XO_Method REVISED - page 10

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Joe SDF:
I have just finished reading all 114-pages and 1125-posts for both threads for the "X-O"-Method and found it to be a worthwhile effort. I am really impressed by 3 things; the professional and cooperative effort from so many serious traders, the patience and leadership from ValeoFX, and lastly the result of this evolutionary effort. Apparently a year ago ValeoFX saw the potential of "X-O" and understood that as good as it was it needed some filtering to improve entries. The core filtering indicators you have added puts this methodology squarely on the shoulders of some of the giants in modern technical analysis:

ASCTrend = Dr. John Wang

CCI = Donald Lambert / Ken Wood, "Woody"

RSI = J. Welles Wilder

Stochastics = George Lane

...and I must add the mysterious Sharipov Ainur to this illusterious group for his "X-O". This methodology appears to be accurate, stable and most importantly profitable. I believe that using MTF's should also make it robust through changing market conditions. I am just starting to use the method in realtime and look forward to making some contributions to the thread. I do have some ideas regarding MTF variances. Well done my electronic friends.

Joe SDF

Joe, thank you for humbling us all by comparing us to the giants, but your heart speaks volumes. I would love to hear your ideas about MTF variances though and if you PM me your e-mail address, I wish to share something in return with you.

Best wishes, always.

 

23rd April entry

If you were hesitant in entering this morning, I can understand it as the MTF_4TF_XO was RED when we opened our charts. It was just a question of when will it break out.

First observation:.......where was the price in relation to the Pivots and which Pivot in particular? This one was the Main Pivot and therfore significant.

First "signal" was at 05h50 when the CCI Turbo overheated for a long and 2 more attempts at that.. When it broke through for the short indication @ 07h10, it took the 55_CCI (Trend) with it, BUT the "T" overheated" immediately, so we should have waited and also, the price closed above the Pivot.

07h20 was technically correct, but usually I suggest we wait until the "T" finishes its retrace and ideally the entry should have been @ 07h45 and here is the dilemma for most:

Some people would suggest that the CCI_55 was too low @ -250, but remember that the CCI_55 can go down to -550 with ease and that is where the Stochastic comes into play.

Note that the Stochastic was <30% level and therefore with enough spce to allow for a trade.

Exit was very easy - when the CCI_55 overheated on -450 and the price hit a pivot, you exit immedaitely, don't even wait for the candle to close.

I wish to add value to this method by suggesting you open another TF which should remain open for the entire period that you are in front of the computer, but I want to word the addition correctly, so it will come later.

Any suggestions and/or comment are welcomed as usual.

Best wishes, always.

Files:
entry_23_april.gif  32 kb
 

When switched on...

When I switched on, I had missed the entry, but my XO's were not red. I took the short with a minimal target (the red support line) and won my 6 pips.

Very happy to do that. Luckily I have a good arrangement with my broker for scalping and also lightening fast execution.

I was finding a Woodies CCI set on 15 minute chart at the Woodies default (14,6) very helpful as a combination. Most important of all though is seeing where things are on a daily and one hour chart. Getting a decent Candlestick pattern on 1 hour chart for example makes me far more confident in trading this system.

 

Significant imrpovements in the RSI-window

After successfully trading the new version of the RSI-5 on the 5M_Chart together with its improvements, I am happy to inform you that I have found the overlay of a 14-RSI over the 5-RSI to be extremely effective for change in direction.

Beauty of this method is that you can "back-test" the results as it does NOT repaint at all.

Whenever the RSI-5 crosses above / below the RSI-14, the directional change is in effect. What is also of extremely good value is the fact that in a retrace, the 5-RSI does NOT cross the 14-RSI and one knows immediately that the ensuing direction is still strong - its like the ZLR on the CCI.

Furthermore, I have added a Z_MTF_RSI set @ TF 60 and setting @ 5 over all of the RSIs so that you can see where the 5-RSI is on the H1-chart and what I find is that whenever the RSI-60M is above the 50%-level, it confirms the long signal and vice versa when the RSI-60M is below the 50%-level. I attach this indicator here for your perusal and use, thanks to my friend Gerhard (DayTrader)for his assistance in helping me to achieve my desired goal with the RSIs.

I have also added the Template seperately in Post #2 so that you do not have to download the entire spectrum of indicators again.

I look forward to hearing from your success with this method.

Best wishes.

Files:
tsd-forum.tpl  111 kb
z_mtf_rsi1.mq4  5 kb
 

Proposed 4TF_XO setting changes..

I have tested the changes I am about to suggest here for the month of April - live!! - and with excellent results. I suggest for those of you who trade this method, that you run a seperate 5M_TF with these suggested changes before you trade them, but they worked extremely well for me.

All KirPERS on 6.5 as before.

TF changes as follow: 5M / 15M / 60M / 240M

I have been running another MTF_5TF_XO very kindly made for me by my friend Gerhard (DayTrader) for the last 6 weeks and I will post this indicator by the end of this month UNLESS there are specific requests for it. I traded this XO-5 live this past month, with astonishing results and you will see why once you have it. It gave me 18,4% more pips compared to last year April ( I know that this year is different to last year, etc but for the purists...) and best of all, I left fewer pips on the table in the process.

Having said that, you will see what I mean if you change the TFs as recommended above and still run the XO_A_240(6.5) with it.

Good trading and best wishes, always.

 

New setting

Hi ValeoFX..

Just wanna double check the new setting..

KirPER = 7.0

TF1 = 5

TF2 = 15

TF3 = 60

TF4 = 240

KirPER1 = KirPER2 = KirPER3 = KirPER4 = 6.5

Is this correct?

Thanks

 

KirPER settings ........

boostedtrader:
Hi ValeoFX..

Just wanna double check the new setting..

KirPER = 7.0

TF1 = 5

TF2 = 15

TF3 = 60

TF4 = 240

KirPER1 = KirPER2 = KirPER3 = KirPER4 = 6.5

Is this correct?

Thanks

Yes, all correct except change the first KirPER also to 6,5 to stop any confusion, please.

Best wishes.

 
ValeoFX:
After successfully trading the new version of the RSI-5 on the 5M_Chart together with its improvements, I am happy to inform you that I have found the overlay of a 14-RSI over the 5-RSI to be extremely effective for change in direction.

Beauty of this method is that you can "back-test" the results as it does NOT repaint at all.

Whenever the RSI-5 crosses above / below the RSI-14, the directional change is in effect. What is also of extremely good value is the fact that in a retrace, the 5-RSI does NOT cross the 14-RSI and one knows immediately that the ensuing direction is still strong - its like the ZLR on the CCI.

Furthermore, I have added a Z_MTF_RSI set @ TF 60 and setting @ 5 over all of the RSIs so that you can see where the 5-RSI is on the H1-chart and what I find is that whenever the RSI-60M is above the 50%-level, it confirms the long signal and vice versa when the RSI-60M is below the 50%-level. I attach this indicator here for your perusal and use, thanks to my friend Gerhard (DayTrader)for his assistance in helping me to achieve my desired goal with the RSIs.

I have also added the Template seperately in Post #2 so that you do not have to download the entire spectrum of indicators again.

I look forward to hearing from your success with this method.

Best wishes.

Thanks for this valueable research Valeo

Gotta try it now. Good Job

Cheers,

 
wibitiens:
Thanks for this valueable research Valeo

Gotta try it now. Good Job

Cheers,

Please do and let me know if I can be of any further assistance to you, anytime. Best wishes.

 
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