达蒙波浪交易 (Damonl Wave Trading)

1. TF - Works on any Time Frame, but I usually trade on the M15 chart however.
2. Pairs - Should work on any pairs, but I am a gbpjpy guy and so that is what I trade it
3. Indicators and Template
   1. Template
      Attached File(s)

      m15.tpl   15 KB | 430 downloads | Uploaded Dec 16, 2008 9:17pm
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   2. Slope Direction Line
   3. WoodieCCISuper
      Attached File(s)

      WoodieCCISuper.mq4   4 KB | 454 downloads | Uploaded Dec 18, 2008 8:14am
   4. Bill Williams Alligator....I don't really use this in trading, but i have become fond of having it on my screen as a reference point. It is also good to watch price action around this indicator.
   5. Price action - you will need to know what a higher low and a lower high are based upon candlestick action, in relation to the wave change of the Slope Direction Line
   6. Bill Williams Gator Oscillator - I started using this for exit points and found it has a few nice re-entry points as well.
   7. MultiplePivotsV2 - I use Piovts, fib pivots, mid pivots and standard pivots

General Concept

Trading Continuation Waves using high/low of price action and the Slope Direction Line.

Using the "Slope Direction Line and Price Action" to determine trading direction

This line will have a few functions as far as we are concerned.

1. To determine when a new wave has formed. This is very simple. When the indicator closes "blue" it is either a continuation wave up or a retracement of a wave down. Many times a retracememt of a wave down actually becomes our first down leg reversal move which we missed using this system.
2. When the indicator closes in "red" it is either a continuation wave down or a retracement of a wave up. Many times a retracememt of a wave up actually becomes our first up leg reversal move which we missed using this system.
3. There are times when it will signal a "consilidation" wave, though by rule, these would also mean that trades would be taken.

Beginning your evaluation

The first thing that you must determine is whether you are looking for short trade or a long trade. You do this using the Slope Direction Line and the highs or lows of the last swing high or low.

Typical Short Trade Explanation

1. Have a Lower High forming
2. Slope Direction Line is or was Blue
3. CCI short crosses to the Downside
4. Gator Oscillator bar is NOT "Solid Red"
5. Enter 1 pip below the low of the set-up bar
6. Remove order if CCI crosses back against the trade direction
7. T/P is 1 pip above the bar when Gator Oscillator bar turns Solid Green
8. S/L is 1 pip above the bar when Gator Oscillator bar turns Solid Green

Typical Long Trade Explanation

1. Have a Higher Low forming
2. Slope Direction Line is or was Red
3. CCI short crosses to the Upside
4. Gator Oscillator bar is NOT "Solid Red"
5. Enter 1 pip above the high of the set-up bar
6. Remove order if CCI crosses back against the trade direction
7. T/P is 1 pip Below the bar when Gator Oscillator bar turns Solid Red
8. S/L is 1 pip Below the bar when Gator Oscillator bar turns Solid Red

Double Breakout and Go Short Trade Scenario

1. First you get a Higher High
2. Then you get a Lower Low
3. Then you get a Lower High
4. CCI crosses to the Downside
5. Gator Oscillator bar is NOT "Solid Red"
6. Enter 1 pip below the low of the set-up bar
7. Remove order if CCI crosses back against the trade direction
8. T/P is 1 pip Above the bar when Gator Oscillator bar turns Solid Red
9. S/L is 1 pip Above the bar when Gator Oscillator bar turns Solid Red
10. Trade Example can be seen on post #13

Goal of this System

My goal with streamlining this system will be to solely produce a method of trading that is based merely on price action alone. For now I will use these rules as a guide line for which to relate price action.