HMA method 4hr TF
Interesting - the first thing that comes to mind is an old stock guru named Martin Pring... he has an indicator that he built called the Know Sure Thing or KST for short - it is a smoothed rate of change indicator... which is especially useful for entering and exiting on technicals because the KST actually combines multiple time frames and weights them exponentially - very useful / accurate signals for both entry and exit.
I have never looked into coding it for MT4... http://www.pring.com/ has more info in it. There is no charge for it or anything... because i don not think that it has ever been applied to forex.
stop loss VS Trailing Stop Loss
Hope this is helpful... I know that this came as news to me....
From InterbankFx.com site...
Set a stop loss first!
A common mistake among traders is to rely upon a trailing stop as if it were a stop loss. It is important to remember that a trailing stop is not triggered until a trade is positive the amount of pips the trailing stop was set for (+ 1). In other words, a trailing stop set for 15 pips does not become your stop loss until the market has gone at least 16 pips in your favor.
If the market were to immediately trend against your position you would have no protection in the form of a stop loss.
How does a trailing stop work?
Trailing stops are designed to lock in profit levels. Trailing stops literally trail along your increasing profit and adjust your stop loss levels accordingly. A trailing stop set for 15 pips will trigger once a trader's position is positive at least 16 pips. From this level the trailing stop will adjust pip for pip as your profit level continues to increase. A trader whose trailing stop is set to 15 pips and who is positive 20 pips has protected at least 5 pips of profit. As this trader's position increases so will their protected profit level.
Does my computer need to be on for the trailing stop to work?
Once a trailing stop is triggered a new stop loss is sent from your computer to Interbank FX's servers. However, for your trailing stop to continue to send updated stop losses to our servers, your computer does need to be up and running. Essentially, if your trailing stop has been triggered you do have a stop loss safely in place. However, if your computer is shut down your stop loss will not continue to trail.
Kst
Is it possible to get the indicator for MT4 anywhere for KST? Anyone?
thanks
Interesting - the first thing that comes to mind is an old stock guru named Martin Pring... he has an indicator that he built called the Know Sure Thing or KST for short - it is a smoothed rate of change indicator... which is especially useful for entering and exiting on technicals because the KST actually combines multiple time frames and weights them exponentially - very useful / accurate signals for both entry and exit. I have never looked into coding it for MT4... Pring Research has more info in it. There is no charge for it or anything... because i don not think that it has ever been applied to forex.
Is it possible to get the indicator for MT4 anywhere for KST? Anyone? thanks
Not sure about its efficiency .....
if the aim is to pefectly know the long term trending
jaguar1637
If anyone is still looking for the Know Sure Thing indi - here it is with an illustration of what it looks like. It does include a BB addition so may be useful to someone.
Like all indicators it needs adjusting to your chart timeframe.
I believe the HMA indicators, my HMA is on screen, are far better tools than this one.
TEAMTRADER
If anyone is still looking for the Know Sure Thing indi - here it is with an illustration of what it looks like. It does include a BB addition so may be useful to someone.
Like all indicators it needs adjusting to your chart timeframe.
I believe the HMA indicators, my HMA is on screen, are far better tools than this one.
TEAMTRADERIt is not exactly the "know sure thing" by Martin Pring (kst)
"Know sure thing" has 3 variations. Here is the one post with some explanation and some further links : https://www.mql5.com/en/forum/general
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I am playing around with this system, and have found decent entrys on it. However the stoploss is giving me problems. need some ideas on where to place stops.
Im using two HMAs a 21 HMA2 and a 21 HMA3, really only need one of them, but one looks so lonely. I have a Stochastic 9,3,3 and a MACD 12,26,9.
entry is when a 4 hour cnadle closes on opposite side of the 21 HMA2, and should be a negative candle if its a short entry and a bull candle if its a long entry.
Exit would be when the stochastic tops out or crosses. I dont like to wait for a stoc cross against me, but it is one of the rules to get out when that happens. I also believe any exit in profit is great. so I am never to harsh on myself when I exit early.
I use the MACD to monitor the trend and watch for divergence. But it dosnt effect my trade so far.
Any ideas on some ways to determine stops please let me know.
It seems to work good with JPY pairs but will give whips that the stoc normally gets me out of before a huge loss.
This is new for me and I havent done a lot of backtesting yet.