ASCTrend system - page 26
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And I looked on H4/D1 informational template to understand the general market condition:
- EURUSD: downtrend for EURUSD (H4) but we should wait for breakout case.
- GBPUSD: flat. Waiting for breakout case as well (may be some news?).
- USDCHF: uptrend. Waiting for breakout case.
- USDJPY: uptrend but we are waiting for breakout case.
asctrend arrows.
When we see red asctrend arrow it means sell signal.
It does not mean: sell now.
Just a sell direction. short. movement.
It means for us that price started to move short.
The same with oscillators.
And from one asctrend signal to the other asctrend signal will be sell.
VQ indicator.
It is not main indicator in the system.
This indicator is giving many false signals. That is why I am using PriceTender as well. If we have sell together with VQ color changing it means that the signal is very clear for this system.
PriceTender indicator.
It is multi timeframe indicator. It means that this indicator is painting the past 1 hour (H1 timeframe on M5 chart). So it is difficult to see on the history to know where in really the lines of PriceTender indicator was crossed. It is possible to see in real or demo trading only. It is the same with vehicle: if you are driving the car so you are doing it on the open bar, right? And when you are showing your photo to me where you are driving so it is the historical data.
The same with exit on M5 informational template: PriceTrend indicator is multi timeframe also. And because of that it is difficult to see on the history and say that "probable I should exit there instead of here". Because we can see it in real time only (within 1 hour). 1 hour back is historical data for M5 timeframe but it is open bar for PriceTender and PriceTrend indicators.
PriceTender indicator and PriceTrend indicator are one of the main indicators in this system.
Pivot line.
It is one of the main line in this system. Basicly everything which is below this line - downtrend. Above - uptrend.
So if we get asctrend sell signal and if we agree that this signal is valid untill we get the other asctrend signal so we may wait for the confirmation: pivot line and PriceTender indicator.
RoundPriceNE_big_mod indicator.
One of the main indicator in this system.
Usually we are doing sell on the price/red line crossing (on the close bar). And opposite for buy. But it should be confirmed by all main indicators in the system.
MACD.
It is informational indicator for us. We may see how the trend is changing, where the trend is stopping and continuing and so on.
NRTR_color_line.
It is not main indicator in the system. If we got sell and red line of this indicator in the same time it means that this trading system understands this signal very well.
Sell/buy signals are not asctrend signals. In some cases yes, sell/buy signals are on the same bar with asctrend. But it is not often case. Simple I do not want to program this asctrend indicator into oscillator to have the other separate window on the chart: it is enough separate window already.
Just look at this recent case: it is going on right now wioth USDJPY. Buy signal. Will I open the order now even if the price crossed blue line of RoundPriceNE_big_mod indicator? No. I will wait until the price will cross pivot line. As long time as I can sitting near computer. And then I will open buy? No. I will look at the other pairs to understand that the other pairs are doing simething as well (moving to somewhere with clear direction).
Just for exomple: price is the vehicle and the system is a police station with many policemen (indicators). And the market is road. So we have several cars driving on one road and we have one police station (our system) on this road. M5 informational template is as analytical dept in our police station. And H4/D1 information template is as analytical dept in the capital of the country (head department). Sometimes the cars are driving on the road and police station does not understand anything: too different reports from policemen! And head of police station (you are) may say: "common, they may do anything and I don't care anymore, i go to sleep".
You may create your own example.
When i am typing this post the USDJPY price crossed pivot line on the close bar. Before open any order we should estimate future possible loss.
It means we are looking on M5 informational template:
- price crossed the 2nd profit level already (came down a little but it was 2nd profit level on high).
- Good exit is exit on 3rd profit level. From 2 to 3rd levels is 13 pips (21 - 34).
May be it is enough for us. may be not. For me not (because we have spread sorry).
- Risky exit it when blue line is crossing the red line of PriceTrend indicator. We may estimate in pips: it may be -10 or -15 in loss (if price will change the direction).
- Stochastics. Fast stochastic (34, 5, 5) came to over bought condition and started to move down (together with the price). If this movement of fast stochastic is strong enough so medium stochastic will join fast stochastic. And if this movement down is very strong so the slow stochastic may change the direction.
