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Compilation of Gg53's Hints on Trading Made REALLY Simple Topic

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Compilation of Gg53's Hints on Trading Made REALLY Simple Topic Compilation of gg53's hints on Trading made REALLY simple topic Compiled by simplex @ penguintraders.com Trend: returns (1) for UpTrend, (-1) for DownTrend, (0) for NoTrend/Ranging, Consolidation. Peak: returns (1) for Peak, (0) for none. Trough: returns (1) for Trough, (0) for none. Logic: We go LONG if Trend is (1) and Trough is (1). We go SHORT if Trend is (-1) and Peak is (1). We sit on our hands if Trend is (0)…. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9287 The other factors are Volume and its direction, and Currency Strength and its direction. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9418 Another “hint” to Peak & Trough: Use 3 TF’s (such as D1, H4, H1). D1 (in this example) represents the TREND direction. Let’s assume it’s UP. Goto H4. H4 represents the Counter trend. It should be DOWN trend and start to point UP. Goto H1. H1 represents the exact entry. It should start to point UP. Add the early-warning Volume algo to the H4, H1. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9457 You can use TickVolume Above/Below “0” as good indication of “Trend”. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9477 gg53_compilation.odt 1 / 12 Finding Peak & Trough by Volume: In this case we are in a general Down-Trend, so we need to find Peaks to enter SHORT. The Volume_Oscillator, with a few enhancements, does a pretty good job. Minimal to zero LAG, Minimal to zero false signals. Bars are colored by the swing rule found in the “True Bars/Candles and Market Sentiment” thread. So for down-trend SHORT entry we are looking at the Green bars area. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9495 gg53_compilation.odt 2 / 12 Here are the Troughs, accurate even on M1, Filtered by Colored bars per Swing rule. We are in an Up-Trend, so we look for Troughs in the Orange bars areas. http://penguintraders.com/forums/topic/trading-made-really-simple/#post-9508 Ok, finished with my day job. May I ask which “swing rule” you use to color the bars? It’s not obvious for me. First I’ve thought you’re talking about this post: http://penguintraders.com/forums/topic/true-barscandles-and-market- sentiment/page/8/#post-9478. But if I compare your results with this rule I couldn’t end up with similar results as shown in post before your last post. That’s the one… Read again and/or set a parameter for how much “previous” is meaningfull. Another “feature” of Downward swing: As long as bar/candle Low is lower than all the previous bars/candles High – the “river” will continue its South flow (or market sentiment is down). The opposite is true for Upward swing. http://penguintraders.com/forums/topic/trading-made-really-simple/page/2/#post-9529 http://penguintraders.com/forums/topic/true-barscandles-and-market-sentiment/page/8/#post-9478 Peaks & Troughs areas are auto-identified by an indicator. We enter Troughs area in UpTrend, and Peaks in DownTrend. Only things left right now is to PinPoint the desired entry point, and to identify the correct Trend. http://penguintraders.com/forums/topic/trading-made-really-simple/page/2/#post-9605 gg53_compilation.odt 3 / 12 Peaks & Troughs indicator is purely price range based. The ForexGT_VolumeOsc is just to pinpoint (when extended beyond the 80% range) the exact bar in that area for entry. Its Volume is plus or minus according to price median movement (up or down from previous). It is based on the relation of that Volume meaningfull average against actual Volume. Haven’t seen a Peak & Trough similiar indicator post yet (pics @post #9495 & #9508) http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9750 Volume meanungfull average No, it’s not in the database. “Meaningfull average” is being either adaptive average or relative to its TF. Using fixed “10” as an average (just an example) is not meaningfull if you are using M5 or M15. What is meaningfull about 50 minutes or 150 minutes? nada… If you think that 1 hour is meaningfull (just an example) then you should use 12 for M5 and 4 for M15 TF’s. That can be coded without any database, or look for an adaptive kind of MA. http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9777 Just for clarification, G. Neither swing rule nor volume oscillator are involved in finding peak/trough and/or trend functions? Wrong. Swing rules are for identifying Peaks & Troughs (colored bars on chart) in my posts. Volume Oscillator is for pinpoint the recommended bar for entry in the Peak or Trough area. Trend rules not yet explained or defined. http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9967 gg53_compilation.odt 4 / 12 Gr8! Hmm … any recommendations where to start. You mentioned that it should by done using volume, prize, multiple time frames and multiple currency pairs. That relates to TOTAL trading strategy. 1. Selecting the possible (higher probability) currency pair to trade: should be based on Currency- Strength indicator, preferably a scanner based on it. 2. Filtering suggested pairs by Trend strength. 3. Once currency pair is selected, find the retracement (“buy cheap…” – Peak or Trough) as entry. 4. Higher TF’s are the leading trend, entry TF should be opposite (retracement). 5. SL, TP & MM will be separate functions, which will be auto-fitted to currencies characteristics. 6. Each entry should be pending, i.e. either Buy/Sell Stop or Limit. Reason: let the market fullfill your expected direction/expectation. Never enter @market. http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9980 I made some changes to the Volume Oscillator: Instead of contributing the whole “Volume” to up or down bar: I’m only contributing partial Volume according to the ratio of (Close-Open) / (High-Low). http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-9981 As far as I understood it, it’s based on highest high of previous x bars. But you’re right – especially under extreme market conditions one bar can create highest high and lowest low. As I haven’t further investigated this, I don’t know how to handle those candles … You’re right. We don’t use this system prior to announcements, and that’s when those things happening. In general, we stop trading at least 30 min. before announcement, and switch to “News Trading” Tactic, or wait at least 30 min. after that event. http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-10125 Peaks & Troughs are AREAS, which is good to watch and know. VolumeOsc is for Pinpoint the possible bar for entry. EURUSD is in UpTrend, so we look to enter @Troughs areas. VolumeOsc is Pinpointing the recommended bar. If you are already in a trade, it’s a good point to Scale-in, i.e. add another trade. http://penguintraders.com/forums/topic/trading-made-really-simple/page/3/#post-10137 gg53_compilation.odt 5 / 12 Yes, Gadi_TickVolume (or its more updated versions) can point the trend IN THE CURRENT TF, when it’s above or below “0”. But when trading, a lower TF can show down trend while in higher TF its just a pullback. So the question remains: what is the RELEVANT trend? http://penguintraders.com/forums/topic/trading-made-really-simple/page/4/#post-10220 My “logic” was that the volume is spread between Low & High, but its true contribution to the move is between Open & Close. http://penguintraders.com/forums/topic/trading-made-really-simple/page/4/#post-10240 Can someone please write a simple EA that places a Buy-Stop & Sell-Stop pending orders (no expiration): The order should be placed immediatly after Peak changes into Trough and Trough changes into Peak. The Buy-Stop is placed above the Peak & Trough Highest bar +extra pips as user parameter. The Sell-Stop is placed below the Peak & Trough Lowest bar +extra pips as user parameter. Add TP,SL & Trailing as user parameter. This will keep other members here happy with some pips… When the Trend Function finally defined, there will much more happy pips.. http://penguintraders.com/forums/topic/trading-made-really-simple/page/4/#post-10251 After some tests/trials: I prefer Buy-Limit @Close +xx, instead of the current Buy-Stop @High+xx. In cases where entry is in mid-bar, entry should be also a Buy-Limit instead of Buy-Stop. Vice versa for Shorts. Advantage: More pips. http://penguintraders.com/forums/topic/trading-made-really-simple/page/6/#post-10410 After some tests/trials: I prefer Buy-Limit @Close +xx, instead of the current Buy-Stop @High+xx. In cases where entry is in mid-bar, entry should be also a Buy-Limit instead of Buy-Stop. Vice versa for Shorts. Advantage: More pips. G. To open Buy-Limit trade, we need that current price would be below Buy-Limit price. So, the trade can’t be opened after the candle close: 1. Price must go above Buy-Limit open price. gg53_compilation.odt 6 / 12 2. Then we can open buy-Limit order and wait while price comes back to it. Is this right? http://penguintraders.com/forums/topic/trading-made-really-simple/page/8/#post-10536 That’s the idea… Buy-Limit CAN be opened after bar-close, if you open the Buy-Limit BELOW the Close… To get more pips, counting on the fact that price will travel down and back up again (in LONG position).
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