3_Level_ZZ_Semafor (indicator for MT4) - page 35
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TEAMTRADER: please post the indicator similar to the dot but solid line red/blue with flat horizontals sections
That is the Volocity Wave indi - attached.
It has little value except it shows the previous size of the wave - so the bigger the wave the less likely of a similar size wave. Less likely but not impossible.
TEAMTRADER
Does a 5 level zz exist?
Not sure if there is a 5 level zz out there, got this picture off of this forum. Please let me know if it does and share. Thank you.
Riki
Since it's labelled 1,2,3...Which point do you make your entries and exits?....Please correct me if I'm wrong,this is how I understood it,regarding how it behaves...Candle 3 is usually the end of a trend,after that,candle 1 will appear signalling a stall of the supposed new trend coming from candle 3,then another candle 1 appears signalling the continuation of the new trend,the same is true with candle 2.Bottom line is, a complete wave or cycle starts and ends with candle 3..Kindly share your entry and exit strategies using your indicator..thank you..
3 Level ZZ Semafore Trading System EA Needed
I have been a great fan of the 3 Level ZZ Semafore indi for MT4 and use it as my primary trading system and have found it to be extremely reliable and profitable. I would dearly love to have an EA for my system so that I can automate my trading and not have to stare at the screen for 16 hours a day! J
The way I trade the 3 level semafore is this:
Obviously I don’t trade the semafor in zigzag fashion as this would just be suicide since the No.3 semafore moves to new highs/lows in a strong trend. What I do is trade the higher high or lower low semafores, one at a time. So, after a 3 semafore, I wait for a pair of 1 semafores to print, then I enter the trade when the no2 semafore supersedes no 1, and exit at the first pullback (I only trade one semafore at a time, in case the trend switches and goes the other way, simply because I am a cautious trader and drawdowns make me extremely nervous). After that I wait for the trend to surpass the No2 semafore, enter the trade, and wait for the no3 semafore to show up. I stay in the trade until the first reversal. I use a Nonlag MA coupled with Trix for my exits. This is an extremely simple, reliable and profitable way to trade.
I always use the last pair of high/low semafores as my benchmark; no matter if they are no1, no2, or no3 semafores. For example, if the last semafore was a no3, I would still trade it if the trend surpasses it and ride the trend until a new no3 semafore is formed and exit on the reversal, guided by Nonlag Ma and Trix. This way I am able to catch almost all the moves. This system can be used in all timeframes with all pairs, though I prefer the 5M TF.
Now I read in one of the forums that an EA could not be built for the semafore indi because it “repaints”, but the way I trade it, “repainting” is not an issue because I still enter the trade even if the trend surpasses a printed no3 semafore because all that means is the trend is strong and is continuing to build and often times there is still a great deal of profit to be made in this way. So “repainting” does not come into it.
So, in my opinion, the EA should be built around the following criteria:
1.
Enter trade when trend supersedes no1 semafore by X pips (scalable by user for different TF)
2.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
3.
Enter trade when trend supersedes no2 semafore by X pips (scalable by user for different TF)
4.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
5.
Enter trade when trend supersedes no3 semafore by X pips (scalable by user for different TF)
6.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
7.
Alert built in when trend is passing any previous semafore by X amount of pips.
I would be truly grateful if any of the many clever programmers in this forum could donate some of their valuable time to build such an EA, or someone could possibly advise me as to who would be able to help build the EA. I truly believe that an EA built around this system could help a lot of people make a lot of money consistently. I make around 250pips a day with this system trading two pairs in the 5 minute TF.
Thanks in advance
Acekay.
Since it's labelled 1,2,3...Which point do you make your entries and exits?....Please correct me if I'm wrong,this is how I understood it,regarding how it behaves...Candle 3 is usually the end of a trend,after that,candle 1 will appear signalling a stall of the supposed new trend coming from candle 3,then another candle 1 appears signalling the continuation of the new trend,the same is true with candle 2.Bottom line is, a complete wave or cycle starts and ends with candle 3..Kindly share your entry and exit strategies using your indicator..thank you..
Hello james2011,
This indi is great. I trade it on the H4 TF, and only trade the 3 because that's when you get the big reversal move. When I get a level 3 signal, I wait for a new bar to form. If the indi does not repaint I will enter the trade once the M5 TF candle turns either red or green candle (depending whether I am going short or long). You can ride the trade until the the next number appears (any number) to TP or you can ride it to the until the next 3 appears to exit the trade. I don't like to stay in the market long so I have a set profit of 25 pips and exit the trade. This is by far the best indi I've been using and if used properly with some patience, you shouldn't have a single bad trade. I am trying to get an email alert added to it, which would help enourmously.
Good Luck!!
riki
Thanks Riki for the input..let's say a new 3 appeared
Hello james2011,
This indi is great. I trade it on the H4 TF, and only trade the 3 because that's when you get the big reversal move. When I get a level 3 signal, I wait for a new bar to form. If the indi does not repaint I will enter the trade once the M5 TF candle turns either red or green candle (depending whether I am going short or long). You can ride the trade until the the next number appears (any number) to TP or you can ride it to the until the next 3 appears to exit the trade. I don't like to stay in the market long so I have a set profit of 25 pips and exit the trade. This is by far the best indi I've been using and if used properly with some patience, you shouldn't have a single bad trade. I am trying to get an email alert added to it, which would help enourmously.
