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Simple Correlation Indicator System

  • #461
  • Oct 14, 2016 2:50am Oct 14, 2016 2:50am
Quoting teapeak
{image} Hi Kirklea, could you please check this message as I guess that it should be Short exit and no Long, as Short entry before. Please advise. Thanks. Tea
 
Hey buddy i am away for a few hours but will check it out asap and reply. Cheers. 
Trade to Live - Don't Live to Trade
  • #462
  • Oct 14, 2016 3:56am Oct 14, 2016 3:56am
Quoting mades
{quote} This is true for all oscillators. The true repainting happens after a candle close and some indicators do just that (for example indicators which are trying to pick tops and bottoms). I doubt there is a scalping strategy which would work 24/5, each session (asia, europe, us) behaves differently. It's better to optimize the strategy for the time you trade. Also i doubt there is any way to filter out "ranging" behavior for scalping strategies, because on 1M scale, ranging means moving 5-7 pips up and down. And that is usually not enough to...

I agree with you Mades. Nice observation.
Last sentence is worth many hours of research. And is really valuable advice.
Has any one also considered the next two candles following a high volume candle. This might be worth a look as well.
  • #463
  • Oct 14, 2016 3:59am Oct 14, 2016 3:59am
hi this currency correlation indicator looks interesting where can you source it.

regards

gordon
  • #464
  • Oct 14, 2016 4:10am Oct 14, 2016 4:10am
Took this signal and banked 5 pips as a quick scalp.
Attached Image (click to enlarge)
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  • #465
  • Oct 14, 2016 4:28am Oct 14, 2016 4:28am
Quoting teapeak
Took this signal and banked 5 pips as a quick scalp. {image}
 
Nice job! Slow and steady mate. What settings are you using for the Entry SDV value? I am trying to figure out a decent way of getting an earlier signal in combination with the change in colour on the Winner along with the change in the HA 3 period. Considering price has broken above that 233 HA smoothed and did a quick retrace, you could have your stop just below the 233HA and ride it for longer.
 
But these are all considerations after the fact...it becomes a different story when the story is already written...
 
Nice job though and thanks for posting your result. 
Trade to Live - Don't Live to Trade
  • #466
  • Oct 14, 2016 5:26am Oct 14, 2016 5:26am
Quoting gt pipper
hi this currency correlation indicator looks interesting where can you source it. regards gordon
Hi Gordon, the original mq4 file is just code written by Metatrader. I have had it changed dramatically since that though...I wanted better alert functionality initially and then I became obsessed.

I have chosen to withhold the mq4 files for now, for reasons I have covered here in the thread a few time over the past few days. There may well come a time when I decide to release this to the forum but for now I am trying to have people focus on learning a strategy / indicator and sticking to it rather than make the mistake of jumping from system to system. Changing the indicator too much would be counter-productive for what I am trying to achieve with this thread.

I hope you spend some time here and find something of interest
Trade to Live - Don't Live to Trade
  • #467
  • Oct 14, 2016 5:49am Oct 14, 2016 5:49am
Quoting teapeak
{image} Hi Kirklea, could you please check this message as I guess that it should be Short exit and no Long, as Short entry before. Please advise. Thanks. Tea
Hi Tea, it is difficult to advise without a screenshot to see what happened. Can you take a full screen shot of the whole story please? Hopefully I will be able to help you then.
Trade to Live - Don't Live to Trade
  • #468
  • Oct 14, 2016 7:55am Oct 14, 2016 7:55am
Quoting kirkleaforex
{quote} Â Nice job! Slow and steady mate. What settings are you using for the Entry SDV value? I am trying to figure out a decent way of getting an earlier signal in combination with the change in colour on the Winner along with the change in the HA 3 period. Considering price has broken above that 233 HA smoothed and did a quick retrace, you could have your stop just below the 233HA and ride it for longer. Â But these are all considerations after the fact...it becomes a different story when the story is already written... Â Nice job though and...
Thanks mate, just trying default settings at the beginning after I will be more familiar with this new concept. SL was just 10 pips and yes I can ride it longer with HA. Will try longer trades later....and post here some more results. Good job and thanks for this nice system.
  • #469
  • Oct 14, 2016 8:00am Oct 14, 2016 8:00am
Quoting kirkleaforex
{quote} Hi Tea, it is difficult to advise without a screenshot to see what happened. Can you take a full screen shot of the whole story please? Hopefully I will be able to help you then.
see attached picture as an example
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  • #470
  • Oct 14, 2016 9:55am Oct 14, 2016 9:55am
one more quick 5 pips scalp
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  • #471
  • Oct 14, 2016 9:59am Oct 14, 2016 9:59am
one more on EURUSD also 5 pips
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  • #472
  • Oct 14, 2016 10:01am Oct 14, 2016 10:01am
one more on USDJPY also quick 5 pips
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  • #473
  • Oct 14, 2016 10:01am Oct 14, 2016 10:01am
Quoting teapeak
one more on EURUSD also 5 pips {image}
Mind you can share w/ me your indis??

