Linear regression indicator - page 2
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Hi FXToolsMan, Are you referring to the kelpie channel system? How does it work? Thanks
Hi everyone on this tread.
I was wondering if anyone here know how to program Fxtoolsman's linear regression indicator to shift 1 or more bars back or forward?
Yeah, just like everyone here I have been touch by Globalone, but never really to the point of investing with them. I just use them for the indicators and have build a system thats similar to what they first started with, but mine is more detailed, less confusion, and highly more accurate than their past or present crap.
I may at some point share this system with you all, but not as of yet. I need to make some videos that explains the system and some things about the forex, this just may turn into a full blown course. Btw, this system is really only suited to trade GBP/JPY, trade other pairs at your own risk.
Fxtoolsman, you rock with your LR, thanks a bunch!!!
The Linear Regression Indicator (LRI) plots the trend of a market price
The trend is determined by calculating a Linear Regression Trend Line using the "least squares fit" method. This method helps to minimum distance between the data points and a Linear Regression Trend Line
Unlike a Moving Average, the LRI does not exhibit as much delay since it is fitting a line to data points rather than averaging them.
-LRI is actually a forecast of the tomorrow's price plotted today.
-When prices are persistently higher or lower than the forecasted price, expect them to quickly return to more realistic levels. LRI shows where prices "should" be trading on a statistical basis and any excessive deviation from the regression line is likely to be short-lived.
Note: The LRI is only suitable for trading strong trends.
LONG if LRI turns up
SHORT if LRI turns down
Setting of 13 periods seem to be profitable
Hi.
Thats my first post in this forum.
Let me see if you can help me...
In vttrader the linear regression indicator has two colours: when the price goes up in turns green and when price goes down it turns red. In this case there isnt any change of colours...
Do you know why?
Thanks.
Hey, There are some that do, but i don't have one. Do a google search. --D
I am the trader who named the Kelpie Trading method, but I am not the originator of this method of trading.
It is a counter trend trading method that can be very good if used carefully, however if the reversal doesn't come, it can spell disaster, so it is very important to test it and be very sure to use definate stops.
Used properly it can give about 70% winning trades, but only after a lot of testing to discover the time frames and stops to use that suit your trading style.
The method I used was with Bollinger bands and the liniar regression indicator (not the standard one in MT4)
The LR indicator is standard fare in FXTREK Intellicharts, and thats where we first discovered it. After I stopped using Intellicharts, I helped in finding a programmer who put in the time to make this indicator work on MT4.
I used it to concistantly trade profitably on Intellicharts 10 min chart, on GBP/USD, however MT4 does not have a 10 minute chart, and I was not as successful using it on 15 min MT4 charts. I gave it to Rick Young and named it The Kelpie system... I am Australian and the Kelpie is a cattle dog here.
I no longer use it, in fact I don't use any indicators at all these days. I trade bare candlesticks on 4 hour and daily charts. Pure price action works best for me after 8 years of trading... and it takes only an hour or 2 a day to average about 200 pips a week, and make a steady 5 to 10% profit a month.
If you are talking about "The Global One Group" headed up by Rick Young then, I am sorry you are involved with them. If there is another Global One Group then I apologize to them for the mistake. I am the person that originally showed Rick Young the value of the LR - 4, along with the Bollinger Bands. I have the emails and paper work to prove it. He and my former employer Xxxxxx Xxxxxx proceeded to take this idea and market it against my better judgment; it wasn’t ready or proven at that time. They did not follow the directions I gave or common sense. I have heard (but unverified) they have lost millions of dollars of other peoples money using this strategy. If so, I also apologize to those people as well. My advice is; be careful of claims that sound to good to be true, they usually are. I have attached several Linear Regression indicators for the MT4 platform. If you like I will attach for free the actual strategy this indicator was to be used with. It does make some PIPs on a daily basis however, attention to detail and watching the charts is necessary. The three attached files are my attempts at getting it right. The Linear Regression_Indicator_Line.mq4 is the one I use the most. I hope this Helps.
Thank you. Would you send me the strategy? I appreciate it. [..]
I am the trader who named the Kelpie Trading method, but I am not the originator of this method of trading. It is a counter trend trading method that can be very good if used carefully, however if the reversal doesn't come, it can spell disaster, so it is very important to test it and be very sure to use definate stops. Used properly it can give about 70 - 80% winning trades, but only after a lot of testing to discover the time frames and stops to use that suit your trading style. The method I used was with Bollinger bands and the liniar regression indicator (not the standard one in MT4) The LR indicator is standard fare in FXTREK Intellicharts, and thats where we first discovered it. After I stopped using Intellicharts, I helped in finding a programmer who put in the time to make this indicator work on MT4. I used it to concistantly trade profitably on Intellicharts 10 min chart, on GBP/USD, however MT4 does not have a 10 minute chart, and I was not as successful using it on 15 min MT4 charts. I gave it to Rick Young and named it The Kelpie system... I am Australian and the Kelpie is a cattle dog here. I no longer use it, in fact I don't use any indicators at all these days. I trade bare candlesticks on 4 hour and daily charts. Pure price action works best for me after 8 years of trading... and it takes only an hour or 2 a day to average about 200 pips a week, and make a steady 5 to 10% profit a month.
One trader who took my Kelpie method and improved on it (thru money management) and made it his own, and in doing so became one of the most successful forex traders out there... his name was Dan Gaub, who sadly died this week in a motocycle accident.
Dan reportedly traded $2000 up to $2 million using the Kelpie Trading Method... with his modifications.
The Kelpie Indicator was originally developed by and is available on the FXTrek Intellicharts... it's known as the Linear Regression indicator there. However this is NOT the same as the Linear regression channel indicator in MT4 charts.
The Indicator is a type of dynamic moving average, with a default setting of 14, however we discovered that by setting it at 4 made it "super dynamic".
The best settings I found for the indicators for the Kelpie Method are as follows on MT4 charts:
The way we discovered to trade it is to take a possible trade when the candle breaks out of the bands followed by the LR4 shooting past it on the following candle. It works on any time frame from 5 min to monthly or longer.
Practice and experience will give up to about 80% successful trades, with 15 to 20 pips on 10 - 15 min charts and 50 to 100+ pips on hourly charts.
Daily charts usually signal 250 to 400+ pip changes in trend with a lot of practice.
In conclusion I must say that I did not invent this method, it was discovered by a trader using Intellicharts about 10 years ago. All I did was refine it slightly and pass it on to the Global1 training group leader Rick Young.
Rick Young used pictures to describe its operation... the Candles being sheep/cattle, the Bollinger bands the fences and the Linear Regression was the "cattle dog" that chased the cattle back into the paddock thru the fences. About a month later I gave it the name "Kelpie Trade" after the world famous Australian cattle/sheep dog the Kelpie.
Dan Gaub was a learning member of the Global one group back in those days and he added the Kelpie Trade to his arsenal of trading methods.
To his credit he never changed its name, he never changed anything about the method I presented to GlobalOne, and he always maintained that it was his main method for making pips in trading.
R.I.P Dan Gaub 1959 - 2012
Respected All
last 3/4 months i am finding heigh & low position for buying & selling, i think l-regr good for this
regards
chinmay