MT4 Trading the GAP With Excel | Page 44 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MT4 to Excel through Excel RTD (Finally!) 612 replies

Trading using Excel and MT4? 29 replies

MT4 Trading without GAP and without Excel 669 replies

How to copy profiles in MT4? How to use Excel with MT4? 7 replies

Integration between excel and MT4 prices 3 replies

Attachments: MT4 Trading the GAP With Excel
Exit Attachments

MT4 Trading the GAP With Excel

  • #861
  • Dec 11, 2015 6:09am Dec 11, 2015 6:09am
EJ opening price today was 133,20 , the level you entered was 60+pips from opening price
just a few mins ago if you were to sell at BR0.00 you will be able to exit with 4+ pips

Quoting LFN
{quote} Well that shouldnt be a problem? We are only at the beginning of London open.
  • #862
  • Dec 11, 2015 6:10am Dec 11, 2015 6:10am
To continue because there are many pairs to choose from:
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h11m56s_090_.png Size: 191 KB

Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h13m03s_092_GBPNZD-M1.png Size: 49 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h13m23s_093_GBPUSD-M1.png Size: 43 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h16m02s_094_GBPCHF-M1.png Size: 48 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h21m49s_095_GBPJPY-M1.png Size: 48 KB

GBPAUD was not a good choice!
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h22m48s_096_GBPAUD-M1.png Size: 47 KB

A nice rebound on GER30 with a +53 Pip.
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_19h37m39s_100_.png Size: 189 KB

Pretty good so far!
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #863
  • Dec 11, 2015 6:10am Dec 11, 2015 6:10am
Quoting JibalaPasan
{quote} I did not get a signal on that level! Sad to say, you just bought the top @133.785 {image}
Did your dashboard warn you about the fib level above? Or what other filter are you using if you did not get any signal?
  • #864
  • Dec 11, 2015 6:15am Dec 11, 2015 6:15am
Quoting rabbit68
EJ opening price today was 133,20 , the level you entered was 60+pips from opening price just a few mins ago if you were to sell at BR0.00 you will be able to exit with 4+ pips {quote}
edit1: because it is making a new low. when the price goes from 133.77 all the way to 133.20 the RS is within 1-5
, only when it comes close to 133.3 you will get a BR of <15% , and even with drop of 70 pips the strength meter shows Euro6 JPY7.. so when it makes a new low low then only you will get your "signal" to sell. My question will be why dont we look to catch the upward move of 60 pips and downward of of 60 pips instead of catching the 'last few pips' hoping to make a new high or new low, yes it is a high probability trade when you are trading into strength vs. weakness. but the meters don't catch the move early. and as you experience you got caught at the top. and you may get caught at the bottom too
  • #865
  • Dec 11, 2015 6:19am Dec 11, 2015 6:19am
Quoting rabbit68
EJ opening price today was 133,20 , the level you entered was 60+pips from opening price just a few mins ago if you were to sell at BR0.00 you will be able to exit with 4+ pips {quote}

I dont sell when price is above DO.
  • #866
  • Dec 11, 2015 6:20am Dec 11, 2015 6:20am
exactly my point, whyd not buy when price is +15 from DO or sell -15 from DO, why wait until +60 from DO

Quoting LFN
{quote} I dont sell when price is above DO.
edit2: BR0.00 was when price = daily open/low.
edit3: so if you sold at 133.19 DO -1pip you will be able to exit at 133 14 making the minimum 4 pip gain from this strategy
  • #867
  • Dec 11, 2015 6:21am Dec 11, 2015 6:21am
Quoting LFN
{quote} Did your dashboard warn you about the fib level above? Or what other filter are you using if you did not get any signal?
Not Fibo but S/R!
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.11_20h16m53s_103_.png Size: 22 KB
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #868
  • Dec 11, 2015 6:29am Dec 11, 2015 6:29am
Now at -20 DO, RS is -8 - 9, but on CSM E is still +5 JPY +8 one moving down the other moving up. by the time E strength in red zone -3 -2 -1, it will already by -30 -40 -50 pips from DO. then you sell, you make the perfect trade, but at the highest point and sell at the lowest point!!
  • #869
  • Dec 11, 2015 6:45am Dec 11, 2015 6:45am
Hi JibalaPasan,

I have some questions that have been bothering me and given your experience I'd appreciate if you could shed some light on the following questions as they would help me in making better setting options.

1. In your trading setup, do you enable your dashboard to check all of the following:

  1. a. BidRatio
  2. b. Relative Strength
  3. c. Buy/Sell Ratio
  4. d. GAP

Is it "the more the better" or "the less the better" and how do one find an equilibrium based on scalping for 5-8pips per trade.

2. As a scalper, what time duration do you wait for after a trade closure before you take another trade on that same currency pair.

3. About BidRatio, some have said that enabling it gets you too late into the trade, from your extensive experience, can you throw some light on this.

Thanks very much for your anticipated favourable response.

  • #870
  • Dec 11, 2015 6:46am Dec 11, 2015 6:46am
Quoting rabbit68
exactly my point, whyd not buy when price is +15 from DO or sell -15 from DO, why wait until +60 from DO {quote} edit2: BR0.00 was when price = daily open/low. edit3: so if you sold at 133.19 DO -1pip you will be able to exit at 133 14 making the minimum 4 pip gain from this strategy

I would be happy to do that. But I got no signal when price was there.
  • #871
  • Dec 11, 2015 6:49am Dec 11, 2015 6:49am
BR 0% and 99% +1 hour from daily open and + 8 hour from daily open can mean very different things depending on how the market has already moved throughout the day. It doesn't means High/Low BR is getting in late. you need to use the values derived from the formula into context. see the excel spreadsheet. you will understand what i am trying to say.
edit: small edit for clarification, final edit, moving on ,cheers everyone.
  • #872
  • Dec 11, 2015 7:03am Dec 11, 2015 7:03am
Quoting JibalaPasan
{quote} I don't use a chart, hence I don't use RSI! It was only to illustrate (and for our analysis) how it could be used as a filter.

