XO_Method REVISED - page 139
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Hi,
Here is a small contribution to the thread and my friend Valeo for his never ending efforts.
It is an indicator named Valeo Display which combines the indicators used in a nifty 'traffic lights' display in the upper right corner of the chart.
Pretty simple to read, it displays a light for each indicator, red when the specific indicator shows short, green when long, yellow when overheated (or stand by) and gray when turned off.
So when everything shows red it suggests entering a short position and when everything is green a long position.
Since this is an indicator, it doesn't trigger trades but it alerts you either by standard MT4 alerts, by a MSN like pop up window to the lower right of your windows taskbar and it can send emails.
A quick and dirty user's guide is also attached, but if you have any questions please don't hesitate to email me (so we don't clutter the thread) and I will be glad to assist.
I hope you will find it useful.
YannisThanking you most sincerely, my friend. Be blessed for this contribution.
Best wishes,
Thanks for your kind words Valeo but all credits go to you.
I am sure that this visual helper can evolve and we'll be able to include more indicators in the equation if needed. I am trying it on a demo account along with Artemis_Sitter for the trade management as times permit since you know my time is restricted, but results are good.
Again, many thanks and congrats for the excellent work, help and devotion to this thread.
Y.
SMA(10) on the Chimp2
Within the Navigator use the "Indicators" tab not the "Custom Indicators" tab. Use the "Moving Average" indicator and drag it to the Chimp2 Indicator window. Be sure to Apply to: First Indidcator's Data. If you have any problems please PM me.
Best regards,
Joe SDF
Thanks Yannis - this looks very useful indeed, will try it out. Its good that Valeo has so many friends!
Thanks
Pardy
Hi,
Here is a small contribution to the thread and my friend Valeo for his never ending efforts.
It is an indicator named Valeo Display which combines the indicators used in a nifty 'traffic lights' display in the upper right corner of the chart.
Pretty simple to read, it displays a light for each indicator, red when the specific indicator shows short, green when long, yellow when overheated (or stand by) and gray when turned off.
So when everything shows red it suggests entering a short position and when everything is green a long position.
Since this is an indicator, it doesn't trigger trades but it alerts you either by standard MT4 alerts, by a MSN like pop up window to the lower right of your windows taskbar and it can send emails.
A quick and dirty user's guide is also attached, but if you have any questions please don't hesitate to email me (so we don't clutter the thread) and I will be glad to assist.
I hope you will find it useful.
YannisValeo/Yannis,
Just got the first signal on cable - price fell by 30 pips in 2 mins!!! Still testing this of course, just thought I'd let u know!
Thanks again,
Regards
Pardy
Hi Valeo,
May I suggest that to put alert when the Chimp2 cross 6/10 SMA? Anybody willing to do it? I'm not a coder.
Thanks.I have asked the Forum members for help; so let us see if anything comes from the request.
Best wishes.
I think there will be a programmer to do that
Like your System.
Regards
Hi Dyeung,
I see you say............".........but the slope of i-MA are lagging the price a bit(therefore MA cross or price cross MA is not useful).
I don't understand how you can make such a statement. If you watch it in real-time, you will see that it is in fact as stable as a rock. Secondly, the Hi/Lo is indeed excellent Res/Sup-levels and hence the reason why I use it like that.
When you look back as in back-testing it, what you sometimes see is a slight widening away from the center-line (which you see as slope changes - please ignore "slope" for the rest of your days - it is NOT worth the time)which I cannot explain as it is the exact same indicator, just set at Hi/Lo but whenever it reaches the candles, it behaves correctly. If you do not want to use it, please don't as it will just cause you more frustration to have to look at it.
I use the 28-EMA setting for M-5. (I thought I mentioned that from Day 1 that I trade 28-EMA on M-5?)
I still use the 10-SMA on the Chimp2. It gives the best results for me on my platforms. You may want to experiment with your platform and let us know should you get different results.
No, there is "NO TYPO" - are you a "speed reader" by any chance? You seem to read so fast that you miss the nuances. The "0.04" is the filter so that I do NOT use the zero-line as entry line. If you back test it, you will clearly see why.
The levels I use was in fact 0.3 / 0.6 / 0.9 as per the developer's recommendations, but I have dropped the 0.3 to get a cleaner looking chart. I find the 0.3 to be of no value at all - not that I say it has no value, just for me I see none.
Trust this helps.Hi Valeo,
I decide to give up i-MA as it seems to bring more confusion to me. My eyes are not "ready" yet to accept this indicator.
However I start using chimp indicator and it's like a gem. I backtest and forward test 10-SMA and 6-SMA and IMHO 10-SMA is better. 6-SMA gives too frequent signal especially in 5M chart. Also chimp seems to work well in higher TF(15M/30M), when there is conflict between 15M/30M chimp & 5M chimp, 15M/30M chimp would tell you the trend is not exhausted yet.
dyeung
I think there will be a programmer to do that
Like your System.
RegardsAppreciate your interest, Mr.FX. I too hope that someone will assist.
Wishing you well, always.
Hi Valeo,
I decide to give up i-MA as it seems to bring more confusion to me. My eyes are not "ready" yet to accept this indicator.
However I start using chimp indicator and it's like a gem. I backtest and forward test 10-SMA and 6-SMA and IMHO 10-SMA is better. 6-SMA gives too frequent signal especially in 5M chart. Also chimp seems to work well in higher TF(15M/30M), when there is conflict between 15M/30M chimp & 5M chimp, 15M/30M chimp would tell you the trend is not exhausted yet.
dyeungNo problem, my friend - to each his own as they say in the classics. As far as the Chimp is concerned, you are right on the money there. I still run the 10-SMA on M-5 as I mentioned above.
Continued successful trades today.