The Cowabunga System

[bazooko]

I have added SAR and bollanger bands. I have also been looking at usd/chf and eur/usd. I only have a few minutes at night (est) I also look in the morining befor work and befor I goto bed. I have had some good success but I need to find a better stop loss. I tried a hard 100 pip stop loss. Bad Idea, the lowest point on of the privious candlse on the 4 hours chart is pretty good but I'm not always able to get the the cpu every 4 hours. I have also tried to set the stop to the SAR dot when placing the order. Mixed results.
does anyone else have some ideas to try?

[poulis]

The custom indicator that automatically gives the entry points with the arrows seem to have an issue in mt4 that I use. Please see the attached picture and you will see that it doesn't seem to accuratelly detect the trend.
When I look the 4H chart it shows an upper trend. The indicator in the 15 min chart is in red and it is designating a downward trend. Does anyone else have the same issue. Thanks in advance for all your help. Please keep in mind that I am new and if I am not clear enough tell me.

[ybop01]

I can't tell if on your 4h chart an uptrend has been triggered. It did on mine but it will vary depending on your signal provider. Both stoch lines must be ascending and one of your stoch lines looks flat which if so would negate an uptrend signal. That being the case the 4hr trend would continue to be down.

It looks like your 4hr chart would still be in downtrend according to the cowabunga rules.

[poulis]

Thanks for your prompt reply. It may be easier to see my point by the following charts. As you see all indicators are showing up in the 4h on Feb 22 arround 16:00. In the 15min it still shows downtrend. Am I missing something?
Again many thanks for all your work in this.

[rpforex]

I see that someone has come up with an indicator for the MT4 platform, but I use the VTrader platform and wanted to know if someone had come up with an indicator for this system that can be used on the VTrader platform.

[ybop01]

What you are missing is that all indicators are not pointing up in the 4h chart at the time you mentioned. One of the stoch lines is flat and unless both lines are rising, there will not be any uptrend triggered.

Originally Posted by poulis

Thanks for your prompt reply. It may be easier to see my point by the following charts. As you see all indicators are showing up in the 4h on Feb 22 arround 16:00. In the 15min it still shows downtrend. Am I missing something?
Again many thanks for all your work in this.

[poulis]

Thank you for your update.

[campoli39]

This is what the cowabunga system says are
"Exits

....Generally 50 and 00 levels will be your targets. You can also use any kind of support or resistance level as a target or you can just go for the amount of pips that you are risking. "

I don't know what is meant by 50 and 00 levels. Can someone please explain this to me. As much detail as possible please, as I really want to use this system.

Also how do i know what are the support and resistance. Do I have to manually calculate and draw the sup and res lines or does mt4 do it for me??

I am using metatrader4
thanks in advance

[campoli39]

I was also wondering if the person who coded the cowabunga custom indicator (or anyone else) could tell me if it's possible to get an alert sound to play when the up or down arrow is generated by the indicator?? Any help would be much appreciated.

thanks again.

[xmsr33]

As I understand it the Cawabanga system has us use 5 day and 10 day EMA to determine a trend in 4 hour charts,(I use 4 as its the closest Oanda has) and then determine an entry point by finding a point on the 15 minute chart where the 5 day EMA crosses the 10 Day EMA in the same direction.

Yet whenever I find 3 hour trends, the 15 minute trend is always different, or if its in the same direction, the trend is hours long and ending. By the time the trend reverses back to the original 3 hour trend, it seems that the trade is no longer valid to enter.

Can someone tell me what I am doing wrong? Is the 3 hour chart so different than a 4?