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HOW-TO: Applying Profit Bands to the GKD trading system [Loxx]In this video I show how to use Profit Bands in conjuction with a Solo Confirmation Simple Backtest using the GKD Modularized Trading System. The purpose of this tutorial is show users how to see the entries/exits for the GKD-BT Backtest. Always make sure that the Backtest's volatility and volatility setttings match the Profit Bands volatility and volatility settings otherwise the entries/exits will not line up! █ Profit Bands What are Profit Bands? Profit Bands is a supplementary indicator to be used with Loxx's backtests and combination indicators that use volatility-based take profits and stop loss. This indicator includes two types of volatility: Average True Range and True Range Double. Additional volatility sources will be added in the future. The lines painted on the screen are multiples of ATR for Take Profits and Stoploss for Long/Short positions that you can change in the settings. 3 Take Profits and 1 Stoploss is supported. You can turn on/off each UI element. Position size is determined by calculating the size of an investment where you'd lose only X% of your balance if the Stoploss is hit. You can enter your total balance available to trade and the desired % risk you'd be willing to lose at SL. Typically this number is 1-2% of total balance per trade. Always remember to wait for bar close on a signal to and then peg this indicator to 1 bar backward to fix the price levels the then seed the exact levels you'll use for Take Profits and Stoploss. This indicator will match exactly the levels in other indicators in Loxx's scripts such as Kaleidoscope. You would overlay this script over any other script that uses volatility stops to see where to place your TPs and SL █ Giga Kaleidoscope Modularized Trading System What is Loxx's "Giga Kaleidoscope Modularized Trading System"? The Giga Kaleidoscope Modularized Trading System is a trading system built on the philosophy of the NNFX (No Nonsense Forex) algorithmic trading. What is an NNFX algorithmic trading strategy? The NNFX algorithm is built on the principles of trend, momentum, and volatility. There are six core components in the NNFX trading algorithm: 1. Volatility - price volatility; e.g., Average True Range, True Range Double, Close-to-Close, etc. 2. Baseline - a moving average to identify price trend 3. Confirmation 1 - a technical indicator used to identify trends 4. Confirmation 2 - a technical indicator used to identify trends 5. Continuation - a technical indicator used to identify trends 6. Volatility/Volume - a technical indicator used to identify volatility/volume breakouts/breakdown 7. Exit - a technical indicator used to determine when a trend is exhausted How does Loxx's GKD (Giga Kaleidoscope Modularized Trading System) implement the NNFX algorithm outlined above? Loxx's GKD v1.0 system has five types of modules (indicators/strategies). These modules are: 1. GKD-BT - Backtesting module (Volatility, Number 1 in the NNFX algorithm) 2. GKD-B - Baseline module (Baseline and Volatility/Volume, Numbers 1 and 2 in the NNFX algorithm) 3. GKD-C - Confirmation 1/2 and Continuation module (Confirmation 1/2 and Continuation, Numbers 3, 4, and 5 in the NNFX algorithm) 4. GKD-V - Volatility/Volume module (Confirmation 1/2, Number 6 in the NNFX algorithm) 5. GKD-E - Exit module (Exit, Number 7 in the NNFX algorithm) (additional module types will added in future releases) Each module interacts with every module by passing data between modules. Data is passed between each module as described below: GKD-B => GKD-V => GKD-C(1) => GKD-C(2) => GKD-C(Continuation) => GKD-E => GKD-BT That is, the Baseline indicator passes its data to Volatility/Volume. The Volatility/Volume indicator passes its values to the Confirmation 1 indicator. The Confirmation 1 indicator passes its values to the Confirmation 2 indicator. The Confirmation 2 indicator passes its values to the Continuation indicator. The Continuation indicator passes its values to the Exit indicator, and finally, the Exit indicator passes its values to the Backtest strategy. This chaining of indicators requires that each module conform to Loxx's GKD protocol, therefore allowing for the testing of every possible combination of technical indicators that make up the six components of the NNFX algorithm. What does the application of the GKD trading system look like? Example trading system: Backtest: Strategy with 1-3 take profits, trailing stop loss, multiple types of PnL volatility, and 2 backtesting styles as shown in the video above Baseline: Hull Moving Average Volatility/Volume: Waddah Attar Confirmation 1: DEMA MACD as shown in the video above Confirmation 2: Williams Percent Range Continuation: Fisher Transform Exit: Rex Oscillator Each GKD indicator is denoted with a module identifier of either: GKD-BT, GKD-B, GKD-C, GKD-V, or GKD-E. This allows traders to understand to which module each indicator belongs and where each indicator fits into the GKD protocol chain. Giga Kaleidoscope