Hello all,
I want to introduce a new method of trading. It is based on selecting the Strongest vs Weakest currency. As you know that forex trading is based on comparison of two currencies. So more stronger the base currency and more weaker the quote currency or vice-verse there will be more profit you can make. So if you pair the strongest vs the weakest you get the most profit out of this trade. I have tried it as scalping strategy. For detailed understanding of the theory behind this system refer to this article: http://theforexheatmap.blogspot.ca/2...s-of-spot.html. In this article, the most important line is "99% of trading systems are built upon the individual pairs NOT individual currencies, that is why majority of systems fail".
Everyone should try this strategy on demo and share the results here.
I will be using two indicators:
1. Forex Heat Map
2. Super Trend
Open following timeframes of Forex Heat Map indicator:
1. M1
2. M5
3. M15
I open M1, M5 &M15 on a single window which also has the chart on it. On the other window I open H1, H4. You may toggle the screen by pressing Ctrl+ Tab.
Entry:
1. Start from H4 and H1 see which pairs are the most green and most red (meaning red and green). This is to make sure you get the bigger picture.
2. Look at M1 & M5 and M15 to look for the strongest pair (7 or 6 lime /green colored horizontal bars on Super Heat Map) & the weakest pair.
3. Now pair the strongest currency weakest currency
Exit:
1. When the strongest starts to become weak (most signals turn red) and weakest starts to become strong (most turn green).
Example:
In picture below you may see that NZD is strongest and CHF is the weakest. So, BUY the NZDCHF.
P.S. I want the volunteer MQL programmer to code another wonderful indicator which I have requested here:
http://www.forexfactory.com/showthre...079#post615207
Suggestions and recommendations are warmly welcomed
And we can bring a one of the greatest system if I get the indicator that I have asked for, I assure you about that.
I want to introduce a new method of trading. It is based on selecting the Strongest vs Weakest currency. As you know that forex trading is based on comparison of two currencies. So more stronger the base currency and more weaker the quote currency or vice-verse there will be more profit you can make. So if you pair the strongest vs the weakest you get the most profit out of this trade. I have tried it as scalping strategy. For detailed understanding of the theory behind this system refer to this article: http://theforexheatmap.blogspot.ca/2...s-of-spot.html. In this article, the most important line is "99% of trading systems are built upon the individual pairs NOT individual currencies, that is why majority of systems fail".
Everyone should try this strategy on demo and share the results here.
I will be using two indicators:
1. Forex Heat Map
2. Super Trend
Open following timeframes of Forex Heat Map indicator:
1. M1
2. M5
3. M15
I open M1, M5 &M15 on a single window which also has the chart on it. On the other window I open H1, H4. You may toggle the screen by pressing Ctrl+ Tab.
Entry:
1. Start from H4 and H1 see which pairs are the most green and most red (meaning red and green). This is to make sure you get the bigger picture.
2. Look at M1 & M5 and M15 to look for the strongest pair (7 or 6 lime /green colored horizontal bars on Super Heat Map) & the weakest pair.
3. Now pair the strongest currency weakest currency
Exit:
1. When the strongest starts to become weak (most signals turn red) and weakest starts to become strong (most turn green).
Example:
In picture below you may see that NZD is strongest and CHF is the weakest. So, BUY the NZDCHF.
P.S. I want the volunteer MQL programmer to code another wonderful indicator which I have requested here:
http://www.forexfactory.com/showthre...079#post615207
Suggestions and recommendations are warmly welcomed
And we can bring a one of the greatest system if I get the indicator that I have asked for, I assure you about that.
Attached File(s)
Super Duper Scalper.zip
4 KB
|
3,128 downloads