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As simple as possible: 00 level trading

  • #34,301
  • Jun 10, 2016 3:31am Jun 10, 2016 3:31am
And of course it doesn't always work.
Sudden reversal are always possible.

#1 AUDUSD to SL

Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: AU-SL.jpg Size: 338 KB
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  • #34,302
  • Jun 10, 2016 4:24am Jun 10, 2016 4:24am
A good one, following a pullback around DP and after having crossed a RN.

#2 EURAUD to TP

Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: EA-TP.jpg Size: 271 KB
Porta itineris dicitur longissima esse
  • #34,303
  • Jun 10, 2016 4:03pm Jun 10, 2016 4:03pm
Quoting bubincka
{quote} Hi eak154, my considerations are the following: 1) I think that a SL = 10 pips is too tight 2) When there's trend, strength & momentum good entries are above / below pivot levels Best regards, Bubincka {image}
Thank you for your explanation. I agree that 10SL is a bit tight. I am experimenting with different TP and SL. I will stick with 5tp 10SL for now.

Green pips to all
  • #34,304
  • Edited 3:37pm Jun 12, 2016 6:33am | Edited 3:37pm
Hi guys. I'm learning this system. Thanks again to Udine for sharing it and to all contributors.
Playing with M-Candles indicator I found that it might be useful to draw hi-low rectangles for high time frame vs. regular candles. The chart becomes more clean especially if you try to insert a couple of such indicators for ex. to draw containing candles for H4 and H1 on M15 chart.
So I have added a new parameter HiLoRectangles which controls the drawing mode: full rectangles or regular candles. Hope this modification will be useful to somebody else here.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM15h.png Size: 84 KB
Click to Enlarge Name: GBPUSDM15hr.png Size: 83 KB
Attached File(s)
File Type: ex4 M-Candles.ex4   15 KB | 365 downloads
File Type: mq4 M-Candles.mq4   8 KB | 422 downloads
  • #34,305
  • Jun 14, 2016 12:57am Jun 14, 2016 12:57am
A mix made of lack of confidence, sudden reversal and Brexit fear, led me to do many mistakes after LO. Better chances to buy JPY appeared during FF session, but I avoided to enter for the above reasons. In the end still in profit for the day.

#1 AUDCHF closed manually (+ 3.0 pips)
#2 AUDCAD closed manually (+ 1.2 pips)
#3 NZDCHF closed manually (+ 1.5 pips)

Bubinka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ACHF-TP.jpg Size: 370 KB
Click to Enlarge Name: ACAD-TP.jpg Size: 368 KB
Click to Enlarge Name: NCHF-TP.jpg Size: 311 KB
Porta itineris dicitur longissima esse
  • #34,306
  • Jun 14, 2016 1:40am Jun 14, 2016 1:40am
Other scattered pips collected in the same way. I know it's not the best way to go, but today I trade as I feel (unconfortable).

#4 AUDUSD closed manually (+ 1.3 pips)
#5 AUDCAD closed manually (+ 1.7 pips)
#6 AUDJPY closed manually (+ 3.5 pips)

Bubincka
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU-TP.jpg Size: 382 KB
Click to Enlarge Name: ACAD-TP.jpg Size: 406 KB
Click to Enlarge Name: AJ-TP.jpg Size: 438 KB
Porta itineris dicitur longissima esse
  • #34,307
  • Jun 14, 2016 2:30am Jun 14, 2016 2:30am
@bubincka, I must confess your entries are great. Only that I incessantly keep horning my skills on the 30M time frame -- just like LuXing's but I'd need to find out from you how you use the Strength Line indicator; is it that the cross of the currency pair at the midpoint hints you on entry or when they point opposite to each other?
  • #34,308
  • Jun 14, 2016 2:39am Jun 14, 2016 2:39am
Quoting Cashfarm
@bubincka, I must confess your entries are great. Only that I incessantly keep horning my skills on the 30M time frame -- just like LuXing's but I'd need to find out from you how you use the Strength Line indicator; is it that the cross of the currency pair at the midpoint hints you on entry or when they point opposite to each other?
Not at all. My entries come mainly form PA analysis. Strength lines indicator gives me further confirmation when lines quickly diverge.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #34,309
  • Jun 14, 2016 6:44am Jun 14, 2016 6:44am
great work bubinka, I've been a follower of this thread for ages and I trade in Udine group in Skype. Do you for a setup at the start of every 15 minute candle??
  • #34,310
  • Jun 14, 2016 7:46am Jun 14, 2016 7:46am
Quoting dale88
great work bubinka, I've been a follower of this thread for ages and I trade in Udine group in Skype. Do you for a setup at the start of every 15 minute candle??
Hi dale88,

more often that not I wait the start of a M15 candle. Then, depending on strength, momentum and trend entry can also be not at the first 05/00 level. Sometimes when I see a good setup I can also decide to enter at market. As somebody said, 00/05 levels are lines in the sand that serve as compass to provide a reference.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #34,311
  • Jun 14, 2016 11:27pm Jun 14, 2016 11:27pm
Today the right pick at FFO was to buy GBP, but with this currency there's the added risk of referendum, so I took this one (very risky after a long bar, but with enough momentum to justify it) .
It's true that FFO is more difficult with many false breakouts, but in my view is worth to be monitored.

