PriceChannel Parabolic system - page 14

Sergey Golubev
Moderator
116939
Sergey Golubev  

I started to trade this scalping setup but it is not easy for now - market is in flat and we need particular market condition to trade this scalping. Just to see:

 

Sergey Golubev
Moderator
116939
Sergey Golubev  

I finished my first trading day with this system. It was really difficult day - I estimated on Sunday evening to trade the following pairs: XAUUSD, XAGUSD and USDJPY. But USDJPY was reversed and I did not catch it in right moment/time, and got loss. I opened correct trade for XAGUSD and got profit, but I was not able to open one more trade for XAUUSD because of margins.

Anyway, I am in profit but it was not scalping sorry.

 

 

 

Sergey Golubev
Moderator
116939
Sergey Golubev  

I tried to identify the pairs for trading today and I think - we can consider USDCHF and GBPUSD.

  • USDCHF: breakdown may be going soon on H1 timeframe.
  • GBPUSD: bullish H1, H4 and D1 

Sergey Golubev
Moderator
116939
Sergey Golubev  

newdigital:

That's correct: latest version of PriceChannel downloaded from this post + AFL winner downloaded from Codebase here + MaksiGen_Range_Move MTF from here (optional; but I am using 2 MaksiGen indicators - one for current timeframe and the other one in MTF settings)

 Some problem with this scalping is the following: PriceChannel signal indicator is showing uptrend but AFL winner - downtrend :) It means that stop loss value should be small one for this system:

 

Sergey Golubev
Moderator
116939
Sergey Golubev  

I've already made 15 pips in profit for USDCHF today but I am waiting untill one more trade will be closed (for GBPUSD).

Generally, this scalping is not a scalping at all :) It is just a method to get 10 or 15 pips in profit in a day. 

Sergey Golubev
Moderator
116939
Sergey Golubev  
newdigital:

I've already made 15 pips in profit for USDCHF today but I am waiting untill one more trade will be closed (for GBPUSD).

Generally, this scalping is not a scalping at all :) It is just a method to get 10 or 15 pips in profit in a day. 

If someone will make EA according to this system so it may be necessary to have the following parameters:

  • Close all trades in the end of the day as false or true. "End of the day" may be 00:00 for example, or 23:00 according to MT5 broker time
  • Close all trades on Friday evening as false or true. 

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
116939
Sergey Golubev  

GBPUSD: if the price will cross 1.5638 resistance line (see red dotted line on the image) so we may have downtrend:

 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Drawing Styles
Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Drawing Styles
  • www.mql5.com
Standard Constants, Enumerations and Structures / Indicator Constants / Drawing Styles - Documentation on MQL5
Sergey Golubev
Moderator
116939
Sergey Golubev  
newdigital:

I've already made 15 pips in profit for USDCHF today but I am waiting untill one more trade will be closed (for GBPUSD).

Generally, this scalping is not a scalping at all :) It is just a method to get 10 or 15 pips in profit in a day. 

 

newdigital:

That's correct: latest version of PriceChannel downloaded from this post + AFL winner downloaded from Codebase here + MaksiGen_Range_Move MTF from here (optional; but I am using 2 MaksiGen indicators - one for current timeframe and the other one in MTF settings) 

 The other problem with this AFL Winner indicator is the following: the correlation between the indicator's value and the price moving may be lost sometimes. It means: indicator can show downtrend while the price is on uptrend. I think - we need one more indicator for this scalping system.

TAL1983
21
TAL1983  
newdigital:

 

 The other problem with this AFL Winner indicator is the following: the correlation between the indicator's value and the price moving may be lost sometimes. It means: indicator can show downtrend while the price is on uptrend. I think - we need one more indicator for this scalping system.

So ho to trade?? :(
Sergey Golubev
Moderator
116939
Sergey Golubev  

It is possible to trade. Possible but very difficult. This is my updated statement for this scalping system:

 

I think - we need to improve this system. AFL Winner indicator is fine but we need one more indicator ... may be - instead of PriceChannel signal.