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NOTE!!! THIS POST ALWAYS UPDATE TO THE LATEST (16 April 07)
Project start : 14 Dec 06
Background :
Based on a commercial trading system called Winning Solution, a clone has been made with a given name "DOLLY" (Anyhow, why should we buy a trading system which still give false signals??)
After doing forward testing, sometimes we found the new day signal began inside the buy / sell area, which made us to postpone our trade until the next day.This usually happened on the day where the currency showed a big movement.
To solve this problem, cja has made the new Dolly based on daily open pivot, The new signal began on the pivot point for every opening day.
A question rised whether this new Dolly as accurate as the previous Dolly since it now gives a significant difference with the host itself, "Wining Solution System"
The purpose: )
Here we will work together to improve the new Dolly (a.k.a Dolly 2nd clone) to its fullest. Everybody is free to do forward test, modify or alter for the sake of improvement.
Day by day, this chart's getting even better than the commercial WSS, and the price?? It's FREE of charge, only we require your contribution for this project. thanks a lot for all the help! Guys, you all are the MAN!!
Thread for original Dolly based on daily central pivot (1st clone) (thanks for thread starter, linuxer, and mostly cja ) Dolly system
The tools which you need for Dolly based on daily open (2nd clone) are located on this page.
BEFORE ASKING ANY QUESTION PLEASE REFER TO
THIS PAGE FIRST
I have attached the indicator and templates exactly with mine
1.Clock v1 2 = gives you the display time for London, broker, spread etc
2.b-clock = gives you the remaining time of each candle
3.Dolly Trading Times = gives you the line which indicate Europe, London, US open.
FAQ (Frequently Asked Question)
Q: I am new here, what should I do?
A: I hope you already got knowledge of MT4 first and know how to trade, then read the posts of this page. Read slowly, learning is a process not an instant. No wonder if no one answer your question if you just come and ask question which you can find the answer on this page.
Q: Should I read the whole of this thread?
A: Yes and NO... If you have time and want to know the whole, go ahead. If you dont have enough time, read this first page, It had already covered 80% of the topic
Q: What are this thread discussing right now? (update)
A: Forward testing is on the run, until now it's still profitable !!!
Developing an EA? Go through Dolly EA thread for specific discussion THe new Dolly is out now, Dolly ver 11 !!!
Q: Thanks a lot, I want to do something in return, but how?
A: Constribute what you can for the development of Dolly, if you can do programming join the EA project, if you want to post your forward test, go ahead. See something wrong and want to give your thought? we would like to see yours also.
PS: Just copy this attachment to your meta trader, and click on template, it will come exactly with mine
you may alter if you wish
ANCOLL Good idea to start a new thread, this way we can evaluate the 2 indicators without confusing the results. This has the potential to capture those bigger moves using the Daily average levels, i guess we shall see as time goes on.
One thing to be aware of is the Pivot is a major support resistance point so if the Pivot is above or below a trading range or near to a TP area be aware price may reverse or bounce, like the MM 4/8 centre level price will usually bounce the 1st time
10/01/2007
H4 turning South and below the zero level, histogram showing upward move has lost strength, H1 turning North but still below the zero level so still has a slight downward pressure, M15 turning looking like it may turn South, histogram showing upward strength is starting to wane, still below the zero level so slight downward bias at present, M5 has been largely below the zero level and is turning South at present but mainly has gone flat. Watch the H1 as the European session opens
Looks like we may have a small run up to around H1 4/8 MM level of 1.9409 & M15 7/8 MM level of 1.9402 while the H1 settles, before price continues South. 1.9348 (MM H1 2/8) & 1.9318 (MM H1 1/8) with 1.9287 (MM H1 0/8)as possible lower target
Look for a steep angle and good separation on the lines - the best moves are when the lines go through the zero level at a steep angle
The histogram gives an early warning of direction and strength
Look for DIVERGENCE on the higher timeframes
If H1 & H4 are turned in the same direction then moves of 120 to 200 plus are on with the GBP
If H1 & H4 are against each other then moves of 80 to 100 pips for the GBP
M15 shows the medium moves
M5 and M1 are used to fine tune the entries, wait for the M5 to just turn if possible confirmed with a slightly previous M1 turn in the same direction this way even if you are wrong generally you will get out of the trade with a small loss or a small profit. M5 moves can show anything from 10 pips to 60 pips or more depending on the day.
Below the zero level is downward pressure and above the zero level is upward pressure
If the M15 is on the zero level and almost parallel to it usually the H1 is fairly flat as well this means the market has no real direction DO NOT TRADE.However the longer this situation continues generally the larger and more explosive the move when it comes - this is a situation often seen on the trading day just before NFP is posted.
The M15 G#MACD moves back to the zero level after a large move, this is NEUTRALISATION and not a directional indication or DIVERGENCE it is merely the indicator resetting - After it reaches the zero level then what happens is important.
