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My Market Order System

  • #1,021
  • May 15, 2014 9:44am May 15, 2014 9:44am
Hi

I once experimented with this indicator, but did not find success with it as it repaints.....when you go back it looks near perfect but that is because it works on zigzag system and new yellow dot appears on candle high or low.....

I would suggest adding many more filters
  • #1,022
  • Edited 11:12am May 15, 2014 10:59am | Edited 11:12am
Here's a better version of the semafor less stress on CPU usage....
This also comes with a trend line.
Attached File(s)
File Type: ex4 3_Level_ZZ_Semafor_II_MODIFIED_VERSION.ex4   18 KB | 499 downloads
File Type: mq4 3_Level_ZZ_Semafor_II_MODIFIED_VERSION.mq4   17 KB | 545 downloads
Creditors have better memories than debtors.
  • #1,023
  • May 15, 2014 11:12am May 15, 2014 11:12am
Quoting Feefee
Hi I once experimented with this indicator, but did not find success with it as it repaints.....when you go back it looks near perfect but that is because it works on zigzag system and new yellow dot appears on candle high or low..... I would suggest adding many more filters
Hi Feefee, What TF were you using this on? I think the longer time-frames work better.
  • #1,024
  • May 15, 2014 11:20am May 15, 2014 11:20am
I used it on H1
  • #1,025
  • May 15, 2014 12:12pm May 15, 2014 12:12pm
Quoting taru
{quote} Absolutely right. I'm watching it too and waiting for the current candle to close in a couple of minutes.
Hi Taru, you still looking at eur/usd then? I'm going to watch the 1hr for a better entry i think.
  • #1,026
  • May 15, 2014 12:20pm May 15, 2014 12:20pm
Quoting saytin
{quote} Hi Taru, you still looking at eur/usd then? I'm going to watch the 1hr for a better entry i think.
Yes and the semafor has not moved. Everything looks good so I am about to place a BUY STOP at the high of the last completed candle at 1.37326.
The trader IS the holy grail.
  • #1,027
  • May 15, 2014 2:50pm May 15, 2014 2:50pm
Quoting taru
{quote} Yes and the semafor has not moved. Everything looks good so I am about to place a BUY STOP at the high of the last completed candle at 1.37326.
Hey taru, if I don't make a mistake, yesterday your account was +16% and today is -48%.

with my MM rules I risk just 2% of my account for every trade.

what MM rules are you using to have a 60% drawdown in just 1 day?

thanks in advance
  • #1,028
  • May 15, 2014 3:19pm May 15, 2014 3:19pm
Quoting lucariga
{quote} Hey taru, if I don't make a mistake, yesterday your account was +16% and today is -48%. with my MM rules I risk just 2% of my account for every trade. what MM rules are you using to have a 60% drawdown in just 1 day? thanks in advance
I risk 1% on every trade. Just goes to show the many ways numbers can be presented. What you may be seeing is the equity that is negative as many profitable trades closed and many stop losses hit. Actually the account doesn't look that bad if you switch to balance.
The trader IS the holy grail.
  • #1,029
  • May 15, 2014 4:09pm May 15, 2014 4:09pm
Quoting taru
{quote} Yes and the semafor has not moved. Everything looks good so I am about to place a BUY STOP at the high of the last completed candle at 1.37326.
Was going to go in at 1.3735 but then i seen that Yellen speaks in 2 hrs. will review possible trade in the morning.
  • #1,030
  • May 15, 2014 4:51pm May 15, 2014 4:51pm
Quoting taru
{quote} You took the words out of my mouth. Of course I have had winning trades and losing trades. Though the winners have been huge and losses small, the latter are not letting the account balance take off due to their sheer number. Clearly something is missing that'll improve the odds of increasing the win ratio and after reading a few posts by Eitan, Ezzy and ForexSwag not to mention Bob's first post, I'm now thinking of a modification to my rules that will take into account the two modes of the market (trending or ranging) and take trades either...
I have carried out a preliminary audit of my trades and have drawn a very interesting conclusion. The 3 level zz semafor is a super indicator provided its used correctly. Of course that's true for everything but for this indicator to help a trader, one needs to understand that the semafors it paints look similar but carry different meanings depending on the context.

Basically the best use of the 3 level zz semafor indicator is to signal the end of a short term correction and resumption of the main trend.

In other words, the best use of a semafor signal is in the direction of the main trend, not against it.

Based on the above, I'm adding a further filter to my way of validating a setup on the daily charts for the H4 trading method as follows:

1. LONG level 3 signal must be higher than the previous LONG level 3 signal OR SHORT level 3 signal must be lower than the previous SHORT level 3 signal.
2. LONG level 2 signal must be higher than the previous LONG level 2 or 3 signal OR SHORT level 2 signal must be lower than the previous SHORT level 2 or 3 signal.

