20 pips with Livelli indicator | Forex Factory

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20 pips with Livelli indicator

  • #1
  • First Post: Edited Jul 12, 2015 3:41am Jul 9, 2015 5:07am | Edited Jul 12, 2015 3:41am
Simple set up
1 Install the Livelli indicator onto any 1 hour forex chart
2 Change the emas to 7 and 28 as suggested by Davit
3 Place a vertical line on the chart at the start of the European or Uk session
4 If the 7 and 28ema have crossed and sloping up I would place 2 buy stop trades on the blue dots above the vertical
line at the beginning of the session
5 Both trades should have a stop loss of 50 pips with one trade taking profit of 10 pips
while the other trade is moved to break even and a trailing stop is given
6 Ema down trend ema crossed place 2 sell stop trades on the red dots below the opening of the session
The Livelli indicator is fractal and zigzag based and I tend to trade off the closing price of the signal candle
and not the dotted line but that is to the traders discretion
Although I haven't traded the system in the last 2 weeks you can see from the attached charts 200 pips would have been
captured on the Euro/Usd and over 120 pips on the /Usd and that is with a 100 pip loss
I have back tested most pairs were the spreads are low and it seems to average at least 20 pips a day /pair
7 If no trade as triggered by 6.00 pm cancel standing order
8 Be careful of setting any pending orders that are more than half the ATR from the European or UK opening prices
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdsb-h1-etx-capital.png Size: 110 KB
Click to Enlarge Name: gbpjpysb-h1-etx-capital.png Size: 152 KB
Click to Enlarge Name: gbpjpysb-h1-etx-capital-2.png Size: 146 KB
Attached File(s)
File Type: ex4 livelli_sr_now.ex4   10 KB | 3,723 downloads
  • #2
  • Jul 9, 2015 5:37am Jul 9, 2015 5:37am
When the moving averages are flat or crossing multiple times Place sell and buy trades as per example
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadsb-h1-etx-capital-2.png Size: 113 KB
  • #3
  • Jul 9, 2015 5:54am Jul 9, 2015 5:54am
"Is 20 pips a day enough ?"

Of course it could be, depending on your position size, definition of "Enough" & trading skill, but it's not the issue...

My 2c : forward test your method in live demo until you can produce the consistent positive results that will give you the confidence to put on meaningful size. Until you trade meaningful size live, it's just a computer game (hindsight results anyone can produce, although it's a starting point...).

Good luck.
  • #4
  • Jul 9, 2015 6:50am Jul 9, 2015 6:50am
Quoting jtrade
"Is 20 pips a day enough ?" Of course it could be, depending on your position size, definition of "Enough" & trading skill, but it's not the issue... My 2c : forward test your method in live demo until you can produce the consistent positive results that will give you the confidence to put on meaningful size. Until you trade meaningful size live, it's just a computer game (hindsight results anyone can produce, although it's a starting point...). Good luck.
Thanks for your input.
No skill involved
Just put on your trades on early in the morning and monitor them
I have trade this system on a live account
I have back tested this system on numerous pairs
Use a 20 pip trailing stop on the 2nd trade once at break even













.
  • #5
  • Jul 9, 2015 9:08am Jul 9, 2015 9:08am
Nice method, mate. Subscribed.
MAKE SURE you still can TRADE tomorrow
  • #6
  • Jul 10, 2015 1:05am Jul 10, 2015 1:05am
4 trades today with Livelli system
Buy stop Nzd/USD 0.6770
Buy stop Aud/Usd 0.7489 modified by due to round number
Buy stop Usd/Jpy 122.05
Sell stop Usd /Cad 1.2666
two mini lots /pair 1st lot 10 pips take profit 2nd trade to break even after 10 pips and then trailing stop
Stop loss 50 pips on each trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusdsb-h1-etx-capital.png Size: 127 KB
Click to Enlarge Name: audusdsb-h1-etx-capital-2.png Size: 117 KB
Click to Enlarge Name: usdjpysb-h1-etx-capital.png Size: 116 KB
Click to Enlarge Name: usdcadsb-h1-etx-capital.png Size: 119 KB
  • #7
  • Jul 10, 2015 4:59am Jul 10, 2015 4:59am
Do you have an MT5 version of this indicator? if not, can I get the source code so I can make one?
  • #8
  • Jul 10, 2015 6:09am Jul 10, 2015 6:09am
Quoting sethblack
Do you have an MT5 version of this indicator? if not, can I get the source code so I can make one?
Sorry I don't have the source code for this indicator
Had to go out for a couple of hours but the Euro/Usd would have been a nice trade 10 pips profit plus 63 pips which would have a trailing stop
locking in at least 43 pips
Usd/Jpy 10 pips profit 17 pips locked in by trailing stop
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdsb-h1-etx-capital.png Size: 92 KB
  • #9
  • Jul 10, 2015 8:33am Jul 10, 2015 8:33am
Raylin,

Great set up....can it be run effectively on a shorter timeframe of 30m or even 15m?
Also, on the previous snapshot above, the valid signal you point out, is that due to it being a reversal candle on the previous one, as the candle does not close above the buy dotted line? I am assuming it would be a better entry point just above the dots? Please excuse my naivety Raylin.

Thanks
  • #10
  • Jul 10, 2015 9:08am Jul 10, 2015 9:08am
Hi Raylin, Hi everybody,

i'll try to install Livelli on my MT4 folder, but the MT don't see the file.