UPDATE 16/03/2007 This is the new Dolly #11 with GMT Shift, Pop-up Alerts & an Auto Display option on trading levels instead of Comments. All options are in the inputs tab of the indicator.
A Special thanks to FiFtHeLeMeNt for the GMT code.
I have removed Dolly_Graphics_v11-GMTShift as the latest version has all the same code as this indicator plus email Alert functions. See Dolly Graphics_v11-GMT-Email further down this page.
UPDATE 03/04/2007
Dolly_Graphics_v11-GMT-Email - After many requests for Dolly to have an email function here it is.
IMPORTANT;
Make sure you have enabled the email function on your MT4 platform, Select Tools/Options/Email & tick Enable - click OK - click on Test to make sure it is working and sending mail.
NEXT;
Set your own email to up date incoming mail as frequently as you can (1 Minute updates works fine ) It is no good having a 10 min check for mail setting as the email may arrive too late.
Dolly has 3 email functions :
EmailON true/false - This email function sends an email every minute that the Price is within 5 pips of a Target area, (Let me know if 5 pips is too much or not enough leadin for the Price )
Email_DATA true/false - This sends an email with all the Dolly Levels for the current day. This sends 1 email at a selected time.
DATA_EmailTime - This is where you put in the Time you want the DATA to be sent by email
NOTE; The time is Broker Time not your local Time.
I have updated Dolly Graphics_v11-GMT-Email to resolve the occasional problem of the pivot or open level not updating when the new day starts, the indicator name remains unchanged so just resave over the top of the original indicator to update the code.
07/10/2007 Code update to Dolly Graphics_v11-GMT-Email to fix issue with change numbers ( Distance from OPEN/PIVOT ), GMT value added to this feature.
NOTE : Dolly Graphics # 12 has all the email and GMT features of Dolly Graphics_v11-GMT-Email
- Cleaned up TEXT DELETE Functions code to stop interference with other indicators and refreshes issues. - Altered the Fib code so that the 100% 0.00% levels switch depending on the previous day OPEN / CLOSE. - Changed the OBJECT DELETE setup for the graphics. - Updated Comment TEXT to be on TOP so the text is not lost behind price candles. - Altered "Change" code so it does not display above H4 or below M5 for correct result plus minus numbers. - Daily Average code updated. - Added Basic Shift functions for COMMENT Text & Change Display. - Resolved email not sending DATA for all currencies, rewrote email Frequency Function & split it into separate time functions. - for email DATA/ALERTS & POP UP Window ALERTS, email DATA has 1 min frequency - POP UP ALERTS have 1 min - email ALERTS have - 5 min frequency to avoid too many email Alerts filling your inbox but updating often enough to be valid. - The DATA Email is now set for your LOCAL time not the BROKER time. - Show_Dolly_Instructions - This feature when set to "true" shows a basic method of trading Dolly, all the graphics are - removed to assist in making the comments easier to read, set the Foreground tab under properties on your chart to WHITE - to make reading easier if using a dark background or BLACK if using a light background.
Here I attach the full package of Dolly Graphics #10 System. This version user can choose either want to use "Open Graphics Mode" or not. Default setting is "Open Graphics Mode"
Just set Using_OpenGraphics to 'false' from Dolly Graphic #10 input parameters to switch between "Open Graphics Mode" to "Dolly Graphics v10 Mode".
Dolly Entry & Exit Rules
PAIR: Any
BUY
1) GMACD - main trend H4 & D1 (for Major Trend) - GREEN color (Up Trend)
2) Guppy Line - Make sure Blue Line Above Red Line.
3) Place Buy Order
3.1) Instant Order : @ Buy Stop-1 Price OR in Blue Area before Buy Stop-1 TP
3.2) Pending Order : @ Price Buy Stop-1, TP @ Buy Stop-1 TP, SL @ Buy Stop-1 SL
SELL
1) GMACD - main trend H4 & D1 (for Major Trend) - RED color (Down Trend)
2) Guppy Line - Make sure Blue Line Below Red Line.
3) Place Sell Order
3.1) Instant Order : @ Sell Stop-1 Price OR in Red Area before Sell Stop-1 TP
3.2) Pending Order : @ Price Sell Stop-1, TP @ Sell Stop-1 TP, SL @ Sell Stop-1 SL
When price TOUCH or IN SELL/BUY AREA make sure candle below/above mid bands and outside below/above and not touch envelopes. GMACD2 cross down/upwards. Make sure previous candle NOT close inside below/above envelopes. Place orders on next candle.
Dolly 0% & 100% Fibo Lines
PAIR: Any (Please set Fibo_Lines = True)
** This technic will give you 99.9% performance & low risk
To set pending order (normally i'm waiting graph start 'NEW DAY' (6AM - Malaysian time)
BUY
1) Place Buy Stop @ Fibo 100% + 2 pip + Pair Spread
2) SET TP @ 5-10 pip or 0.000 (use trailing for better result)
3) SET SL @ 100% price - 20-30 pip
SELL
1) Place Red Stop @ Fibo 0% - 2 pip - Pair Spread
2) SET TP @ 5-10 pip or 0.000 (use trailing for better result)
3) SET SL @ 0% price + 20-30 pip
* Note:
- Apply both BUY & SELL (usually i place pending order both for all major pair)
- Some Broker min TP is 10 pip
PAIR: EUR/USD, USD/CHF, GBP/USD & USD/JPY (other pair not test yet)
To set pending order (normally i'm waiting graph start new day (6AM - Malaysian time)
BUY
1) GMACD - main trend H4 & D1 (for Major Trend) - GREEN color (Up Trend)
2) Guppy Line - Make sure the Yellow,Gold,Orange,Red Below Open Price
3) Set 'BUY LIMIT' @ (SELL STOP-1 Price) - 5 pip
4) Set 'TP' @ 30-60 pip or (BUY STOP-1 Price) or (BUY STOP-1 TP)
5) Set 'S/L' @ (SELL STOP-1 TP) - Spread.
SELL
1) GMACD - main trend H4 & D1 (for Major Trend) - RED color (Down Trend)
2) Guppy Line - Make sure the Yellow,Gold,Orange,Red Above Open Price
3) Set 'SELL LIMIT' @ (BUY STOP-1 Price) + 5 pip
4) Set 'TP' @ 30-60 pip or (SELL STOP-1 Price) or (SELL STOP-1 TP)
5) Set 'S/L' @ (BUY STOP-1 TP) + Spread.
Why use BUY/SELL limit instead of BUY/SELL stop?
1) We can get 65 pip instead only 20 pip during trend correction or we will hit order during trend correction and loss it when correction end.
2) Less stop loss @ below 20 pip (after minus/plus spread) instead of 40 pip
*Note:
- Sometime trend correction will hit this SL tips for GBP/USD. Usually I don't put SL (not recommend). Please refer G#MACD H1 for trend confirmation.
- I don't recommend this tips for newbie and trend correction does't always happen. (you has been warn!)
My Trading Result on Thursday 11, 2007
Dolly Buy/Sell Stop
Buy Stop-1 EUR/USD Hit TP - 40 pip
Sell (manual) EUR/USD Hit SL - 80 pip
Buy Stop-1 GBP/USD Hit TP - 150 pip
Sell (manual) GBP/USD Hit SL - 91 pip
Sell Stop-1 USD/CHF Hit TP - 20 pip
Buy (manual) USD/CHF Hit SL - 62 pip
"This post is part of a comprehensive tutorials to train you to successfully trade currency. Alas, you’ll probably lose money. We all do at first. I’m not liable if, based upon the information you read here, you lose money, make money, turn into a woodchuck, possum, or other furry creature. You have to work hard, study a lot, and dedicate yourself mentally. Don’t ever give up."
LAST UPDATED @ JAN 12, 1:53AM GMT 8+
Last edited by hymns; 02-12-2007 at 04:31 PM.
Reason: updated!
Here I attach the full package of Dolly Graphics #10 System. This version user can choose either want to use "Open Graphics Mode" or not.
Just set Using_OpenGraphics to 'false' from Dolly Graphic #10 input parameters to switch between "Open Graphics Mode" to "Dolly Graphics v10 Mode".
ONE BIG proposal!
I wonder if that would be possible to make a little modification as to order description with SL first and TP the second.
Now it is quite opposite. It seems to be confusing to me while entering an order - in the window it is coming in reverse order. What do you think guys?
And second question:
Exist any howto - for trade dolly? I like read howto...
Modify version with reverse SL and TP, MM lines, Trading hour.
Updated ...Dolly_Trading Times #3.mq4
Updated ...MM Short_LINES v2.mq4
Modify ...Dolly_Trading Times #3.mq4 - text moved small up
Add ...b-clock modified.mq4
fixed template ... Dolly G10 (Simple with MA and Open Hours).tpl
Modify ...Clock v1_2.mq4 - auto summer time and show spread
LAST UPDATED @ DEC 20, 01:20 GMT 1+
Last edited by frantacech; 12-20-2006 at 12:22 AM.
Modify version with reverse SL and TP, MM lines, Trading hour.
PRICE moved to right top, because conflict with Dolly_Trading Times #2.ex4. Need rename object Dolly50 and Dolly51 to Dolly050 and Dolly051 in code Dolly_Graphics_v10.mq4 . I don't have source Dolly_Trading Times #2.ex4, and string Europe Open Dolly50, Dolly51 is problem.
OMG.. look what you have done?
You even created an indicator which is nicer than WSS itself
Thanks a lot frantacech, my bow for you
Subthread: Dolly 2nd Clone Project
)
) 
. I don't have source Dolly_Trading Times #2.ex4, and string Europe Open Dolly50, Dolly51 is problem.
Linear Mode
