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trend catching with NonLagDot indicator

  • #1,681
  • Jan 22, 2016 2:06pm Jan 22, 2016 2:06pm
Quoting kofix11
{quote} @TradeForexFx Thank you so much but I'm not sure... At the moment I see the EA only on one chart. Do I have to load the template on all charts after activating the script?
No, you do not need to load the template on all charts. running the script on one chart should open up the 12 charts with all the indicators and EA on them.

Some brokers have other than usual characters for the pairs, for instance instead of EURUSD they may have EURUSDm. If such is the case with you, please change the list of pairs in the script accordingly.

Also try this:
Create a template that you would like to have for yourself.
Run the script using the exact name you have for your template as the relevant input for the script

If someone can tell us if he/she could get all the charts with the EA and indicators on them.

TF
  • #1,682
  • Jan 22, 2016 2:27pm Jan 22, 2016 2:27pm
Quoting TradeForexFx
{quote} No, you do not need to load the template on all charts. running the script on one chart should open up the 12 charts with all the indicators and EA on them. Some brokers have other than usual characters for the pairs, for instance instead of EURUSD they may have EURUSDm. If such is the case with you, please change the list of pairs in the script accordingly. Also try this: Create a template that you would like to have for yourself. Run the script using the exact name you have for your template as the relevant input for the script If someone...
It works well here .... I'm using Oanda ...
Thanks
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #1,683
  • Jan 22, 2016 3:10pm Jan 22, 2016 3:10pm
Attached File(s)
File Type: ex4 MTF NLD bySW v2.ex4   30 KB | 546 downloads
The Shadow Know's
  • #1,684
  • Jan 22, 2016 3:37pm Jan 22, 2016 3:37pm
Hi All,

First, congratulation for this system to Lebaneese. And thank you all for so much contribution.
This system sounds awesome, I have to try it out.

It took some time to read all posts, examine almost all mt4 files and the pdf with examples. Let me summarize the system as I compiled these info and please do comment on it.

Nolagdot rules:
1. Core rules of the system:
- Apply indicator with Color 1 (so it colors dots), and length 20, others at 0. (so no repainting)
- Wait for color change on closed bar
- Wait for opposite directional candle = retracement candle, e.g. if color changed from red to blue => long setup, wait for a bearish candle
- first candle cannot be considered a retracement candle
- so if color changed just to red to blue and the candle is bearish, wait another candle as bearish.
- After retracement candle closes, add pending order at the break of the candle. Break means high/low, (not open) of the retracement candle.
- Additional retracement candles can change the penging order to the break of the newest retracement candle
- Set stop loss at the nearest swing. And dont touch it, only if you have no basket, e.g. only 2 pairs. In that case BE when you feel it.
- If opposite color dot appear, and entry is not triggered, cancel pending entry.
- If opposite signal appear and entry already triggered, enter opposite pending order with stop loss at nearest swing.
- Market will move in one directon eventually, firing one stop loss and leaving the other trade open, which have to make up for the gap between the 2 entries. (together with the basket)
- Check setups on 8-12 pairs, you will always see 4-6-8 pairs setting up on a day, and the catched trends will make up for losses plus gives you profit.
- Realtime, so equity does not suffer (only if days ands at minus) => basket concept.
- Close all trades at end of the day and next day look for new setups.

2. Additional considerations
- Search for trend changes, dont enter at middle and exhaustion of the trend.
- Check timeframes: M30-H4. Daily can be used for longer positions. Confirm longer timeframe trends and look for setups in that direction if using M30.
- E.g. up trend on H4, down trend on H1, and forming long setup on M30.
- Watch out for big moves during news and session opens. Setups forming right after that usually has a big stop loss, and not worth taking.
- Friday afternoon and bank holidays slows down market.
- So first 2-3 days are the best to trade and catch trends on a week.
- Use GMT +2 for candles especially for 4h and daily chart. Daily chart will not have 6, but 5 candles for a week as trading starts at 0 and end in 24 at GMT+2
- This might be the tie breaker for those blue and red dot changes (GMT +2 at 0:00 == New York 17:00 closing)
- Dont be greedy. 100 pips a week is more than enough.
- MM, learn yourself. Consider risk%, pip value, lot size, stop loss, weekly target etc...

I am playing with c# now, and i am writing a program that can backtest this with the basket concept, modelling it on 1M data, and testing 30m 1H 4H. I think the EA cannot backtest it on multiple pairs (it can only run on one pair at a time) and that is the key here.
Although I think all those rules are hard to code esspecially the cosiderations, but I will try it just for fun. Then of course I will forward test it as well.

Nice weekend and happy pips to all! I will continue to watch this thread.
  • #1,685
  • Jan 22, 2016 4:07pm Jan 22, 2016 4:07pm
Quoting Lebaneese
Thank you all for those nice word , I am happy to see new trader, experienced traders all agreeing on the simplicity of the system and the good results. As MM part I started my thread by saying no one ask about money management because it cant be learned it is earned with time and each trader style. A good MM will make a trader winner even if he is trading the worst system while a perfect system with bad MM will take all profit, plus greed and greed , u cant be a millionaire in 1 month you have to build you trust and your trading system to succeed....
Thank you for such a great system Lebaneese. I am looking forward to finding out what this wonderful gift might be. I can't wait to see this thread move to the next level. Excited to everyone build profitable accounts together.

