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Damiani and WAE are good, but I've only seen them reliable at TF's lower than daily.
I think your NF LSMA is great. Is the plan to trade off of lower TF waves being filtered by each higher TF lsma?
Quote:
Originally Posted by MrPip
wookey,
Thanks for the explanation.
Looks interesting. The idea for trading sounds similar to the Hoover method. The difference is determining which channel to use.
I have been meaning to write an EA for that method but have been too busy.
The idea is to use an MA cross within the channel. If the cross is in the center area of the channel no trade. If in the second level a trade is placed with first target either the center or opposite 2nd level. If outside the 2nd level a trade is placed with the same target ideas.
If this is added I will also include partial close at the targets and let the rest of the trade run to an opposite signal.
The EA at this time is very basic. I hope to be able to modify it to be profitable on lower timeframes. I have been looking at a few filter ideas like damiani_volatmeter and waddah_attar_explosion.
Is it possible to create a MTF indicator base on the 3 colour LSMA rather than the usual one? The red / blue / yellow over 4 timeframes would be very useful.
Thanks and regards,
Paul.
I thought of this as well. The problem is the limit on indicator buffers. For 3 colors we would be limited to 2 timeframes per indicator window.
I do have a version that plots one per window and have attached it to the third post.
I modified one that I have that also can use HMA, Ehlers iTrend and nonLagMA.
Damiani and WAE are good, but I've only seen them reliable at TF's lower than daily.
I think your NF LSMA is great. Is the plan to trade off of lower TF waves being filtered by each higher TF lsma?
That is my plan. I hope to find a way to trade the lower timeframes using the filters and the trend on higher timeframes. When I first worked on this EA(back in 2005) for lower timeframes I could not find a filter that helped. Since then these two filters have been posted and they have worked well for some of the EAs I have written for other threads here.
I really think you should look then at the wpr with theshholds of -28 and -72. See the attached H1 chart. The red arrow is where the daily lsma crossed up. If you waited until wpr also crossed up on lower tf, it signals a nice entry that can be ridden for the wpr's duration above -28 at least.
Quote:
Originally Posted by MrPip
That is my plan. I hope to find a way to trade the lower timeframes using the filters and the trend on higher timeframes. When I first worked on this EA(back in 2005) for lower timeframes I could not find a filter that helped. Since then these two filters have been posted and they have worked well for some of the EAs I have written for other threads here.
Robp,
I am looking at wpr, Stochastic, momentum and RSI as well as the other filters. If you have seen some of my other EAs you know I like to use switches to determine what really helps.
If you plot the LSMAs on the hourly chart you will also see where the trade would have entered on that timeframe. With the strong uptrend good profit is achieved. The problem is when the price is in a flat range for an extended period.
Another direction this EA might take is to use the direction of the LSMA instead of the cross. Plot LSMA_in_Color4 80 or 100 on the hourly chart and you will see the potential.
It really then depends on the tf you want to trade off of. My previous pic shows an hourly filtered by a daily lsma cross. If you want to go down to 30 then damiani is good. And yes, flags are always the best way to go.
Have you seen BB squeeze? It's good for shorter TFs as well to stay out of ranging markets. I've got to run, but here's a quick pic.
Are you looking to trade below M30?
Quote:
Originally Posted by MrPip
Robp,
I am looking at wpr, Stochastic, momentum and RSI as well as the other filters. If you have seen some of my other EAs you know I like to use switches to determine what really helps.
If you plot the LSMAs on the hourly chart you will also see where the trade would have entered on that timeframe. With the strong uptrend good profit is achieved. The problem is when the price is in a flat range for an extended period.
I am also looking at BB Squeeze. I even have a version of BB based on LSMA. I talked with John Bollinger at the Forex Expo and have an open invitation to talk with him at his office. I showed him the modified BB with LSMA and he stated he has been meaning to look into using LSMA for some time but has been too busy.
I like LSMA and use it in my EA as part of Woodie CCI.
I find LSMA 50 om 5Min chart is a good filter.
Let me know if I can contribute to the thread/code.
mq4rex
The code is open source and I do not mind a team approach. It saves me time in my already busy schedule when others contribute ideas in code.
I also would not mind if other programmers post that they will be willing to code ideas posted by non-coders.
If anyone makes a change you must understand that I reserve the right to change your code and post the resulting EA on the first post.
I do require that anyone modifying the EA use functions. If you have trouble with adding your function to the EA then code the function and any required variables with good comments and I will add the needed code to use whatever looks best.
That way only the best version(s) will be commonly used.
If you want to see a model of how this can be done complete with switches and prompt strings look at the attached EA. The EA will not run unless you have the needed indicators from the DIN_Kuskus thread.
Linear Mode
