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Trading is as simple as ABCD

  • #7,361
  • Jul 11, 2015 5:22am Jul 11, 2015 5:22am
...just reading up on this..... http://www.earnforex.com/blog/using-...forex-trading/

Quoting devontrader
Good to see me introducing hurst has made a difference to lots....green pips.everyone. lets.see.if.we can fine tune alerts
  • #7,362
  • Jul 11, 2015 5:24am Jul 11, 2015 5:24am
Quoting clivepackham
This post is for Honestknave to explain what I'm after on my FastTMALine indy... As we've always known the first pullback is the best or the 2nd pullback at worst. So I'm looking to enter on the first two CCI signals after a middle channel colour change. I'm then looking for the first two CCI signals and if possible as close to the outer band as possible, but more importantly use the CCI signals for entry.. Like this rangy old EURUSD chart.. {image} What I intend to do is have the top 8 daily ATR pairs open all the time and whenever theres a middle...
just reading this post.....great idea for a ea.or script...im wandering if an option in setting coukd be to input which channel is the highest timeframe?So.maybe the trader see a 5 and 15 channel turning but then looks higher and see maybe the 60 or 240 lining up to so the move could be a bigger move on the bigger channel? So.possible this 550pip diwn move would be spotted.on the 60min channel?
  • #7,363
  • Edited 7:34am Jul 11, 2015 7:20am | Edited 7:34am
Quoting devontrader
{quote} just reading this post.....great idea for a ea.or script...im wandering if an option in setting coukd be to input which channel is the highest timeframe?So.maybe the trader see a 5 and 15 channel turning but then looks higher and see maybe the 60 or 240 lining up to so the move could be a bigger move on the bigger channel? So.possible this 550pip diwn move would be spotted.on the 60min channel?

You're never gonna know something is gonna run 550 pips absolutely impossible to "KNOW" but you could have a look at the hrly upper band touch and work out whether its a LH or a HH touch. Then realising its the first LH touch you take the entry and get it to stick, thats about all you can do at entry is say "Great caught the first LH in an hrly move but you're never gonna know where its gonna end up.


Attached Image (click to enlarge)
Click to Enlarge Name: is it realistic to catch a 550 pip move on hrly.png Size: 103 KB


Even in this example you could of guessed its going to retrace the whole of the previous move up, but You'd never "KNOW"....

Lets assume you decide its going to be a 100% retrace so decide to hold and target that 100% retrace of the original up move. First question, why would you expect a strong daily uptrend to retrace that far????

Secondly what you gonna do half way down when it starts to pull back hard???? Please don't say I'd hold it because if you're 250 pips up you're not gonna let that come back, are you???

And if you say yes I would hold it until the bottom then get ready for another 100 trades where you're be up 200 pips and give them all back to the market because thats what happens 9 times out of 10 . In fact I'd say 99 times out of a 100.. Especially selling a strong daily uptrender..

Then you have to ask the question is it worth holding for a 550 pip run once in a hundred turns down????

What we have to understand in trading is that its a high probability game and we are only interested in high probability trade setups..

These 550 pip runs one way are the "EXCEPTION" that proves the rule....Do you want to be looking for "EXCEPTIONAL" trades that happen once in a hundred moves or do you want to be looking for the moves that happen 70% of the time???

Thats the question Jason and I know where I wanna be...

However that said , I do believe there is a way of catching some really big daily moves if we use these channels to good effect especially on a strong trending daily pair , we just have to think where we are on our road map. If you find a strong trending daily pair lets say up.. Then wait for its hrly channel to start trending up, or for the price to hit the HRLY lower band when that band is horizontal as per my chart below..

Heres my Daily analysis chart that shows me which pairs are trending strongly on the daily charts..(template attached below)

Attached Image (click to enlarge)
Click to Enlarge Name: Daily analysis template.png Size: 52 KB


Now as we have a strong trending daily chart GBPNZD we can expect the hrly turn back up with the daily trend to be the place to enter on our 1 minute chart back with the daily strong trend. Remember it can only go up or down so trying to catch the last time it turns up with the daily trend with our 20 pip 1 minute risk could be awesome..

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDDaily strongest trender.png Size: 78 KB


So we know GBPNZD is a strong trending daily pair from either our daily TTindy or the Daily CSM reading look at my Daily analysis template which looks at the strongest trending daily pairs...

So all we have to do now is wait for the price to come down to our HRLY lower band and look to enter back in the direction of the daily trend, risking 20 pips max and aiming at God knows what Daily target.. Hold on the daily chart.

Heres GBPNZD just after that massive move down, now after such a move down isn't GBPNZD looking cheap to all our Daily traders???? Won't the banks be looking to rejoin the strong trending daily trend from such a cheap place on the chart???

Attached Image (click to enlarge)
Click to Enlarge Name: how to catch a daily run from the 1 minute chart.png Size: 101 KB


Remember of course that the HRLY TMA (red) has probably repainting itself a bit higher since these signals so you'd probably have to take the turn ups on the middle band as price approached the HRLY TMA lower band..

