{quote} Good to see you back - Looking forward to seeing how the method has evolved - m1 tf now it seems, for a start, lol. Love it.
Good luck with everything.
Trade to Live - Don't Live to Trade
Simple Correlation Indicator System
Good luck with everything.
- #386
- Oct 11, 2016 6:28am Oct 11, 2016 6:28am
here is example on GBPUSD from today...is this a valid short trade?...the only thing I am not sure about is Winner, which is coming down from above 85 but by the time the SS has given signal the Winner was already below 50.
SL would be placed just above last red circle of REnkoStreet which is 17pips + spread.
Exit when green line on SS crosses below 0 level. Or what else would make you exit? What about change in heiken3? If HA3 used then profit would be +27pips. Or if having fixed TP for 1:2 risk:reward then this would be +38pips. I guess everyone needs to find what he prefers how to take profits.
SL would be placed just above last red circle of REnkoStreet which is 17pips + spread.
Exit when green line on SS crosses below 0 level. Or what else would make you exit? What about change in heiken3? If HA3 used then profit would be +27pips. Or if having fixed TP for 1:2 risk:reward then this would be +38pips. I guess everyone needs to find what he prefers how to take profits.
- #387
- Edited 7:47am Oct 11, 2016 6:52am | Edited 7:47am
- | Commercial User | Joined Jun 2008 | 686 Posts
here is example on GBPUSD from today...is this a valid short trade?...the only thing I am not sure about is Winner, which is coming down from above 85 but by the time the SS has given signal the Winner was already below 50. SL would be placed just above last red circle of REnkoStreet which is 17pips + spread. Exit when green line on SS crosses below 0 level. Or what else would make you exit? What about change in heiken3? If HA3 used then profit would be +27pips. Or if having fixed TP for 1:2 risk:reward then this would be +38pips. I guess everyone...
Yeah the Winner is probably something that will take some getting used to...I reckon as long as it is out of the overbought zone and heading down you are in the clear...but I would not be selling if it had already reached the oversold zone etc.
Nice work mate! Now go and download the recent indicator updates and apply them to your chart and see whether there is any difference to your experience...they should offer better functionality...I am hoping
EDIT: Forgot to address your question regarding potential exit methods...I would consider using the renko channel boundary as a dynamic SL. Trouble is you need to be at the screen to monitor this. But whilst ever price is below the 3 period HA Smoothed you should stay in.
Alternately, you could add an additional HA Smoothed at a slower speed, say 8, and use them like moving averages, i.e. exit at a crossover. By the time this happens however, the SS would have already crossed the zero mid-line prior...so my guess is the SS would be the better option if the Renko channel boundary hasn't stopped you out.
Trade to Live - Don't Live to Trade
- #389
- Oct 11, 2016 7:02am Oct 11, 2016 7:02am
@kirkleaforex
I have added newest indicators, looks like it doesn't show...maybe if you could make screenshot with description what was added to we can see visually and compare thanks
I have a suggestion for SS indicator. Arrows are nice and big but for some traders it may be distracting. What if there was option to choose between arrow and colored bar? So instead of red/bearish arrow the candle would be colored (could be red as default). And similar for long signal.
I have added newest indicators, looks like it doesn't show...maybe if you could make screenshot with description what was added to we can see visually and compare
thanksI have a suggestion for SS indicator. Arrows are nice and big but for some traders it may be distracting. What if there was option to choose between arrow and colored bar? So instead of red/bearish arrow the candle would be colored (could be red as default). And similar for long signal.
- #390
- Oct 11, 2016 7:10am Oct 11, 2016 7:10am
- Joined Jun 2014 | Status: Invisible | 1,471 Posts
here is example on GBPUSD from today...is this a valid short trade?...the only thing I am not sure about is Winner, which is coming down from above 85 but by the time the SS has given signal the Winner was already below 50. SL would be placed just above last red circle of REnkoStreet which is 17pips + spread. Exit when green line on SS crosses below 0 level. Or what else would make you exit? What about change in heiken3? If HA3 used then profit would be +27pips. Or if having fixed TP for 1:2 risk:reward then this would be +38pips. I guess everyone...
Indeed a good setup:
