DislikedXlnt stuff, Clive. Thanks for sharing this with everyone and offering to help. This strategy is in the top three favorites of mine that I have ever come across on FF. Never traded it as I had other things I was using, but manually backtested it and, using a moving average such as 50 sma as a trend descriptor, found that it had positive expectancy. Thank you again and for Divergence for bringing the strategy to people's attention.Ignored
Just read a couple of your past posts and you're absolutely spot on with your identifying "strong trends" to trade with this system. You mention a couple of MAs that you use for this purpose. Couldn't agree more, the actual number is an individual choice. I use 100lwma's because they are very reactive plus my TTindy measures the gradient of the slope to gauge the strength of the trend as I'm only interested in trading strong trenders....
Just to illustrate this point just have a look at this chart below at the end of the day last Friday so my TTindy reading is current and you can see GBPCAD is top and the chart looks very tradable too...
Have a look at the CCI signal I've marked with a yellow vertical line, see how it signals way before price actually falls. Its a leading indicator in my opinion so I could of placed my pending order below the first red candle after the CCI signals for an awesome entry and about a 5 pip stop. The trade runs about 50 pips so not too bad an RR of 1:10...
Theres another trade about 10 minutes later as marked and this one was a 10 pip stop and a 40 pip winner.
My currency strength meter is also confirming the trade with CAD top and GBP second to bottom.
Now I'm not saying I would of traded this as its the wrong time of day but it does illustrate how effective my TTindy can be...By the way have a look to the left and you can see similar setups as price goes up the page with the 100lwma sloping steeply up and the CCI oversold signals..
bottom line find a strong trending pair and trade the flags....
Feel the Fear and do it anyway!!!