#1 EURJPY to TP

Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-TP.jpg Size: 393 KB
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  • #34,312
  • Jun 15, 2016 12:13am Jun 15, 2016 12:13am
#2 AUDUSD to TP

Bubincka
Attached Image (click to enlarge)
Click to Enlarge Name: AU-TP.jpg Size: 373 KB
Porta itineris dicitur longissima esse
  • #34,313
  • Jun 15, 2016 4:50am Jun 15, 2016 4:50am
Quoting bubincka
{quote} Hi Juan007, I have programmed it to draw in a single line the arithmetic average between D1 & H1 strength values. So I've set as defaults yPeriod = 60 and xPeriod = 1440. Parameter multiplier can have values greater than 1 if you want to give more weight to lower TF strength (i.e. H1). Of course you can change these parameters to suit your needs to any other TF. Green pips, Bubincka
Hi Bubincka.
Thanks a lot for your StrengthLines indicator. It looks very useful. I'm playing with its settings and I have some questions and suggestions for possible improvements or new features.
1. do you measure each currency strength against all other currencies (i.e. against 7 other currencies) for yPeriod and xPeriod periods in minutes?
you've mentioned: "it's a custom indi I've written to draw an average of ccys strength for D1 & H1 TFs." - What "ccys" stands for? is it CCI indicator value?

2. Can you please clarify settings for yPeriod and xPeriod parameters. Where their names come from? In the copy which I downloaded from your post the default values are: yPeriod = 15 and xPeriod = 60. When I set yPeriod = 60 and xPeriod = 15 I don't see any difference in the indi output - is it correct?
If I set yPeriod = 15 and xPeriod = 15 does it mean I will get strength comparison only for M15 period? and similar to get strength only for H1 I should set both to 60?

3. I see a delay in recalculation after I change parameters. If we need to set both yPeriod and xPeriod to the same value to get strength only fro one TF, in my understanding you still calculate the same period two times. So you may reduce calculation time for such scenarios allowing setting yPeriod or xPeriod to 0 or maybe to negative value and in such a case you won't calculate strength for that time frame.

4. I think it might be useful to include a parameter for 3rd period so we can specify H1, H4, D1 time frames - again with 0 or negative option as suggested in point 3 so it will be more flexible

5. The strength lines are very informative but kind of abrupt and erratic. Can you please add smoothing option to the output lines? i.e. it would be nice to have SmoothLength parameter to specify moving average length for the lines. When SmoothLength = 1 the output will be without smoothing like it is now, with SmoothLength = 5 you will draw MA 5 of the strength lines, etc.

Thanks again for the great indicator!
  • #34,314
  • Edited 8:02am Jun 15, 2016 5:45am | Edited 8:02am
Quoting factlover
{quote} Hi Bubincka. Thanks a lot for your StrengthLines indicator. It looks very useful. I'm playing with its settings and I have some questions and suggestions for possible improvements or new features. 1. do you measure each currency strength against all other currencies (i.e. against 7 other currencies) for yPeriod and xPeriod periods in minutes? you've mentioned: "it's a custom indi I've written to draw an average of ccys strength for D1 & H1 TFs." - What "ccys" stands for? is it CCI indicator value? 2. Can you please clarify settings for yPeriod...
Hi factlover,

I'll try to answer to the points you raised.

1. Yes. I calculate strength for xPeriod & yPeriod expressed in minutes for all the 8 currencies (ccys), Indicator CCI it does't matter at all.
2. xPeriod is the bigger TF, yPeriod the smaller. It's important to keep this order because to yPeriod is applied parameter multiplier, if you want to give smaller TF more weight. My settings are xPeriod = 1440, yPeriod = 60, multiplier = 1.
3. Point 1. & 2. give answer to this one.
4. Good idea, maybe I'll implement it some time.
5. I don't have any spare time to do this now, maybe this could be matter of some future development.

