Nice Trade Darklighter. As far as my PT, “Based on S&R and/or Pivot point” would best describe my trading style. If im up 8+ pips and im approaching a SR level or fib, ill definitely take my profits.
hello Blizzard
In the end what swingzz settings did u choose ? 3 or what else? (for M1 trades)
and do u enter trade after the break candle has closed or during the move?
Cheers
Hi every one,
First I thank you all for your efforts and mainly Blizard for this great system. Please I need your help since I am using TradeStation v2 that does not offer Autodayfibs indicator. Is there any other alternative indicator to show the daily hi and low?.
thank you and regards,
I have found try 4 on 5 min chart, not as many opportunities as 2, but bigger gains 
I mainly trade the 5 minute chart now, each trade usually yields 10+ pips. I prefer the minbBar settings on “2” for the 5 minute and above time frames. For 1 the minute charts, i would recommend 3 or 4 for minBars. I only enter a trade once the candle has closed on all time frames.
thanks
i’ve been following this topic since the beggining, but I still didn’t had the time to trade it properly and the small amount of time I did had I wasn’t able to properly draw the lines, anyway i’ve been trying to backtest the EA but the results are account blown up. did anyone tried to backtest the EA ?
is it valid if closed only with the shadow or the whole body of the candle must break the level?
"I only enter a trade once the candle has closed on all time frames. " It means you trade with confirmation of higher TF with same concept? which TF you refering to if I may ask?
Thx again
The body must close past the trend-line. Be careful however if the break of the trendline is close to the fib pull back sweet spot between the 61-76% of the larger movement. I have attached an image to explain. The candle closed past the trend-line however, not a good place to enter because of the sweet spot.
Also, i only wait for the candle to close on the time frame im trading usually 5 minute nowadays.
thanks
Hello, some nice setups today on the 5 min EUR/USD. To eliminate smaller movements / breakouts I have switched the minBars to “3” so I catch the larger movements alone going forward.
Blizard,
This was a perfect setup for a 10 plus pip trade. The dashed line is a 50 sma for trend. Read and black lines are pivots. When you have time could you review how to use fib retracements as SR to keep me out of bad trades. I’m only having a 50% win rate and need help. Should I just stay with the the eurusd and the gbp/usd?
Thanks,
Greg
Can SMA’s help to increase the acuracy of profitable trades ?
Sandybeach,
I wonder the same thing. I do feel that the set up I posted had a much higher chance of success because everything lined up perfectly, a retracement and then a continuation downward. Only going with the trend could be too restrictive.
Greg
I added a 200 sma. This sample trade is a trend trade using the method for entry. What do you think Sandybeach and Blizard and others???
Greg
Interesting to entry only when it bounce back to the ma, used then as dynamic S/R.
Btw I’d rather use a 50 EMA, not SMA
Cheers 
PA close to a fib level doesn’t mean it will be a bad trade. Point is that this system is intended to scalp, so trading close to critical levels (fibo, but also keep an eye on big/mid figures and daily pivots) can means many things on a very short term that would affect our scalping
Hope it helps 
Greg Jones, interesting, the SMA’s are interesting, but we would need to test it more to ensure it works, but perhaps only taking trades in the direction of the daily trend is not a bad thing. It would mean fewer trades, but you could go for a few more pips per trade and perhaps watch a few additional pairs to compensate for loss of trades.
In the last day i have been testing this system on 4 pairs (EURUSD, GBPUSD, USDJPY and USDCHF). I have had 19 trades, 5 profitable and 4 non-profitable. If i had taken the trades only in the direction of the daily trend, then 3 of those losses would of been trades never executed and the last trade would not of been executed as the pair was sideways at the time of trading.
So i think alot of merit can be just to take trades on the 5 min chart in the direction of the daily trend. Doing something as simple as this may get rid of more false and losing trades and any other indicator or SMA lines.
This is the indicator i use to give me the daily trend.
ZCOMFX_daily_trend_2.zip (3.95 KB)
I find it quite helpful, it gives a simple arrow in the corner of the screen with a green up arrow upward, red down arrow and a sideways blue arrow if the pair is not trending and ranging.
It is quite accurate and has helped me alot !
SandyBeach,
Thanks for the indicator but I don’t seem to have it for fxcm. What I’m doing is a trial of 10 trades going only with the trend when the zz swing gives me an signal on the five minute. This would be entering after a retracement within the trend.
Greg
Great work guys. Nothing wrong with adding a SMA or anything thats helps you filter bad trades. My only worry is that were getting away from the simplicity however, we need to increase the accuracy so that may be the way to go.
thanks
A completely agree Blizard, simple is best, i now only have my chart with the Swing ZZ indicator, daily indicator (as posted above) and fib and pivot indicators.
Also trading the main hours of 0700 - 1700 GMT seems to be a good filter also as the market can go flat overnight, but i guess thats the obvious one