10.3 SCALPER/RANGE TRADE SYSTEM

[disbellj]

Bob,

Yeah I got the printed rules.

Note: Because I can't remake an H4 candle without making an offline chart with a period converter script, then using my indicator will be stuck to H1 and below. The rules as I see it and as I've coded it don't matter if on H4 or H1 since we're viewing pivots from even higher timeframes. But for choosing the right bar in the middle of a criminal's day to begin the correct Forex day, then we must stick to H1 or lower.

BTW, I don't see it as 10.2 and 10.3 since you combined them. I just see it as 10.3 trading rules based on DO,DP,WP, and MP positions, and setting TP to DR2/DS2 if trending or DR1/DS1 if ranging (trending/ranging defined by you per how pivots are stacked).

Just finishing up the SL, TP, R:R calculations with help from a Exact tool xls spreadsheet.

Here's what it looks like.

Kindest regards,

Don

[nanningbob]

I see now. DO is not used at all in EAs.

Bid vs 5 LWMA shift 1 Open is used in one EA, and D1 1 SMA Open vs DP and Bid vs D1 1 SMA Open is used in the other EA.

Guess DO is not used. So really do you want me to go by the rules printed on chart, by the rules in one EA, or the rules in the other EA? 3 sets of rules makes me disagree that not much has changed. I would like clarification if you don't mind.

D1 1 SMA Open is not in template BTW.

Kindest regards,

Don

If the MA average is 1 and you have it on open and you set the period to D1 that is the daily open. The code says if the daily open (1MA set at open on day candle) is greater than the Pivot line and the bid is greater than the open enter a buy. That is the same thing as opening at the daily open. See the code below.
Var1 is the Daily Pivot and Var2 is the Daily open The template uses the same logic the daily open and the 1MA period daily set at open is the same thing as the daily open.

Var1 = DailyPivot;
double Var2 = iMA(NULL, PERIOD_D1, 1, 0, MODE_SMA, PRICE_OPEN, 0);

RefreshRates();
if(Var2 > Var1 && Bid > Var2)

[nanningbob]

I see now. DO is not used at all in EAs.

Bid vs 5 LWMA shift 1 Open is used in one EA, and D1 1 SMA Open vs DP and Bid vs D1 1 SMA Open is used in the other EA.

Guess DO is not used. So really do you want me to go by the rules printed on chart, by the rules in one EA, or the rules in the other EA? 3 sets of rules makes me disagree that not much has changed. I would like clarification if you don't mind.

D1 1 SMA Open is not in template BTW.

Kindest regards,

Don

If the MA average is 1 and you have it on open and you set the period to D1 that is the daily open. The code says if the daily open (1MA set at open on day candle) is greater than the Pivot line and the bid is greater than the open enter a buy. That is the same thing as opening at the daily open. See the code below.
Var1 is the Daily Pivot and Var2 is the Daily open The template uses the same logic the daily open and the 1MA period daily set at open is the same thing as the daily open.

Var1 = DailyPivot;
double Var2 = iMA(NULL, PERIOD_D1, 1, 0, MODE_SMA, PRICE_OPEN, 0);

RefreshRates();
if(Var2 > Var1 && Bid > Var2)

The 5.1 MA is an approximation of a trend line. Taking trendline breaks in the direction of the trend are very good trades. The whole mantra of forex is buy the dips in the UT and sell the rallies in a DT. The 5.1 allows you to do that. The DO/DP EA allows you to take trades at the break of the DO. Quite simple. Trade the trendline break or trade the DO break. Your choice.

[nanningbob]

The problem in the future is going to be when you change the chart to match NY close the EAs are not set to that system so they have to change to match new pivot lines. I will have to see you coding and see if I can convert them or not. It will not affect the 5.1 but the daily open EA wont be the same. Anyway we will work around it.

[surfandi]

Hello to everyone...this is my first posting here! first of all thanks to nanningbob and all people who develop this system and share their knowledge and coding skills!
till now i only readed here - because i had not enough time to trade and give any idea´s who could help the system!

few time ago i wrote an indicator who shows the average daily change in percent...the idea behind was find SL and TP levels for intraday trading of different pairs.

i think this is good for 10.3 because you can clearly see where price could go that day if it moves in the "normal range" and it shows adjustable SL/TP in pips.
I found that it´s the best to do the math with percent range from the price instead of pips like atr for example.

I hope you understand my english and you can use the indicator - if not i am sorry for making useless space of this great thread!

have a great day

[Faramirsen]

Today's results with my settings posted earlier - but I took take profit and big numbers.

Pips: 139.0
Average Win: 43.48 pips /
Average Loss: -15.68 pips /

Win Rate: 50/ 50 - but have still 2 trades running which are looking really good - guess i will net around 170 pips today.

[nanningbob]

After a really bad start for the week losing 9 of 10 and missing a day with internet trouble, I am almost back to even. 21 W to 24 losers. So I am 20 to 14 since, The last two days I have only set my trades within an hour or less of the euro open and USA open. Those are 14 to 6, so that is where I am having my best trades. I have another day tomorrow similar to the last two and I will be up for the week. So persistence is paying off. I also am trading larger lots because of the win/loss ratio and the pips won to pips loss ratio. This will make my account grow in a healthy way for the long term.

[atharmian]

Don,

The screen looks very good. Do keep up the good work.
And of course there ought to be options for turning on/off various columns like Volatility for those who don't need them. But the code should remain there for any future changes- who knows !

I am no coder but perhaps the indy structure ought to be a a number of options combined to form a certain trading strategy, as trading Modules. For sure there are more changes coming... so preferably the "old" work should still be saved (as enclosed in comments, maybe), since old might become new next week.


Bob,

It might be good idea if you have the time to include all changes/new ideas etc in your Post#1 with dates in red, just so people can track them and understand what is an optiom vs a change of strategy. That might help some of us souls out here, who until recently thought that DO was still (is) part of the main rules, and red line was DO

Regards,
Athar.

Bob,

Yeah I got the printed rules.

Note: Because I can't remake an H4 candle without making an offline chart with a period converter script, then using my indicator will be stuck to H1 and below. The rules as I see it and as I've coded it don't matter if on H4 or H1 since we're viewing pivots from even higher timeframes. But for choosing the right bar in the middle of a criminal's day to begin the correct Forex day, then we must stick to H1 or lower.

BTW, I don't see it as 10.2 and 10.3 since you combined them. I just see it as 10.3 trading rules based on DO,DP,WP, and MP positions, and setting TP to DR2/DS2 if trending or DR1/DS1 if ranging (trending/ranging defined by you per how pivots are stacked).

Just finishing up the SL, TP, R:R calculations with help from a Exact tool xls spreadsheet.

Here's what it looks like.

Kindest regards,

Don

[nanningbob]

I see now. DO is not used at all in EAs.

Bid vs 5 LWMA shift 1 Open is used in one EA, and D1 1 SMA Open vs DP and Bid vs D1 1 SMA Open is used in the other EA.

I believe you choose the buy or sell EA based on your observed order of DO and DP. The purpose of the last pair of EAs is to allow you to enter after the initial retracement without having to sit at the screen all day.

Guess DO is not used. So really do you want me to go by the rules printed on chart, by the rules in one EA, or the rules in the other EA? 3 sets of rules makes me disagree that not much has changed. I would like clarification if you don't mind.

D1 1 SMA Open is not in template BTW.

Kindest regards,

Don

There's a downside to doing any coding for a system that isn't complete -- it's very difficult to hit a moving target. You need to be aware and accept that there may be changes again tomorrow or the next day or the next... as Bob has more time to deepen his understanding of what he has presented to us. He may even come back and say that there isn't sufficient edge and he is going to put this method on the shelf for a while.

The point is, if ambiguous or changing requirements frustrate you, you may want to look at another project to occupy your coding time while this method continues to evolve.

George

The basic system is set, it is determining how you want to trade it. Dont confuse the two. 10.3 is an extension of 10.2a by adding the daily pivot and daily open to the system. This allows us to trade ranging and scalping times which was not part of the 10.2a package. Don has a great indicator built and on one screen you will be able to see everything at once. I think if it does three things it will be a diamond. Is the pair trending up, trending down or ranging based on the 3 pivots and open. He has also added other dynamic functions which can be very helpful.

1. This indicator gives you an idea of whether to go for bigger profits or smaller profits.
2. Which pairs to concentrate for trading, which ones offer the best win/loss ratio.
3. Then decide how to trade that pair. Do you want to enter on the break of the Open or break of the trend line. Those really are your best two choices when deciding to enter.
4. You can trade manually using pending orders or trade using the EAs which will enter the trade, set up SL and Profit, and move your SL up with price movement. I like using the EAs then I can set up 10+ trades. Some wont enter, Some will enter and reverse. Some will run a little and reverse and then you get that couple of trades that run out and make your day.

Daily open is on the template, it is the white line I highlighted it for you. Make sure you have the 1.0 Daily 1MA in your indicator folder it is the white line on your screen.

[Fable]

Bob,

Here's what it looks like.

Kindest regards,

Don

Damn' that looks like really nice.
Here some encouragements to keep up the good work !

Best regards,

Fable