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  #1 (permalink)  
Old 06-19-2006, 01:20 PM
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elihayun elihayun is offline
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at least 10-50 pips a day

Lately I find out Float indicator, I realized that it can predict a change in the trend direction really good. I am using it in GBPUSD on 5M chart.

It giving me at least 10-50 pips every day. It missed sometimes and give u early alarm, but if u wait for a confirmation bar, u can be right most of the times.

The attached image can explain the system.
As u can check the 2nd signal was too early, and we exit with S/L, but we make enough pips in the 1st trade.

Eli
Attached Images
File Type: jpg Float system.JPG (167.0 KB, 3991 views)
File Type: jpg Today Trading.JPG (293.0 KB, 3083 views)
Attached Files
File Type: mq4 Float.mq4 (8.3 KB, 1475 views)

Last edited by elihayun : 06-19-2006 at 01:33 PM.
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Old 06-19-2006, 01:59 PM
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Alexey Baranov Alexey Baranov is offline
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And this indicator:
Attached Files
File Type: mq4 Support and Resistance (Barry).mq4 (1.5 KB, 738 views)
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Old 06-19-2006, 02:15 PM
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DOMIANDR000 DOMIANDR000 is offline
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Thanks for this, can you plesae explain how to use this indicator, when to enter the S/B position based on the indicator?

Thanks
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Old 06-19-2006, 02:29 PM
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Linuxser Linuxser is offline
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Thumbs up

Hi!

I tested float in a few trades.

I have read the book of Steve Woods published here in the forum. Then I made a little search over another forums and I start to think this indicator seems to be different applications.

Most of traders use float to predict reversals, looking from top or bottoms.

Steve Woods in my (newbie) opinion has a different explanation about the use ( in the last screen is my interpetation)

Due to time problems I canīt extend my research of the correct way to use.

I attached a screen from my last trade.

I think the setup is completely empirical one and needs to be filtered with another indicator. Because itīs extremly important to predict the end of the trend/reversal with some exhaustion indicator for example.

I have another version wich I use to trade (first picture)...

Iīd like to work to find the best setup for this indicator. It has good potential.

Regards
Attached Images
File Type: jpg float.jpg (224.5 KB, 2009 views)
File Type: jpg float100bars.jpg (158.1 KB, 1466 views)
File Type: gif float200bars.gif (17.2 KB, 1286 views)
File Type: jpg floatimagination.jpg (167.9 KB, 1546 views)
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Old 06-19-2006, 02:47 PM
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elihayun elihayun is offline
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As u can see from the image I posted, I am using it with a 30M chart too. I am using Pivot levels too to make sure we are in a safe way. I am selective in my trades and not trade all the signals I have. Looking at daily chart can give me a good prediction if the market is up or down. If I see that the daily/4H or even 1H trend is down I will wait for the Float to show a sell signal.
I am using 13EMA/20SMA to find out the direction(it is working not bad at all)

I don't know which setup is better. I am using 100.
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Old 06-19-2006, 02:51 PM
bmac bmac is offline
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one question,

does the float indicator repaints the past?
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Old 06-19-2006, 02:57 PM
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elihayun elihayun is offline
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Quote:
Originally Posted by bmac
one question,

does the float indicator repaints the past?
As I said, sometimes yes. But if u will be selective and use other indicators to predict the direction, the float will be a very good entry point.
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Old 06-19-2006, 03:12 PM
dirk dirk is offline
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Guys these indicator paints the past , be carefully
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Old 06-19-2006, 03:46 PM
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Linuxser Linuxser is offline
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Quote:
Originally Posted by elihayun
As I said, sometimes yes. But if u will be selective and use other indicators to predict the direction, the float will be a very good entry point.
The best entry point.

About setup, I think itīs good play a litlle until you find some common patterns. Sometimes 300 bars, sometimes 100, sometimes, 30, start by d1 then switch to a minor scale.

Regards
Attached Images
File Type: jpg floatgbpjpy.jpg (178.2 KB, 1150 views)
File Type: jpg floatgbpjpy1.jpg (168.4 KB, 942 views)
File Type: jpg floatgbpjpy2.jpg (175.4 KB, 961 views)
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Old 06-19-2006, 04:36 PM
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elihayun elihayun is offline
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Quote:
Originally Posted by Linuxser
The best entry point.

About setup, I think itīs good play a litlle until you find some common patterns. Sometimes 300 bars, sometimes 100, sometimes, 30, start by d1 then switch to a minor scale.

Regards
Looks good. As I enter in 5M in conjuction with 30M I am using 100 as my setup. Maybe I will switch to 200 on the 30M TF.

Thanks

Eli
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