VERY SIMPLE. Interested in trying this? - page 2
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Go try this on the demo
OK, don't try to understand anything for the moment, I'll try to explain it on the simple method and try to make it easy. Look at the chart.
The Silver is under -50 = downtrend/weak. Better sell than buy.
Green, blue and red is near or touching the top, also indicates a sell entry point.
After they turn down 1 candle, you make a sell, S/L 50, T/S 50 and leave it until it reaches the bottom, for the non-risk taker, they should get out when green reached below -90, for the risk taker, get out at the other arrow when both green and blue reached below-90. Simple enough? You may get stopped out but chances aren't very high. If got stopped out, see if green, blue and red is still touching/very near the top, if so, enter another or else, wait for it to touch/very near the top before entering a new sell.
High chances of getting stopped is when you enter with only the green touching the top.
Do the buy if condition is reverse.
This is only the simplified method for you to see how I trade, the refined one is different. Now, HAPPY TRYING!!! https://www.mql5.com/en/forum
Hi FseXy, you got it right, I'm saying that I can't get all 4 %R to have MA attached to it, you can only do it to 1. All uses simple MA 8.
This is the more complicated one compared to the 1st post, that's the reason why I show the simple one first, for people to get used to %R before adding more.
Look at when all %R touches/very near the top and bottom, see chart top and bottom. It will take some time to explain and I will try to do it bit by bit.
STEX, my goal and anybody goals to any system is to consistently MAKE MONEY! and yes, I have to do everything manually and if I see strong moves, I'll put in trailing stop and a stop loss together with the entry order, because I'm no computer geek, I still have problem using MT platform. I'm not young anymore thank you. I would suggest that anyone who wants to do trading to stick to a system you're comfortable with, don't go round searching for one, get comfortable, get used and understand it, trying all will get you nowhere.Handymansg, in mt4 you can apply many MAs to many WPRs - use Previouse indicator data (wpr1-ma1; wpr2-ma2 etc)
2. you can simply use stochastic instead of wpr - set slowing to 1 and you have fast stochastic (wpr) with D- is your MA and with not flipped scale scale : 0 to 100 (wpr's: -100 to0)
william% system
Hi guys,
Anyone have the time and interest to try this?
Don't know if I attached correctly?
I'm just too tired tracking the chart and would like some help if any of you would be kind enough.
Hopefully, some programmer may see a potential in this and create an EA so we don't have to monitor the chart.
OK, here goes.
One have to wait for 3 indicator + 2 level to confirm a buy or sell.
1st one comes from %R - wait for it to reach more than -90 for a sell signal, when it goes above -90 and turn down below -90, this is the sell signal.
2nd, the MA for %R has to be also turning downwards like the %R.
3rd, the MA for the chart is also turning down for a sell signal.
Do the reverse at -10 for buy signals.
Once all these 3 signals are met, an order to sell/buy is executed and stop loss at 20 pips.
The trick to using this method is to set all indicators to "OPEN", not close!!
And you take profit at e.g.
You have a new sell and the market is going down, after several minutes, it hits lower than -10 and move up, after it move over -10 and all 3 signals are up, you take your profits (don't know how much, depend on strong or weak move) and put in a new buy order at the same time.
Hope all can understand it. Thanks! Gotta go sleep now, simply too tired, may have written some mistake. Nite.https://www.mql5.com/en/forum
Questionhi,
first time i come across your trade system,found very interesting and would like to clarrify the following:
a) 3 indicator + 2 level to confirm a buy or sell -what do you mean by this
cheers..
william% system
OK, don't try to understand anything for the moment, I'll try to explain it on the simple method and try to make it easy. Look at the chart.
The Silver is under -50 = downtrend/weak. Better sell than buy.
Green, blue and red is near or touching the top, also indicates a sell entry point.
After they turn down 1 candle, you make a sell, S/L 50, T/S 50 and leave it until it reaches the bottom, for the non-risk taker, they should get out when green reached below -90, for the risk taker, get out at the other arrow when both green and blue reached below-90. Simple enough? You may get stopped out but chances aren't very high. If got stopped out, see if green, blue and red is still touching/very near the top, if so, enter another or else, wait for it to touch/very near the top before entering a new sell.
High chances of getting stopped is when you enter with only the green touching the top.
Do the buy if condition is reverse.
This is only the simplified method for you to see how I trade, the refined one is different. Now, HAPPY TRYING!!! https://www.mql5.com/en/forum
hi,
i am a new trader,so,would like to clarrify couple of doubts from you:
a) After they turn down 1 candle - do you mean the completion of the
bearish candle?
b) only put in SELL or BUY when blue, green and red touches below -10 or
above -90, do you mean it is not adviceable to enter if this 3 colors is not
complying?
cheers,
Hi fxbs, thanks for advise, will try the stoch and see if same as %R. I will need to use up to 5 %Rs, can I put MAs into 5 of them? Don't know bout their formula though but is very comfortable with %R, maybe it's already become a habit and knows where it's going just by looking at it.
hcsin60,
a) 3 indicator + 2 level to confirm a buy or sell -what do you mean by this
forget about this now, don't use it.
New trader is good, absorb better!!
a) After they turn down 1 candle - do you mean the completion of the
bearish candle?
No, there's no such thing as a bear/bull candle with me, I don't look at candles, only mini/medium/major trend and indicators. You should not be concern with the price when trading, how much you make/lose will affect your judgement of when to get in/out.
b) only put in SELL or BUY when blue, green and red touches below -10(and turn up above -10 after bar close) or
above -90, do you mean it is not adviceable to enter if this 3 colors is not
complying?
Should be BUY only when (follow this order) green touch first, then blue, then red, provided silver(it tells you the trend) is above the -50 half. it means it's safer to buy, SELL if reverse. You can try if only green and blue and no red but not adviseable until you are familiar with how the indicators moves under different market conditions. This method works very well in channels, for trending, there's another way to look at the indicators. Spend some time, observe the price movements with the indicators and very soon, you'll see what I mean.
Hi fxbs. how silly of me. Yes, the stoch turns out to be the same as the %R, thanks a lot!!
well - f-la Lein's Sto : Close -Lo / Hi-lo; wpr: Hi-close/hi-lo
basically same thing and scale upside/down
anyway, it stays in history as separate indi (Larry's only) and filling the need - simple fast stochastic w/o signal line
WPR with level alert...
oaWPR alert,indicator.
slight mod VininI_MA_WPR(v1) to show ma & wpr