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Thread: Level Trading 123

  1. #1
    Administrator funyoo's Avatar
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    Default Level Trading 123



    Another interesting 123 wave indicator.
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  2. #2

    Default How to use this indicator effectively?

    Dear Funyoo,

    Looks very nice indicator.

    How to trade and use this indicator correctly?

    Is it same as High - Low Zigzag or normal zigzag indicator?

    And is this level trading indicator repainting? Best time-frame is H1?

    Thanks for your sharing experience.

    Best regards,
    James

  3. #3
    Administrator funyoo's Avatar
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    Quote Originally Posted by james_phuc28 View Post
    Dear Funyoo,

    Looks very nice indicator.

    How to trade and use this indicator correctly?

    Is it same as High - Low Zigzag or normal zigzag indicator?

    And is this level trading indicator repainting? Best time-frame is H1?

    Thanks for your sharing experience.

    Best regards,
    James
    Hi james_phuc28,

    It doesn't repaints, it's like the High - Low Zigzag.

    You have to enter a buy order when a red cross appears, a sell order when a blue cross appears. Then I suppose that the dot lines are for SL and TP.

  4. #4
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    Funyoo

    Do you think you could creat an EA for this indicator with martingail. I think it could have some good potential, but sitting up all the time waiting for the signals would be time consuming indeed

  5. #5
    Administrator funyoo's Avatar
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    Quote Originally Posted by wannaberich View Post
    Funyoo

    Do you think you could creat an EA for this indicator with martingail. I think it could have some good potential, but sitting up all the time waiting for the signals would be time consuming indeed
    Yes that's possible but I don't know how to integrate the dot lines.

  6. #6
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    Yeah i have no idea either, just think it could be profitable if it could be done, since it does not get a lot of losing trades and if you include something like martingail, you know add some lots when you get a loser or two, could end up being quite consistant.

    But need an EA to do a good backtest on

    Quote Originally Posted by funyoo View Post
    Yes that's possible but I don't know how to integrate the dot lines.

  7. #7
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    Quote Originally Posted by wannaberich View Post
    Yeah i have no idea either, just think it could be profitable if it could be done, since it does not get a lot of losing trades and if you include something like martingail, you know add some lots when you get a loser or two, could end up being quite consistant.

    But need an EA to do a good backtest on
    Another idea.... A simply stop and reverse EA?

    Buy when a red cross appears and stop and sell when a blue cross appears. Idem in sell orders.

    This with MM... martingale or lots increasing colud be nice.

    * First post in this great forum, regards from Spain and sorry my poor english

  8. #8
    Administrator funyoo's Avatar
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    Here is the code.
    Attached Files Attached Files

  9. #9

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    Hi Funyoo....and All.
    I'm trying to backtest and optimize this Indicator with EA. What do we know of the "Setup" parameter definitions??? I have it making trades ....but I think it would work much better if the EA would place orders when a new line appears... It currently is making them after most of the profit is already behind us. Thanks BillR

  10. #10
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    Thanks funyoo i will have a look at it

    Quote Originally Posted by funyoo View Post
    Here is the code.

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backtest, ex4, high, how to, indicator, indicators, level, low, martingale, mql, mt4, profit, profitable, sells, short term, signals, stop, strategy, thank you, time, trading

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