55bc - page 2
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entry rules
i suppose i should tell a bit about entry rules,the first thing i always wait for is for TRENDENVELOPES to give me a signal................if this doesnt happen during my trading time then nothing else happens i turn off laptop and go out and do something less boring instead (who from uk recognises that line from tv programme ,why dont you,showing my age now)........
ok some senarios...........i will use a sell trade as an example
99 times out of 100 RSI will change at the same time TRENDENVELOPES gives a signal if this happens good,if RSI is already red (sell) and then we get a signal from TRENDENVELOPES then that is also good,if RSI is BLUE and TRENDENVELOPES gives a red(sell) signal then i would only wait maybe 2 bars to see if RSI was going to change................i hope this is understandable........would be a lot easier if i could get my picts to upload
so once RSI and TRENDENVELOPES are in agreement (both red) then i look at STEPMAsw and WILLIAMS as long as STEPMAsw is also confirming a sell i then look at WILLIAMS this indicator i PREFER to actually be insde the sell zone but if it is at say -72 and just outside i would probably go with it if it was less than -70 then i would leave it alone,i suppose this is the problem with a method that has a bit of discrecionary involment the rules are not hard and fast,so i hope you get the jist of entry into the trade(obviously for a buy then its the opposite of the above description)
.......thestellaman
aw dont et_phonehome_2 you will make me embaressed lol,anyway heres a screenshot......more to follow..........this is of the 2 trades from today the pict is made up of the RSI chart bars and the signal from the trendenvelopes on the main screen and the STEP MA that i changed a little to show on a separate level thats the blue/red line running through the middle of the WILLIAMS% with the added buy.sell zones,usually these are used as overbought/oversold levels but as i said before sometimes it likes to linger up/down ther for a while and im using this as a nice conformation to enter the trade,also can be used as an exit point when it starts to come out of a zone......
any question just ask............as long as there sensible..
.............thestellaman
screenshots not uploading.....so will need to wait till the morning,sorry....hopefully there will be a nice trade in the morning........night all.....
...........thestellaman
hi Dave137 dont kno why the template is not working for you,other than you may have to zoom in and out a bit to get it to fit as the lines on the WILLIAMS% indicator are hand drawn if that does not work then just add the levels on the williams indicator itself(open the indicator goto levels and add -5,-10,-15,-20,-25,-75,-80,-85,-90,-95) i just prefer to draw them by hand so i get the colour co-ordination(a lot prettier)
hi fxbs,i am considering opening a few lots or at least 2 and closing 1 when my20 pips has hit and letting the other 1 run as a great deal of times i do miss out on a very good move,but as i said in the first post(or did i) this was one of the hurdles that i had to overcome i.e not worrying about wether i missed the rest of a big move,i am happy with my 20 pips a trade as the usually only take a small amout of time to get then i can go and enjoy a bit of free time,maybe as my acount grows(hopefully) im sure that i will no doubt go in with other lots.
im sorry that i cant seem to upload any picts at the moment but will keep trying.......................thestellaman
I appreciate you sharing your system and time. Visually the strat. looks sound. I did notice one small problem, which is the StepMA doesn't work on JPY pairs where price has two digits after the decimal point Ex. 210.80 unlike G/U which has four digits after the decimal point Ex. 1.9623?
TimeFreedom
I notice that as well. Are you able to alter StepMA to accomodate all pairs?
I appreciate you sharing your system and time. Visually the strat. looks sound. I did notice one small problem, which is the StepMA doesn't work on JPY pairs where price has two digits after the decimal point Ex. 210.80 unlike G/U which has four digits after the decimal point Ex. 1.9623? TimeFreedom
Can someone please alter this?
Can someone please alter the indis in this post's setup to work on all pairs?Currently does not work for jpy pairs. I think it's the StepMA that needs fixing. Thank you.
https://www.mql5.com/en/forum/178461
Thanks. That seems to have worked.
First pips, thanks for share