I've lurked a lot in the past but don't really post. I have however followed this thread with a lot of excitement. I want to thank the person who came up with this system.
I am currently trading it on a Dukascopy demo account. With the following modifications (bear with me, there are many):
I have set the NonLagMAv7.1 length parameter to 45. I also trade this live so don't use the email function.
Instead of using H4 only for the SSL Bar, I layered in extra timeframes, including the timeframe in which I am trading (M15).
I do trade outside the recommended hours primarily because I live in Vancouver and am either sleeping or busy during a lot of London/New York. And I have expanded to several pairs, all on M15 charts. These are: GBP/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, EUR/JPY.
Other than these alterations I basically stick to the rules. Instead of the H4 SSL Bar agreeing with a change in our MA, I looked for all timeframes to agree. After I enter, I prefer a 20 pip SL which I adjust to break even when the trade starts moving along well.
Where to TP? I would like to add my 2 pips as a suggestion. One I am toying with. Open a second NonLagMAv7.1. Paint it any color you want, just as long as it completely different from blue/red or whatever your first one is. Then use the displace field. Adjust the 0 to 1 or 2 as per your tolerance. When the two NonLagMAs scissor shut on the chart - exit.
I am still tinkering with this system but loving the original simplicity of it as stated in post #1. I've never tried to attach an image in a forex forum before, but I will try to attach one here of what my Dukascopy MT4 demo acct looks like. I have added some lines and arrows through a recent trade.
Any feedback is welcome.
thanks for the explanation codex.
Always good to see there are options.
Thanks for the good ideas you suggested,i will try them out on demo.
Question for Codex
I've noticed that you have jumped in a number of times to suggest a subscription to the elite section in order to get the 'non-repainting' version of the SSL Bar by Mladen. I have a quick question about this.
Is this the $29 per month rate or the $75 per month rate? Honestly, I don't want to spend either amount for a single indicator. The one I'm using tends not to repaint until it's of little concern. Anyway, I have noticed under the subscription to the $75/month membership, that conversion to MT5 is offered. Is this across the board, without any qualification? Is the Gann Hi-Low/SSL Bar coded for MT5 as well, as we will eventually all lose access to MT4 as it becomes a dinosaur.
Sorry for all the questions. But they're natural if one intends to trade this strong system and template into the future for long term profits.
I am taking a liberty of answering your question
You are right : if you are after just 1 indicator or EA or anything similar, then maybe it is better to pay to a coder than to subscribe to Elite or Advanced elite section. Even then, since I know a bit of the prices some people are demanding for coding, you are going to have to pay more than the subscription fee for either of the sections
But, then, it would mean that those sections are "one source sections" and nothing is further from the truth than that (just see newdigitals posts about novelties in those sections, and that is not all).
Many Thanks Mladen, I for one truly appreciate what you have done here!!!
Mladen has effectively just made this strategy future proof for MT5. Some of you may not know but Mladen also has a very good indicator he named "averages" (actually you may know if you have seen any of my other posts, I love this indicator). It is sort of a jack-of-all for the Moving Averages. (one of the options for this indicator is a nonlagMA)
In the elite section you will find that there are 3 MT5 indicators so far (well I stand corrected 4 if you count this one!) and one of them is his upgrade for "averages" to MT5.
Thank you Mladen.
yotr72, I have never regretted joining the elite section. I have discovered many of good indicator there, and often I find myself constantly browsing the "indicator list" often trying to understand the reasons why they were created. On a few occasions Mladen has even modified one or two of my existing indicators (things like, making them multi-time-frame enabled, sound alerts, arrow indicators etc...)
(He's a machine and often very unappreciated for what he provides to the community. It was rather funny to be watching the elite indicators thread over the last 2 weeks being bombarded by request from members with "Please Mladen I need..." , "Mladen could you make me a ....", "Mladen could you modify......". There must have been at least 60 requests for new and enhanced indicators. (Even crazy funk indicators I never thought were possible)
The Elite section also provides some very valuable and often very interesting trading systems. These systems often spark ideas for you that will usually lead to you making your own enhancements. Most of the time you will find quite a lot of valuable information about various indicators and how they work and more specifically why they work.
My suggestion is take the trial period for 7 days and test drive the content there.
Thanks and thanks
You are awesome. That is just what I was hoping for - if and when MT5 rears its interesting head at Dukascopy. I use their other platform to place my trades but depend on MT4 for charting. That just made my day.
Thanks for the heads up on the Elite section. I didn't know there was a seven day trial. I will definitely look into that.
Thanks to you both.
Both of you have a great holiday. Take your next 24x5 off and relax 24x7.
One last thing
To marcramon and others,
I have been experimenting with the exit I suggested. I continue to trade this on six pairs with a 20 pip SL. I adjust to breakeven when the trade is +20 pips or so. After extensive testing using a wide variety of stops, I would like to also take my hat off to the author of NonLagMA_7.1. Time and again, all my favorite ways to exit trades have come up short against this great non lagging MA. To dummy it down, I wait for the MA to change color.
I have backtested using about eight different criterion. Everything from set SL/TP levels to PSAR variants, to other EMA crosses, to digging into the past (Chandelier exit, etc.). I've got to say, the Non-lag MA is tops. Its ability to 'stop on a dime' so to speak, is remarkable.
No matter what exit you use, you will always give away something. The key to trading is to not give away the farm (tightish SL) while giving a chance to capture the majority of the move. On M15, some of the noise on M5 and below is drained away. If you can commit to exiting on the NonLagMA_7.1 direction change, you will more often than not be surprised at your results.
I would add one thing: I have a tendency to gamble on long trades. On trades that would run +100 pips on sticking fast to this method, I will often exit sooner. My weekly goal (trading in spare time) is 100 pips. So if I'm up 50-60 pips and hit an hour of price consolidation, I will often happily make an executive decision and take those 50-60 pips instead of risking more.
That's just my operating strategy. If I have 60 pips in the bank before Monday's over, then there's no pressure to hit 100 by week's end.
GL to all of you trading this system.
I am really having a good time discovering these indicators, thank you !
the Gann high low activator from mladen does repaint just like the SSL. Does in my mt4 anyhow.. Will verify the mt5 one.