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Simple, proven and profitable S/R system

  • #101
  • Apr 20, 2016 6:33am Apr 20, 2016 6:33am
Quoting boxferret
{quote} Hello. File - Open Data Folder - MQL4 - Drop it in the Indicators folder. Restart MT4 - Ctrl+N - Drag it onto your chart.
Yep, and then simply use the default settings. I personally donīt change anything when I use it.
  • #102
  • Apr 20, 2016 6:36am Apr 20, 2016 6:36am
Quoting Cendol
hi HCooper, is it a way to back test this indicator (by EA or manually) just for 3 or 4 months?
Hello, I would recommend you to not look on the history too much. Simply try to watch how the indicator behaves on small TF - for example M1. You will get the sense how it draws S/R zones, how it deltes them etc.
  • #103
  • Apr 20, 2016 6:40am Apr 20, 2016 6:40am
Quoting L.m
{quote} I've just come across this thread. HCooper, great work! S/R zone are by far one of the best and most profitables ways to trade forex. I saw that Hanover shared the same file that I use. For those of you who downloaded the file, please be aware that the standard settings are different from the file that Hcooper use. In particular the so called "fuzzfactor" is 0.5 in Hcooper file and 0.75 in Hanover and also the "zone_extend" setting is set to false for Hcooper. I personally use the same settings of Hcooper, don't know if they are the best...
Hi Marco and welcome here Thanks for mentioning. I simply use the default settings, so it looks like that someone optimized it. The indicator version that I posted with default settings draws S/R zones pretty accurately so I didnīt change anything.
  • #104
  • Apr 20, 2016 7:21am Apr 20, 2016 7:21am
Here is the next trade that I took today. The trade was pretty risky, so I trade after the bounce from the S/R zone and set very tight SL, but it went nicely so far.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-trade.png Size: 55 KB
  • #105
  • Apr 20, 2016 8:04am Apr 20, 2016 8:04am
Is this correct buy setup ?

Attached Image (click to enlarge)
Click to Enlarge Name: is this correct.png Size: 59 KB
  • #106
  • Apr 20, 2016 8:09am Apr 20, 2016 8:09am
Quoting Kubiasty
Is this correct buy setup ? {image}
The entry seems fine to me, but the TP could be little further for sure, around 80 mark.
  • #107
  • Apr 20, 2016 8:14am Apr 20, 2016 8:14am
Quoting Kubiasty
Is this correct buy setup ? {image}
Maybe the odds of price moving through one of these "S/R" levels, after it has been "tested", are better than a 2nd or 3rd bounce.
  • #108
  • Apr 20, 2016 8:59am Apr 20, 2016 8:59am
Hi HCooper, congrats to the thread! I too trade a pretty similar method (http://www.forexfactory.com/showthread.php?t=575746) on low timeframes/ticks: S/R levels, break out, rebound. Works.
  • #109
  • Apr 20, 2016 11:58am Apr 20, 2016 11:58am
Quoting Kubiasty
Is this correct buy setup ? {image}
Yes, this could be correct buy entry. But I think that this trade would ended on SL.
  • #110
  • Apr 20, 2016 12:03pm Apr 20, 2016 12:03pm
Quoting Anusragger
{quote} Maybe the odds of price moving through one of these "S/R" levels, after it has been "tested", are better than a 2nd or 3rd bounce.
Well I personally like to sell high and buy low - trade with limit orders and catching highs/lows (if there is not any strong fundamental news). With breakouts you buy high and hope that it will go even higher.
  • #111
  • Apr 20, 2016 12:05pm Apr 20, 2016 12:05pm
Quoting Billy888
Hi HCooper, congrats to the thread! I too trade a pretty similar method (http://www.forexfactory.com/showthread.php?t=575746) on low timeframes/ticks: S/R levels, break out, rebound. Works.
Thanks men! Your system looks interesting, I will take a look :-)
  • #112
  • Apr 20, 2016 1:25pm Apr 20, 2016 1:25pm
nice thread, HC!
especially with scalp on M1.
i've been tried to master the scalp since ages, with simplest method, and looks like i'm gonna found that here. finger crossed. haha..
absolutely subscribed.

cheers!
"If you run, you'll only die tired." - Sniper's philosophy
  • #113
  • Apr 20, 2016 1:28pm Apr 20, 2016 1:28pm
Quoting Kubiasty
Today scalps on M1 using this S/R zones: {image} Thanks HCooper!
How is your scalping going? Do you have consistent profits?
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #114
  • Apr 20, 2016 1:30pm Apr 20, 2016 1:30pm
Quoting HCooper
{quote} Yes, this could be correct buy entry. But I think that this trade would ended on SL.
hey, you're right!
how could you think that'd be ended on SL?
is that because of compressed demand (a few support area with close distance)??
"If you run, you'll only die tired." - Sniper's philosophy
  • #115
  • Apr 20, 2016 3:15pm Apr 20, 2016 3:15pm
Quoting Ramadas
{quote} How is your scalping going? Do you have consistent profits?
I started yesterday ;
Yesterday +18$
Today -9$
  • #116
  • Apr 20, 2016 5:06pm Apr 20, 2016 5:06pm
Hi HCooper,

Great thread! Good luck going forward. I've been through quite a few S/R indis myself, and the ones posted here are the best I've seen so far. I don't normally go below the M30, but your nice and sharp M1 entries reminded me that the road to perfection never ends, lol!

So, here's my today's GU short. M1 entry, initial SL 4 pips, exited with 47,6 pips, 1:11,9 RR. No complaints.

Attached Image (click to enlarge)
Click to Enlarge Name: gu_m1.png Size: 46 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu200416.png Size: 53 KB


Thanks for the inspiration.

Kosmo
mind over matter
  • #117
  • Apr 20, 2016 6:31pm Apr 20, 2016 6:31pm
Kosmos which indi u use?
  • #118
  • Apr 20, 2016 7:06pm Apr 20, 2016 7:06pm
Quoting hanover
{quote} The indy that I attached to post #73 apparently has alerts, although I haven't attempted to use them. I believe that it's the original version; the indy attached to post #1 is a renamed and stripped down version (and anyway, the .mq4 file would need to be uploaded, to allow a programmer to modify it).
  • #119
  • Edited 9:14pm Apr 20, 2016 9:13pm | Edited 9:14pm
Quoting HCooper
Hello and good morning everyone! Its nice to see how many traders interested this thread Lets start this day with fast scalp trade on USD/JPY {image} {image}
Thanks for sharing this system. Here is my setup for the London session. Looking forward to trading with you guys in a few hours.
Attached Image (click to enlarge)
Click to Enlarge Name: S_R_setup_london.png Size: 80 KB
Know your edge and trade within it
  • #120
  • Apr 20, 2016 9:54pm Apr 20, 2016 9:54pm
Very easy and great system! Thank you for sharing with us!
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