source : http://www.pipsmaker.comSKYDART system trading
SKYDART system trading opening a position
- Watch the bar chart 30M
- When the signal approaches, switch to 15M and carefully open the position
- Next return to 30M
- FX Sniper’s lines cross
- CCI raises above zero and the dot on line LSMA is green
- Waddah Attar – the green line of the histogram crosses the yellow signal line from below, the yellow line is above the blue broken line; even better if the yellow line is rising.
Closing a position
- FX Sniper’s lines cross and generate a "sell" signal, or both FX Sniper’s lines cross CCI-34.
- The green line of the histogram hids underneath the yellow signal line
The "sell" signal
- everything is reversed compared to the "buy" signal. But Waddah Attar – the red line of the histogram crosses the yellow signal line, the yellow line is above the blue broken line; even better if the yellow line is rising
Reversal or aggressive buy/sell signal
- The signal occurs when after a significant activity there is a sudden reversal
- FX Sniper’s lines cross each other, or both lines cross CCI34 without crossing each other and generate a "buy" signal
- The green or red histogram Waddah Attar HIDES BENEATH the gold signal line – observe the first bar (candle) at which the histogram will hide beneath the signal line and change colour.
- The colour of LSMA dot is consistent with the position being opened (green for long, red for short).
Any question ? how to position the stop loss ? how to position the take profit. These things depend on individual risk acceptance thresholds and individual greed. Happy nice trading with SKYDART system trading.SMA indicator
SMA indicator with following setup :SMA 2400 Close Represent 4Hr Timeframe Res/Sup
SMA 600 Close Represent 1Hr Timeframe Res/Sup
SMA 300 Close Represent 30Min Timeframe Res/Sup
SMA 150 Close Represent 15Min Timeframe Res/Sup
SMA 50 Close Represent 5Min Timeframe Res/Sup
SMA 5 Close Represent Current direction.
observe price patern.
in addition you can use Daily pivotes points. and 4Hr pivote points.
Observe how price react after touching SMA.
Use SMA as suport and resistance... Same setup works with 1Min Chart.
Here is chart of Gbp/usd. observe how price move between sma.
In addition use Daily pivote and 4Hr pivotes. Daily pivote gives potential support/resistance.4hr pivotes gives idea what is going on within 4Hr. important thing is catching price pattern pattern and where it is happening. Please try trading with SMA indicator
STEINITZ SYSTEM
1a Input setting are: 2-6-3-2
1b Colors are: Red, blue, red, blue.
1c. Width is: 1,1,3,3
1d. Style is: 0,0,0,0
2. 4 TF HAS Bar
2a Input settings are: 2-6-3-2... 1.0
2b Colors are: Red, blue, red, blue, red, blue, red, blue
2c Width is: 0,0,0,0,0,0,0,0
2d Style is: 0,0,0,0,0,0,0,0
2e Level style is: Silver
3. 4 TF HAS Bar2
3a Input settings are: 2-6-3-2-0 Blue,Red, Black
3b Colors are: Blue, red, blue, red, blue, red, blue, red
3c Width is: 0,0,0,0,0,0,0,0
3d Style is: 0,0,0,0,0,0,0,0
3e Level style is: Silver
You need to set your price chart on "Line charts" (candlesticks will work too) but I prefer line charts since we are dealing with closing prices only and candles with clutter up the chart.
So now you have your charts set-up with the three (3) indicators and you have your pricing set to "Line charts". Let's continue......
1. On the top of the chart you will see the “HAS” indicator. There are only two colors that you will see red or blue. Red for down and blue for up. There is also another candle that you will see from time to time. It is a red body with a blue wick or blue body with a red wick. I’ll go into that later.
2. On the bottom of the chart you will see the “4TF HAS” indicator display four timeframes off to the right side of the indicator. If your platform is set to 5M you will see 5M, 15M, 30M & 1Hr. You can also confirm the TF's just over the indicator itself which helps if you can't see the right side of your screen for whatever reason.
3. On the bottom of the chart we also have the “4TF HAS Bar2” which overlaps the other “4TF HAS Bar” indicator to enable a mixed color bar (bar with a dot in the middle) to display when they occur naturally. Don’t worry we will discuss that later. Thanks go out to “Mouteki” for his help with a modification to this indicator which he named the “4TF HAS Bar2”.
