Hi Freefox,
Can I enter a trade when the arrow appears after the close of the candle
Thank you
Can I enter a trade when the arrow appears after the close of the candle
Thank you
{quote} Hi Freefox, Thankyou very much for the Indi its working great, Just wondering, i know its not the original rules but i have been trading your indi when an arrow appears, and with a good trade management ea with a tight stop loss and trail stop ive had some good results, just wondering if you would consider making a simple EA to open a buy or sell trade when an arrow appears ? could be Fun, Cheers M
using the OP method, look for a target at previous close swing high or close swing low.
I would then suggest entering with a SL half of that distance to TP1
But agree any indicator that does that for you or trade management tool that does that automatically is a traders best friend. The trader then should leave alone but we don't
I know this is a bit off-topic, but my question directly relates to fxcyborg's original thread which the indicator on this thread is intended to compliment. On his original thread he states:- "What we are looking for is an area where price has accumulated orders. Essentially were price was not really making any significant highs or lows - basically going sideways from a standing view point." It is in this area of consolidation in which the setup shown by the indicator on this thread is meant to be taken, my question is this. Is there an indicator...
https://www.forexfactory.com/showthread.php?t=428204
There is also https://www.forexfactory.com/showthread.php?t=390673 which gives you all you need to know about S/D and in far clearer detail than FXC does
The two threads above give you everything yo need to know of where to look for a trade, whatever the method of entry and exit is.
My only other contribution to the trading method is - if you want to make real money.
Work out where to you want to see a trade on an H4. Base you SL and TP on this chart, adjust your risk accordingly
Base your set up on an m15
Trigger on a m5
Go back to the H4 and wait for the trade to play out.
Otherwise, if you stay on the m5/m1 you will invariably take 10 - 20 pips out of the market many times, you will be successful 60% of the time and then every now and then through pure exuberance or frustration you will extend your SL and TP and wipe out all of those little wins.
Work out where to you want to see a trade on an H4. Base you SL and TP on this chart, adjust your risk accordingly
Base your set up on an m15
Trigger on a m5
Go back to the H4 and wait for the trade to play out.
Otherwise, if you stay on the m5/m1 you will invariably take 10 - 20 pips out of the market many times, you will be successful 60% of the time and then every now and then through pure exuberance or frustration you will extend your SL and TP and wipe out all of those little wins.