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New profitable System - Sidus

Quoting renasdad
Just had a brainstorm. If we are looking at 30 minute charts, and we get the RSI/50 cross, what if we would wait 1 extra bar close to confirm the cross. Let's say, RSI crosses 50 at 7 AM. At 7:30 AM, RSI is still below 50. Then we open a trade. Just an idea for everyone to consider.
reanasdad.

I have heard that idea bandied about before. Whatever time frame you are trading wait for the close of the next bar before entering a trade.

Trouble is, if you are trading the 4hr or dailies then you are entering at just about that time the winners are getting out, so if you were planning to go long, the earlier longs would be passing the batten to you at just about the high of the present move.

Better still look at the longer time frames without any indicators. Observe price action. Recognise support & resistance. Take note of recent Fib retracements.

Support or Resistance is an area not a set number value !
Attached Image
Take a look at this 4HR chart as my setup shows it.
Attached Image
Hmm looks like GBPUSD may be getting ready for a dive.
Quoting BabeFX
reanasdad.

I have heard that idea bandied about before. Whatever time frame you are trading wait for the close of the next bar before entering a trade.

Trouble is, if you are trading the 4hr or dailies then you are entering at just about that time the winners are getting out, so if you were planning to go long, the earlier longs would be passing the batten to you at just about the high of the present move.

Better still look at the longer time frames without any indicators. Observe price action. Recognise support & resistance. Take note of recent Fib retracements.

Support or Resistance is an area not a set number value !
Babe,
When I talk about waiting for the extra bar close, I am only talking about the 30 minute charts. That would maybe save from whipsaws. And you are right about the longer timeframes with using no indicators at all. I do like using price action for my indicator.
JOHN 3:16
Here is something I was talking to someone about. What if we get the RSI/50 cross and no 5/12 cross on an hr chart just as the bar closes. 5 minutes later after the bar closes, then the 5 crosses the 12. Would that constitue as a valid cross. Or would we wait 55 minutes to get in?
JOHN 3:16
Ren,

I am using the RSI as my "trigger." I only allow 3 bars max after an RSI cross to enter a trade (waiting for the 5/12 cross). If you wait to long you may enter at the end of the move. Although using this method you give up some good moves, the ratio of good moves missed to bad moves taken is about 1:4.

As far as using larger time frames (4H / D) for trend direction, I agree. Price action is the best way to go when your trading the 30 / 1H for in this method. Anything else lags to much; you'll never get an entrance.

mrLogik.
Quoting renasdad
Babe,
When I talk about waiting for the extra bar close, I am only talking about the 30 minute charts. That would maybe save from whipsaws. And you are right about the longer timeframes with using no indicators at all. I do like using price action for my indicator.
renasdad, I apologise.

Yes waiting for a close of the 30min bar after the trigger bar should get us in to the trade a little earlier than waiting for the 60min cross & confirmation.
Howdy All.
Well, I just went through 63 pages of this thread. Wow. Seems like some really good stuff here. I just thought I would share how I have my setup and see if I am on the right track or not. I am using the SidusBago method.

5/12 EMA
21 RSI

Enter long if RSI is above 50 and the 5EMA has crossed to the up side of the 12EMA.

Enter short if RSI is below 50 and the 5EMA has crossed to the down side of the 12EMA.

Sound right?

I will post today what are some of the potential triggers that I see on the pairs for the 1hr chart:
1.) EUR/USD
2.) USD/CAD
3.) USD/CHF
4.) EUR/JPY
5.) GBP/USD
6.) USD/JPY
7.) AUD/USD
8.) EUR/GBP
Oh Yeah. If I missed a signal or someone else sees one, please post it here. I think we will all learn from eachother on what the entry signals are for each of the pairs.

-fxm
sidus, approximately when do you publish v2?
I am expecting it so much, and hope it will reach us in the next days *hope*
I'm getting there ... slowly
These are all on 1hr charts:
USD/CAD: weak buy. crossover but not an RSI confirmation
EUR/JPY: weak buy. crossover happened a while back with RSI confirmation. MTF channel shows a wide band of movement available
EUR/USD: weak sell. crossover occured but RSI does not confirm. current 1hr tick is outside of the channel.


Analysis anyone?

-fxm
Made some nice gains on the GBP/USD using the Sidus method. What is the best exit strategy? I'm currently just using a trailing stop.
I had some nice trades today on the cable... using the 5/12 cross, and exit at the vegas 1H tunnels fib. number...

I exited at 1.8882, because I really didn't think it would go lower than that, there was a vegas 1hr tunnel fib, a regular fib. level AND a pivotpoint... but it did. But today I have got atleast 50 pips
could someone provide the recent rules and indicators for the sidus1 strategy?
I'm getting there ... slowly
Yardie,
I followed today's Philadelphia Fed Report trade with attention on your setup and it showed the worthy exit point properly.

Quoting Yardie
I have attached the template.
Attached File(s)
File Type: zip sidus3_exit_point.zip   22 KB | 705 downloads
Renasdad,

Can you post that mtf channel. I dont see it here... It looks very useful for finding turning points. It seems using that in conjunction with fibs can be awesome! I trade using fib retracements religously. It's scarey how dead on they are. I can actually trade with no other indicators besides fibs... Using the 5/12 cross just triggers when to pull the trigger.
"Skills pay the bill's!"
mtf attached
Attached File(s)
File Type: mq4 mtfchannel.mq4   10 KB | 514 downloads
G'day MrLogik,

Quoting mrlogik
Ren,
I am using the RSI as my "trigger." I only allow 3 bars max after an RSI cross to enter a trade (waiting for the 5/12 cross). If you wait to long you may enter at the end of the move. Although using this method you give up some good moves, the ratio of good moves missed to bad moves taken is about 1:4.
I totally agree with this statement as am using something similar. However, I'd love an EA where i could input # of bars between signals and see what evenatuates using different numbers of bars.


Cheers,
Art...
Hi all,

I downloaded the EMA_CROSS.mpq4 from Freewebs site (attached to the post), and compiled it.

A couple of questions:

1) Since it is appearing in my indicators area of StrategyBuilder, do I drag and drop it on a relevant chart..i.e. GBP/USD, EUR/USD etc.

2) Is it meant to automate the trading i.e. buying and selling lots, and closing out trades.

So if anyone is using this mq4 file, can you please answer my questions.

Thanks so much for your help everyone.

Greg
Attached File(s)
File Type: mq4 EMA_Cross.mq4   5 KB | 394 downloads
Bagovino,

Thank you very much for all of your wonderful contributions! Would you be kind enough to provide more information about your use of fib retracements? Also, if you can provide a link to a description of the technique you use that would be most helpful.
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