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Rainbow Trading System

  • #1
  • First Post: Edited 3:29am Jan 27, 2012 1:02am | Edited 3:29am
This is new indicator created by me, This indicator have 7 MA to determine the PA.

http://i.imgur.com/Y3aZW.png

This indicator can use to avoid emotional tradings

I tested this in 1 hour chart ( gbp/usd )

Download template then right click on the chart, load

http://i.imgur.com/Meou9.png
Attached File(s)
File Type: tpl rainbow.tpl   2 KB | 1,067 downloads
File Type: mq4 ZigZagWithValue_Bars.mq4   8 KB | 835 downloads
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  • #2
  • Jan 27, 2012 1:23am Jan 27, 2012 1:23am
But what are your rules?

It looks like a simple crossover of the 2 and 15 MAs, and you're ignoring the other 5 MAs?

And you haven't taken all the crosses of the 2 and 15
  • #3
  • Jan 27, 2012 1:39am Jan 27, 2012 1:39am
Quoting Andy B
But what are your rules?

It looks like a simple crossover of the 2 and 15 MAs, and you're ignoring the other 5 MAs?

And you haven't taken all the crosses of the 2 and 15
Rule, when the currency move more than 250 pips and form that position then we can expect 100 pips retrace. thats sure bet.

http://i.imgur.com/rPfwi.png
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  • #4
  • Jan 27, 2012 2:01am Jan 27, 2012 2:01am
Quoting ibpo
Rule, when the currency move more than 250 pips and form that position then we can expect 100 pips retrace. thats sure bet.

http://i.imgur.com/rPfwi.png
So you are just betting on retrace? But what are the betting rules?

Harry
  • #5
  • Jan 27, 2012 2:15am Jan 27, 2012 2:15am
Quoting Harry123
So you are just betting on retrace? But what are the betting rules?

Harry
betting rule is not "martingale" but we open 2nd buy when currency move extra 100 pips down with same lot size close together with first one, no loss.

http://i.imgur.com/06WGn.png
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  • #6
  • Jan 27, 2012 2:34am Jan 27, 2012 2:34am
The ingot rainbow indicator has been around for a long time, just modified to your liking.

Im not sure how it works tho, i just seen this image before.
Attached Image (click to enlarge)
Click to Enlarge Name: rainbow1.gif Size: 100 KB
  • #7
  • Jan 27, 2012 2:39am Jan 27, 2012 2:39am
Quoting rebyte2
The ingot rainbow indicator has been around for a long time, just modified to your liking.

Im not sure how it works tho, i just seen this image before.
i see, i didnt know about that indicator
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  • #8
  • Jan 27, 2012 2:46am Jan 27, 2012 2:46am
What don't you use some other indicators to confirm your entry? I would think some overbought / oversold / support / resistance indicators may help. May some different ones.
  • #9
  • Jan 27, 2012 2:57am Jan 27, 2012 2:57am
nps ibpo.... if you can successfully make it happen, then good luck.

Although i better rectify that post.

Its not an indicator as such, but a series of MAs manually placed on the chart.

cheers.
  • #10
  • Jan 27, 2012 3:19am Jan 27, 2012 3:19am
what SR and price action indicators is suitable for this?

i added zigzag bar to know pips count

http://i.imgur.com/4we6J.png

stochastic, rsi, bb is not suitable
Attached File(s)
File Type: mq4 ZigZagWithValue_Bars.mq4   8 KB | 480 downloads
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  • #11
  • Jan 27, 2012 3:52am Jan 27, 2012 3:52am
rule, when 730 ema and 15 ema gap around 150 pips then open first order

http://i.imgur.com/d5M5w.png

short gbp/usd now, 50 pips TP if wrong next short at 250 pips gap 100 pips will be TP
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  • #12
  • Jan 27, 2012 4:16am Jan 27, 2012 4:16am
Hi Ibpo,
I would try to demo your system but for some reason your template does not work on my Alpari platform.The price line just appears! So could you, please, give the list of all the emas?
Thank you in advance.
Jeff
  • #13
  • Jan 27, 2012 9:36am Jan 27, 2012 9:36am
Quoting jeff75
hi ibpo,
i would try to demo your system but for some reason your template does not work on my alpari platform.the price line just appears! So could you, please, give the list of all the emas?
Thank you in advance.
Jeff
ema 730 - method 1
ema 550 - method 1
ema 365 - method 1
ema 200 - method 1
ema 90 - method 1
ema 15 - method 1
ema 2 - method 1

add rainbow colors to make difference also use width 5 this will help to reduce emotion and noise

Quoting ibpo
short gbp/usd now, 50 pips TP if wrong next short at 250 pips gap 100 pips will be TP
50 tp hit
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  • #14
  • Last Post: Jan 27, 2012 10:18am Jan 27, 2012 10:18am
this is not my Journals thread,

i just opened and closed one trade for test this trading system
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