10.4 A Complete System

[garyfritz]

Excellent -- merci Mop!

[fok]

Thanks, Bob and Elixe.

Tim, what's the indi that shows the H1/H4/D1/W1 mini-charts at the right? That looks like a great way to get a macro-to-micro view of a pair.

It is the Stratman mini charts indicator.

http://www.forexfactory.com/showthread. ... ost7002341

[pgd]

hi bob,

kindly look at the gbpusd h1 chart posted below.

would you enter short:

[1] during candle marked 'A', the moment sto reads < 80 .... OR
[2] at close of candle marked 'A', when sto closes < 80 ...... OR
[3] during candle marked 'B', the moment sto reads < 80 .... OR
[4] at close of candle marked 'B', when sto closes < 80 ....... OR
[5] wait for ma15 (orange) to point downwards again and then take the next sto short trigger ?

thanks.

The break of a MA line or DO line would work. The signals are there so you enter the trade. It went about 70 pips off of last nights move.

#1 forget the close of the candle garbage. I never trade that way. When price decides to move you go with it, waiting for the top of the hour never made any sense to me.
#2 going with a break of a horizontal line (Daily/Weekly Open or xxx.000) or an angle line (trendline/MA) are always your best two options.

Yesterday playing the break of the DO or Trendline were your best two options to enter.

hi bob,

thanks for the reply.

by 'DO line', i assume you mean the Daily Open Line.
please confirm if that is correct.

i have re-attached the chart drawing the TL (a bit differently from yours) using the first 2 troughs in that incline (as would happen in realtime).

based on that, the following breaks are available:

candle
time
------
15:00 - TL break at 6052 (by ~ 2 pips)
19:00 - TL break at 6063 (by ~ 6 pips)
19:00 - ma15 break at 6060 (by ~ 3 pips)
20:00 - daily open line (magenta) break at 6045 (by ~ 48 pips)

a few questions arise:

[1] how would you make your choice looking at those events, as they happen ?
[2] how many pips beyond the line being broken do you place your entry order ?
[3] where would your s/l have been in the present case (we have the 1.6100 sweet spot about 40-60 pips above the listed break events) ?

[art]

morning guys, the 4 hour css is as flat as a pancake, any thoughts

[art]

nothings moving, not much news today

[jago25]

testing feedback Elixe. With B1H lights, would have expected red in this situation rather than green?
(bigger image; http://i.imgur.com/3IQNmPP.png)

Can't see EDSEL template download on page 686?

Here you go with the STO on ranging, I've also added the opportunity to change both bar width with numBarsRightH4 & numBarsRightH1 (5 & 3 default)

rules are now:

-- H4 (unchanged) --
H4 GREEN BAR : Bid above MA240H4 and MA60H4
H4 OLIVE BAR : Bid is between the two MA but above MA240H4
H4 GOLDENROD BAR : Bid is between the two MA but below MA240H4
H4 RED BAR : Bid is below MA240H4 and MA60H4

-- if "ranging" H4 (OLIVE or GOLDENROD) --
H1 GREEN BAR : Bid is below MA15H1 & Sto722 below 20
H1 RED BAR : Bid is above MA15H1 & Sto722 above 80

-- if "trending" H4 (GREEN or RED) (unchanged) --
H1 GREEN BAR : Bid is above MA240H1 and MA60H1 but below MA15H1
H1 RED BAR : Bid is below MA240H1 and MA60H1 but above MA15H1

I've checked quickly on current market conditions, seems to be working fine.

[Ploples]

nanningbob you can put a link in your signature as me with this code:

Code: Select all

EDSEL is [url=http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=76267#p76267]here[/url]

[Elixe]

Hi Jago,

No, bid is below MA60 & above MA240, this is an Olive H4 bar telling you H4 entered ranging definition as Bob defined it. Refer to the H1 rules on my post to check if the H1 bar shows correct color.

[jago25]

Hi Jago,

No, bid is below MA60 & above MA240, this is an Olive H4 bar telling you H4 entered ranging definition as Bob defined it. Refer to the H1 rules on my post to check if the H1 bar shows correct color.

Ah I see it now yes. I had a bit of blind spot on ranging as I had disregarded that for the moment until I figure out the trending trades first. Accentuating the difference between dark olive and bright green probably isn't needed - I was too much of a dummy for the dummy lights!

Ploples: thanks for the link
I've installed EDSEL alongside 10.4 & 10.6 as the indicator .mq4 files are the same size.

Bob's system is a bit like the direction I was going before I found this thread. I can see it would achieving much the same thing, just using slightly different things to do it with:
- identify trends in each currency by looking at various indicators like the CoT but on futures for each currency, find 2 extremes, maybe drill down with average price levels a bit
- then look for entry points on the smaller scale, naked trade searching for things like candle patterns
- SL/TP would then be set on a combination of past levels and gut instinct
- I didn't have any plan for ranging currencies though. It wasn't ready to use

I'm noticing spikes in price sometimes. It would be nice is there was something to monitor price (linux cli or cross platform for lower cost VPS), determine that the price is not just a single data point or stop loss hunt and only then place an order.

[pgd]

== extract ===

rules are now:

-- if "ranging" H4 (OLIVE or GOLDENROD) --
H1 GREEN BAR : Bid is below MA15H1 & Sto722 below 20
H1 RED BAR : Bid is above MA15H1 & Sto722 above 80

Elexi, Nanningbob,

here's something for your consideration:

pl take a look at the h1 chart attached. it bears the new dummy lights.
as you can see, the h4 light is olive, price being between 60 and 240 on that timeframe.
so, one can take signals in either direction.

the h1 light is showing green which would indicate that one should be looking for a long.
however, if one looks at the way the ma's are stacked on h1 : 15 < 60 < 240,
one would be looking for a short with price rising above 15 and falling back below 15.
should the h1 dummy light not be red in this case, then.
on the other hand, if 15 > 60 on h1 while both are still below 240, one would be looking for a long each time price dropped below 15 and rose back above it. the h1 dummy light would then be green.

And, mutatis mutandis in the h4 goldenrod ranging scenario...

kindly comment.
thanks.