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SilentFathers Trading Ideas

Quoting Old_Dog
{quote} Hello mate, No problem at all. Just add a Moving Average of Period = 1 to your chart but no colour (see first pic). Then add whatever levels you want (see second pic). You can tweak the levels until you get the best signals. That's it Kind regards, OD . {image} {image}
Thank You very much Olddog!

All the best
  • Post #122
  • Quote
  • Edited Aug 7, 2018 3:24am Aug 6, 2018 6:30am | Edited Aug 7, 2018 3:24am
Many thanks for this very interesting and thought provoking approach SF.
I spent a lot of time at the w/e playing around with this and came across some interesting patterns in addition to the trendlines that SF has already pointed out.

I did download cTrader and can well believe it is much better and more flexible than MT4 but, given my broker doesn't use it and the fact that I have spent several years learning to code MQL sufficiently for my own needs, I only used SF's indicator on cTrader to try to approximate the same in MT4. As Old Dog has said, you only need a displaced MA with a lookback of 1 and someone else also mentioned the use of the built in Envelopes indicator. The frustrating thing is that you have to manually adjust the offsets if you change tf so I put something together that works out the offset as a multiplier of the ATR. You can change the multiplier to suit your purposes but you don't need to change anything from one tf to another. I've attached it in case there are others who are also tied into MT4.

There is one pattern I came across time after time, on all tf's, that I think is worth sharing. The key thing to look for is the upper and lower channels overlapping with very few price bars in between. The upper channel must make a lower V point that overlaps with an earlier inverted V on the lower channel (or vice versa). By the time the V on the upper channel has completed, the price will be way below but there is an extremely high probability that it will bounce back to the bottom of the V. I've attached an example and it is well worth scrolling back through to see how many you can spot. The beauty of it is that you can put on a really tight stoploss for a potentially big gain that you can measure beforehand.

Edit - amended indicator attached to allow for two digit pairs
Edit 2 - 3rd version of indicator added to try to get around problems some people are experiencing (apologies, I'm only an amateur programmer ).
Edit3 - finally I think we have a fully working indicator - many thanks to Shiva, Blackstack and Handy for helping with this
Attached Image (click to enlarge)
Click to Enlarge Name: Overlap.png Size: 88 KB
Attached File(s)
File Type: mq4 BlueInd v1.2b.mq4   1 KB | 820 downloads
Just... wow... spot on reaction in DE30 just the last hour
Attached Image (click to enlarge)
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You can also use the channels for determining the 'offical' trend for a tf. It is too delayed to react to at the time of the change but it seems to be excellent for keeping you on the right side for extended periods.

There is something very interesting going on in the EU weekly chart. If this week's upper channel closes below the most recent HH on the lower channel that would put us into an 'official' down trend.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly trend.png Size: 78 KB
I spotted this one far too late but since it was an example of the overlapping channels I described a few posts back, I took the trade anyway as it still had a short distance to run.

They occur all the time.
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Got out slightly early. But I think these are not coincidences.
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Click to Enlarge Name: eg1.png Size: 43 KB
Still holding this basket

Max floating loss were -$890

And now it seams to be going to where i wish it goes to i will give it few hours and see how it ends
Attached Image (click to enlarge)
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Very strange - tried the new 2 digit indi and it didn't work on two different mt4 platforms on two different brokers. The original didn't work on any forex pair on both brokers either. I'll take a further look after market close.
Quoting hepsibah
Many thanks for this very interesting and thought provoking approach SF. I spent a lot of time at the w/e playing around with this and came across some interesting patterns in addition to the trendlines that SF has already pointed out. I did download cTrader and can well believe it is much better and more flexible than MT4 but, given my broker doesn't use it and the fact that I have spent several years learning to code MQL sufficiently for my own needs, I only used SF's indicator on cTrader to try to approximate the same in MT4. As Old Dog has said,...
Good job in this Hepsibah. You pointed out nice thing. I never tried this approach and it seems like it works. Will definitely check this one out soon. There are some more tho. I'm now trying to spot where price stops moving with reverse to another direction. Seems like we can use your points as help. Let's see. Happy to see your work. Thanks for it

SF
Quoting valesch
Just... wow... spot on reaction in DE30 just the last hour {image}
Good approach. Make more lines and see if more of them agree. Then you will get a pretty good signal. I did the same thing because it was better than miss some entries. Well done!
Quoting abusaad412
Still holding this basket Max floating loss were -$890 And now it seams to be going to where i wish it goes to i will give it few hours and see how it ends {image}
Interesting approach. Show us how it ended. Thanks.
Just to point out something if someone didn't realised. I like this thing in cTrader. I know, these are not all positions on the market, but it is ratio from people using cTrader. Not just one broker. It is mostly pretty same as OANDA ob so it is useful. I took trade just for fun and you can see it kinda works. You can use this with the system here to stay on the right side of the market. Since people do same mistakes everywhere.

