BuyZone for Dummies

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johnsund
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BuyZone for Dummies

Postby johnsund » Thu Aug 19, 2010 8:09 pm

If you receive donational indicators from TRO, last night you would have received the latest group. The latest includes TRO2010_BuyZone_BFD, and this is what I would like to start a new topic about.

I have been a follower of TRO for almost 3 years, and consider him to be the most creative and prolific of any coder for MT4. In addition, I consider him to be a friend and mentor. I have progressed greatly under his tutelege, from raw newbie to Drain the Banks to Rat Zone. With the development of BFD, however, I think he has outdone himself. In the future, I will be posting snaps of charts that will show how easy and reliable it will be to make lots of pips using this indicator. Today and tomorrow will be mostly watching and learning days, so my early posts of charts will be for illustrative purposes, and not live trades. Starting Monday, my posts will be of live trades only.

If you receive donational indicators I urge you to load up BFD on several charts (M5 is my preference) and see what it can do. If you do not receive donational indicators, I suggest you watch this thread and see what happens anyway.

I have added MultiMeter Candle Color to see what is happening on other time frames, but this is up to you. The pdf that accompanies the indicator and template files provides good direction, but also search kreslik for Buyzone - it will bring up some older pdf files that will be helpful in understanding the very simple rules.

Please contribute your own experiences with this great indicator.

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Postby johnsund » Thu Aug 19, 2010 8:32 pm

Here is my first example. I added the gauge only from TRO2009_SR_RR, and TRO2010_MulitiMeter_Candle_Color. These were added to let me know what the larger time frames were doing. In both cases they said to me that price would PROBABLY go up. MMCC is green out thru H4 and bias on SR_RR is up strong.

So, looking at the BuyZone at the tiop of the hour, the long trigger at 85.286 would have been entered with a 6 pip TP, and 7 pip SL.

Note that price hit the dashed green line at 85.356 for 6 pip profit. This is way too easy and profitable, and repeats itself over and over and over again. Thank you Avery!!!

Image

johnsund
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Postby johnsund » Thu Aug 19, 2010 9:36 pm

Another great example. AU off the M5 chart, short at .89226, TP at .89156, and price continued down. It is nearly 10 minutes after the trade materialized, but H1 and H4 bias are still Down Strong, and most of the MM CC are red. What should you do but short and take minimum of 6 pips.

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tfg
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Postby tfg » Fri Aug 20, 2010 9:14 am

johnsund,

What time of the day do you trade? Do you take all BZ trades or you filter them?

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Postby johnsund » Fri Aug 20, 2010 12:23 pm

I trade from 5 or 6 am EDT until just after 12:00 noon EDT. I trade at the top of the hour, and as many good trades as I can. Have 8 pairs up, but most times triggers on all 8 pair are hit within the first minute or two after the top of the hour, so hard to trade more than 2 or 3 per hour. I try to trade the pairs with the least spread - EU GU UCHF. If MMCC/SR RR are in the same direction and strong, enter. It is 6:15am. Since 6:00am, of the 8 pair I watch, 6 pair have triggered an entry, reached +6 pips and automaticlly out for +36 pips. The other 2 pair have triggered an entry, but not reached the target nor been stopped out.

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Postby tfg » Fri Aug 20, 2010 12:54 pm

Thanks, johnsund.

Do you place market order or stop order? Manuaully? I trade on MT4 and it could be quite a challenge, like you said, to trade more than 2 or 3 pairs at the same time.

Which are your 8 pairs? I got eu, gu, uchf...

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Postby johnsund » Fri Aug 20, 2010 1:04 pm

I use stop + TTO, with stop set at either the long or short entry point specified by the indicator. I only place one side, as SR RR and MMCC "tell" me which direction price is most LIKELY to go. Some people have set orders in both directions and then cancelled the order that did not trigger. I do not like this method. I watch: EJ, GJ, UJ, AU, EU, GU, UCAD UCHF. Suggest you read all threads on any Buyzone topic on kreslik - there are several.

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Postby tfg » Fri Aug 20, 2010 1:20 pm

Thanks. I will re-read those thread. What do you mean by TTO?

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Postby johnsund » Fri Aug 20, 2010 1:52 pm

TTO is an order format in MB Tradings Navigator platform. It allows you to enter a Take Profit and Stop Loss automatically once you set the parameters. These factors become applicable to all orders until you change them, then the new parameters apply to all future orders.

I enter using the Stop+TTO order with TP at 6 and SL at 7. Once an order is entered I can bring up a screen that allows me to change TP and SL levels. If price is really running in my direction I will raise both SL and TP for more pips. Hope this helps.

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Postby johnsund » Tue Aug 24, 2010 12:12 pm

Here are 2 trades on the same pair from this morning. At the top of the hour(white vertical dashed line), price dropped into the short Buyzone. Less than 15 minutes later target profit at the 1.05929 line was hit for +6, but continuted dow. Later price hit the long Buyzone trigger, went up for 6 more pips plus. So, on the same pair, 2 trades in under an hour for minimum of 12 pips.

Have added 2 indicators. In the upper right corner are TRO2009_Multi_Meter_CandleColor and TRO_MM_Control. MM CandleColor shows the color only of candles on the various timeframes. MM Control shows the STRENGTH of price movement. If you look at the indicators they are all green and on MM Control the arrows are all straight up. What might one think will be happening to price in this example? If you see a mixture of colors on both indicators, there is no clear direction as to what price MAY do. If you have sustantially all the same colors you have a much better idea of what price MAY do.
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