I hope they paid you or at least bought you a pizza! Lots of work went into that system.
I use it for lots of my trades now!
Thanks it.
Gratz
System of the Week!
Just a really noob question.
After I downloaded the zip file, how I integrate them with MT4 platform?
Copy all 4 files inside āIndicatorsā folder to āC:\Program Files (x86)[I][YOUR_MT4][/I]\experts\indicatorsā then restart the program.
Then add the indicator into your chart and save it as a template.
First time poster and have what is probably an ignorant question.
When setting up the ATR Channels, MA Period is 40 on a number of pages and on the variable definition. However, in the Programming of Indicator, it says the ME Period will change depending on timeframe ranging from 8-19. However, on the 5th page it shows ATR Channels (26,16,2) and the next page after that it goes back to (26,40,2). Why the changes or is it a typo? Also, most periods I see for ATR are 14 instead of 26. Did I overlook something or skip by something that explains this?
Thanks in advance and sorry for any inconvenience.
EJ
Hi EJ, I presume youāre talking about the prorealtime version? Unfortunately I couldnāt work out how to get it to automatically change values for different timeframes like the MT4 version does - Prorealtime doesnāt seem to have an equivalent value to MT4ās Period(). That means youāll need to experiment with whichever timeframe you prefer to use and find the best settings. For ATR channels, its a case of adjusting until most reversals/take profits occur in the extreme channels - you should be able to see easily enough with the chart zoomed out. You donāt want the MA moving too quickly, else it responds to the price and the extreme channels never come into play. Too slow and it gets past the extremes too often.
Similar with the ATR period. If its too short, youāll get sudden widening of the bands due to a few large candles. Too long and it can take too long to adjust to changes in volatility. So again its a matter of experimenting and finding the balance that looks right to you. As its such a visual tool that helps you interpret the context of the price action, its best if you find the fit that you feel most confident with, as only then can you base trade decisions on what its telling you.
Hey Slipshod. i really like the basic premise of the TW strategy. i have been trying it out this week and my account is up 4% for the week with 5 winning trades and 2 small losing trades. I like the idea of trading from a longer time frame chart but using a shorter time frame to pin point entry and to manage the trade once in. this has helped me get out early when the trade doesnāt work and to manage the trade with fairly tight stops once in the money. i like to open two trades and take one off for fairly small scalp profit, then move the stop to break even and manage the trade stress free from there. Thanks for the information.
Hi, iām trying to insert ātrend lineā indicator on another platform (not MT4 or Pro trader) of my local broker.
How did you create it?
thanks
Hi Slipshod, first of all thanks a lot for publishing your system. I really like it especially because it helps me to follow strictly a strategy which I was not so great with. Iām using your indicators with prorealtime and I would like to ask your recommendation about the different settings and fine tuning per timeframes. Do you have some best practices with the trendline and stohastics configuration for 4H, 1H, 15M timeframes?
Hi kkrisz, firstly what Iād really prefer to do is find out how prorealtimeās scripting language can discover what the currently selected timeframe is. There has to be a way surely! If I can do that, then I can configure the settings for each indicator and have it automatically adjust when the user changes timeframes the same as Iāve done for MT4 - no manual changes required.
Secondly, the Stochastic is actually the one indicator that doesnāt need different values for each timeframe. I have, however, modified it to work exactly as it does in MT4. Change the programming code in the indicator to this:-
s0 = Average[3](SmoothedStochastic3 *s, 3 *k)
s1 = Average[3](SmoothedStochastic4 *s, 4 *k)
s2 = Average[3](SmoothedStochastic5 *s, 5 *k)
s3 = Average[3](SmoothedStochastic6 *s, 6 *k)
s4 = Average[3](SmoothedStochastic7 *s, 7 *k)
s5 = Average[3](SmoothedStochastic8 *s, 8 *k)
s6 = Average[3](SmoothedStochastic9 *s, 9 *k)
return s0 as āSR 0ā, s1 as āSR 1ā, s2 as āSR 2ā, s3 as āSR 3ā, s4 as āSR 4ā, s5 as āSR 5ā, s6 as āSR 6ā
Set k to 1, and s to 3. Iāll update the prorealtime pdf with the changes, but Iād very much like to upgrade the other indicators as well.
Hi Slipshod
Where could i learn about Wolf Waves best? I downloaded Rules for Bullish WolfeWave Structure. but I still donāt understand how you drew those lines on the page of Trade Signal, AUDUSD 23 Dec 2011.
Thanks
CHAIKI
Hi Chaiki, thereās an explanation at Whoās afraid of the Big Bad Wolfe? | Forex Training Wheels - hope it helps. I will sometimes trade wolfe waves if thereās a strong take-profit/exit signal given by the TW rules, that is, stochastic in extremes and price in atr extremes, and the wolfe wave indicates a reversal. Otherwise if I see one appear that would ruin my trend, I stay out of the market.
Iāll work my way through it and let you know how i get onā¦
R
Hi there
First of all let me just extend a BIG thank you for all the effort youāve put into thiw system. Iāve tried your system for a week and it seems promising. It helps the trader take decisions based on facts which is great. I have added a simple semafor indicator to see highs and lows (this helps me alot with identifying triangles) and breakouts and thus improved my overall performance.
Thanks again (and merry Christmas)
Hi Mr Slipshod, from the manual your system looks fun and educating! Iāve downloaded the indicators and have put it in the experts/indicator folder however I couldnāt get it to the chart. I restart the platform but still no success.
All the indicators showed in the Navigator>Custom Indicator menu but when I double-click or click-drag it didnāt show up in the chart.
This is what the it says:
2011.12.28 09:42:18 Cannot open file 'C:\Program Files\Trading Point MT4\experts\indicators\EndOfBar.ex4' on the EURUSD,H1
2011.12.28 09:42:25 Cannot open file 'C:\Program Files\Trading Point MT4\experts\indicators\TW_ATR_Channels.ex4' on the EURUSD,H1
2011.12.28 09:42:27 Cannot open file 'C:\Program Files\Trading Point MT4\experts\indicators\TW_StochRainbow.ex4' on the EURUSD,H1
2011.12.28 09:42:30 Cannot open file 'C:\Program Files\Trading Point MT4\experts\indicators\TW_TrendSignal.ex4' on the EURUSD,H1
Iām using demo account and MT4 provided by the broker. Am I missing something here?
** Iām total newbie in forex, and not very good in English, but I hope you can understand what I mean **
Hi Cricket, thatās not a problem Iāve ever run into. It looks like you donāt have sufficient rights to access the contents of the MT4 folder, and I imagine any custom indicator you tried to add would be affected by it. Has anyone else seen this error & have a possible solution?
Slipshod I think youāre right. I tried to add another custom indicator and it show the same error message in the console. I can copy-paste the file into MT4 folder but the indicator fails to initialize in the platform. I think Iām going to try to reinstall MT4 some time later,
slipshod, good work
applied your indi to chart and waiting for signals =)
Right click on your MT4 icon and Open as Administrator.
Thanks, slipshod. I appreciate the tip. Iām still getting a feel for how to do all this and hopefully soon my time will free up a bit more to allow for more frequent attention to trading.
Thank you Neomatic, but Iāve clean install MT4 in another folder C:\MT4 instead of C:\Program Files. I think it has something to do with UAC in Win7, but installing it in different folder solved it. Now all custom indicators can be install in MT4. Iām not sure if this is the best solution but it works.