Please, don't trade with FXCH
Hello Trader Vick... in regards to FXCH, is good you have a demo account with them, but by all means DO NOT OPEN A LIVE ACCOUNT.. you can read about all the warnings from traders here..
Much success to you.
Thanks for the great system bo7a
im wondering why people won't progress this thread since 2007 to an ea..
but in second thought i see why.. because this is a great system that works beutifly for 3 years already
a real genius bo7a!
CCI indicators for this system
This is just an add on to make things a little easier. Great for alerts.
The three EMAs, 7, 15, and 90 are represented by the blue, yellow and magenta lines on the chart.
Same colors for the three CCIs in the subwindow.
Now for the rules.
Rule 1- PA should Above EMA90
Rule 2- PAabove EMA7 and 7EMA above 15EMA.
Rule 3- Entry - Wait for PA to retrace back to 7 EMA then enter provided Rule 1 and 2 are intact.
Once filled, Set SL and TP , specially for US accounts.
In the subwindow are three lines of the same color as the EMA.
If the the Magenta and the Yellow are above zero, and the blue is below zero, get ready for a trade. That is the retraces of 7 ema rule 3 for entry.
Enter Long when it crossed zero from below.
Reverse for Shorts. Yellow and Magenta below zero. Blues crosses zero from above. to enter short.
The blue vertical lines meet all rules for Long. Red - short.
Good part about the CCI indis is the cross of the =/-100 lines. If the Magenta is above 100 , yellow is above zero and the blue crosses zero from below, the probability of trade being profitable increases.
The simplest way to trade this indicator is if all lines are above zero and increasing in value, go long- reverse for short.
In the second chart the ema values are changed to 7, 50 and 200.
Which will yield lesser trades but more profitable, 200 and 50 emas are used by a whole lot of people.
Anytime an EMA is used, the cci of same period will offer additional insights of the interaction between the the PA and the EMA. Read up on Baby Pips and wiki.
Please Note: the price used by the cci has been changed to "PRICE_CLOSE" and is similar to the EMAs on the charts.
For lesser stress, change to "PRICE_TYPICAL" and recompile.
Is this strategy still active and gives good results?
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