Is the chop filter used with the 5 min binary?

#1

is the chop filter used with the 5 min binary?

#2

Currently we only use the new Chop Filter for the Elite Trend Catcher system, but we are currently doing some tests to see if there is benefit to it on the 5 and 20 minute binaries as well. We will keep you updated! :slight_smile:

#3

ok thats what I thought…just wanted to make sure

#4

I’m also interested in using the filter on 20-min binaries. I have it loaded and it seems that it helps keep you in a trade thru minor direction flips. What settings would you recommend as a place to start? Thanks.

#5

If you see something share it. Thats the whole goal of the community. We trade better together sharing. Traders helping traders.

#6

In the webinar I think you said the Chop Filter should be 2 times the period of the Trend Catcher. You used 7 & 15 for your charts. The original BinaryTC3tick template used for 5 & 20 min binaries has TC measurement period set to 10 so I set the Chop filter to 20. It seems a good place to start. Thanks. Since I’m new here if any of this is not correct, let me know.

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#7

This morning in my NADEX demo account I made 8 trades, 6 winners & 2 losses. I also made 1 butterfly trade w/ both legs winning for a total of 10 positions. I traded 1 ITM contract except for 1 trade where someone left 10 contracts open like a big fat softball. Total winnings = $49.60.

I used the settings for Trend Catcher & Chop Filter described in my previous post.

I used a modified version of the Trend Catcher rules as follows:

  1. Trade in the direction of TC.
  2. Bar timer < 3-min.
  3. Bar after signal bar in direction of TC.
  4. APEX pattern in direction of TC.
  5. Chop filter in direction of TC within 1 or 2 bars of signal. ALL 5 rules had to agree. See charts w/ notes. There where some trades that might have been profitable but not all 5 rules lined up so they where not taken. I broke the rules once which I will explain later.

Comments & suggestions appreciated.

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#8

The trade where I broke the rules occurred about 11:37 shown on the third chart. APEX was green TC red and CF red. Under the rules I was using this would be a pass., however I noticed that on the NADEX chart the Price had dropped 3 strikes in 5 min. This left a high probability trade open for a brief time while the market makers caught up. Some times you just need to read the charts and jump in.

#9

Nice post man great job!!! Thank you for sharing!

#10

Today I only made 3 traded following this system, 2 trending & 1 butterfly (all winners). Instead I spent most of the morning on making sure all my charts and workspace where set the way I wanted. Thanks to your help on several posts I have everything working (fingers crossed). I am using a 2 monitor system, which is perfect for the four 20-min binaries, see attached screen shot.

I have all alerts turned off except Trend Catcher audio. When I get a TC preliminary (cyan) alert I enlarge the chart. If TC matches APEX (green/green or red/red) I check the other indicators, if not (red/green) I move on. When all 5 agree, which can take several bars for CF to confirm, I enter, always ITM.

With limited testing, this seems to be working well.

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