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Multi time frame price action channel (mtf pac)

  • #101
  • Jun 20, 2014 9:31am Jun 20, 2014 9:31am
Quoting Intrepidpips
reappraise my strategy and fine tune it, so at last I have a fairly good idea of what works. #1 the trend. . #2 the PAC. #3 the Filter. #4 the Signal. #5 Trade management. Very simple strategy.
Having gone thru several ups and downs, I've further fine tuned this system more.

The trend remains 1440SMA ie the daily trend, I wait for price to make it's way back to the 1440 SMA,bounce off and continue or change direction.
Price will either continue in one particular direction or bias, come back to base and continue again or get to base and change direction or bias.

The PAC is simply + -15 levels of the 1440SMA (typical price).
I want to see a breakout of the PAC to confirm a trend change, or a bounce off the PAC to suggest a trend continuation.
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-20_15-20-07_PAC.png Size: 82 KB
Let it turn and find your entry.
  • #102
  • Jun 20, 2014 10:13am Jun 20, 2014 10:13am
FILTER AND TRIGGER
For the filter I've come to rely on a simple MA cross Histogram set to 2/1440 close price, some say MA cross systems fail but maybe this will last the test of time
The trigger is the Stochastic set to 14,3,5.
The stochastic is almost redundant as the basic signal is the breakout or bounce-off the PAC, but the Stoch does provide Divergence readings that is so valuable but not infallible.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: _2014-06-20_15-40-07_FILTER.png Size: 88 KB
Click to Enlarge Name: _2014-06-20_16-00-00_TRIGGER.png Size: 97 KB
Let it turn and find your entry.
  • #103
  • Jun 20, 2014 10:45am Jun 20, 2014 10:45am
THE JOURNEY OF PRICE

So we see that any value can be used as our "Pivotal" Moving average just curve fit what you are comfortable with and price will always take-off from it and return to it and turn in the other direction of it. So nothing too special about the 1440 I'm just comfortable with it.
The market participants may also be undecided at times leading to whipsaws and account draw downs like I had on Tuesday.

Price will also leave your pivotal MA and not return to it for hours and days and perhaps weeks, so we need to know where price is likely to rest and continue it's journey so here comes the dilemma.

I at first was relying on Hidden divergence only to find that if fails often especially when a rally or drop is not thru.
Then came fibs and psychological levels and Bollinger bands.

Finally I've settled for BB and psych levels.

Employing 2 BBs SD 1 and SD 2an extreme case will be to add SD 3: then Psych levels.
Let it turn and find your entry.
  • #104
  • Jun 23, 2014 1:27am Jun 23, 2014 1:27am
Quoting Intrepidpips
THE JOURNEY OF PRICE So we see that any value can be used as our "Pivotal" Moving average just curve fit what you are comfortable with and price will always take-off from it and return to it and turn in the other direction of it. So nothing too special about the 1440 I'm just comfortable with it. The market participants may also be undecided at times leading to whipsaws and account draw downs like I had on Tuesday. Price will also leave your pivotal MA and not return to it for hours and days and perhaps weeks, so we need to know where price is likely...
Here's a sample
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-20_16-40-00_JOURNEY.png Size: 115 KB
Let it turn and find your entry.
  • #105
  • Jun 23, 2014 5:08am Jun 23, 2014 5:08am
Quoting Intrepidpips
FILTER AND TRIGGER For the filter I've come to rely on a simple MA cross Histogram set to 2/1440 close price, some say MA cross systems fail but maybe this will last the test of time The trigger is the Stochastic set to 14,3,5. The stochastic is almost redundant as the basic signal is the breakout or bounce-off the PAC, but the Stoch does provide Divergence readings that is so valuable but not infallible. {image} {image}

Correction the settings for the MA Histo is 10/1440

Blue indicates Bullish bias or region and Red Bearish
Let it turn and find your entry.
  • #106
  • Jun 23, 2014 5:56am Jun 23, 2014 5:56am
I missed the FO action and then sort of distracted myself thereafter so I missed the pips rain.
The charts attached show Valid and Invalid signals the valid signals are marked with the check sign, while the invalid signals are marked with the x sign.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: _2014-06-23_11-24-10_DISTRACTION.png Size: 97 KB
Click to Enlarge Name: _2014-06-23_11-25-28_DISTRACTION.png Size: 104 KB
Let it turn and find your entry.
  • #107
  • Jun 24, 2014 3:23am Jun 24, 2014 3:23am
I got in the way again today so much opportunity to profit but I just did not engage the market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: _2014-06-24_09-15-28_NO_EXCUSE.png Size: 103 KB
Click to Enlarge Name: _2014-06-24_09-19-23_NO_EXCUSE.png Size: 105 KB
Let it turn and find your entry.
  • #108
  • Jun 24, 2014 5:32am Jun 24, 2014 5:32am
Intrepid - have you considered a simple filter - 200 ema for example. Only longs above, only shorts below.
  • #109
  • Jun 24, 2014 8:12am Jun 24, 2014 8:12am
Quoting handy148
Intrepid - have you considered a simple filter - 200 ema for example. Only longs above, only shorts below.
Thanks for posting Handy, the filter employed is the Moving Average Cross-over Histogram, the settings chosen are period 10 and period 1440. period 1440 is chosen as that is the number of 1 minute bars in 1 day whereas I do not know how 200 MA became the darling of so many traders.Dividing 1440 in equal parts, we have, 1440/2 = 720.1440/3 = 4801440/4 =3601440/5 =288The list goes on. In the end you want a MA that you are comfortable with the swings and retracements and for me 1440 does so well.Period 10 is also chosen because it represents the average price in M5 i.e 2*5 =10I must add that I've tried all sorts of combinations but the 10/1440 suits me just fine at least for now.Please keep feeding me with your observations and suggestions they are appreciated.
Let it turn and find your entry.
  • #110
  • Jun 25, 2014 2:10am Jun 25, 2014 2:10am
2 trades post FO and I will be waiting till after the CBI Realised Sales figure to see if I have a set-up
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-25_08-09-27_FIGHT_BACK.png Size: 101 KB
Let it turn and find your entry.
  • #111
  • Jun 25, 2014 2:49am Jun 25, 2014 2:49am
Divergence rocks but I've learnt 2 things:
1st what level would my entry be at?, if the entry is not at any of my preferred levels, I'd pass on it;
Then what is the risk involved?, if the last swing high or low is too high or low for my pre-set SL I'd pass on it as well
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-25_08-45-15_DIVERGENCE.png Size: 105 KB
Let it turn and find your entry.
  • #112
  • Jun 25, 2014 3:09am Jun 25, 2014 3:09am
Hi IP

Nice trading for so far for today.

Thread/Journal is looking good

GL and all the best

Rooi
We miss 100% of the shots we don't take
  • #113
  • Jun 25, 2014 3:13am Jun 25, 2014 3:13am
Quoting Rooi
Hi IP Nice trading for so far for today. Thread/Journal is looking good GL and all the best Rooi
Thanks Rooi you know we are in this thing together
Let it turn and find your entry.
  • #114
  • Jun 25, 2014 3:44am Jun 25, 2014 3:44am
TEMPLATE UPDATE

Here is the new template and other indicators.
Attached File(s)
File Type: rar 1440.rar   44 KB | 592 downloads
Let it turn and find your entry.
  • #115
  • Jun 25, 2014 9:07am Jun 25, 2014 9:07am
So much left on the table cos I was not available to take them.
Finally US news came out -ve but could not milk that "Cash Cow", then I second guessed a good opportunity to ride the second wave but got in on the weaker third.
Have to eliminate those instances of second guessing and fully engage the market for consistent results.
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-25_15-00-25_NEWS.png Size: 110 KB
Let it turn and find your entry.
  • #116
  • Jun 25, 2014 2:06pm Jun 25, 2014 2:06pm
Quoting Intrepidpips
Divergence rocks but I've learnt 2 things: 1st what level would my entry be at?, if the entry is not at any of my preferred levels, I'd pass on it; Then what is the risk involved?, if the last swing high or low is too high or low for my pre-set SL I'd pass on it as well {image}
A great example in fact I am tempted to take on the Beast (GBPJPY) again
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-25_20-05-08_DIVERGENCE.png Size: 106 KB
Let it turn and find your entry.
  • #117
  • Jun 26, 2014 3:18am Jun 26, 2014 3:18am
2 trades both -ve results but both according to the rules.
The 3rd signal was missed cos I lost internet connection and before the IT guy could reset the connection my SL had been hit and an entry signal missed.
The divergence entry was not at my preferred entry so I let it pass and I was too weary to fight at the 4th signal because the Stoch was showing signs of exhaustion.

The 3rd signal, the divergence and the 4th signal would have recovered my losses and taken me a step higher.

I live to fight another day.
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-26_09-15-15_TAKE_EVERY_SIGNAL.png Size: 91 KB
Let it turn and find your entry.
  • #118
  • Jun 27, 2014 2:09am Jun 27, 2014 2:09am
Nice trading today - Keep it slow and steady

Its not the fastest or most aggressive trader that always makes the most.It the the trader that can stay in the game ans slowly build his capital and confidence. Once you have made a 100% over 12 months than you can double your risk in the following year and you will be trading the brokers money.

Slow and steady wins the race

Hope you have a great weekend

All the best

Rooi
We miss 100% of the shots we don't take
  • #119
  • Jun 27, 2014 3:38am Jun 27, 2014 3:38am
Quoting Rooi
Nice trading today - Keep it slow and steady Its not the fastest or most aggressive trader that always makes the most.It the the trader that can stay in the game ans slowly build his capital and confidence. Once you have made a 100% over 12 months than you can double your risk in the following year and you will be trading the brokers money. Slow and steady wins the race Hope you have a great weekend All the best Rooi
Thanks Rooi.

When I finally get to actually take ALL my signals no matter what then I know I have arrived.
Let it turn and find your entry.
  • #120
  • Jun 27, 2014 3:48am Jun 27, 2014 3:48am
I was gonna abandon the 1440 for 480 or 360 but reviewing my set-ups I see that 1440 is not broke so I aint gonna try ta fix it.
took a trade before FO was eager to get in on what seemed to be a pre-FO launch and price sort of just ranged, enough opportunity to recover from yesterday's dd but I'm sure I will steadily recover and get there.
I'm sure the success to trading any system is to keep taking every valid signal the system gives no matter what.
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-06-27_09-35515_TAKE_EVERY_SIGNAL.png Size: 118 KB
Let it turn and find your entry.
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