By a little repair to this indicator I was success to have compile of this indicator.
This the file (ext .ex4) of compile from this indicator
Attach this indicator to chart and set the period you want for example you want GBPUSD,H7 chart , attach this indicator to GBPUSD,H1 chart and set the the PeriodMultiplier to 7 and check the “Allow DLL imports”. You can open your required chart from file menu => Open Offline, choose GBPUSD,H7 and click Open. Your chart will be live like the others timeframe.
Found it on another forum… If someone has a better way of doing it with mt4… please let me know…
very often we can see uptrend on one tf and downtrend on other one (dont fit to the formula you gave)
I thought it depends on quantity of trades and their amount
Thank you for the quick response Tymen.
I’m glad your confirmation that I use for my entries, even if my method is basically a little different I have improved with your help.
In fact I now use the BB, and I understood how to use them wisely.
The CBL is a great tool that helps define the best entry.
Could you open the graph I posted, where I trade shows that I made, using multiple lots based on the method of exellent exellent Graviton, who also brought me a lot, as all others elsewhere.
I say that we are fortunate to have a great thread, with two high-quality teachers that are complementary, and the more members the more experienced hand to bring the dough to move the group.
Congratulations to all for your efforts and altruistic qualities.
In terms of my préfference, the city gives all nearby, but I prefer my village because I know everybody, and besides it’s my hometown, so I’m biased, I am a peasant to retraining because of the big health problems.:eek:
As I said earlier, I am convinced that your human qualities will touch your new neighbors.
The only thing that you may miss is the ocean, and constantly renewed his show …
The reference to “…the same questions…” was, in part, a reference to whether the CBL was now to be drawn with one candle or two. There are two excellent discussions of the principles that, unfortunately, appear to be in conflict. And, I hasten to emphasize “appear,” because the conflict may lie simply in my continuing lack of understanding.
In the excellent presentation of material that Tymen gave in messages 3027-3031, we see the trades being made on the basis of 2-candle CBLs. Further, in the diagram accompanying message 3028 the entry candles are clearly cases where the CBL is crossed by wicks - not by candles which close below (short trade)the CBL.
However, in the PDF entitled “Bollinger DNA Count Back Line Rules” we have the very clear statement: “After some investigation I have concluded that one candle for our CBL is all that we need!” Furthermore, the accompanying explanation includes two additional rules having to do with the size of the entry candle’s body which are applicable in some, but not all of the cases discussed AND the admonition not to enter “…until there is a close…” above/below the CBL depending on whether the trade is long or short.
So…I dont know which is the correct situation:
To enter we need a crossing of a 2-candle CBL but not necessarily a close that violates it.
OR
To enter we need to violate a 1-candle CBL with a close AND we also have additional rules to apply which are explained in the PDF.
I’m trying to lay out my “Rules for Trading,” but obviously I’m confused.
I’d appreciate any help I can get with sorting out my confusion.
Thank you heaps for your strong encouragements NForex!!
I will adapt as best as I can.
Most importantly, I have some peace with my trading.
That is, if the barking dogs will shut up.
[B]These small towns are very quiet but they are filled with barking dogs [/B]- a real noise problem.
I would rather have the sound of traffic and ambulance/fire sirens.
The most important thing is that you understand what a CBL is trying to do.
It eliminates the potential entries on retraces or at least, attempts to do so.
When we understand this, we realise that a 3 candle CBL is the best for doing this - 3 candles really does well to keep you clear of retracements.
But with the BB DNA method, we have only short trading distances.
Therefore, a 3 CBL is too much - most of your trade is gone.
So we go for next best - a 2 CBL.
[B]The 2 CBL uses 2 candles when the extreme of the two has the larger body.
It uses only 1 candle when the extreme of the two has the smaller body - this is done to eliminate giant sized useless candles.
If the extreme candle is a super sized candle, we can cut it in half - we can also forget about that entry, the choice is yours.[/B]
I was happily using the DNA method with these rules until others came along and tried the method using shorter timeframes.
Complaints came forth that the CBL was giving problems, especially regarding entries in the NO TRADE AREAS.
To attempt a solution, I invented a 1 candle CBL with the special provisos that we all know - next candle smaller body + close below CBL.
[B]Since we are now not using the NO TRADE AREAS, we can safely go back to the original (and the best).[/B]
And to think i was a little looked down upon during the candlestick adventures, and here we are with a 5 lot contract approach:D! Albeit this one eliminates severe overtrading:D! Problem isnt trading is fun, its really really really fun ha:p! Exciting new chapter here im all ears:)!
This up-to-date synopsis is both helpful and much appreciated. Perhaps combining this, along with the Rachel/Denise images, would be worth taking the time this weekend to update the PDFs. I’ll see what I can do.
I have been having some fun using jonesboy’s 2m charts idea, hitting on my last four trading attempts. Taking boll squeeze CBL entries in the direction of the higher TF trend direction seems to be working. One just needs to be mindful of any nearby S/R lines that may lie in the direction of the proposed breakout.
In any case, I feel we have done a pretty good job of summarizing and clarifying the current iteration of BB DNA. I’m sure there will be more questions over time, but the chat room has been very active and everyone has been learning and gaining some good experience.
I am ever more convinced that using these great DNA entries on a larger TF would seem to dovetail nicely with Graviton’s multi-lot strategy. The best time to use multiple lots is when one can be reasonably assured price will continue over a longer term trend. (The bane of multi-lots seems to be those occasions when trades fail to move at least 40+ pips before stalling out and/or retracing. This is more common on daytrading TFs.)
If Tymen is ready to move on to macro, I say: let’s get started!
MP…many thanks for the existing PDFs and … Yes, Please…we would all appreciate an integrated update to include Tymen’s recent answer to the “CBL issue” of 1, 2, or 3 candles.
I have yet to use Graviton’s 5-lot strategy but I’m looking forward to seeing how it will play with Tymen’s “macro approach.”
Many thanks to you and to all who continue to contribute so generously to us newbies.
I have just had a private message from [B]Piphanger [/B]who would love to see those PDF’s!!
The best time to use multiple lots is when one can be reasonably assured price will continue over a longer term trend. (The bane of multi-lots seems to be those occasions when trades fail to move at least 40+ pips before stalling out and/or retracing.
Yes, of course.
Scale in trading is fraught with danger if there are potential retracements.
It will kill this type of trading.
That is why I am taking my time developing such a strategy for the GFT program.
It still appears that the Fibonacci ratios method is the best way to handle such retracements.
Further, the problem with an exit strategy using a trailing stop (manual or otherwise), is that it works against the basic fundamental trading rule “cut the losses short and let the profits run”.
Very often such a strategy fails unnecessarily, it gets you out just at the moment when your trade needed just a little more space.
The best trailing stop loss I have found is the parabolic sar.
Scaling in contracts is a difficult thing and if a retracement occurs just after another entry, then those pips will be lost to wherever the stop loss has been placed.
The strength of the 2 contract entry method is that it can handle smaller pip movements but the loss is 2 contracts instead of just one if the stop loss is hit.
Not certain about this, but I think that my development is going to see a multiple contract method consisting of less than 5 entries but each one has a greater pip spacing between them.
If Tymen is ready to move on to macro, I say: let’s get started!
I would like to have the opportunity to develop this multiple entry method first if possible.
If it is going to take longer than expected, then sure, I will get started on the macro method. After all, we still have the 2 contract entry method.
Also, you wanted to walk me thro your chat room so that I could demo some trades.
Would you still like to continue with this?
I would be happy to learn if we can arrange a time - New York time is exactly 12 hours behind mine.
(if it is midnight in New York, it is midday here).
Tymen, if Piphanger (or anyone else) would like to get copies of the three PDFs I’ve made so far, they can simply visit the BB DNA homepage and download them at any time:
Bear in mind these were the original editions made during the course of this thread. I will try get them updated over the weekend.
As for the whiteboard/conferencing site, I could meet you on the chat room in about eight hours after I return from work (11 am your time?) and we could take a few minutes to familiarize you with the Vyew site. There is an introductory video I made on the homepage of the chat site (link above) if you haven’t seen it yet.
If later today doesn’t work for you, I’ll be around for most of the next three days; we can just work out a time that fits for us both.
Just wanted everyone to know who uses dealbook 360 with GFT. They told me they are working on the price avg. and we should be able to use multi lots the right way in 1 - 2 months.
I am new with them so they may have been saying that for months now…