Even on this chart you can see how many times you'd have to enter to get just one to stick... It takes patience and of course theres no gaurantee its gonna work but its about the best chance you've got. The question is have you got the patience to trade it???

Or could someone write an EA that we could just drop onto a setup like this and leave it to get one to stick or two maybe??

Well there you go Jason, thats how its done...I've given you the system now you show me how its done....
Attached File(s)
File Type: tpl Longer term analysis template.tpl   13 KB | 397 downloads
Feel the Fear and do it anyway!!!
  • #7,364
  • Jul 11, 2015 10:00am Jul 11, 2015 10:00am
Clive,
no you don't can't hold for a 550 Pip. You look at the 15m when it touches high you get out....let it retrace down to touch the 15 low again and get back in. You can see where it's going as long as the 15 and the 60 point upwards


Quoting clivepackham
{quote} You're never gonna know something is gonna run 550 pips absolutely impossible to "KNOW" but you could have a look at the hrly upper band touch and work out whether its a LH or a HH touch. Then realising its the first LH touch you take the entry and get it to stick, thats about all you can do at entry is say "Great caught the first LH in an hrly move but you're never gonna know where its gonna end up. {image} Even in this example you could of guessed its going to retrace the whole of the previous move up, but You'd never "KNOW".... Lets assume...
  • #7,365
  • Jul 11, 2015 10:06am Jul 11, 2015 10:06am
I hear ya clive

i look at the 120hma and look at the ttindy
i wander does this give us the nod that price is turning now ! Or has turned and on its way?

With the 2 channeks comming together heading same way this for sure is the now!

I have 2 ideas ...altho at the moment im exploring use of alerts with indys as a early alarm.

but my.2 ideas is

1. ttindy is set to 2 timeframes same as channels eg 5 and 15
The ma instead of 120 is set to same as channels eg 20
Would this give us the strength indication this ttindy is designed for at same time channels are together?

2.. honestknave this could be for you .
What about a new dashboard indy
28pairs listed in input but only those set to true is.shown in the dashbaord.
Timeframes along the top for channels eg 5 15 60 etc
Centreband line changes red to green etc so why not have an arrow or.something displayed in the box on the dashboard.
The trader has selected his pairs he watches....he has selected the channel timeframe eg5 and 15 set to true in inputs.
When channels come together and both are same in dashboard alert is set off by flashing ..audio and message.
The trader if wanted 3 channels to line up simply select 3 channel.timeframes to line up to.get alert.

hopefully.this could be something useful to a trader instead of looking thru many charts.
maybe when alert sounds it auto ooens that chart?

If we got thus coded then we can tweak from there to get it right ...if alerts etc is slightly.out..
  • #7,366
  • Jul 11, 2015 10:24am Jul 11, 2015 10:24am
Getting close to the holy grail of FX with this

Quoting devontrader
I hear ya clive i look at the 120hma and look at the ttindy i wander does this give us the nod that price is turning now ! Or has turned and on its way? With the 2 channeks comming together heading same way this for sure is the now! I have 2 ideas ...altho at the moment im exploring use of alerts with indys as a early alarm. but my.2 ideas is 1. ttindy is set to 2 timeframes same as channels eg 5 and 15 The ma instead of 120 is set to same as channels eg 20 Would this give us the strength indication this ttindy is designed for at same time channels...
  • #7,367
  • Jul 11, 2015 10:31am Jul 11, 2015 10:31am
Quoting harry23
Getting close to the holy grail of FX with this {quote}
lets all work together and help each other
  • #7,368
  • Jul 11, 2015 12:56pm Jul 11, 2015 12:56pm
I decided this is all I possibly need. TMA5 14; TMA15 14, TMA60 8 and slope.....

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 40 KB





Quoting devontrader
{quote} lets all work together and help each other
  • #7,369
  • Jul 11, 2015 1:15pm Jul 11, 2015 1:15pm
Quoting harry23
I decided this is all I possibly need. TMA5 14; TMA15 14, TMA60 8 and slope..... {image} {quote}
harry are you on skype?
i wanna check something out b4 posting template etc here
  • #7,370
  • Jul 11, 2015 8:17pm Jul 11, 2015 8:17pm
Quoting harry23
I decided this is all I possibly need. TMA5 14; TMA15 14, TMA60 8 and slope..... {image} {quote}
Looks pretty good.
  • #7,371
  • Jul 12, 2015 4:00am Jul 12, 2015 4:00am
Anyone not done it yet i recommend going to youtube

look for

trade it simple

Watch all the videos...typically 2mins each

its simple basic.stuff but is very good refresher
  • #7,372
  • Jul 12, 2015 5:48am Jul 12, 2015 5:48am
Quoting harry23
I decided this is all I possibly need. TMA5 14; TMA15 14, TMA60 8 and slope..... {image} {quote}
Nice looking template Harry...

Are you using 5 min channels as your base channel and not the 1 minute channel??

By the way I see you've got the middle band white colour as it changes from down to up?? Is that a deliberate ploy to wait for the white band to clear for a better confirmation that the new trend is better established and has completed the reversal from down to up?? If so what are you setting the "Trend Threshold" input to??

