Cowabunga system MT4 indicator

[ybop01]

This is an indicator for the Cowabunga system. See:

http://www.babypips.com/blogs/pip-my..._school_o.html

[ybop01]

The latest version. Should be pretty obvious how to use.

Unzip and put in the //metatrader 4/experts/indicators folder and restart MT4

[stdummy]

ybop When I unzip the file there are 2 icons that appear. One that contains mt logo. The other is Microsoft windows uknown file icon. The MT icon will export to mt4 site but the other icon will not. I also placed in expert folder but nothing appears when I apply it to charts. Do not know what problem is. Thanks, jerry

[ybop01]

Both icons should be put into the "experts/indicators" folder, restart MT4, and you should find it listed as one of the available indicators. Alternatively, you could try just opening the ".mq4 file and then compiling it (F5)

Anyone else having problems or know what stdummy might be doing wrong?

[pippimp]

Ybo.

Have you backtested this system? If so, how long and what were the results?

Is this only good for a single currency pair ? If so which one? or is this good for all?

Thanks
Theo

[ybop01]

Originally Posted by pippimp

Ybo.

Have you backtested this system? If so, how long and what were the results?

Is this only good for a single currency pair ? If so which one? or is this good for all?

Thanks
Theo

It's not my system, it is "Big Pippins" and questions related to it should go to him after of course reading http://www.babypips.com/blogs/pip-my..._school_o.html

All I've done is made an indicator for it.

[stdummy]

ybop done that, got it to MT4 will it only show when crossover occurs? and what will it do/look like when this happens

[ybop01]

Originally Posted by stdummy

ybop done that, got it to MT4 will it only show when crossover occurs? and what will it do/look like when this happens

When a valid combination of signals occurs, a red/blue line appears below/above the graph. Red - go short, Blue - go long. Of course you have to be watching it so that you catch it. It just makes it a little easier to check than manually. On the 4 hour chart it displays at a glance using these lines, what the current longer term cowabunga trend is. It takes into account all the signals that big pippin uses.

[topgun]

Nice job on the indicator. I think Big Pippin said the trend is not valid if Stoch and/or RSI is in oversold/overbought territory when the moving averages cross and that it is not a valid signal so he won't even look at the 15 min chart (See quote from Big Pippin below). I am going to manually gauge how it works. I am going to check out your coding but would it be tough to have it send an email (SendMail) at the start of the buy or sell signal on the 15 min chart? Again nice job!


"I see what you are saying, but the answer is no. The criteria on the 4hr chart only has to be met for a trend change candle. As long as a valid trend change candle has been made (MA cross, RSI above/below 50, stochastics not overbought/oversold) then you can look for trades in that direction from there on out until the 4hr chart makes another valid trend change candle in the opposite direction. The whole point of the RSI and stochastics settings is just to make sure we are not entering a trend too late or early. For example, if you had an MA crossover for a long trend but Stochastics are already overbought then it means you might be too late. Or if RSI is below 50 then you might be jumping in to early. Once the trend change candle has met those criteria, then it means we have entered a trend at the right time. From there on out you don't have to continuously meet those conditions in order to look for trades on the 15 minute chart."

Originally Posted by ybop01

When a valid combination of signals occurs, a red/blue line appears below/above the graph. Red - go short, Blue - go long. Of course you have to be watching it so that you catch it. It just makes it a little easier to check than manually. On the 4 hour chart it displays at a glance using these lines, what the current longer term cowabunga trend is. It takes into account all the signals that big pippin uses.

[ybop01]

Found a logical error in the coding that caused it to miss the last signal. I'm doing a major rewrite that hopefully will incorporate the 4 hour signal on the 15 minute chart and generally tightening up the code. Will post again when it is done.

Sending an email alert should be pretty simple but I will wait till I have the coding logic all sweet first.