Gann Ribbon 10.7 System

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slowkey
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Gann Ribbon System

Post by slowkey »

Triangles and the right edge of the chart. Drawing triangles can help you with which way a break out will go. As far as you can see there is no cross of either the 30 min shadow ribbon or 60 minute down over the four hour. Three big climax exhaustion up bars are a give away of breakout up. You have a CSS entry here but if not always go to the Four hour and look too. Going lower may help too. It is a judgement call.
eurcadmh1 triangles.png
Now the second example. This is a counter trend move down into the lake below. You are going to wait and be sure but there is definitely a cross-down over the four hour.
eurcadmh1 triangles 2.png
Now looking at the big picture on the four hour you can see the good CSS for these moves. Also where they went.
The counter trend move had a wide open lake to cross down over the moving average and trend change.
eurcadmh1 triangles 3.png
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The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Gann Ribbon System

Post by slowkey »

Khalaad » Wed Apr 02, 2014 10:58 pm wrote:Slowkey,

Thank you.

I am not much of an ‘indicators’ person, but you have my support whatever its worth may be. All trading which use stops :good: deserve to be encouraged.

May you be Blessed with good health.

Khalid
Thanks, Khalid ... Your very Kind
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Gann Ribbon System

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Khalaad » Wed Apr 02, 2014 11:51 pm wrote:Slowkey,

Kind? :oops:

I have an axe to grind: to ‘square out’ (as Gann would have said) with all those comfortable with, and confident of, their trading approach to recommend the rather unfashionable STOP!

Khalid
I see the irony here I think. Well if you want to judge a system by whether it uses stops or not who am I to argue this fact. I use stops to lock in profit. I do not use them when I open a position. I usually know with in minutes when I have made a mistake. Occasionally I have a life to live. So I will put a stop where it is protected by S/R. If it gets hit at this location that means S/R broke down anyway and I have no discomfort with that notion. I was merely pointing out how the system lends its self to these locations. I never have discomfort in taking a profit no mater how small. Now for Mr Gann it was his use of the number 9 and its unique properties as a number that inspired a couple of traders to develop systems that preceded this one. I have taken those ideas and extended them. Time will tell whether this is a good system or not. However it is the one I will be trading and am happy to share freely. It will become more systematic and I will make videos to convey better what all of this means.
Happy Trading ... Khalid
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
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Gann Ribbon System

Post by slowkey »

Khalaad » Thu Apr 03, 2014 5:33 am wrote:Slowkey,

If there is irony in what I wrote, it is entirely unintended. My only intent is to stress, and also appreciate, risk control; stops being the most elemental form of risk control. It does not matter in what specific way stops, or other safe strategies, are used as long as effective risk control is practiced.

Risk control is the only axe I wish to grind.

Khalid
I agree totally that risk control is a very important element of trading and along with the mastery of the psychology of trading fundamental.
Thanks for participating Khalid.
Doug
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
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Gann Ribbon System

Post by slowkey »

This is a risky trade. It is counter trend. It has been a counter trend day per day candle. Once the trade cleared the round number it started to move. Two lakes till it gets to the average. JPY stronger than GBP. I have to run so a stop placed above the 30 minute grey primary time period. I have two 2 lot positions on and already into trade by 130 pips. These are the kind of counter trends trades I think the system will work well with but I will need to iron this out more. While I was typing price already in the teens so I have moved my stop to the 172.50 Round number. It is now a free trade. I will let it run with a 20 pip profit locked in.
gbpjpymm30 1 round number.png
Edit ...It did come back and hit the stop loss but it was still a 45 pip gain.
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Last edited by slowkey on Thu Apr 03, 2014 5:18 pm, edited 1 time in total.
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Gann Ribbon System

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Just wanted to show you some neat stuff about the ribbons that is not so obvious at first.

The classic M or Double Top reversal formations. Formed by traders on 5 different time periods. Fascinating stuff.

