Simple & almost naked. The dream date or the dream system?

Guys found something interesting.

Heya, im not sure if your interested, but i have found a way to make Stockneon’s EA run profitable.

It only takes 0.5 pips each time, but sometimes catches more.

I have a second EA running which closes the trade at 0.5 pips.

Not huge profits, but if run across multiple currencies, on the 5 min chart could provide a nice income.

There are 2 issues:

  1. The EA will trigger trades when the candles move past either trend line, even though we are using only one trend line based on the current coloured dots (as per Blizards strategy).

  2. Also if you start MT4 when the EA when it has gone beyond the trend line it will place a trade which you are notwanting to do a while after the trend line has been broken.

But if across multiple currencies, it could generate a nice number of low level pips.

Nothing sexy but who wouldn’t want an extra few pips a day on top of manual trading?

If Stockneon or someelse wanted to fix this it would work quite nicely.

If your interested let me know and i’ll post the other EA i have and what my setup it.

Im still testing it at the moment.

But so far 4 trades yesterday:

  • 2.2
  • 0
  • 0.5
  • 0.7

Below is todays setups, so two entries. So on the 5 min chart it is feasible. Maybe 2-3 trades a day on EURUSD.


I got a quick 9 pips here.


Nice Trade Darklighter. As far as my PT, “Based on S&R and/or Pivot point” would best describe my trading style. If im up 8+ pips and im approaching a SR level or fib, ill definitely take my profits.

Nice trades today on the 5 minute EUR/JPY chart.


hello Blizzard

In the end what swingzz settings did u choose ? 3 or what else? (for M1 trades)
and do u enter trade after the break candle has closed or during the move?

Cheers

Hi every one,
First I thank you all for your efforts and mainly Blizard for this great system. Please I need your help since I am using TradeStation v2 that does not offer Autodayfibs indicator. Is there any other alternative indicator to show the daily hi and low?.

thank you and regards,

I have found try 4 on 5 min chart, not as many opportunities as 2, but bigger gains :slight_smile:

I mainly trade the 5 minute chart now, each trade usually yields 10+ pips. I prefer the minbBar settings on “2” for the 5 minute and above time frames. For 1 the minute charts, i would recommend 3 or 4 for minBars. I only enter a trade once the candle has closed on all time frames.

thanks

i’ve been following this topic since the beggining, but I still didn’t had the time to trade it properly and the small amount of time I did had I wasn’t able to properly draw the lines, anyway i’ve been trying to backtest the EA but the results are account blown up. did anyone tried to backtest the EA ?

is it valid if closed only with the shadow or the whole body of the candle must break the level?

"I only enter a trade once the candle has closed on all time frames. " It means you trade with confirmation of higher TF with same concept? which TF you refering to if I may ask?

Thx again :slight_smile:

The body must close past the trend-line. Be careful however if the break of the trendline is close to the fib pull back sweet spot between the 61-76% of the larger movement. I have attached an image to explain. The candle closed past the trend-line however, not a good place to enter because of the sweet spot.

Also, i only wait for the candle to close on the time frame im trading usually 5 minute nowadays.

thanks


Hello, some nice setups today on the 5 min EUR/USD. To eliminate smaller movements / breakouts I have switched the minBars to “3” so I catch the larger movements alone going forward.



Blizard,
This was a perfect setup for a 10 plus pip trade. The dashed line is a 50 sma for trend. Read and black lines are pivots. When you have time could you review how to use fib retracements as SR to keep me out of bad trades. I’m only having a 50% win rate and need help. Should I just stay with the the eurusd and the gbp/usd?

Thanks,
Greg

Can SMA’s help to increase the acuracy of profitable trades ?

Sandybeach,

I wonder the same thing. I do feel that the set up I posted had a much higher chance of success because everything lined up perfectly, a retracement and then a continuation downward. Only going with the trend could be too restrictive.

Greg


I added a 200 sma. This sample trade is a trend trade using the method for entry. What do you think Sandybeach and Blizard and others???

Greg

Interesting to entry only when it bounce back to the ma, used then as dynamic S/R.

Btw I’d rather use a 50 EMA, not SMA

Cheers :wink:

PA close to a fib level doesn’t mean it will be a bad trade. Point is that this system is intended to scalp, so trading close to critical levels (fibo, but also keep an eye on big/mid figures and daily pivots) can means many things on a very short term that would affect our scalping

Hope it helps :slight_smile:

Greg Jones, interesting, the SMA’s are interesting, but we would need to test it more to ensure it works, but perhaps only taking trades in the direction of the daily trend is not a bad thing. It would mean fewer trades, but you could go for a few more pips per trade and perhaps watch a few additional pairs to compensate for loss of trades.

In the last day i have been testing this system on 4 pairs (EURUSD, GBPUSD, USDJPY and USDCHF). I have had 19 trades, 5 profitable and 4 non-profitable. If i had taken the trades only in the direction of the daily trend, then 3 of those losses would of been trades never executed and the last trade would not of been executed as the pair was sideways at the time of trading.

So i think alot of merit can be just to take trades on the 5 min chart in the direction of the daily trend. Doing something as simple as this may get rid of more false and losing trades and any other indicator or SMA lines.

This is the indicator i use to give me the daily trend.

ZCOMFX_daily_trend_2.zip (3.95 KB)

I find it quite helpful, it gives a simple arrow in the corner of the screen with a green up arrow upward, red down arrow and a sideways blue arrow if the pair is not trending and ranging.

It is quite accurate and has helped me alot !

SandyBeach,
Thanks for the indicator but I don’t seem to have it for fxcm. What I’m doing is a trial of 10 trades going only with the trend when the zz swing gives me an signal on the five minute. This would be entering after a retracement within the trend.

Greg