Cowabunga

Beginner Questions
1

hi,

Where can I get the indicator cowabunga.ex4.

Thanks.

2

All of the indicators needed for the Cowabunga System come standard in the MT4 platform, or any brokers trading platform for that matter. EMA’s, Stochastics, RSI, and MACD are all standard indicators. You can design your own template:

To set up the Cowabunga System.

  1. Open a 4 hour chart of a currency
  2. Open a 15 minute chart of the same currency

[U]4 Hour Chart instructions (MetaTrader) [/U]

  1. Insert --> Indicators --> Trend --> Moving Average
    Period: 5 MA Method: Exponential Apply to: Close

  2. Insert --> Indicators --> Trend --> Moving Average
    Period: 10 MA Method: Exponential Apply to: Close

  3. Insert --> Indicators --> Oscillators --> Stochastic Oscillator
    %K: 10 %D: 3 Slowing: 3 MA Method: Simple

  4. Insert --> Indicators --> Oscillators --> Relative Strength Index
    Period: 9 Apply to: Close

[U]
15 Minute Chart Instructions (MetaTrader) [/U]

  1. Insert --> Indicators --> Trend --> Moving Average
    Period: 5 MA Method: Exponential Apply to: Close

  2. Insert --> Indicators --> Trend --> Moving Average
    Period: 10 MA Method: Exponential Apply to: Close

  3. Insert --> Indicators --> Oscillators --> Stochastic Oscillator
    %K: 10 %D: 3 Slowing: 3 MA Method: Simple

  4. Insert --> Indicators --> Oscillators --> Relative Strength Index
    Period: 9 Apply to: Close

  5. Insert --> Indicators --> Oscillators --> MACD
    Fast EMA: 12 Slow EMA: 26 MACD SMA: 9

For more information on the system:
So You’ve Finished The School Of Pipsology…Now What? | Forex Blog: Pip My System

3

Check Pipsurfer’s blog…he has the link there

4

Thanks for the replies.

5

I need to be clear whether he refers to actual trend on a 4H chart or direction of a last 4 hour candle to determine short or long position on 15 mi. chart

The trend can be up or down but the last candle can go in the apposite direction from the trend and 4 hour candle can be a very large candle.

So is it a trend or a most current 4H candle that gives a go on 15 min.chart?

Hope someone can clarify this as I read all the threads and did not find a clarification.

Thanks

6

Cowabunga uses the overall 4 hour trend as shown by a 5 and 10 MA, not just the last candle.

Also, if you’re trading live you may want to hold off on the Cowabunga system. It makes profit in the long run, I even traded it myself when I was starting out, but from what I hear it’s been having a drawdown period recently. Better to demo it and when it turns around then you can jump on the wagon.

7

Hi Slikrick,

I know that MACD has to be 12,26,9. I heard that it has to be an “Exponential Histogram that displays the difference between the 2 lines”. What does it mean? How do I do that on MT4?

Thanks!