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Trend Pullback System: Perhaps Best Entry Signals Ever! (share)


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Here is the Renko-EA .

It either belongs into the experts folder or into the experts/scripts folder because it can be used as EA or script. ( the rangebar EA which Diesel10 posted can be used as EA or script too )

http://www.speedyshare.com/files/28322972/RenkoLiveChart_v3.2.mq4

Thanks. I think if you use it as a script it wont draw the missing bars. better as an EA

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I crafted an EA for Diesel's Trend Pullback system using the posted rules.

 

I'm running it on my offline M2 chart now for one day, but I get no trades at all. Using the indicators on the chart I get many arrows, so trades should have been happened. No errors in the experts/journal tabs. Unfortunately I don't really understand mql4 good enough to check order conditions in the code, so.. seems it's not working.

 

Did no one else try it?

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how to avoid this false signal?

 

http://screencast.com/t/TlanOGjwggD1http://content.screencast.com/users/Animedia/folders/Jing/media/5b6446a5-f496-442d-a144-ddb2d91a5cb1/2011-05-04_1803.png

 

"In general", many false signals can be filtered out if you wait until the close of the bar after the arrow and then only trade if the HullMA confirms (has changed color). Of course this means a little later entry, but as usual, nothing's perfect...

Edited by Diesel 10
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Hi,

 

here a rangebar indi that solv problms, it used as indicatur, not as EA. good. mutiple chart one platforms

 

Yes, that did work for me. Thanks! One thing I should mention, for a 10pip range bar, I set to 10 even though a 5digit broker. Many of these Range Bar type applications require you to set it to 100.

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Meaning... I can only trade 1 pair (1 range bar) per platform?

Yes, exactly, if you use the RangeBar EA ( or script ) which is in the package Diesel10 shared.

 

But I am very glad and thank flamenco for sharing a RangeBar Indicator which does not produce the glitch when we run more than 1 chart or pair as RangeBar-chart on the same Mt4 platform.

Posting #81

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I have just uploaded the following eBook about all trading strategies using the Price-Based charts:

 

"Sentiment Indicators - Renko, Price Break, Kagi, Point and Figure"

 

You may find this book very useful when compare different price-based charts and their merits.

 

http://www.mediafire.com/file/i5j1qq21wp7oga9/Sentiment%20Indicators%20-%20Renko%2C%20Price%20Break%2C%20Kagi%2C%20Point%20and%20Figure.pdf

 

 

or

 

http://www.mediafire.com/?i5j1qq21wp7oga9

 

 

Enjoy and make more PIPS.... PEACE !!!

 

 

 

 

Hi people,

 

Is it possible for anyone to repost this file ?

 

I cannot manage to download it. It says "Invalid or deleted file".

 

Thanks,

Nice weekend to you.

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Hi,

 

Using the "Period Converter" script to generate the offline M2 timeframe for MT4 or consider M5 that had the M2 live timeframe but you need the indicators converted to MT5

 

As I mentioned before, M2 is not a 2 minute chart (so period converter is not used). It is just a placeholder for a rangebar chart. If using the EA, load the EA on a 1min chart and specify 2 in the settings. Then open a offline chart using M2 and apply the template.

 

By the way, I did try using the rangebar indicator shared previously but it yielded different results so I am sticking with the EA.

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As I mentioned before, M2 is not a 2 minute chart (so period converter is not used). It is just a placeholder for a rangebar chart. If using the EA, load the EA on a 1min chart and specify 2 in the settings. Then open a offline chart using M2 and apply the template.

 

By the way, I did try using the rangebar indicator shared previously but it yielded different results so I am sticking with the EA.

 

Hi Diesel,

 

Could you please give more details about what are the difference? The arrow painted on different bar?

 

Thanks.

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Hi Diesel,

 

Could you please give more details about what are the difference? The arrow painted on different bar?

 

Thanks.

 

It wasn't so much a big difference in signals that I remember. The actual bars showed some difference (on same MT4 Platform). I had my friend "Alright" check on his machine and he agreed that there was difference in the number and sometimes shape of some of the bars. The difference was not dramatic, but since we both were used to the EA version and had no problems with it, we decided to stick with it. To be frank, I have not tested the indicator version and do not know definitively if the signals would be better or worse. You may wish to look into this at your leisure.

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Hi Diesel 10,

 

The below training video presents an alternative strategy based on the constant Range bar chart as you provided; this strategy is a counter-trend strategy which is exactly the opposite of your trend-following strategy. But, it can be easily converted into a trend-following strategy. It is worth a look.

 

Also, this training video strategy is using the eMINI S&P futures contract as an example with TradeStation easy language as a trading platform; but it should be easily programmed in MT4 mql.

 

The Range Bar mentioned in the video is a 1 point range bar, which is 4-tick worth $50 dollar per point in ES (S&P eMINI).

 

http://www.traderkingdom.com/trading-tools-archived-webinars/2154-trading-indicator-recorded-webinar-scalping-strategy--codes-and-formulas-revealed

 

The video also illustrated the different performance results between a 1-point range bar (price-base) chart and a 5-minute chart. The comparison between the two for this particular counter-trend strategy is like heaven and earth. The range-bar based chart out-performed the 5-minute bar chart by a mile. Very interesting results, indeed.

 

Enjoy.. PEACE!!!

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Hi guys and girls,

 

I made a tiny modification on StochRSI Oscillator indie and it gives less false signals.

 

Everything is same as Diesel posted, just replace the modded StochasticRSI indie.

 

http://www.4shared.com/file/-4HLlYdA/MT4-StochasticRSI-Oscillator_w.html

 

Thanks.

But where is the difference, between your modification and the Diesel,s posted StochasticRSI indicator ?

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Thanks.

But where is the difference, between your modification and the Diesel,s posted StochasticRSI indicator ?

 

 

I put an additional condition to set a candle signal candle, namely second candle's stochastic before the signal candle must be below 75/over 25.

Just compare on chart.

Edited by san1111
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Newbie here. I just tried to open M2 offline chart but in the list there is no M2 chart. Only got M1,M5...... and I just opened M1 and attached the template. Is that Ok? Am I getting the same chart as M2? And another thing, do I need to refresh all the time to get the real time feed? Thanks
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