Advanced system #5 (Trend Lines Breakout System)

Post your new strategies, discoveries or just ideas for development

Re: Advanced system #5 (Trend Lines Breakout System)

Postby cpr » Fri Apr 02, 2010 7:54 pm

Thank you for the response.

I believe we can see the following updates on version 5.

1. Plotting two vertical lines on the chart to represent the working zone (5 candles, starting from 00:00 of Newyork time)
3. The first vertical line, indicating the zone start ,will come at 00:01 AM
4. The second vertical line ,indicating the zone end, will come at 04:01 AM
5. The above two lines will go out of the chart as the day ends, which is Newyork time - 5.01 PM
6. Based on user's brokers time, user will have the ability to set these time zones on the indicator


7. Drawing swing high and swing lows between the working zone and outside of the zone
A. Look for the first swing high in the working zone
B. Look for the 2nd swing higher outside of the working zone which is higher than working zone's swing high and connect them, making a downtrend line
C. if no swing high is found in the working zone, there will NOT be any downtrend line

D. Look for the first swing low in the working zone
E. Look for the 2nd swing lower outside of the working zone which is lower than working zone's swing low and connect them, making a upward line
F. if no swing low is found in the working zone, there will NOT be any upward line


Please correct me if I am wrong.
cpr
 
Posts: 77
Joined: Fri Jul 10, 2009 11:58 pm

Re: Advanced system #5 (Trend Lines Breakout System)

Postby mohdashraf » Sun Apr 04, 2010 12:38 am

i really dont undrstnd 1 of the concept...that is,when trendline break any candle,we should buy or sell?im totally new in this,anybdy cn help me?if im not mistaken,if uptrendline hit the candle,we should sell and if downtrendline hit the candle,we should buy?am i correct?and anothr question,my broker gmt+0...so what time should i use if 0am to 4am est?is it at 5am gmt to 9am gmt?pls answer...any answer would be much appreciated...thx in advance...
mohdashraf
 
Posts: 2
Joined: Sun Apr 04, 2010 12:00 am

Re: Advanced system #5 (Trend Lines Breakout System)

Postby cpr » Sun Apr 04, 2010 2:39 am

mohdashraf wrote:i really dont undrstnd 1 of the concept...that is,when trendline break any candle,we should buy or sell?im totally new in this,anybdy cn help me?if im not mistaken,if uptrendline hit the candle,we should sell and if downtrendline hit the candle,we should buy?am i correct?and anothr question,my broker gmt+0...so what time should i use if 0am to 4am est?is it at 5am gmt to 9am gmt?pls answer...any answer would be much appreciated...thx in advance...


Original strategy rules in regards to buy and sell are here :

http://forex-strategies-revealed.com/advanced/trendlines-breakout

if your's is GMT + 0, I believe you should use 5 am to 9 am.
cpr
 
Posts: 77
Joined: Fri Jul 10, 2009 11:58 pm

Re: Advanced system #5 (Trend Lines Breakout System)

Postby mohdashraf » Sun Apr 04, 2010 3:24 am

dear cpr...thanks for ur info...but im still dont understand it...about the time zone,im ok,but for the trendline...am i supposed to buy or sell when the candle hit by trendline...just give me easy answer plsss...

up trendline hit candle=???

downtrendline hit candle=???

p/s:im totally newbies in forex,hehehe... :cry: :cry: :cry:
mohdashraf
 
Posts: 2
Joined: Sun Apr 04, 2010 12:00 am

Re: Advanced system #5 (Trend Lines Breakout System)

Postby cpr » Sun Apr 04, 2010 11:19 am

mohdashraf wrote:dear cpr...thanks for ur info...but im still dont understand it...about the time zone,im ok,but for the trendline...am i supposed to buy or sell when the candle hit by trendline...just give me easy answer plsss...

up trendline hit candle=???

downtrendline hit candle=???

p/s:im totally newbies in forex,hehehe... :cry: :cry: :cry:


Well, I still recommend you to look at the original thread to understand basic rules about when to buy or sell..

When the price breaks upward trendline - you will sell and the SL is the candle high. This is the cadle which broke through the trendline.
When the price breaks downward trendline - you will buy and the SL is the candle low. This is the cadle which broke through the trendline

Time is 5 am to 9m GMT..

Please read the original thread again to get some basic understanding.. I am happy to answer, if I can.
http://forex-strategies-revealed.com/advanced/trendlines-breakout
cpr
 
Posts: 77
Joined: Fri Jul 10, 2009 11:58 pm

Re: Advanced system #5 (Trend Lines Breakout System)

Postby Matt » Wed Apr 07, 2010 3:28 am

Hi Edward

As a newcomer here I'd first like to say well done on the web site, there's some interesting ideas here.

About Advanced #5; you previously posted that you were evaluating an addition/enhancement to the rules and that was to consider the three hours prior to midnight for the swing high/low, I wondered had you reached any conclusions about that? In relation to that are you waiting for the five hourlies to close before considering the pre midnight candles?

Thanks, and congrats again on the good work.
Matt
Matt
 
Posts: 1
Joined: Wed Apr 07, 2010 3:01 am

Re: Advanced system #5 (Trend Lines Breakout System)

Postby Derugash » Mon Jun 07, 2010 7:37 pm

Hi there, this is my first post to the forum. I've recently developed an interest in trading in general and came across this website (and this specific strategy) through a google search when I was looking for info on forex.
After coming to grips with this system (or so I thought), I did some tests on older data.
The results were less than pretty. I've been trying to figure out if I'm doing something wrong, but I don't see it. Perhaps someone could shed some light on this?
I've included an image of my little charting test that should explain the trouble I'm having.
Attachments
chart.jpg
Derugash
 
Posts: 1
Joined: Mon Jun 07, 2010 7:28 pm

Re: Advanced system #5 (Trend Lines Breakout System)

Postby Traveller » Fri Jun 25, 2010 1:32 pm

I've been trying to figure out if I'm doing something wrong, but I don't see it. Perhaps someone could shed some light on this?


I use it the same way, I mean the approach. Your charts and lines seem fine, I hope the timing was correct, as you said. The streak of losing trades is possible.
Also could it be that your Pivots are different?

I would aslo may be look at addtional filters for trends, like SMAs etc. Especially when I have 2 losing trades in 2 days in a row.
Still like the strategy though. It's flexible enough for me.
User avatar
Traveller
 
Posts: 48
Joined: Mon Oct 19, 2009 7:29 am

Re: Advanced system #5 (Trend Lines Breakout System)

Postby Traveller » Fri Jun 25, 2010 1:35 pm

...as in the example above
to consider the three hours prior to midnight for the swing high/low..

I think this is an interesting option I've also missed.
User avatar
Traveller
 
Posts: 48
Joined: Mon Oct 19, 2009 7:29 am

Re: Advanced system #5 (Trend Lines Breakout System)

Postby neil81 » Fri Jul 09, 2010 12:54 pm

Hi,

i have just come accross this excellent forum.

does anybody know whether Gyula coded a version 5 of the trendline indicator as the last post i can see on here is from 3 months ago?

Many Thanks
Neil
neil81
 
Posts: 3
Joined: Fri Jul 09, 2010 12:44 pm

PreviousNext

Return to Forex trading strategies and systems



cron