**Steinitz** Method Revealed Here - page 85
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Dan, Delete HAS_bar2. Now, drag HAS_bar2 from navigator window to HAS bar window.
What do I do with this?
I pit the 4TF-HAS2 into the 4TP-HAS..now I have blue boxes with little red inside of each one..
Hi Proverbs
Thanks for your reply it was very helpful. Please could you tell me, what is the minimum number of bars on a trend before you would enter the trade.
Many thanks
David_TI personally find there are to many wipsaws on the 5 minute bar so i will watch the 5 minute countertrend until it shows with the trend on the 5 minute then I will look to enter on the first bar of the 15 minute row. but before entering, I switch to the 15 minute chart to ensure the bar there has switched too then enter in the direction of the trend.
I am still testing this for myself and find that it keeps me out of more bad trades than anything.
Read his scalping method for more details...
suggestion
Don,
In post 857 you mention eliminating holding bad trades for long periods,
I think you will find that isn't possible "allowing wiggle room" & "keeping losses low" are mutually exclusive, IMHO,
however, as you don't seem to mind a bit of controversy, how about trying adding to a losing position or averaging down, as it is called, as most loosing trades only need time to recover?
just a thought!
hi
hi guys,
is it possible to add an arrow to the chart when the last 2 smaller TF were confirmed ....ex. if you in 30 m TF an arrow appears when 30 m and 1 h box has same color ..
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another suggestion
Please read daraknor's post #623 and the few others he has posted in this thread.
If I understand daraknor correctly, the MTFHAS indicator and the EA are based upon HAS and, if that is the case, the whole system is based upon a cross of two very short moving averages... if I understand him correctly that is.
Information well worth knowing (IMHO).
This is obviously the key issue of trend trading, whether you use and EA or manually trade this method. A top down approach will always be unable to get out of a deeper trend reversal situation without significant loss, than if you were trading from bottom time frame up. Using the HAS method manually I look at fibs on higher time frames, as potential trend resumption after a reversal from the main trend, to either get back into the market or, if a significant fib level broken, to get out of a trade. (see the jacko thread on FF).
So, what to do with the EA. Seems plausable that your position could be terminated from the next higher time frame from entry. So, if you use your 4hour as the main trend and the EA gets you in on the 30min time frame, when the hourly shows a reversal bar against the 4hour trend, it terminates the trade, getting you out with limited loss.
The only problem I can forsee is if the EA gets you in at an ever lower time frame such as 15 mins the position terminating at 30 mins time frame. Such a senario, whilst getting you back into a trend at an early level, is obviouly more prone to whipsaw price action more so than the higher time frames.
Another possibility is to divide your 4hour chart up into quartiles based upon previous price action divided between round numbers such as 1.3400, 1.3500 etc for example. Each quartile (at 100 pips per quartile or pips of a traders choosing) represents the level of risk willing to make per trade. So at the lower quartile more lots would be traded than those at the upper quartile. Should the upper or lower quartiles be broken then a shift in the grid would have to be made and lot sizes for the revised quartiles adjusted accordingly.
Using this method one's level of risk can be phased out the higher the trend becomes. The higher the trend the greater potential for deeper reversal. And when the the 4 hour time frame does catch the reversal the EA would have to recognise a grid reversal, i.e. the reversed exposure to risk with regards to Lot size, i.e if the trend reverses in quartile 4 for and the 4 hour time frame recognises this reversal whislt in quartile 4 then the exposure to risk would be recognised as a grid reversal, so quartile 4 becomes 1 (or 3 becomes 2, 2 becomes 3, 1 becomes 4).
More conservative traders may want to limit themselves further on retracements against the more dominant trend of the weekly and monthly time frames. Flexibility to risk exposure would, either way, using the grid method to risk exposure put the trader at an advantage when it comes to reducing losses using the HAS method.
How to programme this into an EA? Who knows.We are using the top down approach. The coding takes into consideration many nuisances that were looked at when actually looking at the code consider the "what ifs". I require that the MN1 be the starting max TF. We scale down until we find a counter trend. Once found we enter on one lower TF for a better timed entry.
The issue stems from a trade that enters at the end of one TF's trend that has become overly mature or extended. Since the criteria has been met to enter the program it takes the trade.
Now what happens is we are stuck into a large DD and hoping it will recover before causing the max TF color to alternate which signals us to exit with loss. I tried to set the max TF at D1 and top down from that point not considering any higher TF's.
That idea was replaced with starting at MN1 and moving down until the first counter trend was found. I even thought about trying to avoid W1 and start looking for counter trends at D1 while making sure the upper TF's are the same.
Anyway, the program has many many winning trades with the occasional losing one that drains the account. Looks like "grid trading" results that I have been dropping in to see if I can get some ideas.
I will know a lot more after trying some more testing with Lee. My newest idea is to run a test internally with each TF to monitor the average floating DD per TF and currency. Once known I can set a stop loss just above that threshold of the averages and draw the line and exit with a loss.
My hopes will be that we will eliminate the huge DD while not effecting too much the other profitable trades that were now cut short.
hi guys,
is it possible to add an arrow to the chart when the last 2 smaller TF were confirmed ....ex. if you in 30 m TF an arrow appears when 30 m and 1 h box has same color ..
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Forex Indicators CollectionThat program is finshed with the exception of any exit strategies. It doeshave arrows with 1 to 4 TF's in mind. It is user adjustable and have alerts. Once again was programmed by Lee and we are setting it asside until we finish the "Scalping" EA. I don't want to be scattered until we get one concept finished.
It's funny. I am going full circle bacl to this method that I learned 10 years ago,
Looks like maybe simpler is better. Wishing for the best with the exit method added in.
Pips4Profit
hi
That program is finshed with the exception of any exit strategies. It doeshave arrows with 1 to 4 TF's in mind. It is user adjustable and have alerts. Once again was programmed by Lee and we are setting it asside until we finish the "Scalping" EA. I don't want to be scattered until we get one concept finished. It's funny. I am going full circle bacl to this method that I learned 10 years ago,
great Steinitz,hope we could find the holly grail here....
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