Hello traders
First at all, the original idea is not mine, you can find the original thread here:
https://www.forexfactory.com/showthread.php?t=574515
Thanks to dove_alliance for all the amazing job he has been doing there.
COUPLE OF RULES BEFORE POSTING HERE:
* ANY POSITIVE CRITICISM IS WELCOME. DO NOT POST IN THIS THREAD IF YOU ARE ONLY GOING TO PROVIDE NEGATIVE FEEDBACK WITHOUT A POSSIBLE SOLUTION. NOT FOLLOWING THIS RULE WILL GET YOU BANNED AUTOMATICALLY WITHOUT ANY NOTIFICATION. YOU HAVE BEEN WARNED.
* DON´T ASK QUESTIONS ABOUT THE INDICATORS, AND HOW THEY WORK. WE ARE TRADING THE ARROWS HERE. IF YOU HAVE ANY OTHER DOUBTS, THEN GO TO THE ORIGINAL THREAD: https://www.forexfactory.com/showthread.php?t=574515
I have been using that system with a different approach. My approach will be beneficial for people who doesn´t have enough time to trade during the day. With this approach you only need 10 minutes per day.
Download the 5 indicators at the bottom of the page, and the template file. I have already changed the colors so you can only see the price and the green and red arrows.
Timeframe: Daily.
Pairs: All pairs. I currently watch around 28 pairs. Avoid exotic pairs due to big spread
Rules are very simple:
Buy after green arrow appears. Close the trade at the end of the day. Stop loss 3 pips below the low of arrow candle.
Sell after red arrow appears. Close the trade at the end of the day. Stop loss 3 pips above the high of arrow candle.
As you can see, every trade last 24 hours.
SL Exception: When the arrow and the candle are of different colors, the price will be too close to the stop loss sometimes, so you need to place the stop loss further (30 pips) from the low/high, because otherwise the entry price is too close and you will get stopped out.
Money management: Risk between 1%-2% per trade
Enjoy!
First at all, the original idea is not mine, you can find the original thread here:
https://www.forexfactory.com/showthread.php?t=574515
Thanks to dove_alliance for all the amazing job he has been doing there.
COUPLE OF RULES BEFORE POSTING HERE:
* ANY POSITIVE CRITICISM IS WELCOME. DO NOT POST IN THIS THREAD IF YOU ARE ONLY GOING TO PROVIDE NEGATIVE FEEDBACK WITHOUT A POSSIBLE SOLUTION. NOT FOLLOWING THIS RULE WILL GET YOU BANNED AUTOMATICALLY WITHOUT ANY NOTIFICATION. YOU HAVE BEEN WARNED.
* DON´T ASK QUESTIONS ABOUT THE INDICATORS, AND HOW THEY WORK. WE ARE TRADING THE ARROWS HERE. IF YOU HAVE ANY OTHER DOUBTS, THEN GO TO THE ORIGINAL THREAD: https://www.forexfactory.com/showthread.php?t=574515
I have been using that system with a different approach. My approach will be beneficial for people who doesn´t have enough time to trade during the day. With this approach you only need 10 minutes per day.
Download the 5 indicators at the bottom of the page, and the template file. I have already changed the colors so you can only see the price and the green and red arrows.
Timeframe: Daily.
Pairs: All pairs. I currently watch around 28 pairs. Avoid exotic pairs due to big spread
Rules are very simple:
Buy after green arrow appears. Close the trade at the end of the day. Stop loss 3 pips below the low of arrow candle.
Sell after red arrow appears. Close the trade at the end of the day. Stop loss 3 pips above the high of arrow candle.
As you can see, every trade last 24 hours.
SL Exception: When the arrow and the candle are of different colors, the price will be too close to the stop loss sometimes, so you need to place the stop loss further (30 pips) from the low/high, because otherwise the entry price is too close and you will get stopped out.
Money management: Risk between 1%-2% per trade
Enjoy!
