I will be testing MPowers idea this week using the g-u, g-y, u-y, and the c-y on the 4hr TF. So far, no trade setups.

IF you look at the gbp/jpy daily, there is a FTC signal. If you can catch them on a daily chart and let them run you usually can get a tremendous amount of pips. WE SHALL SEE !!

Hey Nix,

If these options are added into any EA I think it would do a lot better.

Stop Loss-

Take Profit-

Break Even After X Amount of PIPS + X amount of PIPS (i.e. Break even + 20 etc..)

Not a trail stop but a function where the stop moves every X amount of PIPs rather than pip by pip. Example Stop @ 1.2350. Next stop @ 1.2400 Next Stop @ 1.2450 ETC....

A money management rule with % of account to trade, Micros option & % decrease factor

an option for audible alerts.

Leaving a ghost when it repaints.

Thanks to all who help.

Bear-

Hey mwbro,

I use the signal bar to gauge the strength of the bounce. The more matching colors on on the direction of my trade, the better.

When trading on a 4 HR for example & I get a long signal, the more green the better. If the lower time frames are opposite then you may want to be careful.

Its just a way to gauge the market.

Bear-

Hello Bigbear,
fantastic method! Thank you so much for sharing. Do you have an alert for this method? I have read the thread and I didn't see it. Did I miss it?
Thanks for your reply.
Regards,
Pluto2

You can find the alert at post# 293. I guess this post is on the page number 30.

Sincerely,
rswamy4449
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BigBear,Forex11, I wanted to ask you how do you ride the trend after a good entry was done? Are you going with the stoploss with a fixed value(ex: 30 points)?
Are you putting the stoploss over/under the retraces high/low? After tp is hit do you still ride or exit right after that?


Thanks.

rswamy,
that was very kind of you - thanks.
Trade well
Pluto2

A couple of tricks that you can use for timelier entrys. If you trade off of 4H, when you get an FTP signal, drop down to H1 or even M30, when you have closed Heiken Ashi bear/bull candle and the Chandelier Stop is broken on H1/M30, then you enter. You can exit using smaller timeframes FTP signals as well, you can always re-enter again. It works, I have tested it, got a hadeache from watching the backtester for a godzillion hours
I am posting the Chandelier stops indicator for those that don't have it(thanks SIMBA for the indicator and the idea!!!!)

BigBear, I apologize for diverting from your original idea as it is excellent. I am just trying to find optimal exit/entry points since I am not able to watch trades 24/7....a good ea will solve this...I will see if I can help with that....Thanks Nix for your efforts!!!!

Attached Files

ChandelierStops_v1.mq4 (2.9 KB, 293 views)

True mpower i also started doing that dropping down to a smaller timeframe for entry make sure the time frames are in agreement ....