Re: RedEye XGen v202307

2141
RedEye wrote: Mon Jul 31, 2023 12:22 pm Hello friends,

Last weekend, I finally had some time to finish what I was planning to share. Working as a consultant in a construction site took all my time (and energy) last week.

Anyway, here is my latest setup - RedEye XGen v202307. This version has updated indicators and new look :Rofl: Lets take a brief look on the indicators:

2xMA (candles + arrows) BT 1.2.ex4
Description:
- Supports AHTF + MTF + Alerts + Arrows
- The same indicator used in our previous setup

WAE_v1.0.ex4 (new)
Description:
- Supports AHTF + MTF + Alerts + Arrows
- Plots Waddah Attar Explosion + ATR DeadZone
- 2 color scheme (Green = up and Red = down) for easier interpretation
- All histogram upwards to save screen space
- Shows similar signal with FNC Greedy System dashboard

WAE_v1.0_btn.ex4 (new)
Description:
- Functions exactly the same with WAE_v1.0.ex4 but with added button as alternative for us.
- Not loaded in the new template by default. Add it if you want to use it.
- I personally like Waddah Attar to be on screen all the time, so I don't use this.

MACD_MTF_v1.2.ex4
Description:
- Supports AHTF + MTF + Alerts
- Option to change color on signal cross, zero level cross and slope change
- For our strategy, we mainly use signal cross

TDI_CB_SSA_v1.1.ex4 (new)
Description:
- TDI + Confidence Band + SSA calculation (not an End-Point version)
- Support MTF + Alerts + Arrows
- Repaint slightly
- Option to give signal on
- Zero level Cross ; will show level 0 cross
- RSI signal Cross : will show RSI price and RSI signal cross
- OBOS level Cross : will show crossing of Level 0.4 and -0.4
- Confidence Bands Cross : will show all crosses of Confidence Bands (in and out)
- (New) Out Of Confidence Bands Cross : will show crosses of Confidence Bands from inside to outside only.
- For this strategy, we use Zero Level cross. But please also test other crossing too, especially Out Of Confidence Bands Cross.

TDI_EP_CB_SSA_v1.1.ex4 (new)
Description:
- TDI + Confidence Band + SSA calculation (End-Point version)
- Serves as alternative for those of us who want to use a non-repainting TDI
- Similar features with TDI_CB_SSA_v1.1.ex4
- Not loaded in the new template by default. Add it if you want to use it.

6 Signals MTF Mod.ex4 (new)
Description:
- This indicator is replacing '7 Signals MTF Mod.ex4' because Waddah Attar already presented in separate subwindow (WAE_v1.0.ex4).
- Now for entry, the best way is to wait for all 6 dots to change color. BUT for aggressive trader and risky entry, you can look only at Stoch and CCI (top 2 dots).

genessis histo BT.ex4
Description:
- The same indicator used in our previous setup.
- Button feature so it can be displayed on-top of 6 Signals
- Used as alternative or confirmation to 6 Signals
- FOr entry, wait for all vertical bars change to same color

Xuma (candles).ex4
Description:
- This indicator is based on slope of 2 (3) periods of SSL (Semaphore Signal Level) and Gann HiLo.
- Candles change color

FiboBB_v1.0.ex4
Description:
- Plots Bollinger Band based on Fibo
- The same indicator used in our previous setup.

FiboSR_v1.0.ex4
Description:
- The same indicator used in our previous setup.
- Plots Fibo based support & resistance levels

FractalSR_v1.0.ex4
Description:
- The same indicator used in our previous setup.
- Plots fractals based support & resistance levels

SRZ_MTF_v1.0.ex4
Description:
- Plots support & resistance zones based on candle in any timeframe
- Supports AHTF + MTF + alerts

WorkTime_v1.0.ex4 (new)
Description:
- Indicator to plots Steve Mauro's WorkTime strategy that looks at candle movement withing Asian Session HiLo range, and trade it in London/NewYork session
- We can hide London and New York session box and only show Asian session box.

TradingSessions_v1.1.ex4 (new)
Description:
- Replacing TradingSessions_v1.0.ex4 to fix logical error with timezone when 'TimeMethod' set to 'Automatic Time Setting'
- Additional entry in Inputs tab : BrokerGMTOffset. Here we have to put our broker server time offset to GMT. For example, broker Pepperstone.com, as of 25th July 2023, while US daylight savings is in place, server time is set at GMT+3. So the input will be '3'. When the US is not under daylight savings, Pepperstone server time will be GMT+2 and we should put BrokerGMTOffset = 2. This BrokerGMTOffset need to be correct in order to show correct session time.

