Indicators Which I Normally Use!!!P-SAR = Default. (On Candlestick Chart Only)
MACD = 5, 34 , 5 ( On Candlestick Chart Or Default Style...which gives You clear view of its two lines crossing)....
SSTO(Stochastic Slow) = 5 , 3 , 3
Other Chart Users!!!
RSI & ATR = RSI = 7 With the combination of ATR 20(In a Same Window)….
MT4 Users only!!!
Set RSI=4 & ATR=14 coz pplz complaining that my setting of RSI=7 & ATR=20 not working the same which i want on their MT4 charts...But it must be looking same like my settings....(See posts with screenshots on Page 8,9,10,22)...Also see my Post No (321, 324) Better MT4 users post me screenshorts for more confirmation from me ...coz some of MT4 Users suits RSI=7 & ATR=20 & Some suits RSI=4 & ATR=14....Better to confirm from me...
Time Frame= 30 Minutes Only.
Pairs = Euro/Usd (Recommended)
= Gbd/Jpy (My Experience with this Pair is not much but I got always +ve results...1st try this on Demo)....
= Usd/Chf (My Experience with this Pair is not much but i got always +ve results...1st try this on demo).....
Entry Rules
Enter only when Two lines of MACD On chart crosses each and The 1st P-SAR dot appears below the candle for long & viceversa for short also SSTO lines have crossed each before, After or with MACD,s two lines Crossing or almost very near to cross if other conditions are already met, but watchout SSTO for not already in a overbought/Oversold Region, For long SSTO must not already In a overbought Region & vice-Versa for Short . Even SAR dot appears or not or all signals are Confirmed or not. Dont enter until SSTO is in a proper position for long and short respectively. for more see screenshots below….
You can also Enter if SAR dots are already below candle and macd,s lines crossed each and heading towards upside for long and ssto lines have also crossed each but not on or near over bought region for long and vice-versa for short. Also For Long RSI =7 Must be Crossing ATR=20 Upward in its Combination or Already have crossed It upward or very near to cross & Vice-Versa for Short...
NOTE: When SSTO Is crossed before MACD lines Crossing and MACD lines are very near to cross then Ready yourself and wait for MACD lines Crossing. Also watch RSI & ATR Combinations Movement. When MACD lines is Crossed then note the P-SAR Dots. They must be according to MACD/SSTO Crossing. For Long & Short…
Exit Rules
I Normally Exit after taking 15/20 Pips profit per trade if opposite P-SAR Dot appears or not in E/U but you can exit in the appearance of opposite P-SAR Dot….
A) Go long When Two lines of MACD Crossed each & SSTO lines Have also Crossed each in upward direction and P-SAR Dot Appears below the candles at the same time or after the crossing or before crossing for long & Vice-Versa for short Also Rsi Have already crossed ATR or very near to cross for long & short respectively.…
B) T-P = 15/20 Pips Depends on SSTO & RSI Overbought and oversold condition….(Important to Monitor for Taking Profit)…
C) SL = -20 Pips
D) I Use SSTO Crossing for confirmation of MACD lines Crossing & for right entry & also to avoide false signals as I have mentioned detail above how and also for Overbought/Oversold Conditions.
E) You can get almost 30/40 Pips with this system ON E/U but 15/20 pips are secure pips and easy to get. As Im almost generating 15/20 pips on routine Basis. Watch out overbought/Oversold Conditions and take Profit more then 15/20 pips according to them.
F) Never enter Before MACD lines Crossing each (Important).
G) I Use the combination of RSI = 7 & ATR = 20 for Additional confirmation of MACD lines crossing & to avoide from false entries. For Long Rsi=7 is has already crossed ATR=20 in Upward direction or very near to cross in its combination & vice-versa for Short. When MACD lines are near to cross each then by the help of other indicators I can easily judge that MACD lines will must cross each or not and also incase when you will put this combination on chart then you will know how its working in your favor But professional traders use lot of indicators for good trades and confirmations for Longs and Shorts…
H) All Mentioned Conditions Must Be Met.
I) Im using that System from past 5/6 months and its giving me healthy results..
J) Thanks to the efforts of peoples free system contributions as I have learned a lot from them...
K) I think stay away before and after half hour of news is Batter…
L) I never tried this system on any other timeframe or on any other pair Accept G/J ,U/C, E/U, & N/U so I don’t have any knowledge that how this system works on other pairs or any other time frame…
M) I Use FXCM free Power charts from their site !!!
Currency Exchange Chart You can find all Required indicators and their conditions to met from their….Like putting MACD on candlestick chart not below window. As the main purpose of putting MACD on candlestick chart is that we can clearly see its lines crossing each with wide view…Otherwise if your charting package is giving u clear view of crossing on normal view or default view( Window below candlestick charts) then no need to put MACD On charts with candlestick…
ScreenShot No-01...
See below in the pic. that how all conditions to enter in a trade met!!!
