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Start Winning - Trade the Current Trend

  • #241
  • Nov 22, 2016 5:27pm Nov 22, 2016 5:27pm
Everything you need to know about this system is contained in the posts and pages prior to this post. I am on a mission to improve from here on in. I will be trialling things and posting advanced ideas. The aim is ultimately to come out the other end with a simple and profitable system. If you are likely to get confused then just keep reading the 1st 11 pages and keep practising. If you have any questions regarding anything that has been posted so far then please just ask and I will do my best to answer.

I will continue to post some of my trades and other potential set ups that Idid not get.

I did say in post 1 that I was not here to teach the basics of trading.

If you are following along and understanding then I welcome you to help me. Lets try things out. Experiment. Lets make this a system that really works and makes money for all of us.
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  • #242
  • Nov 22, 2016 5:28pm Nov 22, 2016 5:28pm
Quoting lctrader11
Oh, gotch'a! Took care of that. My "general area" values for putting into the lower right-hand corner of my 2nd sub-window are now: Corner of chart = 1 Shift Up_Dn = 30 Adjust side to side = 0 Sig Bars Window = 2 Where's the EASY BUTTON ?? !! Thanks
I use shift up_Dn = 0
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  • #243
  • Nov 22, 2016 6:31pm Nov 22, 2016 6:31pm
Quoting wizlon32
{quote} jcat, can you please share your RSI above/under indicator please? I would like to check it out.

The two I have are on your template, in this picture. You see your RSI 3 (with over bought/sold). The middle indicator is the color bars, that simple shows above or below a certain level. I was using it for the RSI 14, but your dashboard takes its place. Then the bottom indicator is an RSI histogram, set at RSI 3. It is easier for me to use and see when the cross occurs.

The "RSI Custom" is the bars.
The "RSI Color" is the Histogram.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 47 KB
Attached File(s)
File Type: ex4 RSI Custom.ex4   8 KB | 258 downloads
File Type: mq4 RSI Color.mq4   3 KB | 278 downloads
  • #244
  • Nov 22, 2016 6:35pm Nov 22, 2016 6:35pm
Quoting jcat
{quote} The two I have are on your template, in this picture. You see your RSI 3 (with over bought/sold). The middle indicator is the color bars, that simple shows above or below a certain level. I was using it for the RSI 14, but your dashboard takes its place. Then the bottom indicator is an RSI histogram, set at RSI 3. It is easier for me to use and see when the cross occurs. The "RSI Custom" is the bars. The "RSI Color" is the Histogram. {image} {file} {file}
Thank you jcat.
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  • #245
  • Nov 22, 2016 7:33pm Nov 22, 2016 7:33pm
Here is a quick snap-shot of what I'm looking at. AUDUSD H1

Indicators
1. jcats RSI bar indicator set to 8 RSI and both value 1 and 2 at 50.
2. Signal Bar indicator - set to 34 and 55 EMA. 200EMA for bottom lights filter.
3. The normal 3 RSI indicator with no 14 RSI.
4. 34 EMA and 55 EMA - because that is what my signal bar indicator is using so it gives you an idea of how they look and interact. This also adds another filter but is optional.

This chart is ideal because all the lights in the signal bar are red and price + EMAs on current TF are bearish. When trading everyone must use thier discretion. I will check out some not so ideal charts tomorrow.

So we have established that we are looking for short entires, ideally after a bullish pullback.

Short Entry Signals (vice versa for longs)
jcats RSI bar indi turns green when we get a pull back - this is time to take notice. 3 RSI will give you the 1st indication as it turns down (preferably from OB levels but but essential). The ideal entry is 3 RSI crossing back below 50 level from above and RSI Bar turning red.

The red vertical lines show posssible entries according to what I wrote above.

Additional Entry Signals

When there is no change of colour on the RSI Bar indi to denote a pullback, but the 3 RSI does pullback and then crosses the 50 level again. I have not marked these so as to avoid too much clutter on the screen, but there are many of them that would be profitable.

As traders we must apply our own discretion. Look for S/R levels, Whole numbers, use fibonacci retracements and so on. Don't be an easy target for the big players.

