I am hoping someone can help me here because in my back test and live test, the results I get are almost unbelievable.
No need to tell me that the indicator repaints and is useless, I know this and it still seems to do very well. This is the system.
Using a TMA on the current TF and a TMA on the next higher TF, once the lower TF TMA crosses the outer band of the higher TF band(signalling a reverse trade setting up), then our Stop-Reverse indicator triggers us into the trade, we enter targeting the other side of the higher TF TMA band. Our stop should be some pips beyond the previous swing. (depending on time frame we are looking at)
So the first thing would be to alter 1 x TMA indicator so it automatically adjusts to the next higher time frame. Then have an alert once the lower or current TF TMA crosses its band. From there we enter on Stop-Reverse signal. And lastly we monitor the trade until stopped out or other side of the higher time frame TMA band is hit....
Here is a picture of a typical trade. This method work well on 1/5min charts and even better on 5/15min charts but monitoring the trades is the difficult part. I hope someone can help me with it. OR, if something is not right and I am wrong with this, please let me know.
http://i41.tinypic.com/2w2hn6h.png
http://i42.tinypic.com/118oqj9.png
Thanks, jt
No need to tell me that the indicator repaints and is useless, I know this and it still seems to do very well. This is the system.
Using a TMA on the current TF and a TMA on the next higher TF, once the lower TF TMA crosses the outer band of the higher TF band(signalling a reverse trade setting up), then our Stop-Reverse indicator triggers us into the trade, we enter targeting the other side of the higher TF TMA band. Our stop should be some pips beyond the previous swing. (depending on time frame we are looking at)
So the first thing would be to alter 1 x TMA indicator so it automatically adjusts to the next higher time frame. Then have an alert once the lower or current TF TMA crosses its band. From there we enter on Stop-Reverse signal. And lastly we monitor the trade until stopped out or other side of the higher time frame TMA band is hit....
Attached File(s)
TMA (1).ex4
10 KB
|
613 downloads
Attached File(s)
TMA (1).mq4
8 KB
|
673 downloads
Attached File(s)
MT4-LevelStop-Reverse-v2.ex4
8 KB
|
557 downloads
Attached File(s)
MT4-LevelStop-Reverse-v2.mq4
16 KB
|
622 downloads
Here is a picture of a typical trade. This method work well on 1/5min charts and even better on 5/15min charts but monitoring the trades is the difficult part. I hope someone can help me with it. OR, if something is not right and I am wrong with this, please let me know.
http://i41.tinypic.com/2w2hn6h.png
http://i42.tinypic.com/118oqj9.png
Thanks, jt
"Even if you fall down face first, you still went forward."