Hope it helps,
Bubincka
Porta itineris dicitur longissima esse
  • #34,315
  • Jun 16, 2016 12:22am Jun 16, 2016 12:22am
@ bubincka, grateful for your quick response with smiles. Can you share your script with automatic SL and TP as indicated on some of your charts?
  • #34,316
  • Jun 16, 2016 2:02am Jun 16, 2016 2:02am
Quoting bubincka
A mix made of lack of confidence, sudden reversal and Brexit fear, led me to do many mistakes after LO. Better chances to buy JPY appeared during FF session, but I avoided to enter for the above reasons. In the end still in profit for the day. #1 AUDCHF closed manually (+ 3.0 pips) #2 AUDCAD closed manually (+ 1.2 pips) #3 NZDCHF closed manually (+ 1.5 pips) Bubinka {image} {image} {image}
Great trades Bubincka !

I have been on holidays and not taken any trades, followed the market with one eye "at a distance" though.
Curriencies are very unpredictable and highly volatile right now, and that's an understatement...
Cautious is the message until this Brexit thing is over.

Green pips and keep up the good trading !

LuXing
Wisdom begins in wonder
  • #34,317
  • Jun 16, 2016 2:13am Jun 16, 2016 2:13am
Quoting eak154
today trades Tokyo and London session GBPJPY +5 GBPUSD+5 NZDJPY+5 NZDJPY+5(again) NZDUSD -10 (just trigger my buy stop and run for SL straightaway) How do you guys trade DS,DP,DR? all comments are welcome! Green pips to all {image} {image} {image} {image} {image}
Keep track of all (losing) trades taken when PA on M15/M30 crosses the Daily Open.
It would not be the first time that price crosses the D.O., but PA going "the wrong way" before the candle close.

Trading with DS/DP/DR, very simple.
If one of these imaginary lines is situated between your 00/50 level entry and the TP target, don't take the trade or enter later.
Example: you would like to take a long at the xxx.150 level with your TP level at xxx.200, but DR1 is xxx.180: I do not enter.
It would be better to enter at the xxx.200 level once PA has cleared DR1. This is of course a bit discretionary because momentum might have gone by the time price reaches the entry level of xxx.200.
Both myself and Bubincka have posted plenty of screenshots of this type of setup. Browse through the last 50 or so pages and you will find them.

Green pips !!!

LuXing
Wisdom begins in wonder
  • #34,318
  • Jun 16, 2016 2:41am Jun 16, 2016 2:41am
Quoting bubincka
{quote} Hi factlover, I'll try to answer to the points you raised. 1. Yes. I calculate strength for xPeriod & yPeriod expressed in minutes for all the 8 currencies (ccys), Indicator CCI it does't matter at all. 2. xPeriod is the bigger TF, yPeriod the smaller. It's important to keep this order because to yPeriod is applied parameter multiplier, if you want to give smaller TF more weight. My settings are xPeriod = 1440, yPeriod = 60, multiplier = 1. 3. Point 1. & 2. give answer to this one. 4. Good idea, maybe I'll implement it some time. 5. I...
Thanks for the prompt response! One more question.
I don't see this indicator redraws the lines when I switch TF for the chart. For ex. on M15 chart I set this indi with yPeriod = 60, xPeriod = 1440 and I see 2 lines were drawn after some delay. Then I switch this chart to M30 and now I see less candles for the given period (for ex. H4) but I down't see any redrawing for this indi. So your lines are not in sync with the candles on the chart and hence with the time axis - is it expected?
When I change the scale of the chart with + - buttons your lines are changed in sync with the candles.
Thanks for clarification.
  • #34,319
  • Jun 16, 2016 4:28am Jun 16, 2016 4:28am
Thank you LuXing and Bubincka for a clear explanation.

London
can't resist strength&momentum even though they already reached rm up and down.
USDCHF+9.5
CHFJPY +9.5
Tokyo
CADJPY +9.5
GBPJPY+5

Green pips to all
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHFeM15.png Size: 19 KB
Click to Enlarge Name: CHFJPYeM15.png Size: 20 KB
Click to Enlarge Name: CADJPYeM15.png Size: 15 KB
Click to Enlarge Name: GBPJPYeM15.png Size: 17 KB
  • #34,320
  • Jun 16, 2016 4:36am Jun 16, 2016 4:36am
Quoting Cashfarm
@ bubincka, grateful for your quick response with smiles. Can you share your script with automatic SL and TP as indicated on some of your charts?
Sure Cashfarm, here it is.
Btw it's not mine, it a custom adaptation I've made of original Udine's WUKAR. I only added the option to adjust TP/SL/TS to ATR.

Best regards,
Bubincka
Attached File(s)
File Type: ex4 TPSLManager_V1.ex4   36 KB | 621 downloads
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