The Cowabunga System

[pipalot]

Hi everybody,

From now on, all my MT4 Cowabunga Indicator related posts will be made only in the separate thread that already exists (it's the thread called "Cowabunga system MT4 indicator"), rather than cluttering up this main Cowabunga thread. That way this thread can be used mainly by folks discussing Cowabunga trades / theory etc, since not everybody uses MT4.

Maybe we'll have a Cowabunga Expert Advisor at some point too. I might try to write one eventually.

Regards,

Pipalot

[butter143]

hi guys,

this is my first post here. i want to say that i like the cowabunga method and i'm going to demo it awhile. it looks promising. i hope to get results like you guys are getting.

i'm confused about something. pls i need clarification on something, i want to know do we take the trade as soon as the EMAs cross(with the other indicators being correct as par the trading rules) or we enter on the next candle AFTER the cross?

thanks in advance guys.

[Cowaboi]

Hi, enter once the candle closes, so the open of the next candle - we need to make sure the indicators close at the levels required to generate a valid entry, as per PipSurfer's rules.

Good luck with your demo trading. Keep us posted with your progress.

[butter143]

Originally Posted by Cowaboi

Hi, enter once the candle closes, so the open of the next candle - we need to make sure the indicators close at the levels required to generate a valid entry, as per PipSurfer's rules.

Good luck with your demo trading. Keep us posted with your progress.

thanks cowaboi, i wasn't expecting a reply that fast. thanks again.

just so i get it right, i enter on the close of the candle on which the cross occured as long as the indicators give a valid entry, that way i'll be in by the next candle,

and if by the end of the cross candle, things change then we don't enter. am i correct?

[Cowaboi]

Yes, that's it.

[iluse]

Thanks for this great simple system

Could somebody post a template? My OSMA is always positive (15M GBPJPY) or was positive previously. Never even close to negative.

Originally Posted by pipalot

Hi VonSmeid,

1. You are right, if you want to rely solely on the Cowabunga2 indicator then that's probably fine, the only reason that I also display the MACD Histogram indicator (OsMA) on my charts is simply so that I can manually check what the Cowabunga indicator is saying and also to make my charts look like PipsSurfer's. It's really just double checking, that's all.

2. Lets not confuse the MACD value with the MACD Histogram value. Cowabunga relies on the MACD Histogram value which is calculated as the difference between the two MACD lines. In MetaTrader4, make sure you are looking at OsMA (MT4 name for the MACD Histogram) not the plain MACD indicator. Anyway, that said, the Cowabunga rules for a signal for a long trade requires OsMA to be increasing and to be negative, unless it has just moved to positive from negative. In other words, OsMA can be positive so long as it wasn't also positive in the previous candle.

I hope that helps.

Regards,

Pipalot

[dblock]

sup pimping,
i just dowloaded the cowabunga2 SYSTEM to my mt4 trader but i'm unable 2 use it does it require subscription or key?thanx

[pipalot]

Originally Posted by dblock

sup pimping,
i just dowloaded the cowabunga2 SYSTEM to my mt4 trader but i'm unable 2 use it does it require subscription or key?thanx

No it doesn't require any of that. Make sure that you put it in your experts/indicators directory. Then compile it. Then close and re-open MT4, just to make sure. Then apply it to your chart my latest updated version Cowabunga- Any Pair.MT4 Downloadable from the thread mentioned below:

Originally Posted by pipalot

Hi everybody,

From now on, all my MT4 Cowabunga Indicator related posts will be made only in the separate thread that already exists (it's the thread called "Cowabunga system MT4 indicator"), rather than cluttering up this main Cowabunga thread. That way this thread can be used mainly by folks discussing Cowabunga trades / theory etc, since not everybody uses MT4.

... Pipalot

[pipalot]

Originally Posted by iluse

Thanks for this great simple system

Could somebody post a template? My OSMA is always positive (15M GBPJPY) or was positive previously. Never even close to negative.

The template for Cowabunga and my latest version of the indicator can be found in the thread mentioned below:

QUOTE=pipalot;26762]Hi everybody,

From now on, all my MT4 Cowabunga Indicator related posts will be made only in the separate thread that already exists (it's the thread called "Cowabunga system MT4 indicator"), rather than cluttering up this main Cowabunga thread. That way this thread can be used mainly by folks discussing Cowabunga trades / theory etc, since not everybody uses MT4.

... Pipalot[/quote]


Regards,

Pipalot

[pipalot]

In case anyone still has any trouble finding the separate thread for my Cowabunga template and latest Cowabunga indicator (both for MetaTrader4), it is at:

Cowabunga system MT4 indicator

Kind regards,

Pipalot