MACD RAINBOW for the day trader - How to use it

Sergei, if only 2 bars are showing - the others are hidden and thus the price could be turning, and thus you are now guessing - that is why you always look for 60 % move ie 6 colours. The 15 minute move is correct and you can use that if you want.

any reason why anyone cant get the info on this sytem
thanks

I guess Im wondering if you scrolled down to the 10 min graph at 15:00 and waited util 16:10 for your entry, or did you watch the 1 hr graph until 16:00 then scroll down to the 10 min chart?

The confusion probably has to do with when you had 2 candles in the 1 hr chart above the resistance line. Did the first candle close above the line 14:00 or 15:00?

What do you use as an exit point indicator? Do you ever use Parabolic SAR, or do you just exit once less than 6 colours are showing?

Thanks again

Ps. Cheeta, Genghis took down all his posts because he is going to write up a nice clear well explained memo for everone and repost it. Keep checking back.

thanks will look

Sergei, I watched the 14.00 hour candle to complete and then drilled down to 10 minute and waited and waited and waited.( Patience is part of the game). I was looking for continuation or a pull back ready to go long or short. At 14.00 hours there was no scope for a pullback as I was nowhere near my S and R line. They both have their own signals and i dont want to spend valuable time not trading. In this instance there was no S and R line to breach when I got a signal to prepare. As I said I have so got used to this method that I can trade without S and R but you should at this point limit your use with S and R - but more importantly in this scenario I could not place my trade until after the 15.00 hour was complete ( at 16.00 hours) and at the same time it was a candle that breached a S and R line that I had identified. If I had a signal at 15.00 hours ( which I did not) I could have got more pointage.

Hey Genghis, ya I figured that you probably needed to wait until the 2nd candle closed its position on the 1hr graph at 16:00.

I was doing some research on the weekend and came across this system:

Uses SHI, I_Trend, La Guerre and Perkyasctrend1 indicators to determine direction, along with entry and exit points. Very simple to use as well.

Looks very promising so far. I backtested it on almost all the currencies for the final 10 hours or so of trading on Friday and seems to work pretty good, with very minimal fakeouts.

Let me know what you think.

Serge

Sergei, thanks. i shall keep URL for reference. I personally dont use MT4 ( irs a subsciption service as I understand it). I sincerely believe in the KISS principal (Keep It Simple Stupid !) - that s directed at me, not you. Also colourful - heh heh ! I am told Its always necessary to have a set of tools in your box of tricks. Often people search for the master key, a method that works all the time. A friend once commented that if you have only a hammer as your tool kit, then you can only look for jobs that involve hammering nails. Fair point but I disagree. And also remember this - back testing is an illusion. Only forwarding testing counts for anything. And if you think that you must enter the market everyday to extract a living, you will lose. I have one tool, the method I have described, it requires patience and then some more patience but it works for me, and thats what counts. Regards

Thanks Genghis, I plan on testing your method and this one out on a demo account for the next few weeks, I’ll let you know how it goes.

I just had a small favor to ask. Could you post another successful trade with the Currencies and times like you did before. By examining exactly what you did and when really helps me understand your system.

Thanks
Serge

Many thanks to ur post. I love it.:eek::cool:

[u]demande simulation pret personnel en ligne[/u] - Pret personnel en ligne et de comparer les meilleurs taux afin de… La demande de pr�t personnelen ligne[u]demande simulation pret personnel en ligne[/u]

hi where can i find the setup for this system? looks interesting.