The Only Pivot - page 176
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Hi David, TimeFreedom, and Stephen,
First of all, I'm quite happy to have a chance to meet Stephen face to face today in Jakarta, since I'm just downloading the version 1.3, so I'll test it today and so on, and upload the result asap while still running lovely version 1.2 with a bit modification.
I modify this section only as:
iMA(Symbol(),TF,2,0,Method,Price,0) < daily && Minute()==0
&&
iMA(Symbol(),TF,2,0,Method,Price,3) > daily)
My idea is just to have the most current MA price comparing to the last 3 bars back in M5 for triggering entry.
This version 1.3, after having short in brief observation, has almost perfect for current options required to have better pips grabbing. The SL3 and so on is correctly written, and I hope that I won't receive error again.
Today I've got 51 pips profit with real mini account at entry point of 211.26 which is a bit to high (expensive) according to my opinion. I wish that I can enter the market with as close as possible distance from our daily open price for both long or short position.
Thanks all and Bravo - TOP.If you want to open trades at the start of the day, change this:
if(opentrades()==0 && Hour()>=1)
{
//Start of day
if(Hour()==1 && Minute()==0)
{
if(iMA(Symbol(),0,2,0,MAMode,pricemode,1) > daily)
{to
if(opentrades()==0 && Hour()>=0)
{
//Start of day
if(Hour()==0 && Minute()==0)
{
if(iMA(Symbol(),0,2,0,MAMode,pricemode,1) > daily)
{But with your modified ima setting, you may have problems if you get stopped out before the first hour is closed. if there is a cross from yesterday to today, it may enter right back ito the trade.
Good luck with it.
Got stopped our for -150 pips. Doesn't look like we will get a short signal today.
TimeFreedom
Got in short on another DT based on PA again. Got stopped out on the last DT trade and got back in at a better price 210.69. I guess we will have to wait one more candle for the TOP short trade signal. TimeFreedom
Hats off to you - superior coding and execution to what I attempted to code - thank you for sharing - I still hope to improve my coding skills to share eventually with the community! Just a little encouragement to keep on keepin' on. :-)
Thanks. Just trying to give a little back, and hopefully we can all make some money with this.
HI TimeFreedom !
You can give your indicators and a template, my not correct!
HI TimeFreedom ! You can give your indicators and a template, my not correct!
your is correct. You have to tune indicators according GMT shift of your broker
Most likely you are using a broker which is not GMT+0, therefore your open price is based on a different candle. You can find the template and indicators here.
TimeFreedom
HI TimeFreedom ! You can give your indicators and a template, my not correct!
@ Kabota
Per your request you will find the MTP_1.7 preset with TP of 30, 50, and Max SL of 50. Again, IMO a 50 SL is insufficient for G/J and the RR is less than 1:1. Give it a try and let me know your results.
TimeFreedom
@TimeFreedom
What kind of fibos do you use ?
Would you please to share that one
?
Thanks.
@TimeFreedom
What kind of fibos do you use ?
Would you please to share that one
?
Thanks.Put that onto your indicators folder
And next time your fibos will have the labels
ALLELUIA
Pivots for Major Sessions
Hi all,
I have developed Steven's idea further, and I am getting very interesting results: the shorter the timeframe, the higher the profitability of this system. The question is whether we have a capable developer to convert it into MT4 language.
What I do is draw two horizontal pivot levels (see attached picture):
1. market open (in my case previous market's close)
2. floor pivot (H+L+C)/3
* I draw vertical gray stripes to see when does the new major market open.
* this is as per orginal Steven's idea, BUT...
I was not happy with the new pivot levels being drawn only once per 24-hours, and I converted it to draw new pivots for Tokyo, London and NYC sessions. I also tested new pivots at every hour (as per my previous post), but new pivots at new sessions return higher profit.
In my method the LONG signals are generated when the open and closing prices (of the current candle) are above the floor pivot and above the market open. The zone in between acts as a wide support/resistance level and no signals are generated inside that zone. This also helps avoid whip-saws.
The SHORT signals are generated when (both) Open and Close are below the lower pivot level.
This way we have a mechanistic system, where we are continuously in the market.
Back to the results, I am getting the best results on 1-min charts, then 5-min and 15-min. 30-min and 60-min are unprofitable. This actually makes sense, as on 1-min char we have tighter Open-Close spreads and signals are closer to the pivot levels. On larger timeframes we have higher candle bodies, and slippage that goes with it.
So, the question is if anyone is able to draw pivots at new market sessions (TYO, LON & NYC).
Cheers, Kris