Thank you very much, mpower.

I modified the template to match the settings from your picture.

Attached Files

parsar&macd.tpl (1.2 KB, 342 views)

Here's the method I was investigating. Thanks mpower for attaching psar to macd. This chart I posted in #20 goes with this explanation.

With the first SAR dot appearing on the opposite side (the trend has changed) – open one “trial” position Stop loss -12 (spread not included), Take profit +5. Once profit target has been hit – look for the best that current price can offer and open three equal orders. Stop loss for all orders is -12 pips (without spread), profits will be taken next way:

1st order – close in 5 pips and later constant re-entry-scalping with rules described below.
2nd order – close on 14th (or 18th) SAR dot (whichever SAR got first 14 dots – just count them) – this gives us some relief that we have scored something. Also you may not wait till certain number of dots and just close second order where you fill it is a good gain to secure.
Another option: if you are familiar with waves and know what price retracement means, look to close 2nd order after the first, at most second clearly noticeble retracement and once the price has recovered and gave a strong move forward.
3rd – this order remains open and it is our constant relief that we are always earning something as long as both SARs are in agreement that the trend is alive. We close 3rd order only with the first SAR dot (any of 2 SARs) appearing on the opposite side signaling of a reversal.
Or if you feel it is enough for you – do not hesitate and close it earlier!

We trade both currency pairs at once. In total we run 6 open orders maximum.
EUR/USD and GBP/USD have over +90 in correlation which means they move simultaneously almost always. It helps to anticipate good or bad signs watching two pairs at once.

If with the first “trial” entry we have loss, open next “trial” position only when both SARs have agreed on the trend. (You may always wait for 2 SARs to be in agreement before entering any trade, but then sometimes you will miss most of the price move).

Now let’s move to our order # 1 which is going to be reopened to scalp the market with 5 pips in profit.
Stop loss will remain -12 pips. Profit target +5 pips.

Once hit 5 pips and we are on the same candle (price bar) set limit order on the same candle half way from the current price (this is not to be calculated, just approximately, also you may check previous candle extremes and set order accordingly). In other words, “half way” means half of the candle’s current body while the candle continues moving up and down). So, set half way below (for uptrend)/above (for downtrend) the recent price – what we want here is for the price to pull back, fulfill our order and bring us another 5 pips on the same spot. If it does not retrace – we will not worry as we have our two other orders gaining profits for us.

If a new 5 min candle appears, then project (visually) possible future retracement/pullback close to 8SMA and set limit order there – in other words, make your limit order “sit” on the tip of 8EMA line). Reposition your limit order with each new candle.

Now let’s play around 8 SMA. The price really “knows” this SMA.
a) If most of the candle has closed above (uptrend)/below (downtrend) 8 SMA for the first time – buy/sell accordingly.

b) For uptrend when price touches 8 SMA for the first time from above and current candlestick closes above or on 8 SMA – buy, but only if MACD’s histogram is not sloping down and about to cross 0 line or already below 0 line. If conditions are not met – sit and wait...
...And wait for the same MACD’s histogram to go below 0 line with the new candle and create a sharp turn (usually) or a rounding turn (not often). Enter on the close of the current candle after the sharp or rounding turn is spotted.

c) Constantly watch the price approaching SAR dots as once they meet – SAR indicator will signal for the change of the trend with the new dot not matter what, therefore if spotted – prepare to exit – do not wait for the SAR as it will redraw signal only in 5 min interval – valuable time can be lost. Instead watch the price, find the best “offer” and exit early with minimum loss.

If one currency pair is showing change in trend – e.g. got signal on SAR indicator, but the other does not – exit on both anyway. Pairs move simultaneously. So the other reverse signal is on its way to appear. You may find at times that EUR/USD pair usually moves slightly ahead of GBP/USD.

d) If the price for the first time has breached 8 SMA and closed on the opposite side – start watching closely the next 3 candles: if it comes back, closes on your side and goes in your favor – OK, but if price comes back, closes on your side and soon after goes and “attacks” 8SMA again and closes on the opposite side – exit with all you orders at the first suitable moment, because it is a strong (about 80%) sign of the trend reversal.

Once again the safest mode is:
If two SARs are in disagreement – stay out. Once both are telling the same thing – get in.

Here's the jaimo-jma indicator. Kewl.

Attached Files

Jaimo-JMA.mq4 (13.0 KB, 419 views)

The colored OSMA is very close to your macd:

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gbpjpy09142007a.gif (11.6 KB, 3160 views)

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OsMA Color.mq4 (4.0 KB, 273 views)

anybody knows about this technic....i dont know what to call this ..but i think this is one of the best method for scalpers...

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sekelper.gif (17.6 KB, 2958 views)

Looks like a bunch of ma's that draw dots instead of lines.

The bottom indicator must be one of the fish familiy

Where did you get the pic and can you give a full picure with time frames and times. I am sure there will be no problem replicating it.

Looks very pretty though


Mart

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i just this one for scalping..HMA.v2,nonlagdot,riverwild,QQE and Fisher2...

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untitled.JPG (125.6 KB, 2954 views)

can u guys post the riverwild indicator and this template?

Can you post what you're using in this pic with a template? And what TF is this?