Hi all,
Welcome to all who wants easy to follow system and one make consistent pips
This system is very easy to observe even for newbies and the simple concept behind this system is kind of break out based on price action.
Indicators Required:
1. Trend Manager
2. ATR
That's all
Basics:
Trend Manager Construction and Some basics: (Not important to understand this part to make pips out of it
)
Trend Manager to be simple is a very simple price break out model to decide bull or bear bias of market direction or Price bias. This system simply plots difference between the midpoints of the High Low range over the periods of bars used in plot calculation and the default bar used in calculation is 7 whose value is compared with the value of newest bars with range of 2 bar older or last bars simply, So based on this very simple equation this is not any complicated or mysterious system, so if the price if moves above the mid line of range bar in comparison means simply the price stayed above the range bars i.e price jumped up vs the values used in calculation.
And the many clone when TM was out guessed Trend Manager Indicator used the high high and the low low of the period as apparently . Instead its original is using the average of the Highest Low and the Lowest High to generate the starting point of the lines. The midpoint formula and the 7 period assumption both appear to be consistent with the bars the original plots
ATR (Average True Range)
Common tool used for measure of volatility, thus it gives a better idea were the stops should be placed rather than how much is my risk tolerance
Rule for trading based on it
Long Entry Rule:
Enter when there is reversal signal with a blue histogram appears from Trend Manager.
Stop loss Rule:
Used X size of ATR (7) value as Stop loss recommended value is 2X value but higher the volatility higher the value is recommended
Exit Rules:
Use 2x to 3x size of ATR value for Exits, if you want to keep exit simple better with respect to Risk Reward Ratio or Exit when opposite signal appears which ever occurs 1st ( Keep Exit open and have a look when market reaches area of 2x of risk size )
Short:
Vice verse of long rules
Recommended Time frame:
1 hr on any FX pairs (Most recommended any pair with good volatility)
Welcome to all who wants easy to follow system and one make consistent pips
This system is very easy to observe even for newbies and the simple concept behind this system is kind of break out based on price action.
Indicators Required:
1. Trend Manager
2. ATR
That's all
Basics:
Trend Manager Construction and Some basics: (Not important to understand this part to make pips out of it
)Trend Manager to be simple is a very simple price break out model to decide bull or bear bias of market direction or Price bias. This system simply plots difference between the midpoints of the High Low range over the periods of bars used in plot calculation and the default bar used in calculation is 7 whose value is compared with the value of newest bars with range of 2 bar older or last bars simply, So based on this very simple equation this is not any complicated or mysterious system, so if the price if moves above the mid line of range bar in comparison means simply the price stayed above the range bars i.e price jumped up vs the values used in calculation.
And the many clone when TM was out guessed Trend Manager Indicator used the high high and the low low of the period as apparently . Instead its original is using the average of the Highest Low and the Lowest High to generate the starting point of the lines. The midpoint formula and the 7 period assumption both appear to be consistent with the bars the original plots
ATR (Average True Range)
Common tool used for measure of volatility, thus it gives a better idea were the stops should be placed rather than how much is my risk tolerance
Rule for trading based on it
Long Entry Rule:
Enter when there is reversal signal with a blue histogram appears from Trend Manager.
Stop loss Rule:
Used X size of ATR (7) value as Stop loss recommended value is 2X value but higher the volatility higher the value is recommended
Exit Rules:
Use 2x to 3x size of ATR value for Exits, if you want to keep exit simple better with respect to Risk Reward Ratio or Exit when opposite signal appears which ever occurs 1st ( Keep Exit open and have a look when market reaches area of 2x of risk size )
Short:
Vice verse of long rules
Recommended Time frame:
1 hr on any FX pairs (Most recommended any pair with good volatility)
