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10.4 GT3RS style
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Author:  GT3RS [ Sun Mar 10, 2013 10:40 am ]
Post subject:  Re: 10.4 GT3RS style
trueblueTEX wrote:
Hey GT3RS

I only see one MA on your charts.
Do you mean to have 2 different EMA's and enter when the 2 EMA's cross?
Or do you use a 3EMA for one chart and an 8EMA for different timeframe?
Or do you look for price to close over one the EMA's and then enter after the first full bar both opens and closes on the other side of the MA?
Thanks
TEX

added material:
Also, do you just enter market or do set pendings?[/quote]

Hi TrueBlue!!

I only use the 3EMA and 8EMA on the M15 chart. I don't have them on there as it just clutters the chart up. However, I have an indicator which draws an arrow on the M15 chart to show the crossover has happened. Have a look at my template.

The entry is when the 3EMA crosses the 8EMA. No pendings. Enter at market.

I'll try to post charts each evening this week if there are any deals.
Author:  GT3RS [ Sun Mar 10, 2013 10:50 am ]
Post subject:  Re: 10.4 GT3RS style
Mike,

Not sure I want a bot, but if someone develops one, all well and good!

I just don't like the idea of leaving a computer to do my trading.

I also have other things to investigate.

For example, I am more comfortable taking trades from areas where price "doesn't want to be."

For example, in a downtrend, I am much happier taking a short from Weekly resistance, or when price is ABOVE the weekly mid pivot at least.

However, what I DON'T know is whether this is just my psychological hangup or if there is some benefit to only taking these trades.

My results thus far are based on taking ALL signals, even if I'm shorting at weekly support - recent strong moves have proved that this is ok - for the moment....

Remember, with this method, we are only looking to take a very small slice of the overall move [with a tight SL] from a high probability turning point, as identified by 10.4.

Having said that, I am also interested in looking at other ways to exit.

A 50% strike rate with R:R of 1:4 is very profitable. But is there a way to get more?

On my list to investigate is exiting when:

Price crosses the H1 34,34,34 kijun sen.

Or any number of the 10.4 ways to exit.

Input in this area would be very much appreciated.

Finally, I would be eternally grateful if someone could write:

An alert for when RSI [2] flatlines at 0 or 100 on candle close.

2 scripts [one for short, one for longs] to drag on to the M15 chart after an RSI [2] flatline. This script would need to open a position when 3EMA crosses 8EMA, with SL 1 pip above above swing high + spread/1 pip below swing low, and a TP of 4 x SL.

Any takers :)
Author:  xfr8dog [ Mon Mar 11, 2013 3:16 pm ]
Post subject:  Re: 10.4 GT3RS style
Hi GT3RS,

Interesting spin on NB 10.4.

This thread might get lost here in the Automated trading systems section though.

You might get a better response if you move this to the another spot. Maybe the Nanningbob 10.x Forum and the sub forum Manual 10.x Trading thread.

Just a suggestion to maybe get some of the many talented people to take a look at it.

Anders
Author:  spotdespot [ Mon Mar 11, 2013 4:06 pm ]
Post subject:  Re: 10.4 GT3RS style
Hi Rob,

I spent quite a while looking at this at the weekend and the more I looked and visually back tested the more I like the concept.

Here are some thoughts from what I saw at the weekend:
  • I am a fan of giving trades room to breathe but I hate giving back pips. I will be testing out setting all trades to BE at 75%-ish of the target. If you had done this last week I believe your USDCHF trade would not have cost you 2% and it would have made no difference to the others.
  • It appeared to me that 4R targets were great BUT if the target pips was more than about 80% of the ADR then success rates were reduced (I have no numbers to back this up - just visual observation, but I will try to put something together in the coming weeks.). So I will just skip trades where the SL is too big relative to the ADR OR what I may well do is set a pending limit order to get a better price, without affecting my SL placement. In many, many cases, where the SL was too big price retraced enough to give us a good entry and preserve the 4R trade with less than 80% ADR target.
  • I use the 20 period FastTMALineNRP indicator in much of may trading. I will never take a trade where the price didn't start on the far side of the middle TMA line. So for example if a short is triggered on the H4 I won't look at it if price is below the middle TMA line. Then I will do the same on the M15. This ensures there is at least some intial room for the trade to move.
  • The introduction of the Laguerre RSI filter on the 10.4 thread had me playing with that and I found, what I believe are some useful ideas with it. I overlayed the RSI2_on_NT_TMA over the Laguerre (I have been overlaying RSI and stoch previously). Basically if you see the attached - if the Laguerre (red line) crosses the red 0.15/0.85 line (with an H4 candle close) after the RSI(2) (blue) has crossed it then look for trades on M15, even if the RSI(2) doesn't hit exactly 0/100. On the charts I have set up the RSI(2) to 1-99 as you suggested and the Laguerre to 0-1.
  • Once you drop down to the M15 chart if you follow the same rules - i.e. RSI across the red 0.15/0.85 line before the Laguerre before considering a signal it appears to back up the entry further.
  • The last point I have for now is that although the EMA cross indi is good, quite often you can just take a trade based on price action - e.g. outside bars etc but this diverges away from the mechanical aspect so I won't say any more.
  • A side note but I also use the 63EMA a lot and I am far more wary of trades if the 20 TMA middle line, 63EMA and 240 LWMA are not in the correct "order". I will be especially careful if the 63EMA has crossed the 240 LWMA - in fact I would need a very good reason to take a trade in this instance regardless of price being above the 240 LWMA.
These are all just visual backtest observations at the moment and I need to do some forward testing but that will take a while. The charts below show 2 trades I took this morning on AUDCAD that met the above criteria - I entered the second one based on price action but really it was valid with the EMA cross too if you wanted to consider a second entry. I did so because it looked very clean (with the RSI/Laguerre entry on M15).

