Time Bomb Tim - page 2
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The chart above is on 1 hour chart.
Do you use 1h TF also?
Time Frames
The chart above is on 1 hour chart. Do you use 1h TF also?
I am considering H1 for manual Trading. The EA needs to be H4 (or user defined)
I have asked NewDigital to have a look at this thread. He has asked Igorad to have a look at it. I will be asking FireDave for his input as well as he coded a similar EA based on MTF CCI.
Right now I am sitting and testing some MTF indicators along with the current strategy to see if we can get a 5th Confirmation that supports confimation 1,2,3 and 4.
I've abandoned the 5min TF idea. In visual testing it is a whiplash nightmare, I don't have the nerves to try it live.
Please experiment with either H1 or H4. According to me H1 will provide more signals but the Exit strategy should be revised from H4.
Lets get back to optimising this strategy. It works but I need sleep as well.
Keep safe
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USD/JPY Direction
If I read the signals right - then it look like the USD/JPY pair is heading for a turn of direction.
The H1 TF is already showing signs of breaking down into a long position. If we look at the H4 then it is also testing the Close SMA.
This is the current pair that gives me and indication of a signal. It could also be forming a SMA resistance level, which is good because if it doesn't break thru then I can take a buy position when it opens on the next bar above the High SMA.
I the next few hours we will know
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5th Confirmation
Okay here is another indicator that might help with confirmation.
I include this for traders who are using this system manually. It'll act as a 5th Confirmation on the H1 TF.
It is the MTF(Multi Time Frame) CCI 14 indicator.
In summary it check the daily open/close relation.
If the previous day's close was higher than the open - possible up trend.
If the previous day's close was lower than the open - possible down trend.
I found it on a thread started by SteveNali. You can read the thread here.
Might help. I don't think we need another confirmation but maybe it let the cows sleep better at night
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5th Confirmation - Indicator MTF CCI 14 Daily
Here is the indicator.
Set the TimeFrame value to 1440 to get the daily lines.
The indicator sets it's daily levels at 00:00 server time.
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try this.. i'm at work so I don't even know if it works
It's an Honour
try this.. i'm at work so I don't even know if it works
DrGoodVibe
Thank you. It is much appreciated and I feel honoured that you took the time to do this.
Thank you.
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Update Page - Post 1
Hi to all who is following this thread.
We now have an EA to start testing the strategy.
I will update Post 1 in future with the latest developments.
I wish you all some happy testing and I'm keen to see the results
Let's get this thing started.
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Strategy Test Review
Okay I have run it in the strategy tester.
I have run it a few times on different settings.
In default mode it is going to kill us all. BUT - yes BUT, I am very optomistic.
I played with various settings and techniques that gives me the feeling that the order placing favours the main trend more. Most of the losses are from the opposing trade.
It's like growing a Bonzai, you have to guide the growth.
We just have to teach the EA the trading rules.
The first thing we need to look at is the second order placing after the first order has closed. This where alot of losses are generated when testing on buy only or sell only mode.
Objective 1: Only placed 1 trade if condition are met.
I am still trying to figure out what triggers the second and third trades above or below the High and Low SMA's
Objective 2: Some orders open on the bar after the condition was met.
I will compile a full visual Report and post it tommorow.
Once again thank you to DrGoodVibe for getting the ball rolling.
I appreciate it
Keep the comments and the pips coming.
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Need to alter EA
The EA strategy gave me another idea.
I actually love the fact that it almost kills the account. I have a theory that I would like to try. If I don't post here for a while - do please forgive me.
I missed alot of oppertunities today due to the fact that I had to take my brother-in-law to the airport. So please - if you have any contributions in suggestions or coding please add to it.
Wait for it!
The Source