10 PIP System Need Help Making into Indicator - page 2

[Cox]

Simple and very good

Thx

[ntb131704]

Some problem

I just tested your system, then I find some fake signal.

Hope to make your system better.

Thks.

[Tommy]

This system looks good for the 5 minute time frame...but its not effective on a 1 hour time frame as it tends to signal trades just as the trend is about to retract...

It is very suseptable to whipsaws. What if we code it to give the signal on the close of a counter trend candle in order to catch some pips in the retraction? What I mean is this:

In a long term trend that you will see on a one hour down trend for example you will get say 5 bear candles then about 3 bull candles, then the downtrend will continue. So what if we try to catch the bull candles? We know they are coming, because thats how markets work. When the market is not ranging its 70% trend and 30% retraction. I admit its risky, and violates the theory that you should only try to enter a trade at the begining of a new trend..but I think it would be pretty reliable, and when I look at the chart it looks pretty good.

The formula would be simple...the indicator would watch for X number of either bull or bear candles in a row and then when it gets the first counter candle it signals the trade. So if you had an uptrend going you would catch the bear retraction...It would target 10 pips per trade. what do you think?

I should make this a seperate thread I know, and Im not trying to hyjack anyones thread here, but I wanted the opinion of those working on this thread's system.

Thanks for you time guys.

[Tommy]

This system looks good for the 5 minute time frame...but its not effective on a 1 hour time frame as it tends to signal trades just as the trend is about to retract...

It is very suseptable to whipsaws. What if we code it to give the signal on the close of a counter trend candle in order to catch some pips in the retraction? What I mean is this:

In a long term trend that you will see on a one hour down trend for example you will get say 5 bear candles then about 3 bull candles, then the downtrend will continue. So what if we try to catch the bull candles? We know they are coming, because thats how markets work. When the market is not ranging its 70% trend and 30% retraction. I admit its risky, and violates the theory that you should only try to enter a trade at the begining of a new trend..but I think it would be pretty reliable, and when I look at the chart it looks pretty good.

The formula would be simple...the indicator would watch for X number of either bull or bear candles in a row and then when it gets the first counter candle it signals the trade. So if you had an uptrend going you would catch the bear retraction...It would target 10 pips per trade. what do you think?

I should make this a seperate thread I know, and Im not trying to hyjack anyones thread here, but I wanted the opinion of those working on this thread's system.

Thanks for you time guys. Oh, and I just realized..we dont need to code it at all..we can use Brain trend for the signal..but an alert that tells us when the retraction trade is ready to pop off would be helpful.

[ctforexaolcom]

Thanks

I think that the ideas presented, this should be a great thread. Please keep up the good work!

CTGUY

[nicesurf]

Can you make money from the system ?

Nices

[optimu]

Ea

Please try this EA and tell me if it opens position corectly.

Regards,

Optimu

[1alen]

thanks

optimu:
Please try this EA and tell me if it opens position corectly.

Regards,

Optimu

thanks for this mt