Bollinger band trading with MAs

[Merchantprince]

wish I could trade London open, the London Breakout 1 strat is one I would like to trade !

I found the link from Cas for alerts, here it is

alert!fx™ - foreign exchange (forex) alerts.

Only problem with this is I don’t think my phone is loud enough to wake me up.

Thanks for that, Talon! I just got home from work and might not have enough chance to set it up tonight, but I will in the next 24 hours. I really think this will help a great deal. Let me know if you figure out before I do whether it can accomplish what we are talking about. I have been checking various MT4 sites to see if I could find an EA that would do this, but haven’t scored yet.

[TalonD]

apparently it can send text messages. But I have my iphone from work and don’t know if we are allowed to get text messages, I’ll have to find out tomorrow. If so, then I’ll sign up with that site and see how it works.

[Merchantprince]

apparently it can send text messages. But I have my iphone from work and don’t know if we are allowed to get text messages, I’ll have to find out tomorrow. If so, then I’ll sign up with that site and see how it works.

Yeah, the only drawback I see so far is that one must be using the DealStation platform or register for Forexnews’ Charts & News - both of which are only available for 30-day demos. So one must obtain these programs and then figure out whether they can do the crossover indicator we’re talking about (sounding an alert when one MA has a pip value equal to another).

[John4pips]

John

I look to S/R in almost the same way on all TF charts. On the daily S/R is usually characterised by flat tops/ bottoms on the 2:1 boll with a wick outside the 5:1 boll i.e. PA steps outside the 5:1 boll wicks on the breaking candle and closes. New candle wicks and changes colour and heads back into the 5:1 boll. On the 4h its the same but can be several candles. As I progress down the shorter TF charts 1h or less I rely on the 10:1 and 5:1 boll as confirmation of S/R as it will now almost certainly be several candles in order for PA to change course.

Now it just a matter of looking back according to the TF chart and dropping in a line or two at where PA has reversed course according to the above.

Now I look to the shorter TF charts to see what PA will do when it hits these areas. I use 15m and up. Usually I trade the daily but manage on the 1h TF.

RC,
Thank so much this.I am a bit confused about S/R on longer TF because i have been trading 1hr lately and i find 1hr relatively easier than the spasmodic movements of 15m and 5m.But what really confuses me is that i just keep second-guessing myself of the significant S/R in the 4hr and Daily.
I also notice that if someone is good at longer TF,he or she may not like to trade lower time anymore because the pips in the 1hr i got sometimes range from 120 and 220 between 7 and 12 candles.But it is hell of a work for someone like me who like to monitor his trade.

[John4pips]

Had someone try and argue with me on the Pound still being the strongest currency in the world. Even though the Pound has taken a hit it’s still the strongest major currency, Euro coming in a close second. I simply asked the person to name one single currency on parity or better with the Pound. Silence. Best they could come up with is the Euro and the EUR/GBP has never been higher than .98. I think 4 paperless petro-dollars beat it, and the Latvian Lat. I wasn’t 100% right(got to remember the power of the Lat next time), but wikipedia confirms it’s the strongest major currency(unless you count the Lat). A lot of experts cruising around cyberspace, so, be on your toes.

No doubt about it. Pound is the strongest currency in the world.I will prefer Pound to Dollar as the world currency.Does it surprise anyone that England refused to surrender pound after Euro came into existence?

[SanMiguel]

While we take this opportunity to watch GBP/USD do its customary afternoon flatline, I’d like to mention something of growing interest to me.

Seeing as the TalonD 1H Crossover is about as close to a license to print money that I’ve seen in my short experience as a forex trader, I was wondering about installing an EA to MT4 that would send an SMS notification to my phone every time such a trading opportunity arises.

These 1H crossovers of the 3/5/7/11 LWMAs at the mid boll of the 20:2 seem to occur at all hours, of course, including 2-6 am EST when most of us are sleeping (so we can get up as early as possibly for the London/New York overlap). I’d be willing to interrupt my sleep to trade this strat at any time.

