I think this will help with your Indicator problem
Hi jjventural,
I am using build 600 and the coding of the indicator is as basic as it gets, so it should work. It was intended for use only on the 5min chart but I do get a colour change on any time frame.
I only trade using EA’s. So the 3 Ducks indicator came about as a result of building a 3 Ducks EA. I tend to build an indicator for what ever method of trading I think will work and if it looks promising then I build a EA so that I can back test the idea in the MT4 strategy tester.
I did my one-to-one with Andy back in 2009 and I used to look at the charts at 06:00 before going to work and would set any pending orders accordingly, so something that gave me a quick heads up of all the pairs I found useful as time was short.
I would be interested to hear what exact criteria some of you use to enter a trade and how you exit or trail your stops.
Because I only trade with an EA, I only trade on the new bar open. This gives me an advantage because I don’t get stopped out by spikes.
Lets say I was trading the 3 Ducks with an EA. For an entry signal I would use either a multi period look back of the high and low bars as an entry point once all 3 Ducks were aligned. Or a Bollinger band and enter on a close outside of the look back line or Bollinger band. My initial stop would be the 5 min 60 period SMA as a move below this means the 3 Ducks no longer align.
My trailing stop is also the SMA but I never move my initial stop as my EA looks for a close on the wrong side of the SMA for an exit. So a spike that passes through the SMA but dosn’t go as far as my initial stop won’t stop me out as long as it closes back on the right side of the SMA. Thus I can stay in the trade longer.
I don’t use profit targets as I want to milk the trade for all I can.
Just lately I have been experimenting with multiple entries. So I enter as normal, say using a Bollinger band for entry and as price drops back inside the band and then breaks out again I close my original trade and open a new one provided the old trade was in a profit of lets say 10 pips or more. In this way I am going with the flow of the market.
Also I only trade with an EA as I was feed up with missing good trades at 02:00 in the morning and Forex is ideal for an EA as it trades 24/5.
Regards, Trader9.
Thanks digf… I’ll have a look…
Thanks Trader009,
For exit points I also use daily, weekly and monthly pivots and I have stochastic and macd in my charts in case the show divergences in price. This helps me to maximize the amount of pips I got in each trade…
Still checking, but up to now I’m happy with this…
Hope this can help…
Captain, this forum looks very interesting…I have been testing new strategies to be consistent trader which I believe will be profitable later when I stumbled on this forum. I like how you see the trend it is very simple. I like it. I have skimmed a lot of pages since yesterday and I am looking forward to receiving the e-book for my perusal. Anyway I tried to plot entry targets using 3 ducks and this is what I have. EURJPY 4 hr chart but of course will enter at the 5 min… did add some of my analysis from higher TF. 2 DUCKS ARE MET AND A DUCKLING IS GOING TO HATCH ONCE 5 MIN GOES UP…Kindly comment.
Did I cook it early?
Hello bygjj,
I will try to help you out as best I can, but will reserve final judgment for the Captain.
You should not be using the H4 Chart for deciding entry points. The H4 and H1 should only be used for deciding the direction of the trend. You can use H4 or H1 for exit points, but that depends on your strategy.
You should be looking only at the M5 Chart for entries at the break of Highs and Lows (duckling).
It is the weekend so things could change on the Opening next week, but currently on the EURJPY, both the H4 and H1 are above SMA but the M5 is below.
Although the H1 is currently above, it is showing a downward mini-trend, which could be a warning sign of a reversal, so be carefull.
On the M5, in order for the 3 Ducks to align, and for the “duckling” to form, it would have to break one of the previous highs ( 140.999; 141.089; 141.264 - see chart below ), however, since these highs have been consecutively lower (H1 has a mini reversal trend), I would be cautious.
The 140.999 high is OK, but personally I think is too low and risky. The 141.089 is a safer bet as it is higher than the most recent top of the SMA on the M5 and it would also show that the H1 is turning up again. The 141.264 high is the most recent High on the H1 and the H4 chart too, so breaking that would show a very strong uptrend and a good spot to add to a winning trade. However, it will also be a strong resistance zone so I would only consider a break slightly higher just to make sure it is properly broken and not just tested.