THE RULES FOR ENTERING
Let’s take the 5M TF as our example.
1. Look at the lowest row which is the 5M TF. If the bar directly above the 5M bar is also blue you take the trade long. The best time to enter on ANY TF is just after you see an opposite colored bar on as many TF’s as possible. In this example it’s best to enter after you have seen some red bars on the lowest TF. If you saw red bars on all 4 TF’s just prior to entering long this makes for a better trade. The reason for this is you want to enter at the beginning of a new move or time cycle. If you entered on a blue/blue candles (5M/15M) just after seeing just one row of red candles on the 5M TF, it is possible and highly likely that you are not taking the beginning of a New 5M trend. Either way the entry is ok to take. I mention this only to enlighten you as to what makes for a better entry which will produce more PIPS since you will have gotten in early.
2a. You will see some more red 5M bars, then as the market recovers you will get into blue bars once again or
2b. You will see more red 5M bars and then the 15M row will display it’s first red bar.
In the case of 2a you just continue watching and do nothing. In the case of 2b you wait for the close of the 15M bar and then switch the TF of the MT4 platform to the next higher one. In this case that would be the 15M. If after switching TF’s to the 15M you end up with a red bar on the lowest TF (15M) and a blue bar on the 30M TF you are safe to continue the trade. Remember we are always talking about the bar directly on top of the other bar.
3. If after switching TF’s to the 15M you end up with a red bar on the lowest TF (15M) and red bar on the 30M TF you exit immediately. Remember we always perform ALL functions with a close of bar.
4. So now assume we are clear to stay in on this trade. So are job is to monitor the 15M/30M TF. Again we stay in the trade as long as the 15M stays blue. If it turns red you perform the same function as before. Do nothing if the 15M is red and the 30M is blue. If the 15M and the 30M are both red get out immediately (at the close).
5. Now this can go on for a long time. I will be attaching a trade on the forum that started with the 5M TF and continued to the 1hr/4hr. I just looked at the trade I will be posting that follows this word doc and I would still be in. Lot’s of PIPS were made by staying in and not exiting until the rules tell you to do so.
EXITS
1. I have always said that exits are the hardest part to any trading method. Not just this one but any method. The reason is it is hard to predict the beginning of a trend or the end of a trend. You can see clearly when you are somewhere in the middle.
2. I have two schools of thought that can be used mechanically. One exit is risky and one is less riskier. With risk comes the potential to adjust how much profit you are trying to achieve. I will let the reader decide how much risk/reward they feel they want to manage.
3. When I talk about risk I am referring to how much potential profit one is willing to give back as a trade off for staying in the trade longer.
4. Exit rule #1 (bigger risk)
4a Exit on ANY TF when the lowest and next higher TF both show the opposite color from the original trade. When long you would exit if the lowest TF and next higher TF both are red.
It should go without saying that you reverse whatever I am saying if you take the opposite trade direction.
5. Exit rule #2 (less riskier)
5a Exit on ANY TF when the lowest TF bar changes to an opposite color from the original trade. When long you would exit if the lowest TF bar is red ignoring the upper TF’s.
6. Keep in mind that if you exit on this less riskier method you can always get back in later after the lowest TF bar changes back to the original color based off of the original trade. I say this because you might have exited prematurely to avoid waiting too long for the riskier next higher TF bar to turn red. I will go into another technique that will have it’s own thread. It will be based on what I have touched on here.
7. One of the reasons I have dedicated my time to this thread is for you the reader to help find ways to manage the exits to optimize the ability to keep those hard earned PIPS. I believe we can come up with a filter or something based on resistance or support that can help identify the tops and bottoms more efficiently.
EPILOGUE
That about sums up the strategy that you can use to make more money then you could have imagined. This can be your personal ATM machine. If you like what you have read I would appreciate any and all feedback good or bad. Stay tuned for my next word doc about a style of trading that let’s you enter at anytime once a trend has already been established.
This about Don Steinitz, founder of STEINITZ SYSTEM
interest “Blackjack”. I was able to make a very good living by counting cards and other methods to obtain an edge over the casinos. Yes I became well know in Nevada as expected but was never arrested or back roomed which to this day escapes me how I was so fortunate. I was also able to take advantage of tilted roulette wheels, sloppy dealers, slot machines that had some minor faults, biased bingo balls and edges in horseracing etc.
