Subthread: Dolly 2nd Clone Project - page 9
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So you use Buy/Sell Stop instead of Buy/Sell Limit, don't you? My time zone is GMT+7 too
Today Dolly's GBP/USD Buy Stop-1 @1.9642, Sell Stop-1 @1.9602, the price now is at 1.9730, trend is bullish, so how can we use this Buy Stop price since the price is at 1.9730 now? What time Dolly give new Buy/Sell Stop Strategy because every morning (in GMT+7/WIB) when I saw at Dolly Graphic, both Buy Stop and Sell Stop can't be used because the price has been higher or lower than that ?
Please give me some guides again. Thanks!
PS. Just for confirmation, Europe market open at 7am GMT, London open at 8am GMT and US open at 13am GMT, right?
Rgds,
PierreSo we have the same time zone here.
I usually start my trading at 6 AM, at that time all the currency will be exactly at open line, then put your straddle. If the line is already near one of the zone (buy or sell zone) then you must wait until it hits and place order, or you just forfeit your trade and put sell/buy stop on other currency.
One more thing, you should try it for yourself at least 1 week and I bet you will get a better understanding by doing
So we have the same time zone here.
I usually start my trading at 6 AM, at that time all the currency will be exactly at open line, then put your straddle. If the line is already near one of the zone (buy or sell zone) then you must wait until it hits and place order, or you just forfeit your trade and put sell/buy stop on other currency.
One more thing, you should try it for yourself at least 1 week and I bet you will get a better understanding by doingHi Ancoll...do you mean Dolly gives new Buy/Sell Stop price every day at 6 am (GMT+7) ?
Thanks!
I modify Clock 1.2, now show spread and auto summer time.
Any chance of a clock to show contdown to zero for each opening then change to countdown to close?
Trailing
Hi guys, i think dolly is awesome system, but it need ideal trailing stop
to increase profit factor. I attach some trailing experts, please look at it.
Dolly Recap
Dolly links:
CJA - original Dolly v10 page 82, post 813 thread Dolly system
https://www.mql5.com/en/forum/trading_systems
HYMNS - page 1, post 3 dolly_graphics_#10.rar (27.0 KB, 92 views)
https://www.mql5.com/en/forum/175809
Little modify hymns version workspace - as to order description with SL first and TP the second.
It seems to be confusing to me while entering an order - in the window it is coming in reverse order.
FRANTACECH - page 1, post 9 Dolly v10_reverse_SL_TP.zip (41.6 KB, 411 views)
https://www.mql5.com/en/forum/175809
GUPPPY - GMMA technique
https://c.mql5.com/forextsd/forum/17/myversionofguppy2_resize.gif
http://tradermike.net/2004/05/another_look_at_multiple_moving_averages
http://www.market-analyst.com/kb/article.php/Guppy_Multiple_Moving_Average
http://www.guppytraders.com/gup329.htm
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Pivot V Open
Another day and the results were very even for both setups although your 1st trade with the standard Dolly would have been a BULLISH CORRECTION trade while the OPEN Dolly's 1st trade was a standard BUY AREA to 1st SELL TARGET trade followed by a BEARISH CORRECTION trade as price bounced off the Daily Pivot, i think the Daily Average areas are more accurate turning points on the OPEN version as well, Also worth noting was that price reversed after the GBP NEWS at the 4/8 MM level just above the Daily OPEN on the M15 chart and also look at the times that price moved using the Dolly Trading Times indicator.
I have posted the Dolly OPEN indicator for those of you who might want to assess it and compare to the standard Dolly performance, i have named it the Open Graphics to try and avoid confusion for those who might join in this thread at a later date. If enough people use this indicator and it stands the test of trading in its own right then we should probably start a new thread with it.
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https://www.mql5.com/en/forum/trading_systems
Dolly & MM by CJA
EURO/USD has dropped very quickly from 7/8 to 1/8 level on M1 and bottomed out on the 1/8 on M5, M15, M30 & H1 timeframes currently as per screen shot of M15 the M1 has just hit the 7/8 and reversed and could bounce off the 4/8 M1 & 2/8 M5 & M15 at 1.3275 meaning an expectation of price moving up to the 4/8 area on the M15 timeframe @ 1.3305 as usually if price drops through 5 levels quickly as the EURO did i would expect at least a 3 level reversal. The key is to watch the 4/8 M1 and 2/8 M5 & M15 and higher timeframes as each timeframe closes above 2/8 it confirms the upward rather than the downward move. The Higher timeframes on G#MACD still have downward signals although M15 has just changed up so a Margin of upward pressure is starting to show. Of course consider any impending News that may influence the short term move and factor that in.
Hope this is of help
Well price got stuck on the 3/8 M15 and tested it several times this shows downward pressure to stay below the lower trading range then price headed down and retested the 1/8 M15 and the -2/8 on the M1 I would like to see M1 reverse off the mid point of -1/8 -2/8 to be convinced of a good move up, a reversal on M1 from this level usually runs back to +1/8 +2/8 which is currently the 1.3295 area M5 has bounced off the 1/8 as has M15
& H1 the H4 Timeframe is sitting just above 5/8 the top of the trading range so for price to break down through here would show a change in trend G#MACD still showing downward pressure so lets see where the H1 candle closes above or below the 1/8, has just closed above the 1/8 so a reversal may be on again. M1 & M5 G#MACD have just both turned so a small run up is on the cards @ 1.3264 entry even if price ultimately runs further down you will still make something or you may get in early on a good move, set the stops tight and lock the breakeven as soon as you can, this is how i treat the entries at the Dolly levels, already price is at 1.3271 and climbing so i can lock in 5 pips and let it run its course.
Price ran up for a solid 50 pips to 4/8 M15 and reversed off the top of the trading range at 5/8.
