3_Level_ZZ_Semafor (indicator for MT4) - page 32

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tradability:
Do you trade live?

Yes, I trade live.

 

creating EA

Could anyone let me know how to create and EA , to open a position when a -3- has show up.

Thank you

steve

 

Installation Procedure

Dear Sir,

I am a newbie. Will you please please explain me how to install 3 level zz semafor and upload it to my MT4 platform.Please help me.

Prasanna

asystem2000:
Hi all,

Here is on one of my selfmade indicator.

3_Level_ZZ_Semafor

- The indicator which deduces extreme points of maxima and minima of the senior, average and small period on the price chart. It�s created on the basis of improved ZigZag algorithm

To familiarize with other my works it is possible here My works

Good Luck
 

...

Download the indicator from the first post of this thread, place it in experts\indicators sub-folder of metatrader main folder, compile it (or restart metatrader if yu find it easier to restart) and then frm the list of custom indicators double click on it and attach it to chart

Prasanna_ppl:
Dear Sir,

I am a newbie. Will you please please explain me how to install 3 level zz semafor and upload it to my MT4 platform.Please help me.

Prasanna
 

Semafores CAN be trades successfully!

I figured out 2 consistently porofitable ways to trade with semafores. In my opinion, the first method can be built into an EA, the second method - the one I use daily - is more profitable and far more complex and uses other indis as confirmation which I won't go into here. First method, which is rather simple - and simply logical - yields about 70 - 80% success rate.

Method 1 trading with semafores:

  • Here's what you do: Wait for a 3 semafore to print (doesn't matter if it's the highest high or lowest low of the trend). Any 3 semafore will do (any TF, although I prefer 5M TF - any currency pair, although I only trade EURUSD).
  • Now wait for a level one semafore to form (after the 3 semafore) in both up trend and down trend.
  • Once you have two level one semafores printed, you are ready to enter the trade when the first level 2 semafore exceeds the low or high of a level 1 semafore. Wait for level 2 semafore to surpass the level 1 semafore by at least 3 pips before entering the trade.
  • Example: in a down trend, level 2 will overtake level one semafore, and usually swing back up once more before reversing down again and keep going until it becomes a level 3 semafore, denoting that it's found a new lower level than the level 2 semafore (the opposite occurs for an up trend)
  • You can either exit the trade once a level 3 semafore prints, or you can install the ADX indi and watch it to see how strong the trend is and follow it for as long as you can. In a strong trend the 3 can reprint 3-4 times as it registers new highs/lows - even 6 or 7 times.
  • Once you have taken profit, you wait for the next 3 semafore to print and start the process all over again.

    • The logic behind this method is simple:

    • Level 1 semafore is the first new high/low registered after a 3 prints - this is a small movement.
    • WHat happens after level 1? A level 2 prints - which means a new high/low is registered. This is a larger movement of price.
    • Level 3 prints - this is the largestmovement so far which means it is higher than the level 1 semafore so it has to be profitable.
    • If the level 2 semafore continues and becomes a level 3, all good and well, you are already in profit because you enter the trade the moment the level 2 semafore passes level 1 semafore by 3 pips.

    The ONLY time when this system fails is on the rare occasion when the level 2 semafores surpasses the level 1 semafores on BOTH sides of the trend - up and down. Then you will be stopped out, or you can close the trade manually for a VERY small loss of a few pips.

    Other deviations: In a strong trend a level 1 will turn into a level 2 and then a 3 in one movement, so you will always miss out on the big, sudden breakouts after a no 3 semafore has printed, but most of the trends are orderly affairs: 3 prints, then 1 9on both sides), then 2, then 3 again.

    A simple EA can be built around this strategy as it has nothing to do with semafores 'repainting' i.e.

  • Once a level 1 semafore has printed in both directions (up and down trends) after a 3 has printed, wait for level 2 semafore to surpass level 1 semafore by 3 pips on either uptrend or downtrend = signal: enter trade.
  • Conservative exit trade: once level 3 has printed.
  • Or combine with ADX strength to give % probability of continuing with trade with warning signal when to exit trade (ADX weakening).
  • Next buy/sell signal = when a level 2 semafore surpasses a level 1 semafore.
  • You can even build in a warning if level 2 semafores has passed level 1 semafore in both directions (up and down trends).

Word of advice: First try this method with demo account until you are comfortable with system and know exactly how semafores work. I have spent many weeks studying the behaviour of semafores because I like them. This is a very safe, conservative and simple way to make money with forex.

Good luck with your trading.

 

asystem2000

I have the #4x3Semafor alert and I totally agree it could be made into an EA in association with other indicators.

However, I have extensively tested it with CCI indicators and also a Supertrend MTF Indicator and the results are excellent.

If the initial coder of the Semafor (asystem2000) was interested then I would share the parameters with him to make what I believe will be low drawdown and highly profitable EA.

I've tried to PM asystem2000 but unable to do so.

Regards

TEAMTRADER

Files:
tsd.gif  32 kb
 

To AceKay, how many trades have you taken with the strategy you have described, what is the profit and draw down? Many thanks ..

 

I cannot answer for Acekay but a trader I know personally had 18 trades and no losses last week - obviously within those closed profits there were times when a drawdown takes place, but if you use this indicator wisely it has huge benefits.

Use the indicator with chart diagonals as in my illustration, using the last star/dot as the starting point of the diagonal, and this will help eliminate a lot of the possible losses.

TEAMTRADER

 
TEAMTRADER:
I cannot answer for Acekay but a trader I know personally had 18 trades and no losses last week - obviously within those closed profits there were times when a drawdown takes place, but if you use this indicator wisely it has huge benefits.

Use the indicator with chart diagonals as in my illustration, using the last star/dot as the starting point of the diagonal, and this will help eliminate a lot of the possible losses.

TEAMTRADER

ok many thanks for your reply..

 

Philt

philt:
ok many thanks for your reply..

It is very similar to 'asystems' 3 level semafor and he is the coder of both. He is indeed a clever person and has my personal admiration.

If you have already downloaded his level 3 semafor, and change the settings to 15/34/55, this gives the identical picture to the #4x3 semafor I have posted -- and these setting work for all timeframes.

I see very little difference in the indicators, just visual affects.

SCALPING - It repaints like all of them but if it is used with the dots/stars as the START of diagonals then this is a safer way to trade. Obviously I use this with momentum indicators for scalping and it gives more credibility to the moves.

Hope this helps.

Regards

TEAMTRADER

Files:
4x_3_semafor_alert.ex4  12 kb
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