So probable i will wait untill fast stochastic will turn down to go up, or will continue going up on breakout. Because we have directive from our headquarters (H4/D1 information template): downtrend on USDJPY is finishing and good uptrend did not start yet.Our police was equipped by some new device: Speedometer (by Igorad).
Look at the attachment. Not now. When market will be opened. It is the speed in pips.
Of course this indicator should be improved. We plan to code momentum indicator inside this Speedometer.
Our police was equipped by some new device: Speedometer (by Igorad).
Look at the attachment. Not now. When market will be opened. It is the speed in pips.
Of course this indicator should be improved. We plan to code momentum indicator inside this Speedometer.hrmm for some reasly the speedometere doesn't compile for me.. =\
Thank you ND , Thank you Igorad, You are the MAN
I think this Speedometer indicator should be improved a little.
This indicator is working ok now but the main idea was to catch big movement/speed of the price dirung the news so I think this indicator may be improved and we may incluse momentum indicator inside (probable in the same way as in qq EA for example).
Sorry very busy now cleaning elite section from some posts and so on.
It was good signals on EURUSD and USDCHF.
And good exit. See the images.
I like this system because when I open the order - so I am not alone: many indicators and 2 templates are trying to tell me when I should exit from my order. It is very comfortable.
Trading template and indicators were updated. Go to this link https://www.mql5.com/en/forum/174756/page16
Please note that I am using one rading template (M5 timeframe) and 2 infirmational templates (M5 and H4/D1 timeframes). Everything on this link as well.
Why updated?
I added StepChoppyBars_v1.1 indicator to trading template. It is optional because this system is ok already without this indicator.
This StepChoppyBars_v1.1 is using StepMA_v7 indicator and StepRSI_v5.2 indicator (attached).
Names (meaning) of the color in ChoppyBars indicator are the following:
MediumBlue: Strong UpTrend.
Crimson: Strong DownTrend
DodgerBlue: Retrace UpTrend
Tomato: Retrace DownTrend
LightBlue: Choppy UpTrend
Orange: Choppy DownTrend
Aqua: Be ready to change UpTrend
Yellow: Be ready to change DownTrend
About StepChoppyBars_v1.1 indicator you may read the following posts:
- some description about this indicator;
- how to read the color of the indicator is here.
And please find some images of updated trading template and info templates.
Newdigital, thank you for all your work. I have newbie question and I hope I will not make you mad, since after all your hard work and explanations someone like me, inexperienced, still have problems and questions.
I have read all msgs on public ACSTrend thread and also here on Exclusive Forum.
I'm putting myself in possition, what I would do here (your pictures) and I simple don't know, should I be already out, should I sell or keep position?!?
If I look at Daily Ichimoku - information I get is bullish, correct? Trend is up, above the cloud, everything is pointing up...
If I look at H4 Ichimoku - information I get is the same, bullish, correct?
If I look at M5 information template, I have mixed signals. Stochastic are sugesting turning point, but PT is still bullish. Which one is main here? If I look at chart, I would proably already sell at second fib line, where is also last band. I remember you were selling few times at third or fourth band. If there is also Fib resistance level, there is even more reason for sell, correct?
What about you, what would you do? Wait till Fib 3? Why, because of bullish PT and bullish Ichimoku?!? If so, you should probably still hold position since last two conditions are still true. Correct?
You see, inexerienced newbie can always have toons of questions. So it makes you hard to try and trade because you are not sure what to do.
OK, last picture, working trading picture. what to do:
(so far I have Informational daily ichimoku BUY, informational H4 ichimoku BUY, and Informational M5 - mixed signals)
Trading picture: First thing come into my mind is Sell, since price turned down at Fib res 3 level. Also VQ and MACD are on sell signal. But then agan, Price trender is still on buy. Also NRTR color line signal is still blue, Ichimoku says buy... So should I hold here?
The reason I wrote here all my thoughts and questions is, so you can see, what kind a doubts and questions can have one inexperienced player.
Would you please, write one more time, what would you do in this example. Just to clarify few things, please.
- Would you sell at first ASCTrend sell signal (1 Dec, time 7:10) or you wouldn since VQ and NRTR and PT were still on buy?
- Would you sell at second ASCTrend sell signal, since you would have confirmation with VQ and MACD and NRTR? Or you wouldn't because of Price Trender and daily/4H ichimoku charts?!?
- Would you sell in case if price would start dropping below TradeTime_v2?!?
