Forex Breakout Direction Indicator | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is slop direction line indicator? 1 reply

The Slope Direction Indicator - Does it repaint? 4 replies

Indicator for the direction of moving averages ? 2 replies

Monday direction indicator.. 0 replies

Can someone explain FXIGOR's slope direction line indicator? 1 reply

Attachments: Forex Breakout Direction Indicator
Exit Attachments

Forex Breakout Direction Indicator

  • #81
  • Apr 10, 2016 11:23am Apr 10, 2016 11:23am
Quoting MasterGuru
{quote} Also I wonder if NZDCHF, NZDJPY and NZDUSD were left out of the list intentionally as these pairs had been traded on the account shown on MyFxBook.
Sorry MY mistake,

NZDCAD
NZDCHF
NZDJPY
NZDUSD

Should be on the list.

Your coming across very challenging, like you think I'm on a scam or something? I appreciate your time and effort updating this forum, but please watch your tone on the way you say things, to quote -

"PayPal payment for 2-weeks trial has been sent with additional e-mail with MT4. Still waiting for response"
"were left out of the list intentionally"
  • #82
  • Apr 10, 2016 11:25am Apr 10, 2016 11:25am
Quoting MasterGuru
@krager What is the recommended Lot % setting per pair to target 1-3% daily gain? (Does "Lot Value" have to be set to "0.00" to use Lot %?)
The settings I use are all printed in the PDF I've sent you

1% for order 1
1% for order 2
1% for order 3
3% for order 4

3% for false breakout order

Lot value can be anything, as long as the setting on the EA is set to "USE % Balance"

Regards
Craig
  • #83
  • Apr 10, 2016 11:34am Apr 10, 2016 11:34am
List of pairs on #Post 77 updated to include missed off NZD pairs
  • #84
  • Apr 10, 2016 11:42am Apr 10, 2016 11:42am
Quoting krager
{quote} The settings I use are all printed in the PDF I've sent you 1% for order 1 1% for order 2 1% for order 3 3% for order 4 3% for false breakout order Lot value can be anything, as long as the setting on the EA is set to "USE % Balance" Regards Craig
Thanks for the update. My native language is not English as yours, so I apologize for my questions sounding too "challenging".

I think you are an honest guy and you have invested significant time and effort in this strategy, which is why I have signed up for a paid trial and also posted a useful "Equity Sentinel" EA and a "Copy to all charts" script in this thread which you may decide to add to the file package sent to your new customers.
  • #85
  • Apr 10, 2016 11:47am Apr 10, 2016 11:47am
Quoting MasterGuru
{quote} Thanks for the update. My native language is not English as yours, so I apologize for my questions sounding too "challenging". I think you are an honest guy and you have invested significant time and effort in this strategy, which is why I have signed up for a paid trial and also posted a useful "Equity Sentinel" EA and a "Copy to all charts" script in this thread which you may decide to add to the file package sent to your new customers.
MasterGuru, thanks for the kind words and feedback. I apologise if came across to strong. Just didn't want any bad PR on my system. I don't worry about other people trading styles, just focus on my own.

Again, thanks for the valid input into this thread.

Craig
  • #86
  • Apr 10, 2016 3:37pm Apr 10, 2016 3:37pm
Quoting MasterGuru
I will post my results for comparison (will also connect to Trade Explorer). For those subscrubers who have not figured it out yet, the showcase account has traded the following pairs so far: {image}
Thanks a lot Krager

its clear

very nice

i like
  • #87
  • Edited 4:07pm Apr 10, 2016 3:43pm | Edited 4:07pm
All 28 charts are "loaded" and ready to fire...

@Craig

Have you tested the strategy on indices (UK100, DAX, SP500, etc.) or commodities?
  • #88
  • Edited 6:16pm Apr 10, 2016 6:01pm | Edited 6:16pm
Quoting MasterGuru
All 28 charts are "loaded" and ready to fire... @Craig Have you tested the strategy on indices (UK100, DAX, SP500, etc.) or commodities?

i have a question

im a gmt-5 so open london is at 3am to me

i understand the ea need tell wich pair and direction to tarde

but im sleeping at open london

how can i use the ea?


your web : The EA manages all pending orders if you can not be at your computer at 08:00 GMT. All you need to do is tell the EA which pair and direction you wish to trade


so ; The breakout direction and strength will be shown around 01:00 GMT, the only thing that wll make you stop taking a trade is if the range box increases to a set size.


so in my gmt-5 time i cant see the direction at the 8pm ?
and put the direction and pair in the ea

but from the 1 gmt to 8 gmt the pair can change increases o decreases and what happen with the order ?
  • #89
  • Apr 11, 2016 12:22am Apr 11, 2016 12:22am
Quoting MasterGuru
All 28 charts are "loaded" and ready to fire... @Craig Have you tested the strategy on indices (UK100, DAX, SP500, etc.) or commodities?
No not yet, I'm doing some work with them, but not going to publish the results until I'm confident that this system works with them
  • #90
  • Apr 11, 2016 12:28am Apr 11, 2016 12:28am
Quoting Juan007
{quote} i have a question im a gmt-5 so open london is at 3am to me i understand the ea need tell wich pair and direction to tarde but im sleeping at open london how can i use the ea? your web : The EA manages all pending orders if you can not be at your computer at 08:00 GMT. All you need to do is tell the EA which pair and direction you wish to trade so ; The breakout direction and strength will be shown around 01:00 GMT, the only thing that wll make you stop taking a trade is if the range box increases to a set size. so in my gmt-5 time i cant...
You need to go with the broker platform time of your MT4, not your time.

