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Trend Finder Daily

  • #1
  • First Post: Edited Jul 21, 2008 7:26pm Jun 12, 2008 4:24pm | Edited Jul 21, 2008 7:26pm
Hello Everyone,

This system combines the power of the Stochastic Oscillator and the Awesome Oscillator into a very simple to use, high accuracy system. Due to its simplicity and consistency, it can very good system for those of you who are looking to possibly make the jump from part time trader to full time trader.

Full System Details and News

Free Signals via Email and/or Yahoo Messenger!

-----------------------------
The System
-----------------------------

Chart Setup
Open a Daily Chart.
Add the Awesome Oscillator.
Add the Stochastic Histrogram, with 5,3,3 settings.
Add a 200 Simple Moving Average.

Long Entry Criteria:
1. Price is above the 200sma.
2. The Awesome Oscillator has changed to green.
3. The Stochastic Histogram has changed to green.

Short Entry Criteria:
1. Price is Below the 200sma.
2. The Awesome Oscillator has changed to red.
3. The Stochastic Histogram has changed to red.

Money Management and Exit Strategy
1. Open 2 trades which together risk no more than 3% of your total available balance.
2. Set a stop loss of -100 pips for both trades.

Trade 1: Set a take profit at +50 pips.
Trade 2: Set a take profit at +100 pips.
When you reach +50 pips, set the stop loss for the remaining trade to break even.
-----------------------------
Feel free to ask any questions you may have.

Good Luck Everyone!
Attached File(s)
File Type: mq4 StochHistogram.mq4   3 KB | 6,566 downloads
File Type: tpl trend finder daily.tpl   1 KB | 5,915 downloads
File Type: mq4 Trend Finder Daily_by RonaldRaygun.mq4   10 KB | 6,641 downloads
  • #2
  • Jun 12, 2008 4:49pm Jun 12, 2008 4:49pm
What pair do you trade using this system? Seems like a pretty powerful system. If you are trading this system live, what's your win/loss ratio and how many pips are you getting on an average?
  • #3
  • Jun 12, 2008 4:54pm Jun 12, 2008 4:54pm
Isn't "Stochastic Histogram" just Stochastic crossing the 50 line?
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #4
  • Jun 12, 2008 5:49pm Jun 12, 2008 5:49pm
Quoting Dl1982
What pair do you trade using this system? Seems like a pretty powerful system. If you are trading this system live, what's your win/loss ratio and how many pips are you getting on an average?
Hello,

I trade this system on all available pairs.

The win rate after 4 months of demo trading is 82%
The win rate after 2 months of live trading is 84%

The average amount of pips earned for the second trade. (The one that runs until there is a reversal) is 215 pips. However, i've had trades go as high as 600+ pips, as well as the second trade going back to break even for 0 additional pips.

The first trade either goes to -100, 0, or +100.

Bull101
  • #5
  • Jun 12, 2008 5:51pm Jun 12, 2008 5:51pm
Quoting Oksana17
Isn't "Stochastic Histogram" just Stochastic crossing the 50 line?

That is correct. When the histogram changes to green, that is the same as the regular stochastic's main line going over the 50 line.

The reason I use this indicator is because I find it easier to read, and I believe it will lower the amount of confusion for newer traders.

Bull101
  • #6
  • Jun 12, 2008 5:52pm Jun 12, 2008 5:52pm
Hi,

your system looks very similar to ozfx...... might work fairly well just like his.

thanks for sharing
  • #7
  • Jun 12, 2008 5:57pm Jun 12, 2008 5:57pm
Quoting Naijafx
Hi,

your system looks very similar to ozfx...... might work fairly well just like his.

thanks for sharing
That is true, a friend of mine had mentioned that to me. After reading over his system it appears that the main, if only real difference, is that I use the Awesome Oscillator as opposed to the Accelerator Oscillator.
AO is usually slower compared to AC, however I find that it is MUCH more reliable than AC.

My system also uses the stoch histogram, but that is the exact same as the standard stochastic indicator, it just displays it differently.

