unrealmedia, have you tried with a diferent broker?
here the last friday trades using divergences on rvi, + stochastic as overbought/oversold indicator. stochastic is just a secondary indicator, that gives a basic idea of how the market is going. It works nice on ranging days, when fakeouts use to occur when it is in a oversold/overbought zone. On trending days i use to apply it only on the counter trend signals. Some times when it is oversold/overbought the price tends to retract again until the breakout line or the 76,8 fibo lvl, so there is a better entry there.
settings:
stochastic:10,3,3 lvls 20-80 (25-75 on the pics to show it clearly, but i find 20-80 more reliable.)
rvi:5
There is a 1st fakeout just before the A circle, there was no divergences, and stochastic was in the oversold
zone.
A zone: here we have horizontal breaks, there was no divergences, and both were in oversold zone.
B zone: 1st breakout after a big divergence, but a little far form it, in overbought zone. 2n one has clear hidden divergence on the nearest low and the stochastic in optimal position. Target on the 261.8 lvl, using the Goodpunk6 exit strategy, Sl at the last low, that give a 1:3 RR ratio.
there is a 1st down fakeout, the stochastic is not oversold, but there is no bearish divergences, there is only a unfinished bullish divergence.
The last breakout, is an other perfect setup, the stochastic is coming from oversold zone, and is not overbought. There is a hidden divergence on the last low, showing a bullish movement. tp over 100 pips, sl on the last low; 1:6 rr ratio.
This is my first post along with the first trade that i made using your system. Unfortunately (during work) I cannot use the swingZZ indicator in the web based chart that I am viewing. So the trend lines are drawn manually assuming HH and LL.
If anyone can advise of any free web chart that will allow me to use the swingZZ indicator then I will be very grateful. However at home I have installed the indi and Tonnakaâs EA and am experimenting with it.
This thread has developed nicely and the contributions are wonderful.
I love your additions to the system. I took 14 trades in oil today 9 winners. The other 5 were a result of trying to pick a top. That was foolish today. Got long 3 lots here. Took one off at the 161.8, 261.8, and 300 levels.
I too have added something to the system. I hated the fact that this was truly a breakout system. That there was nothing to do in between the lines. Well, a cross of the cloud is a signal and the coral is a filter. I do take some countertrend trades but we have got to be on a 61.8 fib, oversold or overbought against resistance or support, and we have a closed candle beyond the cloud. The settings for the cloud are 2,5,8. Do not use any of the moving averages. Check it out.
I hate the fact that I have resorted to adding indicators to this method. I donât like them and never really can get over the lag. On a 1m however, the lag is super minimal. I concede that without them I donât think I would have done so well today. I was watching the chart naked with the EA and pointing to trades that I would have taken but didnât because the stochs and RVI said otherwise. A purist in price action made a believer.
The indicator repaints, as I see last red dot moved, I took a trade based on this attached picture and lost, I will try a few more trades. Looks great on charts but hard to tell unless we take trades as it repaints.
wow, thats awesome, i will try your retracement+cloud at the 76.8, 88.6, 127 and 161,8 lvls too ^^. The cloud idea can save me from the premature entries on this retracements, which are killing my profits recently⌠if it works on this fibolvls i will post there some setups⌠this looks promising.
I heard that over than 97% of people who trades with indicators are losers⌠thats because they use them as main entry signals, they are trading the past on live trading⌠they lose⌠nothing newâŚ
who are this 3%? the guys who use them as a secundary tool. we are not following them like blind people, we are using them as a filter, as a confirmation tool. Thats the true way to use indicators!
yes, it repaints, but thats not important, because we are trading using confirmed dots. that trade you took was a fakeout, but the setup was correct. I recomend you to change the swingzz setting from 4 to 2, or atleast 3 if you want conservative settings.
same chart you posted using zz2 instead of zz4, with rvi+stochastic;
rvi= black
stochastic=blue
i have put them toghetter to make it more comfortable, the indicators and settings are the same.
as you can see at the 1st breakout there are no divergences, and stochastic is not oversold, you could have taken 5 pips, the price stops at the 161,8 expansion from the previous wave. when you have entered based on the zz4, the stochastic was in the oversold zone and there was no divergences.
the bullish break has a slightly divergence, and there was a triangle breakout, so tp at 261,8âŚ
Hi crisscross.
FXCM webplatform has a zigzag⌠is not the same but it usually bring similar signals.
today i have tried goodpunk aditions. entered on 161,8, 127, 61,8 and 76,8 lvls⌠so many trades and nice breakouts today. Using this system i found a 40% succed. Im using a really thight sl, and large tp, so i have earned like 100 pips only with pullbacks⌠today is one of this "good days; when we should take the maximum profit possible.
here a trade that im still on, position divided on 4 parts:
well, the 2 trades have hit tp, total +184 pips
entered short on this great divergenceat, after the 261,8lvl bounce. closed half position on 61,8 lvl⌠i will probably close another part on the 88,6 lvl, and let the other run until the 127lvl or the 61,8 sl. gbpchf is moving fast this days⌠And so many oportunities there on this bearish gbpusd and eurusd breakouts. near to 350 pips today, between the gbpusd, gbpjpy and gbpchf moves⌠all 3 have reached the 261,8 lvlsâŚ
have a good wekend!
Any losers? Indeed, there are tons of extra pips and ticks to be made in between the lines. The cloud seems to be doing itâs job. That short was above the coral but I can tell it was up against some serious resistance and against a fib. Couple that with the break of the horizontal line there and youâve got yourself a winner. Great trade.
