did post some of you trades and experience using this style of trading

Would you mind sharing your indicator that changes the color of the candles

All the best.

Rooi
We miss 100% of the shots we don't take
  • #26
  • Mar 17, 2014 6:57am Mar 17, 2014 6:57am
Quoting Rooi
PLEASE NOTE ALL TRADES ARE DEMO AND IM JUST TESTING THE IDEA UNIT OTHERWISE STATED. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Hi all. This is far from a mechanical system but is very basic. Basically trade a bounce or a break of the Tenkan-sen line that is apart of the Ichimoku Kinko Hyo. Just basic PA reading really The definition and explanation of the Non-cloud thingy / line is the following...

That is not the Tenken Sen. You are using the Kijun-sen
  • #27
  • Mar 17, 2014 7:02am Mar 17, 2014 7:02am
I am using Kijun, so here is the Kijun candles indicator.
Attached File(s)
File Type: mq4 0 - Kijun Candles Two Colors.mq4   3 KB | 650 downloads
  • #28
  • Mar 17, 2014 7:13am Mar 17, 2014 7:13am
The original poster is calling the line that he is using the Tenken-sen. iT is not the tenken but the Kijun-sen.
  • #29
  • Mar 17, 2014 10:07am Mar 17, 2014 10:07am
Hi guys

This is the way I have the indicator set up
Attached Image (click to enlarge)
Click to Enlarge Name: yellow line 3.png Size: 67 KB
We miss 100% of the shots we don't take
  • #30
  • Mar 17, 2014 10:10am Mar 17, 2014 10:10am
Quoting Croat
I am using Kijun, so here is the Kijun candles indicator. {file}

Thanks for the indicator

Where did you find it or download it.OR did you program it yourself?

Rooi
We miss 100% of the shots we don't take
  • #31
  • Mar 17, 2014 10:18am Mar 17, 2014 10:18am
Quoting Rooi
So decided to do the 1hr tf as it is less "decisions" to make and longer for the signal to develop as well as less trades and hopefully a higher R:R with less effort and maintenance BUT At the moment Im testing the Signal more than the R:R as I want to see how signals develop and progress Short SL = 40 pips X 2 positions = 80 pips TP 1 = ? TP 2 = ? Will update as we continue UPDATE SL =32 pips X 1 positions = 32 pips TP 1 = 13 TP 2 = Stopped out for -32 Will update as we continue Rooi {image} {image}
Good Luck with your new thread.
Love for all; Hatred for none.
  • #32
  • Mar 17, 2014 10:54am Mar 17, 2014 10:54am
Quoting Rooi
Hi guys This is the way I have the indicator set up {image}

What parameters you are studying 26 or higher ? Did you try to look at 70 or 200 ?
  • #33
  • Mar 17, 2014 10:57am Mar 17, 2014 10:57am
Quoting Rooi
{quote} Thanks for the indicator Where did you find it or download it.OR did you program it yourself? Rooi
I found this indy on MYQL forum....
  • #34
  • Mar 17, 2014 10:57am Mar 17, 2014 10:57am
Quoting aahmad29
{quote} Good Luck with your new thread.

Thanks mate

Lets see where it goes

See you are killing it this month

Rooi
We miss 100% of the shots we don't take
  • #35
  • Mar 17, 2014 10:58am Mar 17, 2014 10:58am
Quoting Croat
{quote} What parameters you are studying 26 or higher ? Did you try to look at 70 or 200 ?

Im using the 120 at the moment

Do you make constant pips with the Kijun?
We miss 100% of the shots we don't take
  • #36
  • Mar 17, 2014 11:00am Mar 17, 2014 11:00am
Quoting Croat
{quote} I found this indy on MYQL forum....
Very nice

I will have a look there for the Tenkan-sen
We miss 100% of the shots we don't take
  • #37
  • Mar 17, 2014 11:16am Mar 17, 2014 11:16am
Quoting Rooi
{quote} Very nice I will have a look there for the Tenkan-sen

Try to put same value numbar in propertis and you will see that kijun and taken are the same.

Here you go custom indy i use
Attached File(s)
File Type: ex4 Kijun Tenkan.ex4   5 KB | 602 downloads
  • #38
  • Mar 18, 2014 4:05am Mar 18, 2014 4:05am
Quoting Croat
{quote} Try to put same value numbar in propertis and you will see that kijun and taken are the same. Here you go custom indy i use {file}
Thanks

I will have a look at it.
We miss 100% of the shots we don't take
  • #39
  • Edited 4:29am Mar 18, 2014 4:08am | Edited 4:29am
Quoting Andy B
Hi Rooi I notice your charts are 5M, I've had a long look at a number of 1H charts More backtesting to be done over the weekend but this looks promising thank you. Andy
Craze busy at the moment

In this trade since yesterday (EJ)

Just hit my stop on GU yesterday

TP1 = 17 pips

TP2 = ?

SL 50 X 1 position

Rooi
Attached Image (click to enlarge)
Click to Enlarge Name: 18 03 2014.png Size: 39 KB
We miss 100% of the shots we don't take
  • #40
  • Last Post: Mar 20, 2014 6:56am Mar 20, 2014 6:56am
Quoting Rooi
{quote} Craze busy at the moment In this trade since yesterday (EJ) Just hit my stop on GU yesterday TP1 = 17 pips TP2 = ? SL 50 X 1 position Rooi {image}

TP 1 = 17 pips

TP 2 = 61 pip

= 78 (4days)

BUT

Like I said just testing the signal for now(pretty effortless so far )
Attached Image (click to enlarge)
Click to Enlarge Name: Yellow line 4.png Size: 18 KB
We miss 100% of the shots we don't take
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