I left the game after 23 years to play “No limit” poker since the edge in that game is large enough for the skillful player to make a nice income as well. I also get treated just the opposite as a professional blackjack player who is always looking behind his back and constantly getting escorted out of casinos. I have studied the stock and forex market for about 8 years now and put in about 11,000 hours in front of my computer looking at charts.
This market is by far the toughest game to beat and I am determined to not give up until I find an edge that I can exploit to my advantage. So why would I share this information with you? Because I haven’t been successful prior to finding “Forex Factory” and this indicator. This website is dedicated to serious traders and I was able to stumble on what I believe is an indicator that presents a lot of potential. In the 8 years I have never seen such an accurate way to asses market movements and the ability to capitalize on the beginning of a trend.
Than's a lot :
1. Don Steinitz
2. http://www.pipsmaker.com
Ichimoku Manual
- Tenkan-sen is the average value of the price for the first time interval calculated as sum of maximum and minimum for this period of time devided by 2;
- Kijun-sen is the average value of the price for the second time interval;
- Senkou Span A is the middle of interval between two above mentioned lines (Tenkan-sen and Kijun-sen) shifted onward on the value of the second time interval;
- Senkou Span B is the average value of the price for the third time interval shifted onward on the value of the second time interval;
- Chinkou Span is the closing price of the current candle shifted back on the value of the second time interval.
The space between Senkou lines is the cloud.
And we have 3 cases:
- if the price is inside the cloud (it means it is between Senkou lines) we have non trading market. In other words, we are not trading inside the cloud.
And Senkou lines are the support and resistance lines in this case.
- if the price is above the cloud the first Senkou line is the first support, and the second one is the second support respectively.
- if the price is below the cloud the first line (first from the price line) is the first resistance and the second one is the second resistance.
If Chinkou Span line is crossing the price curve from below to upward we have the signal to buy, and from above to below - signal to sell.
- if the price is above Kijun-sen line we have uptrend (most probably);
- if the price curve is crossing the Kijun-sen line the trend will be reversed (most probably as well).
- from up to down - sell signal;
- from down to up - buy signal.
Besides, Tenkan-sen is used as the reversed line to estimate the trend.
In other words the Ishimoru indicator is of the complex trading system.
Because some people say: "the settings of the indicator (9, 26, 52) are valid for the weekly charts only; and not for the forex; this indicator will not work on an other timeframes with the default settings; so it is necessary to have different settings for the different timeframes.
On the next few posts we will describe more about it but I want to say that if you are trading using Ishimoru indicator you will have 1 trade for 2 weeks on D1 or 1 trade per 2 days in intra-day trading. And most probably you will be in profit in 4 of 5 cases (it means 75%).
Besides we mentioned about Tenkan-sen line is crossing Kijun-sen lines crossing: Tenkan-sen is crossing Kijun-sen from down to up - signal to buy (Gold Cross), sell signal is called as Dead Cross.
If the price curve crossed the Senkou Span B line (price candle should be closed before the line) we may open the order on the direction of the trend. But only in the case if Tenkan-sen line is not on horizontal level.
If Tenkan-sen line is on horizontal level - we have afloat market. We are not trading in this case.
And if we have Tenkan-sen, Kijun-sen and Senkou Span B lines are going in horizontal way above each other - it is reversed point. It means the price will change the direction soon.
If the price is inside the cloud together with horizontal Tenkan-sen - afloat market. Most of us will not trade in this case but some people are trying to trade inside the cloude understanding the cloud as the channel. It is possible only if the channel (cloud) is big enough.
If we enter (open the order) on the direction to the cloud so most probably we will have 2 levels of T/P which are the Senkou Span A and Senkou Span B lines. S/L (stop loss levels) we will estimate using some other indicators.
If we are trading on the direction from the cloud the Senkou Span A and Senkou Span B lines will be stop loss levels (together with Kijun-sen line). In this case the profit level (T/P) will be in the place where Tenkan-sen line is changing the direction, or in some other place according to our evaluation.
It is necessary to say that Ishimoku indicator is using in candlestick charts and we are not trading in case of contradiction with candle analysis.
