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| Author: | nanningbob [ Fri Apr 04, 2014 9:45 am ] |
| Post subject: | 10.7 |
THIS IS MY FINAL VERSION OF 10.7. IF YOU HAVE ALREADY READ PAGES 1-3 THEY STILL GO WITH THE SYSTEM. ON PAGE 4 I EXPLAIN BRIEFLY THE CHANGES. THE 10.7 READS REMAIN THE SAME BUT I ADDED TWO MORE KINDS OF TRADES. EXTREME TMA TRADES IN RANGE TIMES AND CROSSING THE DP WHICH I ALWAYS HAVE USED. I ALSO PUT BACK THE 10.4/10.2 WEEKLY S/R BUT THEY ARE IN BARS NOW INSTEAD OF LINES. MAKES THE SCREEN NEAT AND CLEAN. MANY THAKS TO ELIXE FOR MAKING THE NEW BARS. A BRILLIANT PIECE OF WORK. 10.7-10.10 INDIES DO NOT CHANGE. THIS IS MY FINAL TRADING SCREEN I WILL USE. IF YOU WANT TO TRADE LOWER TF I RECOMMEND SLOW KEYS RIBBON SYSTEM. NANNINGBOB APRIL 4, 2014 JUNE 8, 2014 10.7 is going to be different. It is designed to be used with other systems. Simply put its going to give you signals to buy/sell and then you act on those signals. It can be mixed with other systems because it is one indicator on the bottom of the screen that will kick out buy/sell trend, buy/sell countertrend, signals. The higher the time frame the more patient it will be and you will need to be but those signals will be very solid. The lower the TF you will still get great signals but some of them will just not go anywhere. That is the market. Included also will be closing signals. There will be several choices, like scalping in which the signal will come to TP somewhere in the 5-15 pips range. There will be a medium TP which will work during a trading day. The long term signal will be based on the old CSS of 10.2. When the angle of the TMA slows to a certain point it will alert you to take your profit. 10.7 is not an EA and does not trade for you. What it will do is determine the direction of the market for that time and then let you know. 10.7 is not a replacement to previous versions but is meant to work with previous versions enhancing their entrances. You can use it with Capt. Jacks naked screen. It will give you a signal and you can enter or exit using this method. You can use it with any of my systems all the way back to my 4.0/5.0 Counter Trade systems at FF to the 10.2, 10.4, 10.6 system here at FF. You can set this up with AL's Extreme TMA and find it helpful. You will see what I mean as I explain it. I will also have a 10.7 and 10.8 system to go with it. 10.7 will use the 60MA with ATR bands along with TomDemark's trendline method. Really effective. 10.7 is set for trend trades only. 10.8 I am going to trade just in the direction of positive swaps. A year of trading with positive interest over a year will add up. That means I will CT trade when they are going against the trend and trend trade with the trend. 10.9 will only use daily charts. The simplest trading method of the bunch. Get a signal, enter and stay until the signal changes. If you get it right you will add to your positions like professional big time traders do. I have one account set up just for that with a broker. So far my experiences with that has been very good. So lets get started. 10.10 is the same indicator as 10.7 but has the counter trend CT trade option turned on. So you will be able to trade both ways. JUST A NOTE ON THE STO INDI: The Sto is not based on the opens but the STO as it relates to the last 2 candles. Which I guess probably on a daily chart may work out that way that it is similar to the open. It is not intended to be. I dont know the Math behind a STO all I know is that it is the about the quickest to respond to price movement. If you just traded the STO alone it always left too early. I used that feature to forwarn a slower SLO indi. 7.2.2 so it is set on SMOOTH to get it to slow down. Quick ones for warnings slower one for entrances. Then the crazy idea came up to use that to show a higher TF going before a lower TF. So even though it is jumpy you still wait for the other signals to come into play. To me as long as I have the CSS on my side I am in good shape other than being patient. It is designed to be super sensitive so you cant blame it if it is doing its job. The D2.1 and W2.1 are suppose to be jumpy and quick on the trigger. They are your first warning in most cases that a potential move is forming. UPDATE #2. This folder includes all updates into one folder. Inside you will find 10.7, 10.9, and 10.10 templates and indis and also the most updated scripts. This allows me to keep my updates in one location so I can keep better track of them. SlowKey has posted the Ribbon system here: http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3589 SpiderX has a dashboard for 10.7 check it out. http://www.stevehopwoodforex.com/phpBB3 ... &start=170 For EA developments in 10.7/10.9 please go to this thread. http://www.stevehopwoodforex.com/phpBB3 ... 753#p90753 http://www.stevehopwoodforex.com/phpBB3 ... =37&t=3561 _________________________________________________________________________________ |
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| Author: | nanningbob [ Fri Apr 04, 2014 10:10 am ] |
| Post subject: | 10.7 |