So can anyone tell me if an EA exists for MetaTrader 4 which would accomplish what I’m seeking? I’m not currently using my MT4 for anything but 5m charts with STARC bands on them.
[B]I’m probably looking for something which would indicate when the 11 LWMA has an equal pip value to the mid Bollinger band. This would indicate when the last of the LWMAs is passing above or below that middle band.
[/B]
[ol]
[li]11 LWMA touches the mid Boll (both indicators having the same pip value.)
[/li][li]EA sends a text message to my cell (left on 24 hours a day).
[/li][li]Jump onto the charts to start looking at the 1h and lower TFs for the best entry point.
[/li][li]Make insane pips.
[/li][/ol]

I can do you an indicator with an alarm for this if you want?
I haven’t got that old EA that TalonD was talking about as I deleted it but it’s on this thread somewhere so I’ll have a search for it.

Anyone find that middle Bollinger line bounce to be quite annoying and unnerving? Been burnt by it a few times over the last few days. Anyone have any wise words for it? :mad:

When are you using it and on what TF?

[AndrewS]

No certain one, it’s just been a bit of task of late to judge when it’s going to bounce off or go on through. Especially rough judging on counter movements. :mad:

[AndrewS]

No doubt about it. Pound is the strongest currency in the world.I will prefer Pound to Dollar as the world currency.Does it surprise anyone that England refused to surrender pound after Euro came into existence?

No surprise here.

[R_Carter]

RC,
Thank so much this.I am a bit confused about S/R on longer TF because i have been trading 1hr lately and i find 1hr relatively easier than the spasmodic movements of 15m and 5m.But what really confuses me is that i just keep second-guessing myself of the significant S/R in the 4hr and Daily.
I also notice that if someone is good at longer TF,he or she may not like to trade lower time anymore because the pips in the 1hr i got sometimes range from 120 and 220 between 7 and 12 candles.But it is hell of a work for someone like me who like to monitor his trade.

I know exactly what you mean. Every now and then I look to the 15m and think theres a good quick trade. Quick is right! I close it quick when it goes against me.

I have found in the long term I cant better the 1h TF charts up… they seem to give consistantly clearer signals. On the 1h TF and up I look to wicks either outside the 5:1 or 2:1 boll and have a back up tunnel using 5 or 2 LWMA high/ low.

Just my personal choice… but I really do like to trade the daily managed on the 1h. A typical trade will last a few days and net considerably more pips than constantly trying to second guess the whipsaws on the 5m and 15m. Its better suited to traders who have a real job also. Plus you can always hedge during sleeping hours (or close out).

Plus if your taking say ten 5m trades a day thats 150 pips a week spread even before BE (heck I’m happy if I make that a week). Two or three trades a week and its only 6-9 pips.

[TalonD]

On my 1H, I don’t see it do this very often but last night the MAs dipped below center for just a little while before crossing back up and heading north. Don’t trust the Asian session.

SanMiguel,
if you do an ea to alert on cross over, can you make the MA values adjustable with an external variable? I’ll look at the one you did before, I don’t remember if it has that feature.
I also have that Heiken Ashi chart, don’t know if you could do something similar with that?

Robert, I said once before that I would end up on the daily charts…

NFP today, no trading for me

[R_Carter]

On my 1H, I don’t see it do this very often but last night the MAs dipped below center for just a little while before crossing back up and heading north. Don’t trust the Asian session.

SanMiguel,
if you do an ea to alert on cross over, can you make the MA values adjustable with an external variable? I’ll look at the one you did before, I don’t remember if it has that feature.
I also have that Heiken Ashi chart, don’t know if you could do something similar with that?

