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

[alright]

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

I'm afraid that's not OK. I've just prepared a step by step procedure to get your range bar charts. DO NOT MISS ANY STEP.

 

- Copy the s-Constant Range Bars to your Metatrader Experts folder and restart MT4.

 

- In the top menu bar click Tools>Expert Advisors and set it as in this pic http://i52.tinypic.com/52gqw3.jpg

and click OK.

 

- Open an M1 chart, drag the s-Constant Range Bars EA onto the chart and use the settings as in this picture (BarsRange set to 10 and MaxBars set to 1,000,000) http://i56.tinypic.com/34yci6g.jpg

 

- Keep this 1M chart open all the time. If you don't want it to bother you, just minimize it.

 

- Now click File>Open Offline, double click EURUSD,M2. That's your range bar chart set to 10 pips per bar. Now you can load all the indicators you want and you don't need to refresh anything. This chart will load every time you open MT4 and will refresh itself as long as that 1M chart you opened at the beginning will stay open. Hope this helps.

[thamira83]

I'm afraid that's not OK. I've just prepared a step by step procedure to get your range bar charts. DO NOT MISS ANY STEP.

 

 

Thank you alright, but my problem is still there. I attached images below. (Open image in a new tab)

 

http://imageshack.us/photo/my-images/821/57484644.jpg

 

 

 

I did everything as said but there is no M2 in offline charts.

 

http://imageshack.us/photo/my-images/714/30579752.jpg/

 

Any idea what's going on? Thanks

 

P.S: Problem solved. tnkx

Edited May 10, 2011 by thamira83

[ArtOfTrade]

Hi,

 

Here had some decription on constant rangebar chart:

hXXp://n0v@[email protected]/nov@[email protected]

Edited May 10, 2011 by ArtOfTrade

[wadesworld]

Oh, hell.... this deserves a second Thanks!... lol. We should make him a Moderator... why not, he does everything else on this forum!

 

A second on that motion is given.

[oanhmap]

Good job. Thank you so much.

[PIPHORE]

has anyone try this system on other pairs beside EU?

[grooter]

Works similar on GBPUSD, I'm using a 13 pip range chart.

[Diesel 10]

I have a suggestion to avoid some of the bad signals. Use the arrows as a early warning and then enter once the StoRSI has left the OB/OS zone. You will be getting in usually one bar later but with much less false signals. Hope this helps.

[PIPHORE]

I have a suggestion to avoid some of the bad signals. Use the arrows as a early warning and then enter once the StoRSI has left the OB/OS zone. You will be getting in usually one bar later but with much less false signals. Hope this helps.

 

good suggestion I have the same thought in mind, however if the indicator be programmed only give alert when the price leaving OB/OS that'll be good.

[Diesel 10]

good suggestion I have the same thought in mind, however if the indicator be programmed only give alert when the price leaving OB/OS that'll be good.

 

Fine with me if you or someone else wants to change the code. I don't have the coding knowledge to do it.

[MacGyver7]

What about settting the slowing of the StochRsi-period to 1 or 2 and use the zero crossing as signals?

[san1111]

Fine with me if you or someone else wants to change the code. I don't have the coding knowledge to do it.

 

I put the suggested changes into indi. It's gives you signal when price leaving OS/OB levels.

 

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

[PIPHORE]

I put the suggested changes into indi. It's gives you signal when price leaving OS/OB levels.

 

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

 

thanks for the indi, put on chart but I saw some of the arrows are missing on current chart.... maybe you might like to take a look in the code again.

http://i53.tinypic.com/2bs66u.gif

Edited May 18, 2011 by PIPHORE

[san1111]

thanks for the indi, put on chart but I saw some of the arrows are missing on current chart.... maybe you might like to take a look in the code again.

http://imageshack.us/photo/my-images/839/arrowmissing.gif/

 

Hi PIPHORE,

 

yes that's right, because in original indi there áre more conditions than crossover 25/75 line. Here is indi which is checks only MA Adaptiv RSI direction and Stochastic 25/75 crossover:

 

http://www.4shared.com/file/KQN5EEYE/MT4-StochasticRSI-Oscillator_w.html

[PIPHORE]

Hi PIPHORE,

 

yes that's right, because in original indi there áre more conditions than crossover 25/75 line. Here is indi which is checks only MA Adaptiv RSI direction and Stochastic 25/75 crossover:

 

http://www.4shared.com/file/KQN5EEYE/MT4-StochasticRSI-Oscillator_w.html

 

now it looks like all the arrows are correct, well done San1111

 

just curious what do you mean the original indi there are more conditions than xover 25/75 line? as far as I know the indi give arrow when it's in oversold area and adaptive MA is green and vise versa. when 2 conditions are not met then the arrow is not printed.

