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Hi Nic!
Thanks for your advice, the idea is good but, we should confirm the lower frame by higher frame. We can confirm m5 trade by m30 trade not m30 by m5. And the problem with adx is that it is laging indicator, so sometimes u will have an KI signal, and no confirmation from ADX u will not enter it and a few bars later ADX will confirm that signal, and there is a question : do u take it? Of course u can watch adx and watch a few bars back for signal.
Anyway, the idea is good
My motive with these rules were to cut down on many of the trades placed during the choppy conditions as possible. With the lagging indicator, it would be an extra confirmation of trend before entering the market. I am not as experienced of a trader as you though. Most of my experience is of scalping, and hanging on to trades for longer than 10 minutes is somewhat new. How would you propose that we make trades on heavy trends and limit our exposure when non-trend?
Also, why would you not want to confirm the '0-bar' (non-confirmed) signal with a confirmed signal on a lower TF?
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"Anyone who has never made a mistake has never tried anything new." -Albert Einstein
As the most simple filter the following condition also can act: on H1 there is a signal on sale (an arrow downwards). Now it is possible to trade on lower TF (M30, M15) - ONLY on sale. Many false signals at once vanish.
uups, it appears you already discuss it
It agree completely, that idea good.
From its part I wish to suggest to take for a basis signals KI with H1.
And already on low TF to make a filtration - Stochastics, ADMI or together both + still something.
My check has shown, that KI+H1 is better approaches for the instruction of a long-term trend (movements on which can be earned well).
I have not been testing the system... Your chart loks Good! So, did you close the trade after the up signal on M5?
...i just saw your other threads and will answer them here as well. The pic with M30 M5: As long as the signal was up on the M30 you would go long when indicator was up on M5 and close trades when the indicator was down. I am not sure which method is more profitable. I coded an expert to follow the rules that I am experimenting with, but it won't backtest for some reason. When it trades realtime it takes a long time to process because their are so many indicators to calculate and so many instances and expressions to recalc... and so on. It is a work in process and I will have some time this weekend to code your 'mutant' idea.
Let it me say so: if I would have something like Ninja or Brackettrader(only for futures ) my strategy had been: breakeven 10 pips-profitprotection-and starting then trailingstop. but trading by hand my fingers are to slowly....
The question H1/15 min or 30 min/5 min:I think both are profitable and forwardtesting will show.
Ahh, I`m posting a picture with 30min & H1 chart. you can see EMA 34, EMA 100, DR. Bobs CCI 50(!!). More i don`t want to say, only a picture .
And good luck with programming the `Mutant`!!!And THANKS A LOT!!!!!
Have a nice weekend
haubentaucher
Last edited by haubentaucher; 12-09-2006 at 08:21 PM.
KI signal - Sell.
We put Sell Stop at local Low + n pips.
KI signal - Buy.
We put Buy Stop at local High + n pips.
If movement will be strong Stop the signal will work.
Often happens, that there is signal KI, but the price does not go in its direction, and goes in opposite. The described approach allows to enter into the market later under the best price.
KI signal - Sell.
We put Sell Stop at local Low + n pips.
KI signal - Buy.
We put Buy Stop at local High + n pips.
If movement will be strong Stop the signal will work.
Often happens, that there is signal KI, but the price does not go in its direction, and goes in opposite. The described approach allows to enter into the market later under the best price.
you are right, but howmuch pips and what is a strong signal and what is the best price??? I think it`s heavy to find it out and so we try trading on 2 timeframes with the same signal. Eventuaelly you can find n-pips and a description what a strong signal is. And I think if you trade 60 min signals you have to look for the H4 chart and 15 min chart- all signals up or down( Triple Screen).
But don`t stop to post your ideas, could be we all find something together we can call: One for All
) my strategy had been: breakeven 10 pips-profitprotection-and starting then trailingstop. but trading by hand my fingers are to slowly....
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