- May 5, 2019
- Posted by: Forex Wiki Team
- Category: Forex Trading System
This put up will likely be for future updates...and will clarify the premise behind this thread.
Please don't put up non associated data, we'd like this to remain on monitor and clear to observe.
The system is comprised of the consecutive candle indicator for 2 confirmations.
Then there's a second affirmation indicator.
There's a baseline to filter additional.
Lastly there's a quantity/volatility indicator.
Instructions;
For a commerce we first want Williams %R to go above -20 line or under -80 line.
Then we'd like the consecutive candle indi. to print an arrow in our desired route (if we're above the -80 line we search for a down arrow, under -20 line we search for an up arrow).
Then we'd like the indi. to print a candle with a dot (ideally with a decrease/increased shut than arrow candle).
For this to be a sound sign we'd like 3 issues.
1/ Williams % to now transfer under -20 line or above -80.
2/ Williams % to be under the 55ema (set to first indicator information) for a promote or above the 55ema for a purchase.
3/ Volume/volatility indicator is yellow or inexperienced (gray=no commerce).
If all of the above is met we will commerce within the desired route.
The next chart exhibits a purchase and a promote following all of the above guidelines. Exit is shut of a candle when Williams%R crosses the other -20/-80 line.
Numbers in yellow containers are pips gained within the respective trades.
SL is as much as person...I'd counsel a protecting one solely.
Chart is 1hour.
There are some nuances to the confirmations...If we get a sign to commerce however the quantity/volatility indicator doesn't agree we will nonetheless take the commerce if one other candle with a dot prints and quantity now agrees. It is a legitimate sign so long as an reverse arrow doesn't present up. If it does then we don't commerce. We should then watch for a full re-confirmation from all indicators. See under;
1/ Williams %R goes under -80 line
2/ Commerce to purchase is confirmed by all indis. however quantity bar is gray (no commerce).
3/ An reverse arrow prints...now we watch for an entire new arrange.
4-5/ A complete new purchase is confirmed however once more quantity is gray (no commerce).
6/ One other reverse arrow prints...now we watch for an entire new arrange.
7-8/ A complete new arrange is confirmed and this time the quantity bar is yellow/inexperienced...so a purchase commerce is executed.
9/ Exit commerce after shut of first bar the place Williams %R is above -20 line.
One other nuance is when the affirmation candle closes and Williams%R is already above/under the -20/-80 traces, then there isn't any commerce.
The Williams %R is present in MT4 underneath oscillators set to 100.
Place a 55EMA on the Williams%R and select "first indicators information" from the menu.
The Consecutive Candle I'm utilizing is V1-02 set to default. There are different variations on the "My Final Humble Request" thread in Platform Tech discussion board.
Right here is the Volume/volatility indicator.
[emaillocker]
Right here is the Consecutive candles indicator
The opposite 2 indicators are in MT4---Williams%R and a 55EMA
Lastly right here is my template
[/emaillocker]
I'll put up some charts with examples within the subsequent few posts. They are going to heart on XAUUSD 15min to every day charts. I may even be testing the opposite XAU pairs on the every day and WTI, however these I'll solely be plotting trades and not really buying and selling.
Huge Thank's To / 
cfudge