So if broker platform time London opens at 10.00am on the MT4, the box end time will be 10.00am and the start time 8 hours before it, 02:00am

You need to set the EA direction before 08.00am GMT and look at the Indicator for direction / strength between 01.00am and 02.00am GMT
  • #91
  • Apr 11, 2016 12:42am Apr 11, 2016 12:42am
So this morning we have

Red News on JPY at 07:15am which means I will exclude any JPY pairs today

AUDCAD - 75% Sell
EURCAD - 75% Sell
EURCHF - 100% Sell
NZDCAD - 100% Sell
USDCAD - 100% Sell

You may want to only trade the 100% sell trades to limit your risk. My plan is to trade them all and exit trades when 3% of account growth is gained, unless trades are at brea keven, which I will then leave to run
  • #92
  • Apr 11, 2016 12:51am Apr 11, 2016 12:51am
I also find Barchart.com opinions useful, especially if I have a lot of trades cross on the same pair, just to get some info on that pair to sell if the predicted value is strong or weak, for example the CAD

http://www.barchart.com/opinions/forex/%5EUSDCAD
  • #93
  • Apr 11, 2016 12:56am Apr 11, 2016 12:56am
Quoting Juan007
{quote} so in my gmt-5 time i cant see the direction at the 8pm ? and put the direction and pair in the ea but from the 1 gmt to 8 gmt the pair can change increases o decreases and what happen with the order ?
Yes, re-reading your message, that is correct. If the pair range increases to over 80 pips the indicator will state NO TRADE, also if your on the EA as long as the setting Range Max= 80 the EA will not trade if the range = 81
  • #94
  • Apr 11, 2016 1:52am Apr 11, 2016 1:52am
Krager, why does it appears 0% on the breakout strength?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 84 KB
  • #95
  • Apr 11, 2016 1:59am Apr 11, 2016 1:59am
Quoting nbelchior
Krager, why does it appears 0% on the breakout strength? {image}
It's the way the indicator is calculated. Mine shows 0% too which is normal. I can't go into detail why it's 0% because that would open this system to be abused and copied by others.

Clearly, don't trade this one, only 70% + or more
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 0%.png Size: 154 KB
  • #96
  • Apr 11, 2016 2:02am Apr 11, 2016 2:02am
Quoting krager
{quote} It's the way the indicator is calculated. Mine shows 0% too which is normal. I can't go into detail why it's 0% because that would open this system to be abused and copied by others. Clearly, don't trade this one, only 70% + or more {image}
ok thanks!
  • #97
  • Apr 11, 2016 5:21am Apr 11, 2016 5:21am
Not sure if I ever made this clear, I only trade on the 30 min charts
  • #98
  • Edited 6:32am Apr 11, 2016 5:41am | Edited 6:32am
@Craig

1. Today's EUR/GBP SELL trade is working out nicely, however, I wonder why do I get the Breakout direction as "BUY" on the right side of the chart. Actually I can see the same "BUY" with Strength "0%" on all my charts...

2. When I remove the indicator, the chart looks different, showing today's range box (only), which was not shown while the indicator was attached.

I assume that attaching indicator would not be necessary for full automated ("AFK") trading if a "Breakout Strength %" setting were made available in parameters. Correct?

3. EA has activated trades on 12 pairs out of 28 pairs, which is probably because EA should have been applied to pairs with above 70% Breakout Strength.

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: EG 0411.png Size: 37 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EG 0411_2.png Size: 27 KB
  • #99
  • Apr 11, 2016 6:03am Apr 11, 2016 6:03am
Quoting MasterGuru
@Craig Today's EUR/GBP SELL trade is working out nicely, however, I wonder why do I get the Breakout direction as "BUY" on the right side of the chart. Thanks! P.S. Actually I can see the same "BUY" with Strength "0%" on all my charts... P.S.2: Also, EA has activated trades on 12 pairs out of 28 pairs (please see Trade Explorer link under chart)...{image}
If you following the rules in the PDF document I sent you, you should only be on these trades today

AUDCAD - 75% Sell
EURCAD - 75% Sell
EURCHF - 100% Sell
NZDCAD - 100% Sell
USDCAD - 100% Sell

You would only tell the EA to trade on the pairs where the Direction states BUY or SELL in that direction only, with breakout strength of 70% or more and where the range is 80 pips or lesss, then with the filter of checking the 200 EMA and 50EMA

A 0% strength means do you trade!

Trading all 28 pairs is extremely dangerous, I would strongly advise NOT TO EMPLOY this tactic, but stick to the rules!
  • #100
  • Edited 6:16am Apr 11, 2016 6:05am | Edited 6:16am
Just to confirm, you should not be the EURGBP trade. As much as I would like to claim the pips from that pair as successful on this system, it is not a valid trade set from my system

On my MT4 EURGBP states 100% sell but the Box was not below the 200 EMA and 50 EMA
1 trader viewing now