The hour on GBPUSD
gbpusdmh1 double 2.png
The 30 minute ... same exact formation but on lower time period
gbpusdmm30 double 1.png
Now the 15 min ... same exact formation but on lower time period
gbpusdmm15 double 3.png
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The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
Location: Maryland USA

Gann Ribbon System

Post by slowkey »

Took profit on GBPNZD. Hoping I can let EURNZD run through early after noon. Free trade. Stop moved to profit.
eurnzdmm30 post nfp.png
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The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
User avatar
slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
Location: Maryland USA

Gann Ribbon System

Post by slowkey »

So I will be trading the system the next few weeks with a goal of both scripting some videos and compiling a more complete trading guide. I need a little bit of a break to do this but if you have any questions or comments please post here and I will be by to answer.
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
User avatar
slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
Location: Maryland USA

Gann Ribbon System

Post by slowkey »

As I have been trading this system my stumbling block seems to be the CSS indicator in that it does not seem to scale to lower periods like I would like it too. It also may be making the system more complicated than it need be. So I have gone back to a simple stochastic indicator for timing. It can also help with exits which the CSS is not very good at. CSS in the form of the 10.6 info page is a great way to keep up with intraday or multi-day strength of a currency.

So here is some back ground on how I use a stochastic. Most people speed these indicators up. I do the opposite I slow them down. So I have taken the standard indicator in Empty4 and made the period 18 and slowing 4. Like Bob I am not using the k period. Below is a picture of a 7/2 stoch.
usdjpymm15 stoch.png
Now the 18/4
usdjpymm15 stoch 2.png
This on the 15 minute. If you look at Monday which was a narrow range day and both Stochs will be quite over reactive but I would not be trading this stuff on this time period. 18/4 below ...
usdjpymm15 stoch mon.png
The only place you might want to be trading is on the 5 minute which I would not recommend but here are the two charts.

On the 5 minute the 7/2 on Monday
usdjpymm5 b2.png
On the 5 minute the 18/2
usdjpymm5 stoch.png
Extending the period of an indicator just like a moving average reduces noise just like moving to a larger time period can. Adding slowing increases the lag but helps prevent false signals. There is nothing wrong with the 7/2 especially on the larger time periods and it works really well in Bobs System. However I need to cover all the time periods trade-able from 5 min to 240 min and I think this works a little better. If you have other settings that work for you that is fine. Also if the CSS is working for you that is great. I do think that the advantages of a slowed down indicator settings is that it tends to keep you in your trade longer. If you are a master 5 minute trader it is easy to see the advantage on the above chart of the slower indicator setting. People are constantly trying to make indicators do things they can not do. It would seem that if you are going to trade the 5 minute that you would want a really fast setting but that is not necessarily true.

The template below uses 1000 bar ribbons and you may want to decrease or increase from that input. My laptop now has 8 gigs so I have no memory issues any more. I will post this template in post one too. If you want to change the bar setting just open up the top indicator to inputs and change the bottom setting to desired bars. Now every indicator you open will open to inputs as you go down the list. You may want to use highlight the bar input and than paste the new number in to save more time.

I am looking at the best way to trade range at the moment and it seems so far to be on the 15 minute using the 5 minute shadow ribbon for guidance. I have not come to a conclusion yet.
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The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
User avatar
slowkey
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Posts: 791
Joined: Sun Dec 04, 2011 1:27 pm
Location: Maryland USA

Gann Ribbon System

Post by slowkey »

If you have not yet done so take a look and follow Bobs 10.7. The tools he is developing in that thread are from the ground up going to work with any system. I suspect they will work here too. So I am as usual very interested in anything Bob is developing. :)
The Gann Ribbons ... A new tool for looking at Time Periods, Price and Dynamic S/R in any system.

Now using HGI on 60 minutes and up & 10.7 with Hurst Targets intraday.
Bob's HGI Fourm
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3524


"No problem can be solved from the same level of consciousness that created it."

Albert Einstein
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