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@  Shahram : (22 September 2019 - 10:20 AM) Does anyone has experience with dukastcopy?
@  Shahram : (22 September 2019 - 10:18 AM) dukascopy
@  gabrielscama... : (21 September 2019 - 12:25 PM) mt5
@  Tripack : (21 September 2019 - 12:12 PM) Heh
@  Cookiebrawler : (17 September 2019 - 04:27 PM) MegaMoney 90%
@  aasir : (16 September 2019 - 10:25 PM) Binary Triumph
@  traderpusa : (10 September 2019 - 01:35 AM) that was my bmw lol. E60.
@  Monoaldo : (10 September 2019 - 01:34 AM) E60
@  manfloy : (09 September 2019 - 11:12 AM) well said.
@  traderpusa : (09 September 2019 - 11:07 AM) at least for the moment, china will hold back because of economic conditions. My guess is they want to involve PLA but simply are not in a position to do so for the moment.
@  traderpusa : (09 September 2019 - 11:05 AM) well, regardless of any agreement between uk and europe, there is still nato is trump doesn't blow it up lol
@  manfloy : (09 September 2019 - 11:04 AM) I am really worried about HK if the PLA phase in this can interrupt the entire chain between FX liquidity and current import / export countries. I understand that we have a bunch of corporations exposed to China, now believe that 99 percent of them are stable in HK because they have a high law. If the PLA gets in, they'll substitute this economic centre with a singapore.
@  manfloy : (09 September 2019 - 11:04 AM) Yeah, they're really a very significant player. I am informed that there is also a lot more than economic, for instance there are a number of military agreements agreed between the GB and the EU, which is serious.
@  traderpusa : (09 September 2019 - 11:02 AM) the UK being part of the EU GDP figures, but not part of the Euro only makes things a bit complicated on how to interpret numbers for trading purposes.
@  traderpusa : (09 September 2019 - 11:00 AM) of course one needs to focus on US being the biggest economy but UK is still up there. https://gyazo.com/42...39df1c7c58d9221
@  manfloy : (09 September 2019 - 10:56 AM) I'm focused on the US, so I don't spend so much on the GB, I'm supposed to study it well since 2015, but something has altered worldwide, literally, it's an enormous step in the world's liquidity and global system, modifications are nice, but they're really colorful.
@  manfloy : (09 September 2019 - 10:56 AM) thanks good reading
@  traderpusa : (09 September 2019 - 10:53 AM) As to China, read this over the weekend : https://apnews.com/6...f75f013bf54e6a9
@  manfloy : (09 September 2019 - 10:51 AM) Spectacular indeed lol, this is huge to be honest
@  traderpusa : (09 September 2019 - 10:47 AM) it's gonna be interesting. MP's are leaving the sinking ship and now also Bercow has resigned. Gonna miss this guy lol

Photo

Forex Greenland (using Tri's rules)


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#1 Tripack

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Posted 28 March 2014 - 09:53 AM

Hi guys,

I would like to share with you a little strategy that I like.
I've been looking at it a few times and at how to apply it to my spot trades and I actually found that it could be pretty useful with short term bins (5-10m) ;)

It basically uses the "TRO Forex Greenland" indicator made by TRO (TRI only uses different rules), you can download it & check the original rules on here: http://www.forexstra...forexgreenland/ so all the credits goes to him and the guy who posted it there.

However I modified a bit the entry rules to accomodate the typical bins chop we see with short term PA.
So yes it is just price action and is similar to some other horizontal levels strategies that David has posted, and this "yoyo" technique around S/Rs is very effective, as David has proven it multiple times in the past.

I'm not really in favor of making a video so I'll share a few screens with examples & entry rules.

Example 1:

 

AU_Grnld_example.png

 

1. Red arrow appear: a new HIGH has formed - from here we are looking for PUTS/SHORTS only.
2. Prices break the "go short" line - DO NOT ENTER but take good note.
3. Prices go back up above the "go short" line - be ready to place your PUT/SHORT.
4. As soon as prices do break the "go short" line again, place your order.
--> ITM. This one is obvious but unfortunately not all trades are like this one and you need to apply some common sense and use your experience.

 

 

Example 2:

 

EU_Grnld_example_2.png

 

1. Red arrow appear: a new HIGH has formed - from here we are looking for PUTS/SHORTS only !
2. Prices break the "go short" line - DO NOT ENTER but take good note.
3. Prices go back up above the "go short" line - be ready to place your PUT/SHORT.
4. As soon as prices do break the "go short" line again, place your order.
--> ITM. Less obvious because although it says "go short" we are close to a good support level, that is the reason I put the Chinkou line on here.

