We were talking about backtesting the other day I know what you are saying about the daily MAs. I will look into this some more I think there is a way to scroll through MT4 history one candle at a time. That won’t change the daily MAs but maybe you can watch the stochs on the 1 hr chart. I guess what I am hopping is the filter of the 1 hr stochs will prevent some trades if the 1 day candles are in a strong trend.
What you said about taking a counter trend trade is true the question is always how many pips is this good for. My way of handling this has been taking many small trades in one direction with the goal of about 10 pips each. Entering at an extreme overbought/oversold range on the 5 min chart trying to cover the spread as quick as possible, Then getting out as soon as price stalls or starts to turn around. Then getting back in at another good entry. This does not add up to as many pips as your way but the win probability is high and I make each trade a little bigger.
Rui I know you and I have talked about this and we do things different. I just thought I would throw it out to the people new to this as an alternative that has worked well for me. A different approach to the same problem;).
I don’t know if this is happening for anyone else, but I installed a slow stochastic with the 10/2/4 settings and I’m getting several fakeout crossovers of the stochs on the 1H. Is anyone else getting this? What stochs are best for the 1H filter?
seems that every body lost interest in this thread now… including myself.
i think this one had become to confusing, and i blame some crazy posters that had made their own crazy alternatives to this simple system.
i´m working in a new aprouch to this MMTT system. i´m trying to improve the win % ratio keeping at the same time the RR ratio that this system always brought… at least to me.
my goal is made this become so accurate that will give us a average 70-80% win % ratio with at least 1:2 rr ratio but that will made us catch trades with huge rr ratio too… and all this by keeping the simplicity
my work is still not completed but i´m so close that it just miss a small click in my head to finish it
every body that is interested in follow the progresses that i being made just come to the chat room that is posted in the first page of this thread. you can give me your own opinions and ideas and maybe help me test mines.
like it was being discussed in here, the problem with this system is that during strong trending markets it will give us a lot of small losses and a lot of BE… and that becomes very frustrating… but this is almost solved and pips are arriving…
mean while i´m still following the initial mmtt system and still making good results with it.
for every body interested just join us in the chat room
Hi Rui, I for one am still interested. I still read the thread whenever there is a new post. I just don’t post much myself.
will join the chat whenever I get a chance
Same here
I have not had a lot of time the past few weeks to trade at all:( but I do keep an eye on this thread and I am in the chat often but at odd hrs.
I agree the thread has become cluttered with off-tangent posts by others and should probably be restarted once we have the stochastic filters worked out to our satisfaction. But I certainly don’t think people have lost interest in MMTT; just we had a couple nasty weeks there and the strat is going through some necessary changes (and improvements) is all.
this is the stochs i´m using now… merchantprince is already familiarized about how i use them
the main problem, and the missed link that will make me get my goal is when to use them in each TF.
sometimes it should be used in 1h and 4h and sometimes it should be used in 5m and 15min.
i now how to do it by looking at PA, but i want to find a way of know how to do it whithout using any kind of judgment of my mind.
so far my win ratio using it is around 80% in two weeks, but i keep choosing wich trades to take or not to take without any speakeable reason… i just need to find a way of tell my self why to take or not that particular trade.
when i found that then i can tell that my goal is reached
Does anyone know how to insert a given indicator into a chart in MetaTrader 4, customize it, then export it again as a renamed custom indicator that one could then share with others?
When you say customize you mean change the mql code of the indicator? or just change it’s setting in the chart? If you are just changing the setting in the chart then you can save that as a template and anyone who uses that template will have those same settings.
Yes, I believe that’s what I’m trying to do. Rui is currently using the stochastic oscillator in MT4, but with different settings and the additional fixed horizontal lines you see in his screenshot. I have this type of stochastic already set up on one of my charts but would like to save it as a template so it can be easily and quickly added to other charts - and shared with others, which is something I’m sure Rui will want to do at some point.
With the price is outside either daily high MA or low MA, i can trade decently.
But when the price is playing inside the MA, im lost. I know it goes to the fact look at the HL and LH. but obviously the SL alwasy triggered making my earlier win burned.
Rui and I talked today about him posting here with some of the work that’s been done to improve the strat. He should be along shortly to give some tips as to how he is using the new stochastics to get more winning results. Once that’s up, I intent to redo the PDF (probably have to rewrite the whole thing!) and we’ll likely start a new thread.
In the meantime, be sure to visit the chat room daily, you will learn quite a bit.
ok. merchantprince have insist to me to put my new improvements in here, and i will do it today.
but like i told him this is not yet tested as it should and it may work or not, i have being using it for the last 2 weeks and using all the rules i will post i would had only 2 losses in those 2 weeks… but those rules will made this system more boring and we will need more patience… because we would not have all those exciting small losses before the big wins.
in back history this looks promissing and in fact this is still the original MMTT system only with a filter on it… the filter will make us miss just a few winning trades but it will make us miss a lot of losing trades… the RR ratio will be the same or even better.
like i said i only have being doing this for the last 2 weeks and i would like to test a lot more before post it in here but the merchantprince is doing to much pressure
Merch
in metatrader get your chart set up the way you want with what ever indicators. then on the top bar of metatrader there is an icon that says templates and it has a save option. so click save and give it a name. then when ever you open a new chart you can right click on the chart and in the drop down list that appears you’ll see templates. click on that and the one you saved should show in the list of templates and you click on that one and it loads up the new chart just like the one you saved.
That template is located in your brokers folder somewhere on the C drive. if you want to upload it for others to use. I think the extension is .tpl
this is a multitimeframe moving average. this will show the dailly channel in any timeframe you are looking at. this is for metatrader.
besides that you´ll need a stochastichs with settings 25,5,5 and with the level lines at 10,20.80,90. in stochastichs we only want to see the signal line, just put the main line in the same color as your background color.
i will upload a template as soon as i can find their location.
