Correlated Currency Powered Trend

Hi traders,
Welcome to a not so simple but profitable system.

I have got so much from ff. This is a little give back to the community.

Indicators and Timeframe used:
Idb (same in all TF), Heatmap modoki (set to 1hr) and Windows RSI(at 4hr)

Entry:
Buy when both AUD and NZD are blue considering 2nd and 3rd rows in IdB and either AUD or NZD blue green in the top most (symbol) row,
&& Heatmap Modoki had/ has them both at top 3 place within the last 1hr.
Long both AUD and NZD vs another currency with red in IDB.

Vis versa for sell.

Why AUD and NZD?
Because both work together.

MM:
if in red and opposite signal shows enter.
If in red by more 30 pips close half of position. Then if windows RSl and Heatmap modoki of same direction as first direction shows enter. Close half of each when the loss of the first = gain of the second.

Exit:
If in profit with IdB change both first and second row going below or above 5 and below or above the other currency value.

Enjoy. i will be posting charts later.


Note: This is not the system on my TE.

Hello princefred. Looks interesting. Please could you send also some pictures of trades in the chart? Many thanks for that

Right now GA, EA , AUDCHF

Interesting concept,

Obvious question would be if this only works with AUD & NZD, example: USD Blue & JPY Red (In your example JPY is yellow right now, so wait until it's red, and also climb higher up on the heatmap),

With your example above, any reason why you didnt trade the NZD strength?

GBPNZD: Sell
EUR/NZD: Sell
NZDCHF: Buy

Thank you for sharing, looking forward to your posts.

Can you upload your template file please?

* Only AUD and NZD because they are commodity currencies to correlate each other. The only thing i do sometimes is trade CAD too when it's in synch wit AUD and NZD.

Spread too wide on those . They could have been Profitable though.

Waiting for AUD 3rd row on idB and HM . EUR red

Done on first post.

How do you find set ups on these? How do we know its not too late or too early?

This is a good question.
Usually enter as you see signal the signal and no obvious "barrier" support or resistance. This is normal fundamental trading stuff maybe i should add that to the first post rules.
Latest version of this indicator on H4 can help but usually barrier area is easily seen with naked eyes. Maybe overtime you will easily see them.
Usually a better entry signal shows up after waiting for Windows RSI to show retrace colour and revert back main initial signal direction colour.

Did you catch the NZD,AUD drop last night?