I tested this indicator in 5 minutes on 4 majors
It works very well
signal are clear !!
Pereved, zifx25000! xD
I hope you this it will help in the real work.
I looked for a "Slow Stoch" within the MT4 indicators and didn't find one. The nearest thing I found is called "Stochastic Oscillator" and it has these settings:
Would you let me know if this is the correct indicator and what settings I should use? 4XTrader said 15, 5, 5
Is it used with MA Method= Exponential?
what about the price field, should it be Low/High or close/close?
Yes, You r right, what you had found:
Here is the set up :
%K period = 15
%D period = 5
slowing = 5
MA Method = Exponential
price field = Low/High
Thank you 4x trader, your help is much appreciated.
BTW, what is your personal trading style with this system?
From reading this thread it would appear you work with medium to
long trades...is that correct?
A few more points I would like for you to clarify, if I might
Entry Market ( Buy/Sell) when all EMA (5 , 18 , 35 ) are crossing with condition
- Buy if RSI > 50 , Slow Stochastic >40 in Time Frame 15 mnt n 1 Hour
- Sell If RSI < 50 , Slow Stoch < 60
- Stop Loss 35 pips (at above or below EMA crossing point in TF 15 mnt)
- Target Profit 120 pips
- Trailing Stop 30 pips ( with progress get in after price moving 45 pips, then increasing 5 pips each time 15 pips price movement)
- order 1 lot
Above, what does "crossing" mean? If it appears like a newbie question, well
that's correct, I am a newbie. Does it mean all EMA's have crossed above or below the price?
This statement from Maniek would seem to confirm this, however, notice he says "between" ....does it appear to you that he means all EMA's?
Am I right, 4xtrader?
I've noticed that on elihayun's indicator a signal is given when the EMA 5 crosses the other EMA's ....how should this be interpreted, who's right?
....but the indicator will display the xross between them with an arrow and with a sound alert
If We've got mix signal H1 n H4, the price movement about 50-70 % normally
for GBP/USD about 60-80 pips, EUR/USD about 30-50 pips. This is a very Important for us to get profits
I don't quite understand the statement above. It seems to mean one chart is telling you one thing, and the other, something else. Would you explain this?
Then, we take a look at H1 for day trend ( where is the price will going to, this pattern for the day which we trade, UP or Down) , in Hourly chart Slow Stoch signal needs 12 - 15 hours from 20 - 80 normally ( No Fundamentals announcement) if all signals n indicators on H1 n H4 , in the same directions , the price movement will very volatile.
Does the above statement mean:
The Slow Stoch signal needs at least 12 to 15 hours with no news spike disturbance?
What does the "20 to 80 normally" mean?
What does "if all signals n indicators on H1 n H4 , in the same directions , the price movement will very volatile" mean? I've always felt when 2 time frames are telling you something different, that means volatility. Why would 2 TF saying the same thing mean more volatility?
I know this is a long posting, but I do thank you if you would take the time to answer these questions. I also thank you for sharing your time and your knowledge.
I hope this will help u for a while to understanding this system.
Just put all indicators ( RSI, Slow Stoch, n EMA's lines) onto your charts according to the set up, do not ever using EA or custom indicator that already made ( for the time being) it might be help u to learn it.
Sometime the system is not suitable for anyone coz' need interpreting, experiencing, n so on.
I already mentioned before at this momment the market is in very quiet session , I don't know why so it is hard to see, especially for crossing EMA's method. ( EMA's crossed system doesn't work properly in the consolidation/sideways patterns).
I hope you have a little bit patient for this.
Hello, looks like a sound system.
Could someone provide all the indicators and settings in one location or direct to the post numbers.
I've already done all that you mention above. Furthermore, I've read this thread from start to finish at least 10 times. You couldn't find a more dedicated student than me. I read a lot and normally don't ask many questions because I feel we should all do our part.
The questions I asked came after reading a lot. I know we have perhaps a half dozen languages represented here and we all do our best to overcome those limitations.
If you would reconsider and answer some of them I would be very grateful.
To all else: If you could help me with some of the questions asked above my never-ending gratitude goes to you too.
Can Codesguru or Nicholsien or Mohammed or Helkas please code this for the benefit of the people waiting to test it out?
Thanks in advance
I am running this EA , no trades yet,
If I attach the EA to a 15min chart but according to the strategy the
Sto and Rsi on the 1hr chart is also monitored.
Is this the correct way to put it, still newbie!
if anyone can verify or correct this.
rsi2 =iRSI(NULL,4,8,MODE_CLOSE,0); //1hr
Im not a programmer but ill try to help u?
You've a nice code, its very clean and simple to understand..
I've one question.. Whats mean the "4" in the code?
After the NULL its the timeframe, isnt it? Try put "0" or "60"...
I still and always learning mq4 but i hope this help u...
thank you Helkas,
It should be 60 for 1hr and not 4 .
thanks for pointing it out.