It depends. sometimes it is best to just enter on the breaking candle. However, the price can sometimes pullback to test the broken trendline. Its really tough to tell if it will pullback at all. so sometimes its best to get in on the first candle. Keep in mind that this is the 1min chart and sometimes a fakeout/bounce will occur. In which case I would love to have strategy for the bounce and a better way to filter this.
Hi, Goodpunk,
Thanks for you"re explanation ,sometimes the price is going on and there is now retracement and sometimes it pulls back and then you can enter easier the marktet.
How are going with drawing the fibonachhi levels to the second dot back?
regards
Dutch
great thanks for that
i attended the webiar on monday but joined in late i had caught the second trade fro 13 pip profit missed out on the loosing trade
awsome have a great vaca
Hi blizard,
I read whole thread and almost studied your system, ofcourse which works fine for me. Got the updated ea to draw horizontal line. please explain more about fib retrace?
You are great.
Sheriff
Hi sheriff, just draw a fibo retracement between the 2 confirmed dots and wait for a reversal pattern on the 61.8 or 76,8 lvls.
Well, after a forward test of 2 month trading only trend an horizontal breakouts, as a secondary strategy, i have to say that at 5 min it works nice. However I think that it has a better % winning trades when it is supported by other patterns or signals. Like triangles or harmonic patterns:
or confirming the signal looking at divergences on oscillators:
again, special thanks to Goodpunk6 for his 261.8 fibo tp, i have tried it on triangles breakout on 5min with perfect results.
this system deserves it!
These are amazing developments! What were your swing zz settings? Itās hard to tell by the pic but is that an RSI that youāre using? If so, then what are the settings for that?
I ask because this is a great system that has helped me so much but I think that better filters are needed. Range bound days can be tough using this strategy. If you like trading the 1m like I do, then youāll see that there can be plenty of fakeouts. I also hate the movement that can sometimes occur āinsideā a horizontal channel. There are pips/ticks to made in there. Perhaps thatās another strategy all together. The oscillator idea could help in determining how likely we are to breaking out. Paw3000, please provide more examples as you get them. I will look for other indications like intermarket divergences with the CRB and Dollar index. Perhaps getting in synch with the dow and nasdaq can give us a directional/risk bias. Meaning, if weāre going up then donāt expect too much from shorts and accept some additional risk and vice versa. On range bound days, something is needed to determine the possibility of a bounce or break. Again, iām not sure what that is or might be but I know that it would be great help.
Thanks for the mention Paw3000!
Have a great holiday !! enjoy 
hi Goodpunk,
I started using it at 3 on min5, but recently I prefer the zz2( otherwise i feel like im losing too many good trades)
and RVI set at 5.
The CCI 10, rsi 8, macd 12,26,9, or stochastic 14, works well too, but i like the RVI (Relative Vigor Index) cause it shows a higher number of divergences than the previous 3. I think that it is a personal choice. Theorically As less divergence they show more reliable is the signal. However I hate sitting there for hours waiting for a perfect setup , which can fail too.
Indeed, and specially with zz2 you get killed by the market when there is one of this āterribleā days. So maybe we should stop trading when we reach a x number of loses, and try to take the maximum profit from the āgoodā days.
I will post last friday morning trades using RVI divergences and stochastic as filters, as soon as i have enought time to edit it, because pics quality is really lowā¦ so a big zoom is needed there in order to show the divergences correctlyā¦
This sounds awesome, I wish you the very best of luck in finding this turning pointā¦ this could mark a before and an after on this strategy. I wish i could help you in this direction, but i havenāt got enough knowledge about market correlations and divergences between index/stocks and fx or oil.
Hi Sandybeach,
long ago since your last post, how is your trading going?
Wow, what a nice strategy. Just now finished reading whole 115 pages long thread. Great applauds for blizard.
I believe this strategy has lot of potential if properly coded. Let me go thru the codes already postedā¦
happy pips-ingā¦
Hello, blizard and everyone. First time posting but Iāve read the entire forum over the last week and really like what Iāve seen. Iāve spent the last two years studying/demoāing a host of systems and I keep coming back pure price action with a tool or two (namely, trend lines and fibs).
My issue is I use a MAC computer and the ThinkorSwim platform and havenāt seen a way to use the swing_zz or manually replicate the dots. Would prefer not to run a Windows emulator so that leads me to a question thatās been asked before without a real response.
Blizard, is there a way you can explain exactly how the dots are drawn? Iāve been playing with ToSās ZigZag but havenāt had success replicating where the dots are drawn with any consistency.
Thanks, again, for the great forum. Any help for this MAC user would be greatly appreciated. Also, if any other MAC users know of a different platform (Iām not partial to ToS) that supports MACs and that can utilize the EAs presented here, Iād be interested in that as well.
I have spent the past 2 weeks reading every thread and making modifications to the files given in post 1 and then again on the 6th page EA that was posted by stock.
So far i have been able to consistently gain 2-5 pips out of each swing on 4 pairs with 10-15 trades per day on each pair (I trade from 2am to 10pm EST time with a nap in the middle). Thats the good news.
The bad part: I can not get the EA to work at all. I can not get the lines to auto update for anything. Ive reinstalled MT4 about four times now. Can someone PM me or just update in this thread with what I am doing wrong or a step by step setup to get the EA to auto update? Doing it manually is no problem at all but I would like to start testing and work on some of the mt4 code with a friend of mine. He has another system he got from some traders that trade for a living and there is room that their system can be incorporated with this system for even greater profits and predictability with the top 6 pairs. Ill post again when that strategy comes along but PLEASE SOMEONE HELP WITH THE EA !!! Im about to pull out my hair and i dont have much left PM me or just update here please.
Are you sure that you placed it in the experts folder and not in the indicators folder?
@goodpunk - Positive.
Is the Expert Advisors button clicked on at the top??
Yes I can see it is on. When I click it the modify settings comes up.
set the mini bars to three. set display trade signals to false
Thanks for the good trading system and indicator, now i can easy to get the support and resistance level easy by the indicators, it make me easy to gain pips. thank you
