one to one coaching

Free profitable system : excellent

Hello friends,
I have found a free system which I consider excellent.

The description and rules can be found in a popular forum (FF). Since it is not allowed to post a link, please use google and type "Price Action Trading with Indicators" and it should be the first link.

From what I see on my charts and see in visual backtests, this strategy is the real deal.

The author did not post the indicators, only the templates, therefore I searched for the indicators and found them by myself.

The package is attached.

I am looking forward trading this strategy live (on Demo) next week.

P.S.: I added the TCCI with alert-function.
It is not part of the original system but it might be usefull for giving alerts when the Heikin Ashi turns color. ( Maybe someone finds a Heikin Ashi with alerts. Please post it for us. Thanks )

With alert function, we don?t need to be glued to the PC all the time. :)
Edit: I found one which fits perfectly.
It opens in a separate window and the signals are identical to the Heikin Ashi standard indicator on the main chart.
You must be registered for see images

You must be registered for see images
 

Attachments

grood

Member
Judging from the childish behaviour of the original poster at FF I doubt this is a good system (only read the first post there) :)
 
Judging from the childish behaviour of the original poster at FF I doubt this is a good system (only read the first post there) :)
Judging a system without knowing it based on the temper and behaviour of the sharer is not reasonable in my view.

Testing the system yourself on strategy tester - like I did - and then judging it, gives a better perspective.

The system is excellent.
The author is whatever he is.
I don?t know him but I am glad he shared his system.
 
Threat has been closed on FF, can you explain it here?
Here is the author?s description:
Ok forgot some newbies dont know how to trade(jk) lol i added a new templete for you guys its should be very clear when to take orders and when not to.

1) ZigZag(zz indicator) is the heads up
2) Fails at a Fib pivot
>-- ----------------------If you like price action then you dont need the last 2 but for newbies i would use them
3) Candle Green(buy) Red(sell)
4) Stoch crossed Up(buy) Down(sell)

Always wait for the Candle to close ....If trading on H4 change fib pivots "Myperiod" to 10080 and so on, im sure you guys can figure this part out.

Those are the 4 steps....SL at last low TP 1:1-1:4 risk/reward or use S&R lines (other fib pivots)

Yes the indicator repaints, there is nothing wrong with a repainting indicator. The problem is with the people that think just one indicator is going to give them clear buy/sell areas and never be wrong. Repainting indcators are LEADING indicators.

Every good trading system MUST have a some sort of LEADING indicator for a heads up and a lagging indicator(Stoch,Rsi,Price Action) to confirm what the leading indicator is saying....Only using lagging indiactor its very hard to get a good risk/reward ratio. If you only use leading indicators you will be wrong more then right....and YES i said it PRICE ACTION IS A LAGGING indicator....think about it....you have to wait for 1-5 bars sometimes before you can tell if the signals is valid right? so that would be lagging just like a stoch or rsi lol

If it take me awhile to answer any questions its because im busy making all these pips! lol
 
The rules again:
RULES TO ENTER A TRADE

1) ZigZag(zz indicator) above candle(sell) below(buy)
2) Fails at a Fib pivot --means hits fib pivot but closes above or below
>------------------------If you like price action then you dont need the last 2 just confirm with those setups but for newbies i would use them
3) Candle Green(buy) Red(sell)
4) Stoch crossed Up(buy) Down(sell)

Always wait for the Candle to close ....If trading on H4 change fib pivots "Myperiod" to 10080 and so on, im sure you guys can figure this part out.

Those are the 4 steps....SL at last low/high TP 1:1-1:4+ risk/reward or use S&R lines (other fib pivots)
 

trader78

Member
hi, can you explain the ZZ indy or does someone have a doc for it? wanna know what the different dots mean seems to have dots with 3,2,1 numberes
 
3_level_zz_semafor it's a repaint indicator so you can't trust it!
It is not used for buy or sell signals.
Therefore you can trust it 100%.

If you read the rules and the thread on FF, the purpose of the semafor and zigzag ( both are repainting ) are explained there.

Repainting indicators can be much better than non-repainting indicators if used properly.
 
hi, can you explain the ZZ indy or does someone have a doc for it? wanna know what the different dots mean seems to have dots with 3,2,1 numberes
Please google because in this forum it is not allowed to post links.
Use "Semafore indicator mt4" for google and you will find the author of the indicator on TSD.

1. 3_Level_ZZ_Semafor - The indicator which deduces extreme points of maxima and minima of the senior, average and small period on the price chart. It?s created on the basis of improved ZigZag algorithm
But please: the freebie system is not about the semafore indicator nor about the zigzag indicator.

It is about failed Fibonacci Pivots and reversal patterns.


You can delete the zigzag and the semafore and only trade the failed Fib Pivots and valid reversal patterns.
That is the system.

Heikin Ashi , the zigzag and the semafore only help newbies to find valid entries.

I deleted the semafore indicator anyhow because it slows down my mt4.
I don?t like such indicators.
The Heikin Ashi changing color is enough confirmation for me together with the most important Fib Pivot level reversal.
 
I never count Pips, only percent of equity.

Today I made 3.8 % with the system.

Still training myself to identify the valid entries and playing with TPs. I closed too many trades before they hit TP due to fear and missed good profits but for the first day I am happy.

As I mentioned before, I deleted the Semafore-indicator because it is eating CPU like crazy.

