Follow The Bouncing Pip - page 214
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Yes, the way is explained in several threads, some are located here, here or here.
A search for "period converter" gives near 50 thread talking about..
And this thread https://www.mql5.com/en/forum/177625
Thanks Linuxser and newdigital!
Would you please tell me the name of this indicator, circled in the picture?
In the attached BouncingPipEA_mpowerV2 file. The Wick from 0-1 and
Wait Signal from 2-5 is not there.
Kindly assistThose methods are found in version 41.
Robert
Result Posts
Hey All,
Its been a great 3 days. I am hoping to see some results. I saw a damn near 1000 pip trade on the GBP/JPY 1 HR chart. Where is everyone?
Bear-
Help please?
Quick question please?
Is there any way to get this forum to autosize pictures? It seems you can only either display them as attachments or inline.
People keep posting picture that are far to big for the screen and then when I'm trying to read a thread I keep having to scroll left and right?
Bloody annoying, to say the least!!
Help
Wayne
Hey All,
Its been a great 3 days. I am hoping to see some results. I saw a damn near 1000 pip trade on the GBP/JPY 1 HR chart. Where is everyone?
Bear-As I did not see any follow up on the results, I stopped posting....
These are from today.
Any mods?
As I did not see any follow up on the results, I stopped posting.... These are from today.
Hey roodstaart, are you using the exact same system as described in post one? I think that it is obviuos that you are using a shorter time frame by your statement... If you made any modifications, can you please post what you did?
Thanks very much
MP -- guess i have to talk over here also
_________________________________________________________________
UPDATE 12/03/2007
Hello all,
First I want to thank all of you for the support. Forex11 & I never thought this would take of they way it did. Thank you.
Now down to business. As I said somewhere on this thread I would only be updating this original method with any new additions once I was satisfied with its performance & it still adhered to our K.I.S.S. methodology. So officialy I will be adding the MFI (Money Flow Index) with 80/20 settings. I will be & have been testing certain indis & possibly will be updating again in the near future. I would like to ask Forex11 (Co-Creator FTC) if he would like to post his methodology. Below is screen shots of the my current methodology.
While the MFI works, so does the CCI, RSI, A/D and even ma crosses --- what brings a laugh is that people get SO emphatic about ONE indicator when they ALL work just fine !
As for exits & stoploss. To make it simple if you use a 1HR GBP/JPY I reccomend at least 75 pip SL. on the 4 HR a 200 pip SL. As for exits you can use the next signal or a profit point of your choosing. As for me I use the MFI to see how close its being overbought/oversold, look for upcoming news that my affect your trade & to make sure my risk reward is at least 2-1. Never risk more that what you will gain. Put bluntly its stupid.
If one has gotten a good trend change move, using stops (ESPECIALLY on the one hour and four hour are a good invitation to disaster and if you wish to argue, Ill show you exactly why ! Assuming you havent gotten a repaint, the price WILL ALWAYS MOVE IN THE NEW TREND DIRECTION, although it may not move till the next MAJOR market reversal hour, and if you dont know the market reversal hours . . . . . (oh never mind !)
for tp points, use "support and resistance" from barry and the MAJOR ma's, such as 200, 89, 62, 50 and the all impt 20 ! Since you came over to the site Im at, you must know these things work nicely, along with the LRC, Bols and others ---- in fact, on the H4, you can do a whole lot worse than plant your tp at the high of the bols if youre long !
The reason I say that is because I have noticed that more than a few times the trend will bounce & retrace for a while, then continue. I have used the bounce as stop & a chance to add to my positions.
If one sets a fib 15% on a retrace of the one or four hour chart, they will notice OFTEN lately, the price will bounce back up to the original resistance point, which is the "dot", "arrow" or ziggy down move and then WAIT FOR THE NORMAL MARKET REVERSAL TIMES to make its "COMPLETE" down move --- this tends to happen like clockwork (well, actually it IS clockwork !) so you can play it as you like, WAITING for the reversal to REALLY set the trade, or doing like bear, letting it drop (i then sell, and take the upside play with a buy stop set at resistance or above if theres a silvertrend or super signals arrow ABOVE the original resistance area !
A few points are if the overall trend is long & you see a short signal, chances are its a small retrace so it is more risky. However its a good chance for a quick profit.
There are some neato tricks one learns over the years with the ziggies and they tend to hold very true, EXCEPT the last few days with GU, where no matter where the arrows and dots were on the one and 4 hour, the sucker just went UP and UP and UP again on the next repaints, even though the ziggies would indicate a short. Fortunately for those who might have gotten caught in that tomfooolery, if they have no stoploss, the currency WILL come back down, allowing them profit ---
enjoy and trade well
mp