Also wanted to ask if you guys found anything else like pattern? I'm still working on this so any help will be appreciated. I can also share some older system I had based on following the trend and trading tick charts. It is simple but worked pretty well. I might share it just for people that want to trade "brainlessly".
Attached Image
Quoting handy148
Very strange - tried the new 2 digit indi and it didn't work on two different mt4 platforms on two different brokers. The original didn't work on any forex pair on both brokers either. I'll take a further look after market close.
The same with bot versions
Quoting SilentFather
Just to point out something if someone didn't realised. I like this thing in cTrader. I know, these are not all positions on the market, but it is ratio from people using cTrader. Not just one broker. It is mostly pretty same as OANDA ob so it is useful. I took trade just for fun and you can see it kinda works. You can use this with the system here to stay on the right side of the market. Since people do same mistakes everywhere. Also wanted to ask if you guys found anything else like pattern? I'm still working on this so any help...
running with renko and also range bars staying away from candle sticks and tick charts so let others work in those zones will chart and update soon
Quoting SilentFather
Just to point out something if someone didn't realised. I like this thing in cTrader. I know, these are not all positions on the market, but it is ratio from people using cTrader. Not just one broker. It is mostly pretty same as OANDA ob so it is useful. I took trade just for fun and you can see it kinda works. You can use this with the system here to stay on the right side of the market. Since people do same mistakes everywhere. Also wanted to ask if you guys found anything else like pattern? I'm still working on this so any help...
You can use myfxbook.
Quoting SilentFather
Hi everyone, this what I'm willing to show you is something I made years ago. It will also be something like my own diary, because I tend to break my own rules. Which is bad of course. So, what you will find in this thread? // Please, thread is constantly updated because I cannot remember everything what I want to show you in 10 minutes. Keep this in mind and check it regularly, Thank You. \\ Updated for the indicator (cTrader version.. My own old version, I will make new one later but it is not needed right now) // You will understand why...
Hi Silentfather. what technique did you implement into this indicator? is it martingle? seems not much different for me. I have a good feeld for your indicator.
Profit growth tells you the trader ability.
Quoting handy148
Very strange - tried the new 2 digit indi and it didn't work on two different mt4 platforms on two different brokers. The original didn't work on any forex pair on both brokers either. I'll take a further look after market close.
Only just seen this and sorry to hear the indi is not working for you. It only uses two built in MT4 indicators: the ATR and Envelopes, there are no custom indicators. Could you look under the Expert and Journal tabs to see if there are any relevant error messages.
Quoting SilentFather
Just to point out something if someone didn't realised. I like this thing in cTrader. I know, these are not all positions on the market, but it is ratio from people using cTrader. Not just one broker. It is mostly pretty same as OANDA ob so it is useful. I took trade just for fun and you can see it kinda works. You can use this with the system here to stay on the right side of the market. Since people do same mistakes everywhere. Also wanted to ask if you guys found anything else like pattern? I'm still working on this so any help...
I started to collect sentiment data from myfxbook about a month ago to test the premise that trading against the crowd should be profitable. And on the data so far, it certainly seems to be the case.

On the chart the green lines show the average long price of trades held by retail traders and the number is the percentage of retail traders who are long. The magenta lines represent the average short price and the corresponding percentage. So, if you are looking for a bias, trading against the crowd should definitely give you an edge on the evidence so far
Attached Image (click to enlarge)
Click to Enlarge Name: sentiment.png Size: 36 KB
Quoting hepsibah
{quote} Only just seen this and sorry to hear the indi is not working for you. It only uses two built in MT4 indicators: the ATR and Envelopes, there are no custom indicators. Could you look under the Expert and Journal tabs to see if there are any relevant error messages.
I am also having problems running the BlueInd v1.2.mq4 indicator and I did not get any errors in the Experts and Journal tabs
I can do all things through Christ who gives me strength
Hi Hepsibah - I know the problem is not you as your reputation precedes you.

It shows as loaded successfully and initialised so I don't know what the problem is. Been using mt4 for what seems forever, so not a stupid newbie mistake on my part either. Tried it on all time frames and even altered the setting, but to no avail. Oh well never mind, knowing you you'll come up with something even better later and that will probably work.

All your stuff on Al System worked perfectly - shame that came to an end as there looked to be the makings of something good there.
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