One more question, I don't remember explanation about TradeTime index (window). Should I trade only inside this window? Even if I get all signals lined op for Buy outside this window?
Sorry for so many confuzing questions. I would like to use this signal, actually I'm deseratelly looking for one, to start working with it, but when I try I'm stuck with questions like this, and don't know, what to do...
Thank you, Mario
Newdigital, thank you for all your work. I have newbie question and I hope I will not make you mad, since after all your hard work and explanations someone like me, inexperienced, still have problems and questions.
I have read all msgs on public ACSTrend thread and also here on Exclusive Forum.
I'm putting myself in possition, what I would do here (your pictures) and I simple don't know, should I be already out, should I sell or keep position?!?This system is having several rules: one trading rule for flat, the other one for trending market and b reakout, next rules are for correctional trend. I traded all this rules live and posted the rules on this thread.
If I look at Daily Ichimoku - information I get is bullish, correct? Trend is up, above the cloud, everything is pointing up...
If you are talking about the images I posted on the post #262 so you looked at the past data only. It is uptrend on D1. But this uptrend was 1 day ago, 2 days ago and so on. Because we are operating on close bar. You got information about what was in past. But it is necessary to predict the price movement as well.
For example, in case of images from the post #262 we have the following:
It is uptrend because:
- price is above the cloud;
- red line is above blue one for uptrend;
- white line is above the price on uprend;
- all other oscillators are in uptrend.
But it is D1 timeframe. It means that it was 1 day ago. Close bar.
So how can we forecast the price movement?
We may see on the following:
- cloud will change the color to downtrend in the near future (beginning of the next week). We can not say how strong this future downtrend will be. May be it will be flat - no idea. But color of the cloud will be changed soon. It is fully visible from the D1 image from post #262 (market is closed now so I can not see when cloud will be changed the color but it will be in the beginning of the next week);
- Stochastic is above 80 (overbough condition) which indicating probable reversal to downtrend;
- the same with Laguarre;
- look on brown line of AbsoluteStrengh indicator (dotted brown line and normal brown line). If normal brown line is above dotted brown line it indicates that reversal to downtrend may be started. Reversal may be started.
- SMO indicator is above 50 (uptrend). So it may be reversal to downtrend but not very strong one. It may just correctional price movement.
- price broke 1.9697 resistance line (you may see it from the image). Next breakout is 1.9844 (dotted blue line on the main wondow). This dotted blue line is strong resistance line and sometimes I am using this level to place buy stop order.
So, just a conclusion for D1 (according to the image on the post #262):
Daily uptrend with possible correctional downtrend in the near future. If price breaks 1.9844 resistance level (on the close bar) so it may be next uptrended breakout. If not - correctional downtrend.
ASCTrend system rules to be used in our image case:
- use breakout (trending) rules if price will break 1.9844 resistance level (trading on trading M5 template having exit on M5 informational template).
or
- use correctional rules (trade on M5 informational template only).
If I look at H4 Ichimoku - information I get is the same, bullish, correct?
Not the same. You saw information which was 4 hours ago. But we use this template to foresee the price movement as well (the same with D1).
- Price broke 1.9748 resistance line and next is 1.9844 (it was typed on the chart).
- But Stochastic and Laguerre indicators are in overbought condition. It means that those two indicators want for the price to come down.
- cloud changed the color from uptrend to downtrend many hours ago already.
- CMO indicator is just a little above zero and even small movement down can move this indicator to possible downtrend.
Conclusion. Waiting for the price to break 1.9844. Or trade correctional downtrend.
If no any good news coming so most probable we will have correctional downtrend.
It means that we are able to get just few pips in profit using correctional rules.
If I look at M5 information template, I have mixed signals. Stochastic are sugesting turning point, but PT is still bullish. Which one is main here? If I look at chart, I would proably already sell at second fib line, where is also last band. I remember you were selling few times at third or fourth band. If there is also Fib resistance level, there is even more reason for sell, correct?
M5 informational template is telling us the following:
- it was exit1 from buy order: price crossed 4th profit target many time ago already (all exits from all the orders are doing using M5 infor template only);
- no any exit2. This is an other choise for exit for the people who want to catch more pips. Price line of PT inficator (blue line) did not cross red line yet.
- correctional trend will be started when blue (price) line of PT indicator will be crossed red line for downtrend. Correctional trend did niot start yet. No any orders should be opened now.