How are you using the slope indicator? Like the CCI for entry when a lower/upper band has been pierced??? Could you post the slope indy you use???

Never used a TMA slope indy so what exactly does it do and how would you suggest using it??

Thanks harry
Feel the Fear and do it anyway!!!
  • #7,373
  • Jul 12, 2015 6:06am Jul 12, 2015 6:06am
The slope indy works like the fasttamline centerband line...so far ive not noticed any adjustments in it.
basically it tells.you.like a macd ....price above 0 is bullish and below is bearish.
You can also see other timeframes too.
for me im looking for cross of 0 as an alert instead of the centerline as it maybe more stable.

i like the idea harry has the white centre line and waits for a turn to.confirm the trend bias.
maybe something worth looking at.
i also suggested possible different periods for channels which i know hary has been looking at.

Ive managed to have an alert coded into the tmaslope indy which needs to be tested
  • #7,374
  • Jul 12, 2015 6:14am Jul 12, 2015 6:14am
Hi Clive,

just wanna say thanks to you. Have seriously been trading your ABCD and can happily call myself a full-time trader now after 1 year and more than 5000 trades.

Thanks
  • #7,375
  • Jul 12, 2015 6:26am Jul 12, 2015 6:26am
Quoting SeaTheStars
Hi Clive, just wanna say thanks to you. Have seriously been trading your ABCD and can happily call myself a full-time trader now after 1 year and more than 5000 trades. Thanks
Thats fantastic news and made my day to think I've helped you towards your goal and I feel I'm getting ever closer to mine everyday..

Thanks for posting, its made my day...
Feel the Fear and do it anyway!!!
  • #7,376
  • Jul 12, 2015 6:43am Jul 12, 2015 6:43am
Quoting SeaTheStars
Hi Clive, just wanna say thanks to you. Have seriously been trading your ABCD and can happily call myself a full-time trader now after 1 year and more than 5000 trades. Thanks
congrats buddy really really good on ya buddylove ya to stick around and help.others too.....post a few charts give a few comments....to help others.im a big believer in giving back into the community what has been given to you .but seriously good job
  • #7,377
  • Jul 12, 2015 6:44am Jul 12, 2015 6:44am
Inserted Video


just as a added confirmation with the hurst channels....
watch this
  • #7,378
  • Jul 12, 2015 6:51am Jul 12, 2015 6:51am
Inserted Video


part 2 how to draw the levels
  • #7,379
  • Jul 12, 2015 7:22am Jul 12, 2015 7:22am
Clive I have the TMA slope normalized.....but still tweaking....it's lagging...so I have to play with the numbers. M5 and M15 are my guides when the M5 pierces the M15 and all three timeframes go in the same direction this is when I go....(up/down). Give me some time to tweak.
I think the traffic light (red/green) idea of Jason would be REALLY great. It would save us some "looking around"

Quoting clivepackham
{quote} Nice looking template Harry... Are you using 5 min channels as your base channel and not the 1 minute channel?? By the way I see you've got the middle band white colour as it changes from down to up?? Is that a deliberate ploy to wait for the white band to clear for a better confirmation that the new trend is better established and has completed the reversal from down to up?? If so what are you setting the "Trend Threshold" input to?? How are you using the slope indicator? Like the CCI for entry when a lower/upper band has been pierced???...
  • #7,380
  • Jul 12, 2015 10:10am Jul 12, 2015 10:10am
Quoting harry23
Clive I have the TMA slope normalized.....but still tweaking....it's lagging...so I have to play with the numbers. M5 and M15 are my guides when the M5 pierces the M15 and all three timeframes go in the same direction this is when I go....(up/down). Give me some time to tweak. I think the traffic light (red/green) idea of Jason would be REALLY great. It would save us some "looking around" {quote}

Yes it is quite hard to identify which charts to watch, this might help as the guy that edited the FastTMAline indy with slope alerts has now modified it further to include selecting just one direction alerts so you can select it to alert just going up or just going down..

Therefore what I'm looking for now is to find a upsloping 5 min or 15 min channel then select the pierce alarm for the lower band piercing plus a bull slope alert so it will alert me when the price hits the 15 min lower band, even better if the HRLY is nearby too. Then I'm waiting for the slope turns up alert ...so confirming that price is moving back with the trend and then I'm looking for my pullback to enter back with the uptrend...

I have been thinking about just having the TTindy set to 5 min strongest trenders so I'm only looking at the 5 min strongest trending channels...but I'm not sure that works too well..

Heres what I'm looking for nowadays so its just a matter of alerting ourselves to these setups, notice both setups are aaround the market opens..

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDM1 5 and 15 min meet and up you go.png Size: 82 KB


Attached Image (click to enlarge)
Click to Enlarge Name: This is what I'm looking for.png Size: 79 KB


The guy thats done this indy for me is looking into some form of TTindy type indy that will identify these strong trending channels then its simply wait for the alerts...
Attached File(s)
File Type: mq4 FastTMALine bull and bear alerts.mq4   12 KB | 461 downloads
Feel the Fear and do it anyway!!!
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