It could be coded for MT4 or you just use Fibonacci Trader. Dynamic Range or Dynamic Fibonacci Range, set at a period of 5 for daily, and 3 for weekly and monthly.

GBP/JPY daily I think......

Obviously Im not Frank but what I understand is that as long as price is below the 5 day 50% (pivot) and below the weekly 50% you use the daily as a trend guide and are only looking to go short.

Band settings I think are shown on the chart, 14,2. 14 period with 2 standard deviation perhaps.

Thank you very much shrike, I took a stupid pill and couldn't find that window, but is all good now.

mdetlh thanks for that reply, I was mostly looking for a way to show these rates or at least understand what the buy prem/sell prem is displaying so I can understand it. I find it annoying to have to enter demo trades to display these numbers, is ...

Can someone please help clarify something for me, yes its about swap rates if thats the correct term. I asked EFX support was referred to their website which just showed how to calculate them but not the actual rates, but I did see the BUY PREM and ...

This is great hanover, just found out about the script now. Many thanks.

The 2nd hour after Tokyo open. All winning trades were taken in the direction of the 30second chart. image

Yes I notice it was flat now LoL It's a learning process which is why I am taking screenshots, thanks for the feedback.

Tokyo open for 1 hour. Thank god for demo accounts. image

Tokyo open for 1 hour. The way its moving now it would be hard not to pick some good setups Typical happens just after I quit for the day.

Long way yet....... All trades taken from Tokyo open for 1 hour. Commission not included. image image image image

Went with gbp/usd and grabed a few pips, was watching eur/jpy and saw it took off.... still going, very nice move and Im sure quite a few here jumped in. Move down after the big run up.

Agree completely which is my view on the 6min or anytime rule you use. To me it means nothing is happening so I bail. Yes that setup did turn out to be a good run if you had hung in there.

Where does it say for a fast market? In a fast market if you picked the wrong direction or the market turned against you, you would probably bail much sooner than 6 minutes.

-0.4 here after spread. Closed due to 6min rule, but continues to drift down.

Monarch thank you for the posts and explanation. I am sure many people will find it extremely useful to compare with how they read waves etc.

My attempts at eur/jpy today from Tokyo open for 1 hour. Blue lines = buy (open/close) and red = sell (open/close) . All I can say is there's a long long long way to go yet for me image image image image

Try this.