Hello everyone, Just wanted to say hello and also see if more people are interested in the Bill Williams Trading Chaos aka Profitunity stuff.

I know there are a bunch of EA's and indicators out there that suppose to follow or work as described in the Trading Chaos Second Edition but none of them quiet live up to the expectation.

And no I am not soliciting nor advertising for the book and don't ask me for it either, if you want to read it look it up on amazon or do a simple search in your favorite torrent search engine or emule etc.

Here is the idea...

Wiseman 1:
I always make pips on Wiseman#1, but I can only do it manually. I cannot find a right code or indicator or EA that can reproduce the results I get when trading Wiseman#1 manually. From the whole book, I think this is the only signal that produces consistant results.

Lets assume you imagine a rubber band around the price and the blue line of the alligator indicator (the alligator's jaw), when the price is moving at a steeper angle from the blue line then it is obvious that the imaginary rubber band will stretch more and more, giving it more power when it decides to reverse the current direction.

In simple english, if you put a rubber band around the price and the blue line of alligator indicator, the more the price moves away from the blue line the more chances of it snaping back, meaning if you stretched the rubber band, it will be trying to snap back. So if price moves upwards suddenly, there is always a pull back.

Pictures speak louder than words...

Attached Images

	Wiseman1-001.jpg (68.6 KB, 505 views)
	Wiseman1-002.jpg (54.8 KB, 393 views)
	Wiseman1-003.jpg (70.2 KB, 383 views)

** will continue posting on this post to put whole strategy up.

NOTE: this is for collaboration purposes only, please post your comments feedback, or better yet suggestions to make this better. I want to make sure everyone understands the logic behind this strategy and then maybe we can develop a scalper around it.

A few trades on EURUSD today. I like to scalp between 4-6 pips per trade.

Looking at EURUSD today Feb 28th 2007 on FXDD platform, here is the setup...

Attach Alligator indicator to M5 EURUSD chart. usually I enter 1 pip above Bullish or Bearish Divergence bar. SO today, 03:35 candle on M5 chart is a bullish divergence bar, and price pulled away from the alligator's blue line, perfect setup for pull back. I would setup Buy Stop 1 pip above that candle so

Buy Stop @ 1.3217

or manually open Buy order and close after 4-6 Pips.

another example is 10:40 bar same day same currency...

Buy @ 1.3194, take 4-6 pips profit then close

Next is at 15:40 bar, bearish divergence bar.
Sell @ 1.3216 for 4-6 pips profit

Next is 17:35, Bullish
Buy @ 1.3202 for 4-6 pips profit

Next signal is just now on new day, March 1 2007 as I write I see it, candle is 00:50
Buy @ 1.3225 for 4-6 pips


There are alot of other signals on just one day on one currency. I just wanted to get the idea out there and see if you guys know what I am talking about. As with any system this generates false signals as well, but mostly winners.

2 things I need to work on, and need help from you guys...
1: Filter out bad trades, i donot mind getting no trades at all in a day if the signal is not strong enough
2: Some how automate this.

Thanks for reading.
Killer

Since I work during the day, I will try to use this strat to scalp during the night and post the statement here.

Killer

This signal posted closed in profit.

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KillerKhan

FXDD Demo account, on EURUSD M5 Bar 01:40 I see a bearish divergence bar and price went away from blue line, good short trade there. I hope you guys are reading this.

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KillerKhan

CAn you explain your scalp system ...regarding TF,entry point,TP,SL,exit point ?
and your indicator too ? so everyone here who expert on EA can help you


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Forex Indicators Collection

Time Frame: M5
Currency: Any
Indicator: Alligator Indicator with just the Jaw Line
Take Profit: 4-6 pips, usually 4 Pips
Entry:
1 Pip above Bullish Divergence bar for Longs
1 Pip below Bearish Divergence bar for Shorts
StopLoss: Still working on this, so far have not used SL, but manually close trade if -15 Pips. Also for buys I usually use the closest fractal - 1 pip or for sells the closest fractal + 1 pip.

I will need help from you all to fine tune the strategy and tweak it to be as succesful as possible then maybe code it into an EA. thanks,

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KillerKhan

SOrry guys, I fell asleep last night after posting, I am gonna try to get some more screen shots of EURUSD today.

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KillerKhan

Price is moving away from the alligator, stretching the rubber band. Will Look for a long EURUSD if the current bar turns out to be bullish divergent bar. Notice I moved to M15, I think during news M5 is too noisy, M15 gives a better smoother look at the chart.

Attached Images

wiseman1-004.jpg (71.0 KB, 522 views)

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KillerKhan