Canât wait for Blizzard to get back. I call this take on his system the Blizzard GoodPaw Cloud 3000. Lol. Not catchy at all.
17 trades, 8 losses 5 total wins (until lvl 261.8) 4 parcial wins. Yes i know i was not following the coral rules,and that was a slow coral (77 period). I use it more as a period indicator than as a strict filter. at the 1st trade, coral was changing its color since yesterday, there was not a clear trend and in higher tf it was showing a strong uptrend during the previous days. There was a strong resistance from this descending broadening wedge, + the 127 fibo from the most important highs and lows, wich coincided with the 161.8 from the last dots and this strong rvi divergence. About the second one, i think i probably shouldnt have taken it, a clear counter trend one. However, i though that this triple bearish divergence+ the 261,8 lvl was enough. if you put there the fast coral, you could see that it was at less than 4 pips above. with a sl between 7 and 12 pips i feel protected trading against the trend.
Complex and always dressed, the Blizzard Goodpaw Punkcloud 3000 system. ouch, still worse xD.
we should let 1 more week to test it, and we can start to fix basic rules, about countertrend trades, fibo lvls, divergences, stochastic and tp lvls.
the template and the coral for those who havenât got it. by now try to take fibo retracement at the lvl 61,8 and 76,8 wich seems to be the most reliable and save lvls to trade on the coral direction. Remember only use coral when there is a trend to follow. About the breakouts i use the zz2 because i trade 5min, if you trade 1 min charts or you want less fakeouts probably the zz3 would be your best choice.
Hello Blizard / Others, first of all my congratulations on running a successful thread. I read 118 pages in the last two days. Its gonna take few demo trades for the idea to sink in. At the outset, the strategy looks promising (the one initially devised by Blizard). I should say that things started looking complicated and the charm was diminishing for the past 50 pages. If the other additions are required, it is what it is. I am just hoping we dont deviate much from the price action. I have been trading stocks for the past few years and recently (a month ago) started Forex trading. I would like to have few inputs on the EA before I could start my demo trading. I will post the question in a separate post blelow. I just wanted to use this post to congratulate you guys and wish Blizard could get the best trading system for July.
Before I ask my questions, I would like to shortly summarize the configuration & trading rules that I have been reading over 118 pages in the last two days. I would certainly appreciate if Blizard or other active participants could confirm the same.
[U][/U][B]CONFIGURATION:[/B]
Import the Swing_zz, Pivots, SpreadIndicator, ZCOMFX_daily_trend_2-B indicators found in the main page (post#1) to the indicators folder
Import the Blizard_5_min.tpl template found in the main page (post#1) to the template folder
Import the EA Blizard-zz v-1.00 found in the main page (post#1) to the Exper folder
Restart MT4 and load template Blizard_5_min.tpl, drag and drop the Blizard-zz EA to the EURUSD 5 min chart and activate it so that we see the smiley.
[U][/U][B]STRATEGY RULES:[/B]
Once trading starts on Monday, I should start seeing the lines connecting the higher high and lower low fractals (dots painted by the Swing_ZZ indicator). This is automatically done by the Blizard-ZZ EA.
If the the candles are trending down, we should look for the candle to break the upside line. We will go long immediately after current candle close and upon the next candle open.
We should watch for three obstracles before we take the long position. A) Pivot Points B) 0000 whole numbers C) Bollinger Band levels (particularly between 61.8% and 79%) within 5 pips from the break out. If it is, donât go long. Instead, wait for reverse breakout and place the SL above the resistence level and go short instead.
Stop Loss are set at 10 pips below entry point or the dot on the opposite side whichever is hit first. Trailing stop loss can be managed and its upto the individual.
Take profit can be at 1:1 or 10 pips flat or trailing stops to let the profit run. Again upto the individual
Preferred if traded between 0700 to 2200 GMT
Preferred pairs are EURUSD, GBPUSD, EURJPY and GBPJPY
Please let me know if I missed out on anything. I would like to post my question on the EA separately as I donât want to clutter this message and make it too long. Hopefully, this will help others as well.
I am planning to demo trade using this system from Monday. I am targeting 25 - 30 pips per day. Hope I am not asking too much. âConsistencyâ is the keyword I am planning to practice on. I just loaded the indicators, template and EA today. Today being the weekend, I donât see any difference and I donât see the lines drawn by the EA. I only see the trend arrow showing the days trend, pivot lines, the entry signal arrow up or down and the other blue arrow sideways showing the consolidation pattern. I also see the zigzag lines drawn by the swing_zz indicator. My EA shows smiley but, I donât see the lines drawn automatically connecting higher highs and lower lows. Will I be seeing them only after the market open? Is it OK to add the EA to multiple charts at the same time? Will it cause any conflict? When I add the EA to my chart, I see the Variable inputs window. I will certainly appreciate if someone could throw some light on what each variable means to me? Some are obvious and some are not. If Blizard or one of the other active trader can take a screenshot of the Variable input window, I can certainly duplicate the same. At the same time, I would certainly like to know the purpose of each variable that way I can customize to my choice.
Forget about the bollinger bands. The are no longer part of the system. Paw3000 and I have added the stochastics, rvi, coral, and ichimoku cloud. These additions have allowed us to filter fakeouts and bounces. The cloud and coral have also allowed us to take trades in between the lines. Also refer to the exit strategy I posted a few pages back.
