My New Day Trading System-rate and test - page 17
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this seems quite interesting, will check it out.
Here's a link to my new Murrey Math Trip Lines system.
https://www.mql5.com/en/forum/172943/page98
Any ideas and/or insights welcome.
CS where is your scalping technique. Is it the Murreymath system.
Hi All.
Thought I would post these charts to show another way of filtering a W2000 signal.
I use this more often than not with great success.
You will see 2 instances where the trade triggered with nearly identical confirmations both being successful trades.
Later down the chart the price ended at 1.2603 which I also rode down.
That is the third chart with a perfect triple top.
Re the W2000 trades.
1) Price was on a major 1/8 oversold Murray line. Excellent chance of retrace up
2) Price in both cases had just finished a higher low swing.(Good)
3) Rainbow was showing Blue buyers above price and no Brown bear belly to the left. (Excellent)
4) The AMA Yellow-Blue dot indi was not showing sold anymore.(Good)
5) The ROC_Rainbow indi was showing some green line buyer power divergence. (Supportive)
6) The Stochastic was going up from below.(Supportive)
7) The fast Laguerre had crossed 0.15 and slow Laguerre was looking like coming up.(supportive)
8) Bollinger 102 was relatively flat spreading slightly hinting of a move.
9) The yellow force line was going up.(Excellent)
All in all worth a shot with a stop placed just below the purple Murray line.
Third chart shows where it all ended up. Nice trade.
I rode it down on the following signal.
1) Looked like a triple top. Reject again of a major Murray line. (See Cy's new scalping method)
2) 2 Big brown pockets of bears below from the move up. Lot's of Smart Money does not percieve value yet.
3) Bollingers had lost strength and top was curling down sitting nicely in the Boll_Pocket retrace zone.
4) Both ROC Oscillator and stochastic were showing bearish divergence.
5) Price broke below Major Murray resistance line.
6) New York arvo fade was in place, day traders closing positions. Just a point for newbies. Be careful putting positions on right at end of market time. The market is often thin and you only need one bank(and they prey on this) to take your stops out. Small dumps can have big impact in a thin market.
7) Laguerres on bottom but could still go down. Laguerre is similar to stochastic in that they can both show oversold or overbought for a long time into a move.
I took first TP on the cross of the Boll mean line where it nearly always stalls and second TP at the 5/8 line.
This second TP looked right because there was a fair bit of resistance with a Murray line to cross.
I will probably pick the trade up again after the break of the 4/8 line and help fill the bears belly.
ATTACHED are TPL and indis if anyone is interested.
NOTE: I also use the 4ma of cy's to check on resistance but turn it off when trading as it runs too close to the price line visually for me.
NOTE 2
If you prefer to work with standard indi's I have attached probably the best macd diver around in the zip file. It gives similar signals to the ROC oscillator but has a different engine. Chart 2 attached.
NOTE 3: We all need a laugh too. Found this pic of a homeless day trader. Gotta give the guy 10/10 for persistence
eer no it's not me. Cy?
Cheers and hope my insights help.
Divergence Types
They say a picture is worth a thousand words.
Nuff said.
Cheers
Brooky: I just wanted to say THANK YOU so much for sharing these. This will be invalueable to my trading. Thanks once again for taking the time to share your colorful lovely charts, and wish you the best of pips buddy. Thanks again. Some nice improvements here
CS where is your scalping technique. Is it the Murreymath system.
ukcool,
The WIlliam's2000 and the Murrey Math Trip Lines systems are day trading systems. I will start a new thread when im ready to share the scalping system. I'll do so when sure that it's decent.
Hi All.
Thought I would post these charts to show another way of filtering a W2000 signal.
I use this more often than not with great success.
You will see 2 instances where the trade triggered with nearly identical confirmations both being successful trades.
Later down the chart the price ended at 1.2603 which I also rode down.
That is the third chart with a perfect triple top.
Re the W2000 trades.
1) Price was on a major 1/8 oversold Murray line. Excellent chance of retrace up
2) Price in both cases had just finished a higher low swing.(Good)
3) Rainbow was showing Blue buyers above price and no Brown bear belly to the left. (Excellent)
4) The AMA Yellow-Blue dot indi was not showing sold anymore.(Good)
5) The ROC_Rainbow indi was showing some green line buyer power divergence. (Supportive)
6) The Stochastic was going up from below.(Supportive)
7) The fast Laguerre had crossed 0.15 and slow Laguerre was looking like coming up.(supportive)
8) Bollinger 102 was relatively flat spreading slightly hinting of a move.
