UPDATE: While the described system in this 1st post is profitable I believe I have improved it significantly starting at post 34.
This system is only possible because of the use of BE. Additional MM will also go to improve the amount of money in your pocket.
The system uses only 2 indicators...they will be at the bottom of this post. Also I will post both .set files and a .tpl file.
I have three charts to post that show examples of trades, one chart will have a modified version as an option.(they are back-test trades).
The system is simple enough and has a good win rate.
The rules are as follows;
step 1 Wait for a close above/below the bands (not BB). The variation to this step is to also include a touch with a wick.(will be shown on chart examples).
step 2 Look for a candle with a dot in the direction you want to trade.
step 3 Open the trade only if it closed above(for a sell) or below (for a buy) the center line...if it touches it at all no trade.
step 4 Once a candle closes beyond the center line move to BE (this is the power behind this system).
step 5 Close a trade when a candle closes beyond the opposite band. The variation to this step is to close after a candle closes beyond a secondary set of bands (shown on chart examples). There is no SL used on these tests. I close a trade if after entering a trade a candle closes (before we get to BE) back beyond the band we are trading away from.
That is it!!!!
These first 2 charts are the Daily Gold chart (trades shown cover 4 years) and the 1M Gold chart (trades shown cover 1 full day)
The trades with an asterisk are the ones taken with just a wick touch of the bands.
I have added the results separately for each variation.
This next chart is the EURUSD Daily for 4 years trades.
It has a variation from the other charts by including a second set of bands with a smaller band deviation. These adjusted trades are in Aqua. The idea is to close on a candle that closes beyond these lines.(these secondary lines are there only to close trades).
This system is only possible because of the use of BE. Additional MM will also go to improve the amount of money in your pocket.
The system uses only 2 indicators...they will be at the bottom of this post. Also I will post both .set files and a .tpl file.
I have three charts to post that show examples of trades, one chart will have a modified version as an option.(they are back-test trades).
The system is simple enough and has a good win rate.
The rules are as follows;
step 1 Wait for a close above/below the bands (not BB). The variation to this step is to also include a touch with a wick.(will be shown on chart examples).
step 2 Look for a candle with a dot in the direction you want to trade.
step 3 Open the trade only if it closed above(for a sell) or below (for a buy) the center line...if it touches it at all no trade.
step 4 Once a candle closes beyond the center line move to BE (this is the power behind this system).
step 5 Close a trade when a candle closes beyond the opposite band. The variation to this step is to close after a candle closes beyond a secondary set of bands (shown on chart examples). There is no SL used on these tests. I close a trade if after entering a trade a candle closes (before we get to BE) back beyond the band we are trading away from.
That is it!!!!
These first 2 charts are the Daily Gold chart (trades shown cover 4 years) and the 1M Gold chart (trades shown cover 1 full day)
The trades with an asterisk are the ones taken with just a wick touch of the bands.
I have added the results separately for each variation.
This next chart is the EURUSD Daily for 4 years trades.
It has a variation from the other charts by including a second set of bands with a smaller band deviation. These adjusted trades are in Aqua. The idea is to close on a candle that closes beyond these lines.(these secondary lines are there only to close trades).
