Hi, I use another indicator called EMA Channel Cross, created by kungfumachine, a member from this post. For Magicribbon, I uncheck everything except the MA settings, you can change the settings for MA as in the picture.
American Trader - what settings are you now using for your eurjpy 1m?
And are you still just using psar? Or a channel cross like your 5min eurusd?
I am using 80 for the channel emas on the 1M (5M is different). I have the “Yellow” set to 20 close.
I am getting in the trade in 2 ways on a short. Either a traditional ema signal and staying in as long as price stays below channel and channel is sloping downward, or PSAR entry as long as price is below channel.
Opposite for buys.
When you talk about Big Moves, which timezone are you using to calculate this? GMT or your local time?
I’m in GMT-5, but I was only tracking big move times for a few days. Not worth taking into account yet.
No worries thanks for the update.
It’s working great this morning!
Give me 140.990 for my next 20 pip win
Bam! Cash the check.
Curse you forex market for making me wait an additional 5 minutes to cash my check. But on the good side, I was wrong and since I did a smaller trade it was actually just short 40 pips on that win. Life is still good.
Again, while driving
American Trader - do you have any videos of your trading?
Can you write what indicators you use today and their parameters
50 pips in 4 minutes on Eur/Jpy!
What a great Friday morning!
No videos. No YouTube channel.
I am on MT4 but I’m sure there are indicators that do the same things on most platforms.
Lately I spend most of my time trading on the Eur/Jpy 1M chart.
I have the 1M chart open and a second Eur/Jpy chart that I continue to check on 5M through 30M.
Level 2 Trading (Box in upper left side corner).
2 Blue EMAs. One set to 80 Open. One set to 80 close.
Indo Trend (shows trend for 1M to 1D (dots on upper right side).
PSAR with Trend and Alerts set to 0.009/0.04.
I Compass set to 80 (Trendline that changes from pink to green).
Yellow EMA set to 20 close
For my trade I closed a few minutes ago, you can see that the I Compass indicator changed from pink to green and we got a buy signal based on yellow EMA entering the channel and a PSAR change.
Edit: The blue lines showing resistance and support levels is the Investment Castle Supply and Demand indicator.
I just closed on another 15 pips on the sell. No signal for it, just an obvious downtrend and Level 2 indicator showing more sellers.
Had I gotten out of bed for London Open, I see I would have had another 50-80 pips in earnings. But 65 pips on a Friday morning isn’t bad. It’ll take a very strong signal to make me enter again today.
You guys might want to check this indicator on TV that I found out last night and it’s based on Machine Learning AI? So far from what I have seen it either gives the same signal as AT’s setup or it gets you in earlier and gets you out before we hit the signals that we normally get.
At the moment I am running AT’s system alongside it, but the advantage of this indicator is that it makes your screen clearer on it’s own or you can combine it with elements or all of AT’s indicators.
Remember I am not saying that this is better or worse than AT’s system as I am experimenting with it at this stage. The numbers that you get on the candles are the strength of people’s conviction behind that bar, so an 8 indicates the strongest conviction behind the buy candle and -8 indicates the strongest conviction behind the sell candle.
and this is on it’s own
and can you see in this picture
A is the same signal as AT’s from the Lorentzian Classification Indicator (LCI)
B is the same signal as AT’s from the LCI
C is the LCI signal only and would have you out of the buy earlier than AT’s
D is AT’s signal.
@rocktrucker the trade stats look interesting. I played a bit with the tf and on the 1 hour chart (eurjpy) it shows astonishing 89,5% winrate.
On my longer timeframe charts (5M to 4H) I have the I Compass set to 25 instead of 80. I wonder what the win rate for the Machine Learning indicator would be with those settings?
I see @rocktrucker had about a 78% win rate on his chart.