XO_Method REVISED - page 14

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My 60M-chart........

This is my 60M-chart from where I take my cue for entries on the 5M. Everything revolves around the H1 and H4 charts for me, hence my posting this chart here.They help me decide the DIRECTION of the expected trades.

I have zipped the entire set-up for convenience and it also includes a screen-print to show you what it should look like.

I wanted to use the MACD for research purposes and therefore had no extra space for it other than loading it in the RSI-window. So, please forgive me for “cluttering up” the RSI-window, but it serves a purpose at least for now.

Personally I feel it is pretty self-explanatory and I urge you to look back into the last couple of months to see how accurate it is. Should you have any questions, feel free to ask or advise.

I would appreciate your comments (and improvements) on this chart even if you do not trade the XO-method. (Incidentally, the XO in use here, does NOT repaint for those who want to know).

Best wishes.

Files:
xo-method_60m.rar  72 kb
 

Great thanks Valeo

I will wait 2 or 3 days and trading it live to give any comments.

Thanks a lot !

 

Dear Valeo,

After 3 days of live trading with the XO 5, i banked my daily pips as always, it is great the indicator works good and it is a space saver so great thanks

I will study your 1 hour chart as well, and would like to thank you for your contibutions always appreciated

 

XO 5 Method Alert

Is it possible to add an sound Alert with XO 5 gives buy/sell signal?

 
benstevens:
Is it possible to add an sound Alert with XO 5 gives buy/sell signal?

Ben, that is unfortunately out of my scope as I am not a programmer, but I am sure if you ask the guys over at the Thread specialising in Alerts / Alarms, they will be kind enough to do that for you. If not, let me know and I can approach one gentleman who is excellent, but very busy. He has yet to refuse a reasonable request and has helped me beyond call of duty.

Best wishes.

 

Hi guys,

I am new to this XO method. I've downloaded and installed the files from the first post, and I'm using the latest template from here:

https://www.mql5.com/en/forum/176163/page9

I've read the rules from the first page, and think I pretty much understand most of what's being said. I like the decent number of conditions for entry. I have to thank Valeo for producing this system, and all the programmers who created/modified the indicators.

I have a couple of questions. I guess my ignorance is gonna show here, but here goes...

The rules for the Stochastics part of the system say:

"The Stochastic set @ 13/4/8 is not "overheated" (>85 and <15)".

I get that part, but what I'm confused about it the fast moving Stoch in the background. What is the purpose of that? Also, there are up and down arrows appearing on the Stochs - the entry rules mention nothing about these arrows. What is their significance? Plus, I do not see any 85 or 15 lines on the Stochs. I just see, 5,15 & 75,95. What is their relevance? Do I need to manually add the 85 and 15 lines?

Many thanks!

 

I am sorry, I made a mistake.........

ValeoFX:
Here is the XO-5 requested by BigJoe. Reason why is that it will replace one oscillator and therefore fewer windows below the candles.

Secondly, I am convinced that it works as well as the 4TF_XO in generating signals as I have been trading it live as mentioned.

For your consideration however, I feel that we cannot wait for the H4 or 60M-charts to close before trading if everything else is in agreement. Therefore, the KirPER settings are slightly different to what I proposed earlier, but it seems to generate better "quality" signals. On this XO-5 the TFs are obviously from 5M to 240M and the KirPERs are therefore 6.5 / 6.5 / 6.5 / 4.5 / 4.5 where the last 2 represent the H1 and H4 TFs.

I want you to know that I have only changed my settings over the weekend and have therefore no real-time data other then this morning's trade where I banked +20 pips using the new settings.

I will understand if you feel it to be "risky", but bear in mind that I have used the KirPER settings of 4,5 for 12 months on the H1 and H4-charts before I changed it to 6.5 which is a better setting if you trade on the H1 chart or H4 chart for that matter.

I am NOT including a new Template here as many of you may want to try out the XO_5 first, but the Oscillator is attached with thanks to my friend Gerhard (DayTrader)

Your comments and real-time results will be much appreciated. I will also post my 60M-chart in a while today.

Best wishes.

Best is to rather test the change in settings before one posts them and that has happened to me last month. I am sorry to say, but the faster settings on the H1 and H4 is erronous! It created more "false signals" and I have had to revert back to the settings we had before - I guess this is an example of GREED!

So, I changed my settings back to KirPERs of 6,5 on all the TFs. I run 5 different settings 24/7 and I am now convinced that the original settings are better.

I would like to add though that the TEST panel runs with WHC; Integra and MIG and there are differences. So I suggest you take that into consideration, but in general the 6.5 settings come out best on these servers.

Apologise for any inconvenience caused.

Best wishes.

 
Files:
tsd_60m_chart.gif  54 kb
 
fx_geezer:
Hi guys,

I am new to this XO method. I've downloaded and installed the files from the first post, and I'm using the latest template from here:

https://www.mql5.com/en/forum/176163/page9

I've read the rules from the first page, and think I pretty much understand most of what's being said. I like the decent number of conditions for entry. I have to thank Valeo for producing this system, and all the programmers who created/modified the indicators.

I have a couple of questions. I guess my ignorance is gonna show here, but here goes...

The rules for the Stochastics part of the system say:

"The Stochastic set @ 13/4/8 is not "overheated" (>85 and <15)".

I get that part, but what I'm confused about it the fast moving Stoch in the background. What is the purpose of that? Also, there are up and down arrows appearing on the Stochs - the entry rules mention nothing about these arrows. What is their significance? Plus, I do not see any 85 or 15 lines on the Stochs. I just see, 5,15 & 75,95. What is their relevance? Do I need to manually add the 85 and 15 lines?

Many thanks!

FXG, I apologise for not responding any sooner. The arrows on the Stochastics, is just my indicator built to show when the crossing took place - I like the visuals. Nothing more to it and when you scan your chart, it "jumps out" at you.

The fast moving 5/3/3 tells you what is happening inside the present trade direction, so when it moves against the longer one, just be aware that a retrace is in place and you have to sit it out.

As far as the levels are concerned, I have learned something this past month from experienced guys in the Stochastic field. This one trader called Spudfyre over at FF, uses the Fib-levels 76,4 and 23,6 for his levels - You can find his Thread here:http://www.forexfactory.com:80/showthread.php?t=22105

I am a strong believer in Fib-levels and follow Alan Oliver's work from "Tradingwithgods" in Australia. He is excellent and he recommends 78,6 as a level in stead of 76,4 but it may just be symantics for the less informed. So for what it's worth, my levels have now changed to 78,6 (and if your chart does not accept the decimal point, just use 78) and 23,6 (23). Very interesting theory from this Trader and how he has studued the Stochastics and still spends 2 hours a day just watching the Stochastic's behaviour!! That's dedication for you!

I will Post his observations in a post below so that it does not "get lost" among all of this as it is rather good reading material.

Trust this answered your questions, FXG.

Best wishes.

 

WOW

This stuff with the mtf stochastics is very very interesting !

Thanks a lot Valeo to point us.

The idea of the fib levels in the stoch is AWESOME !

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