The Cowabunga System

Trading Systems Free Forex Trading Systems
323

Good Work Pipalot!
You saved me a lot of trouble.

324

Thanks Pipalot!

Houmous

325

Thanks for your kind comments and feedback.

As a slight update, I would recommend you to get rid of the last two MACD indicators that I posted as they were not entirely accurate due to rounding errors. I have attached a replacement indicator (MACD-Combine.MT4), this is totally accurate to more decimal places and of course it has the 2 MACD lines and Histogram. The values used in this indicator are also a perfect match for the values used in the OsMA and MACD indicators that ship as standard with MT4 (it is basically those combined into a single indicator chart) and will therefore be a perfect match for the values in the Cowabunga indicator because Cowanbunga takes its values from the MT4 functions iMACD and iOsMA.

However as I said before, you don’t really need this combined indicator, you just need OsMA, PipSurfer uses just the Histogram on his chart.

I noticed that the Cowabunga indicator is currently set to not send email notifications. Turning this on/off appears to be a simple change to the code. I have made the change to the code and I am currently waiting for a valid Cowabunga signal to see if I get an email. Assuming I prove that emails now work, does anybody want me to post a new version of the Cowabunga indicator with email alerts turned on?

Kind regards,

Pipalot

MACD-Combine.zip (856 Bytes)

326

Hey Pipalot, thnx for all your work.

I have 2 questions.

  1. I belive when Cowabunga2 signal comes (arrow up or arrow down) this is the time to enter. So why do we need MACD if it is already included in Cowabunga2 indicator. Maby it isnt?

  2. I see Cowabunga2 signal for long trade but I see MACD positive. I belive something doesnt fit here. Or is it that Cowabunga does not include MACD.

Thank you.

AK

327

Hi VonSmeid,

  1. You are right, if you want to rely solely on the Cowabunga2 indicator then that’s probably fine, the only reason that I also display the MACD Histogram indicator (OsMA) on my charts is simply so that I can manually check what the Cowabunga indicator is saying and also to make my charts look like PipsSurfer’s. It’s really just double checking, that’s all.

  2. Lets not confuse the MACD value with the MACD Histogram value. Cowabunga relies on the MACD Histogram value which is calculated as the difference between the two MACD lines. In MetaTrader4, make sure you are looking at OsMA (MT4 name for the MACD Histogram) not the plain MACD indicator. Anyway, that said, the Cowabunga rules for a signal for a long trade requires OsMA to be increasing and to be negative, unless it has just moved to positive from negative. In other words, OsMA can be positive so long as it wasn’t also positive in the previous candle.

I hope that helps.

Regards,

Pipalot :slight_smile:

328

Hi,
I don’t know whats going on with this indicator. It only works with gbp/usd on 15 minute charts; on all the other ones its just a thick blue and red line going with the trend. Is it meant to be like this?
Thanks.

329

Pipalot thank you. I got it now:)

Rhino: It was made for GBP/USD 15minute chart only. So it is normal.

AK

330

Hi everybody,

Just when you thought the Cowabunga indicator was only for GBPUSD, I have done something nice for you all:

Here is a new Cowabunga indicator:

  1. It should work on any pair (15 minute chart only).
  2. It will email alerts.
  3. It also plays a sound when the alert occurs (email.wav)
  4. It also includes the earlier bug fix for the MACD Histogram aspect.

Oh and here is a Cowabunga chart template too, to make it quick for you to set up all those 15 minute charts. (For each one you need to open a new chart, change the period to 15 min and then simply load the template).

I am turning into a goldmine of cool stuff or what!!!

Regards,

Pipalot :slight_smile:

cowabunga_template.zip (908 Bytes)

Cowabunga- any pair.zip (2.44 KB)

331

GBP/USD
GBP/JPY
ďż˝/JPY

These 3 pairs were recommended to me by an experienced forex trader. I also use Cowabunga system for USD/JPY. But that is just me.

I hope it helps.

And Pipalot thank you for your contribution. Now, could you tell me, do you get those email alerts? I have some problems fixing that. Any instructions how to make it work?

