***Please read this first post properly, yes this one! Please read the whole thread before posting a question that has already been answered multiple times!***
***PART II OPENED!***
***STRATEGY UPDATED! 09/08/2018 - #4224***
Hello everyone I'd like to welcome you to my thread. I want to share with you a great strategy that I have been trading for over one year now consistently. I have had pretty good success with this strategy, and providing you follow ALL the trade rules of the strategy you can also have good success.
This strategy is based off of trading trend reversals. It requires you to be very patient, and calm as confirmed set ups are few, but when there is a confirmed set up it will be profitable most of the time. There are 4 main indicators that are used for this strategy.
We will trade mainly on H4 chart, although H1, and D1 time frames can also be used.
It is very important to make sure that all the indicators are in agreement for a confirmation of a trade, if not then it will reduce your probability of success.
Setting the SL & TP levels is a personal choice. For me when I do set a SL, I would normally set my SL at the previous swing high or swing low (previous ZigZag Arrow) and, check pivot levels. I also pay close attention to price action. The TP can either be a fixed target (+50-100 pips) or using Fibonacci retractment, % ADR, or when there is a new confirmed opposite signal to get maximum pips. You can also set a trailing stop after a predetermined min amount of pips made, and then move SL to BE etc. I will monitor the price action the majority of the time, and get out if I see the trend is changing, and a new reversal forming. Please see below the trade rules:
Rules to buy:
- A green ZigZag Arrow will appear.
- The Turbo JSRX indicator was/is in the oversold zone (Below the 30% level) and indicating a green uptrend.
- The price will hit and/or be within the pivot level zone (0-25 pips) levels, S61, S78, S100.
- When the candle crosses, and closes above the 10 EMA up from below, and only if the trade is still confirmed by the 3 indicators.
Rules to sell:
- A red ZigZag Arrow will appear.
- The Turbo JSRX indicator was/is in the overbought zone (Above the 70% level) and indicating a red down trend.
- The price will hit and/or be within the pivot level zone (0-25 pips) levels, R61, R78, R100.
- When the candle crosses, and closes below the 10 EMA down from above, and only if the trade is still confirmed by the 3 indicators.
So basically when all 3 indicators have confirmed a valid trade, and are all in 100% agreement with each other according to the rules, and the candle crosses, and closes above or below the 10 EMA, an order is validated, and opened.
It is also very important to monitor price action. Sometimes there will be a big fast move with the current candle shooting through the EMA, in that case I would not wait for the current candle to close, and I would enter straight away to catch the rest of the move. Do this at your own discretion!
This strategy works well, and I encourage all of you guys to try this strategy, and please share your results with us here in the thread. I know that this strategy can be very profitable for everyone. For now let us enjoy trading, and collecting more pips from the market!
Please subscribe to keep updated with all latest developments of this strategy.
Please give me your feedback, and lets all enjoy success from this strategy. Green pips to you all.
---> If you have any questions, and or something is not working correctly, please refer to these posts:
The EA has an error/bug: https://www.forexfactory.com/showthread.php?p=10657522#post10657522 The EA is not trading: https://www.forexfactory.com/showthread.php?p=10764025#post10764025 I have different signals than on the TE: https://www.forexfactory.com/showthread.php?p=10909842#post10909842 Something is wrong, and the EA isn't working properly: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 I have a question about the EA: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 The thread has too many pages to read: https://www.forexfactory.com/showthread.php?p=10902480#post10902480 I haven't read the whole thread, and I have a question: https://www.forexfactory.com/showthread.php?p=10902480#post10902480
Simple Daily Trend Reversal Dashboard EA
The SDTR EA originally developed by ebeckers has been discontinued temporarily. Due to the poor results of the EA, and also that the strategy has been recently updated, it has been removed. We are currently working on a new EA with the updated strategy rules. It will be released for testing soon. Stay tuned!