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MNB 10.4 Streamlined by Snailbeard
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=2443		 Page 5 of 9
Author:  snailbeard [ Wed Jul 03, 2013 9:24 am ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
If we revert back to the H4 time frame, we get another story:
Firstly, One good H4 multi-signal entry occurs around the 24 April: RSI2 hits bottom then emerges;
candles cross and then close above the DP (daily pivot).

There is some price indecision between DP and the WP (weekly pivot):
I have been working on some Doji based exits - but lets not shoot ourselves in the foot by using it at the wrong time, I'm not sure about the best way to do this, however, I can measure CSS change - if strength is increasing then ignore doji exit signals; if strength is weakening accept doji exit signals.
And if strength is more or less unchanged then...?
Any thoughts on that?

Within a few bars of the RSI2 signal we get a second signal from the CSS crossover.
Then we get price crossing WP followed by closure above WP.
We also have a CSS confirmation signal from the black BDF (break difference threshold) bar.
All in all a pretty good entry with profits at TP1, TP2, TP3 capture the main move.

So in the context of H4, we can read H1entry signals as optional reentry signals into a H4 move.
We need to define a start and end for the H4 move.
The beginning according to crossover is 08:00 24 April and the end in simple terms is the reverse crossover on the 2 May but we don't want to be trading up in the tail end of the move.
The first warning signal could be the Doji candles combined with RSI2 moving down and CSS converging.
However, the converging CSS indicates weakening of the trend but there is still another 80 to 90 pips left to be collected.

If we use a fibonacci indicator between the start of the move and the close of the up doji, then measure the retracement which fails to touch or cross 23.6 and then the down tails are moving up towards E5: we can say that there is still an upward bias and another entry point and we get another target price at WP-R1 from the H4 chart. Also RSI2 was pinned at the bottom and we see some divergence in CSS.
This coincides with the H1-CSS crossover which occurs at 13:00 for an instant order, where as H4 pending could have been set and triggered at E5 several bars earlier.

If we are limiting trades we would not get H1 entry while the H4 trade is active.
The H4 trade would complete on hitting TP at WP-R1 on 1 May.
This means that H1 trade would be triggered the following day and is no more than a final scalp trade.
If we check the H4 CSS over the past several bars we can say that CSS is weakening.
Also if we can look in the recent history and find that a H4 trade completed
and we can also say the origin of the trade was 24 April and the final H4 exit occured at WP-R1
we could anticipate that we are due for a siginifcant retracement.
Author:  snailbeard [ Wed Jul 03, 2013 9:28 am ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
theforexedge wrote:Brian

Thanks for your insightful analysis...it's really helpful for me also with my live trading, and my attempt at trying to learn MQL albeit rather slowly. I have Streamlined2 on test and it's averaging around 0.5 - 0.87% per day, but last week due to my VPS it didn't trade. Is v2.0 the latest incarnation?

One indicator I'm playing with right now is Baluda's Global Market Trend, so not sure if it's worth some further analysis for trading..(see attached)

Jason
Thanks for posting these - I'll have a look when I get back from a short break.

The version I am working on is getting a bit complex and might be a while before there is an update.
Author:  theforexedge [ Wed Jul 03, 2013 12:01 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
Brian

Well v2 is working well and next week I'm going to try to do a bit more testing setting up for different currency volatility after going back and reading Bob's 10.3 manual.

Keep up the postings as its very insightful.

Jason
Author:  theforexedge [ Wed Jul 03, 2013 1:12 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
Brian

News Filter

I still think adding the option to close trades in profit / open before high impact news events / major speaks would be worth adding. I watched again today as the GBP PMI Services took out the profitable GBPUSD trade. Nothing watching a profit turn into a loss.

Jason
Author:  theforexedge [ Wed Jul 03, 2013 2:01 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
Brian

What threshold are you using for H1 CSS Pullback?

Jason
Author:  snailbeard [ Mon Jul 15, 2013 2:33 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
theforexedge wrote:Brian

News Filter

I still think adding the option to close trades in profit / open before high impact news events / major speaks would be worth adding. I watched again today as the GBP PMI Services took out the profitable GBPUSD trade. Nothing watching a profit turn into a loss.

Jason
I was thinking it would be useful to have a separate EA on its own chart which can evolve with features like this. I am not using my EA live and never would, but I might put real orders in if I thought the ones in a demo account look promising. Therefore, it would not help me to terminate live orders, hence the suggestion that a separate EA would be useful for this purpose and perhaps there is already something like it in the utilities section? Or perhaps it would not be difficult for a programmer to modify an existing EA to do this?

