Hello, is it possible to pinpoint tops and bottoms with increased accuracy. I believe it is. Here is a very simple system that has proved to be quite profitable for me.
The system requires 3 indicators:
Bolinger Bands (default setting)
-Swing_zz (min bars set to “3”)
-Zee_zee_i
buy entry rules:
When a green Swing ZZ dot appears just OUTSIDE of the Bolinger Bands and the same green color appears on the Zee_Zee_i, wait for a green candle and enter a trade with a tight SL at the Swing ZZ dot.
Sell Entry Rules:
When a red Swing ZZ dot appears just OUTSIDE of the Bolinger Bands and the same red color appears on the Zee_Zee_i, wait for a red candle and enter a trade with a tight SL at the Swing ZZ dot.
Hello, I have just been trading this for a few weeks but another variation of this system for many months. This system seems to be more profitable so I will continue to develop it and hopefully get the input from members here to see if its truly viable.
Hello, the system works on any forex pair and also oil. It works on any time frame from my observations but im an intraday trader so the 5 min chart suits my style.
One question: you enter when the bearish or bullish candle finishes after the swing point right? So your SL is the difference between the swing point and the close price of the next candle?
And what about the TP? Is it relative to the SL in some way?
Id say its about 65-70% accurate and the risk to reward is usually 1-2. The system is an evolution of another system so its only been a few weeks but looks promising and im sure we can make it even better,
I think i got your entry, but any way all was winning trades of 5 pips each, there were 8 trades in all on the GBPJPY so i guess 40pips today with this strat if it was traded today.
Can someone please explain in plain english what the ZZ Swing indicator does? If its just to show the swing hi’s then what advantage is there to using that over just eyeballing it?
Do you trade one particular session (London, NY, Asian) or do you take trades throughout the entire day?
Also, when there is a red dot and the zzi is red, if the candle closes red, do you take the trade at the open of the next candle or do you wait for the following candle to close red and then take the trade?
I’m attaching a chart with an example. If the candle with the down arrow closed down (white in this case) do you enter at the open of the next candle or do we need to wait for another down candle to close and then enter?
Hello blizard, that’s a very interesting setup you have. May I ask if it has to be THE NEXT candle with the opposite color or ANY OTHER opposite color candle after the appearance of the dot?
Hi Blizard,
re: your new system, Picking Cherries & Apples, how do you avoid getting stopped out with the ZigZag repainting to deeper pivot points. In the Swing_ZZ method, you avoided that by waiting for the next reverse pivot to paint, making certain the one you’re basing your trade is done repainting. I just threw together an EA with your rules for this one and noticed right away, it can enter a trade, then the candle can immediately reverse, and extend the ZigZag pivot, hitting the stop. It has taken 3 trades so far, and every one reverse and extended the Swing_ZZ pivot to stop out. The system looks great on historic chart, becaues an historic chart never shows the repaint, only the final pivot, so it always looks like the perfect reversal. Only it probably exended itself 4, 5 or more pivot extensions to get there.
I have just been eyeballing this evening and it potentially seems like if you wait for a certain candle sticks to form (such as a pin or indecision bar) at the same time as the dot outside the BB it looks like it could really help filter the signals
Here is the ea I made according to the rules as I understand them. The zip file also has the indicators and template zipped in. If you put it on backtest, you can see the repainting and frequent stoploss as it is made currently. Hopefully seeing the result in “compressed time” will help come up with a fix. Regards. Jim.,