9) The yellow force line was going up.(Excellent)
All in all worth a shot with a stop placed just below the purple Murray line.
Third chart shows where it all ended up. Nice trade.
I rode it down on the following signal.
1) Looked like a triple top. Reject again of a major Murray line. (See Cy's new scalping method)
2) 2 Big brown pockets of bears below from the move up. Lot's of Smart Money does not percieve value yet.
3) Bollingers had lost strength and top was curling down sitting nicely in the Boll_Pocket retrace zone.
4) Both ROC Oscillator and stochastic were showing bearish divergence.
5) Price broke below Major Murray resistance line.
6) New York arvo fade was in place, day traders closing positions. Just a point for newbies. Be careful putting positions on right at end of market time. The market is often thin and you only need one bank(and they prey on this) to take your stops out. Small dumps can have big impact in a thin market.
7) Laguerres on bottom but could still go down. Laguerre is similar to stochastic in that they can both show oversold or overbought for a long time into a move.
I took first TP on the cross of the Boll mean line where it nearly always stalls and second TP at the 5/8 line.
This second TP looked right because there was a fair bit of resistance with a Murray line to cross.
I will probably pick the trade up again after the break of the 4/8 line and help fill the bears belly.
ATTACHED are TPL and indis if anyone is interested.
NOTE: I also use the 4ma of cy's to check on resistance but turn it off when trading as it runs too close to the price line visually for me.
NOTE 2
If you prefer to work with standard indi's I have attached probably the best macd diver around in the zip file. It gives similar signals to the ROC oscillator but has a different engine. Chart 2 attached.
NOTE 3: We all need a laugh too. Found this pic of a homeless day trader. Gotta give the guy 10/10 for persistence
eer no it's not me. Cy?
Cheers and hope my insights help.How did you find me?!
Hey guys,
I put this system together last night after coming to the conclusion that there must be some way to take advantage of the price's tendency to move in large waves.
I observe these waves on the 1 minute chart all the time. I'll share this system with you guys with the hope that at least some of you will join me in forward testing it.
As far as systems go this one is pretty simple. It mainly only attempts to follow the price action over large moves while limiting losses. It is capable of making 100 pip gains while risking very little. Though actually getting those 100 pips takes experience.
Some newer traders who can't read that currency pair as well might close the trade early, resulting in around 40 pips or something.
Anyway...
my theory here is very simple. We need an indicator that simply mimics the price action but that also provides signals based on said action.
Instead of writing something from scratch I found a pretty perfect analogue.
This is the indicator that you will need for this:
Williams Percent Range.
It's already in your Indicators folder.
Set input to 2000, chart to 1 minute.
You will have this:
You can see some nice price action there.
Now let's add a few levels.
I won't draw this out.
What I'm thinking of is selling at -60 for a sell signal, like this:
With a stop loss at -50. Some may think that -40 would be better but I've found that -50 is usually fine because if it retracts that far its very likely to reverse all the way to -60 anyway.
The above example is for a sell, obviously. The system only sells into negative momentum. This means that you only sell if the price HAS BEEN all the way up to -20. This helps to ensure that we are getting in with a huge wave.
Simply reverse for a buy trade. Buying at -40 with -50 for stop loss.
Now, this doesn't give you much action and you might want to take more trades in a day. If so you can do this:
Then, your Trip Lines would be:
Buying:
-40 from below
-20 from below
Selling:
-60 from above
-80 from above
By using the extra trip line and watching the five majors you will almost always have at least one of them about to pop off.
I know the indicator looks cluttered but you get used to that pretty fast.
PLEASE DISREGARD THE OTHER RANDOM INDICATORS IN MY METATRADER PICS. THEY ARE IRRELEVANT HERE. THE ONLY INDICATOR THIS SYSTEM USES IS WILLIAM'S SET TO 2000.
I just didnt' feel like uploading new screenshots when I realized I'd left those indicators on there.
If I havn't been clear please let me know.
Let's test this!CycleSurfer, I like your way of trading, I think I will follow your thread !
Good trade all !
ok, I will try to keep simple in my own mind
1. One of your old system the MA 2000,
2. One of my idea the level trading (25 per 25)
3. This last system the william2000