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20 pips with Livelli indicator

  • #141
  • Jul 21, 2015 10:24pm Jul 21, 2015 10:24pm
Hello, Friends!
Thanks for hot news!
Raylin, could you explain these two phrases you wrote?

1- "I am very wary of trading when the half the average true range is met"

and

2- "8 Be careful of setting any pending orders that are more than half the ATR from the European or UK opening prices"
Another question is if I need to change the entries of the zig zags when aplying the indicator to the chart.

Sorry about my greeness.

Thanks.

Maitrader
  • #142
  • Jul 22, 2015 1:05am Jul 22, 2015 1:05am
Hi everibody,

at the moment in 1h charts, for me, there is no trade. Only eurjpy but the livelli are too far (123.60 and 124.46).

I read your ideas later.

Leonardo
  • #143
  • Jul 22, 2015 1:37am Jul 22, 2015 1:37am
Quoting bobbyspider
when do the dotted lines of the livelli indicator paint permanently to the chart? thanks
Immediately a fractal is formed in the right area it paints 3 dots
I also depends on the Zig zag indicator to some extent
If you have any doubts just go down to the 1 minute chart and watch the indicators form
Come on guys think for your self I don't have to spoon feed you
Its not rocket science
When I started to post the chart below 3 red dots appeared on the one minute chart
2nd chart shows 3 blue dot appearing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdsb-m1-etx-capital.png Size: 116 KB
Click to Enlarge Name: eurusdsb-m1-etx-capital-2.png Size: 118 KB
  • #144
  • Jul 22, 2015 3:24am Jul 22, 2015 3:24am
Quoting maitrader
Hello, Friends! Thanks for hot news! Raylin, could you explain these two phrases you wrote? 1- "I am very wary of trading when the half the average true range is met" and 2- "8 Be careful of setting any pending orders that are more than half the ATR from the European or UK opening prices" Another question is if I need to change the entries of the zig zags when aplying the indicator to the chart. Sorry about my greeness. Thanks. Maitrader
Ok my friend
The ATR is the average true range for the day Say if the average true range over the last 10 days is 100 and the
indicator gave a signal of more than 50 pips from the start of day ie European opening I would not take the trade
I am not sure of the 2nd question about the indicator
All I can say is that the Livelli indicator is developed from the fractals and the zig zag indicator although not every fractal
will develop row of dots
As I said in previous post plot a 1 minute chart with the Livelli ,fractal and the zig zag indicators and you can watch the dots
being developed Once 3 dots have been plotted then those are set
  • #145
  • Jul 23, 2015 2:38am Jul 23, 2015 2:38am
up up and away
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdsb-m15-etx-capital.png Size: 165 KB
  • #146
  • Jul 23, 2015 2:44am Jul 23, 2015 2:44am
Quoting raylin
up up and away {image}
Great trade Raylin.

I open 2 positions on usdjpy 1h chart and now are closed with 25 pips gain (10+15)

Thanks.

P.s.: I put trailing on the second position and then price had a retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 218 KB
  • #147
  • Jul 23, 2015 3:13am Jul 23, 2015 3:13am
Also took eur/jpy long for 20+10 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpysb-m15-etx-capital-2.png Size: 133 KB
  • #148
  • Jul 23, 2015 3:17pm Jul 23, 2015 3:17pm
Hello,
Just discovered this thread, and been reading through all the posts.
Could I just clarify please, with the 15m system, is it 50 SL, 10 B/E, and TP 20 on trade one trade, and 20 trailing sl on trade 2
Thanks.
JRob
  • #149
  • Jul 24, 2015 1:00am Jul 24, 2015 1:00am
Hi guys,

this is the order that i put this morning.

USDCAD buy order 1.3037

Good trading.

