Zero Line Reject

Greetings Traders, (the following is an edit to benefit all those with jobs)

The following is a trading strategy I think I'm gonna like. If you like it, use it. I called it the zero line reject. The original author calls it something else.

It has losers, trading always will have. I have back tested this, D1, H4 and H1 as well as H1, M15 and M5. Any scalping is done during an active session.

It has very simple rules, easy peasy. You can have a FT job and trade this with success. That's the main reason I'm sharing this. I was looking for a system for the 1H.

My personal chart will look something like... D1, 34 EMA, 14 EMA, 816 EMA, 14 CCI, 50 CCI and fractals. I think that's it.

I wait for a Divergence on the Daily. When the 14 CCI closes below the 100 for a "short". From there I wait a day or more. I head to the H4 and plot my fibs from the highest high to my most recent low. If price reaches near the 61% level, I head to the H1 to set up a Pending order/Entry. I trade Asia and NY.

EDIT~I still use the 50 and 14 CCI. Settings do not make a difference. I often trail with a 50. Those will jobs can spend Sundays evaluating the W1, a few minutes daily evaluating the D1, and take trades on the H1.

Manage-... take a portion off at 1:1 and trail the rest {at minimum set an alert}... trail by fractals when the 50 CCI comes down below zero... adjust stop to the fractal highs of the candle when price closes below the 34 EMA.

Risk is completely up to you, do not bet the farm.

I will post charts. This first chart is way controversial, price makes it to the 34, not necessarily above it, it's your call. I would've traded it, I gave it a vertical line.

Enjoy the testing friends
Reno

I'm gonna have to watch it personally, I trade 26 pairs, here's nothing but profit from the last 5 trading days {YEN}. I will be posting winners and losers alike.

Enjoy
Reno

Greetings Traders,

If you have a FT job, this may be a 'portion' of your 'ticket' to freedom. I'm also thinking it's gonna be a decent breakout strategy. Caution, I've only looked at this on 3 TF. The 5 minute TF I may even consider, but will NOT trade until 3 a.m. New York time. I'm strict on that. I'm not interested in anything automatic either friends. I believe in hard work.

Again, if you follow the exit strategy, it CAN serve you well.

Reno

Greetings traders,

MTF analysis? It takes a bunch of 5 minute candles to create a daily candle. News events can completely eliminate any trend. Some say you're putting the odds in your favor when you miss a 50 pip move? Perhaps I'll stick to one time frame and trade what I see.

Thx Reno

2 trades on the Loonie during London and N.Y. The 1st has you up 2R, the 2nd is a loss.

CADJPY 4H this lasted almost 2 weeks. The first wave netted you 2R.

One of my favorite movers... got 3R here.

Greetings Traders,

This strategy is actually designed to work on the 1min TF. I've never traded the 1 minute.

That should be enough charts to give everyone a good idea of how this works.

Everyone enjoy your weekend.
Reno

Looks good . I'll keep watching

The last chart alone... a trader had one full day to take advantage of that 3R. I did an edit already with the entry to help avoid whipsaws.

Enjoy
Reno

how dose both cc level keep in same point, do u use only one cc level and delete other ones?

Could you post your template and/or CCI settings cause I am experiencing the same issue. When I add the two different CCI's I get two different zero lines.

Interesting one: but how do you set your 25CCI and 50 CCI on each other, and what are they apply to: close,low, high etc

Hi, you can "fix" their scales to be in the same range. So when adding the CCI, tick these 2 boxes and put in the same vales for both CCI's
Add the 50 first, set the fixed min and fixed max.
Next on the 2nd CCI (25), apply it to the first indicator as shown and remember to do the fixed scale to the same values.
Hope that helps

Thanks!

Thank you for the assistance with the CCI, first indicator's data or previous indicator's data, either one should work.

Thx
Reno

I'm also seeing something else I'm not terribly happy with; I think a trader should be able to focus on one TF only. When considering the 4H, it has served well to glance at the D-1 50 CCI, is it above or below zero. This is starting to shape up to be a big deal, some pairs have a bunch of wick rejections, while some pairs trend very nicely. I may edit rules a bit without adding more indicators.

In addition, using the exit strategy is almost a must.

Thank you
Reno

My CCI's are always on close, minimum and maximum range is 350. Any range over 200-250 I would think should work. All candles are black and white. If emotions are getting the best of you, go with all light blue candles.

Thx Reno

The following will likely be my next trade this evening, EG 4H.

The Blue dotted is a 20 EMA, when two different MA are on a chart, it can show trend momentum or lack. The 20 EMA adds a bit more structure without a lot of extra clutter I don't want. Traders make more money in markets that move.

Thx Reno