so I am sharing the system here with everyone. Please provide your view point and maybe someone can help me automate this system.
It uses only 1 indicator 3ColorMACD.
3 setting for the indicator on 4 hour chart
3 setting for the indicator on Daily chart
I trade it on 4 hours chart only.
Buy when all 3 setting of 3colorMACD turns Green. Buy stop order on top of the trigger candle with stop at the other end of the candle. Target is same distance as Stop. so it's always 1:1 R:R. Stop move to breakeven when price moves half way to the target.
on 4 hours chart, the MA is mapped to daily 200 MA position. so if that MA is within the RANGE (between Stoploss and profit target) of trade setup, skip the trade.
Also if the trade profit traget is less than 25 pips, skip the trade.
Currency Pair Exclusion List :-
Update - 1st Sept - 2013.
Added 1 hour and 30 min template for anyone interested to trade those timeframes.\
Update - 12th Sept -2013
Additonal templates with different colors can be found here - http://www.forexfactory.com/showthre...69#post6958269
Indicator with notification and alert added. MTF MACD Signal v1.1.ex4
Update - 21st Sept 2013
EA - http://www.forexfactory.com/showthre...26#post6978926