This means that the first opposite level 2 signal occurring after a level 3 signal will be discarded as it won't have anything to be compared with.
Hope this helps all of us.
The trader IS the holy grail.
  • #1,031
  • May 15, 2014 5:24pm May 15, 2014 5:24pm
Quoting taru
{quote} I have carried out a preliminary audit of my trades and have drawn a very interesting conclusion. The 3 level zz semafor is a super indicator provided its used correctly. Of course that's true for everything but for this indicator to help a trader, one needs to understand that the semafors it paints look similar but carry different meanings depending on the context. Basically the best use of the 3 level zz semafor indicator is to signal the end of a short term correction and resumption of the main trend. In other words, the best use of a...
Here is an example!!!

Attached Image (click to enlarge)
Click to Enlarge Name: audcadh4.png Size: 60 KB
The trader IS the holy grail.
  • #1,032
  • May 15, 2014 5:36pm May 15, 2014 5:36pm
[quote=taru;7472401]{quote} I have carried out a preliminary audit of my trades and have drawn a very interesting conclusion. The 3 level zz semafor is a super indicator provided its used correctly. Of course that's true for everything but for this indicator to help a trader, one needs to understand that the semafors it paints look similar but carry different meanings depending on the context. Basically the best use of the 3 level zz semafor indicator is to signal the end of a short term correction and resumption of the main trend. In other words, the best use of a semafor signal is in the direction of the main trend, not against it. Based on the above, I'm adding a further filter to my way of validating a setup on the daily charts for the H4 trading method as follows: 1. LONG level 3 signal must be higher than the previous LONG level 3 signal OR SHORT level 3 signal must be lower than the previous SHORT level 3 signal. 2. LONG level 2 signal must be higher than the previous LONG level 2 or 3 signal OR SHORT level 2 signal must be lower than the previous SHORT level 2 or 3 signal. This means that the first opposite level 2 signal occurring after a level 3 signal will be discarded as it won't have anything to be compared with. Hope this helps all

Thanks for all your hard work Taru .... late here so i will look at this in more detail tomorrow. :-)
  • #1,033
  • May 15, 2014 8:47pm May 15, 2014 8:47pm
Taru, I am afraid your answer to my first questions has lead to this next one. What settings are you using on your Semaphore? If you look at my chart you will see that I have used Semaphore True which doesn't repaint. And where I have placed the arrows you will see yellow dots which represent 2 signals. Now quite clearly these did not appear on your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudidaily.png Size: 43 KB
  • #1,034
  • May 15, 2014 11:09pm May 15, 2014 11:09pm
What do you all think about this~
Place limit under it and stop above it?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.png Size: 53 KB
Everyone can find their HolyGrail
  • #1,035
  • Edited 12:45am May 16, 2014 12:26am | Edited 12:45am
Quoting bobha
Taru, I am afraid your answer to my first questions has lead to this next one. What settings are you using on your Semaphore? If you look at my chart you will see that I have used Semaphore True which doesn't repaint. And where I have placed the arrows you will see yellow dots which represent 2 signals. Now quite clearly these did not appear on your chart. {image}
I guess you'll have to accept different results between different indicators. Anyway I've attached a screen shot of my indicator settings dialog box. You may note that I've turned off the level 1 signal by setting its period to 0.

Attached Image
The trader IS the holy grail.
  • #1,036
  • May 16, 2014 2:34am May 16, 2014 2:34am
[quote=taru;7472401]{quote} I have carried out a preliminary audit of my trades and have drawn a very interesting conclusion. The 3 level zz semafor is a super indicator provided its used correctly.

Hi Taru,

First thing, thanks a lot for sharing your way of trading this system. I tried to follow you but had too many loosers and came to the same conclusion. We need something to filter so that we stay on the side of the long term trend. Since very recently, I'm myself using MACD plat on the daily TF. So far, 1 loss and several positive positions. Will report from time to time.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 169 KB


Green pips to all.
  • #1,037
  • May 16, 2014 3:39am May 16, 2014 3:39am
Quoting Fbird
Quoting taru
{quote} I have carried out a preliminary audit of my trades and have drawn a very interesting conclusion. The 3 level zz semafor is a super indicator provided its used correctly. Hi Taru, First thing, thanks a lot for sharing your way of trading this system. I tried to follow you but had too many loosers and came to the same conclusion. We need something to filter so that we stay on the side of the long term trend. Since very recently, I'm myself using MACD plat on the daily TF. So far, 1 loss and several positive positions.
...
You are welcome Fbird and thanks for sharing your method. I'll look forward to updates from you.

Take care.
Tariq
The trader IS the holy grail.
  • #1,038
  • May 17, 2014 2:27am May 17, 2014 2:27am
Hi Guys !
Checkout this website that show other ways of using the Semafor...
http://www.forex-strategies-online.c...&submit=Search
Cheers !
Bob
  • #1,039
  • May 17, 2014 5:25am May 17, 2014 5:25am
Quoting taru
{quote} I guess you'll have to accept different results between different indicators. Anyway I've attached a screen shot of my indicator settings dialog box. You may note that I've turned off the level 1 signal by setting its period to 0. {image}
  • #1,040
  • May 18, 2014 8:57am May 18, 2014 8:57am
How do you all think about this way.
Place Buy limit under GREEN 3 DOT and Buy stop above GREEN 3 DOT.
Place Sell limit above RED 3 DOT and Sell stop under RED 3 DOT.
To this way , we can prevent repaint issue.
Everyone can find their HolyGrail
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