OpenTradeValues_v1.0.ex4
Description:
- To show stoploss and take profit values (currency) for any opened trade
- The same indicator used in our previous setup.

My Color Notes V5 BT.ex4
Description:
- To put notes on the chart for reference.
- The template include sample of how it looks (button Buy and Sell). Feel free to change the displayed notes

Symbol changer profit display v5.1.ex4
Description:
- To quickly load and change symbol / timeframe on the same chart window
- In the template, I load the symbol 'manually'. Please change this according to your preferences.

Template:
- In this version, I provide 2 templates. They are the same, but with different color scheme.
- Default is the bright 'green-based' that suits my old and tired eyes. The other one is 'blue-based'.

SCREENSHOT
There is quite a big space on the right side of the chart for us to load any other indicators we like to assist us in our trading - indicators like !SM_NewHUD.ex4, dashboards, etc.
Image

Image

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MY HUMBLE REQUEST
This setup is based on Beatlemania's X-Gen Trend Trading strategy. We are looking to further improve the strategy and make it profitable and easy to use for all. So, if you use this setup, we really hope you can participate by sharing your experience and knowledge. Please share your trading tips, what you consider before entering/exiting a trade, what timeframe is better, any other consideration of entry/exit that we should look into (example: price action, moving average, oscillators, etc). Thank you! :D
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RedEye XGen v202307.rar

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Cheers!
-RedEye-

thk you very much i ll try it on DE40
These users thanked the author dio889 for the post (total 4):
RedEye, pantera, BeatlemaniaSA, Philanthropy


Re: X-Gen Trend Trading System

2143
dio889 wrote: Mon Jul 31, 2023 9:00 pm quick question, what metrics do you use?
for the moment I left 2MA and 2MA+
is the 2MA+ useful in your opinion?
Hi dio889,

The new version still follow the same entry/exit conditions as previous. You can refer to it here viewtopic.php?p=1295517678#p1295517678

I set the 2xMA+ to show '1 higher timeframe'. I normally trade in lower timeframe (M5 and M15) so I use 2xMA+ (with a higher timeframe setting) to know what is happening in the higher timeframe. You can also set it maybe to H1 or H4 so that we are trading with the trend.

-RedEye-
These users thanked the author RedEye for the post (total 5):
Woodyz, pantera, Philanthropy, dio889, Jedidiah

Re: X-Gen Trend Trading System

2144
Hi Beatlemania just wanna thank you for your tireless hard work and contribution to the forex family.
From the first version to last version which is the X-Gen there is something unique about your versions, or should I say there's something that stands out about them, which is the tweaking of indicators. Every indicator in them is in unison which I find this appealing about them and Which makes them easier to understand for newbies like me.

Let alone trading, when it comes to tweaking of indicators, You are forex station number one(🙃it's my opinion of course 😇).your tweaking prowess is extraordinary.

Above all thank you so much for your skills.

Kind regards
Philanthropy
These users thanked the author Philanthropy for the post:
RedEye

Thank you :-)

2145
Philanthropy wrote: Wed Aug 02, 2023 2:06 am Hi Beatlemania just wanna thank you for your tireless hard work and contribution to the forex family.
From the first version to the last version which is the X-Gen there is something unique about your versions, or should I say there's something that stands out about them, which is the tweaking of indicators. Every indicator in them is in unison which I find this appealing about them and Which makes them easier to understand for newbies like me.

Let alone trading, when it comes to tweaking indicators, You are Forex station number one(🙃it's my opinion of course 😇).your tweaking prowess is extraordinary.

Above all thank you so much for your skills.

