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240 MA BUY.ABOVE_SELL.BELOW
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Author:  Nidolap [ Sun Oct 12, 2014 8:00 pm ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Impressive Bob.

Just a thought, what if we combine the trend and counter trend indis on one chart and get an entry and exit by both arrows?

I did that and, visually, it seems quite nice. The only thing is that sometimes profit goes away when we don't get a CT arrow and the price reverses, but that could be fixed with a breakeven at +xx pips.
Author:  nanningbob [ Mon Oct 13, 2014 12:55 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Nidolap » Mon Oct 13, 2014 4:00 am wrote:Impressive Bob.

Just a thought, what if we combine the trend and counter trend indis on one chart and get an entry and exit by both arrows?

I did that and, visually, it seems quite nice. The only thing is that sometimes profit goes away when we don't get a CT arrow and the price reverses, but that could be fixed with a breakeven at +xx pips.
It was in my notes but so far will concentrate on trend trading part. Obviously in ranging markets the CT 240 will work very well. The thing is this indi looks for only one specific type of trade. When it happens it almost always moves in that direction. I just have never tried it before with the 240 MA line. It is a dust off from my old 4.0/5.0 systems. They were CT trades but I looked at it for the 11.0 system and ended up finding it works quite nicely on the 240 as a filter. In other words, I didnt know it back then, these are CT trades that actually were trades back into the trend if you use the 240MA line.

Sooooooo ............... like the 10.7 system it was something I stumbled across while working to improve another system and ................. Anyway to answer your question after a ramble of my addled brain, this indi only looks for one very specific kind of move and yes it would work nice to close in profit if you get the signal. The problem is you may never get that signal. It only occurs in certain situations but when it does ......... :clap:

Astral you maybe the only person who remembers this but think of the trap door and you have an idea of what I did.
Author:  hannele [ Mon Oct 13, 2014 2:25 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Hi Bob,

thank you for your newest development, looks great :D

one question... I just tested it on eurusd 15min 04:45 bar where it gave me pink arrow to sell. Now at 05:24 the arrow disappeared when I clicked 30min and back to 15mins. Is it meant to do that ?

cheers
hannele
Author:  nanningbob [ Mon Oct 13, 2014 3:09 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
hannele » Mon Oct 13, 2014 10:25 am wrote:Hi Bob,

thank you for your newest development, looks great :D

one question... I just tested it on eurusd 15min 04:45 bar where it gave me pink arrow to sell. Now at 05:24 the arrow disappeared when I clicked 30min and back to 15mins. Is it meant to do that ?

cheers
hannele
If you change TF yes the conditions to the trade can change however it would take a reversal to make it do that and as I look at the chart there was a reversal. So that would have been a losing trade off of the original signal.

I took a gbp/aud trade from the 4H chart and pocketed 65 pips on that one.
Author:  nanningbob [ Mon Oct 13, 2014 3:20 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Let me know if this happens often because if it does I need to add a filter on lower TF. Right now it does previous and present candle. If I have to add a 3rd candle read I can do that. So it wont register until 3 candles confirm the move instead of two. OR I delay the confirmation with an adjustment to the 2 candle. This will be more of a problem with lower TF than higher TF moves plus its Monday and I dont trust indis too much for weekly open session JPY.
Author:  hannele [ Mon Oct 13, 2014 3:22 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Okay thank you for that Bob. My misunderstanding since I thought that once it paints the arrow on 15min time frame it will stay on in 15min chart for good.

You got a nice trade there :)
I'll go looking for those opportunities in UK open this afternoon.

cheers for now,

hannele
Author:  hannele [ Mon Oct 13, 2014 3:24 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
nanningbob » Mon Oct 13, 2014 1:20 pm wrote:Let me know if this happens often because if it does I need to add a filter on lower TF. Right now it does previous and present candle. If I have to add a 3rd candle read I can do that. So it wont register until 3 candles confirm the move instead of two. OR I delay the confirmation with an adjustment to the 2 candle. This will be more of a problem with lower TF than higher TF moves plus its Monday and I dont trust indis too much for weekly open session JPY.

You are right about Mondays... I will keep eye on 15min although I trade bigger timeframe.
Author:  nanningbob [ Mon Oct 13, 2014 4:14 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
I developed/borrowed the indi on the 4H chart based on the 240 MA from previous systems. It seems to work just fine there. Lower TF maybe another story but the back view looks good. Most of those moves though should work since they come from very extreme positions. I may need to tone down the entrance criteria though on lower TF. I am into the more volatile currency pairs which means I dont trade the USD very much right now. The USD has remained quite stable and uneventful so far this year. Nice run up in August and Sept. but that has been about it.
Author:  nanningbob [ Mon Oct 13, 2014 4:25 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
OK I got it now. Every TF the 240 line means something different. For example the 240 on the 4H is the same as the 60 on the daily and 960 MA on the hourly. The 240 on the 1H is the same as 60 on the 4H and 10 on the daily. On the 15M the 240 is the same as the 60 on the hour and the 15 on the 4H. So when you change TF the program deletes all the arrows and resets them to the new TF. When you switch back to the 15M the arrow is gone because the conditions of that trade are gone, price changed direction. If you stay on the 15M TF the arrow should stay and it would be a losing trade. I believe that is how the program works.
Author:  hannele [ Mon Oct 13, 2014 4:33 am ]
Post subject:  240 MA BUY.ABOVE_SELL.BELOW
Thank you :D Bob.

I feel more confident to trade this now that you explained the wipe-out.

cheers
hannele
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