Robert, I said once before that I would end up on the daily charts…

NFP today, no trading for me

Mike I still like your 1h cross over strat. Maybe one eye on the daily, trade the 1h and two eyes on the 15m. Errr… thats three eyes

The analysts reckon EUR/ USD down 3% and GBP/USD down 1.5% over the next 7 days. NFP is Friday Mike but Thursday theres GDP Europe and Euro interest rate decision, so could be a roller coaster day.

[TalonD]

NFP, oops, I get my days mixed up, especially after being off for a week.

Interesting to hear what the analysts are predicting. Let’s see if they are right or wrong.

[R_Carter]

NFP, oops, I get my days mixed up, especially after being off for a week.

Interesting to hear what the analysts are predicting. Let’s see if they are right or wrong.

I see the Euro is running out of steam… might be good news for a short on GU.

[John4pips]

@R_Carter

I know exactly what you mean. Every now and then I look to the 15m and think theres a good quick trade. Quick is right! I close it quick when it goes against me.

I have found in the long term I cant better the 1h TF charts up… they seem to give consistantly clearer signals. On the 1h TF and up I look to wicks either outside the 5:1 or 2:1 boll and have a back up tunnel using 5 or 2 LWMA high/ low.

Just my personal choice… but I really do like to trade the daily managed on the 1h. A typical trade will last a few days and net considerably more pips than constantly trying to second guess the whipsaws on the 5m and 15m. Its better suited to traders who have a real job also. Plus you can always hedge during sleeping hours (or close out).

Plus if your taking say ten 5m trades a day thats 150 pips a week spread even before BE (heck I’m happy if I make that a week). Two or three trades a week and its only 6-9 pips.

RC,
Good point.I have never thought about this.I guess brokers will be more interested in scalpers because they fetch them cool pips.

.Yes.1hr TF is good but i am still learning some better strategy to reap pips other than the TalonD’s.

About daily trade,it can be scary if you see yourself down, say, 50pips typically before you start harvesting pips.It happened to me twice.
John.

[R_Carter]

@John4pips

RC,
Good point.I have never thought about this.I guess brokers will be more interested in scalpers because they fetch them cool pips.

.Yes.1hr TF is good but i am still learning some better strategy to reap pips other than the TalonD’s.

About daily trade,it can be scary if you see yourself down, say, 50pips typically before you start harvesting pips.It happened to me twice.
John.

Yep patience is a virtue on the longer trade.

[AndrewS]

Yep patience is a virtue on the longer trade.

Yep, been adjusting myself to the longer time frame charts, first trade based on the 4 hour was a 140+ pip movement, but still having a bit of trouble judging the daily and 4 hour movements in relation to the smaller charts. Mainly got burnt on a movement that busted through the resistance on the center band on the 4 hour. It’s been taking my patience to a new level this week.

[R_Carter]

I see the Euro is running out of steam… might be good news for a short on GU.

Wel I took my own advise and shorted EU & GU four hours ago and its looking good so far.

[AndrewS]

@R_Carter

Wel I took my own advise and shorted EU & GU four hours ago and its looking good so far.

Watching it with you guys on a price overlay, getting some resistance in the 1.6635 area. Mr. Carter, care to postulate on why this chart has all the top “most volatile” currency pairs as either Australian, New Zealand, or Yen crosses? Almost all Pound and Euro as well. I’ve got several ideas on why this is, but I’d like to get your opinion?

[John4pips]

Wel I took my own advise and shorted EU & GU four hours ago and its looking good so far.

Same here.

[d-pip]

why this chart has all the top “most volatile” currency pairs as either Australian, New Zealand, or Yen crosses? Almost all Pound and Euro as well. I’ve got several ideas on why this is, but I’d like to get your opinion?

AndrewS,
It’s usually about and against USD and to a degree EUR and YEN
i.e.
GBP/USD about 240 pips per day
AUD/USD about 160 pips per day
240 + 160 = 400

GBP/AUD = 400 pips per days

make sense?

PS sorry, pretty foggy explanation but hopefully you’ll get it! now where the hell did I put my ADD pills