...wanted to run this idea past you. It uses different TF to confirm signals and make trades. What do you think?
works on 2 TF: a=H1 b=M15 OR a=M30 b=M5
step1: Ki Confirmation- TF(a) Ki signal is confirmed by either: a signal that has been confirmed on TF (b) OR a standard confirmation on TF (a)
step2: ADX(10) on TF(a) +DI > -DI
Step3: KI signal is buy on TF(b) AND 5,3,3 Stochastics K>D and Sto is out of the OB range.
Signal reverse on TF(a) OR reverse signal on TF(b) OR ADX on TF(a) -DI crosses up over +DI
I`m not Kalenzo, but the idea is very good!
I don`t post a chart.....I`ve looked for myself and it looks very good
I am glad you likey! Here are some examples of the system during trending and non-trending conditions. Looks like a good start to me
BTW sorry for the crappy illustrations
Thanks for your advice, the idea is good but, we should confirm the lower frame by higher frame. We can confirm m5 trade by m30 trade not m30 by m5. And the problem with adx is that it is laging indicator, so sometimes u will have an KI signal, and no confirmation from ADX u will not enter it and a few bars later ADX will confirm that signal, and there is a question : do u take it? Of course u can watch adx and watch a few bars back for signal.
Anyway, the idea is good
First I want to say that the situation I find a little bit frustrated . This I wished we could test ideas in this way:
`Easy`backtesting of the ideas from 2002-2004, 2005 up today running the EA with optimized parameters and then forwardtesting. So we could get a first and a second picture and we would know: Is it better to trade long timeframe in a short, short in a long,ADX or not, BB Stops helpfull and so on.
I think so because over short or long some people could be burned out of programming and testing again and again....
Ok..Nick what had you done in the morning with GBUSD?
-- My picture is only to show you the actuell situation --
Please can you give me your indicator Max Bars?
Thank a lot
Yes and please rename the indicator for your folder
I have not been testing the system...Nick what had you done in the morning with GBUSD?
I have not been testing the system... Your chart loks Good! So, did you close the trade after the up signal on M5?
...i just saw your other threads and will answer them here as well. The pic with M30 M5: As long as the signal was up on the M30 you would go long when indicator was up on M5 and close trades when the indicator was down. I am not sure which method is more profitable. I coded an expert to follow the rules that I am experimenting with, but it won't backtest for some reason. When it trades realtime it takes a long time to process because their are so many indicators to calculate and so many instances and expressions to recalc... and so on. It is a work in process and I will have some time this weekend to code your 'mutant' idea.
My motive with these rules were to cut down on many of the trades placed during the choppy conditions as possible. With the lagging indicator, it would be an extra confirmation of trend before entering the market. I am not as experienced of a trader as you though. Most of my experience is of scalping, and hanging on to trades for longer than 10 minutes is somewhat new. How would you propose that we make trades on heavy trends and limit our exposure when non-trend?
Also, why would you not want to confirm the '0-bar' (non-confirmed) signal with a confirmed signal on a lower TF?