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Re: FXSurf WaveTrend System
Posted: Tue May 09, 2017 4:41 pm
by greenway
FXSurf wrote: Fri May 05, 2017 8:58 pm
Yes that is correct. The thicker White and Orange represent the Daily 25 and 200 EMA.
Do you use Moving Averages only or there is some other way to filter false signals?
Re: FXSurf WaveTrend System
Posted: Tue May 09, 2017 10:36 pm
by FXSurf
greenway wrote: Tue May 09, 2017 4:41 pm
Do you use Moving Averages only or there is some other way to filter false signals?
Yes the WT's are used in conjunction with the EMA's. Its not so much a "hard signal" when price crosses X, it's more of a pattern that I look for when all three WT's converge on extreme tops and bottoms.
Re: FXSurf WaveTrend System
Posted: Tue May 09, 2017 11:37 pm
by FXSurf
A perfect example of the patterns I look for. All 3 WT's converge at the bottom, 1h and 4h turn up. Bullish divergence on the 1H TF.
Was watching the SR levels and wedge pattern on daily.
Re: FXSurf WaveTrend System
Posted: Tue May 09, 2017 11:59 pm
by FXSurf
Same typical pattern on AUDCAD last week.
WT's at top, divergence formed, failure to break previous daily high.
Re: FXSurf WaveTrend System
Posted: Wed May 10, 2017 3:39 am
by greenway
Thanks for helping me again, FXSurf)) Your system is so versatile, I need some time to get used to it. So we can use WT oscillator as Hi-Lo, divergence and lines crossing tool?
Re: FXSurf WaveTrend System
Posted: Wed May 10, 2017 4:11 am
by FXSurf
greenway wrote: Wed May 10, 2017 3:39 am
Thanks for helping me again, FXSurf)) Your system is so versatile, I need some time to get used to it. So we can use WT oscillator as Hi-Lo, divergence and lines crossing tool?
Basically yes.
Just load up your favorite pairs and look at where the WT's cross and converge with each other. There certain consitant patterns that occur.
Stay in the trade for as long as you want. I usually will TP at certain fib levels. I don't like holding trades for too long, when I see the pattern I like then I set alarms and scale in larger positions.
Re: FXSurf WaveTrend System
Posted: Thu May 11, 2017 4:08 am
by greenway
FXSurf wrote: Wed May 10, 2017 4:11 am
Basically yes.
Just load up your favorite pairs and look at where the WT's cross and converge with each other. There certain consitant patterns that occur.
Stay in the trade for as long as you want. I usually will TP at certain fib levels. I don't like holding trades for too long, when I see the pattern I like then I set alarms and scale in larger positions.
Do you have any thoughts about system improvement? Additional oscillator or some other indicator?
Re: FXSurf WaveTrend System
Posted: Thu May 11, 2017 4:39 am
by FXSurf
greenway wrote: Thu May 11, 2017 4:08 am
Do you have any thoughts about system improvement? Additional oscillator or some other indicator?
Sometimes i will use wide BB's for W and M formations (as pictured below)
The only other indicators i use are last four daily and weekly candles (pictured on the right)
Weekly time separator, Paramount work time indicator, to show my waking hours and Trader Dante's ATR tool.
Im not sure adding another oscillator is necessary as the WT's+25 EMA and 200 EMA gives me all the confirmation i need.
patterns
Re: FXSurf WaveTrend System
Posted: Sun May 14, 2017 12:46 am
by greenway
FXSurf wrote: Thu May 11, 2017 4:39 am
Sometimes i will use wide BB's for W and M formations (as pictured below)
The only other indicators i use are last four daily and weekly candles (pictured on the right)
Weekly time separator, Paramount work time indicator, to show my waking hours and Trader Dante's ATR tool.
Im not sure adding another oscillator is necessary as the WT's+25 EMA and 200 EMA gives me all the confirmation i need.
patternsUSDCHFiH1.png
Im using some additional tools too, like ADR, S&R levels and adjustable grid in pips. But i was looking for something to filter false signals when market is ranging.
Re: FXSurf WaveTrend System
Posted: Sun May 14, 2017 4:09 am
by FXSurf
greenway wrote: Sun May 14, 2017 12:46 am
Im using some additional tools too, like ADR, S&R levels and adjustable grid in pips. But i was looking for something to filter false signals when market is ranging.
I find that when all three WT's are at the zero midline then there may be some ranging occuring.