ammended template with trail stop 45 sma
I know I said it was the last template,
but i am sure this is the final template now
here it is
If you feel that the indicator TP_channel clutters the chart, here it is v1 of this. This version contains a proximity parameter, together with a range. If the candle is in range with the channel line, this line will be drawn, otherwise it will not.
This way, the channel lines which are far away from the action field aren't drawn.
weekly trend - awsome oscilator
i will look over this one also,
but i think we can now say that we have cracked this whole system
Also for those who are intrested, I have been looking over there trend filter, i was on forex peace army looking for a review on this system , and dustin says it uses the weekly chart , so that got me thinking,
what i done was i placed the awesome oscilator on the weekly time frame and the trend indicator is not far away from it at all, we are getting closer and closer to finding out the truth about this system
not quite there yet, but dam close
take a look
1) can you add an option[enable/disable] to filter out that MACD with that ema 5 shift 5 [or any number] to filter out that MACD arrow?
2) add a distance between the two MACD line to reduce too much arrow being drawn on the chart, refer this link: 2013-02-18_1331 - ChrisYeap's library
I have something else, that I would like to discuss,
should we be taking a entry if the price stays under the 45 sma ?
I think we have to look at this more carefully, if the price is not crossing back over the 45 sma this may mean that the trend is weak
i have done a drawing below to try and understand this more,
see what you all think then we can decide if this is the best option
trend failed at the 45 sma, no close back above
have a look at this example
this is exactly what i can see happen over and over again
the price falls under 45 sma, its either a pullback or a trend fail area, so I think we have to be carefull of what we are doing here, would be daft to enter without a solid confirmation of the trend continue
take a look and we can discuss it further
there are a few questions we have to ask ourself,
1) should we use the weekly awesome oscillator for the trend ?
2) should we confirm our trade with the close of the 45 sma ?
until these questions can be answered then we have a dilemma
what should we do ?
any suggestions on this
I would be inclined to avoid using the weekly AO to determine the trend, it lags way too much. The daily AO would be better, we would need a programmer to incorporate this onto a smaller TF chart than daily though.
How about HAMA indicator, I found this Heiken Ashi T3 is close but still not 100%, probably perform better:
I have changed the value of MAMethod to 7
weekly trend - awsome oscilator MTF
here is the deal,
we will use this multi time frame awesome oscillator as a guide with the 233 sma , we want to see both the awesome oscillator and the price agree in relation to the 233 sma
buy = above 233 sma, green on the AO
sell = below 233 sma red on the AO
I have attached the MTF awesome indicator and a new template, have a look over it and see if you like it,
also regarding the 45 sma, i think we can take trades under the 45 sma as long as the awesome oscilator agrees and as soon as the price hits the 45 sma your breakeven right away
this is how i intend to use this system from now on
hope you like this approach