Bull101
  • #8
  • Jun 12, 2008 6:09pm Jun 12, 2008 6:09pm
Thanks for using the histogram. You are right, it's easier for new traders like myself. I'm going to start demo trading this system tonight when I get home from work. I love how this system is simple and very easy to understand. Do you recommend a broker to use for the charting? For instance, some brokers create daily candles at different times. If you could let us know what broker you use for your decision making, it will help with getting as close to your results as possible.
  • #9
  • Jun 12, 2008 6:11pm Jun 12, 2008 6:11pm
Quoting Dl1982
Thanks for using the histogram. You are right, it's easier for new traders like myself. I'm going to start demo trading this system tonight when I get home from work. I love how this system is simple and very easy to understand. Do you recommend a broker to use for the charting? For instance, some brokers create daily candles at different times. If you could let us know what broker you use for your decision making, it will help with getting as close to your results as possible.
Hello,

I have been finding these signals using ODL. Their daily candle opens at 0:00GMT, so any broker that opens at that time, you should be fine with. My live broker is FXCM, however, I haven't switched to their MT4 account yet. So I find entries with ODL, trade live with FXCM.

Hope that answers your question,
Bull101
  • #10
  • Jun 12, 2008 6:15pm Jun 12, 2008 6:15pm
Thanks for such a quick response. I will open a demo with ODL tonight. My live account is also with FXCM so I will be using ODL for my charts and FXCM for live trading this system (when that time comes after demoing first).
  • #11
  • Jun 12, 2008 6:42pm Jun 12, 2008 6:42pm
So with the daily setup you do wait for the candle close correct? What pairs do you trade? Do you the same take profit and stop loss setting for all pairs?
  • #12
  • Jun 12, 2008 6:58pm Jun 12, 2008 6:58pm
Quoting lcfxtrader
So with the daily setup you do wait for the candle close correct? What pairs do you trade? Do you the same take profit and stop loss setting for all pairs?
Hello,

I do not wait for the candle to close. I analyze the charts when the candle opens. If there is a signal, I take it. I trade this on all available pairs.
  • #13
  • Jun 12, 2008 7:21pm Jun 12, 2008 7:21pm
Looks like a short signal on both GBP/USD & EUR/USD. Please take a look at the chart to confirm.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 57 KB
Click to Enlarge Name: eurusd.gif Size: 56 KB
  • #14
  • Jun 12, 2008 7:26pm Jun 12, 2008 7:26pm
Quote
I do not wait for the candle to close. I analyze the charts when the candle opens. If there is a signal, I take it. I trade this on all available pairs.

How long will you analyze this? Does the color change back and forth? My trades are based on candle close with both indicators agreeing (same color) so I guess this is incorrect.
  • #15
  • Jun 12, 2008 7:27pm Jun 12, 2008 7:27pm
Quoting lcfxtrader
Looks like a short signal on both GBP/USD & EUR/USD. Please take a look at the chart to confirm.
Since the AO changed on the last candle, I consider entering now to be a late entry, so I would not take these trades.
  • #16
  • Jun 12, 2008 7:28pm Jun 12, 2008 7:28pm
Quoting lcfxtrader
How long will you analyze this? Does the color change back and forth? My trades are based on candle close with both indicators agreeing (same color) so I guess this is incorrect.
Whenever I finish analyzing them at the candle open. So I would say roughly 10 minutes at the most.
  • #17
  • Jun 12, 2008 7:35pm Jun 12, 2008 7:35pm
This may be a stupid question but I'm new to mt4 and stuff like that. How do I get the templet to my odl platform?
  • #18
  • Jun 12, 2008 7:50pm Jun 12, 2008 7:50pm
Quoting Dl1982
This may be a stupid question but I'm new to mt4 and stuff like that. How do I get the templet to my odl platform?
Place the .tpl file in C:\program files\ODL MetaTrader 4\templates

Then restart mt4, right click on your chart, go to templates, and select the template.


Bull101
  • #19
  • Jun 12, 2008 7:58pm Jun 12, 2008 7:58pm
Thanks very much.
  • #20
  • Jun 12, 2008 8:07pm Jun 12, 2008 8:07pm
Quoting Dl1982
Thanks very much.

Forgot to mention you'll also need to place the indicator files in c:\program files\odl meta trader 4\experts\indicators
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