Thanks!
  • #474
  • Oct 14, 2016 10:10am Oct 14, 2016 10:10am
and the last one USDCHF also 5 pips a bit riskier as took at the border of the HA 233. I am done for today have a nice weekend and again thanks to Kirklea for this wonderful system.
Attached Image (click to enlarge)
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  • #475
  • Oct 14, 2016 10:11am Oct 14, 2016 10:11am
Quoting hammadshahir
{quote} Mind you can share w/ me your indis?? Thanks!
me? why this is Kirkleas system and he shared all indies here. ad if you mean this in the middle this is for testing purposes I can share but cant see any advantage to have it.
  • #476
  • Oct 14, 2016 10:44am Oct 14, 2016 10:44am
Quoting teapeak
and the last one USDCHF also 5 pips a bit riskier as took at the border of the HA 233. I am done for today have a nice weekend and again thanks to Kirklea for this wonderful system. {image}
Tea you are killing it...nice work. Takes a while to get confident with any system so in time you will trust the signals more and perhaps even find better entries, and let the winners run longer. Nice work mate...have a great weekend and we will catch up next week.

Oh, and about that other matter you asked about, there is a time difference in the alerts - first alert was at 14:36hrs which is showing as a short entry, second was an exit alert at 14:51hrs which was an exit for a buy.

These signals happened an hour before the signal you are showing in your picture at 15:37hrs so I am sorry but I don't understand the question you are asking. Can you break it down further for me?

For me, I am not using the exit alert in the indicator anymore, and am using other exit methods. I would suggest you turn off the exit alert in the settings dialogue box and just concentrate on timing your entries, and trying to go for a minimum number of pips, say, 5 to 10, several times a day.
Trade to Live - Don't Live to Trade
  • #477
  • Oct 14, 2016 10:58am Oct 14, 2016 10:58am
Quoting kirkleaforex
{quote} Tea you are killing it...nice work. Takes a while to get confident with any system so in time you will trust the signals more and perhaps even find better entries, and let the winners run longer. Nice work mate...have a great weekend and we will catch up next week. Oh, and about that other matter you asked about, there is a time difference in the alerts - first alert was at 14:36hrs which is showing as a short entry, second was an exit alert at 14:51hrs which was an exit for a buy. These signals happened an hour before the signal you are...
Thanks.
regarding this>These signals happened an hour before the signal you are showing in your picture at 15:37hrs so I am sorry but I don't understand the question you are asking. Can you break it down further for me?
for me now clear as didn't recognized that this exit was for previous signal. Ok going to turn off this alert now.
And yes you are right that first needs to concentrate to have better entries and more trust to longer exits.. Thanks again.
  • #478
  • Oct 14, 2016 11:35am Oct 14, 2016 11:35am
I did not resist one more for 5 pips and now for sure end off. chears
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  • #479
  • Oct 14, 2016 11:36am Oct 14, 2016 11:36am
@kirkleaforex First off, I'd just like to say that the strategy you've released on here is very great! You also seem like a very nice person helping out and giving tips to everyone asking questions in the thread. Thumbs up for that!

Now, to the point. I have a question regarding the spread when scalping. The reason I decided to ask the following question was due to the last posts by @teapeak showcasing his quick scalps using the strategy. I'm current using a broker by the name of "Pepperstone" and at their webpage it says the following: "0.0 Ultra Low Spread". So I just yesterday opened up a demo account with them and made a couple of trades in a hope for low spread.

That wasn't the case though. The spread is usually between 15 - 25 and usually depends on which market I'm trading with (I trade in the currencies). I have a feeling I'm missing something. Is the spread supposed to be that high? Or is there any way to make it lower?

Now as I said earlier, I'm not experienced in this, so that might actually be a good spread. It still feels a little high though.
I'd love if someone could quickly explain this to me.

Thanks!
  • #480
  • Oct 14, 2016 11:49am Oct 14, 2016 11:49am
Quoting teapeak
and the last one USDCHF also 5 pips a bit riskier as took at the border of the HA 233. I am done for today have a nice weekend and again thanks to Kirklea for this wonderful system. {image}
Tea,
Is the signal that serves as the final trigger for your most recent trades that you posted - is it the Winner crossing the 50 level?
Thanks
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