Oh - and I am not sure how the EMA Crossover Signal indicator was named but it is a signal for smoothed moving average crossovers ;)

I have attached the indi's I have used in case anyone wants them. The RSI2_on_NT_TMA indi is one provide by candletiger on the advanced 10.4 thread and the laguerre rsi indi is from forex-tsd - an indi genius called mladen. The FastTMA one is widely available I believe.

Unfortunately I am travelling for the next week so won't be able to do more testing until my return but I have to say I like this approach. It can even run hand-in-hand with vanilla 10.4 if people want to do both. Thanks Rob!

Cheers,
Dave.

EDIT: I meant to mark up the charts but didn't save! Pretty obvious anyway I guess. The Blue MA is the 240 LWMA as per 10.4, the Magenta is the 63 EMA (close).
Author:  eevra [ Mon Mar 11, 2013 6:25 pm ]
Post subject:  Re: 10.4 GT3RS style
Hi,

I copied the indis & pasted. But I dot get middle line of FastTMAlineNRP in my chart in any TF ?? What mistake I did ?
Author:  spotdespot [ Mon Mar 11, 2013 6:34 pm ]
Post subject:  Re: 10.4 GT3RS style
eevra wrote:
Hi,

I copied the indis & pasted. But I dot get middle line of FastTMAlineNRP in my chart in any TF ?? What mistake I did ?
It is off by default probably - go to properties (of the indi) colors tab and check the first line - change to black or whatever.

Would you be able to edit your post please and remove the quote as it takes up a huge amount of space?

Thanks,
Dave.
Author:  McNish [ Mon Mar 11, 2013 6:36 pm ]
Post subject:  Re: 10.4 GT3RS style
Hello Rob,
Nice little tweak to 10.4. Though I'm not trading the 10.4 as yet, I do take references from it, on and off, for various reasons. What I like best about the tweak in to look for the trade in the lower TF in either Eur or Ny sessions as that's where most of the momentum is. Good stuff.
spotdespot wrote: [*] The introduction of the Laguerre RSI filter on the 10.4 thread had me playing with that and I found, what I believe are some useful ideas with it. I overlayed the RSI2_on_NT_TMA over the Laguerre (I have been overlaying RSI and stoch previously). Basically if you see the attached - if the Laguerre (red line) crosses the red 0.15/0.85 line (with an H4 candle close) after the RSI(2) (blue) has crossed it then look for trades on M15, even if the RSI(2) doesn't hit exactly 0/100. On the charts I have set up the RSI(2) to 1-99 as you suggested and the Laguerre to 0-1.
[*] Once you drop down to the M15 chart if you follow the same rules - i.e. RSI across the red 0.15/0.85 line before the Laguerre before considering a signal it appears to back up the entry further.
Hi, I got most of what you say except for the above two. Kindly clarify here once again. So it's a buy trade scenario in the given example and the blue line (RSI) has crossed into 0.15 - 0.00 zone from above and now we're waiting for the red line (Laguerre) to do the same and confirm it at the close of an H4 candle. Now we go down to a lower TF and look for the pattern to repeat and thus look for a trade opportunity. Have I go it yet? Thanks.
Author:  spotdespot [ Mon Mar 11, 2013 6:59 pm ]
Post subject:  Re: 10.4 GT3RS style
McNish wrote:

Hi, I got most of what you say except for the above two. Kindly clarify here once again. So it's a buy trade scenario in the given example and the blue line (RSI) has crossed into 0.15 - 0.00 zone from above and now we're waiting for the red line (Laguerre) to do the same and confirm it at the close of an H4 candle. Now we go down to a lower TF and look for the pattern to repeat and thus look for a trade opportunity. Have I go it yet? Thanks.
Hi McNish - Yes you have it. You will sometimes find that the pattern has just occurred on the M15 timeframe (last few bars) so then you just look for the MA cross. Please bear in mind this is nowhere near proven yet - Rob's original method is much more proven and I posted this for Rob's thoughts really more than for people to start using. All Rob's original setup conditions still apply e.g. London/NY session etc.

Cheers,
Dave.
Author:  McNish [ Mon Mar 11, 2013 7:24 pm ]
Post subject:  Re: 10.4 GT3RS style
Hi Dave,
Thanks for the clarification. Since the MA thing was not mentioned, I took it for granted. I see your point with the synergies of the three line on the Price chart panel. With this new info of a tweak, I now can see the 10.4 in new light and hope to take it live in the coming week.

Thanks again and travel safe. Regard,
Author:  eevra [ Tue Mar 12, 2013 12:03 pm ]
Post subject:  Re: 10.4 GT3RS style
Thx Spotdespot, Now it is appearing .. Will study & post comments
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