Hello Traders,
2months ago I found this indicator and I'm using it in my trading. I have my own rules for use it but I feel the indicator have more potential. I want to share my idea and the indicator for those that want to make it more profitable.
First I going to explain rules, feel free to modify for better use.
Time frame: 1 Hour System
Pairs: Any
For Buy
-You need wait a bar to cross the +100 level of the indicator. Take long after candle close.
-Don't take the signal if already been 6 bars before. Only take inside the first 5 bars cross
For Sell
-You need wait a bar to cross the -100 level of the indicator. Take short after candle close.
-Don't take the signal if already been 6 bars before. Only take inside the first 5 bars cross.
Exit
-You can go for TP, like 50 pips or what you want.
-You can go signal by signal
Stop loss
-Personaly I don't use stop loss because in a opposite signal I close the trade and take a new one. Some times the price will go back -60 pips or a little more but later it goes to profit if the indicator don't change.
I don't close the trade after a valid signal occurs, the indicator can change red to green to red many times but if there is no valid signal I keep the trade.
Hope somebody can improve the system.
Cheers
2months ago I found this indicator and I'm using it in my trading. I have my own rules for use it but I feel the indicator have more potential. I want to share my idea and the indicator for those that want to make it more profitable.
First I going to explain rules, feel free to modify for better use.
Time frame: 1 Hour System
Pairs: Any
For Buy
-You need wait a bar to cross the +100 level of the indicator. Take long after candle close.
-Don't take the signal if already been 6 bars before. Only take inside the first 5 bars cross
For Sell
-You need wait a bar to cross the -100 level of the indicator. Take short after candle close.
-Don't take the signal if already been 6 bars before. Only take inside the first 5 bars cross.
Exit
-You can go for TP, like 50 pips or what you want.
-You can go signal by signal
Stop loss
-Personaly I don't use stop loss because in a opposite signal I close the trade and take a new one. Some times the price will go back -60 pips or a little more but later it goes to profit if the indicator don't change.
I don't close the trade after a valid signal occurs, the indicator can change red to green to red many times but if there is no valid signal I keep the trade.
Hope somebody can improve the system.
Cheers
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