One more thing. It is said if price makes a clean brake I should move Take Profit to another target. My problem is: when I set TP (take profit) and it gets hit and dont have time to move it, because my position is closed in the moment price hits TP. Please help.

I hope you understand what I am saying as I am no native english speaker. I am barbarian ;P.

Thank you.

AK

332

To set up your email in MT4 you need tto do the following:

Go into the Tools-Options menu. Select the email tab and put in your smtp server settings and email address.

You might find that you need a port number after the smtp server setting (with no spaces), usually port 25, for example:

smtp.your_internet_provider.net:25

I presume that you have already know your smpt server settings and you have asked your internet provider whether it needs a password. All I have in my email tab is the smtp server, the FROM address and the TO address (same).

Then click the test button and see if it works.

The Cowabunga- Any Pair.MT4 indicator should send email and play a sound (“Incoming Mail”) almost simultaneously.

For me, the best thing about email alerts is that I can get them sent to my mobile phone. My phone company can offers an email address which goes straight to my phone (I currently use their cheaper service where only they tell me that email is waiting by sending a chargeable text message to my phone). It all costs a little bit of money but for me it is worth it because I don’t have to stare at charts all day endlessly. If your phone company doesn’t have any of these services then there are plenty of companies on the internet that will convert an email into a text message and send it to your phone.

Regards,

Pipalot :slight_smile:

333

Hi everybody,

From now on, all my MT4 Cowabunga Indicator related posts will be made only in the separate thread that already exists (it’s the thread called “Cowabunga system MT4 indicator”), rather than cluttering up this main Cowabunga thread. That way this thread can be used mainly by folks discussing Cowabunga trades / theory etc, since not everybody uses MT4.

Maybe we’ll have a Cowabunga Expert Advisor at some point too. I might try to write one eventually.

Regards,

Pipalot

334

hi guys,

this is my first post here. i want to say that i like the cowabunga method and i’m going to demo it awhile. it looks promising. i hope to get results like you guys are getting.

i’m confused about something.:confused: pls i need clarification on something, i want to know do we take the trade as soon as the EMAs cross(with the other indicators being correct as par the trading rules) or we enter on the next candle AFTER the cross?

thanks in advance guys.

335

Hi, enter once the candle closes, so the open of the next candle - we need to make sure the indicators close at the levels required to generate a valid entry, as per PipSurfer’s rules.

Good luck with your demo trading. Keep us posted with your progress.

336

thanks cowaboi, i wasn’t expecting a reply that fast. thanks again.

just so i get it right, i enter on the close of the candle on which the cross occured as long as the indicators give a valid entry, that way i’ll be in by the next candle,

and if by the end of the cross candle, things change then we don’t enter. am i correct?

337

Yes, that’s it.

338

Thanks for this great simple system :slight_smile:

Could somebody post a template? My OSMA is always positive (15M GBPJPY) or was positive previously. Never even close to negative.

340

sup pimping,
i just dowloaded the cowabunga2 SYSTEM to my mt4 trader but i’m unable 2 use it does it require subscription or key?thanx

341

No it doesn’t require any of that. Make sure that you put it in your experts/indicators directory. Then compile it. Then close and re-open MT4, just to make sure. Then apply it to your chart my latest updated version Cowabunga- Any Pair.MT4 Downloadable from the thread mentioned below:

342

The template for Cowabunga and my latest version of the indicator can be found in the thread mentioned below:

QUOTE=pipalot;26762]Hi everybody,

From now on, all my MT4 Cowabunga Indicator related posts will be made only in the separate thread that already exists (it’s the thread called “Cowabunga system MT4 indicator”), rather than cluttering up this main Cowabunga thread. That way this thread can be used mainly by folks discussing Cowabunga trades / theory etc, since not everybody uses MT4.

… Pipalot[/QUOTE]

Regards,

Pipalot :slight_smile:

343

In case anyone still has any trouble finding the separate thread for my Cowabunga template and latest Cowabunga indicator (both for MetaTrader4), it is at:

http://forums.babypips.com/free-forex-trading-systems/572-cowabunga-system-mt4-indicator.html

Kind regards,

Pipalot
:slight_smile: