Start Winning - Trade the Current Trend | Page 20 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What does it mean to trade with the trend - Define trend? 47 replies

Multis-trend trade EA for scalp on short trend 27 replies

Looking for indicator: alert when current price equal high/low of current bar 26 replies

"Trend" , how do you actually trace the current trend ? 23 replies

What indicator can best reflects a pair's current trend 11 replies

Attachments: Start Winning - Trade the Current Trend
Exit Attachments

Start Winning - Trade the Current Trend

  • #381
  • Nov 28, 2016 2:13pm Nov 28, 2016 2:13pm
questo è il mio modello
Attached Image (click to enlarge)
Click to Enlarge Name: Clip2net_161128211255.jpg Size: 433 KB
Attached File(s)
File Type: tpl Start Winning V2 H4.tpl   80 KB | 449 downloads
File Type: zip New Indicators.zip   172 KB | 540 downloads
  • #382
  • Nov 28, 2016 2:30pm Nov 28, 2016 2:30pm
Quoting mickael58
questo il mio modello {file} {file} {image}
Heiken Ashi could also be a good variation!
Indentify > Plan > Accept > Execute
  • #383
  • Nov 28, 2016 3:17pm Nov 28, 2016 3:17pm
I want to repeat a point that I made early on in the thread and that is that the moving averages on the chart give very similar information to 14 period RSI (or a moving average of it). When the 14 RSI is above 50, there there is a good chance that the MAs are also bullish. And when the 14 RSI is below 50 there is a good chance that the MAs are also bearish.

My personal preference is to use the 34 x 55 EMA combination before the 14 RSI to determine the trend. Perhaps your preference is to use the 14 RSI; my point is that you do not need to get too focused on both - but the choice is completely yours.

When I made this point at the beginning of the thread I said that I was going to include the 14 RSI in my RSI window for the time being to help to get my point accross and to aid learning. I am now going to remove it again as I don't need it.

The chart below is GU H1. The white vertical lines divide the periods when the 14 RSI is generally above or below 50. You will notice that the 34 x55 EMA almost tells the same story as I have just mentioned above. (black line is a smoothed MA of 14 RSI).

I hope that makes sense and makes this point clear.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 61 KB
Indentify > Plan > Accept > Execute
  • #384
  • Nov 28, 2016 3:51pm Nov 28, 2016 3:51pm
Quoting wizlon32
I am sure that my use of the LTF MA lights and RSI Lights has probably surprised some people, but I think the LTF trend can be also just as important as the HTF trend. One of the biggest mistakes traders can make is jumping in too soon so why not also keep an eye on the LTF trend. When the LTF trend matches the HTF and we get a signal on the current time frame (CTF) then we have a nice situation - HTF, LTF and CTF all in agreeance. Surely this gives us the best chance of success? I am going to change my LTF lights to M5 or M1 for all TF templates....
Hi Wizlon,

I just want to confirm something on the MA/RSI lights settings so it is clear for me so I can set up my templates and trade accordingly.

If the current time frame is H4 - TFs on the lights would be D1 (HTF) and M1/M5 (LTF)
If the current time frame is H1 - TFs on the lights would be H4 (HTF) and M1/M5 (LTF)
If the current time frame is M15 - TFs on the lights would be H1 HTF) and M1/M5 (LTF)

And in all cases the MAs (34 above/below 55) on the current time frame should be in the same direction as the HTF.

Is that all correct?

Do you use the LTF charts for entries or wait for the signals on one of the current time frames mentioned above? If H4 is you current TF but say you enter on a valid M5 signal you may be entering long before a valid signal shows up on an H4 chart. Presumably this is the idea as long as the H4 and D1 MAs are going in the same direction that you are entering on.

Thanks
  • #385
  • Edited 4:50pm Nov 28, 2016 4:26pm | Edited 4:50pm
Quoting Nelson35a
{quote} Hi Wizlon, I just want to confirm something on the MA/RSI lights settings so it is clear for me so I can set up my templates and trade accordingly. If the current time frame is H4 - TFs on the lights would be D1 (HTF) and M1/M5 (LTF) If the current time frame is H1 - TFs on the lights would be H4 (HTF) and M1/M5 (LTF) If the current time frame is M15 - TFs on the lights would be H1 HTF) and M1/M5 (LTF) And in all cases the MAs (34 above/below 55) on the current time frame should be in the same direction as the HTF. Is that all correct? Do...
You are right, my LTF RSI an MA Lights will be either M1 or M5. I believe anything higher is too slow because the purpose of the LTF lights is to indicate the immediate price direction. Please bear in mind that I am experimenting and trying to refine things to get the best template with clear and workable information displayed that I can act upon.

You are also right that the 34 x 55 EMAs on the current TF should tell the same story as the same MA combination on the HTF. Remember we are tring to trade in line with the HTF.

The safest way to trade is to wait for a valid signal on your current trading TF. That is what I recommend to everyone.

But lets say for example that you are stalking a long trade. The HTF 34 x 55 EMAs should be saying long (or else you wouldn't be looking for a long entry)
The current TF 34 x 55 EMAs should also be saying long. (or else you wouldn't be looking for a long entry)
Price retraces to some strong area of S/R - maybe a whole number of a fibonacci level and the LTF 34 x 55 EMA crosses in your desired direction.
In my eyes it is now acceptable to take an entry signal on the LTF.

Another example of applying discretion; today I was looking for a short entry on EU H4 but before I got a valid H4 signal as per this system a lovely bearish H4 pin bar appeared. The next H4 candle retraced up approx 50% of the previous candle wick. At that point I placed multiple shorts and closed them all for a few pips profit. My short trades were in line with the current and the HTF trend. but were against the LTF trend at that moment in time. I applied my discretion based on my knowledge and experience.

I hope that answers your question.
Indentify > Plan > Accept > Execute
  • #386
  • Nov 28, 2016 5:01pm Nov 28, 2016 5:01pm
If all else fails, pick a time frame, delete the MA Lights and the RSI Lights and just trade the 34 x55 EMA direction using the 3 RSI for entries.

Maybe just use 1 MA Lights indicator to show you the HTF trend.

You need to work out what works for you and do it!
Indentify > Plan > Accept > Execute
  • #387
  • Nov 28, 2016 6:32pm Nov 28, 2016 6:32pm
Quoting wizlon32
I want to repeat a point that I made early on in the thread and that is that the moving averages on the chart give very similar information to 14 period RSI (or a moving average of it). When the 14 RSI is above 50, there there is a good chance that the MAs are also bullish. And when the 14 RSI is below 50 there is a good chance that the MAs are also bearish. My personal preference is to use the 34 x 55 EMA combination before the 14 RSI to determine the trend. Perhaps your preference is to use the 14 RSI; my point is that you do not need to get too...
Totally agree Wislon32.

I agree that the information they provide is comparable; I also agree that each Trader ought to be comfortable with their final Template.

Thought I would share, as well, that I use use the Smoothed MA of the 14 RSI for exits. I may exit my Trade as soon as the 50 level is broken by this indicator on a specified Time-frame (not necessarily on the chart of my entry). If I am trading the LONG on the M5 for example, I might (not always) exit when "RSI_14" breaks below the 50 level. It's slightly faster than the MA Cross (34 / 55) and is great for Swing Trades on say the H4. Again, not a rule, but something I like to have as a viable option.

Trade well!.
  • #388
  • Nov 28, 2016 8:11pm Nov 28, 2016 8:11pm
Quoting wizlon32
{quote} Good trading krismitt.
Thanks to you Bro. Lots of nuggets in this thread.

If we Trade this system well, we can all make a deposit at the end of each week

Cheers.
  • #389
  • Nov 28, 2016 8:12pm Nov 28, 2016 8:12pm
Quoting rare
{image} Safe trend trade entered at pullback Blue line and left at R3 for 12 pips. Great system! Thank you wizlon32.
Well done Rare!

Cheers.
  • #390
  • Nov 29, 2016 1:05am Nov 29, 2016 1:05am
Quoting krismitt
{quote} Totally agree Wislon32. I agree that the information they provide is comparable; I also agree that each Trader ought to be comfortable with their final Template. Thought I would share, as well, that I use use the Smoothed MA of the 14 RSI for exits. I may exit my Trade as soon as the 50 level is broken by this indicator on a specified Time-frame (not necessarily on the chart of my entry). If I am trading the LONG on the M5 for example, I might (not always) exit when "RSI_14" breaks below the 50 level. It's slightly faster than the MA Cross...
Nice idea mate. Check this out.....Ignore the 55 EMA for a minute and see how price interacts with the 34EMA on any TF. Notice at the same time how the 14 RSI is interacting with the 50 level. The smoothed MA can make a difference and could be worth experimenting with further.
Indentify > Plan > Accept > Execute
  • #391
  • Nov 29, 2016 3:13am Nov 29, 2016 3:13am
Quoting wizlon32
{quote} Nice idea mate. Check this out.....Ignore the 55 EMA for a minute and see how price interacts with the 34EMA on any TF. Notice at the same time how the 14 RSI is interacting with the 50 level. The smoothed MA can make a difference and could be worth experimenting with further.
Will certainly have a go at it!. I know that the 34 EMA is Boss!

