- August 6, 2019
- Posted by: Forex Wiki Team
- Category: Forex Trading System
Time Frame: M15 (only) || Expiry: 5-15Min || Platform: MetaTrader4 (MT4)
Assets: Any (especially Currency Pairs)
Note: even without using any optimization tips or additional filter, this system is tested
and found to be scoring an average win rate of 70%+ consistently. Just ensure that you
are patient enough to wait for the candle to retrace to its opening price OR get those
signals that come immediately a new candle is forming. Try other expiries too.
Signal Optimization Tips
Do not trade 30min before and after medium-high impact news
If the candle with arrow has a long wick in the direction of the arrow, skip the signal
Avoid trading when candles forming so tiny or too large
If possible, do not trade for 30min from when markets or sessions open
If you can, do not trade CALLs into Resistance levels and PUTs into Support levels
Don’t chase signals. If you cannot get a good entry price level, skip the trade
TRADING SIGNALS
CALL Signal
1. A DeepSkyBlue Up Arrow appears below the previous Candle. The candle with the
arrow is touching the Blue MA, nearly touching it or even below the MA
2. The Yellow Moving Average (MA) is above the Blue MA; both are pointing up
3. The current candle has just started forming or has retraced back down to its opening
price (or very close to its opening price)
4. Enter a CALL trade to expire at the end of the 15Min candle. This could be x:15, x:30,
x:45, or x:00 where x is the current hour. Alternatively, if your Broker allows you to
enter the exact expiry time, enter that period in minutes. For instance, if the steps 1
and 2 are valid when the current candle has 7 minutes remaining (check candle
timer), then you enter 7 minutes as you expiry time.
PUT Signal
1. A Magenta Down Arrow appears above the previous Candle. The candle with the
arrow is touching the Blue MA, nearly touching it or even above the MA
2. The Yellow Moving Average (MA) is below the Blue MA; both are pointing down
3. The current candle has just started forming or has retraced back up to its opening
price (or is very close to its opening price)
4. Enter a PUT trade to expire at the end of the 15Min candle. This could be x:15, x:30,
x:45, or x:00 where x is the current hour. Alternatively, if your Broker allows you to
enter the exact expiry time, enter that period in minutes. For instance, if the steps 1
and 2 are valid when the current candle has 12 minutes remaining (check candle
timer), then enter 12 minutes as you expiry time. Experiment with other expiries
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