so u mean u never bother whether e PSAR dot is outside or inside e BB? if that is e case, then u do not need e BB, m i right? thks
Hi Markoc, i attached one of the chart for ur reference. The Blue line is the Gann Hilo. When the Gann Hilo is under the candle, it means a long signal, when the Gann Hilo is above the candle, it means a short signal.
But we have no exit yet, our exit is set at 10 pips TP at the moment… thanks
Not exactly. I still use the bollingerbands as a general indicator for the direction of the trade. Like I explained earlier, the bollingerbands tend to act like boundaries for the price actions. You’ll notice price fluctuate between the top and bottom of these bands. Notice that we can use this to gauge how much of a move is left in the current trend.
For example, if price is near/at the bottom bollinger band, I would expect a reversal soon to the LONG side. That is because historically, price bounces between the bollingerbands and I’d expect to see it reverse.
Now how is this useful:
Let’s set up a small scenario. We see price has been on the SHORT side for a while, nearing the bottom bollinger band but only now do we see the first PSAR dot. Also, the GannHiLo has not crossed; price needs to go further down. Why would this be a risky trade even if price went down more and crossed the GHL? Well since we know at the bottom of the bollinger bands that we’d expect to see a turn to the upside (LONG), we would not want to enter short if price crossed. Yes there may be momentum, but is it enough to take the 10pips? Maybe not because the bollinger bands indicate a possible reversal.
Hope that helps explain the use of the BBands in how I’ve been trading this system.
As an update on that GBPCHF trade I missed earlier in the day, we see it was excellent in fact and had no problems making the 10pips TP. See attached chart. I am posting it well after the trade but you see that it did work quite well and actually could have taken more pips.
so u only entered on the 2nd dot of PSAR or 1st dot of PSAR? or when u see the cross on the Gann Hilo or wait for the 2nd candle to confirm?
On that GBPCHF I would have entered as soon as the price crossed that GHL. That would have been on the second dot. BUT, you’ll see the candle did not OPEN on the cross so I would have been watching this candle progress before jumping in on the trade.
The first PSAR dot is my indication that there MAY be some action, but it could very well just be a blip/news item and continue against us. That’s why waiting for the second candle and the GHL cross is essential I think.
i see i see… right now what u think of the following:
Short EURJPY @ 136.52
Short AUDUSD @ 0.9262
Long USDCHF @ 1.0064
From the indicators, i think can go in.
btw, i looking at 15MIN TF
The EURJPY I would be wary about, or wouldn’t take yet because I watch the 30M TF, however the other two trades look promising. AUDUSD looks like it will make its move down as it has room before the lower BB and the Long USDCHF looks like one I’d have taken.
I won’t be taking any trades till friday because of school but I will keep posting what I see on the charts. Good eyes on those two, the EURJPY personally I wouldnt have taken but if you’re comfortable on the 15M go for it.
i have indicate a chart to check with you what u mean by got room before the lower BB? are u referring to the space that i mentioned in the attachment? if so, there is also a lot of space on top for the upper BB, so is going to go long soon also?
Yes. The room I mention is more of something you cant really measure but you have to feel for I find.
[B]IF[/B] however this set up was showing up ON THE bottom BBs, the trade would be a nono.
nice introductory concerning the expectancy from the EA and the results i’ve got.
ok, joke to the side… psar and bb give (almost) catastrophic results on the test. i’ve used basic strategies:
-psar reverse, not looking at the bbs, no tp or sl
-psar reverse, only from outside of the bbs, no tp or sl
-psar reverse, not looking at th bbs, using tp and sl in forms: 2:1, 3:1, 1:1, 1:2 with 5, 10, 30 and 100 pips combination
-psar reverse, only from outside of the bbs, using tp and sl in forms like above
the only time i’ve got positive results was when i used psar reverse, not looking at bbs, 30m tf (or maybe 15m, i don’t remember any more), no tp or sl. balance showed constant growth, but the equity wondered around a bit (but in pretty close range, i must say…)
i’ll try to insert gannhilo and see the results then…
the main problem is reverse. very often the candle goes towards the psar, crossing buy/sell line before the psar reverse and order closed… i’ve even considered to include stoch data, since it manages to give some additional info here and there.
i’ll keep you posted
Sounds good. I think through what I’ve traded the GannHiLo really does weed out a lot of the fakeouts and swtiches that can happen mid candle with the PSAR dots. By adding in the stochs and GHL the trades taken will be far less, but from what trades I’ve made they’ve been winners.
If I get the chance to watch the charts today I’ll identify a setup or two I would have taken and post them up.
Great to see the EA in dev stages!!
Hi Markoc, really thanks for ur testing… really appreciate it… as what Soul had mentioned, Gann Hilo is really one of the important “tools” needed for us to gain victory…
hope to hear some good news from u real soon… thanks
I’m quite excited to say I will finally have a day to sit in front of the charts and TRADE! I’ll be watching this system in specific and will post what I see.
Have a good one!
Couldn’t resist and started early haha! Watching the EURJPY for entry signal, very close to a cross. First candle on PSAR short closes soon. Will post all steps of this trade as they happen over the next few minutes/hours.
Lesson learned- be patient and wait for a CROSS not a touch 
This one looks like I jumped the gun, got anxious and didn’t wait for the right indicator. Running a loss right now, wouldn’t be surprised if it hits the SL. Ah well. I learned something. 
Stick to the plan
USDCAD short @ 1.05003; missed the opening of the candle, got in around 25minutes left in it. Wanted to play it safe, targetted 5pips. TP hit a minute later, satisfied
Yesterday’s trade was a loser. Suffice it to say I entered early and not on a cross, will be sticking to the system word for word here on in 
USDCAD chart is below.
guys,
don’t forget to give me specific details on how gannhilo works. when to enter, when to exit…
no (successful) EA without it 
The main thing with the GHL is this:
We enter a LONG position if the GannHiLo is being crossed to the long side, or if price is above the GHL.
We enter a SHORT position if the GHL is being crossed to the short side, or if price is below GHL.
No trade in any other situation.
EURAUD SHORT @ 1.62100. Psychological support level at 1.62000 so I only set a TP of 8 pips to be safe from any potential bounces. Trade lasted 18 minutes.
Trade profit +8 pips
Daily profit +13 pips
