With Cowabunga, you set your target exit point based on the entry level and last swing hi/low. I believe it’s the closest of “the next 00 or 50 level” or “the same as the stop loss”. It’s contained in the explanations of the system.
What I do, is if I am here and watching it, I don’t place the order at the target; I instead set an alarm to warn me when it gets within 5 or 10 pips. If it clears hits the target with momentum, I will let the whole thing ride. If momentum slows or stops, or if it’s ranging when it hits the target, I will sometimes wait for the close of the bar, or sometimes I go ahead and take HALF my position off at the target. Then I let the other half ride, with a trailing stop of about 15 pips. If I wait for the close of the bar, and if it does make a clean break, I will move my stop to break-even, and watch it some more.
If I am not going to be here to watch the trade develop, I will either just place a pending order to get out of the whole position at the target, or I will place two orders, one to close half the position at the target, and the other to put a trail of about 15 pips on the other half once it hits the target.
No strategy is perfect.
This is what works for me.
I also don’t have a ton of experience at it, if I had done it this way for a year, I don’t know if I’d have done better or worse than PipSurfer.
[QUOTE=bman;34257]Hi all:
I read that I could install sound alarms in MT4 (I’m using Interbank’s version) using the Cowabunga indicators/templates. How can this be done? (exactly)
Also, does any one here know of Cowabunga templates/indicators for other charting software? Like Sierra Charts or E-signal?
Thanks a bunch in advance…and a happy new year dam it![/QUOTE]Happy New Year!
I can’t help you on other charting software, but I do know about the Cowabunga indicator.
In the indicator file (Cowabunga- any pair.mq4) there is a line that says:
PlaySound(“alert.wav”);
Alert.wav is nothing more than a ding, but whenever the arrow appears, it does sound the ding.
I found that useless myself, so I downloaded several .wav files that say “Cowabunga Dude” to use. One is spoken by Bart Simpson, one is spoken by the Teenage Mutant Ninja turtles, and the other is unknown to me. But I edited them all together, into a single .wav file. I made a shorter one and a longer one, and they are in a .zip file attached to this post.
Download the attached file. Rename either one of the .wav files inside to be cowabunga.wav and drop into the \sounds subdirectory of your InterBank parent directory.
Open the .mq4 indicator file (using MetaEditor.exe in the InterBank parent directory), go down and change the name of the .wav file so it reads:
PlaySound(“cowabunga.wav”);
Then when the arrow lites up, it will call out “Cowabunga Dude” at you . . .
Ok I’m using the Cowabunga Template & Cowabunga - any pair indicator…
The last buy SIGNAL that I received was WAY back on 12th of December @ 13:30 - is the the same for everyone else?
It’s also looks like it’s missed quite a few BUY SIGNALS eg. 17th Dec around 16:15 (If im wrong tell me im a newb lol because I am, and just been running this system for the past few days, trying to get my head around it and how these signals work).
This is on a 15min GBP/USD chart by the way…
Could somebody maybe post the absolute LATEST and GREATEST Indicator/Template one where they are almost CERTAIN it’s working fine and almost captures all the signals that Mr Cowabunga himself gets…
Ok I’m using the Cowabunga Template & Cowabunga - any pair indicator…
The last buy SIGNAL that I received was WAY back on 12th of December @ 13:30 - is the the same for everyone else?
No, I get 31Dec 09:45, are you using the latest version of the cowabunga indicator, which is: Cowabunga- any pairV2.zip found on post #85 of this thread: 301 Moved Permanently
Is there any way to alter this indicator so that it sends alerts without having to close and re-open MT4 after every signal sent?
What happens (and what I’ve read in a thread) is that when a signal appears, it will email the alert fine… but if you leave MT4 running and another signal appears, then it won’t send another email…
Anybody know how to alter this? I’ve had a look @ the code (im only a newbie lol) and can’t really see what limits it to sending only 1 signal.
I’ve noticed that Pip Surfer’s charts on the Cowabunga blog show the 4-hr candles in the ranges of 3 to 7 AM, 7 to 11 AM, 11 AM to 3 PM and so on.
[ul]
[li]Does Metatrader allow you to specify those times for the 4-hr candles? Also,[/li][li]What data feeds does Metatrader use? My broker is FXCM. Are they in the list?[/li][*]Is Metatrader available as a free download somewhere? If so, I will appreciate a link to that location.[/ul]Thank you for your reply.
Thank you. I found Metatrader on several websites out there that then began to wonder which place would be the correct one to download it from.
Does Metatrader let you specify the time you want the 4hr candles to start, so that they match with the opening of a particular session, like London’s?
shrude it is exasperating, i have been trying to get an answer to that very question. i have even asked ‘pip my system’ to send me his cowabunga indicator and set up.
i got the v3 file put it in the metaeditor complied it and restarted the mt4 but nothing is in the indicators list what do i do next? to get the indicator on the charts
Please excuse me for asking this very basic question about Metatrader. I am completely new to this system and just learning how to work with it. It’s not quite the same as the software I’ve been using.
Once you have a chart with indicators on it, what do you do to see the value of those indicators and the OHLC levels of a particular candle? I’ve tried several things with no success.
Your help is much appreciated. Thank you in advance.
Thanks, pipfishin. I see it now … for indicators only though. Is there a way to know the Open, Close, High, Low of a candle with the click of a botton or selection of a “properties” type of option?
