A Basic Breakout System

[Maverick731]

johnny how do you create the custom indicator we need in MT4?

[johnnykanoo]

here I got this from ff, its post number 8
http://http://www.forexfactory.com/s...ad.php?t=95328
if this link doesnt work follow elang's link earlier on this thread.
do you understand this system? im looking over all the examples and I sort of get it but then i think im off. i see P1 where the price breaches the line, I see P2 where price corrects. but P3 is a little confusing to me. when elang refers to "pivots" what exactly does he mean because the examples seem to be subjective. I can't see consistently one extreme or the other or a median price of the wave. Im still trying to figure it out.

[Maverick731]

I understand it a bit...right now I'm trying to get it set up, the only thing I have done sofar is draw the support and resistance lines for gdp/usd sofar

thanks, using it now

I'm new to MT4, is there anyway just to draw a parallel line, w/o it being extended forever?

[Maverick731]

ELANG please correct me If I am wrong with this...

but this is my analysis of GDP/USD one day for an example to the person above me asking.

I would have set a SL=50pips Profit=50Pips, could have easily set profit to be greater....but I didn't get greedy!!!!

Basicly you can see I entered the currency short the next time it hit the extreme...

[Maverick731]

Effi now I'm looking at your charts and some others and I'm trying to backtest it...


Well its not really clear to me how to enter (short/long), in some charts you go long and others you go short when the same exact event happens


Can you be more descriptive of "Once the price breaches the corrections' PP, the trade is executed"?

Thanks for the system

[johnnykanoo]

WHY DID YOU EVEN BOTHER TO START A THREAD HERE????
trying to increase your notoriaty on ff??? Im getting sick of it. people are popular there and try to increase there following by coming here but then they dnt answer questions. what next you gonna charge for your signals too????

[Sweet Pip]

Originally Posted by Maverick731

I understand it a bit...right now I'm trying to get it set up, the only thing I have done sofar is draw the support and resistance lines for gdp/usd sofar

thanks, using it now

I'm new to MT4, is there anyway just to draw a parallel line, w/o it being extended forever?

Hi Maverick,

Took me awhile to find out how to do that too but eventually I found that using trend lines with the "Ray" box Un-check, you can draw lines any which way without the line extending past the end point. Right click on the trendline, goto trendline properties and select the parameters tab and the "Ray" box is there.

Hope that helps

[elang]

Originally Posted by johnnykanoo

WHY DID YOU EVEN BOTHER TO START A THREAD HERE????
trying to increase your notoriaty on ff??? Im getting sick of it. people are popular there and try to increase there following by coming here but then they dnt answer questions. what next you gonna charge for your signals too????

WHY DID YOU EVEN BOTHER TO START A THREAD HERE????
- Shared information can benefit others

trying to increase your notoriaty on ff???
- Yes, spot on................*sarcasm dies out*................. UNBELIEVABLE!!!

Im getting sick of it.
- 911 i believe is the safest approach to your problem

people are popular there and try to increase there following by coming here but then they dnt answer questions.
- I see popularity is of striking importance to you. I'm afraid i don't share the same motivation.

I have 755 Posts in BP and 962 in FF.

what next you gonna charge for your signals too????
- "Next" would be an inappropriate term within this context as it refers to the future. The positive answer to your question is a fact established in the past.

Either way however, seeing as i screen the people i give signals to, your negative attitude would have the better part of me place you directly in the trash can, and you'd never get a taste of the likes of these returns, because you're ignorant, arrogant but more than that inconsiderate of your actions or words as you have proven here to myself and others, and if i could i would gladly keep you in the loosing herd of the market to teach you humility, but from my experience with that temper and approach, i won't have to bother.

X

And of course, last but not least. Mind your own business.

Have a good day.
E. Lang

[elang]

If anyone needs questions answered they can visit the original thread located in forex factory. Threads in FF always expand faster and more professionally due to the presence of strict moderation, full time traders and the sheer mass of the member database. You will find a lot more information available there and questions asked and answered.

For the remainder of you who do not have the patience to do so you may add me to Skype, my username is effilang and i will converse with you personally. My contact details have always been available on this website, E-Mail + 3 Messenger addresses.

If your question was so IMPORTANT, but you were too lazy to go to the original thread for an answer or to click on my profile, then you probably don't deserve to know the answer.

You may also visit this Chatroom, which is open everyday for questions.

Best Regards and Good luck to all,
E. Lang

PS: Anyone apart from the likes of whoever it was that just flamed me, or other people possesing the same characteristic traits.

[elang]

johnnykanoo,

Kindly confirm if you're going to continue the debate you initiated or withdraw, i don't like leaving discussions open.

Regards,
E. Lang