I placed a condition which tells the indicator to start beeping once London opens until a few hours after it closes. Exactly from 8:00 am GMT to 19:00 GMT which are the best schedules for this system. Also it will not beep if it does not finds the global vars set by the other two 30 minute indicators
What does the “global vars” thing mean that you wrote? And how do i set that up?
Regards, Juicyt
Also I just had the par dots repaint on me. “Re-paint” or “completely move” is what really happened. I had 2 dots on the bottom, i touched my chart then they moved back to the top. Both of them.
Why oh why would they do this?
Can you please give your thoughts on the following pics? Is there any reason you would not have entered on this setup? I can accept a loss if that is what it is but I may have entered wrong or the macd although green may be wrong.
Well there is nothing wrong with the setup, as you can see price has been with out trend today. Going up and down and practically going sideways on 30 minute chart. I myself lost -15 pips on an earlier trade and -5 pips on another one with very similar scenarios to your pics. After that I decided not go in anymore for today. Losing sucks !!!.
About the other question the “global vars” are global variables which you don’t need to create them, they are created and set by the SAR and MACD indicators on the 30 minute chart. These variables store the way of the trend for STOCH to compare and check if SAR and MACD agree on the trend and to check which way is it. That’s why if you don’t have the other indicators on the 30 min. chart STOCH will never alert you. I am posting a new version of the indicators with some improvement:
The way STOCH was drawn
Took away the alert window thingy (it was getting on my nerves) Now just places a message on the terminal (Ctrl+T, Experts TAB) and plays the alert sound. No more annoying pop up window.
Placed some text informational messages from MACD, SAR about the trend on terminal as well. Just to check out things.
Verified that the time schedules condition is working out.
Also renamed the STOCH file since I took a whole different approach about how the alerting system works. (just delete the old one and use this one)
Well some times you lose some times you win. :(:(:(:mad:
I wait, because if you don’t some times the cross never happens, the cross is practically the indicator that confirms that the price is about to get out of the over zone. I am a very impatient person too, that’s why a developed this 5 minute system, working with longer time frames its not for me.
But loses made me a little patient, as I developed and worked on the system many times I have enter a trade before the close, just to find out that the price it’s not coming out of the over zone. It’s better to wait for the cross, wait a few seconds after that to confirm it, and then enter the trade, is better NOT TO WIN +2 PIPS THAN LOSING -15.
Thanks for your reply. I agree the day was very choppy on the charts and I will accept the loss as it was. I won 10pips earlier on another setup so all is good.
Would really love an ea for this @ 10% risk per trade for 5 to 6 trades a day. That would add up to a very nice profit very quickly even at 80%win rate.
what do you think about this indicator for the 30 mins main trend ok i cant load it up If you would have follow this indicator you would have taken only long positions from 14/7 and forward
You can do it yourself, just follow this instructions:
Open the MetaEditor by pressing F4
Open the file SGSlowStochastic.mq4
By pressing crtl+f, the find window shows up, enter “TimeCurrent” (with out quotes)
Once you found this line of code which is the condition and says:
if(TimeCurrent()> StrToTime(TimeToStr(TimeCurrent(), TIME_DATE)+" 8:00") && Ti …
Just place two slashes “//” before the if, this tells the compiler to over look that command, it will make the color of the font gray of that line.
Then scroll down a little bit and you will find a row of parenthesis like this
}
}
}
}
}
Comment the second one from the end with the two slashes “//” should look like this:
}
}
}
//}
}
After that compile and that’s it, the schedule condition is taken away
Successful day using this method, gaining almost 50 pips! I don’t just trade EUR/USD, but include others also as the system seems to work great for all combinations. I would have made even more if I had been more disciplined and not jumped the gun on two trades that cost me about 15 pips each.
I have realized that you have to wait until the candle on the 5 min chart finishes once the EMA’s cross, or else it can backfire easily.
Well I have only been trading the system for about a week, but it seems like most of the major traded pairs can be traded along this system. Specifically, I had success today with GPB/USD and AUD/USD. I also quickly did some backtesting for USD/CHF, USD/JPY, and EUR/GPB, and they all seem to do well with this system.
That is by no means to say that these pairs are more or less successful than EUR/USD, but I like to be constantly scanning for trading opportunities. I find that with one pair there are only so many opportunities a day, and if you miss one then you have to wait a few hours at times for a new one (using this method that is). On the other hand, with multiple pairs one can be given more chances to make good trades, but again there is the opportunity for more losses also. The best way for me is to set a pip limit and stop trading once I hit that limit.
For example, if you look at the USD/JPY chart, I just now made another trade for some quick pips.
Look at time 16:15, the EMA’s crossed at 95.06 with a downtrending 30 min chart. Went short at 95.02 and collected 13 pips at 94.93.
That is including the spread, but I only had a 1 or 2 pip spread (sometimes varies) when the trade was executed on Oanda.
Now that you mention the spread, I realize that some of the other pairs I mentioned in post #75 have higher spreads (some up to 7 pips) so trading these pairs may not be efficient or worth it for only a 5 pip profit and a much larger possible loss. I guess it all depends on how well the indicators are lining up and if there looks to be a clear move in the trending direction when deciding to trade them or not.
Another reason to let the cross candle finish in the 5 min chart, as you can see in this pic. I almost went short around 20:05, but it would have been a bad idea seeing how the trend reversed despite the MACD lines already crossing. Remember that MACD is a lagging indicator and can change suddenly. If you trade with patience, this system can be very profitable though.
Does anyone know… If we multiply the macd settings by 6 (5min chart to 30min chart) and leave it on the 5min chart only does that replace the 30min macd indicator? And if that does, how can we change the 30min parabolics to indicate the 30min setting on the 5min chart? Is there just a simple 6x calculation also?
Hi Anakin i am a newby here and i just want to find out how with a $200 dollar account u got a per pip value of $25. Can u please explain this ? Who do u use as ur broker ?