1) Look at Macd,s two signal lines on candlestick chart as they have crossed each and heading towards downside...(1st signal)
2) SSto have just crossed and heading towards downside----(2nd-signal)....
3) First P-Sar dot appears above the candle which is a ( 3rd-signal)...
4)See the combination of RSI/ATR as RSI has already Crossed ATR & heading towards downside(4tH-Signal)....
5)See how market moves down and we can happily lock +50 pips on Euro/Usd....
Also see the screeshot carefully..Here i entered in the appearance of First SAR dot above the candle for short coz other conditions are already met as RSI has already crossed ART and heading towards downside, SSTO was also crossed each lines & heading towards downside...Also Look at the left side of mentioned signal with blue line...Just one day back Macd,s lines are crossing and heading towards upside, ssto is crossing and heading towards upside , Blue line of RSI Just touched ATR & then moved towards upside and before our entry it was already on upside. Sar dots are below the candle and tht was a valid entry and i managed to get very goood pips also from there....
Now lets Move Towards ScreenShot No.02!!!
That is the screenshot of Gbd/Jpy....In that trade i managed to Get +40 pips!!!
1) See How tow lines of MACD crossed each & heading towards downside...(1st Signal)...
2)P-SAR dot appears above the candle(2nd-Signal)...
3)SSTO Lines crossed each & heading towards downside(3rd signal)....
4)See the 2nd fig. carefully Rsi was near to cross ATR when the first sar dot appears but i didnt enter but was not very near so i wait and when 2nd SAR dot appear above RSI was about to cross ATR & i enter Short....See the 2nd red candle with blue line & arrow...See how market moved down & Give +40 pips even more but i close my position here.....
My System is Basically for EURO/USD But its also working very well on GBD/JPY but i,ll recommend you more on EURO/USD....Coz I have tested it on that pair from last 5/6 months....
ScreenShot No-03 Perfect G/J Entry!!!
Now Look at screenshot no. 3 that is the one of the perfect G/J entry i ever met....
1)See two lines of MACD Clearly crossed each & heading downside(1st Short signal)...
2)Then P-SAR dot appears above the candle after it completation of Long signal series...
3) Blue Line of RSI =7 Crossed Red Line of ATR=20 already & Heading downside Even more strong signal. Coz RSI=7 Already Crossed It...
4)SSTo have crossed Each from overbought region & heading downside....Even most strongest signal coz it was almost in a Overbought region and heading towards downside.....
All Conditions are perfectly met and i Managed to get +100 pips...+47 on Real and remaining on Demo....See the 3rd Important Screen shot that how i entered with blue line with arrow and with first SAR Short signal Dot....
ScreenShot No. 04 News Candles & False Signals!!!
I really hate the crucial news time....The Only time i fail whn i mistakenly enter in a news time & +ve conditions immediately & i must say amazingly becomes -ve for me...Dont enter here tht was almost 80-100 pips move but RSI & ATR was even not crossed or not even near to cross coz news immediatly creats different condition....Althouh Macd, SSTO & SAR signaling long & as i said 80-100 pips move but i just stay away and just watch all that wht was happening...Lolllzzz.....Dont Kill urself Here,,,,watchout....
ScreenShot No . 05 See SSTO & and your entry!!!
What happened here see urself!!!
1) Two lines of MACD crossed each & heading towards upside...(Long signal)...
2) Rsi=7 already crossed ATR =20 and Already in upside (2nd long signal)....
3) SAR Also signaling long (3rd long signal)....
4) Look at SSTO.... Already in a overbought region....Question is that...here we enter for long or not ....? That is the common question that most of the pplz ask....See urself ...In EURO/USD i really avoide to enter in that kind of situations but here i enter in G/J but just for 10-pips profit...but G/J moved upto +24pips....Then see the next candle....A red Candle....G/J Moved down just bcz ssto was in a overbought region....Although G/J was after that make an uptrend and give lot of pips if we wait there holding our position...But frankly speaking even i was not sure for that , That G/J will maintain his uptrend. Even not from four hours chart...So i also avoide to enter in these sort of situations....Coz i never want to make even a singal wrong entry....I know that i,ll find lot of other apportunities....So Thats all for Know!!!
Precautions!!!
Avoide to enter in a dead Market Specially In Euro/Usd....
Avoide to enter before & After half hour of News....
SSTO is important to monitor before entry for long & Short....
I have No experience of my system on other pair Only have a goood experience on E/U & Now G/J & U/C ...But my experience on G/J is just of 16/17 successful trades...Luckly my SL of -20 pips on G/J Didnt hit yet... Hope these screenshots from my digital cam. helps u lolzzz coz dont know Why and what problem i am having to scan screenshots .....
Suggestions are needed & wellCome....
So lets talk about some tips to generate some Pips!!!
Thank You very Much....
Umair....Goood Luck....
- foreign exchange (forex) alerts.