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Finding the trend

  • #141
  • Jul 19, 2024 5:19am Jul 19, 2024 5:19am
Quoting OAPDave
{quote} A che punto vedi Acquirenti o Venditori? {image} {image}
can you share the indicator to draw the line of grid please?
  • #142
  • Jul 19, 2024 8:01am Jul 19, 2024 8:01am
Quoting OAPDave
{quote} Perhaps something like this ? {image}
It fits perfect. I do not trade like this, but I can see why you like it.
MetaTrader 4 - so many advantages.
  • #143
  • Jul 22, 2024 12:18am Jul 22, 2024 12:18am
Monday again. And vacation time. Should maybe not be trading? But weekend has been long and I need to go working.

So here are the chosen ones for this day. Not done yet. I start trading in 2 hours from now, so I can go into details with each chart and remove what I don't like.

Have a nice trading day.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 75 KB
MetaTrader 4 - so many advantages.
  • #144
  • Jul 22, 2024 12:38am Jul 22, 2024 12:38am
So I got this tool from JaimeAlejan. It shows that GBP, EUR and JPY are strong and CAD, NZD are weak. This will help filtering the pairs to trade today.

Mika's Breakout strategy | Forex Factory Post #10.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 56 KB
MetaTrader 4 - so many advantages.
  • #145
  • Jul 22, 2024 1:00am Jul 22, 2024 1:00am
On Thursday, July 18, the Indicator had a cross between AUD vs JPY and entered into Sale, although it had a decline, today the downward trend continues and I place a trade with a little more lotage.
Attachment g
On Friday the 19th I saw that the AUDCHF was in the same situation and made a Sale. Today the downward trend continues and I return with a little more confidence.
Attachment gMy other operations are a little more speculative since I like fundamental analysis. The risk is a little lower and they are swing traders.

Waiting for crossovers with the Currency Strength Indicator works for now. If anyone uses it, please share your experience.
Attachment g
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCHF.png Size: 71 KB
Click to Enlarge Name: AUDJPY.png Size: 68 KB
Click to Enlarge Name: Cruce AUDJPY y AUDCHF.png Size: 80 KB
  • #146
  • Jul 22, 2024 1:03am Jul 22, 2024 1:03am
Quoting JaimeAlejan
On Thursday, July 18, the Indicator had a cross between AUD vs JPY and entered into Sale, although it had a decline, today the downward trend continues and I place a trade with a little more lotage. {image} On Friday the 19th I saw that the AUDCHF was in the same situation and made a Sale. Today the downward trend continues and I return with a little more confidence. {image}My other operations are a little more speculative since I like fundamental analysis. The risk is a little lower and they are swing traders. Waiting for crossovers with the Currency...
WOW - I think this is a perfect system to decide the trend of the next day. Thank you very much for enlightning us. I will go into it a bit deeper in the time to come!!
MetaTrader 4 - so many advantages.
  • #147
  • Jul 22, 2024 1:33am Jul 22, 2024 1:33am
I just passed the first phase of a challenge with that strategy, so I hope to work with you to better study the trends and make some profits.

We are in contact
Attached Image (click to enlarge)
Click to Enlarge Name: image_2024-07-21_23-16-08.png Size: 31 KB
  • #148
  • Jul 22, 2024 1:59am Jul 22, 2024 1:59am
Quoting JaimeAlejan
On Thursday, July 18, the Indicator had a cross between AUD vs JPY and entered into Sale, although it had a decline, today the downward trend continues and I place a trade with a little more lotage. {image} On Friday the 19th I saw that the AUDCHF was in the same situation and made a Sale. Today the downward trend continues and I return with a little more confidence. {image}My other operations are a little more speculative since I like fundamental analysis. The risk is a little lower and they are swing traders. Waiting for crossovers with the Currency...
Do you use the green and red lines in your decision? for example: only overlaps within the two lines?
  • #149
  • Jul 22, 2024 2:01am Jul 22, 2024 2:01am
Quoting JaimeAlejan
I just passed the first phase of a challenge with that strategy, so I hope to work with you to better study the trends and make some profits. We are in contact {image}
You bet. I look forward to the work.
MetaTrader 4 - so many advantages.
  • #150
  • Jul 22, 2024 3:01am Jul 22, 2024 3:01am
I found currency strenght meters to be very lugging.
They works only if the trend is lasting longer but on ranging market you will be getting signals and immediatly after price will reverse hitting your SL.
but if you are able to identify a trend than you don't need any strength meter.
  • #151
  • Jul 22, 2024 3:34am Jul 22, 2024 3:34am
Quoting Merka
I found currency strenght meters to be very lugging. They works only if the trend is lasting longer but on ranging market you will be getting signals and immediatly after price will reverse hitting your SL. but if you are able to identify a trend than you don't need any strength meter.
Yes, but if you take the strongest values compared to the weakest, then you should be able to find trends. Of cause confirm with other tools or by watching.

