10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

Bob, with your ratio kit do you still set a tp or do you let jumping control it all?

Jump Control should take care of most trades but if I see price hesitate at a S/R line I might just pocket it there and save the retrace pips. I need to see it in action for a while before I make decisions like this. I mean 10.3 is only a week old, it is not like I have a ton of experience at this yet.

[nanningbob]

NB I gotta ask, the buy and sell EA that you posted will open trade even with just 1 pip retracement? (Like those wave on one candle that goes above/below DO). Is it possible to specified the pips for retracement for example let's say at least 10 pips and max of 50 pips retracement from DO. I believe once the price broke far from DP (especially if Average Daily Range is already reach for that day) it is not too good to enter trade.

I have this idea but I can;t really code....so..I will just leave it in the open if probably someone has the same idea.


regards~

Dont know. I really manually trade a lot now, setting pendings, etc. But I do want to experiment with just putting this thing on every pair and see what happens. I smell nickle trade time coming up. I am looking at a 1 median must be above the line for a trade to happen to filter some junk out or a MA line. I looked at putting my 5.1 EA from 10.0 on 4H chart. Those look real good and playing with that. That is how I played those trades that went against me yesterday and I had all those SL hits. I then put the trusty 5.1 on the chart and bingo, price did reverse and go the way the open/pivot indicated and got all my money back. It was a nice set of trades.

[nanningbob]

If somebody want here is indicator... default is set at 0.236 fib you can change...

Happy Trading

You can have all sorts of fun with this stuff. I took your indicator. Put the 5.1 EA line on the screen Go with the arrows on the gbp/usd based on pivot above or below the open and this is what you get. The EA enters when price reverses into the direction of the Open above or below the pivot. Looks good. Just set the EA and TP at the Fib line. This trade looks good on both the 4H and 1H chart. Here is the 1H chart.

[nanningbob]

Same type of trade on the 4H chart. Can go for bigger profits here. Combining the 5.1 EA from my 10.0 series instead of pending intrigues me. Remember the 5.1 EA works on any TF so you can go to any TF to catch a retracement big enough to reenter a trade. So if the trade doesnt look good on the 4H you can try the 1H instead or 30 min. As long as you follow the red line direction versus the Pivot line. I like the look of this with this system. Hmmmmmmmmm

[nanningbob]

What would really make this screen really clean looking is the open and pivot lines in a separate indicator. All you need to know is, is the red above or below black, they dont need to be on the screen with this set up.

[nanningbob]

It could look like this. Neat clean easy to read. 4H chart

[nanningbob]

This is what it would look like on a 1H chart. Interesting. Now you guys can see what I go through whenever I develop a system. I like the looks of this also. Anyway thanks for the fib TP. I think you will see some real possibilities here. Sorry to tease you guys like this but I have to go to bed. I got to get up in 6 hours for class. Dang I wont sleep well tonight thinking about the suggestions that came today.

[thelearner]

I kinda like to know the pivot line price though more clutter on the chart but more informative IMHO.

[sini]

hi,

I need help, do you know any Broker with GMT +4 or GMT +3 server time?

Thanks

[atharmian]

Bob,

Another great combo thanks to the Fib guy here.
Fibs have been used for long as exit/entry and seem to have more clout than pivots in the industry.

Can you kindly attach the 5.1EA/indy and the 2-window template you posted?
Me thinks this forum should be renamed the ForexIdeaFactory !

Cheers,
Athar.

This is what it would look like on a 1H chart. Interesting. Now you guys can see what I go through whenever I develop a system. I like the looks of this also. Anyway thanks for the fib TP. I think you will see some real possibilities here. Sorry to tease you guys like this but I have to go to bed. I got to get up in 6 hours for class. Dang I wont sleep well tonight thinking about the suggestions that came today.