Cowabunga system MT4 indicator

[soulja4lyf]

Has anyone noticed that the "cowabunga_any pair V2" Does not give all the signals that PipSurfer gets! My broker is Alpari-UK and I think that is the reason why I do not get all the same entry signals as PipSurfer. I don't think that there is any problem with the coding. However, because I am missing out on some valid signals which PipSurfer takes, I find it necessary to tweak the code to suit the data recieved from my broker. It has come to my attention that the signals that were not detected by the "cowabunga_any pair V2" on my platform all showed that the OsMA had already gone from + to - or from - to + therefore negating the signal. So, I have modified the code to allow the OsMA to be upto and including the second bar i.e. for going long the OsMA can be already + on the second bar but not beyond etc. This is all illustrated below. If anyone else has had the same problems please let me know. Thank you.

P.S. I have reviewed some of the signals produced by my modification and they seem to be acceptable. However, if you notice any problems then please inform me.

[JohnnyFOREX]

Is there a way to view all the attachments only (like in ForexFactory)?

Thanks, Johnny.

[JohnnyFOREX]

Hi s050399b,

Does this code change (post #399 re arrows after candle close) apply to the "Cowabunga_anypairV2" (ie. does it need to changing to show this correction? If so ... any chance you could please attach a V3 with the required coding correction?

Many thanks, Johnny.

P.S. Actually, I think it may be better to have the arrows paint as soon you get an EMA cross (or have it user assignable). This way an ALERT would be received as soon as an EMA cross occurred ... giving you time to prepare to enter on candle close if your focus was not on the charts at the time.

I think the important thing is to actually be able to enable multiple alerts to trigger (not just the first trigger of the day) ... this would be much better than having to exit MT4 and start again.

Just my over-night thinking that's all .

[purpleflamingo]

Good afternoon,

I was wondering if someone could confirm if I have my settings correct on MetaTrader. I have done the following and my settings have had to be edited to the ones in brackets as I was not able to do them exactly as directed.

4hr. Chart Settings:
• 5 EMA applied to the close (with Shift: 0)
• 10 EMA applied to the close (with shift:0)
• Stochastics (10,3,3) (Use slow and simple settings) (%K Period= 10, %D Period= 3, Slowing= 3, Price field= Low/High, MA method= simple, Fixed minimum = yes at 0, Fixed Maximum = yes at 100)
• RSI (9) (Simple) (Period = 9, Apply to close, Fixed minimum = yes at 0 Fixed maximum = yes at 100).

15 Minute Chart Settings:
• Settings same as noted on H4 one above apart from histogram.
• MACD (12,26,9) (Exponential histogram)- Make sure the histogram displays the difference between the 2 lines (Fast EMA = 12, Slow EMA = 26, MACD SMA = 9, Apply to close, I have left the fixed minimum and fixed maximum boxes unchecked here as you need to specify a number, it is unchecked as default.)
Also I have put the Cowabunga anypair V2 onto the 15 min chart.

Firstly, I was hoping someone more experienced and familiar with MetaTrader can say whether these are right or if I need any changes. That would be so much appreciated.

Also, I have 4 months demo trading experience and back tested to have a year worth of trading data of using the settings on the H1 chart (I have done with and without the histogram and it doesn’t help on the H1 chart……or I have it setup wrong). There is definitely good potential but the amount I need to invest per trade is high to cover stop losses being triggered before the trade gets going (if it is right). I need to save further to make sure I can have a good balance in order to use some reasonable money management before I start trading the H1 chart.

On this basis I have done some back testing on the 15 min chart and using the H4 one as a guide in the hope of perhaps finding a way of trading to start with using smaller investments (to cover the initial price fluctuations) on the 15 min chart. I am not sure I have the settings correct:

1. If I manually look at the charts and wait for the signals to line up (quite often the Cowa. arrow doesn’t accompany trades I would have done) and they are right.

2. Also though, often the signals don’t line up and the arrow is there and the trade would have been right. On this latter point it is always the histogram that stops me from entering. I am wondering especially if this is setup wrong.

3. Finally if I was to just follow the Cowa. arrows and ignore the collective chart signals quite a few of these are wrong.

There does seem to be some potential but as you can see quite a few grey areas.

So I am thinking I hope someone may have advice on my settings.

Finally I am thinking of starting on the 15 min chart and just following the manual signals and trend on H4 chart as a guide and ignoring the Cowa. Indicator arrows.

Any advice would be very much appreciated.

Long message................I know...sorry!

Thank you so much for any time and advice you may have

[kon]

Hello All,

I am new to this thread, but I have read both sticky's regarding the Cowabunga system and indicator.

Don't the EMAs always have to cross before a buy or sell signal? I have attached a picture of a down arrow where the EMAs do not cross. Also the RSI is above 50, which also shouldn't signal a down arrow. As purpleflamingo pointed out, looking at just the arrows might not be the way to go.

I am using Cowabung- anypairV2 on a demo account, along with the template and indicators provided by soulja4lyf

If someone could shed light on the matter, I would appreciate it. Thanks.

Kon

[Radiantraj]

I am having difficulty extrating the zip file for the cowabunga system. Can you please explain the process. I currently have it on my Interbank platform under indicators but it shows it as a zip file and i cannot extract it.

[phil838]

Originally Posted by kon

Hello All,

I am new to this thread, but I have read both sticky's regarding the Cowabunga system and indicator.

Don't the EMAs always have to cross before a buy or sell signal? I have attached a picture of a down arrow where the EMAs do not cross. Also the RSI is above 50, which also shouldn't signal a down arrow. As purpleflamingo pointed out, looking at just the arrows might not be the way to go.

I am using Cowabung- anypairV2 on a demo account, along with the template and indicators provided by soulja4lyf

If someone could shed light on the matter, I would appreciate it. Thanks.

Kon

At some point during the 15 minute candle the EMAs were crossed and the RSI was below 50, but the candle moved back up before it closed.

Remember, the arrows don't mean "this is a trade," they mean "you might want to look it this, it could be a trade."

[phil838]

Originally Posted by Radiantraj

I am having difficulty extrating the zip file for the cowabunga system. Can you please explain the process. I currently have it on my Interbank platform under indicators but it shows it as a zip file and i cannot extract it.

We're having problems with zip files all over the forums. I have no clue what's causing it.

Try downloading different unzipping software. Some people are reporting failures with one program and successes with another.

[kon]

Originally Posted by phil838

At some point during the 15 minute candle the EMAs were crossed and the RSI was below 50, but the candle moved back up before it closed.

Remember, the arrows don't mean "this is a trade," they mean "you might want to look it this, it could be a trade."

phil838, thank you for the clarification. It makes sense now. I know that system stressed to wait for the candle to close.

I will have to read the other thread to see when an arrow signals a "good" trade versus one that should be left alone.

[fxlionpromo]

very good analise.Thank you