Just going with the trend

Hello all... I am new to Forex Factory and love it!!! I can't wait to experiment with all your strategies. I used to be a big time day trader but have slowly moved from the 5min chart to the Daily Charts using the candlestick as my primary indicator. Here is the rub... I get restless waiting and only executing 1 or 2 trades a day if that.

I came up with a very basic strategy to earn a few extra pips a day (15 - 30 on a good day) using the 15min chart with EURUSD, GBPUSD, and USDCHF and just going with the running trend.

The only indicator I use is the TFX Trend Bar. I set Long trends to aqua and (1 & 3) Short trends (0 & 2)to magenta. When I get three bars the same color I go with the trend (45 minutes). This isn't the best strategy but does get me good results. I guess after trying to predict the next trend for the last 6 months I decided it is just easier to go with the existing trend.

You won't get rich off of this. It is just a safe way to execute trades during the day while waiting for my Daily Trade to realize. I usually cash out @ 10 pips and/or get out when the trend reverses.

Happy Trading

Jake

Hey Jake

Can you post your indicator here?

Have a great pip day

here is the indicator. For those new to Meta trader here is where you need to save the file in order to get it in your custom indicator:

1. click on my computer 2. then click on the c:\\ drive 3. program files folder/ 4. metatrader 4 folder/ 5. experts folder 6. indicators folder. This is the folder where the TFX Indicator must be saved. You might need to close out MT4 and open it back up to realize the indicator.

Hope this helps.

Today using the above method (waiting for 3 trendbars and acting) I netted 60 pips over 8 trades between the big 3 majors - EURUSD, GPBUSD, USDCHF.

Jake

Thanks for the indicator. I like the simplicity. Also thanks for the instructions.

Wish you many pips!

did i miss the timeframe used?

I use the 15min charts. It seems to work the best for me and what I am trying to accomplish... 5 - 10 trades a day. Again, I usually shoot for 10 pips but depending on the previous trends I cash out at 7 or 8 pips.

I hope this helps!!!

Jake, thank you for sharing your method. Appreciate it. Was visually back testing TFX Trend. Had an idea and thought I'd share it here. (actually a few..)

(1) While you're scalping e 15min for 10ish pips. Why not try e same strat for e 1hr or 4hr. Seems to work pretty well, and u might grab more pips.

(2) Noticed.. "3 bars in a row --> directional move --> grab & go" is ur method. Ever thought of letting it run and set a trailing stop? Noticed some of e moves go into a mad trend for e 15min

Qns:
(a) Where's ur stop?
(b) Do you have the EAs or other indicators? Curious as to how they perform.

Happy pippin'

Isn't that just an HA chart?