Have a great weekend.
Know your edge and trade within it
  • #1,686
  • Jan 22, 2016 4:42pm Jan 22, 2016 4:42pm
Quoting captaingabi
Hi All, First, congratulation for this system to Lebaneese. And thank you all for so much contribution. This system sounds awesome, I have to try it out. It took some time to read all posts, examine almost all mt4 files and the pdf with examples. Let me summarize the system as I compiled these info and please do comment on it. Nolagdot rules: - first candle cannot be considered a retracement candle - so if color changed just to red to blue and the candle is bearish, wait another candle as bearish........
Welcome to the thread, and it is great to see someone who has taken such a keen interest in the concepts that they read and summarize the whole thread before commenting.

Your work ethic is to be commended and will take you far in the world of trading, or any other endeavor you might choose.

The only thing that I noticed in your summary was the point about the first candle not being a valid signal candle. I believe that this was when the nonlagdot indicator was repainting. Other than that it was a well worked and conceived summary.

GREEN pips to you good sir.
  • #1,687
  • Jan 22, 2016 4:45pm Jan 22, 2016 4:45pm
Captaingabi

could you explain please /"- Realtime, so equity does not suffer (only if days ands at minus) => basket concept."
Thanks
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #1,688
  • Jan 22, 2016 5:43pm Jan 22, 2016 5:43pm
Quoting landsat
Captaingabi could you explain please /"- Realtime, so equity does not suffer (only if days ands at minus) => basket concept." Thanks
I meant that open position is accounted on your equity each tick realtime. So if you have for example 2 open loosing position, your equity is decreased not just by the margin, but the loss as well. The basket concept seems fantastic for me, as it makes it more safe. You will have more positions and if you are a good trend catcher, adding them together should be a profit. And this means less (or no) drawdown. Also with such big basket of 12 pairs, if some pairs are ranging, others will still trend, (even if you think there is correlation between pairs SmoothTrader mentioned this in an older post) This gives us, or at least for me a feel of safety. Also it gives an opportunity to be more agressive on lot sizes, although I highly discourage more than 2% risk.

One thought on MM (without any regards to pip value and swap): I usually do the math in %. On a 1:100 leverage having 1% risk means 99% remains for pip movement after margin decrease which is 9900 pip. (100 pip is 1% in this case.) 2% risk means you get 98% after margin decrease, and 100 pip worth 2% of your equity, so 9800/2 = 4900 pip movement is available. If you take 5% risk, you get 95% after margin decrease, and each 100 pip is 5% so you get 9500/5 = 1900 pip movement available. These movement means a -1900 pip loss and your accound is reseted to 0 with a margin call. Now if you consider that you might open 4-6-8 trades a day, each with 1% that is altogether 4-6-8% risk. With 2% t is 8-12-16%. Having 16% risk means 84% remaining, but each 100 pip is still just 2% not 16%. So you can feel more safe. Although it can be a false feeling, I will know after I forward tested it for a long time.

With carefull stop loss and a moderate practice I think you can have consistent +100 pip weekly with no drawdown (weekly drawdown). Thats what I believe.
  • #1,689
  • Jan 22, 2016 6:00pm Jan 22, 2016 6:00pm
Quoting SmoothTrader
{quote} The only thing that I noticed in your summary was the point about the first candle not being a valid signal candle.
Thank you for your comment, I will take a note, so first candle closed on the first color change can be a retracement candle and a valid signal.
  • #1,690
  • Jan 22, 2016 6:51pm Jan 22, 2016 6:51pm
Quoting SmoothTrader
{quote} Again that is a trader's personal domain. The danger is that markets can and do gap from their close on Friday to their open on Monday. That gap may be in your favor or against you, and you have no control nor do your stop losses protect you. If your basket is positive, my own opinion, and it's just that - my opinion, I would close it and rest well over the weekend. If it is at a loss, I would do the same. The market will always be here to trade. GREEN pips to you my friend.
Thank you very much for your advise Sir!
  • #1,691
  • Jan 22, 2016 6:55pm Jan 22, 2016 6:55pm
I hit 2 SL from NJ, am I did something wrong?
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  • #1,692
  • Jan 22, 2016 7:16pm Jan 22, 2016 7:16pm
You can not expect to win with any signal, all these indis are not the truth carved in stone ! They may help us, the traders perhaps .... a bit .... possibly
  • #1,693
  • Jan 22, 2016 7:27pm Jan 22, 2016 7:27pm
Quoting DerBerliner
You can not expect to win with any signal, all these indis are not the truth carved in stone ! They may help us, the traders perhaps .... a bit .... possibly
truly understand. just to make sure my entry was not a mistake.

