I created a custom Elliot wave font and implemented it to a script for easy quit analysis of Elliot wave counting for MT4 . Simply Drag and drop the degree in which you wish to Analyse on the chart .
Instructions for use :
Copy and Past url https://www.dropbox.com/s/y51c5g5b7691ain/EWA%20DASH%20FONT.ttf
Download and Install EWA DASH FONT
Past indicators to experts/scripts file
The wave structures are not complicated if you can count to three and five and memories simple patterns and rules then you too can become an expert Elliot wave analyst .
Often you can look at the chart and say that the price is going to move 20 or so pips up or down . Iv constructed a simple break even Expert advisor for manual trading . Now i should get more break even than losses and can let the winners run !
My next mission is customise an expert advisor of semi automatic trading. Iv have tried and failed to create indicators that place trend lines and remembered lines properly , Can it be done and is it worth the hassle ? after all it dose not take that long to place a trend line and a horizontal line on the chart . So lets make the trend lines and remembered levels come alive .
Hear is a simple scrip drag and drop price for key levels in the market
The trend demarker is one iv come back and looked at time again .
It is a good trend line drawer maybe i should make an EA with moving averages and test the results . I found another indicator its called ATR channel indicator it draws equidistant channels pretty good .I even looked at the Auto chartis software the problem is that MT4 is limited to what you can program .Iv come right back around in full circle and decided that hand drawing trend lines is better .
Thomas Edison had 10,000 attempts to create the lightbulb. When asked about the failures he said "I didn't fail 10,000 times. I found 10,000 ways how not to create a lightbulb"
It is profitable at night GMT .It takes small profits an the end or during a trend . I will try and combine this to my trend trader EA and call it something like brain storming hear .. integrated profitable systems or IPS .Iv named this EA night scalper still in its early days it showing a 70% win ratio .It dose risk more than it wins but you cannot argue with the results
The indicator shows the Average true range from the last 19 trading hours multiplied by 1.4 percent .A five minute bar close above or bellow these levels is a breakout signal .
Methodical two in one Five Minute system EUR/USD ,
System 1) Long term
A close above or bellow the yellow area is a break out . Stop loss is always 30 pips . The red Dash line is the Average true range trailing stop
system 2) Short term collect 18 pips to offset the 30 pip losses .Rule do not trade around news events works better in non volatile hours
Moving average 120 smoothed plus 20 pips above/bellow ,Williams Percent range over sold at -100 signal buy 0 sell
stop loss 120 next day if opposite side of the MA close trade TP 18 pips 75 % win ration
I have added higher highs, lower highs, higher lows , lower lows with hourly fractals on M5 chart With simple blue for trend up red for trending down .The fibo can be used as a border levels to trade of