 

 

Example 3:

 

GU_Grnld_example_1.png

 

1. Blue arrow apprear: a new LOW has formed - from here we are looking for CALLS/LONGS only !
2. Prices break the "go long" line - DO NOT ENTER but take good note.
3. Prices go back below the "go long" line - be ready to place your CALL/LONG.
4. As soom as prices do break the "go long" line again, place your order. !! Note that it's the same candle, extra risk, up to you to decide according to your experience !!
5 & 6. Those are just re-entries since prices did not form a new HIGH, all ITMs. Again use discretion & pay attention to previous levels (Chinkou on different TFs).


It's not a holy grail at all but simply another tool to look at PA, you will get OTMs but a serious pro about this one is that you won't get caught in waterfalls constantly trying to trade reversals. On the other end you need a bit of patience.

Later I will add another (often underestimated and misunderstood) tool that could help filter things out when I get more time.

In the meantime enjoy and I hope this is helpful to you.

Tri

Attached Files


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#2 dwalther2

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Posted 28 March 2014 - 10:51 AM

Cant get it to work on build 600+. Wont compile either. Any ideas? I did put it in the old mq4 folder of the mt4.



#3 Tripack

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Posted 28 March 2014 - 10:56 AM

Does it work by putting it in MQL4/indicators ?



#4 David

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Posted 28 March 2014 - 11:27 AM

Tri, on the example 2 and 3 are you not waiting for price to close below the go short/long, only a wick to go under?  I always get a little nervous on those as you could have a random whip down there which could be more of a false candle.  That first example looks awesome though!



#5 Tripack

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Posted 28 March 2014 - 11:32 AM

Hey D,

 

No I do get in as soon as it (re)breaks, I use another filer for this but I will post charts about that aspect a bit later.

Btw - I mention the extra risk about example 3.



#6 dwalther2

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Posted 28 March 2014 - 11:40 AM

Does it work by putting it in MQL4/indicators ?

Nope



#7 Tripack

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Posted 28 March 2014 - 11:58 AM

I've attached the ex4 file on the first post.



#8 dwalther2

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Posted 28 March 2014 - 12:22 PM

I've attached the ex4 file on the first post.

That did the trick. Thanks.



#9 virionx

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Posted 29 March 2014 - 07:21 AM

it looks pretty good i might say..will try it out when the market opens on monday. i wanna say that you guys are doing a wonderful job helping guys like me out. initially i was just trading with out signals nothing...just going like that but thanks to you guys i really have an edge..gud :D

pls dont stop the good work



#10 raydioturner

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Posted 29 March 2014 - 09:38 AM

I played around with this on strategy tester this morning on three different pairs, E/U, U/CAD, and U/J, ended up 5W/1L, 5W/2L and 4W/2L respectively just following these rules and running from NY close to NY midnight on each pair (my prime time trading session). I'd post some chart pics but as each new high/low is formed your lines will adjust accordingly so I don't think it would be of any use because previous trades just won't look right. But, this is definitely worth looking into and exploring IMO. Thanks for sharing Tri.   



#11 virionx

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Posted 30 March 2014 - 09:37 AM

is anyone have difficulty with this indicator? mine just vanished from my indicator list...it aint working any more any clues?

its working know thanks



#12 virionx

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Posted 02 April 2014 - 09:40 AM

it works just fine..so far so gud more itms than otms..thanks alot



#13 Tripack

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Posted 02 April 2014 - 11:20 AM

I'm glad to hear it's useful for you :)

Be careful around pivot points where prices can have a tendency to "stick around" & for confirmation I like to use ADX personally but for the moment I don't have much time to play around with screenshots.

Don't hesitate to share any "improvements"/changes etc.



#14 greentrader99

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Posted 02 April 2014 - 01:36 PM

Hi,

I am demoing this system at the moment. Can you please explain how to use ADX with this?

Thanks!

#15 Tripack

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Posted 03 April 2014 - 12:19 PM

I will, just that I am often remote desktop"ing" and doing screenshots like that is not easy especially when it requires you to switch timeframes at the right time.



#16 virionx

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Posted 06 April 2014 - 09:59 AM

come to think of it, this is a really good strategy cos u will be following the trend not going against it..as the saying in the traders world goes "the trend is your friend"..thanks man once again for the heads up



#17 wlnuncw

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Posted 18 April 2014 - 01:20 AM

Takes a little practice to get used to spotting the bar set ups but when you do its highly successful. Good strat maybe look at getting an alert when a potential red or blue arrow forms?


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#18 martinezfx

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Posted 16 October 2015 - 09:44 AM

please who knows does support and resistance lines repent? or does it just sticks there till the end of the trading day. Thanks


The biggest challenge most traders will face in trying to remain consistently profitable is the temptation and habit of continually adding and complicating simple concepts or jumping from one system to the other

#19 Mondmann

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Posted 27 October 2015 - 12:18 PM

It looks pretty good for now and it's worth a try! Thanks Tri


some folks win and some folks won't.

 

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#20 David

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Posted 27 October 2015 - 12:23 PM

We need Tri to come back and start testing this puppy again.  I forgot why he stopped using it.


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