i'm a member of Forex Factory for some months. and i was inspired by some trader methods to build this one. the principle are very simple however, your criticism are welcome!
Indicators: triggerlines (TL), Awesome Oscillator (AO), Accelerate Oscillator (AC)
Candle stick: D1, H4 and H1
ENTER LONG: when TL is blue and AO and AC are green.
ENTER SHORT:when TL is red and AO and AC are red.
number of orders: 5 orders
i call HR (High Reverse) the last high of the price before the trend turn around, and LR (Low Reverse) the last Low of the price before the trend turnaround.
STOP-LOSS (SL) = LR for long entry
STOP-LOSS (SL) = HR for short entry
the Target depends on the timeframe and on the pairs
- GBP/USD (DAILY CHART)
BUY ORDER
- 1st order: SL=LR, Target=50
- 2nd order: SL=LR, Target=100
- 3rd order: SL=LR, Target=150
- 4th order: SL=LR, Target=200
- 5th order: SL=LR, Target=200
SELL ORDER
- 1st order: SL=HR, Target=50
- 2nd order: SL=HR, Target=100
- 3rd order: SL=HR, Target=150
- 4th order: SL=HR, Target=200
- 5th order: SL=HR, Target=200
- GBP/USD (H4 CHART)
BUY ORDER
- 1st order: SL=LR, Target=50
- 2nd order: SL=LR, Target=100
- 3rd order: SL=LR, Target=100
- 4th order: SL=LR, Target=150
- 5th order: SL=LR, Target=150
BUY ORDER it's the same Target the SL=HR
- GBP/USD (H1 CHART)
BUY ORDER
- 1st order: SL=LR, Target=30
- 2nd order: SL=LR, Target=60
- 3rd order: SL=LR, Target=60
- 4th order: SL=LR, Target=90
- 5th order: SL=LR, Target=90
BUY ORDER same Target and SL= HR
i take the exemple of GBP/USD i'll post soon the result of the other pairs.
THIS IS HOW TO MANAGE THE STOP LOSS.
GBP/USD (H4 chart)
if the buy order is ok this is how to manage the SL. it's tha same case for the other pairs, GBP/USD is just an example.
if the 1st order is ok! (T1=50pips reached), move up the stop loss of 50pips. the new SL is :
SL= LR+50.
if the seconde order is ok, move up the Stoploss of 100pips. so SL=LR+50+100.
do you catch me?
well.
