[walterw]

Originally Posted by MasterBlaster »

Hey Walter,

Great stuff here! I followed you over from ForexFactory. Been following LinuxTroll and the Cyrox Rainbow for a while now. It's a great method and I really like the additions you've made here.

I would like to suggest an alternative exit for study. The Two Bar exit consists of making your entry off of the 1 minute charts then going back to the 5 minute charts for your exit criteria. The way the two bar exit works is that your exit trails price by the greatest distance of the previous two bars plus spread. As with all exit criteria, this will perform better than the 1 min Xover criteria in some cases and worse in others. It's great for keeping you in steep moves with flat VMAR periods (consolidation). Hope this helps.

Cheers

Nice input Master and welcome aboard ¡¡... could you expand on the explanation of how exactly you read this two bar exit... certainly exiting on 5 min would put our RRR on steroids... would love to see more examples on how you use it... thanks for interacting ¡¡ cheers Walter

[MasterBlaster]

The 2 bar exit is a stop method originally intended for longer timeframes (4 hours). It was designed to make calculation of stopping points easy and to lock in profit as soon as possible without smothering the trade and ending up with a fraction of the pips available. The beauty of these exit methods (this one, the crossover, etc.) is that they eliminate subjectivity (an enemy to most traders) and still provide for a good exit point towards the end of a move.

Once I've established an entry I'll put a stop in place on the 5 minute about 6 pips (GBPJPY spread) beyond the lowest/highest point of the previous two candles to the candle that is now forming on the 5 minute. (** Look at the current candle forming...count the 2 completed candles to the left of that one. Take the lowest/highest point between those two candles, add in an additional 6 pips cushion and that is where you set your stop). At this point if I need to go to the bathroom or get a drink I have at least 5 minutes to do so. Every 5 - 10 minutes I observe price action and move the stop up accordingly.

See the attached chart for a couple of examples. Disregard the entries as I just chose those arbitrarily as a starting point, not due to valid entry criteria discussed on this thread.

Cheers

[walterw]

Nice and simple Master... this would be a quite smart trailing stop... very simple calculation... would be nice if we could code into MT4... any programmers would like to take shot ? its a very simple calculation, unfortunately I dont know programing on MT4... nice contribution here Master... thanks for interacting... cheers Walter.

[walterw]

Originally Posted by MasterBlaster »

The 2 bar exit is a stop method originally intended for longer timeframes (4 hours). It was designed to make calculation of stopping points easy and to lock in profit as soon as possible without smothering the trade and ending up with a fraction of the pips available. The beauty of these exit methods (this one, the crossover, etc.) is that they eliminate subjectivity (an enemy to most traders) and still provide for a good exit point towards the end of a move.

Once I've established an entry I'll put a stop in place on the 5 minute about 6 pips (GBPJPY spread) beyond the lowest/highest point of the previous two candles to the candle that is now forming on the 5 minute. (** Look at the current candle forming...count the 2 completed candles to the left of that one. Take the lowest/highest point between those two candles, add in an additional 6 pips cushion and that is where you set your stop). At this point if I need to go to the bathroom or get a drink I have at least 5 minutes to do so. Every 5 - 10 minutes I observe price action and move the stop up accordingly.

See the attached chart for a couple of examples. Disregard the entries as I just chose those arbitrarily as a starting point, not due to valid entry criteria discussed on this thread.

Cheers

Originally Posted by walterw »

Nice and simple Master... this would be a quite smart trailing stop... very simple calculation... would be nice if we could code into MT4... any programmers would like to take shot ? its a very simple calculation, unfortunately I dont know programing on MT4... nice contribution here Master... thanks for interacting... cheers Walter.

Now that you bring Master this exits on 5 min... I am looking at my classic "The Exit" definition on 5 min and it really brings noise quite down and more nice larger moves...(posible optimization of RRR) maybe we should consider an alternative for exits on the 5 min as well... So far I DO find precision on my Timing Entry at the 1 min with the Vmar edge... cheers Walter.

[PYenner]

Here are the MT4 files.

VarMAv1.1 has had a small change, uses one less array.
The fantail template got the MA26 line (VT) line changed to DarkGreen and thicker. Should look like Walters fantail and behave like Bemacs VT version.
Sorry about the delay, new to this template stuff.

Rename FantailVMA1_mq4.txt to FantailVMA1.mq4
Rename FantailVMA1_tpl.txt to FantailVMA1.tpl

[PYenner]

For anyone fiddling with ADX_VMA_Eval_1Min.mq4 on 1 min charts.

ADX_Periods=16
VMA_Sample_Bars=8
Those give normal type results.

If you double both numbers it is a bit like having the 2 Min VMA indicator showing on a 1 min chart, longer flat areas.
Ditto, 5 times is a bit like the 5 min flat areas showing on a 1 min chart.
Might help to have that idea to guide towards... whatever might help for scalping off 1 min charts.

[walterw]

Originally Posted by PYenner »

For anyone fiddling with ADX_VMA_Eval_1Min.mq4 on 1 min charts.

ADX_Periods=16
VMA_Sample_Bars=8
Those give normal type results.

If you double both numbers it is a bit like having the 2 Min VMA indicator showing on a 1 min chart, longer flat areas.
Ditto, 5 times is a bit like the 5 min flat areas showing on a 1 min chart.
Might help to have that idea to guide towards... whatever might help for scalping off 1 min charts.

Thanks Pyenner for this very nice contributions... you got me lost on this last post... could you post me a chart of what you mean ? it sounds interesting... by the way I loaded this last template of yours and it looks exactly the same to Igorads 2nd Version... maybe the template its not calling the new indicator... I superimposed the FantailVMA1 (red line)... by the way the crossings between the black and this red are interesting jejejeje...
thanks for all this Pyenner... cheers Walter.

[walterw]

sorry here is the chart...