Kind regards
Philanthropy
Thank you for your kind words :hug: My small contribution has just been a way to give back and help those that needed it. Forex Station gave me the opportunity to learn so much and benefit from the amazing coding skills of the master coders here. It was only right to Pay It Forward :)
These users thanked the author BeatlemaniaSA for the post (total 11):
Banzai, Jimmy, Philanthropy, thomdel, mrtools, Chickenspicy, RodrigoRT7, Jedidiah, dio889, RedEye, Starter02
BEATS V5 - "Enjoy The Quiet Between Trades”

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Re: Thank you :-)

2146
BeatlemaniaSA wrote: Wed Aug 02, 2023 2:30 am Thank you for your kind words :hug: My small contribution has just been a way to give back and help those that needed it. Forex Station gave me the opportunity to learn so much and benefit from the amazing coding skills of the master coders here. It was only right to Pay It Forward :)

Image
hello Redeyes

I have a big problem when the price range

i take lot of fake signal , all condition are good but change every 5 or 6 candles

How can I avoid these bad signals?
Attachments

Re: Thank you :-)

2147
dio889 wrote: Thu Aug 03, 2023 4:07 am hello Redeyes

I have a big problem when the price range

i take lot of fake signal , all condition are good but change every 5 or 6 candles

How can I avoid these bad signals?
Hello dio889,

We should always choose when is best to trade and when to stay out of the market. When market is consolidating (price move in small ranges), try not to enter a trade if possible.

Here is an example of JPN225 on 1st August 2023 (2 days ago), in M5 timeframe. In the chart (screenshot 1), we have 2 possible long/buy entries that met all our entry conditions. Should we or should we not take those trades? To make those decision, we need to look at:

1. Price actions
2. Higher timeframe trends
3. Area of value / importance
- -
Price Action (refer screenshot 1 above)
Price candles were very small : signifying not enough volume.
Candle patterns - doji, shooting stars and hammers were everywhere : telling us that market was indecisive, small numbers of buyers and seller were fighting.
Waddah Attar - the histo bars were under (or very near to) the explosion line : no volume and indecisive.

Those are a few example of price actions that we must be aware of.

Higher Timeframe Trend (refer Screenshot 2 below)
This is the same chart, with the same lines. The only difference is, the 2xMA line in is showing a higher timeframe. In this case, the chart is in M5 and the 2xMA is showing M15. In the template, there are 2xMA and 2xMA+ buttons. I set the 2xMA+ to show AHTF. We can also set it to show fixed higher timeframe like H1 or H4.
In a higher timeframe, 2xMA still showing short/sell.
- -
In Screenshot 3 below, the same chart JPN225 but in H1 timeframe. In this H1 chart, look at the first blue line on the left. Although in M5 the first blue line is showing Long/Buy, but in H1 the trend is about to change to short. The MACD has been red for about 2 or 3 hours and going downwards. TDI main line (green one) is also going down to cross the 0 level. Stoch in 6Signal is red for 4 hours and CCI also red for 2 hours.
- -
Area of Value
Refer to Screenshot 4 below, I put up EMA50 on the chart (the Gold color line). We can see that the market price is respecting EMA50 where the price keep bouncing on it. EMA50 is our area of value now. So, at those two possible long/buy area, we must wait for price movement to confirm whether it bounce downwards or pierce through upwards and breaks the EMA50.
- -
In summary, we must always study the price action, look at the overall trend, be aware of area of value. Indicators are to help us to see what is happening. Combining the signals from various indicators are crucial. Dont rely just on a single signal. Put on EMA lines on the chart (EMA20 or EMA50 or EMA100 and find what EMA period the price is respecting), turn on S&R zones, look at Pivot lines, etc.

Hope that helps.

-RedEye-
These users thanked the author RedEye for the post (total 2):
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Re: Thank you :-)

2148
dio889 wrote: Thu Aug 03, 2023 4:07 am hello Redeyes

I have a big problem when the price range

i take lot of fake signal , all condition are good but change every 5 or 6 candles

How can I avoid these bad signals?
Dio889,

You may also want to look at SuperTrend indicator. I very much like this one coded by mrtools in this post viewtopic.php?p=1295519809#p1295519809

-RedEye-
These users thanked the author RedEye for the post:
Philanthropy

Re: X-Gen Trend Trading System

2150
Hi Beatlemania. Please forgive me for posting this, I just can't help it. I just love your work 😍.
This is exceptional😍, flawless😍, clean😍 and epic😍.
Sir Beatlemania if don't mind can you please share the subwindow indicators and their settings exactly as in the pictures. I just wanna match them with xu-hybrid 5.0(my holy grail).
It's just hard to ignore this🙃
Kind regards
Philanthropy
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