- the price curve is crossing the Senkou Span B line breaking this resistance line;
- Chinkou Span line signals;
- 3 line signal (Tenkan-sen, Kijun-sen and Senkou Span B lines are going in horizontal way above each other);
- gold and dead crosses.
not sure of timeframe for this method either and if they use that along with other signals from ichim
But D1 and H1 are more popular timeframe.
Ok. Thus how to estimate the stop loss and profit level? It is very important when we are working with this indicator as with a system to have 1 or 2 profit levels and one stop level.
There are 4 ways to estimate S/L levels.
First one is the technical method for S/L. It is for H1 timeframe only:
15 - 30 p on eur;
20 - 30 on gbp;
35 - 50 on jpy;
30 - 80 on chf.
In this case we may estimate S/L using the cloud (behind the cloud) and something else (some strong support level of the indicator for example). And we will have S/L as big as 200 p (on W1) and 100-150 (on D1).
If we want to estimate S/L by the second method on H1 timeframe, we probably will have 40 - 50 on eur, 50 - 60 on gbp, 70 - 100 on chf and 60 - 90 on jpy.
Probability to close the positions on stop loss is not less than:
- 40% if we are follow the trend on H1 timeframe;
- 80% if we are playing against the trend on H1;
- 50 or 60% in the flat market.
we estimate S/L level using the cloud only (outside the cloud).
All the signals from this indicator are faint in case of H1 unconfirmed and M30 unconfirmed. All the signals from any other timeframes are super faint.
If you are playing with this indicator using 20,000 deposit having the rule not to open the order if S/L level is more than 2 or 5% of your deposit (daily) you are not risky man.
But as we stated above Ishimoku indicator is having the 4 signals which are not equivalent on strength. In most cases the first signal will be most faint and further signals will be more stronger. But the most stronger signal will be the last one. The probability of the signals to be real ones defers in 15 - 20 % from each other.
Thus the first signal is the most profitable but with the great probability to have S/L (for the order to be closed on S/L without profit). More risky.
Some people using 0.1 lot to open the order on the first signal and 0.4 for the most stronger signal.
There are other settings:
- 6-12-24 (H1);
- 72-144-288 (M5);
- 12-24-120
- 12-60-120.
But it was seminar in Moscow in 2002 about Ishimoku and MACD and some people suggested to use 9; 26; 52 for D1 and 120-240-480 for H1 only.
But as a conslusion I may say the following settings:
M5 72-144-288
H1 12-24-120 or 120-240-480
D1 5-10-20 or 9-26-52
W1 9-26-52
But the most profitable and stable results were using the 9-26-52 on D1 and 120-240-480 on H1.
lowphat, may be 8-22-44?
Just 8 instead of your 7.
May be.
Because as I know that:
- not everybody understands russian language and
- there is the problem with communication between the people from the different countries (russians do not want to speak english sometimes and most of us do not understand russian language, or japaniese language for example).
So I just collected.
It is not the strict rule how to use ishimoku or some scientific report.
It is the information only to have everything in one place.
Trading using Ishimoku is not simple way. I know that there are many trading schools to teach the students how to trade using this great indicator.
Thus I posted very preliminary information.
"Tenkan" means conversion.
"Kijun" means average or standerd.
"Senkou" means faster, and "chinkou" means later.
Some traders say he only uses Ichimoku, dosen't need other indicator.
Ichimoku Charts by Ken Muranaka
So Ichimoku is the Japanese tradition. Strongly recommended.
I know that this indicator was not developed for the forex. It was adapted to the forex market. Muram, if you are able to get some information in Japanese please share with us (in English). Simple description will be enough.
It this line is going to uptrend crossing the price (11 hours ago or some hours ago - does not matter) so we have buy signal. If we look at this indicator we will understand that this line may cross the price. Not current price. Just a price which was 11 hours ago for example.
This Chinkou span line is crossing the price curved line. Not the current price.
And about the settings. If I change the Kijun-sen from 26 to 1 for example I will have the following (see the image). Chinkou span line is inwhite color.
It helps a lot.
Future possible uptrend.Tenkan-sen (red line) was crossed Kijun_sen (blue line) showing uptrend in the near future. We got this buy signal on the full closed bar on D1 timeframe. But this first signal is very feeble. We will have more strognger signal if Chinkou Span line will go up crossing the price. Chinkou Span line (white line) came a short way off the price ready to go up. But did not cross the price yet.