It is amazing how price behaves at some Fib Pivot lines.
 

Joy22

Member
It is not used for buy or sell signals.
Therefore you can trust it 100%.

If you read the rules and the thread on FF, the purpose of the semafor and zigzag ( both are repainting ) are explained there.

Repainting indicators can be much better than non-repainting indicators if used properly.
"Repainting indicators can be much better than non-repainting indicators if used properly"

how?

joy22
 

radicaltour

Moderator
VIP Member
does anyone think we can ask stovedude to put together a quick EA based on the system? Then we'll be able to see how it performs over the long run...:D
 
The rules for this system look mechanical but I think it only fits for manual trading.

On the historical chart it is easy to say:
"Look, there the HA turned red and the reversal happened 3 Pips before the Fib S1 line, that would have been a good trade."
But how do you define all the rules for an EA ?

Maybe it can be done, I don?t know.
 
"Repainting indicators can be much better than non-repainting indicators if used properly"

how?

joy22
Please read the thread on FF, there it is explained.

Today I already made 6 % profit and it is so early in the London Session.

My initial risk per trade is 1 % .

I closed a few trades in small profit as usual because I thought that the market would reverse. That is a weakness, yes, but as long as some of my trades hit TP it is ok.

I am trading this system a bit differently than the author because I place a hedge order with double lot-size at SL of the active order.
If the first order hits SL, the hedge is active and I place another hedge at SL of the now active order.
This is nothing else than trading a range with martingale progression.
Not everybodies taste, I know.

For extreme situations, when the range is too bad, I place the next hedge under/above the last swing high to avoid more whipsaw.
Usually the cycle ends at TP after 1 loss, sometimes after 2 losses.

For the worst case scenario I just stop placing a new hedge order and let the active position run its course.
For this worst case there are 3 possible outcomes:
a) hitting SL
b) closing manually at Breakeven
c) hitting TP

Is this dangerous ?
No, if the range is chosen carefully.

I remember Craig Harris doing the same thing. He sometimes (or always ?)
places a hedge-order with double lot-size at the fractal which he based his entry on. This way he tries to recover the loss of the initial position.

For those who are able to find the best entries , this hedge-strategy is not necessary. They will accept some losses and will make much more profits with good entries.

Stovedude, I am ready to discuss the rules for an EA.
Whenever you are ready, please send me an e-mail.
 
Since it is a Demo account, I thought I would exercise some more.

Here is a risky trade on EURUSD.

Price came 5 Pips near S 1 and reversed up.

Short term trend is down, according to the system the long would not have been taken, but I have the hedge-order sitting 1 Pip (plus spread) under the last Low.

Let us see what develops.

Live trading is different than analyzing a historical chart. We all know that, right ?
Hindsight is always 100 %.


You must be registered for see images
 
Next range while the first trade still is floating.

Price went up through M2 , then failed to break under M2 , therefore it might go up.

The Support and Resistance indicator plotted its
red and blue diamonds.

I chose to place the pending orders at these S&R levels ( plus 1 Pip plus spread ).

Anything can happen now. Let us see what develops.


You must be registered for see images
 
Ok. EURUSD went up.
Trade 1 closed at TP.
Trade 2 closed manually before it TP, but in profit.

Total profit today 7.9 %

Edit: Just saw the News on Canadian Dollar, opened the chart and saw that the USDCAD was trending up. I opened a long and placed the hedge below the last support-level ( M ).
30 seconds later the news was out, the USDCAD shot through R1 and closed my trade at TP.

Total profit for today 9.4 % .

Edit: I had a few other profitable trades, was wrong on GBPUSD and
SL of initial order was hit, but now I have closed the active hedge position with a minimal profit. Today I stop trading.
Final result: 10.09 % .

Is this luck ?
Or does the system work ?

I bet that Swaby is lurking and hey, Swaby, with this system you won?t need to cheat your customers. Give them the refund for your crap EA which is not profitable and go earn honest money trading this free system.

You must be registered for see images
 
The BFX is a private EA which I am not allowed to share. I got it from a group of traders who specialized on trading ranges with it.
Sorry.

The code is a mess because I modified so much.
Every coder would vomit if he would see the code. :)

But I paid a professional coder to make a tool for trading ranges which the user chooses manually plus another feature which automatically trades session-boxes in the same style.

Over the professional EA I have full control, but please understand that it is not for free because not only $ went into it but hundreds of hours of my time.
 

4 X Gump

New member
This Indikator is good but use it with bollinger bands !!!

This Indikator is good but use it with bollinger bands !!!

Hello, i?m 4 X Gump !

i want .... to say, this indikator is good, i tried it out long time ago and experimented, how do i know the perfect time the indicator doesn?t repaint any more. I use this indicator with the bollinger bands. entry is after the first candle, witch doesn?t touch the bollinger band.

have a look at it ! tell me how do you see this situation?
:D
 
Since you are talking about using Bollinger Bands,
here is a "trick" how to know when a walk on the bands is over.

I have marked 3 entries on the chart.
Price was trending -----> walking on one of the bands.

How can you know when it will not walk further but reverse ?

You see it by watching the opposite band.
As long as price walks on the other band, the opposite band expands too.
When the move is over, the opposite band clearly contracts.

I think that this "trick" will help many of us.

Therefore I attached a manual which explains this trick in detail.

You must be registered for see images
 
one to one coaching
Top