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Start Winning - Trade the Current Trend

  • #301
  • Nov 24, 2016 2:48pm Nov 24, 2016 2:48pm
For the record, the whole purpose of the template and system that I am trying to produce is to give us the ability to trade using just 1 chart but in doing so still having an awareness of whats going on in higher time frames.

It is hugely important to me that we can make decisions at a glance without too much information to process.

I hope that makes sense and that you understand where I am going with this. I want just the right amount if information in front of me for an easy, stress free life.
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  • #302
  • Nov 24, 2016 5:05pm Nov 24, 2016 5:05pm
Quoting wizlon32
Keeping an eye on the higher time frame trend direction is a good thing. The aim of doing so is to try to ensure that you are trading in the same direction as big money players, or smart money. {image}
Off to bed soon as I have got an early start but just wanted to thought this info might be useful to some of you.

Here is UJ M1. The green lights at top right tell us that the trend is up on M5 and M15.
The red lights below them tell us that there is a pullback on those TF. Ideally we would want to trade long in line with the slower MAs (Top).
First for an entry to be valid want to see our M1 34 EMA cross above the 55 EMA. Aggresive traders might take the next RSI entry signal.
A more conservative entry would be to wait until the bottom lights also turn green and then take the next RSI signal.
Or you might feel confident when the M5 has changed but the M15 is still behind. This is down to each individual to decide.
You can also watch the relevant TF on the RSI Dash to see what it is saying. It may pre-warn you that a potential entry is coming and it may also produce an entry signal of it's own.

If what ive said above does not happen then you don't have a signal so you save your money and find another pair to trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
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  • #303
  • Nov 24, 2016 5:16pm Nov 24, 2016 5:16pm
Quoting wizlon32
{quote} Off to bed soon as I have got an early start but just wanted to thought this info might be useful to some of you. Here is UJ M1. The green lights at top right tell us that the trend is up on M5 and M15. . {image}
I think I am quite happy with this template for now so I am going to try not to make any changes for a while. I want to use it and really get to grips with the signals including which lights we should be expecting to fall in to line 1st when we are stalking an entry etc - I presume there would be a specific order and I could take a guess but best to see it several times with my own eyes. Maybe the order will be random? We will see.
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  • #304
  • Nov 24, 2016 8:22pm Nov 24, 2016 8:22pm
Quoting wizlon32
{quote} I think I am quite happy with this template for now so I am going to try not to make any changes for a while. I want to use it and really get to grips with the signals including which lights we should be expecting to fall in to line 1st when we are stalking an entry etc - I presume there would be a specific order and I could take a guess but best to see it several times with my own eyes. Maybe the order will be random? We will see.
Hi WIZLON,

Could you please ZIP your indies and template of this latest version and share?


Tks and Rgds,
  • #305
  • Nov 24, 2016 10:33pm Nov 24, 2016 10:33pm
Pretty Hectic Week at Work; not much Trading.

Amazing to see how the thread has developed during the course of the week; good on you all. Nice work Wizlon and very good idea to leave the Templates as they are for the time being.

Hope you have all been Trading Well!.

Cheers
  • #306
  • Nov 24, 2016 10:57pm Nov 24, 2016 10:57pm
Quoting krismitt
Pretty Hectic Week at Work; not much Trading. Amazing to see how the thread has developed during the course of the week; good on you all. Nice work Wizlon and very good idea to leave the Templates as they are for the time being. Hope you have all been Trading Well!. Cheers
Hi krismitt. yeah I think I've definitely got the template how I want it for now but the MA light settings need some work. I was stalking UJ for a long before I went to bed and the lights weren't as "responsive" as i'd have liked. I was encouraged to see them react and change as I expected though but I just felt that they were a bit slow. I've got a couple of ideas so I will see how it goes.

Also encouraging is the fact that I chose UJ M1 based on the colour of the lights at the time (as per my example last night) and UJ definitely went up shortly after.

I also had my S15 chart open at the side and I managed to see a bear to bull transition on that TF which also pre-warned me of the pending bullish activity.

Another pre-warning was the volume increase at the M1 low right before the sudden up thrust.

All good stuff in my book.
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  • #307
  • Nov 24, 2016 11:00pm Nov 24, 2016 11:00pm
What are you all looking at?

I'm stalking GBPUSD, looking for a Long entry on H1.

Trade Well!.
  • #308
  • Nov 24, 2016 11:04pm Nov 24, 2016 11:04pm
Quoting Idris.Brazil
{quote} Hi WIZLON, Could you please ZIP your indies and template of this latest version and share? Tks and Rgds,
Hello mate. Yes I will upload a final template this afternoon (my time). Indicator settings will need to be adjusted by individual users though to fit the pair and TF they want as unfortunately there isn't a "one size fits all" solution.
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  • #309
  • Nov 24, 2016 11:06pm Nov 24, 2016 11:06pm
Quoting wizlon32
{quote} Hi krismitt. yeah I think I've definitely got the template how I want it for now but the MA light settings need some work. I was stalking UJ for a long before I went to bed and the lights weren't as "responsive" as i'd have liked. I was encouraged to see them react and change as I expected though but I just felt that they were a bit slow. I've got a couple of ideas so I will see how it goes. Also encouraging is the fact that I chose UJ M1 based on the colour of the lights at the time (as per my example last night) and UJ definitely went...
Sweet.

