Sunday Breakout Strategy - Page 112

JohnnyFOREX · #**1111** (**permalink**) 09-20-2009, 11:30 PM

Hi 's',

I think the issue I'm talking about is because FXCM whom I use is 5 digits and you guys have programmed for 4 digits. If you take a look at this morning's eMail generated you'll see the Buy is only 1 pip above the high, whereas it shold be 10 pips above ... I'm assuming this factor of 10 error is because its added 10 pippettes to the high, which results in adding only 1 real pip.

Candle High: 1.6245
Candle Low: 1.6208
ATR: 3597

OSP Buy: 1.6246
OSP Buy SL: 1.6208
OSP Buy TP: 1.6426

OSP Sell: 1.6207
OSP Sell SL: 1.6245
OSP Sell TP: 1.6027

Stop Loss (pips): 383
Target Profit (pips): 1798
Reward to Risk: 4.7

Set OSP Buy SL to BE when: 1.6323
Set OSP Sell SL to BE when: 1.6130

I've also discovered an irregularity in data feeds (regarding my discussion with Boston Technologies). My FXCM high shows 1.62449 yet your IBFX shows 1.6263 ... and to complicate things further, If I just box Oanda's start of week trading up til 0000, then their high was actually 1.62721

My long has already been triggered - so here's hoping, but I'm not sure how to treat my future week's entries???

I've attached the FXCM screenshot.

Firstfx · #**1112** (**permalink**) 09-20-2009, 11:53 PM

Quote:

Originally Posted by JohnnyFOREX

Hey guys - especially Phil838 and s050399b,

When you speak of charts needing to be in GMT and having to have the Sunday 2000 H4candle, I'm wondering were you actually aware of the following:

I had an extensive discussion with Boston Technologies yesterday (who develop and provide the MT4 platform to every broker). They advised me two important things:

1) Every broker's MT4 platform displays the same time basis (MT4 server). Currently this is set at GMT+1 (which is of course London local time during Northern Hemisphere daylight saving time). I 'presume' that in October when Northern DST finishes and Souther DST starts, then you'll find the MT4 timing will come back one hour to GMT (rather than the current GMT+1). This would indicate that the MT4 server is tied to London time, rather than GMT.

2) FXCM's data is one of the earliest feeds into MT4 to kick off the week, and this is currently at 22:15 London time. Strangely the first H4 candle during the Northern Summer is currently showing as 21:00 and I presume that during the Northern Winter this would no doubt become 20:00.

I live in Australia for what it's worth - so this system is a great add to the to toolbox ... I just attend it on Monday morning at 10am currently (or I'm about to anyway

).

Cheers, Johnny.

Hi Johnny,

Currently my Meta Trader 4 shows GMT time or London time -1 and not London time.

My current Eastern Standard Time is 22:47 on Sunday September 20 but my Meta Trader 4 shows Monday September 21 at 2:47 am. So that is only a 4 hour difference from my EDT which should put Meta Trader on GMT.

s050399b · #**1113** (**permalink**) 09-21-2009, 12:42 AM

Quote:

Originally Posted by JohnnyFOREX

Hi 's',

I think the issue I'm talking about is because FXCM whom I use is 5 digits and you guys have programmed for 4 digits.

which indicator did u download from? the official indicator linked from the 1st post did not cater for 5 digits. the temp indicator which is modified from this one also did not cater for 5 digits.

but this one should cater for 5 digits, could u try it out?
Sunday Breakout Strategy

JohnnyFOREX · #**1114** (**permalink**) 09-21-2009, 02:05 AM

Hi 's',

Thanks. I've just tried that one ... but it seems to be an EA rather than just an indicator, so I couldn't load it as just an indicator. When I loaded it as an EA I did not get the smiley face, just a cross - perhaps this is because the FXCM platform starts with a 2100 Sunday H4 candle rather than a 2000 ???

s050399b · #**1115** (**permalink**) 09-21-2009, 02:12 AM

Oh yeah!! I didn't program GMT offset and thingy into the EA,

considering that some brokers didn't have sunday data, so it isn't worth the effort to program GMT offset into it, hmmmmm,