My current focus is on selection of entry points as there is a whole separate universe of analysis on optimum trailing methods and reasons to exit which might be independent or partly independent of the strategy used to enter a trade. In other words, one could use such an EA independently for more than one strategy rather than limiting it to a single EA. Further, since news spikes have nothing to do with our technical analysis, why not have an EA specifically to manage trades around sensitive times. If I understand correctly you require this because the brokers and liquidity providers can widen the spread to ensure your stops are hit faster than any EA can monitor and close a trade.

Members who have experience of high speed scalping for a few pips must know a lot more about this than me.

Are there any brokers/LPs that don't do this to their customers?
Author:  theforexedge [ Mon Jul 15, 2013 4:50 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
Brian

Yes I think evolving the EA to work along side a manual trading system might be a good direction as you pointed out..

I've just posted a reply in Baluda's indi thread about using Global Market Trend to add some logic to starting / stopping trading whilst the market is consolidating / retracing..

http://www.stevehopwoodforex.com/phpBB3 ... &start=570

Not sure if this is worth pursuing, but Paul is also going to make a MTF version..

Jason
Author:  MrLong [ Tue Jul 16, 2013 7:27 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
snailbeard wrote:
theforexedge wrote:Brian

News Filter

I still think adding the option to close trades in profit / open before high impact news events / major speaks would be worth adding. I watched again today as the GBP PMI Services took out the profitable GBPUSD trade. Nothing watching a profit turn into a loss.

Jason
I was thinking it would be useful to have a separate EA on its own chart which can evolve with features like this. I am not using my EA live and never would, but I might put real orders in if I thought the ones in a demo account look promising. Therefore, it would not help me to terminate live orders, hence the suggestion that a separate EA would be useful for this purpose and perhaps there is already something like it in the utilities section? Or perhaps it would not be difficult for a programmer to modify an existing EA to do this?

My current focus is on selection of entry points as there is a whole separate universe of analysis on optimum trailing methods and reasons to exit which might be independent or partly independent of the strategy used to enter a trade. In other words, one could use such an EA independently for more than one strategy rather than limiting it to a single EA. Further, since news spikes have nothing to do with our technical analysis, why not have an EA specifically to manage trades around sensitive times. If I understand correctly you require this because the brokers and liquidity providers can widen the spread to ensure your stops are hit faster than any EA can monitor and close a trade.

Members who have experience of high speed scalping for a few pips must know a lot more about this than me.

Are there any brokers/LPs that don't do this to their customers?

Hello Brian,

Here is a link that will you: http://codebase.mql4.com/source/24753

Just google for the library: MarketNewsLib.mqh

I use it on my EA chart to monitor the news and make sure I don't miss anything.

Best Regards

Andy
Author:  snailbeard [ Thu Jul 18, 2013 10:53 am ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
MrLong wrote:
snailbeard wrote:
theforexedge wrote:Brian

News Filter

I still think adding the option to close trades in profit / open before high impact news events / major speaks would be worth adding. I watched again today as the GBP PMI Services took out the profitable GBPUSD trade. Nothing watching a profit turn into a loss.

Jason
I was thinking it would be useful to have a separate EA on its own chart which can evolve with features like this. I am not using my EA live and never would, but I might put real orders in if I thought the ones in a demo account look promising. Therefore, it would not help me to terminate live orders, hence the suggestion that a separate EA would be useful for this purpose and perhaps there is already something like it in the utilities section? Or perhaps it would not be difficult for a programmer to modify an existing EA to do this?

My current focus is on selection of entry points as there is a whole separate universe of analysis on optimum trailing methods and reasons to exit which might be independent or partly independent of the strategy used to enter a trade. In other words, one could use such an EA independently for more than one strategy rather than limiting it to a single EA. Further, since news spikes have nothing to do with our technical analysis, why not have an EA specifically to manage trades around sensitive times. If I understand correctly you require this because the brokers and liquidity providers can widen the spread to ensure your stops are hit faster than any EA can monitor and close a trade.

Members who have experience of high speed scalping for a few pips must know a lot more about this than me.

Are there any brokers/LPs that don't do this to their customers?

Hello Brian,

Here is a link that will you: http://codebase.mql4.com/source/24753

Just google for the library: MarketNewsLib.mqh

I use it on my EA chart to monitor the news and make sure I don't miss anything.

Best Regards

Andy
Thanks for the link Andy, I have saved the code for later.
Author:  snailbeard [ Thu Jul 18, 2013 12:52 pm ]
Post subject:  Re: MNB 10.4 Streamlined by Snailbeard
Global Trends (4TF_MATrend.mq4)

An indicator I downloaded in the past has just rekindled some interest. Since we are talking of multiple time frames: This one shows the MA change for four time frames and a binary decision for each timeframe allows a variety of ways to interpret the 'lights' and if the EA keeps the previous state then we can also detect when any MA direction reverses.
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