To be honest, I was very happy with 10.6. I was consistently making money, increasing my account, I had no reason to change. In a sense I really dont need to do this. The problem is I like breaking new ground. King Solomon once said: "What has been will be again, what has been done will be done again; there is nothing new under the sun." To be honest I have never seen anyone try this before but I am sure someone has, I just dont know about it. I have seen dozens of MTF (multi-time-frame) indicators and people send them to me once in a while. I once paid a guy 50 bucks to code me a MTF stochastic 7 years ago. I didnt know about Forex Forums and you could get free indicators. I thought I had an idea someone else hadnt tried. (yes we are so naive when we start trading). So as I was looking at yet another one this thought hit me and I said to myself REALLY?? so I tried it, threw the STO7 on top of it and got real excited. I called a couple of my trading friends and Milanese and said look at this. Milanese dropped everything and for 1 week he has been furiously coding this thing together. Man what a truly selfless individual. The others tried a very rough version and they got some really good results. Here was my thought and here is a pic of that original idea. What would happen if we made a weekly or daily indicator that would move faster than a 4H, daily or lower TF indi did? In other words the high TF indicator would move first showing us trend direction for that day or week and then trade into that direction. The weekly line is red and the STO7 is blue. The red line is very quick to change the STO7 is not but waits for the market to turn into the trend. This is what I saw. |
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| Author: | nanningbob [ Fri Apr 04, 2014 12:39 pm ] |
| Post subject: | 10.7 |
OK this cant be true. Can it??? So I went to the daily chart and this is what I saw eur/usd. The higher the TF the more accurate an indi is and the less it moves around. Really the weekly line moves faster than the daily STO7?? Yes! The 4H STO7 moves slower than the weekly sto??? Yes. No, no, no, something has got to be wrong. This just cant be true. I called my friends. We had a SKYPE chat. Look at this!!!!! They all jumped on it to test it. |
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| Author: | nanningbob [ Fri Apr 04, 2014 1:10 pm ] |
| Post subject: | 10.7 |
Alright then what about lower TF. Trade into that weekly line then using STO7 on the 1H. See what happens. GBP/CAD. Oh I forgot TP when blue line gets to the bottom on the 1H. |
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| Author: | nanningbob [ Fri Apr 04, 2014 1:27 pm ] |
| Post subject: | 10.7 |
gbp/usd 30M smaller profits...more trades. 15M and below TF are more difficult to trade but I am sure someone will figure something out. |
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| Author: | nanningbob [ Fri Apr 04, 2014 1:47 pm ] |
| Post subject: | 10.7 |
Not every trade is a winner. Sometimes you will enter and price just isn't gong to go anywhere. But that is trading. gbp/jpy had some nice 1H trades but also would have some losers and some that didnt go anywhere. So how do you prevent that. Well we will be keeping our CSS info page to tell us which currencies are moving the best right now. CSS 4H shows they were both same angle heading for each other so movement is limited. So CSS reads will still keep us in the hunt for the best pairs to trade. |
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| Author: | nanningbob [ Fri Apr 04, 2014 2:01 pm ] |
| Post subject: | 10.7 |
So why does it work so well? What is behind that red line? Well it solved a problem for me that I have looked at many times over the years and never found an answer to. The weekly charts are often full bodied candles. Once they head in a direction they stay in that direction and fill out your candle. So if you put the fastest indi on that candle and the candle finds direction then it sets itself and flattens on the top or bottom for you early in the week. WEAKNESS #1 in the system. Trading early in the week before the candle is set, it will move up and down sometimes on day 1 before it gets direction. Knowing this will prevent you from taking a bad trade. Monday/Sunday JPY session use something else to determine trades or just know the indi could flip early in the week. Using a fast indi does that but using a long term TF solves the problem of quick moving indis. I am not saying you cant use it at the beginning of the week just know the indi may not set itself right away. |
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| Author: | nanningbob [ Fri Apr 04, 2014 2:36 pm ] |
| Post subject: | 10.7 |
Let us take a minute and look at candlesticks so you know how this indi reacts within the different kinds. Here is a short lesson on candlestick patterns: http://stockcharts.com/school/doku.php? ... on_to_cand http://www.babypips.com/school/elementa ... stick.html Any candle with a body will work well with this indi. The ones you have to worry about are called hammers and doji, and spinning tops. Lets look at each one and the indi. Of course it does not mean each hammer is made by this kind of action but you will see that the up and down moves of Forex are still there. |
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| Author: | nanningbob [ Fri Apr 04, 2014 2:48 pm ] |
| Post subject: | 10.7 |
DOJI spinning top week. Gbp/usd now the ugly side of trading. |
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| Author: | nanningbob [ Fri Apr 04, 2014 3:04 pm ] |
| Post subject: | 10.7 |
SO lets add a filter. A daily fast moving STO . When STO daily YELLOW LINE and STO weekly RED LINE dont agree (both on top or both on bottom) dont trend trade. With the daily fast STO we filter out many bad trades. Because we use a very fast setting on the Daily STO and WEEKLY STO they will both almost always go first before the STO7. So by the time the STO hits its signal point they have joined hands on one side or the other. So you will see RED line bottom, Yellow line go to bottom and then STO7 third. Sometimes it doesnt happen that way but the alert indi will not show a trade until both daily, weekly, and STO7 agree for trend trades. |
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