I will use a tool like this only to confirm the daily trend. Maybe H4. Nothing lower. They will fluctuate to much.

Jaime does not trade right away. He checks next day if the trade can be confirmed before he take it, to avoid as you say trades, where it shifts back right away. And of cause it is not forbidden to use other confluences to confirm. I think it is worth testing.

But you are right, if you are able to find the trend using other methods, then this tool will only be for confirming.

I have had some doubts about JPY for the last week because a major shift happened. The tool shows me the current status of JPY. It is coming back. I can use that.
MetaTrader 4 - so many advantages.
  • #152
  • Jul 22, 2024 9:19am Jul 22, 2024 9:19am
These 6 pairs were the ones I chosed to trade this morning. I guess my methode worked today.
Attached Image (click to enlarge)
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MetaTrader 4 - so many advantages.
  • #153
  • Jul 22, 2024 11:47am Jul 22, 2024 11:47am
Quoting RiskFighter
These 6 pairs were the ones I chosed to trade this morning. I guess my methode worked today. {image}
Robby the Robot
was bang on today
Plug him in again tomorrow morning ?
Well Done

Just checking him with my style
seems we have a match
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUDM15a.png Size: 31 KB
Click to Enlarge Name: GBPNZDM15a.png Size: 32 KB
Click to Enlarge Name: NZDCHFM15a.png Size: 32 KB
Click to Enlarge Name: NZDJPYM15a.png Size: 32 KB
Click to Enlarge Name: AUDJPYM15a.png Size: 31 KB
Click to Enlarge Name: EURNZDM15a.png Size: 32 KB
  • #154
  • Jul 22, 2024 4:25pm Jul 22, 2024 4:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM15b.png Size: 46 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM15c.png Size: 46 KB
  • #155
  • Jul 22, 2024 7:20pm Jul 22, 2024 7:20pm
Quoting OAPDave
{image} {image}
Yes, The strength of GBPAUD was fantastic yesterday. Nice meter you have.
MetaTrader 4 - so many advantages.
  • #156
  • Jul 22, 2024 7:21pm Jul 22, 2024 7:21pm
I made no new analysis this morning. The pairs I chosed yesterday was doing well, so I just keep them. And they are running.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 89 KB
MetaTrader 4 - so many advantages.
  • #157
  • Jul 22, 2024 7:33pm Jul 22, 2024 7:33pm
Quoting JaimeAlejan
On Thursday, July 18, the Indicator had a cross between AUD vs JPY and entered into Sale, although it had a decline, today the downward trend continues and I place a trade with a little more lotage. 4763397 On Friday the 19th I saw that the AUDCHF was in the same situation and made a Sale. Today the downward trend continues and I return with a little more confidence. 4763396My other operations are a little more speculative since I like fundamental analysis. The risk is a little lower and they are swing traders. Waiting for crossovers with the Currency...
AUDCHF continues down. How do you set SL and TP? Or do you let it run?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB
MetaTrader 4 - so many advantages.
  • #158
  • Jul 22, 2024 9:10pm Jul 22, 2024 9:10pm
Quoting RiskFighter
{quote} El AUDCHF sigue bajando. ¿Cómo se configura SL y TP? ¿O se deja que siga funcionando? {image}
To take SL or TP I use an indicator that automatically marks the psychological levels (Closed numbers where the price tends to bounce), daily levels, weekly and monthly levels, in addition to the famous pivots. I attach a photo and the indicator so you can prove it.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB


The strategy is simple:
1.- if the price broke any monthly, psychological or weekly level, both bullish and bearish.
2.- the currency strength indicator crosses a pair or everything indicates that it will do so in the next few days.
3.- the general trend at first glance indicates the direction of the price (common sense seeking to go in favor of the trend)
4.- enter operation. with TP at the next weekly, monthly or psychological level (blue dotted lines) and SL above or the last levels and there being some line corresponding to an important level that marks the graph. RR 1:3,4,5,6

In the case of AUDCHF I had to close the operation because my funding account reached its desired percentage but the price continued to fall. If I had the operation open I would let it run until the next monthly level.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Attached File(s)
File Type: ex4 Pivot+&+Psycho+Levels.ex4   32 KB | 283 downloads
  • #159
  • Jul 22, 2024 9:51pm Jul 22, 2024 9:51pm
I'm waiting for them to give me my new credentials in the challenge I'm doing. so I will be trading just to check the strategy in an account that I almost burned by using it with an EA leaving it at 35 dollars haha.
I enter Sale in AUDUSD following the current Trend reviewing Renko Charts of 5 pips each block.

The currency strength indicator marks a possible crossover in the coming days.
Attached Image (click to enlarge)
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I put SL above the last important level and TP 2 Psychological levels below. Let's see how the op develops over the course of the week as I get my credentials to continue operating the Challenge.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 53 KB
  • #160
  • Jul 22, 2024 10:12pm Jul 22, 2024 10:12pm
I am scalping. Have taken 9 trades allready - in 3 hours.
MetaTrader 4 - so many advantages.
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