How could do I do?

Thank you.
  • #11
  • Jul 10, 2015 9:58am Jul 10, 2015 9:58am
Quoting CNTrader1
Raylin, Great set up....can it be run effectively on a shorter timeframe of 30m or even 15m? Also, on the previous snapshot above, the valid signal you point out, is that due to it being a reversal candle on the previous one, as the candle does not close above the buy dotted line? I am assuming it would be a better entry point just above the dots? Please excuse my naivety Raylin. Thanks
Hi toscano
I suggest you go to youtube and get instructions from there
I had difficulty in loading the ex4 until I checked out the procedure on you tube
Sods law have been trading this system for over a month and this is the first time I have lost two trades in
any one day .
Closing all trades now
Aus/usd -100
Usd/Cad -100
Euro/usd +46
Usd/Jpy +74
Loss 80 pips
  • #12
  • Jul 10, 2015 10:00am Jul 10, 2015 10:00am
Thenk you Raylin and have a good week end.

Toscano
  • #13
  • Jul 10, 2015 5:46pm Jul 10, 2015 5:46pm
Quoting raylin
{quote} Hi toscano I suggest you go to youtube
Thanks for sharing this system. I'm really trying it on demo. I need your 2 favors.

1. Please send the link of youtube video so that I can see its live working.
2. Please shares the rules for consolidation or MA repeatedly crossover situation. You've just upload a picture. I'm a little slow in learning.

Thanks again for your sharing.
  • #14
  • Jul 11, 2015 1:54am Jul 11, 2015 1:54am
Hi
I think your 60EMa is too slow for crossover purposes.On H1 you are going to miss significant chunk of the move and once you decide to get in it could be tail end of the move.
You can simply choose faster EMA cross say 7-34 or you can choose to use TDI which is basically RSI34 cross with 7MA
I think you can refine this.

By the way your indicator is basically marking swing tops similar to Semaphore indicator.
regards
In trading, you have to be defensive and aggressive at the same time
  • #15
  • Jul 11, 2015 2:52am Jul 11, 2015 2:52am
Quoting aazishhunain
{quote} Thanks for sharing this system. I'm really trying it on demo. I need your 2 favors. 1. Please send the link of youtube video so that I can see its live working. 2. Please shares the rules for consolidation or MA repeatedly crossover situation. You've just upload a picture. I'm a little slow in learning. Thanks again for your sharing.
Hi Aazishhunain
I used the link below to discover how to install an ex4 file
Inserted Video
  • #16
  • Edited 3:50am Jul 11, 2015 3:15am | Edited 3:50am
Quoting Davit
Hi I think your 60EMa is too slow for crossover purposes.On H1 you are going to miss significant chunk of the move and once you decide to get in it could be tail end of the move. You can simply choose faster EMA cross say 7-34 or you can choose to use TDI which is basically RSI34 cross with 7MA I think you can refine this. By the way your indicator is basically marking swing tops similar to Semaphore indicator. regards
I Davit
These are arbitrary ema 's .
I will look into your suggestions at using a faster ema
If I used 7 ema then I would also use the 28 ema as my logic was to pick up the 4 hourly trend as well
Also in an earlier version I did incorporate the daily trend which would be the 168 ema in your case .

Going over yesterdays trades I see there was a new signal on the Usd/Cad which took place at the same time as the
the Euro/Usd signal
This trade would have been taken and the original signal deleted giving a overall profit of 13 pips instead of -100 pips
Also using a 7 /28 ema would have given a signal on the £ /Usd which would have realised over 100 pips
  • #17
  • Jul 11, 2015 3:21am Jul 11, 2015 3:21am
Quoting CNTrader1
Raylin, Great set up....can it be run effectively on a shorter timeframe of 30m or even 15m? Also, on the previous snapshot above, the valid signal you point out, is that due to it being a reversal candle on the previous one, as the candle does not close above the buy dotted line? I am assuming it would be a better entry point just above the dots? Please excuse my naivety Raylin. Thanks
Hi Cntrader
Yes I did try it on the 15 minute time frame with mixed results
For the more boring traders have a look at the 1 day time frame using a stop loss of 200 pips although not many trades
it could be quite lucrative Also very easy to back test
  • #18
  • Jul 11, 2015 3:47am Jul 11, 2015 3:47am
Multiple crossovers can be quite difficult to trade. If the signals are close ie within 30 pips I will take both trades
with no stop loss and try and recover 30 pips in a retrace or the next day
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpysb-h1-etx-capital-2.png Size: 152 KB
  • #19
  • Jul 11, 2015 5:20am Jul 11, 2015 5:20am
Hi everibody,

I'm looking the various graph with this system.

this is the graph of usoil from 07/01/15.

There were every day sell signals except the last day.

Am I wrong?

Toscano
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 244 KB
Click to Enlarge Name: Screenshot2.png Size: 241 KB
Click to Enlarge Name: Screenshot3.png Size: 240 KB
  • #20
  • Jul 11, 2015 6:22am Jul 11, 2015 6:22am
Looks good Toscano
Although I can just about see the dots for the signal
I have decided to shorten the ema's to 7 ,28 as suggested but no other indicators will be used
Trying to keep the system as simple as possible.
my only dilemma I have at the moment is the how to uterlise a trailing stop on the 2nd trade
I am not at the my terminal throughout the day and would love an AE that would move the stop to break even
on the 2nd trade and then every hour move the stop to lows of the next candles
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