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The present settings are all as per page 440 from Cazador.

 

One thing I am working on now is a very simple indicator as a bar histogram; GREEN for >wave & nonlagMA bullish and MarketBias bullish, YELLOW if contra-indication of any indicator, ORANGE for >wave but NonLahMA amd MarketBias bearish, RED for <wave and both other indicators confirm bearish and LIME for <wave but other indicators bullish i.e. a combination signal. The idea is simply to keep the chart as clear as possible while giving all the same information we are using.

 

hi acer;

 

thank you for the reply; i wish i had received that colossal l message though...it would have helped me; i presume, setup the settings. so there's 2 indicators and a template according to currency, correct?

i wanted to get the "default" or "ideal" settings for market bias and the new indicator caz came up with it.

isn't there a way to centralize everyone's settings? what works and what doesnt?

anyhow; till then, would you mind sharing the settings or im'ing me?

thank you,

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hey caz/acer or anyone else able to answer;

 

whats the purpose of this "wave" now if we buy and sell even if the line goes above or below the "wave?" before if it went above we "buy" if below we "sell." what's it purpose now? i see from your images that even if you are below the "wave" (red zone) you will still buy if the line turns green and market bias turns green. why do you still have the wave?

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Hi Samk

 

Personally, I am not so happy about going long below the wave or short above the wave though clearly there are opportunities to do so. The backtesting I have done seems to suggest that the initial signal of PA crossing the wave up or down is the most reliable signal. You can then take another bite of the cherry if there is a retracement or a counter-trade if the NonlagMA and MarketBias go the other way but I would regard these as higher risk trades.

 

No system is ever going to be precise but, to an extent, I feel that if we are picking up trades the "wrong" way it suggests that there may be more tweaking needed to the wave specification. We are mot or at least should not be aiming to catch trades at the top or bottom of each market cycle but instead need to jump in each time the market has truly made up its mind which way it is going.

 

For the mathematically inclined, think of a normal sine wave. Draw another one shifted forwards a little such that it crosses the first a little after the peak. It will then cross the line a little after the next trough and so on. This is exactly what we are aiming for with our "wave" signal. I did have a brainwave that working on the same analogy if we added a second wave with a negative rather than positive shift this would be a good exit signal. However, I do hope you can all see what an idiot I was for thinking along these lines.

 

A good exercise is to minimise your chart as far as possible and try out various moving average periods for your wave and just observe where, relative to price aaction, it would have signalled buy or sell trades.

 

There is another option which I have tried with some success. That is to add a second MarketBias indicator but with a very long period (I used 250) to indicate long-term trends and then simply use the NonLagMA set on a 35 period and MarketBias on a 50 period setting to identify trades in the direction of the long-term trend.

 

hey caz/acer or anyone else able to answer;

 

whats the purpose of this "wave" now if we buy and sell even if the line goes above or below the "wave?" before if it went above we "buy" if below we "sell." what's it purpose now? i see from your images that even if you are below the "wave" (red zone) you will still buy if the line turns green and market bias turns green. why do you still have the wave?

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Cazador thanks again for your efforts on this system. I have a question, you list a cazador crazy pips indicator in your list of indicators but I have not seen it posted on either thread. Am I missing something?

Yes, when we start the signals, I will share that indicator. I am testing now..

 

Regards.

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I have created a buy/sell signal that displays on your chart. If you guys have been following Cazador's threads on this system you will remember that I had posted a similiar signal indicator in last thread. This is an updated version using Cazadors parameters for entry. When he releases the crazy pip indicator I will add it to this signal indie.

 

http://img17.imageshack.us/img17/5893/premierecazadorsignalv3.gif[/url]

 

The default settings of the signal indicator are set for a 5 digit broker. You will have to change the parameters for a 4 digit broker. Its all explained in the parmater settings.

 

File:

hxxp://xxx.mediafire.com/file/k0nmetzme2j/Premiere Signal Cazador V3b.ex4 

Edited by scarface
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noone22 and everyone for that matter, please read the thread, your questions are answered in the very first post. These good threads can get very long when newcomers ask the same questions that have been answered previously. Cazador spent a good bit of time testing this system and has posted the link to the previous thread try referring back to it if you cannot find your answers in this thread.
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Cazador,

 

I used your 5 digit template on FXCM for EURUSD and GBPUSD, why does Market Bias show red during May 7 when there was a big move upwards though it was under the 50MA? Sorry, I do not know how to post charts for all to see....

 

ET, I will try and answer your question. The marketbias is based on a 100 LWMA so therefore it takes it a bit longer to respond to a market reversal. If you will look at the pic I have posted you will see the yellow line is a 100 LWMA and you will notice that it didn't turn up at when the market made its reversal on May 7. Hope this helps.

 

http://img686.imageshack.us/img686/3395/whymarketbiaswasred.gif

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According to Cazadors rules, as I understand them, you would exit your short on the GREEN and then re-enter on the RED, although you would not be in your short long before it would turn GREEN again. BTW et, its nice to see you again. Don't know if you remember me but I am sure you remember my friend EJCruiser.
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