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Trendline Break (The Only System You Need)

  • #381
  • Jan 8, 2015 8:11am Jan 8, 2015 8:11am
Quoting PaulT7
Version 4.85 is performing better than expected. No errors found so far. The main variables to change to get the trendlines you want are: TouchTolApex2 - tolerance of apex 2/wave 2 on the trendline (e.g. 0.005-0.2), default=0.05 EarlyBreakoutBars - number of bars needed at start and end of trendline before price crosses (e.g. 0-10), default=4 FreeTolTL - distance (freedom) wave needs from trendline to be counted as a new apex (e.g. 0-1) I can see it's getting downloaded. Let me know if you spot any anomalies. Next version will have an optional gradient/angle...
Thanks for sharing your work.
You may also want to check out this thread, which is also about trendlines:
http://www.forexfactory.com/showthread.php?t=395428
  • #382
  • Jan 21, 2015 9:29pm Jan 21, 2015 9:29pm
Quoting dragos_
{quote} Thanks for sharing your work. You may also want to check out this thread, which is also about trendlines: http://www.forexfactory.com/showthread.php?t=395428
Thanks Dragos. That's a great method using MACD.

Latest version - has new feature of only displaying breakouts that are confirmed by another breakout within x bars. Set as default in this version. Also default set to draw trendlines on EMA 7-12, and not traditional trend lines. See documentation.
Attached File(s)
File Type: txt 3rd Wave Algorithm 4.87 - description.txt   7 KB | 1,178 downloads
File Type: ex4 3rd Wave Algorithm 4.87.ex4   62 KB | 1,298 downloads
  • #383
  • Mar 10, 2015 10:02am Mar 10, 2015 10:02am
These are all good when the market is trending, but what do you do now, when the markets are ranging, waiting for a USD pull into one direction, and a EUR in the other?
  • #384
  • Mar 21, 2015 4:25am Mar 21, 2015 4:25am
Hh PaulT7

Plz explain how to use this indicator in detail if possible thanks.
  • #385
  • Edited 4:39pm Mar 23, 2015 12:30pm | Edited 4:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 193 KB
TL squeeze on 5min

using PaulT7's cool new indi below --more info on post 378 here http://www.forexfactory.com/showthre...37#post7952237

..looks like a lot of TLs above the Euro/usd ...showing the 4h chart

looking to short a break of 5min TL with a nice 45% angle
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 192 KB
Attached File(s)
File Type: ex4 3rd WaveTL4.88.ex4   64 KB | 1,528 downloads
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  • #386
  • Mar 24, 2015 9:31pm Mar 24, 2015 9:31pm
This version has the setting for a bounce strategy, not breakouts, using trendlines on the EMA for periods 1-12.
Try these additional settings to: RemoveDuplicates=true; MinLengthTL=100; DisplayActiveTLOnly=false;

With DisplayActiveTLOnly=true, you will get false information about past trading opportunities as it removes all data from that screen from past breakouts. So it's like a repaint and looks too good to be true.

MinLengthTL=100; or another value. Current version default=15;

RemoveDuplicates=true; removes the trendline that has two time points in common with another trendline.

Further note: The 3 in a circle is the 3rd bounce and it is drawn on the close of the next bar. So on the screen it is repainting back two bars. The 3 has been drawn in the last screenshot at the close of the red bar.

Good luck with it.
  • #387
  • Mar 25, 2015 3:36pm Mar 25, 2015 3:36pm
TrendLine broken on 1h NZD/usd
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  • #388
  • Edited 6:04pm Mar 25, 2015 3:38pm | Edited 6:04pm
.[/quote] thanks for the clues Paul
mad that I am ...I like to see the old TLs as I think they can resurrect at times

loving the indi it just got me in early on the brealkup of gbp/euro 5 min with some odd confluence I would have never thought to draw...

What about the blue and red arrows ? TL break?

thankx and good pips
Learn THEN Unlearn
  • #389
  • Mar 26, 2015 6:56am Mar 26, 2015 6:56am
Quoting HighFivve
.
thanks for the clues Paul mad that I am ...I like to see the old TLs as I think they can resurrect at times loving the indi it just got me in early on the brealkup of gbp/euro 5 min with some odd confluence I would have never thought to draw... What about the blue and red arrows ? TL break? thankx and good pips[/quote]

The blue & red arrows are when the bar has closed above the trendline (ie a breakout or failed breakout)

I'll keep in mind to add a switch so that you can still see the old trendlines that have had breakouts. I think they would need to be a second trendline so that they can be a different & faint colour, otherwise the screen would be overwhelmed with them, and to be able to distinguish easily between pre & post breakout.