Note how price has reversed off around the mid/point between +2/8 & +1/8 on the last M5 chart - this usually shows a reversal to at least the 4/8 if not all the way back to the -1/8 & -2/8 area M1 0/8 is @ 1.3275 so expect a bounce at this point, also the G#MACD M5 has confirmed the move down however it is leveling off now with no separation or angle so price could halt at the 4/8.
I realise this is not trading to the Dolly BUY/SELL areas but hope this will give some idea as to what you need to look for as price approaches the Dolly areas.
https://c.mql5.com/forextsd/forum/16/dolly_mm.gif
https://c.mql5.com/forextsd/forum/16/mm.gif
https://c.mql5.com/forextsd/forum/16/mm2.gif
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GUPPY MULTIPLE MOVING AVERAGE ™
This indicator was developed by Daryl Guppy. It is fully explained in TREND TRADING. Captures the inferred behaviour of traders and investors by using two groups of averages. Uses fractal repetition to identify points of agreement and disagreement which precede significant trend changes.
APPLICATION
Applied to understand the nature and character of the trend. Used to assess the degree and extent of trading activity. Excessive trading activity can destabilise strong trends. Trend analysis enables more effective selection of appropriate trading strategies such as breakout, trend continuation etc. Can be applied to long side and short side trading. Can be applied to intraday trading. Also used for longer term investment style analysis.
http://www.guppytraders.com/gup329_files/image002.jpg
TACTICS
Join established trends at points of price weakness
Join established trends breaking to new highs
Trade breakouts using rally dips and rebounds
Trade downtrend rallies as rallies rather than trend breaks
Recognise trend breaks as they develop
RULES
Degree and nature of separation in the long term group define trend strength and weakness
Degree and nature of separation in the short term group define the nature of trading activity.
Degree and nature of separation between the two groups of moving averages define the character of the trend.
Compression shows agreement on price and value.
Compression of both groups at the same time indicate major re-evaluation of stock and potential for a trend change
Trade in the direction of the long term group of averages
The relationships between the groups provide the necessary information about the nature and character of the trend.
Do not use as a moving average crossover tool
ADVANTAGES
Enables effective analysis of the trend environment
Improves selection of the appropriate trading tactics
Better understanding of trend strength
Effective evaluation of unusual price movements, such as dips and spikes
Effective understanding of trading activity and behaviour
DISADVANTAGES
Not effectively applied to trend less stocks
Cannot be applied to all trending stocks
Do not use as a moving average crossover signal
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A litle tips using dolly - hymns
Little tips using Dolly Breakout Strategy
https://www.mql5.com/en/forum/175809
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I think, Dolly and strategy Elder TripleScreen - it is solution.
Dr. Alexander Elder - Triple Screen Trading System
http://www.4shared.com/file/3405018/a18f2eed/alexander_elder_-_trading_for_a_living_pdf_.html
WSS Tutorial
http://rapidshare.com/files/7615615/WSS94_Tutorial.v.1-4.pdf.html
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GMACD Analysis Logic
hymns post #83
Could somebody give me an idea for logic to relabelling GMACD Signal with Analysis Trend base on your trading experience.
Overall (Daily) : current logic base on MACD H4 & D1
Current: H1 & H4 & D1
https://www.mql5.com/en/forum/175809
LAST UPDATED @ DEC 20, 11:15 GMT 1+
Hi guys, i think dolly is awesome system, but it need ideal trailing stop to increase profit factor. I attach some trailing experts, please look at it.
I want need Trailing with break even and TS on/off.
Switch On after defined pips profit
Break Even after defined pips profit
Is it possible?
thx
Hi guys, i think dolly is awesome system, but it need ideal trailing stop to increase profit factor. I attach some trailing experts, please look at it.
thank you. No info about how to use these trailing experts?
GMACD Signals Update!
GMACD Trading Signals (GMACD_Signals) With Trend Analysis.
Change Logs
- Version 1.0.2
- Add Trend Analysis. This analysis will tell you if trend is change
or trend correction.
Have and idea? Check post #83 and post your idea.
* temporary remove attachment
Another one trailing expert:
The expert works by taking profit out of a trade at various take profit levels. It also moves stop losses at designated levels. You have the ability to customize the following parameters:
First_Target: This is the first take profit target, in pips, that you specify.
Target_Increment: Once the first profit target is reached, the next target will increment by the amount specified by the target increment variable.
Close_Lots: This is how many lots you want to take out at each target. For example, if you have 10 lots, you can take 1 lot out at each of 10 profit targets, or 5 lots out at each of two targets. It's up to you.
Move_Stops: Set to true if you want the expert to move stops based on the First_Stop and Stop_Differential parameters. Otherwise, set to false if you don't want stops moved automatically.
First_Stop_Target: This is the amount in pips the trade moves before your stop loss is moved to the First_Stop level.
First_Stop: This will move your stop loss when a target, in pips, is reached. The number represents the number of pips from entry and can be postive or negative.
Second_Stop_Target: This is the amount in pips the trade moves before your stop loss is moved to the Second_Stop level.
Second_Stop: This will move your stop loss when a target, in pips, is reached. The number represents the number of pips from entry and can be postive or negative.
Use_Max_Loss: Set to true if you want to input your own stoploss and hide your stop value from your broker. This is the maximum loss you'll risk on the trade. It's irrelevant if Move_Stops is set to true AND Move_Stops was triggered.
Max_Loss: This is the maximum pip loss you'll accept on the trade. If set to 0, this function is disabled.
Magic_Number: You can use this to ensure the expert only manages trades with a particular magic number. This will allow you to trade the same pair using different systems without this expert interfering with the take profit points of the other trade(s).
@Nekronfx
thanks a lot nekronfx,
I need confirmation from others about your EA,
after that, I will update the first post with your EA