Modularized Trading System Signals (based on the NNFX algorithm) Standard Entry 1. GKD-C Confirmation 1 Signal 2. GKD-B Baseline agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees Baseline Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees 6. GKD-C Confirmation 1 signal was less than 7 candles prior Continuation Entry 1. Standard Entry, Baseline Entry, or Pullback; entry triggered previously 2. GKD-B Baseline hasn't crossed since entry signal trigger 3. GKD-C Confirmation Continuation Indicator signals 4. GKD-C Confirmation 1 agrees 5. GKD-B Baseline agrees 6. GKD-C Confirmation 2 agrees 1-Candle Rule Standard Entry 1. GKD-C Confirmation 1 signal 2. GKD-B Baseline agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean Next Candle: 1. Price retraced (Long: close < close or Short: close > close ) 2. GKD-B Baseline agrees 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees 1-Candle Rule Baseline Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 1 signal was less than 7 candles prior Next Candle: 1. Price retraced (Long: close < close or Short: close > close ) 2. GKD-B Baseline agrees 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume Agrees PullBack Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is beyond 1.0x Volatility of Baseline Next Candle: 1. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume Agrees
Education
by loxx
2
EURAUD Long JournalFollowed my NNFX system to a T. 25 February the bull candle crossed my baseline and I took it. I am now using COT and lower TF to make sure my system is in alignment. I like to see a good push in 1H and 4H TF towards the direction my system in indicating. I only added the aforementioned wrinkle to my strategy this week and am seeing some very encouraging results. For Some reason my Longs hit 70-80% while my Shorts are 30-40% lol. Anyone know why? One thing I am looking at improving is trade management . I know we want to take what the market gives us but we also want to ride a long trend but last night in the Asian and Sydney sessions my other trades hit their first TP and I thought about closing the position. I did not close the positions out, HOWEVER one rule in the NNFX is that when the $EVZ is be 6, you take profit at 1 ATR or you manage that trade like you would a EURUSD trade. Long term you can be very profitable winning 50% of the time with airtight Risk Management. Ramble over.
by Radhames6
1
USDJPY Short JournalFollowed my NNFX system. Entered this trade 2 days ago. I exited during the Asian session after setting an alert. USD pairs are really the most unpredictable currency. Most of my losses have the USD in them. Big Banks, News events, anything can happen. Anywho, my baseline saved me a lot of pips on this trade. Takeaways -I just watch USD pairs more than any other instrument throughout the day lol -I am seeing which pairs I like more than others and I have 5-10 that I enjoy. I think if you trade the crosses then you'll be alright. -You don't need an insane win percentage to be profitable. I have been profitable from the beginning in demo. Going to try out for Prop in 30-45 days. I have learned so much that I find myself taking for granted lately. www.myfxbook.com
Short
by Radhames6
EURUSD Journal: crushed Demo: I followed my system on a continuation trade for a short. The next day a bullish engulfing hit me up a little bit lol EURUSD is probably one of worst pairs to trade within the system. It's nice to see how COT said short, my system said short, and the next day said long. My Stoploss was not hit as my exit indicator helped me out. I will need to install a faster exit indicator as my use of Heikin Ashi + C2 as an exit strategy could be improved upon. I am still analyzing on MT4 and executing on TradingView. I love Tradingview and executing trades here.. I still need to learn how to execute trades with better accuracy on MT4 just for training. I am sitting above 2% for the month on myfxbook.com It's still
by Radhames6
NZDUSD NNFX Journal Demo One of my rules is to do my exits once on the daily chart. My other rule is to lose a little as possible. I went short on 2/2/2021 prior to the close of the daily candle in the NY sesssion. My system told to go short and I did. Later on that night while in the Asian session I was testing different aspects of my system I noticed that NZDUSD went well against me lol I checked my system. My C1, C2, and baseline indicated that NZDUSD went way long. I exited at 44 pip loss which was fine for me. One thing I am learning about the anything with the USD pairs/Majors is anything is war more possible than with the cross pairs. I am now learning to manage USD pairs more than I do with Cross pairs. Fun little game. I am still analyzing on MT4 and executing on Tradingview or Oanda's platform. I need to learn how to execute on MT4 because its in price and not in pips like Oanda and tradingview. If anyone sees this and has some tips for executing trades on MT4, please let me. My goal is to try out for a prop firm in 4-5 months. If anyone can elaborate please do so. Thanks for being kind.
