GBP 50pip need programmer - page 2

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erwin1680
11
erwin1680  

so to clarify if todays low is lower than yesterdays we only go short when -di goes above 20? thanks in advance.

donb01
234
donb01  
donb01
234
donb01  
Files:
adxdon.mq4 5 kb
panfee
6
panfee  

Hi Donb01,

Thank you for sharing your system. You just said you are using different ways to filter.

donb01:

I trade long and short as long as ADX has crossed from below. I am looking at different ways to filter the trades to possibly cut down more on the losers

Would you kindly tell us what ways they are? I'm always confused to filter the consolidation stage.

Best Regards,

Steve

dwyer
57
dwyer  

Hi Don

Thanks for sharing your system.

I can only trade from 2.00 am EST until about 6.00 EST. From your experience, are there sufficient trades during this limited time period?

Regards and thanks.

Mike

donb01
234
donb01  
profitmaker:
Hi Don

Thanks for sharing your system.

I can only trade from 2.00 am EST until about 6.00 EST. From your experience, are there sufficient trades during this limited time period?

Regards and thanks.

Mike

MIKE,

Yes there are but we will be better off if we can find a good filter if only trading half the session

Steve and Mike,

filters that I am looking at are: 1. definately data releases i.e. if data is good for GBP then do not short GBP and vise versa.

other filters I am looking at are CCI I am currently playing with parameters to find the best setting. will post when I do settings I am currently looking at are 50, 30 and 21

VERY IMPORTANT:

be very careful taking any trades with this in January as big traders are winding down their positions etc...

Last year January , Feb and Mar. were very bad months with this system. after getting 5 loosing trades in a row I ended up trading opposite direction of signal for +30 pips.

in other words when I got a signal to go long in Jan, feb and march I took that signal short with a tight stop of 10 pip above the high and a target of 30

hope this has not confused you

donb01
234
donb01  

Filters for GBP

here is one filter that may work. It will not keep us out of false set ups but will possibly show us to close a trade early at B/E or - a few

it is called FATL link to download is below

OK what we are looking at with fatl is where price is so if we get a signal to long the trade is ok unless price crosses the fatl line if this happens close trade.

The other thing with fatl is if we are in a trade and price keeps pulling farther away from fatl the trade is good and may go more than +50.

I will attach charts

on these charts the only line by price is the fatl indicator and is colored red

I am also looking at the Awsome oscillator as a possible filter but not impressed yet and have no rules

https://www.mql5.com/en/forum/172923

donb01
234
donb01  

Charts with FATL

the first chart is trades for today

the second chart shows a gap between price and fatl which is a sign of a good trade.

my new rule is when there is a gap like the one in the chart or a wider gap than shown in the chart I will not exit until price crosses the fatl in opposite direction. the trade in the chart was worth 70 pips instead of 50

Files:
Hercs
2970
Hercs  
donb01
234
donb01  

Well here is a situation on 1/11/06 where closing a trade upon price crossing the fatl on a 5min. chart would have caused you to miss out on the full 50 pips.

in the chart there was a long signal entry at 1.7610 initial stop of -35 would be at 1.7575 (yellow line) the market crossed the fatl line and dropped to 1.7584 almost hitting our stop. then turned and went up to hit the +50 target of 1.7660 +

there was a second entry signal long at 1.7625 target +50 1.7675 but the market only went to 1.7669

so there is still some discression needed, the first signal would have given our target if we just followed the original rules.

the original system and rules work!!! with few false signals but if we can find a way to filter the false ones will turn a good system into almost perfect.

Files:
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