OVERBOUGHT/OVERSOLD Indicator TMA channel

• 05/11/2017 at 9:56 AM #35171
  RAAAMMY

  Hi Nicolas,

  The TMA is great when price is ranging up and down in the channel, however most times price does not behave that way.

  The main focus of my trading is the GER 30 on a 30 second chart.

  With Heikin Ashi candles

  A 34/35 EMA and the Awesome Oscillator for direction

  Price crosses the EMA and then pulls back to the EMA.

  The AFL Winner OBOS set to period 4 AVG 5 gives me the entry signal – on a bounce off the EMA.

  I am looking to scalp 5 pips.

  Don’t trade before 08.00

  Auto exit at +5 pips or get out of the trade if the candle changes colour.

  My first trade today at 08.19

  Using the 30 second charts there are enough trades to keep you from getting bored or falling asleep!

  Hope this helps, questions welcome!

   

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  GraHal, Nicolas

  

  RAAAMMY

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  05/11/2017 at 10:57 AM #35184
  Nicolas

  Thank you. So your chart should look like this example? About exit on Heikin Ashi color changing, do you wait the bar closure or do you close the trade immediately during the candlestick formation? So you don’t use stoploss, right?

  If it’s relevant, I might code a complete grey box to synthesis the whole conditions for orders.

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  GraHal

  

  Nicolas

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  05/11/2017 at 11:41 AM #35194
  RAAAMMY

  Hi Nicolas,

  Yes the charts look as I have them.

  I wait for the candle to close (watch the 30 second countdown) and be ready to enter/exit.

  I have my target fixed at +5 pips and my stop set at -5 pips.

  I don’t wait to get stopped out, if I see a candle has changed colour I close the trade.

  Sometimes it will turn round and go in my direction, for the +5 pips but by closing the trade on the change of colour means my losses are quite small (-3/4 pips including the spread).

  I begin by watching my charts from the 7.00 open, and if price moves up and down in a nice cycle formation I might take a trade before 08.00 or the first trade after 08.00.

  If by 08.00 price is flat or erratic, I will wait for the first trade to complete successfully and then take the next trade.  If that first trade fails it hasn’t cost me anything and I will wait until there is a winning trade.  The reason behind this is that if the first trade fails, why should the second trade be successful?

  Hope this helps.

  

  RAAAMMY

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  05/11/2017 at 12:16 PM #35196
  Nicolas

  About the Awesome oscillator, how do you use it in your trading decisions? Histogram>0, trend is bullish and vice-versa?

  

  Nicolas

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  05/11/2017 at 1:17 PM #35209
  RAAAMMY

  Hi Nicholas,

  Yes, above the zero line bullish, and below bearish.

  I could live without the Awesome Oscillator as it practically does the same job as the EMA.

  

  RAAAMMY

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  06/01/2017 at 7:30 AM #37183
  RAAAMMY

  Hi Nicholas,

  The AFL Winner indicator.

  In addition to the indicator, is it possible to have an Up/Down arrow above/below the price in the same colour as the indicator, when the indicator changes colour?

  All the best.

  RAAAMMY

  

  RAAAMMY

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  06/01/2017 at 9:30 AM #37193
  Nicolas

  Yes of course, but be prepared to get a lot of arrows painting your screen! 😯

  

  Nicolas

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  06/01/2017 at 9:56 AM #37200
  RAAAMMY

  Great, thanks.

  Let me know when it is available.

  All the best.

   

  RAAAMMY

  

  RAAAMMY

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  06/06/2017 at 1:46 PM #37625
  Nicolas

  Please find it attached and an example of how it looks on a price chart. It reminds me that I said I planned to make an indicator that synthesize your strategy.. Do you have any other requirements or modifications since the last posts we exchanged together?

  

  Nicolas

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  06/06/2017 at 7:20 PM #37657
  RAAAMMY

  Hi Nicholas,

  Great, thank you so much for all your help.

   

  All the best.

  

  RAAAMMY

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  11/14/2017 at 5:41 PM #52758
  Jessar

  Hello RAAMMY Are you still successful in your strategy, and have you already automated your strategy to do better backtesting?

  

  Jessar

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  05/30/2020 at 10:33 PM #133921
  Newbie

  Fantastic work on this. However, I have a question: Would it be possible to adapt this so it draws only on the last 200 candles?

   

  Thanks to anyone who can help

  

  Newbie

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  05/31/2020 at 4:02 PM #133966
  Nicolas

  @newbie

  Just add this line at the top of the code:

  defparam calculateonlastbars=200

  1	defparam calculateonlastbars=200

   

  

  Nicolas

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