Forexgrail excel indicator

I found out this Indicator thorugh Internet search. It is called Forexgrail
It is a spread Sheet.

How to use this indicator

Copy to Meta trader Indicator section
Extract the zip
Open the excel File called forexgrail and enable the automatic update
in the excel sheet

In the Meta trader go to option/Server and click DD SERVER ENABLE


The excel sheet starts updating the rates etc of the currency pair
and shows which currency is weak,neutral, raising and strong

The MT 4 and the excel sheet should be open to get the updates

Please note I am also new to this indicator but check it out


Up date for the entry and exit rules

The spread sheet will be used only for the general guidence of the currency movment to pick up
the best currency pair

The spread sheet is not used for basket trading but to buy or sell single currency

The entry is based on watching the resepective charts and for that we are going to use the following indicaors

Auot pivot
EMA 100 with shfit 10
Modified version of ichimoku
MACD 12 26 9
Time Frame H 1
Entry

The spread SheetShows one strong currency and one weak currency Say GBP strong and JPY weak

Open the GJ Chart of one hour and if you see the Candles are above the 100 EMA there is a probability of Strong trend is developing for a buy in GJ

You will be using the Pivot indicator for the better understanding of the support and resistence levels

For Eg if the one hour candles are above 100 EMA as well as based on the pivot indiacator say the
candles are moving around weelky S1 or S1 and by looking into the strength of the currency
a buy order is placed and the contracts can be closed based on the subsequent movment to the R1
or R2 levels

If a trader wishes to keep the contract alive he can adjust stop loss accordingly

The following stop loss are suggested for some imortant currency pairs

GJ SL 100 TO 150 pip
GU SL 50 to 100 pip
EJ SL 50 to 100 pip
EU SL 30 to 50 pip

For Trading Short you will be using the reverse method

We are also looking into the possblity of long trade but not basket trading

I am attaching the templet for the system

Contracts entered based on the excel sheet at random in demo

All contracts still running went up to 70 pip and now the latest update

Can't see any indicator in the zip file

once you open the zip you will see the excel file. open the excel file

Attaching the sample sheet

Are there detailed instructions for its use?

Thanks!

Do you need to enable macros in Excel?

cant get it to work also....btw im a dummy when it comes to computers....
can you tell it to me like iam 6 years old pls....step 4 step
thnx

Save the excel file send in this post in desktop

Open MT4 and tools/option and tick the dd server

In the excel file enable the update

The excle file will start receving the price details from MT4

See in the top of the excel file

it says secruity warning click on the option and enable the link otherwise you will not get the data from MT 4

if i open the excel file mine just says "file error...data may have been lost"

no security warning or what so ever...

is it maybe coz i have an old version of excell?

How I Selected the contracts

In the excel file which is linked to MT4 I have seen us$,GBP, Aus as raisng currency and CAD and JPY as weak currency

Bought US$, gbp and AUS and sold CAD and JPY

I will be using the close all order script to close the contract at x pip later .

HI Holland

I am using Excel 2007 version . Try to delete the excel file and save again

Can you post a screenshot of how the spreadsheet should look?

Hi sirwolf

If you go to post 10 and open the excel file you can see the spread sheet
with details

contracts still going strong

I've actually seen this before, never gave it a second thought though.

Forexgrail though.....

For those that still are having problems here's a step by step:

1. Open up MT4.
2. Go to Tools > Options and tick the box that says "Enable DDE Server"
3. Close MT4 and start it up again.
4. Open up the spread sheet in Excel.
5. In Excel you'll see a warning that says Automatic Update of Links has been disabled. Enable that.
6. Look at your Excel file and the values should change as the currency fluctuates.

I get an error msg when I enable the import -

the excel sheet tells me that it cannot open MT4.exe - hmm.

I've seen something like this before but I think I will like the excel file better. This meter slows up my Java based Oanda platform.

http://www.newsprofiteer.com/newsprofiteer-meter.html

Thanks for sharing. I got mine working and ran through the logic in case anyone is wondering. This spreadsheet is simply comparing where each pair is relative to the daily high and low by a percentage of the daily range. It then averages these percentages across the board by currency. Notice that there is only one for the CAD so it will simply be the current daily position at any time for that currency.

So in a nut shell, draw a fibo on the daily high and low for each currency and trade UP if you are in the upper daily range and DOWN if you are in the lower daily range and you should have about the same success.