Which time zone is that EST?
I don’t know, I use OANDA.
Here’s a template, I realized you can’t really extract a file from a word document.
projectspioTpl.zip (1.05 KB)
" correct me if I am wrong but don’t you have it backwards? instead of a 30 period anything on an hourly chart being the same as a 120 period on a 4 hour chart… shouldn’t it be the other way around?.. which would be a 30 period anything on a 4 hour chart being the same as a 120 period anything on an hourly chart?
Ah yes, you’re right.
I must have not double checked what I typed there, was about 4am on my time.
Good call.
correct me if I am wrong but don’t you have it backwards? instead of a 30 period anything on an hourly chart being the same as a 120 period on a 4 hour chart… shouldn’t it be the other way around?.. which would be a 30 period anything on a 4 hour chart being the same as a 120 period anything on an hourly chart?
If nasdin94 is really only 18 he sounds very mature for his years,the only thing I was interested at that age was hanging around outside the chip shop and causing trouble,good on you mate.
Thanks for the compliment,
Do try out the system if you are still searching for one.
Hi nasdin94, you said that you trade for 4 years, but for how much time are you testing this system? Do you have some kind of backtest or historical trades to rely on?
I agree with you about the price action, trading is a mind set game with all the traders around the world, indicators are good when they confirm the price action, they don’t really do anything for their own. Of course this is just my opinion 
Thanks for sharing your ideas, will take a look at this.
Nidolap,
This system is a compilation of all the skillsets that I have learnt and apply in my everyday trading for 4 years, the purpose of the system was to write out all the things that I have been doing in my trading, but now in a step by step basis, so my friends can follow suite and learn from me.
what are WPR?
HI! I would like to Get the EA system from can you send it to me. thanks:)
Williams’ Percentage Range under Oscillators.
Hi Joman1,
WPR stands for Williams percent range
It was created by legendary futures trader, Larry williams
This is an indicator,
It is an oscillator that measures and tells you when there is short term extreme overbought and oversold level.
When price has been going up too long and too fast, it is considered overbought.
When it is overbought, there is a strong likelyhood that it will go down.
Conversely,
When it is oversold, there is a strong likelyhood that it will go up.
The WPR has a measurement of -80 and -20 which is inverse, as compared to the stochastics indicator.
Below -80 level we say that price is oversold
Above -20 level we say that price is overbought.
here we have an example that I have from the internet
In my guide, I use the -90 and -10 levels when the market is known to be trending.
-80 and -20 when the market is ranging.
Hope this helps you,
Nasdin
Hi, SupermagicPro
Yes you can get the EA system from me.
Do note that the EA system is not linked or related to the way I trade manually.
This was a simple gag system that I made in a few minutes in response to Ne0
However, if you really do believe that EAs work, here you go:
The EA is for MT5, so you need MT5.
Timeframe is H1,
This is an unoptimized settings
You need to optimize it before it can become profitable,
Optimize for a 1month period, the profitability should retain for a week, before crashing out an account.
However, this is not the thread about an EA, so if you wish to know how to optimize an EA, you may have to look elsewhere.
SPIOEA.zip (208 KB)
Hey! Nasdin,
Thank you so much for sharing. As i am new, most of this indicators seems foreign to me. Where can i get to know more about different indicators and what would you recommend me to read up?
By the way which part is trending and ranging? Can you explain the part after the -20 to -80. The graph seems fluctuating and how can i inteprete using the WPR from there? What are the benefits too
I’d recommend you to read up in babypip’s school of pipsology first
School of Pipsology
I have read about 50+ pdfs, internet courses, guides.
But I do recommend reading up on divergence, candlestick, Trendlines, fibonacci retracements, fibonacci expansion and price action from James16(Look him up)
But it is also fine if you wish to learn them here, I can teach them.
Well, if you can find out whether the market is ranging or trending, then you can be a successful forex trader
Some people invented indicators, like e.g the ADX, to measure the strength of a trend, but can be quite slow in finding out when a trend actually starts or whether the trend has ended.
Anyways,
If the graph is fluctuating up and down instead of being in a smooth direction, then it is a ranging condition.
If the price moves in single direction, making higher highs, but higher lows, its an uptrend.
For downtrend, if price makes lower lows, but makes lower highs, in a downtrend.
How you can interpret the WPR would be that you can trade divergences/hidden divergence from it at areas of overbought/oversold.
In my pdf/ word document, I’ve explained how to identify whether the market is ranging or trending.
I’ll make a new post on how I use the WPR in the system, in the next post.
How does the system makes use of the WPR?
The system has different ways of interpreting the WPR, depending on the market situation.
When the market is trending, we use the WPR as a filter from making trades at overbought/oversold regions.
When the market is ranging, we use the WPR as a trade setup.
Trending situation
For simplicity, I will use eurusd H1 charts below:
First, we have to analyze whether the market is trending, and what direction is the trend?
This is an example of a downtrend, we have the EMA channels seperated from each other and they are diverging apart(draw or imagine a trend line) like I did, to see that it is diverging apart.
Then, see the location of the price, the price is below BOTH the EMA channels so we say that it is a downtrend. If price is above Both the EMA channels, it is an uptrend.
How do we use the WPR when it is trending?
In trending, we are concerned with the -90 and -10 levels in the indicator.
If both the lines in the WPR(3 and 21 period WPRS) occupy those levels, we cannot make a trade.
If it is below or equal to -90, we cannot sell.
If it is above or equal to -10, we cannot buy.
Trading decisions are only made through canclesticks, price action candlestick analysis, volumes, momentum and fibonacci, no indicator crossover or whatsoever.
Here are some examples:
This is in a downtrend
This is uptrend
Now isnt that an awesome way to prevent yourself from buying at highs and selling at lows?
Its a fine way to keep you trading only at dips and retracements.
Ranging situation
I’ll just summarise a bit from the guide,
We identify ranging when the EMA channels are overlapped or partially converged by about 1/4 at least.
In ranging, the WPR is used as a trading condition instead of a filter.
Entry method, SL and TP is mentioned in the guide.
The entry uses a buystop above the high of the candle for buy
Sell stop below the low of the candle for sell
If the sell/buy stops are not hit, then we are not in the trade.
We would place sell once the wpr 3 and 21 touched the -20 region together
Buy when the wpr 3 and 21 touched the -80 region together
They must form a v shape and 3 must be lower than 21 when selling, higher than 21 for buying.
We are only looking to sell once it has broken up the channel by at most 5 bars
We are only looking to buy once it has broken down the channel by at most 5 bars.
It must still be in ranging condition, price must not have a breakout into trending mode.
The first trade didnt manage to hit its tp, it was a breakeven trade.
The rest was successful.
Hope this helps,
Nasdin
WOW! really clear explanation. By the way dont really know WPR(3 and 21 period WPRS) refers to which point? and what is EMA. Thank you for your time to teach us here. really appreciate it. Basically we are trading in the range of -10 to -90 levels.