Planet Parade - ZigZag System

[Helg]

Hi, everybody!

I am new to write here but read regularly. I would like to share the general idea of my system. Only general - because one can easily advance it with his favourite indicators. The basic indicator is any variant of zigzag which usually goes with setup 12,5,3. I prefer the one which draws arrows instead of lines. I change the setup according to the volatility of the pair. For example, 55,2,2 for GPB/USD, 44,2,2 for USD/CHF and 34,2,2 for EUR/USD. The trade is ready when you have recent arrow on H4. Please note that even on H4 zigzag can still repaint itself. So you can open a trade with a stop-loss or just believe in good faith because even in trend such arrow on H4 is rather strong signal. Well, after you have a trade open, go to M5 and wait for the appearance of the opposite arrow there. Once it has appeared go to M15 and wait the arrow, than to M30 and wait the opposite arrow as well. Here the market usually takes the pause. It is advisable to place a break-even stop-loss. Well, as far as you can guess, the idea is to wait until all the timeframes build the same arrows in the opposite direction. That is why I have named it "Planet Parade" . If you missed the beginning of such movement, you can join it looking at smaller timeframes and considering the possibilities. Here is where you can use your favourite indicators. More over, you will certainly need them to draw any variants of support-resistance - to know how far the zigzag can repaint. And you will need indicators for possible inside swings. For example, supersignals are rather good here. Thus, if you are waiting for a swing and have a supersignal on H1 but there is no supersignal on H4 you'd better wait, it can easily move further on H1 in such situation.

I will try to give an example on the samples attached. You can see the last blue arrows on both pictures when the price was about 1.2380. This is the exact start. Than there is a red arrow on H1 but nothing on H4. It can mean a swing but in general up-movement is not yet ended. And here you will need other indicators to check it. This is the fresh situation of today. I was long from 1.2410. Part of my indicators said that the possible movement could be up to 1.2475-1.2483. Another part said that it can be up to 1.2510 and may be further, can't see for the moment. Since the third part said that there are strong levels on 1.2496, 1.2497, 1.2498 (I would say the whole fence) I decided to take profit at 1.2487. Now, when I am writing this the bid price has already reached 1.2506. So you can choose where to go . One more advantage of the approach is that if you have a bad enter you can clearly see the possibilites - wait or take a loss.

Hope it can serve anybody . Best regards,

[fxd01]

AikeGvapa:
Hi, everybody! I am new to write here but read regularly. I would like to share the general idea of my system. Only general - because one can easily advance it with his favourite indicators. Best regards,

Looks interesting. Can you please post the indicator(s)?

Thanks.

[omelette]

fxd01:
Looks interesting. Can you please post the indicator(s)? Thanks.

The indicator in the snapshot is 'supersignals'. Some people still do not seem to understand that whereas some indicators can innocently - 'repaint the past' seems to be the favourite term - 'supersignals' DELIBERATELY uses FUTURE data to generate its signals. This indicator is completely useless and will only end up costing you time and money............

[Helg]

My set of indicators

Please note that all of them were found on this forum. There is one more indicator which I have lost in mq.4 version. This is Supres_MultiFrame. If somebody knows in which thread it is please remind me... If you use it together with Murrey Lines it is necessary to have two different screens or you will have a lot of hardly readable lines.

[Helg]

To Omelette

Sorry, the indicator in my samples is the zigzag variant. You are absolutely right that supersignals are often useless and in their last move they always correspond to zigzag. I tried to work with supersignals and had good profits and good losts as well (in trend). So I don't believe them much. It is just a reminder that it Can be a swing in the near future. More over, they often don't appear in time on H4, only 1 or 2 periods after. That is why I try not to take counter H4-arrow direction.

And I would like to repeat again: everybody should use his favourite indicators adequate to his preferences, and even to some extent useless indicators can be usefull if you can approach to them non-traditionally :-).