For now and until you are happy with the lights, I have decided to use my eyes and trade the system based on what I am able to see. Of course price action can move "on a dime" as you have said elsewhere but I'm happy to Trade the H1 for now, with the occasional "peep" at the M5s.
  • #310
  • Nov 24, 2016 11:15pm Nov 24, 2016 11:15pm
Quoting wizlon32
{quote} Hello mate. Yes I will upload a final template this afternoon (my time). Indicator settings will need to be adjusted by individual users though to fit the pair and TF they want as unfortunately there isn't a "one size fits all" solution.
Thank you, I understand what you mean to change the setting for each TF but so you have any guidance for adjusting the setting per the pair?
  • #311
  • Nov 24, 2016 11:15pm Nov 24, 2016 11:15pm
Quoting krismitt
{quote} Sweet. For now and until you are happy with the lights, I have decided to use my eyes and trade the system based on what I am able to see. Of course price action can move "on a dime" as you have said elsewhere but I'm happy to Trade the H1 for now, with the occasional "peep" at the M5s.
Nothing wrong with that buddy. Thats all i do most of the time when I trade on my phone. or when im scalping but I do like the idea of the lights as a little confidence booster. Hopefully I can nail something that really works. even if I cant I am enjoying trying.
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  • #312
  • Edited 6:08am Nov 25, 2016 1:13am | Edited 6:08am
Quoting htawfik
{quote} Thank you, I understand what you mean to change the setting for each TF but so you have any guidance for adjusting the setting per the pair?
Not in the sense that you are asking - That is a one size fits all solution. I just meant that you need to set some of the indicators to the current pair you are watching. Unfortunately they don't all have a "current pair only" setting like Lawgirls Trend Display does.
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  • #313
  • Nov 25, 2016 1:31am Nov 25, 2016 1:31am
Quoting wizlon32
{quote} Nothing wrong with that buddy. Thats all i do most of the time when I trade on my phone. or when im scalping but I do like the idea of the lights as a little confidence booster. Hopefully I can nail something that really works. even if I cant I am enjoying trying.
Confidence makes a world of difference wislon32.

Been waiting on this setup. Looked at it and never took the Trade. Why?. Lack of confidence; the lights were off

GBPUSD H1
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-H1.png Size: 27 KB
  • #314
  • Nov 25, 2016 2:03am Nov 25, 2016 2:03am
Quoting krismitt
{quote} Confidence makes a world of difference wislon32. Been waiting on this setup. Looked at it and never took the Trade. Why?. Lack of confidence; the lights were off GBPUSD H1 {image}
Sure glad I trusted my gut on this one.

Trade well.
  • #315
  • Nov 25, 2016 2:17am Nov 25, 2016 2:17am
Quoting wizlon32
{quote} Hello mate. Yes I will upload a final template this afternoon (my time). Indicator settings will need to be adjusted by individual users though to fit the pair and TF they want as unfortunately there isn't a "one size fits all" solution.
Hi WIZLON,

Ok with many thanks.

Best Regards,
  • #316
  • Edited 2:38pm Nov 25, 2016 6:56am | Edited 2:38pm
Here is the current template as requested. This is my suggested M5 TF Template currently set for EURUSD. Use the same principles but ammend the indicator settings to fit the TF you are trading.

I have moved the RSI Dash to the bottom right side of the chart.The MA Dash is still top right.

MA Lights Description
I made the following changes to the MA Lights in an attempt to make them more responsive (and my 1st impression is good).

1. Instead of having the next 2 higher time frames, I have set it to the next higher one and the next lower one.

  1. The LTF Lights can provide us with an early warning that after a pullback price is starting to turn back in in line with the HTF trend.
  2. We can see what is happening in front of us on our trading TF. Wait for 34x55 EMA cross (if it's not already in line with the HTF) and take the next signal.
  3. Drawing a Down trend line when looking to enter long and waiting for a break above it could add confidence.
  4. Drawing an up trend line when looking to enter short and waiting for a break below it could add confidence.
  5. This method is not essential to this system by any means but it might help.

2. I have changed the 10 EMA x 30 LWMA to 5 EMA x 8 SMA for better responsivness.

Template

Attached File(s)
File Type: tpl M5 New.tpl   64 KB | 353 downloads


Hope that makes sense. Here is EURUSD M5. MA lights are M15 and M1.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB
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  • #317
  • Nov 25, 2016 6:59am Nov 25, 2016 6:59am
Hi guys,

do you have some public results trading this system, is it worth it?

BR

Tomas
I like what I trade, I trade what I like
  • #318
  • Nov 25, 2016 8:05am Nov 25, 2016 8:05am
Just like the RSI Dashboard, a full MA Lights Dashboard could provide clues to potential trades.

Here is an example of USDCHF.

You can see that the Higher time frame trend is long and it is currently on a pullback or it is starting to change to a down trend. Straight away at a glance I know what is going on on multiple time frames with this pair

Attached Image
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  • #319
  • Nov 25, 2016 12:03pm Nov 25, 2016 12:03pm
Wizlon32, I share this indi, it helps me to be faster , may be you or someone like it
Attached File(s)
File Type: mq4 Symbol changer - limited 1.1.mq4   7 KB | 421 downloads
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 11-25-16 at 06.57 PM.PNG Size: 88 KB
“Stops don’t limit profits — they prevent disasters.”
  • #320
  • Edited 1:09pm Nov 25, 2016 12:38pm | Edited 1:09pm
Quoting Dagaco
Wizlon32, I share this indi, it helps me to be faster , may be you or someone like it{file}{image}
Thank you very much Dagaco. Love it. That really is a very nice little indi. Nice and easy to customise on your chart.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB
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