That is my own personal take on the situation, and not in any way sponsored by the Captain. I will await his take on things for a better judgement.
PS! My price values of Highs are based on data from my broker “RoboForex” so they could be different to your values on your broker.
Appreciate it. Although I based my entry on the M5. However I believe that I considered the highest swing high on M5 at 141.264 for entry when I can probably take an optimal entry at 141.089. Seems like this is what ducks are usually do. Thanks for pointing this out. I like your analysis as well.
Excellent analysis carnino.
Got the e-book. Thanks Captain. Let me study this. It seems simple but complicated in entry. And we do have a highly volatile market.
Not a whole lotta action out there for a trend trader this week.
It’s the middle of the week and the end of the month (nearly) … so if you are ahead for this month (in da money!), I’d take my foot off the gas and park a profitable month. Saving 2% is nearly as good as making 2% and it will be reflected in your bottom line.
Chat soon Duck Hunters,
Andy
Captain Currency
Andy,
Noticed the same thing, nothing really looks good at the moment.
Hopefully March is good to the Ducks.
Greetings Duck Hunters,
If you need a bit of direction for the trading week ahead (3 - 7 March) it looks like our Ducks would favor:
buying set-ups on these major pairs:
Eur.Usd (price above 4hr sma)
Gbp.Usd (price above 4hr sma)
Usd.Jpy (price above 4hr sma)
selling set-ups on these major pairs:
Usd.Chf (price below 4hr sma) have a gander at chart below
Aud.Usd (price below 4hr sma)
Usd.Cad (price just below 4hr sma)
buying set-ups on these cross pairs:
Eur.Gbp (price above 4hr sma)
Eur.Jpy (price above 4hr sma)
Don’t forget it will be Non Farm Payrolls this Friday coming the 7th but don’t let that stop you from catching a few winning trades.
Chat soon Duck Hunters,
Andy
Captain Currency
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
I ended up trying Usd.Chf when the ducks lined up earlier in the week and was out for a loss.
Of course when I took Friday off, they would of smashed through my level 
Looking forward to a good month
Seems Eur.CHf and Usd.Chf have very similar charts (at the very least, both have 3 ducks lined up). Is Capt. favoring the Usd.Chf selling setup since Eur. is the stronger currency (compared to Usd.) and we want to be trading against the weaker currency (i.e. Usd)? Just wondering. Thanks.
I believe we have to be patient, the Ukraine crisis will probably stir things up! It may be hard to predict the trends!
USD/CHF has just hit a low from the 27/12/13, it’s also quite extended with some nice possible resistance at 0.8860 if it retraces.
Don’t forget non-farm on Friday this could screw with the dollar a little this week.
If we consolidate and drop there is a lot of open space on the higher time frames for a good run down.
I also agree with the above poster, Ukraine is an unknown quantity at the moment but could result in a flight to safety which would usually be stronger dollar and yen.
hey mate… i have emailed you 
looking for a reply… regarding 1-1 course…
Howdy hfscook,
If you can and when it obvious, with the help of your Ducks try and trade the stronger/strongest currency against the weaker/weakest currency. It could mean bagging more profits or having an “easy trade” if there is such a thing …
Had an idea to create a couple of short video lessons on a similar subject just for us 3 Ducks trend traders. Should I get the finger out and finish these youtube vids off? Duck Hunters give a “thumbs up” if you like this idea.
Chat soon,
Andy
Captain Currency
[B]Worst pair to trade[/B] at the moment for a trend trader = CABLE!!
I know it’s sad but sometimes you can’t help but laugh at the market …
Flat, Dull, Drab, Uninteresting, Bland, Lifeless, Boring, Unexciting, Soul-destroying are words you could use to describe cable at the moment!
Have a great weekend,
[B]Andy
Captain Currency[/B]
Hi Andy.
Just been reading through your thread. It’s great to see how long you have been trading this method. Keep up the good work
Kind regards
Tyrone