HGI used with Hurst charts

[TraderJoeForex]

54 trades taken last week in total and 49 won (mainly M15 so only 5-10pips each) which was positive but got 120pips of drawdown on a short EURNZD H4 trade I got into during the crazyness on Friday which has carried over to this week .. (although I already made most of them pips back trading the other way on M15).. I am fairly certain it will head back down so holding it. I didn't find enough H4 trades with a decent entry hence turning to H1 this week as perhaps a better compromise so we'll see.

I just got out of this H4 trade at the 2/8 line.. minus 120 pips reduced to minus 17.. clean slate now for this week

[TraderJoeForex]

TJF you're a boss.

My set up for the week is to pick the best 12 charts off the daily using ADX and CSS. Trade on H1 in the direction of the daily trend.

Entries: When both 9/18 and 30/60 line up, or if there is a trend wave enter if at least 1 hurst indi agrees.

Exits: When 9/18 changes color close half the position and move the stop to BE. On range wave do the same. If 30/60 changes color close all open positions.

I'll be tiling my windows and checking at the close each hour. Let the week begin!


Also hopefully this will help someone: I always start out on my default profile. But before I do anything, I save a new profile and trade off that one. That way I can close down the charts and not care about losing my layout.

Sounds like a solid strategy.. post some trades and let us know how you get on. Will you be setting a SL?

[TraderJoeForex]

Ok so here is my plan this week on H1. I am just sharing as I go for anyone that's interested...

I am going to use MATRIX to alert range wavy, trend wavy and trend arrows once candle has closed and I will have two filters before opening a position:

Current hurst cycle must be 4+ bars closed red for shorts, blue for longs
(as shown by i-trade-hurst-tma indicator 5/10)

Next candle must open outside TMA band (0.2 ATR). I use TMA true as more accurate looking back on chart when posting.

Enter at market at candle open OR If next candle opens inside TMA band place order to enter at the band (less spread). Red band shorts, blue longs.

If an opposite signal (like a range wavy) comes before a position has been filled then we discard that previous signal and now act on the new signal.

I will be using SL for this strategy as planning to trade this H1 timeframe in isolation and will place SL a couple of pips (to cover spread) behind the HGI signal we are trading.

If an opposite signal comes along before TP is hit then early exit rules will be the same as entry .. I will probably wait for 4 hurst cycle bars to close against and then either next candle open or 0.2TMA band to get out at best price.. or it may be prudent to get straight out - tbc!

For TP I will be using Murrey Math Lines which are based on Gann Octaves.
(Plenty of info out there on these... in a nutshell my understanding is that the high and low of the last 256 periods are taken as 0/8 and 8/8 lines, with the lines inbetween providing 8 octaves which price tends to range between. Beyond 0/8 and 8/8 we have -1/8, -2/8, +1/8, +2/8 as extremes which price will usually reverse from until broken through which creates a new octave and a new trend breakout).

For this strategy as a TP I will count the next even line from the point of entry i.e. 0/8, 2/8, 4/8, 6/8, 8/8.

Once TP is hit I will aim to re-enter with another order at the TMA band and the same rules. If an opposite signal comes along before new order is hit then I will delete my order and trade the new signal.

If a signal in the same direction comes along then I will trade this signal seperately and additionally (i.e. I have entered off a range wavy and then a trend wavy comes along.. this will be a second trade in the same direction.. then a trend arrow comes and that will be another.. so potential for multiple trades on each pair = plenty of action to keep me busy on H1).

If price action goes beyond 0/8 or 8/8 I won't enter any further position away from the center 4/8. I will await a reverse signal back towards center or a breakout and a new octave to trade.

I will post a few live trades this week as examples as I did last week. Bring on the pips :hi:

I am thinking there is no need to set TP if around to watch the trade. Better to wait for opposite signal and exit rules simply the reverse of entry.. i.e. wait 4 bars, open outside TMA or limit order at TMA to get out.

This will let the runners run.. perhaps just using the MM lines as TP when it's convenient to do so.

[TraderJoeForex]

I am thinking there is no need to set TP if around to watch the trade. Better to wait for opposite signal and exit rules simply the reverse of entry.. i.e. wait 4 bars, open outside TMA or limit order at TMA to get out.

This will let the runners run.. perhaps just using the MM lines as TP when it's convenient to do so.

... with one exception where we have entered off a range wavy then either the next MM line is a sensible target (or 4bars into opposite hurst cycle).

It is the trend wavy and arrow that are obviously likely to run and so just these that we ideally don't want to cap.

I think that is it on the new rules for now!

[zyx]

So if you got in long you will wait for 4 red hurst bars before you exit?

[TraderJoeForex]

So if you got in long you will wait for 4 red hurst bars before you exit?

Yes either that or the nearest MM line.. only forward testing will prove the better exit. And this is when the signal is a range wavy.

If the signal is trend wavy or arrow I feel that holding it will be better (most of the time...)

[TraderJoeForex]

Long USDJPY... range wavy so TP 2pips before next MM line and SL 2pips under wavy.

[zyx]

Short AUDNZD right before the close of the candle. Next one opened higher on the hurst. My rules would make me close half of the position, but that seems wrong right now.

Tallinex Empty4 4.png

Edit: because of this trade I'm adding the centered TMA 10 back onto my charts. That would have made it obvious this trade was not good

[TraderJoeForex]

Short AUDNZD right before the close of the candle. Next one opened higher on the hurst. My rules would make me close half of the position, but that seems wrong right now.


Edit: because of this trade I'm adding the centered TMA 10 back onto my charts. That would have made it obvious this trade was not good

I think you will do ok if you hold it. My rules would just wait for the 4 bars red first although that does filter out quite a few trades where the move has already happened.

[TraderJoeForex]

I think you will do ok if you hold it. My rules would just wait for the 4 bars red first although that does filter out quite a few trades where the move has already happened.

.. Here is another example. I have placed an order at the TMA band although the best entry may have been at the open of the previous bar.. it was only 3 bars red at that point so I waited.