How to Apply the Trend Catcher Chop Filter Indicator to the Chart and Trading Rules to Help Filter Out Chop

#36

New upload with template. Try updating again.

#37

Regarding fifo this is one of many stupid rules post 2008 that where made by people who have never traded forex.

The net result is the same no matter what order is closed first so its literally pointless.

This rule has zero impact on futures.

The rules state that if a previously entered position is of a different size than later positions, it is not subject to the FIFO rules.

This is the key to not having to deal with it. Different size.

Vary each position by a nano or micro lot size and the positions to not be subject to fifo

Ie 10100 or 11000 ot 9000 or 9900 or 10000

You could enter all these without any being subject to fifo. Which just confuses people and is easily avoided.

This should resolve any issues you have regarding fifo and forex. Not an issue on futures.

#38

There is a tc short followed by 2 back to back short elevators. If you trailed with mvp predictor trail profit exited a bit lower. Then a new tc short happened on the right that is a valid entry.

I hope that answers your question?

If this does not answer your question, plase mark on the chart specifically where your questions applies.

#39

WOW! I didn’t know that about the FIFO rule. Learn something new everyday. Thanks Darrell!

#40

Yep, that answers it. Thanks again. :smile:

#41

Hey everyone, had a couple of questions. The chart below should illustrate them pretty clearly and I’d appreciate some feedback. Thanks!

http://content.screencast.com/users/travishawkins/folders/Jing/media/9dec5733-655c-4c63-ab7e-95cd44e183d6/NQ%206-1-15%208_30am.png

#42

Also, when in a Trend TC trade… after an elevator or slingshot setup (whether valid entry or not), do you adjust the stop from the predictor arrows to above the high or low (depending on trend direction) of the elevator / slingshot bar? Would it be 1 tick or 2/3 ticks?

#43

The rules are the most conservative rules for “getting started”. Once you get the rules down. Get down magnet levels and deviation ranges etc… you will be equipped to add in more of the entries as you know how to identify them and where the market is going to and where it will oscillate.

you have a short TC with chop filter - would have won but stopped out - drawdown would have been large better to take a small loss and make it back fast than risk more and take 2 or 3 trades to make it back.

a short elevator would have won (marked as won)

a slingshot may have won dont know exact ticks on screenshot (my caution is that was right into settlment where the market will usually oscilate. I would prefere a short entry under it versus right into it)

a short elevator - would have won (right at settlment)

a short TC after an MVP - yes i would have taken it (Under settlement)

a short slingshot would have won (incorrectly said it was an elevator)

and short slinghot - would have won

a short slingshot would have lost

a long tc witch chop filter entry - would have won

It looks like your really starting to identify the entries and understand the stops now expand your profits by mastering magnets and learn what entries to filter and take by using them in conjunction with deviations.

Great job!

#44

Thanks for such a thorough reply, Darrell! I appreciate it!

#45

Once you have a Cyan arrow followed by a confirmed solid arrow either direction… Should you wait for the bar to finish forming as in the high or low of the bar before entering? Because sometimes you get a confirmation but the bar hasn’t reached its high or low and it can go against you so should you wait for the third bar or am I missing something? Sort of asked this question in the elite room yesterday.

#46

the green red arrow forms after the bar has been exceeded by a tick - i enter ie x ticks above bar high or low on green/red arrow bar as i need to see status of chop filter before entering on a TC with chop filter entry.

#47

this is so great video i don’t say i get everything as newbee but i really get most sense of this system actually

#48

Is this the MOST RECENT setup for the current way we are to setup Trend Catcher???

For some reason I don’t feel like it is??? Cause when I use the Template shown to use above…

  1. It doesnt seem like all the indicators are in the template right away???
  2. The setup in the backend of the indicators doesnt seem up to date???

Unless… Are you saying that the template that does load from the template drop down list (_TrendCatcherChopFilter), Has to be changed according to the images above that have the orange highlights and orange arrows???

I’m NOT 100% if the Template is ready to go (besides for changing bar size or trend catcher period), OR… if there are changes that need to be made???

If there is another link, page, or template that is current and up to date… Could you lead me to the right area or post it here??? I’m NOT sure if it is current since this was posted 3 months ago. I think right around the time when everything was being switched from the old & original Trend Catcher with Confirmation and Stats???

#49

This is the current, most up to date post. I change it as things are updated. You are in the right place. I am pretty sure there are no real template changes. Double check the settings in the template with what it says to set them.

#50

So way above in this thread… where it was posted 95 days ago, ALL images are current???

I’m looking at the 7th, 8th, and 9th image down from the top of this post. (where it shows the backend parameter settings… ORANGE Arrows & Orange Highlights on what needs to be changed).

I just want to make sure i’m in the right area since this post was made a long time ago. Cause I did notice in those images it shows to make the predictor arrows “Transparent”??? I’m assuming that I am to do that since I will still have to put the “Diagnostic MVP” and they won’t overlap and confuse me??? This is why I did’t think the Template to use from the drop down was ready to go, since there is allot more prep work to the template???

If they are the current settings (in images 7,8,and 9), then maybe I’ll just create my own template??? cause there are are indicators that I still want on there that are NOT currently there, such as deviation Levels, expected Volume, etc…

THANK You for Confirming for me!!!

#51

Yeah, more important to look at date of last update than original date. There may be subtle differences on template because I may have had a different toolkit loaded when getting the images or I may have a different color loaded in, etc. But the information is current… :slight_smile:

#52

How is your mvp predictor line really close to the trend catcher trend line. Mine is really far out is there a setting to set it to?

#53

Should I have just loaded the template?

#54

Yes if you just load the pre made Template you should be good to go! :slight_smile:

#55

MVP arrow is further out then TC automatically.