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Simple, proven and profitable S/R system

  • #21
  • Apr 18, 2016 6:54am Apr 18, 2016 6:54am
Quoting EeZeeTrader
Hi HC I've also had the idea in mind to only trade S/R zones. I would've manually entered my S/R zones but will definitely verify my S/R levels with the indi you provided. Thanks for indi btw.
Nice S/R zones are very powerfull tool, S/R zones together with market momentum tell us the story.
  • #22
  • Apr 18, 2016 6:56am Apr 18, 2016 6:56am
Quoting shrips
{quote} Well thats right, why have a highlighted zone on the chart that has been broken? The point of the indicator is to only show areas that have been tested and proven.
Correct - we need to see only tested and valid S/R zones. The indi is doing a great job in this.
  • #23
  • Apr 18, 2016 7:05am Apr 18, 2016 7:05am
HCooper, what means "turncoat" sup/res in indy? Possible sup-> res or vv transition?
  • #24
  • Apr 18, 2016 7:11am Apr 18, 2016 7:11am
Quoting HCooper
{quote} The indicator shows everything - whether the zone is untested, weak or verified etc. Yes, this could be a valid entry. However, the nearest support where should be TP is quite near, and I dont trade NZDCHF, but I believe that the system will perform on NZDCHF well too.
ok i have entered a trade to test it out, on demo. i noticed you use 15m tf?
  • #25
  • Apr 18, 2016 7:20am Apr 18, 2016 7:20am
This is my EURUSD Daily S/R zones verified as mentioned earlier.
Not too bad what the indi does....


Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 158 KB
Ask and you look stupid for 5 minutes. Don't ask and stay stupid forever.
  • #26
  • Apr 18, 2016 8:35am Apr 18, 2016 8:35am
Quoting mades
HCooper, what means "turncoat" sup/res in indy? Possible sup-> res or vv transition?
Welcome here! Correct, turncoat means that support can turn into resistance and vice versa.
  • #27
  • Apr 18, 2016 8:37am Apr 18, 2016 8:37am
Quoting HGFx
{quote} ok i have entered a trade to test it out, on demo. i noticed you use 15m tf?
Cool, let me know how it works on NZDCHF after a couple of trades. For intraday trades I use mostly M5. But I also like to watch current market situation on other TFs.
  • #28
  • Apr 18, 2016 8:38am Apr 18, 2016 8:38am
how do I get this indicator on my platform
  • #29
  • Apr 18, 2016 8:41am Apr 18, 2016 8:41am
Quoting EeZeeTrader
This is my EURUSD Daily S/R zones verified as mentioned earlier. Not too bad what the indi does.... {image}
Nice I just love when I see the market bouncing from S/R zones with a few pips accuracy. Itīs a pleasure for my eyes.
  • #30
  • Apr 18, 2016 8:43am Apr 18, 2016 8:43am
Quoting barakooo
how do I get this indicator on my platform
Welcome here, go to MT4 -> choose file -> open data folder -> double click MQL4 ->double click indicators -> copy the indicator there -> restart MT4
  • #31
  • Apr 18, 2016 9:28am Apr 18, 2016 9:28am
Here is a very nice example.

See how EUR/USD went up from the point where the indicator started drawing the S/R zone. Then there was a correction and market went down and tested the S/R zone very accurately (I highlighted it as "first test"). Then there was the second test and nice, valid and profitable entry.

Btw: the indicator counts tests only if the market closes inside the S/R zone and bounce. But similar situations are also valid for me.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_ecnM5.png Size: 36 KB
  • #32
  • Apr 18, 2016 9:35am Apr 18, 2016 9:35am
Nice example above!

Would you enter a short trade here?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 27 KB
  • #33
  • Apr 18, 2016 10:54am Apr 18, 2016 10:54am
Quoting swetrader
Nice example above! Would you enter a short trade here? {image}
Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thatīs exactly where we set P/T. Very nice GBP/USD opportunity

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 33 KB
  • #34
  • Apr 18, 2016 10:58am Apr 18, 2016 10:58am
Quoting HCooper
{quote} Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thats exactly where we set P/T. Very nice GBP/USD opportunity {image}

HCooper,

is your sl always same no. of pips as target or .....?
  • #35
  • Apr 18, 2016 11:02am Apr 18, 2016 11:02am
Quoting HCooper
{quote} Yes, this was a very nice opportunity with very accurate Profit-Target. The resistances turned into the turncoat supports now - thats exactly where we set P/T. Very nice GBP/USD opportunity {image}
happy green pips
chart very clean and clear direction
  • #36
  • Apr 18, 2016 11:23am Apr 18, 2016 11:23am
Quoting Knez
{quote} HCooper, is your sl always same no. of pips as target or .....?
Yes, I posted the strategy in the simplest form. It is the simplest way to set SL the same amount as PT and the system performs well. But it is possible to improve here and set SL above resistance or below support. This will usually improve RRR nicely
  • #37
  • Apr 18, 2016 11:25am Apr 18, 2016 11:25am
Quoting pressok
{quote} happy green pips chart very clean and clear direction
Thank you men I also wish you a lot of green pips!
  • #38
  • Apr 18, 2016 3:43pm Apr 18, 2016 3:43pm
Hi Cooper,

itīs your best trading system? Sounds very good. This indicator seems great.

Thx
  • #39
  • Apr 18, 2016 4:10pm Apr 18, 2016 4:10pm
Looks cool. Will test tomorrow XD thanks.
  • #40
  • Apr 18, 2016 6:59pm Apr 18, 2016 6:59pm
HCooper,

A week ago you started a thread with a different trading system that you have stated you concluded after many years (see link below)... So, how many systems do you trade?

http://www.forexfactory.com/showthread.php?t=586713
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