Okay, I got the impression that you are using it when asked in the dashboard thread. My first language is not English so I probably misunderstood you.


Attached Image (click to enlarge)
Click to Enlarge Name: Skärmklipp.PNG Size: 18 KB
  • #873
  • Dec 11, 2015 7:06am Dec 11, 2015 7:06am
Quoting JibalaPasan
To continue because there are many pairs to choose from: {image} {image} {image} {image} {image} {image} GBPAUD was not a good choice! {image} A nice rebound on GER30 with a +53 Pip. {image} Pretty good so far!
I think that for your strategy DE30 , Tickbar chart will be better ...

Attached Image (click to enlarge)
Click to Enlarge Name: tbc.png Size: 29 KB
if you're doing we all have results with all
  • #874
  • Dec 11, 2015 7:09am Dec 11, 2015 7:09am
Quoting LFN
{quote} Okay, I got the impression that you are using it when asked in the dashboard thread. My first language is not English so I probably misunderstood you. {image}
Hi LFN,

Thank you for getting this quote. I thought my mind was running wild because I know that JibalaPasan has made this statement and in fact it was a part of my earlier message which I deleted after I saw her response to you. Below was my earlier Point 2:

2. About the RSI, you once said that this is the basis of every other selection made in point 1 above, can you confirm that you always check for the value of RSI2 before entering any trade.

One thing said today and another said tomorrow brings in a lot of confusion and that was why I really put forth my earlier message to her today.

@JibalaPasan
We really appreciate your efforts and contribution on the FF community as a whole and this thread in particular BUT can we get some REAL clarifications on the issues I raised earlier and especially on the RSI given your earlier comments and recommendations about it usage.
Thanks.
  • #875
  • Dec 11, 2015 7:55am Dec 11, 2015 7:55am
Quoting pipdripper
Hi JibalaPasan, I have some questions that have been bothering me and given your experience I'd appreciate if you could shed some light on the following questions as they would help me in making better setting options. 1. In your trading setup, do you enable your dashboard to check all of the following: a. BidRatio b. Relative Strength c. Buy/Sell Ratio d. GAP Is it "the more the better" or "the less the better" and how do one find an equilibrium based on scalping for 5-8pips per trade. 2. As a scalper, what time duration do you wait for after a...
We have to divide in manual and fully automated trading. Even on the "big" db I am always free to add trades manually, as they are limited to one trade / hour.

1.) Answered many times by adding order details (Main Trend UP, BR: 0.99 (+/- 0.77), RS: 8.99 (+/- 7.11), BS: 4.50 (+/- 4.89), BS GAP: 4.58 (+/- 1.19))

2.) One trade per hour in fully automated mode

3.) BR is what we have on the top for all other calculations. It means, if all other values for the respective filters are not accordingly, you may choose what ever you want, but you'll fail! I've stated in an early post in DB thread.

Example: BR @0.75 (75%) = RS 7.01

If now you choose a different value in the settings i.e. 7.50 (which is equivalent to a BR 78%) then of course your entries will be late always! Opposite will happen the same, if you choose a smaller RS. It will not take effect as long as BR is still set to 75%!
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #876
  • Dec 11, 2015 8:07am Dec 11, 2015 8:07am
Quoting pipdripper
{quote} Hi LFN, Thank you for getting this quote. I thought my mind was running wild because I know that JibalaPasan has made this statement and in fact it was a part of my earlier message which I deleted after I saw her response to you. Below was my earlier Point 2: 2. About the RSI, you once said that this is the basis of every other selection made in point 1 above, can you confirm that you always check for the value of RSI2 before entering any trade. One thing said today and another said tomorrow brings in a lot of confusion and that was why...
The screen shown above by LFN speaks for itself. The RSI[2] was the source for all our filters. While having it on chart all other values have been recorded for later analyses. Maybe you will remember screens like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.11.09_15h26m54s_010_.png Size: 116 KB
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #877
  • Dec 11, 2015 8:10am Dec 11, 2015 8:10am
Quoting jarfx05
{quote} I think that for your strategy DE30 , Tickbar chart will be better ... {image}
Looks good, maybe I'll give it a try. Until today couldn't find a good tick generator, still searching.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #878
  • Dec 11, 2015 8:19am Dec 11, 2015 8:19am
Quoting JibalaPasan
{quote} Looks good, maybe I'll give it a try. Until today couldn't find a good tick generator, still searching.
ovo.cz
if you're doing we all have results with all
  • #879
  • Dec 11, 2015 10:35am Dec 11, 2015 10:35am
The day / week could not finish any better!
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2015.12.12_00h28m19s_117_.png Size: 188 KB

+165 Pip

Wish you all a peaceful weekend.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #880
  • Dec 11, 2015 10:54am Dec 11, 2015 10:54am
Quoting JibalaPasan
{quote} The screen shown above by LFN speaks for itself. The RSI[2] was the source for all our filters. While having it on chart all other values have been recorded for later analyses. Maybe you will remember screens like this: {image}
This would probably the most popular screenshot you posted which obviously gave more thought to the fact that RSI was fully part of the criteria your dashboard looked before taking a trade - and if I get you right at this moment, you are saying that it was basically an experiment and mostly for visual purposes, am I right?

Give and take, I believe that everyone might have to be think for themselves and pull various pieces together to get something they would understand and be comfortable trading with.

Thanks.
2 traders viewing now