Finally, I really can't recommend Volume as an indicator enough. Please study it.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 40 KB
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  • #246
  • Nov 22, 2016 7:40pm Nov 22, 2016 7:40pm
Quoting wizlon32
Here is a quick snap-shot of what I'm looking at. AUDUSD H1 Indicators 1. jcats RSI bar indicator set to 8 RSI and both value 1 and 2 at 50. 2. Signal Bar indicator - set to 34 and 55 EMA. 200EMA for bottom lights filter. 3. The normal 3 RSI indicator with no 14 RSI. 4. 34 EMA and 55 EMA - because that is what my signal bar indicator is using so it gives you an idea of how they look and interact. This also adds another filter but is optional. This chart is ideal because all the lights in the signal bar are red and price + EMAs on current TF are...

RSi candles, they do they same thing, and might be easier than the bars even.
Attached File(s)
File Type: ex4 RSI Candles.ex4   4 KB | 295 downloads
  • #247
  • Nov 22, 2016 7:48pm Nov 22, 2016 7:48pm
Quoting jcat
{quote} RSi candles, they do they same thing, and might be easier than the bars even. {file}
Have a look at it Jcat and see what you think. I like my volume candles so perhaps not for me. Thanks for your help buddy. Off to bed now. Catch you tomorrow.
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  • #248
  • Nov 22, 2016 8:49pm Nov 22, 2016 8:49pm
Quoting wizlon32
{quote} Have a look at it Jcat and see what you think. I like my volume candles so perhaps not for me. Thanks for your help buddy. Off to bed now. Catch you tomorrow.

MTF MA
Attached File(s)
File Type: ex4 MA MTF Display nmc.ex4   18 KB | 290 downloads
  • #249
  • Nov 23, 2016 1:42am Nov 23, 2016 1:42am
If anyone is testing out the signalbar indicator, my recommendation is set it to show the 2 TFs immediately higher than the TF you are on.

So if trading H1 set to H4 and D1. If trading on M5 try M15 and M30.

Please share your findings and any recommendations.
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  • #250
  • Nov 23, 2016 2:15am Nov 23, 2016 2:15am
Quoting wizlon32
If anyone is testing out the signalbar indicator, my recommendation is set it to show the 2 TFs immediately higher than the TF you are on. So if trading H1 set to H4 and D1. If trading on M5 try M15 and M30. Please share your findings and any recommendations.
Good morning. I can not set the signal bar M15 and M30 as I do?
  • #251
  • Nov 23, 2016 2:40am Nov 23, 2016 2:40am
Quoting nightfox84
{quote} Good morning. I can not set the signal bar M15 and M30 as I do?
You should be able to but the writing won't appear. I think H4 is the minimum TF that will display the TF letters.

Test it out by setting to H1 and H4. The H1 should be coloured correctly but no TF letters.

Test any TF combo you want by applying the settings, adding the MAs to your chart and switch between the relevant TFs to make sure it is correct.

Just remember which light is which as with M15 and M30 there will be no TF letter marking.
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  • #252
  • Nov 23, 2016 2:45am Nov 23, 2016 2:45am
Quoting nightfox84
{quote} Good morning. I can not set the signal bar M15 and M30 as I do?
You should be able to but the writing won't appear. I think H4 is the minimum TF that will display the TF letters.

Test it out by setting to H1 and H4. The H1 should be coloured correctly but no TF letters.

Test any TF combo you want by applying the settings, adding the MAs to your chart and switch between the relevant TFs to make sure it is correct.

Just remember which light is which as with M15 and M30 there will be no TF letter marking.

Probably stick with having the 34 and 55 EMAs on your chart too for now in order to make sure your trading TF is in sync with the higher TFs.

