wonderwoman Posted December 4, 2009 Report Share Posted December 4, 2009 eHi All I am trying to create a short term / scalping trading system either 1 or 5 min (I will get ever so board if it is any longer than that) and I have identified that I will probably need a leading indicator such as an Oscillator (OBOS or RSI), a momentum indicator I have not identified a momentum indicator yet if anyone can recommend one I would be most appreciative. A fractal S&R indicator (I am still trying to find one of these as well) not doing to well up to now. And last but not least price action and price patterns. Hopefully if I can put all this together I might start getting somewhere. I have spent a lot of time reading price action on the EURUSD, so this will be the market I will trade and the studying I have done on price action should help greatly in the long run. If anyone can recommend any indicator they find useful or useful pointers/help , I would really appreciate it, sorry for rambling on a bit. Thanks for looking wonderwoman x Quote Link to comment Share on other sites More sharing options...
chankl78 Posted January 25, 2010 Report Share Posted January 25, 2010 Re: Creating a Short term / scalping system http://indo-investasi.com/viewtopic.php?f=40&t=7575 Maybe you can try to work something out of the indicators from the above post. The indicators is quite nice. Think his winnings is quite good as well. Quote Link to comment Share on other sites More sharing options...
Starting Posted January 25, 2010 Report Share Posted January 25, 2010 Re: Creating a Short term / scalping system Basically in order to get into a trade you need to know: - trend direction (moving average can be used on TF which is higher to your working TF) - start of impulse wave (by this I mean there was a retracement and now impulse wave starts to grow in trend direction); - closest support and resistance levels (this is required to find out your Stoploss and Takeprofit safety zones). With third task I can help you. TRy this indicator plotting levels of S/R for you. http://www.4shared.com/file/207192389/e0b243b2/FPM_Support_and_Resistance.html EDIT by Starting: Above file was removed from sharing. By this I mean local S/R levels, not those daily levels, with pivots or gann methodology. This is simple one for helping in simple strategy. The second indi you would need is to show you the start of impulse wave. On this I can suggest to check Solar Winds or xd4b / SEFC 08 indicator (actually they produce similar results, all repaint last and historical bars, but we can live in profit even with these drawbacks). [url]http://www.4shared.com/file/207199085/3c4336c1/xb4d.html[/url] [url]http://www.4shared.com/file/207198680/f018d999/SEFC08.html[/url] You can play with moving average and its length in order to show you current trend. Depending on what working TF you select, I suggest to go few levels up for detecting trend, i.e. if you trade on M5 current trend will be well reflected on H1-H4. By "trend" I mean a more or less lenghty direction of price move, not just an every and single fluctuation back and forth, which we can find on M15 or even M30. Quote Link to comment Share on other sites More sharing options...
wonderwoman Posted January 28, 2010 Author Report Share Posted January 28, 2010 Re: Creating a Short term / scalping system Thanks guys for helping me out with some thoughts and ideas about developing my scalping system I shall certainly check them out. I have definitely come to the conclusion that this is going to be a million times harder than I ever thought it would be. I need to make sure that I don't start jumping from one set of indicators to another. I just need to find a set of indicators demo trade them insuring my risk to reward is greater that 1. But that is great in thoery and exceptionally hard in practice. I have realized when I try and trade longer time frames I become very impatient, sitting waiting for a trade to come, I only seem to be comfortable when I am trading shorter time frames, but I suppose they are the hardest. Thanks anyway from your time and effort in helping me out it is much appreciated. Cheers wonderwoman Quote Link to comment Share on other sites More sharing options...
Starting Posted January 28, 2010 Report Share Posted January 28, 2010 Re: Creating a Short term / scalping system Thanks guys for helping me out with some thoughts and ideas about developing my scalping system I shall certainly check them out. I have definitely come to the conclusion that this is going to be a million times harder than I ever thought it would be. I need to make sure that I don't start jumping from one set of indicators to another. I just need to find a set of indicators demo trade them insuring my risk to reward is greater that 1. But that is great in thoery and exceptionally hard in practice. I have realized when I try and trade longer time frames I become very impatient, sitting waiting for a trade to come, I only seem to be comfortable when I am trading shorter time frames, but I suppose they are the hardest. Thanks anyway from your time and effort in helping me out it is much appreciated. Cheers wonderwoman Yep, nobody said its gonna be easy money. On my prev post I got a warning from 4shared to delete FM_REsistance commercial indi. I deleted it. Instead of it I have another similar and free indi we can use here: http://www.4shared.com/file/209752337/a768c23f/DT-ZigZag-Lauer.html wonderwoman, Good luck in your development! I do very respect ladies in trading, this is not an easy business and requires a lot of efforts, so best luck to you! Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 6, 2010 Report Share Posted July 6, 2010 If you are still interested in this project WW I would suggest the five bar reversal pattern. Freddie Quote Link to comment Share on other sites More sharing options...
juicyt Posted July 6, 2010 Report Share Posted July 6, 2010 Why not trade Forex trading made e-z? It works fine Quote Link to comment Share on other sites More sharing options...
huuu Posted July 6, 2010 Report Share Posted July 6, 2010 Why not trade Forex trading made e-z? It works fine Do you have a link for this system? Tried a search on this site, but did not bring up anything. Quote Link to comment Share on other sites More sharing options...
Freddie Posted July 6, 2010 Report Share Posted July 6, 2010 Do believe that I have this one. Don't know how to share it. Thought that I got it from here. Any advice? Freddie Quote Link to comment Share on other sites More sharing options...
soundfx Posted July 6, 2010 Report Share Posted July 6, 2010 Guys, EZ is in the last post here: http://indo-investasi.com/showthread.php/2025-Forex-Made-EZ-by-George-Smith?p=65542&viewfull=1#post65542 Quote Link to comment Share on other sites More sharing options...
bizops Posted July 6, 2010 Report Share Posted July 6, 2010 (edited) Try the 4x predictor and FIP line indicators in the non repainting indicator thread, on 5min timeframe. Also add the free "trend dashboard indicator" google search. Take buys when you have at least 3 or more green arrows displaying on the dashboard for the 5min, 15min and 1HR timeframes. opposite for sells. i.e. 3 or more red arrows on 5min, 15m and 1HR. On any currency pair with a spread of 3 or less. Hope this helps... Edited July 6, 2010 by bizops Quote Link to comment Share on other sites More sharing options...
anton1713006147 Posted July 15, 2010 Report Share Posted July 15, 2010 http://indo-investasi.com/viewtopic.php?f=40&t=7575 Maybe you can try to work something out of the indicators from the above post. The indicators is quite nice. Think his winnings is quite good as well. Hi Chankl78, How are you? Would you please re-uploas the above file? Thanks and regards Quote Link to comment Share on other sites More sharing options...
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