TrendPipper- 5 Min - with NonLagMA, EMA and Pivots

[Guest rockymunda]

I like this system because:

 

1. Keeps me out until trend is starting

2. Gets me in early in a new trend

3. Keeps me in while trend develops

4. Gives colour coded entry signals

5. Specific exit point

6. Filters out bad signals

7. SL is small (10-15 pips)

8. TP anywhere from 10-50 pips per trade.

9. Few losing trades (if stick to rules), yet actively trading most of session.

10. Small Time frame, 5 mins

 

Visually back testing it produces 40- 100 pips per day (Late Asian and London Session) on GBPUSD, also trying it on EURUSD but so far prefer GU.

 

Today's trading on GBPUSD has produced around 88 pips (If taken all entries at correct time and stuck to the exit rules.

 

Please note it is NonLagMA not actually Hull indicators - If anyone knows the difference between the NonLag and Hull please post. I thought they were the same - apologies.

 

 

Chart Indicators and Settings:

 

5 Minute Chart

 

20 Exponential Moving average - set to close

 

Three NonLagMA indicators in separate window, set to 15, 30 and 50

 

set Fixed Min to 1 and Fixed Max to 2 to straighten indicator

 

(note NonLag indicator now does not have yellow as it was confusing people)

 

Pivots, Open, Yesterdays High and Low

(when I say Pivot in future I mean pivots, mid pivots, highs lows open etc)

 

I use 2 pivot indicators one has yesterday's high/low, today's open etc, and the Autopivot as it shows previous days Pivot lines but not highs or lows.

 

Candle Timer, Current Price (optional)

 

RULES

 

Trading times: late Asian and London session.

 

Can be difficult in early Asian if not trending. Not tried late US (I sleep then)

 

SIGNAL

 

1. NonLags all same colour (Red Short, Green Long)

 

Risky to enter on a signal, price has often moved away from 20 EMA and we get stopped out on on the retrace.

 

ENTRY

 

2. Wait for price to return to EMA and close in direction of trade below EMA for Short and above EMA for Long

 

I prefer correct colour candle for the direction also also.

 

If we wait for reverse to EMA, can have smaller stop loss, and higher probability, less false entries.

 

3. Check NonLag's still right colour for the direction of the trade.

 

If they are not this is indication price trend may not be following through on signal. Sometime just waiting for 1 or 2 candles we get confirmation.

 

4. Try not to enter if price too close to a Pivot point

 

eg if we want to go long and price is 4 pips under daily pivot not a good entry point.

 

EXITS

 

1. PIVOT POINT

 

Price gets magnetised to these points,

 

(these can be Daily PP, R1,2,3, S1,2,3, Mid points, Open, yesterdays High, or Low) ALL these points tend to be either stop and reverse, stop and consolidate, or slow, reverse, or continue). Either way can be good exit point as price is often indecisive at these points.

 

If candles are strongly going towards the pivot point, or if NonLag's all stay right colour consistently, consider holding to see if price goes to next pivot point especially if its a mid pivot point.

 

2. SIGNAL OTHER WAY

 

Consider exiting if 2 of the 3 NonLag's are wrong color.

 

Using this exit usually gets us out of a bad trade for either a couple of pips, break even or a few pips loss. Rarely should we watch it go to SL as there will usually have been an indication by the NonLag's that price was reversing. It is better to get out with a few pips loss and perhaps re-enter later.

 

 

STOP LOSS

 

Approx 10 - 15 pips, use your own judgement some pairs may need 15 others may need only 10. If we get the entry right, price often moves quickly in our direction so stop loss not an issue. But if you try to trade in low volatility or ranging times you may find stops being tested more often.

 

If we wait for the EMA retrace to enter, stops are hardly ever looked at, exits will then tend to be for a few pips or break even at worst if the trade doesn't follow through.

 

TAKE PROFIT

 

2 or 3 pips from the pivot you are trading towards.

 

If price misses by 5 pips or more it usually comes back for another go.

 

Alternate methods, take 50% at pivot, move to break even and let rest ride to next pivot.

http://img847.imageshack.us/i/gbpusd3apr11londoninpro.jpg/

http://www.multiupload.com/BV9RCJGVH3

[Saivenkat]

Well, Thank you Rockymunda for the sharing your system.

 

Downloaded it, I Will give a try and will revert back with results.

[Guest rockymunda]

thanks for your interest

[vladv]

Thanks a lot for sharing your system,rockymunda.Can you post some screenshots with actual trades taken,please?

[Elma]

I'm following this thread as well...

 

It is from f0rexF@tory forum...exactly the same...

[iwjw]

rockymunda,

if you're not juli1585 from FF, please be so kind and respect her "copyright"

Don't let it look like it's "your" system if it's not and amend that in post #1

[Guest rockymunda]

yes iwjw u r rite, its his system which i have been following also

will put some snaps also

( i just had sharing feeling, no Bad Intentions)

regards

rocky

 

just following his system u can see my post there also

( very soon i will be posting my ac statment)

Edited April 8, 2011 by rockymunda

[CiDER]

Thanks 4 sharing! :D

[rmitsos]

Thanx for bringing it here. It's very very interesting! !