- November 8, 2017
- Posted by: Forex Wiki Team
- Category: Forex Trading System
Daily System With BBands + MACD + Currency Strength
That is NOT a 1000 pips per day system or make thousands and thousands in a few months system. It is a buying and selling system I’ve been engaged on for about 2 months now whereas performing some enhancements and nice tuning to the system and the EA you will want for it
DO NOT count on all trades opened utilizing this method to be worthwhile as we are going to for positive have some dangerous trades. Nevertheless, this method ought to be general worthwhile and yielding extra worthwhile trades than shedding ones
DO NOT count on to have 100 trades open per day
This method can be utilized as basket system and in addition as per commerce as much as you
Particulars on how the system works and the way it reached its present state
Some boring background on how the system got here to be :
The system primarily depends on BBands which is one among my favorite indicators that I’ve been utilizing in all my buying and selling methods for someday now. However in fact as many every other indicator it gave false alerts greater than I want to see and in addition carried out very badly in ranging markets. I began utilizing greater TFs to verify my sign, ( instance : Solely take a commerce if BBands was giving the identical sign on 15M – 30M – H1 charts )
I attempted many combos and TFs however nonetheless was lacking some kind of filter, and so after attempting many indicators alongside BB I discovered MACD to be the most effective one I’ve tried with it.
I used to be additionally all the time amazed by forex energy meters and I believe I’ll have tried each single model out there of them on the market and in working with forex energy meters I seen that every forex pair is just not in a world of its personal however quite all pairs are some how working collectively. ( instance if GBPUSD was in an uptrend transfer I’ll discover EURUSD, NZDUSD, AUDUSD and so on.. additionally on an uptrend whereas USDCHF, USDJPY and so on.. on a down development ) and that made me perceive that it is the energy of a sure forex ( many of the occasions influenced by large impression information ) that determines the overall motion of a pair
It solely made sense for me to merge each collectively in a single technique since I am a giant fan of each and have seen them each work very properly
How the system works :
Three filters work collectively to eradicate as many dangerous trades as we will
1) A quick BB + A sluggish BB to present the present basic route and development of the pair
2) MACD to verify the development and route and in addition to keep away from getting in a commerce throughout reversals or divergence
3) FXM Diff Currency Strength Indicator to point out the most effective time to take a commerce when the energy of the pair is in the identical route as BB and MACD. It is also very helpful for re-entries in a robust lengthy lasting development after pull backs and reversals.
And this can be a assertion to point out how this technique is performing the previous couple of weeks however earlier than you have a look at it you could know these factors :
1- I’ve been attempting many combos between settings for the three indicators used and what you see under is all of them mixed not simply one among them
2- The assertion goes solely again couple of weeks as a result of that is once I was carried out having a secure model of an EA to work with them not simply fixing errors and bugs I encountered
That is the results of a number of the combos alone I discovered working properly ( Once more goes again for a few weeks )
P.S : AIO means all time periods mixed
Why Did I create this thread ?
1) This thread was created to take it as an opportunity to listen to suggestions and solutions from different members right here and do my greatest to implement these concepts into bettering the system and eradicate as many dangerous trades as we will
2) I additionally get pleasure from coding and want to problem myself into including increasingly more choices and concepts to the symptoms and EAs I made
3) The EAs and indis I made ( and solely them not those by different Authors ) have an expiry date of 2 weeks and I intend on always updating with new variations that can have longer expiry dates AS LONG AS THERE IS INTEREST AND ACTIVE MEMBERS CONTRIBUTING. THE EXPIRY DATE IS NOT TO SELL IT LATER BY ANY MEANS AND THAT IS A PROMISE. With that being stated I perceive rather a lot might not like that reality and relying on how the thread will likely be obtained I’ll take away it utterly.
4) Why did I put an expiry date to start with ?
As a result of I’ve created earlier beta variations of comparable EAs and Indicators and helped different members in making private custom-made EAs primarily based on their wants with out listening to a single phrase from them ever once more as soon as they obtain the goodies. Most do not even hassle reporting any bugs that I do know for positive exist or something.
