Forex11,

Just trying to get a handle on how you are trading this. I assume this would be a valid signal short once we get a cross on the qqe short. Your stop would be just above the arrow +50 pips according to bear, then you would be looking to exit based on mfi, candlesticks or the qqe, or according to bear, once we get into the 200-300 pip profit range. Thanks for any input.

Attached Images

gj.gif (5.6 KB, 940 views)

thats correct.

Nice setup,
but mixing MM and SR is not obvious.
Thanks for sharing.

Can someone point me to the logic/definition of QQE?

You mean just to know what it stands for as in Qualitative Quantitative Estimation that uses RSI and Wilders periods [whatever that is]? That it works and gives you either good confirmation for entry or exit or both? Beyond that you need to talk to some mechanics. Otherwise, it runs beautiful and smooth. Like they said, it can take you from point A to point B. That's Zimple!

ENJOY!

fxcruiser

__________________
HAMA PAD v1 Original (here since 8/25/06)
HAMA Z3 - CYCLE Trading with PALS**TRADE SMART... Less Indicators; TRADE EFFICIENTLY for MAXIMUM PROFITS in LESS TIME**

EJ is on the ball as usual I was just about to post something like that


This is how the Quantative Qualitative Estimation indicator is created.

1 Create an exponential moving average of RSI; the periods (length) is user-defned, default value is 2.

2 Create the 14-period ATR indicator based on the EMA of RSI.

3 Create the 2 trailing stop lines
a) fast trailing stop is the ATR smoothed with a 14-periods wilders() smoothing function that is multiplied by a factor of 2.618
b) slow trailing stop is the ATR smoothing with a 14-periods wilders() smoothing function that is multiplied by a factor of 4.236

I went back over this month's (September) chart of the GBPJPY_H1 and manually made a record of trades long and short with a simple cross of the QQE (always in the market), ignoring the ZigZag. It returned 1,212 pips with 11 winners and 8 losers, and that's with a 9-point spread. No other indicators were involved.

A second test with the ZigZag attached returned 1,439 pips with no losers, but only six trades. I used the Z-Z1 on the chart so that I could see the false ZigZag Pointer arrows. I'm assuming I got an accurate picture of that; if someone knows better, please tell me.

The strategy in the second test was to accept no ZigZag Pointer unless the QQE had crossed, so I got into a trade after the arrow and then a cross. If I got another arrow while the QQE was positive, I entered again in that direction.

I didn't use any stops. The maximum loss was 145 pips.

Would someone produce a simple EA of this so that it could be tested further? I realize there are versions of EAs out there for the strategies being discussed, but this is much simpler. I'm incapabable of doing the programming.

Attached Files

ZigZagWithQQE_Test.zip (2.8 KB, 210 views)

CONGRATULATIONS harooki2! You just made yourself a couple of systems and/or an enhancement to the Bouncing Pip [not that it still needs one] Which one would you use now? But wait, now that you have established a ONE month historical success, try it now on real time data. Feel the difference. Your results will vary but I am sure positive nonetheless. Oh, you may consider another broker with lower spread on GBPJPY.

ENJOY!

fxcruiser

__________________
HAMA PAD v1 Original (here since 8/25/06)
HAMA Z3 - CYCLE Trading with PALS**TRADE SMART... Less Indicators; TRADE EFFICIENTLY for MAXIMUM PROFITS in LESS TIME**

No stops? Did you manually close out that 145 pip loss?

Nice but you can't test the arrows. In fact, just playing around with this system lately I found you would have lost the last several geppy trades (and your underwear/bar-mitzvah money/graduation money etc.) even if you would've thought about these moving arrows let alone used them.