10.3 SCALPER/RANGE TRADE SYSTEM

[blazko]

Don: one question.
Is it possible to display all Pips from Pivot S/R for all given pairs?
Currently i see only those that have some sort of buy/sell signal attached to them.

Best regrads

[atharmian]

Don,

While we are at it, and when you have time, can you:

1. Add a color coded (green-buy, red sell, grey/other etc ) column with pivot alignments, e.g. MP-WP-DP-DO-P saying that price (P) is on top, MP is at bottom? With mention of whether it is a CT or a range trade etc.?

2. Add back the Pairs Volatility column you had on previous versions? Of course traders can choose to display various columns or not.

Regards,
Athar.

[nanningbob]

Bob,

Truly a great summary of what we have been struggling to identify as the overall rules for various market conditions.

Looking forward to your New Year's Gift, and wishing it comes before the Chinese New Year !

My wish list:

1. Don't know what might the difference be between Fib M30 and Pivots H1. Could the coders provide both Fibs and Pivots?

2. Similarly for the trend indicator, TMA Slope. Would it be possible to substitute other trend indys, e.g., the traditional RSI, Bollinger Bands or perhaps TrendMagic from FF's good ol' days (based on CCI)?

From my non-coder POV, all a coder need do is provide menu choices to the trader with the parameter range being read off by the EA/Indy (e.g. -.4/.4 for TMA Slope.)

What I personally find is that the TMA is lagging quite a bit- not great for trend continuations, and so-so for reversals. Of course your own method doesn't depend upon a specific trend indy.

3. CT trading with that hedging is great stuff and I wish Phil had stuck around, but could the CT be applied to more than one TF here? That is, this CT strategy being used in its own right, as opposed to 'merely' a hedge?

4. I am hoping that Don and Paul would be producing what you mentioned. Should we also be expecting an EA by someone in addition to Don's Indy?

It is probable that the flexibility I ask for doesn't get too difficult to code, or confusing. Ultimately, what we want is to gauge a trend or reversal, and also look at the pivot alignment (maybe even a dynamic fib alignment in the future), just like all trading based on trending or breakouts. Then apply smart techniques like CT hedging, and have some inkling of volatility conditions for various pairs traded to judge their respective likelihoods of S/R or reversals.

The remaining is luck, aka, statistics (as in lies, damn lies, and statistics !)

Regards,
Athar.

The basis of what I will give the trader is a foundation from which to trade different styles of trading with in a proven structure. Whatever indi's, EAs, etc. a trader wishes to add will be up to them. The difference between the 30M and 1H charts is trader's choice not a recommendation by me. I basically have never used Fibs in trading but there are many who like them so they can use it if they wish. The fundamental idea behind the whole series will be traders will be able to choose a style that best fits them. I will just give the basic outline but each trader will have to choose which style fits them best.

Just to let you know I probably will be adding the TMA slope indi back in on the 4H and/or Daily chart. However, I will be going back to the original slope that everyone hates and repaints but I still consider it the best indicator for strength of move. The non repainting one does not give me strength of move until it is too late. The repaint or readjusting the bars shows how the move has really been running in the past. It gives me its overall strength and move for me to judge by. The True TMA slope is just another MACD or Histogram Oscillator. I dont find it as useful or as helpful. So that will cause a stir I am sure. Anyway, anxious to try out Don's updates.

[Mike]

... If you hedge lets say at 20 pips, you wait until the end of the USA session and then take a CT trade. However, lets say you trade .20 lots. You will close the profit at .20 and the loser you close at .10. This leaves you .10 to recover and the .20 pocketed as profit. Since you hedged at 20 pips you only need a 10 pip retracement to BE the rest of the losing trade. If price goes farther then the 10 pips plus spread then you will start making a profit on that series of trades....

Stimulating, offering options to choose from. By the way, is there a script or any other way to close 50% of a trade in Empty4?
I just made up a Hedge Recovery Trade-Tool which helps me to understand better, what hedging/recovery mean and why small lotsizes make sense (attachement).

[jmdias]

Nice work Don..
Thank u for your effort

[nanningbob]

Need an unusual clock, try this one. Just for fun.

http://www.asriran.com/files/fa/news/13 ... 86_922.swf

[disbellj]

1. Working on it. Going faster than I could have if I didn't have DWMP for 10.3 Paul made. BTW, Paul or anyone else can use my code from my Weekly and Daily OpenPivotSR indicators on my website. I'm not fully up on all rules, so I'll try to get there. Anyone want to check my code to make sure I have all the rules correct for all types of trades are more than welcome to do so, and please let me know if they need changed (exactly what needs changed).

2. I can if Bob wants me to. IMHO for a day trader, it's better to have about 20 days (since we have really only 21-22 trading days per month) instead of 30 days, 1 year, and 2 year ADR. To make the change for themselves, anyone can open the indicator in MetaEditor, make what they want to be true all the time to be true, what they want to be false all the time to be false, and hit F5 to compile. Done.

Kindest regards,

Don

Don,

While we are at it, and when you have time, can you:

1. Add a color coded (green-buy, red sell, grey/other etc ) column with pivot alignments, e.g. MP-WP-DP-DO-P saying that price (P) is on top, MP is at bottom? With mention of whether it is a CT or a range trade etc.?

2. Add back the Pairs Volatility column you had on previous versions? Of course traders can choose to display various columns or not.

Regards,
Athar.

[disbellj]

Done. I commented out lines of code in pic by placing // in front of them, and hit F5 to compile.

Don: one question.
Is it possible to display all Pips from Pivot S/R for all given pairs?
Currently i see only those that have some sort of buy/sell signal attached to them.

Best regrads

[disbellj]

All rules are in the function in pic.

As you can hopefully see, with my explanation, Bob's trades are set for Trade and Trade Entry, since Trade we know before Trade Entry, and Trade Entry happens at time DO is cross by P. If I add to only get signals at certain times, for instance hour before London and hour before New York, Trade Entry and alert would not be needed, since market orders wouldn't be getting used. Trade Entry is for market orders only, and alerts when DO is crossed by P (defined as iClose for current bid and LastBid for previous Bid, which gets updated at end of function). Phil's trades (and I may be wrong on all these rules, so please check) are last two if statements.

[blazko]

Done. I commented out lines of code in pic by placing // in front of them, and hit F5 to compile.

Thanks a lot for this.
Just to be sure: did you implement it in the DB or it's a hint for me to make changes by myself?

Have a nice weekend