Sorry if there is confusion but stick with it. I think this is a change for the better.
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  • #253
  • Nov 23, 2016 2:54am Nov 23, 2016 2:54am
Quoting wizlon32
{quote} You should be able to but the writing won't appear. I think H4 is the minimum TF that will display the TF letters. Test it out by setting to H1 and H4. The H1 should be coloured correctly but no TF letters. Test any TF combo you want by applying the settings, adding the MAs to your chart and switch between the relevant TFs to make sure it is correct. Just remember which light is which as with M15 and M30 there will be no TF letter marking. Probably stick with having the 34 and 55 EMAs on your chart too for now in order to make sure your...
Ok. Thank you.
  • #254
  • Nov 23, 2016 2:55am Nov 23, 2016 2:55am
The PVSRA bars is an interesting indicator.. thanks for bringing that one to my attention.
Not sure if you know this, so please disregard if you do. But volume in MT4 is not the actual volume of contracts bought or sold at the broker.
It's merely the amount of ticks the price made during a bar at your broker. Tick volume. (change your market watch window to tick chart)
Volume in MT4 decides if it was a buy or sell if it was an up tick, or down tick.
Actual buying and selling volume (in contracts) could be far different, there could be many sizeable trades, made in single transactions that make more buying vol than sell in a bar, but tick volume may say otherwise.
In general though, the volume on MT4 is a good guide to momentum points. Where most trades are happening, or where the market participants are happy to make trades. Not so much the direction they are trading.
So even seeing a green bar at a low, could be an indicator of an acceleration in price, if traders are still bearish by selling in large quantities.
  • #255
  • Nov 23, 2016 3:23am Nov 23, 2016 3:23am
Quoting leeshindig
The PVSRA bars is an interesting indicator.. thanks for bringing that one to my attention.
Yeah I'm aware of all that mate but thanks for taking the time to post your explanation. All a retail trader can do is do their best to interpret what they are seeing. Thats all i do and it is working for me so far.

If you had enough money to manipulate the market would you push price to a relative high in order to really unleash your buying power?

Did you read the PVSRA pdf?
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  • #256
  • Nov 23, 2016 3:27am Nov 23, 2016 3:27am
Quoting nightfox84
{quote} Ok. Thank you.
I am working today but I will post some charts later with explanations.
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  • #257
  • Nov 23, 2016 3:29am Nov 23, 2016 3:29am
Quoting wizlon32
{quote} Yeah I'm aware of all that mate but thanks for taking the time to post your explanation. All a retail trader can do is do their best to interpret ehat they are seeing. Thats all i do and it is working for me so far. Did you read the PVSRA pdf?
I have it, but only made a quick scan through. I'll give it a good read tonight. Thanks!
  • #258
  • Edited 3:59am Nov 23, 2016 3:32am | Edited 3:59am
Quoting wizlon32
H1 Trading and H4 Direction This method will work equally as well on higher TF. If you prefer to hold trades longer the H1 and H4 combination could be good. This chart is EURUSD H1. The dotted lines show the position of the H4 10 EMA and 30 LWMA. We can see that we want to be sellers. Using the same principles as above we can enter on pullbacks. This time you can see that it wouls be better to enter when the 3 RSI leaves Over-Bought levels. Here's the maths - H4 = 4 x H1. 4 x 10 EMA = 40 EMA (green dotted). 4 x 30 LWMA = 120 LWMA. Simples! {image}...

Hi Wizlon, found this MTF MADash which you can configure to show the MAs needed. It is much easier to read than the one on the upper right hand corner, but it does not show the cross between 2MAs as the one on top.

Here is the Link where you can learn more on the settings.


http://www.forexfactory.com/showthread.php?t=519747
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 96 KB
If you do not risk it, you cant make it, you cant risk nothing for somethin
  • #259
  • Nov 23, 2016 6:39am Nov 23, 2016 6:39am
Took this short trade just a couple of minutes ago. Now it might not look like much but at 2 Lots I made more than enough profit to satisfy me. A few of these in a day and bingo!

GBPUSD M15.
Green MA is 34 EMA. Orange MA is 55 EMA.
Signal Bar set to M30 and H1 (next 2 higher TF) and Also 34 EMA and 55 EMA. 200 EMA is the other MA filter.

1. 3 RSI Goes OB on Bullish Pullback then drops.
2. RSI 3 crosses 50 level from above.
3. RSI Custom indicator turns from green to red.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB
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  • #260
  • Nov 23, 2016 6:46am Nov 23, 2016 6:46am
Quoting AgaJo
{quote} Hi Wizlon, found this MTF MADash which you can configure to show the MAs needed. It is much easier to read than the one on the upper right hand corner, but it does not show the cross between 2MAs as the one on top. Here is the Link where you can learn more on the settings. http://www.forexfactory.com/showthread.php?t=519747 {image}
Thanks Agajo. I will check it out but at the moment I am liking the look of the current signal bar.
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