Future possible downtrend. On the other hand, according to the Ichimoku chart the EURUSD is still on downtrend now. We have Senkou Span B line on the way to the price if uptrend (Senkou Span B line is the border line of the cloud). This Senkou Span B line is the nearest resistance line. Besides the price is located below the cloud.
Trend Reversal. According to the cloud we exect uptrend to be established in 15th of March. I mean finally established uptrend. But this situation may be changed.
Flat. Tenkan-sen, Kijun_sen and Senkou Span B lines are on horizontal way. Flat. But the situation may be changed very quickly because Chinkou Span line is not fully following Tenkan-sen, Kijun_sen and Senkou Span B lines.
So, irrespective of the buy signal the situation is not very clear and probably any news will affect on the price movement now.
Trend Catching System
This is very simple trading system that anyone can easily master after a little practice on a demo account for some time. The system has a high accuracy rate and TP can be hit most of the time. This system aims at catching the pips when a trend is in the play. The indicators will help you spot these cool periods. Here is a screenshot of the system.
How to setup your charts
1. Compile the BBANDS indicator place it in your experts/indicator folder
2. Use the template and place in in the metatrader/templates folder
3. Apply the template on your chart.
Since the system uses a lot of moving averages, placing them manually can detailing them here can be confusing, so using the template provided here is the best solution. You can always study the setup from your charts directly and investigate into the moving averages and their individidual values. The setup is using 10 moving averages in all.
When to BUY
* When the BBANDS indicator turns BLUE
* When the Blue moving averages cross and go upwards. The two thick blue moving averages need to be some distance from each other and not stuck together. This indicator that there is momentum in the UP move.
* When the Blue Moving averages are above the WHITE CHANNEL
* When the MACD histogram is ABOVE the ZERO line and also ABOVE the RED line.
These are the steps that you need to follow closely to identify a BUY setup. If you stick to these rules, you will end up with green pips most of the times. The major problem occurs when you try to burn one of the rules.
The Takeprofit and Stoploss is at your own discretion. These values depends on the charts on which you are working on. For example on the H1 chart, you should aim at a lower TP( e.g 60pips) and on the H4, you can aim at a higher TP(e.g 100pips+)
Refer to the screenshot above for the buy trading rules.
When to SELL
You open a SELL position exactly when the opposite of the Buy setup occurs which are as follows:
* When the BBANDS indicator turns RED
* When the Blue moving averages cross and go downwards. The two thick blue moving averages need to be some distance from each other and not stuck together. This indicator that there is momentum in the DOWN move.
* When the Blue Moving averages are below the WHITE CHANNEL
* When the MACD histogram is BELOW the ZERO line and also BELOW the RED line.
Refer to the screenshot above in order to get a clear idea on the SELL signal generated by this system. The same rules for the Takeprofit and Stoploss levels apply to the sell as well.
When not to trade
1. You should not be taking any trades when all these rules have not been met.
2. You should not be trading when the Blue moving averages are stuck to one another, this shows that the market is ranging and this system will not make money in ranging markets.
When to CLOSE your trade
Your trades should be closed automatically if you have takeprofit and stoploss in place. However, if you are available to monitor your trades, you can wait for an opposite signal to occur then you close your trade to open the opposite one. This make you catch more pips than in a fixed takeprofit setup. Trailing Stop can also be good, however it should not be too tight as you will be out of the good trades too soon.
Final Words
This system is a neat little system with clear straightforward rules. If you follow them closely, I do not see any reason why you will not end up with a climbing equity curve. However, you will need a few weeks of practice in order to understand how the system acts and reacts to the market changes and get acquainted to it. I hope that you will have a good and enjoyable experience with this trading system. Wishing you lots of luck in your trading. Also, would like to hear from you and benefit from your experience.
Source : http://www.pipsmaker.com
EMA 30
Indicators:EMA (30), QQE (5), Gann (30), 2 EMA Crossover (13 & 21), 3 EMA Crossover (5,13,21).
Additional tools:
Fibonacci retracement & trendlines.
Buy condition:
13 EMA above 21 EMA, QQE above 50 level.
Entry at 30 EMA (EMA changes every bar, so entry point needs to be updated each bar)
Initial SL level is the 2 EMA crossover arrow or just simply the support/previous low.
Target 121 pips ;P
Sell condition:
The opposite.