Short
by Radhames6
NNFX Algo Journal I've been studying for several months and only as recent December did I truly start down the NNFx path. As of the writing of this Idea I am up 3% this month in my Oanda Demo account. One of the more important things that I like is the RIsk and Money management. I trade all 28 currency pairs. Since I am starting out I will often trade some of the same currency while risking less. Psychology is definitely bigger than I thought and look forward to trading real money with real implications. So far I am a big fan of the Schaff Trend Cycle as a C1, KAMA as a C2, Kijun-Sen as my Baseline, and Wadda Attar Explosion as my volume indicator. The biggest thing I am looking for is a good EXIT indicator. I have been relying on the Schaff Trend Cycle to alert me of changes in trend. I want to hone in on "Winning by not losing" and being truly ruthless on the rules I set for Entry and Exit. All of the indicators have been backtested at least 2 years. It's been a fun start.
by Radhames6
4
How to use the Oscar OscillatorOSCAR Oscillator by GenZai Green line is the Oscar Rough Red line is the Oscar By default based on the 8 last candles and smoothed using RMA Purple line is the Slow Oscar By default based on the 16 last candles and smoothed using WMA HOW TO USE Exit signaling This indicator can be used as an exit indicator when line cross each other. Entry signaling When the green line crosses up, it indicates a long entry When the red line crosses up, it indicates a short entry Overbought/Oversold When the indicator crosses the dashed grey lines it indicates Overbought Oversold Slow Oscar Add-on This is an Add-on to the orignal Oscar indicator Can be hidden if you want the original experience of the Oscar indicator. Can be used as a confirmation indicator by looking at the direction of the slope to verify is your are trending long or trending short. Can be used as a baseline to confirm signals given by Oscar Can be used to tweak your signals and test different settings. Stock or Forex? The program was originally written for stocks, but works equally well with the Forex market. How this indicator is calculated ? This is the formula we use to calculate the Oscar: let A = the highest high of the last eight days (including today) let B = the lowest low of the past eight days (including today) let C = today's closing price let X = yesterday's oscillator figure (Oscar) Today's "rough" oscillator equals (C-B) divided by (A-B) times 100. Next we "smooth" our rough number (let's call it Y) like this: Final oscillator number = ((X divided by 3) times 2), plus (Y divided by 3). SETTINGS: You can choose between different smoothing options: RMA: Moving average used in RSI. It is the Adjusted exponential moving averages (also known as Wilder's exponential moving average) SMA : Simple moving average EMA : Exponential moving average WMA : Weighted moving average The Script can be found here:
Education
by GenZai
5
ATR Bands by GenZai NNFXATR Bands by GenZai Script here: HOW TO USE: The Bands help you to position your StopLosses or TrailStops. If you trade using NNFX methodology, you want to position them using the ATR, so this indicator helps you to do so. The upper band is: the close of last candle + (ATR of last candle x ATR multiplier). The lower band is: the close of last candle - (ATR of last candle x ATR multiplier). You get the last candle thanks to the offset 1, but you can tweak this offset if you want to play around.
by GenZai
1
EURUSD D Short SetupLooking at a potential short setup on EURUSD D: Type: SHORT Entry: To be determined/tentative (market closed) SL: 1.10706 TP 1: 1.09768 TP 2: 1.08941 (continuation trade TP/target) Invalidation: Close above the baseline or a hard close under 1.10026 (purple marked horizontal line) C1: Valid. Megatrend is red/bearish. C2: Valid. RSX is below midline and LSMA-D is falling and below 70. Exit Indicator/Gatekeeper: At critical juncture - if blue line goes through green, short is greenlit. Blue line = fib wavetrend Red = medium term fib ma Green = long term fib ma/base However since they're both just under 0.618 fib, probably of bounce cannot be ruled out. Slow wavetrend (gray) has not crossed down 75 or started to curve down. 12HR Volume Profile POC (white) is below 1D POC (gray) - making note to monitor if POC levels change or flip.
Short
by auroagwei