10.3 SCALPER/RANGE TRADE SYSTEM

[POH]

Here's mine, it is not really a fair summary though as I was trying out a few different methods and trade managers as you can see I had a loss of 116 pips in one trade which was a mistake from an EA. Also even tho I still have a positive win:lose ratio it was much better as the ea I used yesterday closed 12 trades in negative before they had a chance to move.

Trades Total: 68
Trades Won: 39
Trades Lost: 29
Trades Even: 0
Max Profit: 58 pips
Max Loss: -116 pips
Avg Profit: 20 pips
Avg Loss: -24 pips

[nanningbob]

If someone could add the coding of distance from Daily pivot to both Fib levels of Daily fib lines that would be a terrific tool to setting profit levels.

[nanningbob]

This indicator is set to GMT time. You can adjust it so you can reset the pivots with every session. I have it adjusted to GMT 5 which is NY close time. Dont know if it adjust to daylight savings time so I doubt it. Any way on this pic you can see the Yellow pivot NT time with the Green pivot time I have been using with Cowboy IBFX. The pink and red S/R lines are the ones used by the yellow pivot line. There is not back test with this version.

I also added the Daily open and you can see it is the same as it is not adjusted to NY time. Anyway if you want to play with this indi and get it to adjust with also an Open from that time. Have fun.

[nanningbob]

OK I combined the Rules of 10.2a with 10.3 and combined the systems into one. I also included the 5.1 EA with MPTM and Jump SL EA. I wrote the rules on the screen so you dont need a manual to refer to. I also switched to a black screen. You can use pending orders or the 5.1 EA to enter trades. Rules are simple:

4H chart.
WeeklyPivot Gold > Monthly Pivot Pink = Uptrend
If both the Daily Open White and Daily Pivot green > WP > MP Strong BUY look for big move--more than 1 DS/DR LINE
WeeklyPivot Gold < Monthly Pivot Pink = Downtrend
If both the Daily Open White and Daily Pivot green < WP < MP Strong SELL look for big move--more than 1 DS/DR LINE

IF DP and DO are between WP & MP then range trading look for smaller profits, no more than DS1 or DR1

Once you get your read from the 4H chart you then can go to your favorite Lower TF and trade. I plan to use the 5.1 EA in UpTrend and DownTrend and trade lower TF when price is ranging.

That is how I will look at it this week.

[nanningbob]

This is the 1H screen.

[nanningbob]

Attached is the new template, indicators and EAs. The jump EA is set for 2 kinds. One is set for letting price run it will take the -18 SL move it 10 pips at +6 10 again at +12 and then +1 every 6 pips after that. It is labeled +10 +1. The other Jump EA is labeld +10 +7. It will move +10 the first two jumps and then +7 every 6 pips after that. That one is designed for scalping especially during range times and the other is for trending times.

I wanted to set the take half at 20 but did not know how to do it so I left that out for now. I need to be educated on how that one works.

Again this is a test phase for 10.3 I like the fib indicator for range periods. I want to play with it for a while and see it in action first though. The trade instruction are on the screen. You can delete them when you are comfortable with the rules.

[nanningbob]

For those of you who like to counter trade you can use the pivot system to set your CT when the pivot and open agree with the direction you want your CT trade to go. Set the 5.1 EA and go.


If you want the trade to run and not be interfered with by the MPTM or JUMP EA just change the Magic number on the 5.1 EAs. The MPTM and JUMP EA are set to the magic number 103. If you want them to work on all your trades you need to change them from true to false on Magic number and change manage all trades from false to true.

[nanningbob]

The 5.1 EA only works on the screen it is on. The MPTM and JUMP ea will work on any trade with 103 as a magic number. They only need to be put on one screen. I have mine on the EUR/CHF since it has been dead in the water all year. The other I put on a weird pair like EUR.DKK or something now worth trading.

[hilavoku]

Hi Bob,

thanks for the adjustable pivot indicator and the combination of 10.2 and 10.3 into one nice system!!!!

have a nice weekend
Guido

[nanningbob]

I forgot to add the DailyPivot DailyOpen EA. These will enter the DO line when price hits the line and set the trade as a magic number 103 trade. These are the same ones I had in the ratio kit. Then the trade will be covered by the 10.3 MPTM and JUMP EAs.