PriceChannel Parabolic system - page 13

Sergey Golubev
Moderator
116940
Sergey Golubev  
TAL1983:
I think the RSI is better-still the how do you know when to exit from the trade since the exit point appear/disappear so quickly, you can exit the trade with few pips or less (sometimes even with loss) cause you need to wait for closing candle? Or maybe you close as soon as the exit point shows up (don't care if it's disappear or not)? I mean if I see "X" I close the trade immediately no matter what?

Trading on open bar is difficult because any signal can appear and disappear any time (buy signal may be changed to sell signal and so on). AsI know - some traders making scalping on open bar. 

As to exit so we can exit when we want - this exit signal of indicator is just a proposal - because many traders are using something as 'first take profit level', 'second tp level' ... if many exit signals so it may be partial closes.

yes, I agree - RSI is good for exit. 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Trade Constants / Order Properties - Documentation on MQL5
Sergey Golubev
Moderator
116940
Sergey Golubev  
newdigital:

And the other update of this system, and for now - with Absolute Strength Market indicator:

 

Absolute Strength Market indicator is showing the market condition for any timeframe. For more explanation about market condition (bearish, bullish, correction, bear market rally etc) - go to this thread. 

There is good news for now - AbsoluteStrengthMarket is already uploaded to CodeBase here (in russian language sorry but it will be available in english soon). Just to remind - this is indicator to check market condition automatically in multi-timeframe way. Means: indicator is doing exactly what I described here about market conditions. 
Sergey Golubev
Moderator
116940
Sergey Golubev  
TAL1983:
Now if you use the AFL winner you don't need the RSI?

This is the image about how to use AFL Winner indicator:

 

Sergey Golubev
Moderator
116940
Sergey Golubev  
And as we see - AFL winner indicator is not lagging - it is very fast, sometimes faster than PriceChannel signal indicator. I think we can use this AFL winner indicator as standalone indicator for example.
TAL1983
21
TAL1983  
So as a result I think the best way is to open trade once the price channel alert on and close once the AFL winner shows a different color (correct me if I worng)
Sergey Golubev
Moderator
116940
Sergey Golubev  

May be ... I just explained about how to use AFL indicator as standalone indicator.

I will try to trade this setup just to see how this 'theoretical rules' will work in action.

TAL1983
21
TAL1983  
I tried this yesterday on GBP/USD and it's work- hopefully it will continue
Sergey Golubev
Moderator
116940
Sergey Golubev  

I want to try but I created the signal ... so ... to test this scalping - I will need to stop the signal ...

I will try on Monday anyway as I like scalping. 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Symbol Properties - Documentation on MQL5
Sergey Golubev
Moderator
116940
Sergey Golubev  
Just some reminder to the members - we are talking about this indicator now: AFL Winner
Sergey Golubev
Moderator
116940
Sergey Golubev  

Just installed MT5 for testing this scalping setup tomorrow: