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Trading on PIP Range Bars !! - page 2

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WilteredFire
108
WilteredFire  

Thanks gilbert for the wonderful things you have shared with us here. May God bless you abundantly for your kindness in sharing here with us all.

Hope we all have some happy pips ahead of us using this chart Have a good weekend!

4xonly
65
4xonly  
desander:
Nice to see that you like my posts.The different MA-types should be included in the scroll down menu from the DoubleMA-indicator. (see attached file)Also please see that all your indicators are set exactly as shown on the prev. attached indicator-settings !Let me know if you find it, OK?Please keep replying until you feel comfortable with the settings.Nice weekend to go,Gilbert.

Hi. Thanks for replying. You can see in the 1st pic what I get from the scroll down menu. In the 2nd pic you see my chart without the emas. I followed your pictures religiously apart from the dashed yellow lines, which display in your chart but are not set up like that in the settings you displayed. Also I see the white bars coming out from your settings, while they're not displayed either in your chart. I hope you can help sort this out soon...

Files:
chart.gif 124 kb
desander
344
desander  

See this one more snap shot in real time this morning (30/10/2009)

Gilbert.

PS. Notice the very short position times !

Files:
ElDee
3
ElDee  

Hi Desander,

I see you are from Belgium - my Dad was born in Ostend but came to UK at start of WW2 - we still have a lot of relatives there and visit every year!

Thanks for the thread - very interesting, my first time using pip range bars though my buddy Alright has been trying to persuade me to look at them for some time now!

One question about the DoubleMA indi, on your screen shot you are showing ZeroLagEMA and ADXVMA - neither of these options appear to be available in the indi that you attached - is there another version or have I missed something?

Regards

desander
344
desander  

Now i see why you can not choose the two MA-options...!

You have to install the new (modified) indicator.

First go to the Control Center :

Tools/Edit NinjaScript/Indicator...

and select DoubleMA and choose Delete (old one)

Then install the new one (see attached)

Once again, don't forget to set all the indicators and your chart properties as published earlier.

To Import the new indicator (as usual for NT)

1. Download the attached file to your desktop

2. From the Control Center window select the menu File > Utilities > Import NinjaScript

3. Select the downloaded file

Let me know if it works, please.

Gilbert.

4xonly
65
4xonly  

Finally I got it working, thanks.

There some still some differences with your charts, but it's ok.

Now if you could define the entries and exits better...

My take: for longs: blue bars above green line and ECO2new2 indi above zero. Exit on red bar below green line.

The opposite for short. Am I correct or maybe there is more to it?

Also, so you suggest other pairs than GU?

Thanks again for everything, desander.

Files:
range_bars.gif 178 kb
desander
344
desander  

First of all, i would make the ECO-window higher so that the price window gives more smoothness. You may eventually take half of your chart...

Then i would disable the white bars on the ECO-indi. (see new settings attached).

For entry long, price must be breaking above the white chop-dots, bar must be blue, MA-line must be green and ECO-indi must be reaching the zero-line or just crossing (The ECO-signal line has already crossed its own histogram line).

You can place a hard stop if you like on the chop-level, but as this trading is based on short time , you have to stay on the platform, so exit (quit) if the price falls again torough the chop level.

If the position is going the right way, then exit as soon as the bars enter the other side of the green line.

Same for short positions of course...

But if one wants to stay longer in a trade, then simply go long when ECO-indi. go's on GREEN and exit when crossing to RED...

I included i snap shot for that way too,

You can trade the EUR/USD as well, but i would leave the other pairs aside. (too choppy)

Try it out for your self.

So, i quit the market right now.

I had my good (trading)week.

Since i live in Panama (central-America) and we have a nice sunny day,

let's prepare a fine salad and enjoy the other part of live !!

Nice weekend to all of you.

PS. I don't leave the forum, just quit the trading for this week.

Gilbert.

Files:
ECO2New2.png 57 kb
WilteredFire
108
WilteredFire  

Finally got my chart to look like yours lol. Thanks once again for keeping us updated about how to adjust our charts. What kind of stop losses do you generally use on Gbp/usd or Eur/Usd?

Thanks

desander
344
desander  

As i mentioned already before, IF you like to place a hard-stop, then use the white chop-dots as your stop.

If you want to take the whole trade (the longer one), then move your stop to the next chop-level, after going higher...(see prev. chart)

But i personally don't use a stop, i watch my price action and quit as shown on the prev. charts.

Gilbert.

4xonly
65
4xonly  

Thanks desander. 2 more questions when you have time.

No matter the order we get the indicators aligned, would we enter at any time?

About re-entries, if we're out of a trade and the indicators align again in the same direction, shall we enter again? Thanks

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