This is the first thread I’ve started and it will probably be my last, as this is the only system I use. I’ve gained a lot of knowledge during my time trading Forex and most of it was gained here at Forex Factory. It’s the best site for Forex on the internet, and I want to pay it forward a little.
This Entry Signal can be used as a stand-alone system, or as a confirmation to your own systems. It’s simple and it’s accurate. I won’t be posting Take Profit or Stop Loss rules. These are left up to your individual trading styles.
Don’t start asking for proof of success with this system. It is successful, but everyone’s trading style is different. Two people can trade the exact same system and come up with completely different results. Some are more aggressive traders, some are playing with scared money, etc., etc. If it is of interest to you then test it out, and use it if the results are good. If it isn’t of interest, then find something that is.
I am not on this site, or many others, very often anymore so if there are questions it may take a while for me to get back to you. And I don’t really see why there should be questions anyway, as it is simple enough to follow.
I am posting two templates. The first is without the window indicators, which is really the only chart you need. The second is with a couple of window indicators.
The chart is made up on an LWMA and Bollinger Bands, and the two window indicators are MACD, and a CCIchannel. With all of them the price is set to OPEN, which is my preference. I know most people like to use price set to CLOSE, but none of these indicators repaint – not during the candle and not after it closes. Wherever they are at the open of the candle is where they stay.
Some of the settings may look a little strange. For example, there are two BBs on the chart with only 1 line each. That is because I like different colors for the two lines. Any and all of the strange settings can be contributed to my weird quirks.
Personally I don’t use the window indicators much – only when I feel more confirmation is needed. The MACD and/or CCIchannel being overbought or oversold is extra confirmation. What I mainly look for on the CCIchannel is for the CCI line to be OB or OS and the purple line (short entry) or green line (long entry) to be coming out of it.
The CCIchannel indicator has an alert, with arrows on the chart, but I don’t use them. You may want to so I’m posting the original indicator with arrows as well. Just adjust the settings as I have for the indicator without arrows.
Both of the window indicators that I use belong to Mladen. As an added note I want to thank him for all he has done to help people, on this site and others. He, more than any other, is responsible for me progressing in this very difficult trading field. I’ve never seen an unhelpful Mladen post.
There are two non-essential indicators on the charts – the daily range and the current spread. Those indicators are provided for you as well.
One other thing - when the chart is flat I don’t recommend trading for everyone. But you can still take some nice, quick profits if you’re paying attention.
Here are the two templates:
Entry Signal 1
https://charts.mql5.com/22/909/gbpjp...-division1.png
Entry Signal 2
https://charts.mql5.com/22/909/gbpjp...ivision1-2.png
Entries are signaled as follows:
BUY – when the golden LWMA line moves away from the green BB line, a long entry is indicated
SELL – when the golden LWMA line moves away from the purple BB line, a short entry is indicated
That’s it. Yes, there are some false signals; no indicator is 100% perfect, but this entry signal is very accurate.
I use a 4 hour chart but I’m sure you can adjust the indicators to use it on any time frame.
You are welcome to add indicators or try to improve the system. Personally, I’m happy with it just as it is and I doubt I would make any changes, but others may find some changes helpful.
God bless, and happy trading.
This Entry Signal can be used as a stand-alone system, or as a confirmation to your own systems. It’s simple and it’s accurate. I won’t be posting Take Profit or Stop Loss rules. These are left up to your individual trading styles.
Don’t start asking for proof of success with this system. It is successful, but everyone’s trading style is different. Two people can trade the exact same system and come up with completely different results. Some are more aggressive traders, some are playing with scared money, etc., etc. If it is of interest to you then test it out, and use it if the results are good. If it isn’t of interest, then find something that is.
I am not on this site, or many others, very often anymore so if there are questions it may take a while for me to get back to you. And I don’t really see why there should be questions anyway, as it is simple enough to follow.
I am posting two templates. The first is without the window indicators, which is really the only chart you need. The second is with a couple of window indicators.
The chart is made up on an LWMA and Bollinger Bands, and the two window indicators are MACD, and a CCIchannel. With all of them the price is set to OPEN, which is my preference. I know most people like to use price set to CLOSE, but none of these indicators repaint – not during the candle and not after it closes. Wherever they are at the open of the candle is where they stay.
Some of the settings may look a little strange. For example, there are two BBs on the chart with only 1 line each. That is because I like different colors for the two lines. Any and all of the strange settings can be contributed to my weird quirks.
Personally I don’t use the window indicators much – only when I feel more confirmation is needed. The MACD and/or CCIchannel being overbought or oversold is extra confirmation. What I mainly look for on the CCIchannel is for the CCI line to be OB or OS and the purple line (short entry) or green line (long entry) to be coming out of it.
The CCIchannel indicator has an alert, with arrows on the chart, but I don’t use them. You may want to so I’m posting the original indicator with arrows as well. Just adjust the settings as I have for the indicator without arrows.
Both of the window indicators that I use belong to Mladen. As an added note I want to thank him for all he has done to help people, on this site and others. He, more than any other, is responsible for me progressing in this very difficult trading field. I’ve never seen an unhelpful Mladen post.
There are two non-essential indicators on the charts – the daily range and the current spread. Those indicators are provided for you as well.
One other thing - when the chart is flat I don’t recommend trading for everyone. But you can still take some nice, quick profits if you’re paying attention.
Here are the two templates:
Entry Signal 1
https://charts.mql5.com/22/909/gbpjp...-division1.png
Entry Signal 2
https://charts.mql5.com/22/909/gbpjp...ivision1-2.png
Entries are signaled as follows:
BUY – when the golden LWMA line moves away from the green BB line, a long entry is indicated
SELL – when the golden LWMA line moves away from the purple BB line, a short entry is indicated
That’s it. Yes, there are some false signals; no indicator is 100% perfect, but this entry signal is very accurate.
I use a 4 hour chart but I’m sure you can adjust the indicators to use it on any time frame.
You are welcome to add indicators or try to improve the system. Personally, I’m happy with it just as it is and I doubt I would make any changes, but others may find some changes helpful.
God bless, and happy trading.
Attached File(s)
MACD_colored_mladen-Open1.ex4
26 KB
|
1,700 downloads
Attached File(s)
MACD_colored_mladen-Open1.mq4
8 KB
|
1,738 downloads
Attached File(s)
CCIchannel_no_arr_o.ex4
30 KB
|
1,461 downloads
Attached File(s)
CCIchannel_no_arr_o.mq4
8 KB
|
1,636 downloads
Attached File(s)
DYNAMIC Breakout Daily Range_v10 b.ex4
4 KB
|
1,498 downloads
Attached File(s)
DYNAMIC Breakout Daily Range_v10 b.mq4
3 KB
|
1,658 downloads
Attached File(s)
Spread.ex4
8 KB
|
1,201 downloads
Attached File(s)
Spread.mq4
3 KB
|
1,309 downloads
Attached File(s)
Entry Signal 1.tpl
2 KB
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2,030 downloads
Attached File(s)
Entry Signal 2.tpl
5 KB
|
1,782 downloads
Defeat is temporary, but giving up is permanent.