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-   -   Simple, proven and profitable S/R system (https://www.forexfactory.com/thread/587476-simple-proven-and-profitable-sr-system)

HCooper Apr 18, 2016 7:54am | Post# 21

Hi HC I've also had the idea in mind to only trade S/R zones. I would've manually entered my S/R zones but will definitely verify my S/R levels with the indi you provided. Thanks for indi btw.
Nice S/R zones are very powerfull tool, S/R zones together with market momentum tell us the story.

HCooper Apr 18, 2016 7:56am | Post# 22

{quote} Well thats right, why have a highlighted zone on the chart that has been broken? The point of the indicator is to only show areas that have been tested and proven.
Correct - we need to see only tested and valid S/R zones. The indi is doing a great job in this.

mades Apr 18, 2016 8:05am | Post# 23

HCooper, what means "turncoat" sup/res in indy? Possible sup-> res or vv transition?

HGFx Apr 18, 2016 8:11am | Post# 24

{quote} The indicator shows everything - whether the zone is untested, weak or verified etc. Yes, this could be a valid entry. However, the nearest support where should be TP is quite near, and I dont trade NZDCHF, but I believe that the system will perform on NZDCHF well too.
ok i have entered a trade to test it out, on demo. i noticed you use 15m tf?

EeZeeTrader Apr 18, 2016 8:20am | Post# 25

1 Attachment(s)
This is my EURUSD Daily S/R zones verified as mentioned earlier.
Not too bad what the indi does....


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HCooper Apr 18, 2016 9:35am | Post# 26

HCooper, what means "turncoat" sup/res in indy? Possible sup-> res or vv transition?
Welcome here! Correct, turncoat means that support can turn into resistance and vice versa.

HCooper Apr 18, 2016 9:37am | Post# 27

{quote} ok i have entered a trade to test it out, on demo. i noticed you use 15m tf?
Cool, let me know how it works on NZDCHF after a couple of trades. For intraday trades I use mostly M5. But I also like to watch current market situation on other TFs.

barakooo Apr 18, 2016 9:38am | Post# 28

how do I get this indicator on my platform

HCooper Apr 18, 2016 9:41am | Post# 29

This is my EURUSD Daily S/R zones verified as mentioned earlier. Not too bad what the indi does.... {image}
Nice I just love when I see the market bouncing from S/R zones with a few pips accuracy. Itīs a pleasure for my eyes.

HCooper Apr 18, 2016 9:43am | Post# 30

how do I get this indicator on my platform
Welcome here, go to MT4 -> choose file -> open data folder -> double click MQL4 ->double click indicators -> copy the indicator there -> restart MT4

HCooper Apr 18, 2016 10:28am | Post# 31

1 Attachment(s)
Here is a very nice example.

See how EUR/USD went up from the point where the indicator started drawing the S/R zone. Then there was a correction and market went down and tested the S/R zone very accurately (I highlighted it as "first test"). Then there was the second test and nice, valid and profitable entry.

Btw: the indicator counts tests only if the market closes inside the S/R zone and bounce. But similar situations are also valid for me.

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swetrader Apr 18, 2016 10:35am | Post# 32

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Nice example above!

Would you enter a short trade here?
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HCooper Apr 18, 2016 11:54am | Post# 33

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Nice example above! Would you enter a short trade here? {image}
Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thatīs exactly where we set P/T. Very nice GBP/USD opportunity

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Knez Apr 18, 2016 11:58am | Post# 34

{quote} Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thats exactly where we set P/T. Very nice GBP/USD opportunity {image}

HCooper,

is your sl always same no. of pips as target or .....?

pressok Apr 18, 2016 12:02pm | Post# 35

{quote} Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thats exactly where we set P/T. Very nice GBP/USD opportunity {image}
happy green pips
chart very clean and clear direction

HCooper Apr 18, 2016 12:23pm | Post# 36

{quote} HCooper, is your sl always same no. of pips as target or .....?
Yes, I posted the strategy in the simplest form. It is the simplest way to set SL the same amount as PT and the system performs well. But it is possible to improve here and set SL above resistance or below support. This will usually improve RRR nicely

HCooper Apr 18, 2016 12:25pm | Post# 37

{quote} happy green pips chart very clean and clear direction
Thank you men I also wish you a lot of green pips!

TechnicalGuy Apr 18, 2016 4:43pm | Post# 38

Hi Cooper,

itīs your best trading system? Sounds very good. This indicator seems great.

Thx

Kubiasty Apr 18, 2016 5:10pm | Post# 39

Looks cool. Will test tomorrow XD thanks.

chrisxhernan Apr 18, 2016 7:59pm | Post# 40

HCooper,

A week ago you started a thread with a different trading system that you have stated you concluded after many years (see link below)... So, how many systems do you trade?

http://www.forexfactory.com/showthread.php?t=586713


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