Hello cobraforex. I used your system and found out how powerful it is.I tried to filter your system to increase its win ratio and decrease its loss ratio.
finally after a lot of work on history and live tests I found that no indicator is powerful enough to filter your system but RSI.
I used RSI 14 and RSI 55 to filter your system. This is the rules:
the rules of entry is the same as the original MTF except you should check both RSIs too.
Long : both 14 and 55 RSIs should cross 55 line or at least be above the line.
SHORT: both 14 and 55 RSIs should cross 45 line or at least be below the line.
TAKE Profit: 10 pips
Emergency Exit: when the second row of MTF (M5 FAST) gives a reverse signal or a moving average cross(which occurs first is taken)
Time frame :1min but i think it works on the higher time frames too
Disadvantages : It reduces the number of signals
Advantages :
It gives you a safe entry
It normally stops your losses very soon (not more than 10 pips)
You can enter in retraces safer than before (see the picture)
It is easily recognized (before looking for signals on MTF check the RSI. if they are near one of the two line prepare yourself for a possible entry)
Cobraforex your system is perfect and I just wanted to share my exprience and didn't want to say it is an improvement of your system.
please let me know how you find it.
Have a good trade!
forgive me about my english.(I know it is terrible)
This is one of the good signals using this filter:
finally after a lot of work on history and live tests I found that no indicator is powerful enough to filter your system but RSI.
I used RSI 14 and RSI 55 to filter your system. This is the rules:
the rules of entry is the same as the original MTF except you should check both RSIs too.
Long : both 14 and 55 RSIs should cross 55 line or at least be above the line.
SHORT: both 14 and 55 RSIs should cross 45 line or at least be below the line.
TAKE Profit: 10 pips
Emergency Exit: when the second row of MTF (M5 FAST) gives a reverse signal or a moving average cross(which occurs first is taken)
Time frame :1min but i think it works on the higher time frames too
Disadvantages : It reduces the number of signals
Advantages :
It gives you a safe entry
It normally stops your losses very soon (not more than 10 pips)
You can enter in retraces safer than before (see the picture)
It is easily recognized (before looking for signals on MTF check the RSI. if they are near one of the two line prepare yourself for a possible entry)
Cobraforex your system is perfect and I just wanted to share my exprience and didn't want to say it is an improvement of your system.
please let me know how you find it.
Have a good trade!
forgive me about my english.(I know it is terrible)
This is one of the good signals using this filter: