Can anybody be kind enough to help develop this indior further? I'm considering the indior generating arrows and alerts on strength breakout cycles. Thanks guys.
https://www.cliqforex.com/attachment...6807968245.mq4
Can anybody be kind enough to help develop this indior further? I'm considering the indior generating arrows and alerts on strength breakout cycles. Thanks guys.
https://www.cliqforex.com/attachment...6807968245.mq4
I second what LITEchild is saying, though I'm the one nagging concerning the repeating alert, chief reason being the fact that I like trading brief TFs and receiving multiple alerts in the same time virtually at each pub after the arrow is a significant annoyance for me. That doesn't reduce the effort already made by MT7 therefore I'm twice as grateful for his new endeavour.
I will add my most recent trade still alive, which can be risk free at the moment and struggling at that level. I might opt to shut it soon if it doen't proceed any farther as the London session is at an end and after all it is a CT trade, though the newly formed arrow gives me some assurance in holding.
fingers crossed I expect you are gonna share egy when indior is finished...I can see you've got something coming using this indior and egy to be used.
THIS IS THE NEW LOGIC I AM USING FOR FILTERING STRENGTH AND DIRECTION FOR DAILY TIMEFRAME ONLY
INTRA-CYCLE BREAKOUT
1. BUY ARROW PRINTED ONLY ON STRENGTH BREAKOUT WITHIN THE GREEN COLOR CYCLE!
2. SELL ARROW PRINTED ONLY ON STRENGTH BREAKOUT WITHIN THE RED COLOR CYCLE!
EMPHASIS: This logic only applies to the Daily Timeframe.
If MT7 can code this logic as a separate tool(arrow) That could display on the time period to direct for daily TF management, that would be awesome!
Thank you for the detailed explanation 4fx. The first thing jumps out to me is the fact that these appear to be rather a lot of pairs to see on a 5min chart for intra-day scalping. A way to filter down to the probability trades may help. However, if I do realize that distinct styles suit different traders, therefore this could still work well for you. Fantastic luck.
Over CS based on indiors, I utilize a matrix i.e. I compare the pair I'm interested in with different pairs containing exactly the very same currencies, like when I wish to input GJ I look at GBP pairs and JPY pairs too to see whether they're in agreement. I do look at HTF but mainly up to 1H and S/R PA.. My primary is 5 min.
My transactions for now explained:
This was a lengthy long entrance and when I realised it was bouncing off the resistance, I closed with a few pips gain. The next brief arrow was a splendid signal which I did not take because I was away.
This has been shot in disagreement with the arrow as often when on m5 you see alternating up and down arrows, which typically marks a range and it makes more sense to sell the peaks and buy the dips. The reason I exited so early was because the end was small so my bet was large and that was the 1st profitable trade of the afternoon, so in that case I usually plan for 1:1 R/R. On later transactions I hold to get more pips at the cost of shutting at b/e (like in the trade that I showed in my previous post).
This really proved to be a very dumb commerce which captured me biased for longs while it was bouncing off a quadruple top!!! So it got my stop. A reversal on the red arrow would have cut the reduction and turned it into a profitable commerce, but, as I said, I was biased at the time (can not even recall why), and was also diverted by something else so that I paid the full price for it. No excuses!
Here is the transaction I was reporting before, which I ended up shutting at the triple top and near the London close.
Many chances like these arise every day on m5. It is a egy based mainly on PA encouraged in a way or another by the indi you provided and although quite a few alerts pop up at each pub, I still manage to deal with a few good transactions. I tried in the past a similar approach by using the tick volume, which unfortunately has always disappointed me, but this indior appears like the right one. Thanks again for submitting it and to MT7 for optimizing it. I hope we will see his next jewel shortly, so that I can finally get rid of my earplugs
Thank you Ghost! You have been very generous in sharing so much of your scalping methods. This indeed will also be a tool that is great. If I can handle the stress involved I'd begin sharing a thing or two I've found useful. Fingers crossed...
Interesting trade 4fx. Thank you for sharing. Can you do any sort of CS and or HTF analysis prior to taking a trade?
This should be a Fantastic addition friend, I can see where your going with this, waiting all of the best LITEchild, GW