Lets repeat that once more : The EA and Indis I created have an expiry date and I defined above why. Nevertheless I intend on updating them on common foundation and lengthening the expiry date as we go or possibly even take away it in any respect
The Professional and Indicators and Scripts wanted for the System
VIP 1 : YOU MUST YOU MUST YOU MUST set up the script ( LoadHistory-1 script ) earlier than you connect any of the symptoms or the EA or the templates or else it’s possible you’ll get zero divide errors and false alerts
VIP 2 :
1) MACD ( Already included in your terminal )
2) BBands ( I do not know the writer however whoever you might be it is wonderful )
3) FXM Diff ( Massive Shoutout to : FX Insanity for creating top-of-the-line if not the most effective Currency energy meters on the market )
4) A easy ( and ugly ) indicator I made to point out you the present state of MACD and BBands for 5M and 15M mixed ( Hoping I could make it extra visually appearling sooner or later ROFL ).
5) An indicator to research your buying and selling efficiency that I made to assist present you the most effective occasions you need to commerce in ( I’m planning so as to add extra options to it )
6) ATR in pips ( Do not know the Writer however it’s a easy but very helpful indicator )
7) An EA I made to open and management trades primarily based on numerous settings
8) Varied templates with EA and indis settings
P.S 1 : Your indicators and EA MUST be on 15M charts
P.S 2 : The primary alerts you get as soon as you put in the symptoms could also be false so wait no less than 15-30m earlier than you allow trades with them
EA Settings Defined
– Magic :
Select a singular quantity for the EA to open and deal with your trades. ( It should be totally different than every other magic quantity you may have for every other EA on the identical terminal )
– Pair Repeated :
What number of occasions would you like the identical sign for a similar pair to be repeated within the FXM Diff indicator earlier than the EA opens an order ( Solely make it greater than 1 when you have a number of situations of FXM Diff with totally different choices )
AUDNZD is repeated 2 occasions
EURNZD is repeated 2 occasions
GBPCHF is repeated 1 occasions
So in the event you selected repeated = 3 the EA won’t take any of these alerts however in the event you selected repeated = 2 it’s going to take AUDNZD and EURNZD and never take GBP CHF. When you selected repeated = 1 it’s going to take all of three alerts
– Time to start out and Time to cease :
They MUST be in GMT ( Within the EA it tells you what is the present GMT time and your present dealer time to make it east for you ) and it additionally should be on this format : 700 or 1700 or 1530. When you make it 15:30 or 7:00 or 7:00 AM it won’t work.
Additionally do be aware that the EA won’t open trades on the open time and shut all trades at cease time. However quite the EA will begin checking alerts from the beginning time until the cease occasions
– Per Commerce Choices :
That is the place you management your TP and SL and TS for every commerce the EA will open
– TP / SL mode :
When you selected : Exhausting TP SL — It will simply put SL and TP and TS primarily based n the variety of pips you determine
When you selected : Issue of ATR — It’ll verify the DAILY ATR OF PERIOD 14 after which take the TP, SL, TS as an element of that.
Instance : When you selected the TP issue to be 0.25 meaning your TP = 0.25 * DAILY ATR OF PERIOD 14 OF THAT PAIR
– Allow Basket mode :
P.S : All basket settings are in $ and never in pips
If set to true the EA will deal with all opened trades as one basket and shut all of them once they attain the degrees of TP and SL you select
If set to false the EA will deal with every opened commerce as its personal with the TP and SL settings you assigned for them from above
– Allow Basket Issue ( Calculated in $ and never pips ) :
If set to true your basket TP and SL will likely be calculated primarily based on what number of trades are open. Instance, in the event you selected TP issue = 2 and there are 10 open trades then your Basket TP = 2*10 = 20$
If set to false then your Basket TP,SL,TS will likely be taken from the choices you entered above
– Allow Basket Lock Revenue :
The lock revenue right here is just not meant to shut some trades or partial heaps out of your trades however quite alter your SL to a sure stage.
Instance ( When you set your Lock revenue to 10 and your lock revenue issue to 0.5 )
As soon as your complete revenue reaches 10$ or greater that EA will transfer your SL to 10$ * 0.5 = 5$
Meaning no matter occurs subsequent your SL will stay at 5$ till your complete revenue drop to 5$ or attain the second Lock Revenue stage
P.S : When you allow Lock revenue it’s going to auto-disable Basket Trailstop ( Not commerce trailstop )
– Disable trades on Information :
If set to true the EA won’t take any trades for the pairs you’ll select from the choices under for the occasions you’ll select
P.S 1: The occasions should be in GMT
P.S 2 : All my outcomes posted above have been taken whereas this was set to false which implies the EA took trades whether or not there have been excessive impression information launched or not
All included templates have proven good outcomes for the previous 2-3 weeks however I personally use template 15 as i choose to make use of a number of FXM Diff settings collectively
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