- And corectional trend will be finished when this blue line will be touching yelow line (profit target), or it may be stop loss (blue line will cross red one in opposite direction), or market will change the direction on 1.9844 breakout.
Correctional trend is very risky one.
We are using completely different rules whe we are trading correctional trend. Trending temlate for correctional rules is M5 info template.
What about you, what would you do? Wait till Fib 3? Why, because of bullish PT and bullish Ichimoku?!? If so, you should probably still hold position since last two conditions are still true. Correct?
I am not trading any Fibo levels as Fib R3 or Fibo S3. I look at the price to see: the price is above pivot line or below. If you ask me: when is the price now? I may asnwer: near Fibo R3 level, very far for Pivot line: above pivot is uptrend, below is downtrend. So, I am using this Fibo R3 or R2 and so on just for infirmation where the price is. I am not trading any levels. I am trading dynamic Fibo levels on info template but they are not Fibo R3 and so on.
OK, last picture, working trading picture. what to do: Trading picture: First thing come into my mind is Sell, since price turned down at Fib res 3 level. Also VQ and MACD are on sell signal. But then agan, Price trender is still on buy. Also NRTR color line signal is still blue, Ichimoku says buy... So should I hold here?
I am not trading any Fib R3. I am not taking in my mind any levels. Beside this VQ indicator is optional because this indicaor is giving a lot of false signals. NRTR is optional as well: because this NRTR is not working when we have breakout case.
- Would you sell at first ASCTrend sell signal (1 Dec, time 7:10) or you wouldn since VQ and NRTR and PT were still on buy?
- Would you sell at second ASCTrend sell signal, since you would have confirmation with VQ and MACD and NRTR? Or you wouldn't because of Price Trender and daily/4H ichimoku charts?!?
I did not sell 1 December sell signal. I waited for the following:
- blue line of PriceTrender indicator did not cross yellow line on M5 close bar;
- price did not cross pivot line for downtrend. Price was too far from pivot line. It was necessary to have good breakout for the price to cross pivot line for downtrend but we did not have any. Because all Stochastics on M5 info template were showing oversold condition and it was necessary for the price (to down) to get strong downtrend breakout signal. And we would not miss such kind of signal because price should cross pivot line first but it was too far from pivot.
- just to understand about sell signal in 1 of December we need to see M5 informational template and we understand that it was correctional sell from good buy. It means that it was buy few days ago, it was exit from buy and we got sell but correctional one only (blue line of PT indicator was between red and yellow line which is indicating non-trading zone/time, or corectional trend which are the same one for me).
Of course i am trading corectional trend. But not very often because it is very risky. It is counter trend.
- Would you sell in case if price would start dropping below TradeTime_v2?!?
TradeTime_v2 indicator is showing the time to trade. I am not looking on max/min of this indicaor because tis max/min is always moving. If you want you may estimate the daily range in the end of the day using this indicator. But it is not for trading. Just for discussion in the end of the day or jus for information.
I am not using any daily range.
One more question, I don't remember explanation about TradeTime index (window). Should I trade only inside this window? Even if I get all signals lined op for Buy outside this window?
You may trade outside.
My local time is GMT +2. And i am sleeping at night. My night is GMT +2 as well
So I am trading within TradeTime_v2 indicator. If you time is totally different from any GMT so you may trade as well. Just change the settings in TradeTime_v2 indicator according to your time. You may trade USDJPY and sometimes EURUSD. May be some other pairs.
Newdigital, thank you very much for your detailed explanation. Now I see I didn't pay enough attention for few details. I was very sleepy when reading last 12 pages (but I wanted to finish) so looks like I've missed a lot. Now I'm going back to read again those last 12 pages. With your information wrote here, it will be great help, to study those past charts and msgs. Thank you again!
You may trade outside.
My local time is GMT +2. And i am sleeping at night. My night is GMT +2 as well
So I am trading within TradeTime_v2 indicator. If you time is totally different from any GMT so you may trade as well. Just change the settings in TradeTime_v2 indicator according to your time.
Oh, I see
Basically, you have highlighted your local trading time with TradeTime_v2 as indicators name suggesting, duh! Man, sometimes I can really ask stupid question.
Thank you again for your help! I may have one or two more questions but only after I will reread this thread!
Mario