As you said, my hope was that by using the moving average trendlines we would be able to see opportunities that were not immediately obvious using traditional trendlines. It will be interesting to see the results when I can add other moving averages - like triangular and zero-lag EMA. It would also be interesting to add a simple backtest within the indicator to give a quick way of testing which averaging methods give the best breakouts/bounces, for that currency pair. However I'm a slow coder, so that's a while away!
  • #390
  • Mar 26, 2015 3:11pm Mar 26, 2015 3:11pm
so that's a while away![/quote]

no worries I wound say there are plenty as is

Thankx ...be wel l
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  • #391
  • Mar 31, 2015 10:45pm Mar 31, 2015 10:45pm
looks like a break out eur/gbp
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  • #392
  • Edited 1:12am Apr 1, 2015 12:21am | Edited 1:12am
BO retest--- Frankfurt open in 1 hour shorten stops
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  • #393
  • Apr 1, 2015 6:43pm Apr 1, 2015 6:43pm
buying against the low vol audjpy move....in at 9091 stop 17 pips tp 9135
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  • #394
  • Apr 2, 2015 6:38am Apr 2, 2015 6:38am
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  • #395
  • Apr 6, 2015 1:19am Apr 6, 2015 1:19am
this thread was started with a very simple concept and yet so profitable system if applied properly. as usual, this is now polluted by so many aliens and geniuses.
  • #396
  • Apr 7, 2015 2:26pm Apr 7, 2015 2:26pm
Quoting jops
this thread was started with a very simple concept and yet so profitable system if applied properly. as usual, this is now polluted by so many aliens and geniuses.
Lol... Totally agreed with you, people forget beauty of system and simplicity.
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  • #397
  • May 7, 2015 9:03pm May 7, 2015 9:03pm
Here is updated version of the moving average & traditional trendline indicator.
I've added ability to change colours and added option for all trendlines to be rays so they don't stop at breakout (as requested).
Update for redraw bug (on new bar) and speed enhancement coming soon.

Note: some defaults have been changed :
MinLengthTL=30; // Minimum length for trendlines (also affected by MinWavePeriod, e.g. if MinWavePeriod=5, minimum length=5*3waves=15)
RemoveDuplicates=true; // Removes duplicate trendlines from different periods of an indicator (sharing 2 points in time in common)
DisplayActiveTLOnly=false; // true = Show only currently active trendlines (ie no breakouts yet) - NOT GOOD FOR HISTORICAL ANALYSIS
DisplayRayForAllTL=false; // default=false: inactive trendlines stop being drawn when breakout occurs

See above post for full description of adjustable variables.
Attached File(s)
File Type: ex4 3rd Wave Algorithm 4.89.ex4   66 KB | 1,544 downloads
  • #398
  • May 7, 2015 10:41pm May 7, 2015 10:41pm
Quoting PaulT7
Here is updated version of the moving average & traditional trendline indicator. I've added ability to change colours and added option for all trendlines to be rays so they don't stop at breakout (as requested). Update for redraw bug (on new bar) and speed enhancement coming soon. Note: some defaults have been changed : MinLengthTL=30; // Minimum length for trendlines (also affected by MinWavePeriod, e.g. if MinWavePeriod=5, minimum length=5*3waves=15) RemoveDuplicates=true; // Removes duplicate trendlines from different periods of an indicator...
can you give us a MQ4 file? my MT4 doesn't accept .ex4 files anymore.

thanks allot buddy cant wait to test it out
  • #399
  • Jul 1, 2015 3:49am Jul 1, 2015 3:49am
Hi,

I'm a new joiner, searching high and low on logics sample of PA and trendline.

I'm quite loss stumbled on this thread.

Is this a EA or just indicator? Do we add in trendline ourselves?
  • #400
  • Aug 31, 2015 6:25pm Aug 31, 2015 6:25pm
Quoting belekas
{quote} My trading is based on patterns and ranges so TL's play important role. Once you learn to identify i technically significant line, profit is just around the corner.
Sounds like the way i trade too...a combo of trendlines and triangles...especially "mini" triangle b/o's! Im interested in seeing some of your charts with entries.
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