if that's not my mistake, i accept the losses...if that's my mistake, i want to avoid to repeat the mistake again next time.
  • #1,694
  • Jan 22, 2016 7:33pm Jan 22, 2016 7:33pm
Quoting captaingabi
{quote} I meant that open position is accounted on your equity each tick realtime. So if you have for example 2 open loosing position, your equity is decreased not just by the margin, but the loss as well. The basket concept seems fantastic for me, as it makes it more safe. You will have more positions and if you are a good trend catcher, adding them together should be a profit. And this means less (or no) drawdown. Also with such big basket of 12 pairs, if some pairs are ranging, others will still trend, (even if you think there is correlation...
Good posts and welcome. The way I have thought this out is lets say the leverage is 1:50 and assuming your stop loss is always at 100 pips, then on an average for the 8-10 pairs we trade we should know how much we would want to lose well in advance. Would I be comfortable to lose 16% of my account in case all my pairs go the other way? Or is it some other number? The week should begin knowing how much you would lose that week.

So, continuing on....Assuming SL is 100 pips we have a good idea of lots size that we should go with. Our aim is to make 2% on 10000$ for risking 16% of the basket! Thats not too bad. Odds are with you.

Alternatively, Lebanese is shooting for $1000 per week. 1 LOT no matter what. We dont know the leverage he plays with or.... I think he trusts this system so much that his experience has taught him that risk does not matter (dont take this literally all I am saying is he is diversified with his risk). The reason it works is because the odds that all 8-10 trades to fail is almost next to impossible. The basket is loaded but 20 pips here and 30 pips there and 10 pip here and 40 pip there and he is done.

MM is truly an individual thing. The common theme though is this is a fantastic system. You are essentially following the trend but scalping every week!
  • #1,695
  • Jan 22, 2016 7:48pm Jan 22, 2016 7:48pm
Quoting sechee
I hit 2 SL from NJ, am I did something wrong? {image}
The pending buy stop placed at the high of your first arrow would never have been activated by the rules because the next candle changes the color of the dot which means you should have cancelled your pending buy stop order. Therefore that was not a valid entry. Does that make sense to you?

The pending sell stop placed at the low of your second arrow was a valid signal. So out of the two arrows you have placed on the chart, only the second one was a valid signal.

As for a loss on a single pair, they will occur, but this method is based on trading a basket of pairs. While your second arrow would have potentially resulted in a loss due to its stop loss level, the other pairs in the basket had the potential to hit your basket take profit level even though this one pair had a loss.

GREEN pips to you, and may you enjoy a wonderful weekend.
  • #1,696
  • Jan 22, 2016 10:53pm Jan 22, 2016 10:53pm
Quoting Lebaneese
{quote} ​Albert can u show us please where did u lost your 65 pips because I don't see any loosing trade today .
Well Lebaneese, I was referring to the GN sell trade i took earliear. You thought it was nearing the end of the trend. I lost -90pips on that trade. But the basket gave me a lot more
Attached Image
My help is in the name of the Lord who made heaven and earth.
  • #1,697
  • Jan 22, 2016 10:56pm Jan 22, 2016 10:56pm
[quote=captaingabi

How does one find a middle of a run to avoid?
  • #1,698
  • Jan 23, 2016 1:22am Jan 23, 2016 1:22am
Quoting SmoothTrader
{quote} The pending buy stop placed at the high of your first arrow would never have been activated by the rules because the next candle changes the color of the dot which means you should have cancelled your pending buy stop order. Therefore that was not a valid entry. Does that make sense to you? The pending sell stop placed at the low of your second arrow was a valid signal. So out of the two arrows you have placed on the chart, only the second one was a valid signal. As for a loss on a single pair, they will occur, but this method is based on...
For the first entry, the dot was in blue when the trade was open, but it went all the way down until it turn to red.

I'm still counting on my basket to earn back all the losses (the basket is still open throughout the weekend)
  • #1,699
  • Jan 23, 2016 1:41am Jan 23, 2016 1:41am
Quoting captaingabi
{quote} I meant that open position is accounted on your equity each tick realtime. So if you have for example 2 open loosing position, your equity is decreased not just by the margin, but the loss as well. The basket concept seems fantastic for me, as it makes it more safe. You will have more positions and if you are a good trend catcher, adding them together should be a profit. And this means less (or no) drawdown. Also with such big basket of 12 pairs, if some pairs are ranging, others will still trend, (even if you think there is correlation...
Captaingabi

Very clear , thanks it helps

Landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #1,700
  • Jan 23, 2016 2:46am Jan 23, 2016 2:46am
Quoting sechee
{quote} For the first entry, the dot was in blue when the trade was open, but it went all the way down until it turn to red. I'm still counting on my basket to earn back all the losses (the basket is still open throughout the weekend)
Be sure that you understand the system. We place a pending buy stop at the high of the first counter trend down candle, after the candle has closed, when the dots are blue. The market never got that high again until after the next candle closed with a red dot which is when the pending buy stop would've been canceled before being filled. Therefore this was not a valid trade according to the system.

Review the rules and make sure you understand them. Write ALL the buy rules down on a sheet of paper, or small 3x5 card, and write ALL the sell rules down on another sheet of paper, or small 3x5 card. Keep them with you as you trade, and review them before placing any trades. GREEN pips to you, and I hope you enjoy the weekend.
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