Cowabunga system MT4 indicator

[nubchai2]

Hello. I installed Matt's v3 of Cowabunga and on the 15 min USD/JPY chart for example I see red arrows under some of the candles. Going back to December I see blue candles above the candles indicating an uptrend.

I had 2 questions:

1. When the Cowabunga criteria are met what will I expect to see on the chart? Will it be the red downtrend arrow or blue uptrend arrow? I know there's an audio alert but wondered if there was anything else displayed when the alert hit.

2. Also I updated the script to turn sendmail to On. But where do I put the amil address to send the alert to?

Thanks for any help.

[mattzigs]

Cowabunga Question
Hello. I installed Matt's v3 of Cowabunga and on the 15 min USD/JPY chart for example I see red arrows under some of the candles. Going back to December I see blue candles above the candles indicating an uptrend.

I had 2 questions:

1. When the Cowabunga criteria are met what will I expect to see on the chart? Will it be the red downtrend arrow or blue uptrend arrow? I know there's an audio alert but wondered if there was anything else displayed when the alert hit.

2. Also I updated the script to turn sendmail to On. But where do I put the amil address to send the alert to?

Thanks for any help.

Hi Nubchai

To answer your questions:

1. On the 15 min chart, the dotted lines are the trend (4H) but you must have the 4H chart open with the indicator on it, and the arrows are the trade signals along with the audio alerts - but be careful with the trade alerts, they have to be verified - I've edited my post #135 to give more information on the indicator, you should read it.

2. In metatrader got to Tools Options Email and input your email info there to activate the email alerts.

Hope this helps

Cheers Mattzigs

[nubchai2]

Originally Posted by mattzigs

Hi Nubchai

To answer your questions:

1. On the 15 min chart, the dotted lines are the trend (4H) but you must have the 4H chart open with the indicator on it, and the arrows are the trade signals along with the audio alerts - but be careful with the trade alerts, they have to be verified - I've edited my post #135 to give more information on the indicator, you should read it.

2. In metatrader got to Tools Options Email and input your email info there to activate the email alerts.

Hope this helps

Cheers Mattzigs

Hi Matt. Thanks for the reply. Do the arrows that go with the trade alerts appear on the 15 minute chart or on the 4H chart? Are perhaps these the red and blue arrows that I see on the 15 minute chart? So these arrows indicate possible entry points for long and short positions then.

I did reread the post you mentioned and understand about confirming the signal. It looks like a very neat tool. Thak you for your help!

Nub

[hypnos63]

hi

how do you decide which is 'the trend change candle' on the 4hr chart using the cowabunga system? what are the criteria?

please forgive me if this isn't the right thread.

thanks

hypnos63

[bman]

I would like to get a quick survey on the track record of the traders here using MT4 with the Cowabunga templates/alerts. Could some of you give me your profit/loss ratio using this system.
I have been testing it sinse the begining of the year and I have noticed that the alerts given tend to be profitable about 60% of the time.
I would apreciate anyone sharing their experience with this system.
Thanks, and good luck.

[hypnos63]

Originally Posted by bman

I would like to get a quick survey on the track record of the traders here using MT4 with the Cowabunga templates/alerts. Could some of you give me your profit/loss ratio using this system.
I have been testing it sinse the begining of the year and I have noticed that the alerts given tend to be profitable about 60% of the time.
I would apreciate anyone sharing their experience with this system.
Thanks, and good luck.

i have a cowabunga indicator, but i have not had satisfactory results. these have been empirical as i have not kept a written record, but i remember every time it let me down. the alerts come when i'm asleep, and quite a few if them have been fake outs.

i search manually now.

btw how do you satusfy yourself that you have a trend candle on the 4HR chart?

thanks

hypnos63

[hypnos63]

Originally Posted by bman

I would like to get a quick survey on the track record of the traders here using MT4 with the Cowabunga templates/alerts. Could some of you give me your profit/loss ratio using this system.
I have been testing it sinse the begining of the year and I have noticed that the alerts given tend to be profitable about 60% of the time.
I would apreciate anyone sharing their experience with this system.
Thanks, and good luck.

also, that indicator gives bizarre readings. if you look at AUD/JPY for the period
01/15/08 0800 am -01/23/ 0000 pm on the 4 HR chart,it say that is an 'uptrend' but as you can see it is covered with red. if you draw a trend line thru it, the trendline says down.

can anyone or perhaps you give an explanation? i'm hard pressed to see how this system earned its rep.

thanks
hypnos63

[nubchai2]

Thanks again Matt. I have it all installed and played with it a bit today. I did run into at least one bad signal on the USD/JPY chart today. But it was obvoiusly wrong. I'm a fan of the Parabolic SAR and I was using that for trend confirmation too. I also had a couple of good signals today. So I plan to keep working with it.

Thanks for your efforts and kindness in answering my questions.

[linxtips]

Originally Posted by hypnos63

also, that indicator gives bizarre readings. if you look at AUD/JPY for the period
01/15/08 0800 am -01/23/ 0000 pm on the 4 HR chart,it say that is an 'uptrend' but as you can see it is covered with red. if you draw a trend line thru it, the trendline says down.

can anyone or perhaps you give an explanation? i'm hard pressed to see how this system earned its rep.

thanks
hypnos63

hi,

if you read the whole thread you will see that nobody was complaining about version 2, so maybe you could try that one!
under version 3 you have a note that it gives many false signals and that you have to verify it by yourself before you enter.
More about the rep could be found on the systems blog and in other posts.
Further, the system was designed for cable only and not for other pairs, but it is said that it could work.

hope this helps!

[mattzigs]

Originally Posted by hypnos63

also, that indicator gives bizarre readings. if you look at AUD/JPY for the period
01/15/08 0800 am -01/23/ 0000 pm on the 4 HR chart,it say that is an 'uptrend' but as you can see it is covered with red. if you draw a trend line thru it, the trendline says down.

can anyone or perhaps you give an explanation? i'm hard pressed to see how this system earned its rep.

thanks
hypnos63

There are many ways to determine the trend and many time frames for a trend, the main thing is to be consistent for the system you are using. The Cowabunga system uses a specific method for determining the trend, if you are not familiar with this I suggest you go over ALL of the Cowabunga basics in Pip My System. Read and re-read this information until you understand it.

I would also read the Cowabunga System and Cowabunga MT4 Indicator threads - 95% of the questions that have been asked have been posted and re-posted on these threads, then paper trade until you get the same results or similar to Pip Surfer.

Hope this helps, Cheers Mattzigs