Trade well!.
  • #392
  • Nov 29, 2016 3:49am Nov 29, 2016 3:49am
Quoting wizlon32
{quote} You are right, my LTF RSI an MA Lights will be either M1 or M5. I believe anything higher is too slow because the purpose of the LTF lights is to indicate the immediate price direction. Please bear in mind that I am experimenting and trying to refine things to get the best template with clear and workable information displayed that I can act upon. You are also right that the 34 x 55 EMAs on the current TF should tell the same story as the same MA combination on the HTF. Remember we are tring to trade in line with the HTF. The safest way...
Hi Wizlon,

Thanks for your explanation, it all helps to make things clearer.

Taking EU from yesterday as an example - if on a H4 TF I had waited for a 3 RSI crossing 50 and for the candle to close before entering, we would be talking about entering when the big down candle had completed. If that was the case I would still be waiting now for the trade to be in positive territory. On the other hand if I'd waited for the 3 RSI to cross 50 on the H4 and as soon as it did so (i.e. not waited for the H4 candle to close) then used the first available pullbacks on the M5 to enter I would have entered much nearer the beginning of the big down candle and still be in profit.

This all sounds like it would be a good way to enter the longer term H4 moves. A few of those a week is all that I need

Thanks
  • #393
  • Nov 29, 2016 4:31am Nov 29, 2016 4:31am
Quoting Nelson35a
{quote} Hi Wizlon, Thanks for your explanation, it all helps to make things clearer. Taking EU from yesterday as an example - if on a H4 TF I had waited for a 3 RSI crossing 50 and for the candle to close before entering, we would be talking about entering when the big down candle had completed. If that was the case I would still be waiting now for the trade to be in positive territory. On the other hand if I'd waited for the 3 RSI to cross 50 on the H4 and as soon as it did so (i.e. not waited for the H4 candle to close) then used the first available...
Yes, but that is quite an extreme example due to the size of that H4 candle. Don't forget you also have the 90, 70, 30 and 10 levels which can also be used in the same way as the 50 level.
Indentify > Plan > Accept > Execute
  • #394
  • Nov 29, 2016 4:39am Nov 29, 2016 4:39am
Quoting wizlon32
{quote} Yes, but that is quite an extreme example due to the size of that H4 candle. Don't forget you also have the 90, 70, 30 and 10 levels which can also be used in the same way as the 50 level.
OK Thanks Wizlon, I'll bear those levels in mind too.
  • #395
  • Nov 29, 2016 6:35am Nov 29, 2016 6:35am
Well here is my first multiple entry trade using this system. Got in late on some entries and it lasted longer than I wanted and it will probably go down further but all in all a profitable trade on EU.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 114 KB
  • #396
  • Nov 29, 2016 6:38am Nov 29, 2016 6:38am
next trades based on the rejection of the H1 chart on US.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB
Click to Enlarge Name: Screenshot2.png Size: 65 KB
  • #397
  • Nov 29, 2016 7:34am Nov 29, 2016 7:34am
Quoting Grantmac
next trades based on the rejection of the H1 chart on US. {image} {image}
USDSGD - Is M5 your trading TF? I presume it is because your MA and RSI lights are set to M15 and M1.

The problem there is that you are trading against your current TF (M5) 34 x 55 EMAs. Price has not yet turned. Let the 34 x 55 fall in to line 1st and then trade the pullbacks.

Also your MA and RSI Lights are set to EURUSD. If they were set properly to USDSGD they would be telling you to trade long. Youneed to in to the settings and change the currency pair to 0.
Indentify > Plan > Accept > Execute
  • #398
  • Nov 29, 2016 7:40am Nov 29, 2016 7:40am
Yeah, thanks wizlon, I hadn't changed the template yet. I was actually looking for a reversal off the resistance area on the one hour and probably jumped the gun a bit. Should have waited for conformation of the 34/55EMA's.
  • #399
  • Nov 29, 2016 7:46am Nov 29, 2016 7:46am
thanks alot. hopefully learn some thing from all of you.
gob bless all of you
TRy my best to learn
  • #400
  • Nov 29, 2016 7:50am Nov 29, 2016 7:50am
Quoting mickael58
questo il mio modello {file} {file} {image}

Thanks for the Template, I love changing currency with ease!!
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM5.png Size: 49 KB
0 traders viewing now