[san1111]

now it looks like all the arrows are correct, well done San1111

 

just curious what do you mean the original indi there are more conditions than xover 25/75 line? as far as I know the indi give arrow when it's in oversold area and adaptive MA is green and vise versa. when 2 conditions are not met then the arrow is not printed.

 

The conditions for buy signal are (indexes as normally in indies: 0-current candle, 1-previous candle, 2-second before current candle)

 

- direction of MA Adaptive RSI,

- Stochastic[0]>Stochastic[1],

- Stochastic[1]<=Stochastic[2],

- Stochastic[1]<=25

 

and vice versa for sell signal, just last one is Stochastic[1]>=75.

[kaze]

thank you very much

[PIPHORE]

I have a suggestion to avoid some of the bad signals. Use the arrows as a early warning and then enter once the StoRSI has left the OB/OS zone. You will be getting in usually one bar later but with much less false signals. Hope this helps.

 

another filter I found which is good is to take long trade when current price is above adaptive MA and MA is slopping upward and for sell trade is vice versa. also you might want to consider NOT taking a trade when the price has travelled far from adaptive MA.

 

again, thank you Diesel for sharing this awesome system.

[bogdan11]

Thank you very much for this amazing system

[cstellamae]

Thank for sharing and everybody working together on this project. I am a newbie. I wish I could help except to test, learn and try and understand.

God Bless you all

[forexi]

Been trading with this system for a while now, lots and lots of false signals.

[pgpb]

Been trading with this system for a while now, lots and lots of false signals.

 

Hi there

 

I am new to this forum,

 

It seems to me, that saying....."the system gives a lot of false signals" without giving specifics is not very helpful.

 

There is no perfect system that will give ONLY perfect signals.

 

All systems require some traders discreation. For example there are some times of day that are good to trade and some times of day that are terrible to trade.

 

I have started (very recently) trading this system with the addition of HA candles and pivot points

 

PGPB

 

PS. using it on a 5 min chart, NOT the range bars

Edited May 18, 2011 by pgpb

[PIPHORE]

Been trading with this system for a while now, lots and lots of false signals.

 

yep there are false signals but not a lot, do you follow system rules? Keep in mind there is NO HOLY GRAIL in forex, and this system is NO exception. But when you practice more you'll realize that this is the closest one. This system is like dark onix system over at TSD but this one with smaller SL which suit me perfectly.

 

cheers

[Condor_Hawks]

yep there are false signals but not a lot, do you follow system rules? Keep in mind there is NO HOLY GRAIL in forex, and this system is NO exception. But when you practice more you'll realize that this is the closest one. This system is like dark onix system over at TSD but this one with smaller SL which suit me perfectly.

 

cheers

 

============================================

 

Yes, I have to agree that there is no such thing as Holy-Grail.

 

But, if you can control your risk with a set of good money management rules for this constant range-bar trend-pullback strategy, it will be as close as Holy-Grail.

 

It would be more profitable and has less false signals, if this constant range bar system only takes the trades in the direction of H1 timeframe.

 

So, the new system will be a hybrid of a combination of price-based range bar system and time-based H1 time-frame system.

 

Hence, if H1 is in an up-trend, then only take all the "long signals" produced by the range bar arrows, and if the H1 is in a down-trend, then only take all of "short signals" generated by the range bar arrows.

 

With the combination of two, I believe the risk-reward will be immensely enhanced and the false signals will be significantly reduced. But, you may have a lot less signals generated because of the extra H1 time-frame filtering. But the extra H1 trend filtering is worth the effort in order to reduce the false signals hence reduced risk, and increased confidence when trading live.

Edited May 19, 2011 by Condor_Hawks

[PIPHORE]

============================================

 

Yes, I have to agree that there is no such thing as Holy-Grail.

 

But, if you can control your risk with a set of good money management rules for this constant range-bar trend-pullback strategy, it will be as close as Holy-Grail.

 

It would be more profitable and has less false signals, if this constant range bar system only takes the trades in the direction of H1 timeframe.

 

So, the new system will be a hybrid of a combination of price-based range bar system and time-based H1 time-frame system.

 

Hence, if H1 is in an up-trend, then only take all the "long signals" produced by the range bar arrows, and if the H1 is in a down-trend, then only take all of "short signals" generated by the range bar arrows.

 

With the combination of two, I believe the risk-reward will be immensely enhanced and the false signals will be significantly reduced. But, you may have a lot less signals generated because of the extra H1 time-frame filtering. But the extra H1 trend filtering is worth the effort in order to reduce the false signals hence reduced risk, and increased confidence when trading live.

 

You can play around with adaptive MA and try setting with higher number than 20 -- that take you to trend on higher TF. But I like 20 coz it's short term trend and try to reduce your TP to 15-20 pips close portion of your trade and let the rest run by trailing SL.

 

Hope this helps