Good Luck!!
rikiThanks Riki for the input..let's say a new 3 appeared on the H4 TF is it a good and safe practice to make entries on the 5th candle on the H1 TF from the time the 3 appeared on the H4 TF?
I have been a great fan of the 3 Level ZZ Semafore indi for MT4 and use it as my primary trading system and have found it to be extremely reliable and profitable. I would dearly love to have an EA for my system so that I can automate my trading and not have to stare at the screen for 16 hours a day! J
The way I trade the 3 level semafore is this:
Obviously I don’t trade the semafor in zigzag fashion as this would just be suicide since the No.3 semafore moves to new highs/lows in a strong trend. What I do is trade the higher high or lower low semafores, one at a time. So, after a 3 semafore, I wait for a pair of 1 semafores to print, then I enter the trade when the no2 semafore supersedes no 1, and exit at the first pullback (I only trade one semafore at a time, in case the trend switches and goes the other way, simply because I am a cautious trader and drawdowns make me extremely nervous). After that I wait for the trend to surpass the No2 semafore, enter the trade, and wait for the no3 semafore to show up. I stay in the trade until the first reversal. I use a Nonlag MA coupled with Trix for my exits. This is an extremely simple, reliable and profitable way to trade.
I always use the last pair of high/low semafores as my benchmark; no matter if they are no1, no2, or no3 semafores. For example, if the last semafore was a no3, I would still trade it if the trend surpasses it and ride the trend until a new no3 semafore is formed and exit on the reversal, guided by Nonlag Ma and Trix. This way I am able to catch almost all the moves. This system can be used in all timeframes with all pairs, though I prefer the 5M TF.
Now I read in one of the forums that an EA could not be built for the semafore indi because it “repaints”, but the way I trade it, “repainting” is not an issue because I still enter the trade even if the trend surpasses a printed no3 semafore because all that means is the trend is strong and is continuing to build and often times there is still a great deal of profit to be made in this way. So “repainting” does not come into it.
So, in my opinion, the EA should be built around the following criteria:
1.
Enter trade when trend supersedes no1 semafore by X pips (scalable by user for different TF)
2.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
3.
Enter trade when trend supersedes no2 semafore by X pips (scalable by user for different TF)
4.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
5.
Enter trade when trend supersedes no3 semafore by X pips (scalable by user for different TF)
6.
Exit trade on first reversal, guided by Nonlag MA – or trend falls back by X number of pips.
7.
Alert built in when trend is passing any previous semafore by X amount of pips.
I would be truly grateful if any of the many clever programmers in this forum could donate some of their valuable time to build such an EA, or someone could possibly advise me as to who would be able to help build the EA. I truly believe that an EA built around this system could help a lot of people make a lot of money consistently. I make around 250pips a day with this system trading two pairs in the 5 minute TF.
Thanks in advance
Acekay.
Acekay, thank you for your system. As they said picture is worth more then thousand words can you post chart when exactly you enter the trade.
Thank you in advice.
Thanks Riki for the input..let's say a new 3 appeared on the H4 TF is it a good and safe practice to make entries on the 5th candle on the H1 TF from the time the 3 appeared on the H4 TF?
james2011,
I don't understand your question. What do you mean by on the 5th candle? I'm taking as 5 hours later, is this correct? If so it will be too late to enter the trade. A good practice would be once you get a 3 on the H4, wait for the new H4 candle to form so you can very whether it will repaint or not, and see if the daily TF has atleast a 1 or 2 level # on there. This is playing it safe. Also, I use S/R indi on the H4 TF. A great reversal signal is when the 3 shows right right on a support or reversal level. When I get that I will increase my lots on that trade for a bigger profit. So far with this method, I am 13 for 13 in my trades.
Good luck!
riki
james2011,
I don't understand your question. What do you mean by on the 5th candle? I'm taking as 5 hours later, is this correct? If so it will be too late to enter the trade. A good practice would be once you get a 3 on the H4, wait for the new H4 candle to form so you can very whether it will repaint or not, and see if the daily TF has atleast a 1 or 2 level # on there. This is playing it safe. Also, I use S/R indi on the H4 TF. A great reversal signal is when the 3 shows right right on a support or reversal level. When I get that I will increase my lots on that trade for a bigger profit. So far with this method, I am 13 for 13 in my trades.
Good luck!
rikiRiki...yes its 5 hours later or simply the next 4 hour candle that I'm referring to..thank you for your help riki..besides the support resistance indicator I find the bollinger bands at default setting also helpful..again thank you for your inputs and Godbless..
Unbelievable - Someone is selling the 3_Level_ZZ_Semafor. They are claiming it was developed by Belkhayate and calling it the "Belkhayate Elliott Waves". What's more, they claim it does not repaint or backplot!
They couldn't even be bothered to change the colors.
Belkhayate Elliott Waves - Best Trading System
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