JÄWÄ's 'Experimental' Price Indecision System

hey jonkie,
i figured out, that when your indicators are loaded, it doesn’t keep manual-added objects like “vertical line” when switching time zones. maybe you got any idea how i can fix this?
i would like to mark some 4h candles and make some notes on my chart and it should be kept when switching to 1h too.

Did you guys had also 3 longs @ AUDJPY GBPJPY and EURJPY at the 04:00 candles? All of mine hit the SL. I think I did something wrong there

My EJ buy hit SL, and I closed AU buys at some loss, but I sold AU, and added inside bar buy stops to AJ…EJ getting close to sell stops…

Got on inside bar on AJ aswell, also still got one on EUR/JPY (12:00 and 16:00 hour candles). At this moment still got a sell on AUD/USD and GBP/JPY (evening star) which is about to hit half TP.

Gj hit stop loss from yesterday’s star and last nights ic, on the close of the 9.00am candle (im in uk) didn’t quite qualify for a sell star so I didn’t trade but I suspected price would drop

Dude, sorry, but I am not updating the indicator anymore, but in the programm when you edit it there is this line of code:

DeleteAllObjects();

Remove that. save the file and restart your platform.
That wil fix that problem…however, if you change to 1 hour and back, the signals of the 1 hour will reappear on the 4 hour chart… so it’s choosing between two bad habbits I guess…
I wrote that programm to get some people started without having to do calculcations. It had no purpose to have a long life time.

@Jonkie As you live in the Netherlands as well. What broker do you use? You managed to get a lot of pips yesterday while I traded every candle on FXCM as well but didnt managed to get that much profit.

Also, do you open 2 trades per signal like (guess it was) pipcompounder, 1 for half TP and 1 for Full TP. Or do you open just 1 trade and move the SL to breakeven when price hits HTP. Thanks ^^

Hi Kaboemm… your Dutch as well?
I trade at ForexYard, UK broker which operates in NL as well.
However , their spread is to big…i have 7 pips spread on GBP/JPY.
I open 2 trades indeed, as mentioned above. I trade with 0.01 lotsize per position.
So when a trade goed bad, I loose 80 pips. When it goes well and hits TP1 and TP2, I make 110 pips.
I do not trade with ATR, and not with multiple signals. I just use the system as it was posted on the very very first post. even before SithJawa started to change some stuff… If a new second of even a third signal appears in the same direction I move TP1 and TP2 to new targets of the new signal. However, if I already hit TP1 on the last position, the TP2 is already on BE and can not be devided again. So when that happens, I only move the TP2 of that postion to the TP1 of the new position for an extra 10 pips gain. (so 70 pips become 80 pips)

Indeed yesterday was a 500 pip gain, however, you have to give in about 20 positions with 7 pips spread. So that a lot to give back ;-( So my netto gain should have been around 350 pips. And thats why I am searching for an other broker with lower spread, as they are eating my profit away.

greets,

Jonkie76

Don’t forget to check if the first candle in the star meets the criteria for being with the trend. I know, at least on mine, the GJ star isn’t valid.

Closed all GJ sells and bought pin bar, AU sell on last candle hit SL, AJ buy stops hit, so those are the only open trades.

Hey guys,
iam trying this system since yesterday now. but i found something that confuses me. hope you guys can help me.

in this picture you can see:

  1. 4hr Chart with Sell Signal
  2. 4hr Chart with marked candle
  3. 1hr Candles

the tool shows me a sell signal but if i go into 1hr chart i see a buy signal because candle 4 closes higher than candle 1.
who is right?
iam a bit confused, maybe i watched the wrong candles?

Hi ExejeSen,

From what i understood, you’re looking at the wrong candles. You must look at the 4 last. This way, it is a clear sell signal. :slight_smile: Please guys correct me if i’m wrong ! :slight_smile:

Hmmm…I am having thoughts about the ATR, myself, Jonkie…if I was using the old 40/40/70, my GJ trades would have hit half TP, as well as some others…right now I am at $20 gained for the week, I was floating at $60 at one point! The flip side is AU and AJ ATRs have been lower than the 40/40/70, so I still want to use it for those.

FinFx has really low spreads, especially when your account gets above $10,000USD…check them out.

maybe its now a bit more confusing cause i made the pictures 3hrs after trade entry :wink:
i think close of candle 4 in image 3 is the same as close of the marked 4hr candle. so i should not be wrong?

Oh ok lol sorry !
On the 4 hours chart, wasn’t it an inside bar on the left ?

yes i think it was an inside bar. but i was sleeping at this time :wink: it was at 03 in the night.
you mean the candle directly next to the candle of sell signal? yes, but it was a pin bar too and pin bar priority > inside bar

mh, but i dont still get why i get a buy and tool a sell signal :frowning:

Yes you’re right… What say our veterans here ? :slight_smile:

Yes ATR can be usefull, but I have problems with the idea to use the 1 x ATR as your target, and only 0.75 for stoploss.
Personally I think it reaches your stoploss to fast, and ATR target not so fast.

You see ATR is fine. However it is still an indicator working with past info.
You never know what to get the next few days. If volatility goes up the next period then ATR as target is fine. However, if volatility goes up, the chance your stoploss to be hit will be greater as well. When volatility goes down the next period, you wont be hitting your target. As your target is a 1 x ATR based on the period which has already passed.

So ATR is fine, but you have to think very carefull how to set your targets and stoploss according to those ATR values.
As I myself had no time to work this out myself, I stick to the original plan for now.

After 2 months I will have a blueprint of the results. After that I change something and see what the influence is…

I see what you’re saying, Jonkie…BTW, my GJ just hit half TP!..the bulls are going at it.

Am I seeing a bullish star forming on gj at the moment? Hard to tell as I’m driving :slight_smile: