Hi Joe,
In post # 170 you said that the settings for CCI should be 9 and 35 but in the last post you said it will be 34 and 170.
What exactly should it be?
Thanks
Hello Bro, both are correct. Above CCI is 9/35 for scalping, and the other is an original 34/170. Please reread the post below,
[I]Do you know where to sell it ? I suppose you do, and where to close 1st target and where to open 2nd position.
Note : I use one of that CCI for scalping so I hope it will not confuse you :)[/I]
Joe, when you are scalping the usd/jpy pair are you droping down to a different time frame ? or staying on the 1 hour ?
I also notice that this stragey keeps you out of consolidation.
Mmm
Hallo people, how are you doing?
I have now coded a few versions of this system. Actually it is a quite “engineered” one, because I don’t use kino, emacross and sa_MTEI anymore, but just their EQUIVALENTS, “standard” counterparts (the normal CCI, the normal EMAs, and just a new version of the supertrend that I corrected and does not repaint anymore, also because it is of just one color: the indication of the color is just given by the CCI 50). But besides this technicalities the system is the same as that illustrated here by Joe.
So, in my hands, the “basic” version of the system, on EURUSD M30, was quite catastrophic. The problem was the thousand of whipsaws in the regions of “ranging markets”. Then I tried a couple of other things: I inserted a time filter, because I noticed that these ranging areas, in the M30, usually correspond to the time outside the merge of the European+US session. Simply I avoided taking positions in these hours.
Didn’t help.
Then (after recoding the supertrend, as explained), I tried to avoid entering positions when the line is flat.
But also this doesn’t help very much (just a little).
I don’t want to go into details, and these results by [B]no means[/B] question the validity of Joe’s system, rather my EA’s performance. But perhaps there is some indication emerging also for you lucky guys that can afford manual trading (while I must stay in the office…):
[ul]
[li]The most whipsaws are [B]not[/B] caused by positions got in the wrong direction near the top and bottom areas.
[/li][li]The most are due to [B]late entry signals[/B], generated, when all the three indicators finally converge, towards the [B]end[/B] of a swing move.
[/li][li]Apparently there is a quite big problem in the take profit strategy, because the average profit, while the original target (Pivot) can well be in the range of 100 pips, is usually around 35 pips, against the 27 of the stop loss. This little profit:loss positive ratio does not compensate for the fact that usually the winning/losing trades ratio is not above 40%
[/li][/ul]
Joe, I have the impression that your great results are really due to your big experience, that is accessible, thanks training, to all the people here that have the possibility of sitting in front of the screen during working hours (and unfortunately it is not my case). I think, especially, that you’re able to recognize which are the attainable profit levels for the single trade while it develops, and the script, based on pivot levels, often gets fooled in this point. A second advantage of yours, that just partly can be mimicked by my time filter, is that you trade probably during the volatile, moving sessions. The third thing is that you probably select instruments day by day just by looking which are moving and which ones not. Take for instance EURUSD yesterday (NICE move, and I congratulate with all of you that took it), and today completely flat (even with risks of whipsaws if no “sideway” filter is applied). You didn’t trade EU today, isn’t it? The fourth problem is timing, in the sense that I am pretty convinced that you quite often enter the candle before close and at market, if you see that the hurricane is coming in your direction, isn’t it?
Some of the mentioned problems can be probably easily solved also with the computer, like perhaps adopting a trailing stop strategy instead of being too tightly bound to pivot levels (sometimes quite weird). Some others are much more serious, above all the late entries that transform a wonderful move in a dismal loser.
Coen, do you have better news?
After all, in my personal schedules, this project is switched to a somehow lower priority. It belongs to the MANY ideas I am developing, as a potentially very profitable automatic trading strategy. It can become such after a lot of efforts for tweaking, maybe using some more filter or some faster signaling device. Especially, it must be carefully optimized, with walk-forward analysis for avoiding overfitting, and the life cycle between optimizations must be determined.
It was very worth working on it, and I thank you, Joe, again, especially for the approach, based on complex indicators, although based mainly on the CCI, and the discovery of this supertrend line. Actually there are quite a lot of trend or even trend/ranging indicators around. Probably combining them with some very sensitive signal (in this case it was the crossing of two very fast EMAs) is a very good strategy.
Bye
Fabio
Joe, do you take any signals near the pivot ? (pink line)
Joe or anyone who trades this system.
Unfortuneatly I have to concur with you that it is not that easy to put all of Joe’s experience in a simple program. The issues with the EA sound really familiar to me and I tink I will not be able to get it to work without putting quite a bit of pattern recognition in it.
Hey joe. I’ve been putting together a template with your indicators to give your method a whirl I have a few questions. These are based on the, “30 minute go for +100 pips off the first signal,” method.
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what are your, 'accelerator," settings.
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What are you macd settings.
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What are the, “exact entry rules?”
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What are the, “exact exit rules?”
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I noticed on some of the charts you don’t even have the accellerator and macd on the jpeg. Are these even important?
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I’m using the 1, “kino,” indicator I got from your link. Is that already set up correctly? Or do i have to change some settings on it?
Ok, you say enter when all indicators point in the same direction, but since we are looking at jpegs and not a movie or something, the order is confusing me.
Do we only enter when arrows appear after the cci and supertrend agree with it?
Or if an arrow appears but the CCI and super trend don’t agree, but then change a couple of bars later, do we enter on their change because we got an arrow in the past?
For instance I’m looking at usd/jpy 30m. I have a green arrow, but under that the CCI is red and the super trend is red. A few candles past that the super trend turns green as the CCI is still yellow. Now if the CCI turns green is that an entry since we already got a green arrow and the super trend is green?
I guess I’m confused on the order the indicators are supposed to line of for an entry signal.
My friends, I really appreciate the time you’ve put into making EA based on this indicator.
When the issue to make this EA appeared, I was very excited because I think EA will be able to produce more pips.
But on the other hand, I doubt it because EA would not be able to analyze 2 different tf to determine the appropriate entry time. EA will execute each new arrow that appears and continue to buy / sell at the wrong place. Ea will buy / sell when traders had just closed positions.
The main problem for the EA maker is, [I]when ea will open and close position [/I] in order to get as many pips. If this can be answered then the EA will be very powerful, wonderful and will benefit all traders.
I realized that this super EA will be difficult and impossible to make. Far better to trade based on the experience in reading the indicator.
Finally, since I started this thread not to make EA but to share experiences, then I will not answer every question that led to the creation of ea.
I will focus to see the price movements in all the existing pairs, and after getting the proper signal, I will report it on the thread.
Happy trading
I’ll give the call based on the valid signal from several different pairs, and you can follow it at your own risk. 
Happy trading
Good on you Joe. Hope you keep at it.
Juicyt
Hey Joe, do you think this method can be profitable for someone who can only trade from UK open to about mid US market hours? Or do you think too many trades would be lost restricting the hours like that?
Cheers
hello, joe100
been reading this thread, looks promising; so l would also like to try with yours indicators, appreciate it…
Joe could I please get a clear answer to my questions? Particularly a strict set of entrance and exit rules?
Lol a year ago you asked a lot of questions about trading and now you are acting like a guru???
Depending on your ability to analyze indicator. The best time for trading is the European and U.S. sessions as more traders are involved.
Whats your problem? What I can’t try new things and ask questions? And whos acting like guru? Get stuffed.
Hello bro, please reread the post no. 257, I’m sure you’ll find the answer.
Happy trading
I’m not trying to be smart joe, but this just confused me all the more. The directions are a bit vauge and haphazard, which is why I keep asking for more concise directions.
What I think would be great if you could just lay out your entry and exit conditions in a step by step fashion. For instance: [B](disclaimer this is just a for instance not the actual directions for this method)[/B]
Step one: Wait for supertrend line to change on 30 M.
Step two: Check that the CCI color is in agreement.
Step three: Enter on EMA arrow to appear.
If you can’t see on this picture you will never and that for a Superior Master Contributor, lol! You never learn how to trade, you know why! You are having to much fun on the forums