scalping system - m1 is possible

The MQL4 compiler in MT4 Builds 600 on word reserve the name "char", so char cannot be used by the coder. "char" was not a reserved name in earlier versions of MQL4. So, the MTF Stochastic provided in Post 1 will not compile under the current MQL4 compiler. The source code provided in post 1 must be modified to replace the variable named "char" with any valid variable name. I simply chose to replace all instances of the variable named "char" with "Char", a completely different and valid name as far as the compiler is concerned. There were, perhaps, 6 instances of char in a character processing routine toward the end of the code. Am not at my normal computer at the moment, so I cannot be more specific than that. Other than this simple change, no other changes were made.

One of those moments that a no wussy close looks good on...

Only unfortunate thing is that it still wouldn't cover losses on the last 24 hours...

Crazy ass whipsaw week...
Weeks like this, trend on a fast frame really means, fuck all...

2 versions will run next week...
1. with a modified wussy trigger and the hard stops...
2. Burn the fucking trend, trigger only and force a profit with hard stops!

Both will run on incremental adds.

Given the NFP week of next, I'd be willing to bet that we can shake something that resembles a decent profit on this bitch, one way or another.

Thanks. I was interested because I have a few older indicators that error out due to char. If it is as simple as changing it to Char, then it is great information.

Aight...

Because I am a visual guy, I have changed a little by way of perspective on this trader, to see if I could make it, make sense.

I have been using an M1 trigger:
When stochs are oversold, and M1 Close is above the Upper MA, buy.
When stochs are overbought, and M1 Close is below Lower MA, sell.

All of this, whilst trying to define a trend.

So, these trippy motherfuckers have been waiting too long to buy and waiting too long to sell, all based on watching for a continuation of trend...in a lot of cases, this will actually work out well, with exception of too many triggers in too tight of space, making us max out the lot sizes and close on a relatively shallow stop loss...relatively for a Martingale, anyways...

So...what to do?

I superimposed M5 candles over the chart, so I can see when the M5 candles are closing above/below the MA, and whadda ya know?
It actually shows a lot more by way of what I would call a true signal than what the M1 was trading.

I also added in the MTF stochs for a comparison...and it looks to show a little better by way of overbought and oversold areas for possible triggering than just the M1 does.

Soooooooooooooooooooooo...

If we are throwing the trend out anyways...
and already using an M5 stochs...
Why not use an M5 Candle applied to an M1 MA channel for triggering?

Interesting?
Arrows mark the M5 closes where buys and sells would be...as well as where exits would be on a counter signal.

thankx for sharing Magix

i love how you have a solid grasp on trading the fast TFs

Q. how is it that you "superimpose" a 5m candle on a 1m chart

good pips

Easier to share than is to explain on this one...download the attached indicator and template along with the stochs indicator posted HERE.

Put LargeTimeFrame.ex4 and the stochs indicator into your indicators folder.
Put 5c.tpl into your templates folder.

Restart Meta4.

Open M1 chart, click on 5c.tpl and SHAZAM!

Now, this really is not a lot different than just using a 2-3 SMA channel on the M5, as we are just using the 12SMA currently...12/5=2.4, but there is some difference...will that difference mean anything in the long run??

Dunno??

But, I will code so that M5 Stochs 0 has to be overbought/oversold and will write as an M5 close above/below the SMA on the M1...really, not that difficult and I can still use a Trend with this based on the M1 movements as well...

Might go to a little longer period than is current, extend it into the Daily or daily to weekly and triggering the M5 close on the M1 SMAs...

Because, really...why not?

It's a little more interesting than just another Moving Average Cross, or HA EA...isn't it?

[quote=Magix; It's a little more interesting than just another Moving Average Cross, or HA EA...isn't it? {file}[/quote]

you rock ..thankx brother

2 Versions to start the week...

1. Agressive: M5 candle trigger applied to the previous traders, no trend dictated, Incremental adds, hard stop loss, 13 pip trail stop, Min 5, Trigger on Grid.
HERE

2. Passive: H4 stochs, M1 trigger, hard stop loss, single lots only on adds, No stoploss, No trail, Min 20, Trigger on Grid.
HERE

M5 should trade rather aggressively, in that only the first trigger will depend on the Stochs OB and OS lines, each additional M5 close above/below the Upper/Lower SMA with a minimum step of 5 pips. With the trailing stop being able to close some or all trades on whipsaws and a hard trigger for dynamic profit ranges, should allow this bitch to grind!

H4, will be a lot slower out of the chute and will take a lot longer for prosperity, given the length of time involved...but with a single lot only on adds and as many levels as the account can handle on the given pairs, it should minimize the overall risk and balance out with the eventual rewards...Typical pairs in backtests showed an average of 1200 pip net closes per pair, per month...I don't actually believe in backtests, but that was a seemingly consistent number across the board on pairs traded.

Will see how the M5 does over the week...See how the H4 does over the Month and make changes as required.

Will be nice to see a Month with a fresh Monthly open.

Version 3 for the week added.

Very similar to what was running last week, but will rely on M1 close in relation to the Hourly Open.

Longs - M5 stochs oversold, close above upper SMA and above the hourly open.
Shorts - M5 stochs overbought, close below lower SMA and below the hourly open.

HERE

Should look a little like this:

CCI histogram set to 14, even though I am currently using the 12 SMA channel...works out to be pretty close to the same thing...
Example shows that M5 Stochs Overbought, Close below lower (CCI below zero), short until a M5 stochs is oversold and a close above the upper (CCI above zero)...

Bagging a few at current, but overall, net gains are almost doubled the floating losses...

Nice open on the M5 trigger for the week.

Nice balance on the H4...

Slow n steady....

The H4 is definitely turning out to be the diamond in the rough...

Very minimal draw, not huge gains, but a decent load...

On an incremental add...might look a lot nicer, but given the size of the account and pairs in trade, this is definitely looking scale-able...

Slow n steady, wins the race?

M5 triggering, with no filter took a bit of a beating with the AUD press, but has filled back some of the losses on GBPAUD...struggling at current and due to only an incremental add and trail stop, a continuation of this type action through the rest of the month could look really nice.

Oh, there will be some rocky roads and much testing to be done, but there is definitely some potential here.

H4 version, full download.

HERE.

Happy testing!

Finished at this thread. Best of luck to y'all!

I am new to coding --- so I could not help in your creation -- thanks for the time, your the man!

Working on trade logic by way of code can definitely accelerate your learning in market.

It helps build an idea of solidifying rules for trend definition, triggering logic, market range, indicators.....................

Once you gain a little footing on this, you begin to see the market through a whole new perspective.

Stick with it, it's both educational and rewarding!

Hi

On other form i created user but getting msg that not have authority of that thread.

So please can you upload here this 4 hr system

Thanks

No.

A BETTER SCALP -

Can you beat this? Just use RSI(10) (30%) on M1 USDJPY and only buy.

This is using 1k volume with only 1000 capital.
You could use 10k and just make your capital double in a month.

I really don't know why everyone isn't doing this