Easy entry system: coloured candles

Here's a nice simple system.

It was passed onto me, I take NO CREDIT for it (well maybe a little). Nore do I know where it originated. however I have changed and added a few things.

My normal trading style means that i am often looking at my screen waiting for trades which can take days to arrive. So i decided to try something while waiting and decided on this. i have only been demo-ing this for a couple of weeks but it has performed very well. Now I'm no fan of lots of indicators however this is a very simple trend following system.

open a 15m chart and open 4hr chart (add templates)

Buy Entry: look for long term trend on 4hr chart, make sure we have green candles and green dots
go to 15m look for the arrow to be Green, look for the candle to be Green, look for the ultra-signal dots to be Green....enter at the Break of that candle........vice versa for sells.

Take profit is up to you, I look at 'trendsqueezer' percentage, if it's low it signals the trend is getting weak so it could be time to exit.
For SL I often put it at the bottom of the signal candle

doesn't repaint, nice and simple.

I have been trying this on EU at 15m and 4hr. however there's no reason why it can't be used on other pairs and used for scalping or long term trades. Just pick a longer term trend and enter using smaller TF. I believe on the original they just used a single TF and entered in all directions.

below Pic is from today

think that's all

I've included an ADR indi (always good to know if we have exceed the average days pips) and news indi (always important to know if news is due)


additional things to look for....
trendsqueeze giving a high percentage will help determing strength of trend,
look to see what has happened earlier that day on lower TF, higher TF may be green but has lower TF been mainly red?
is Ultra-signal dots flat or trending at a nice angle? If flat still take trade but maybe be quicker to exit.
remember all trades are different and should be treated that way

Try it, it's nice and simple.

so not cherry picking, here's the last few days

edit.. just seen i missed a nice entry around 2am in 1st pic

again last few days..trend has been up on 4hr since 23rd

hey thanks kraven. nice to see a genuine guy post. can you explain why the trade failed on the chart where you have said "figure this out urself". according to your rules, that should have been a valid trade or am i missing somehting. cheers. keep up thegood work !

dont really have a erason to doubt but i want to ask again, are u sure none of these indicators repaints.

fx baraka yes it would end up a good trade, but you can see all the arrows in a small area. typing an explanation on a chart in a small area would have been messy. so in, out, in, out, in sort of thing.

I don't think so...once their painted that's it. Could be wrong but I've placed lines on entries and exits, closed MT4 and re-opend to find it's still the same. never tried it on 1min chart and watched though.
However if you open up to a 1min chart you will find a number of single coloured 'dots' and candles'...normaly when something repaints these single anomalies would be re-painted.

Hi,
When I add the FX Ultra Trend indicator it knocks me out of MetaTrader. Any ideas?
Ron

Hi looks like a system worth trying!!!!
With your take profit what % are you looking for on the bolinger sqeeze?

This system is very simple and kraven demonstrates his skill by checking the larger time frame. Bravo. I have no doubt this is a profitable system. I might like to make a suggestion or two that would increase profits: if the dotted line crosses up your original entry (lending support to your long trade) , if price comes back and bounces (giving another valid entry) you could make an additional entry that will double down on the deal and hence the profits. You could also use entries on multiple timeframes to do this: kraven is saying the 15M, and 4Hr, but you could time multiple entries on anything in between adding positions all the way. so the idea I have is to try a small exploratory position to establish a first position, once another entry is confirmed you can add more positions using multiple timeframes as and if they achieve entrys on higher timeframes all the way to the daily. The only thing this system lacks now is a monitor program for multiple currencies and timeframes..... Am not a coder though. Good luck master kraven

LL

It crashes mine too. One of them does anyway.

Eight or ten indicators on one chart would be hard on any platform.

stumpy as I said originaly I don't give a TP. every trade is different. do what you feel comfortable with. the trendsqueezer if below 50% trend is weakening and reversing, wait until that candle forms, if the next candle surpasses it and the % gets less think about getting out.

lazylobster I agree with this 'you could time multiple entries on anything in between adding positions all the way', but again I'm just keeping it simple.

Sorry about the crashing guys. it works fine on my platform, doesn't slow it down at all. If it's ultra trend maybe a coder could see why.

This is because some of you uses another MT4 build then the Threadstarter.
if kravens MT4 build is 419 and others uses an older MT4 build then it crashes.
to fix this is only possible if the .mq4 file will provided or if everyone uses the same MT4 build.


Cheers

Mediator

I tried to open up on two different mt4 platforms and it crashed both of them.

Kraven, Cud please you post the MQ4 version of the indicators so the my platform will not crash?

Thanks/Harry

Is it possible to use the opposite cci arrow for an exit?

Hi Kraven,
how about if we get an entry after all requirements are met but the 'trendsqueezer' percentage is below 50%, do we take the trade or leave it?
Thanks
Kasapreko

For those having problems with platform crashes, just put a CCI(45) on your chart. It's the same thing as the UltraTrend. Just watch for zero line crosses.

Barry

MT4 build 419 works just fine, update your MT4 and problems should go away.