10.5 for monkeys

[blazko]

Here are my results. Setup at 15:00 GMT+1, DST.

Zentauro.png

Reap those pips!

Paul - any plans for an EA for this?

[zentauro67]

Forexdj sent me a kind of css for monkeys taken from Pips400 css assistant.

At the moment I received it I was observing something curious in the chart. EURUSD y AUDCAD were showing same converging triangles on the daily pivot. My feeling was that a triangle converging on a pivot demands more patience before the entry. It is not enough a body closing above the pivot. The triangle demands some kind of breakout of the upper line before the entry. Anyway, this kind of constrained price action around the pivot is always to be avoided.

triangle convergin on daily pivot.jpg

Imagen 001.jpg

Then, taking a look to this CSS for monkeys, I saw the reason behind these triangles. AUD CAD are both going up in CSS daily. So, they are ranging, converging around the pivot, forming a triangle. Same for EURUSD. Both in the same direction = No trend

Imagen css.jpg

Forexdj adapted the assistant to underline the pairs to be avoided (rangers). Maybe later, we could have a simple Info page showing the pairs to be ignored.

[cmeade2]

Hey Zen

What's your view if you have a positive HA bar that opens above the daily pivot at the change of day (coming up in about 40 minutes). Vice versa for a short. Is it ok to take the trade or do you need to wait for the bar to print in 4 hours.

cmeade2

[zentauro67]

Hey Zen

What's your view if you have a positive HA bar that opens above the daily pivot at the change of day (coming up in about 40 minutes). Vice versa for a short. Is it ok to take the trade or do you need to wait for the bar to print in 4 hours.

cmeade2

As I´m trying to play the system in the most mechanical way, for me that candle is so valid as any other. As soon as it closes, I´ll take the trades that could appear at that moment.

CJ´s thread shows how the assian session usually creates a fake bias to trap orders. He advises not taking trades after NY closing. But this is another history...

[cmeade2]

You will recall that an important part of 10.3 was to buy if the open was above the pivot and sell if it was below.

Hey Zen

What's your view if you have a positive HA bar that opens above the daily pivot at the change of day (coming up in about 40 minutes). Vice versa for a short. Is it ok to take the trade or do you need to wait for the bar to print in 4 hours.

cmeade2

As I´m trying to play the system in the most mechanical way, for me that candle is so valid as any other. As soon as it closes, I´ll take the trades that could appear at that moment.

CJ´s thread shows how the assian session usually creates a fake bias to trap orders. He advises not taking trades after NY closing. But, monkeys are another history...

[zentauro67]

Yes, for me this rule (the daily opening above/below the pivot) is still valid. Maybe a pivot crossed after the London (or NY) opening is more reliable, but I don´t want to discriminate the crosses before I can play the system as an EA would do, just following the simple rules. I´m far yet to do it properly.

[shellsnail]

I have looked at some backtesting for a similar system on the EUR/USD 60min chart that I think is highly programmable. Not sure where to share it but here seems like a look idea.

the conditions for a long trade are.

6AM GMT onwards till NY Close.
Daily Pivot > Weekly Pivot.
60MA>240MA on the 1hour chart.
Price needs to cross below the daily pivot and close below.
On the candle that price crosses below and closes below daily pivot, Sto 7 crosses from above 20 to below 20.
On the close of the candle when Sto 7 is at 0.00, enter buy trade with SL 30 pip, TP 45 pip.
Wait for 3 candles, if do not see two GREEN with one close higher than the other than close trade manually.
Avoid trading on ECB news day, Fed news day and NFP day.

So far there have been no losers from the backtest, you either get breakeven or a winner. Someone with a bit of technical knowledge can program this into an EA and do a backtest on all pairs it should be simple...

Cheers.

[drg]

Ok, really noobish question: I'm on a sell trade on the EurAud and the new opened HA candle is white. Should I wait for it to close to close my trade?

[zentauro67]

Ok, really noobish question: I'm on a sell trade on the EurAud and the new opened HA candle is white. Should I wait for it to close to close my trade?

All the trades should be made on the close of the candles. Wait until the candle close and if it is still white, then, close the position. I see right now a kind of doji, so it could easily change from white to red in the next 30 minutes.

Imagen 002.jpg

(Here you took a 'non conservative' trade. Selling on a strong support zone is always risky)

[drg]

I was trying to be a conservative monkey, but the indi didn't showed up on my chart (the indi works has I have seen some zones appear on other charts, must be some broker difference) I guess I will then proceed to throw some poop at my screen...

Now more seriously, I will continue to test this as I feel like this has great potential. And that info page for monkeys sounds like a great idea Cheers!