Leonardo
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 214 KB
  • #150
  • Jul 24, 2015 1:07am Jul 24, 2015 1:07am
Hi,

another order

EURJPY H1 sell 135,86
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 215 KB
  • #151
  • Jul 24, 2015 2:18am Jul 24, 2015 2:18am
Quoting JRob
Hello, Just discovered this thread, and been reading through all the posts. Could I just clarify please, with the 15m system, is it 50 SL, 10 B/E, and TP 20 on trade one trade, and 20 trailing sl on trade 2 Thanks. JRob
Yes both trades to break even after 10 pips Profit 1st trade 20 pips 2nd trade 20 pips trailing stop
  • #152
  • Jul 24, 2015 3:26am Jul 24, 2015 3:26am
Thanks for clarifying that Raylin.
Like the look of the 15m charts. Been backtesting on EU. Trying to decide whether the 224 ema helps or not. Seems pretty good just waiting for 14 and 56 to be in correct order.
Will have a look on a few other pairs and see.
Thanks.
JRob
  • #153
  • Jul 24, 2015 4:54am Jul 24, 2015 4:54am
Quoting JRob
Thanks for clarifying that Raylin. Like the look of the 15m charts. Been backtesting on EU. Trying to decide whether the 224 ema helps or not. Seems pretty good just waiting for 14 and 56 to be in correct order. Will have a look on a few other pairs and see. Thanks. JRob
Hi Rob yes I like to go with the 15 min 1 hour and 4 hour trend although you could just wait for the cross of the 14/ 56 ema

I was going to take the GDP/Jpy this morning at 192.10 but was nearly at 192.00 so going into round number
Also GDP/USD going into round number as well
Cant understand why I didnt take EURO/USD would have been 32 pips profit

Of course its always IF Like the old Lancastrian saying " IF my Auntie had balls she be my Uncle"
  • #154
  • Jul 24, 2015 5:30am Jul 24, 2015 5:30am
Hi Raylin,
Not looked at the other pairs yet, but the 224 ema kept me out of the EU short. Still weighing up whether to just use the 14/56.
Will have to look around and find a trade manager that will move sl to BE at 10, and manage trailing sl etc.
Yes, 'If only'. Always easier with hindsight.
  • #155
  • Edited 6:51am Jul 24, 2015 6:35am | Edited 6:51am
If it can help, the livelly indicator source code is here.

Attached File(s)
File Type: mq4 livelli_sr_now.mq4   5 KB | 665 downloads

Simplicity is the Ultimate Sophistication.
  • #156
  • Jul 24, 2015 10:01am Jul 24, 2015 10:01am
Hi Everybody and thank you Raylin for bringing this strategy to us. Looks like a good strategy! I want to try this.

I have read the whole thread. I have some questions about the entry of the trade that are not clear to me....

1. I would like to place a pending order when the close of the candle hit the points or went through it and not when the wick hits the point. I believe that you Raylin enter on the close of the candle after the wick has touched the point? But this could, as I see it, very well be a false signal! Or did I understood you wrong? See also attachment.

2. How do you place a pending order on the close of a candle in MT4 as far as I know this is not standard in MT4?

Already thanks for your answer!
Attached Image (click to enlarge)
Click to Enlarge Name: Entry_signal_Livelli.png Size: 26 KB
  • #157
  • Jul 24, 2015 11:34am Jul 24, 2015 11:34am
Quoting Dutchpips
Hi Everybody and thank you Raylin for bringing this strategy to us. Looks like a good strategy! I want to try this. I have read the whole thread. I have some questions about the entry of the trade that are not clear to me.... 1. I would like to place a pending order when the close of the candle hit the points or went through it and not when the wick hits the point. I believe that you Raylin enter on the close of the candle after the wick has touched the point? But this could, as I see it, very well be a false signal! Or did I understood you wrong?...
Hi Dutchpips
This is entirely up to you whether you go for the high or low of the candle or the close
I have back tested the system and find going for the close of the candle gives more success although sometimes because you are using sell and buy stops
orders the trade will not be taken ie wrong side of the trade so discretion is required
I have been back testing the system on the FTSE100 which also looks promising over the last 3 months
  • #158
  • Jul 24, 2015 11:40am Jul 24, 2015 11:40am
Quoting broketrader
If it can help, the livelly indicator source code is here. {file}
Thanks Broker trade
I know a lot of people struggle with loading the livelli.exe so mq4 should be easy to install into Metatrader
  • #159
  • Jul 24, 2015 11:55am Jul 24, 2015 11:55am
This looks like a good candidate to create an EA if someone can do it.
  • #160
  • Jul 24, 2015 1:56pm Jul 24, 2015 1:56pm
This indicator is made from fractals and repeats its work. The author does not come up with anything new. The indicator that that does not give, and nothing helps. If it really works give the password invest your real account.
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