Trend Trader

Using this trend trader indicator, follow the rules below and let me know the results. Try it on demo, of course.
Download the indicator here.
Entry
1. Identify the trend (is the channel falling or rising?)
2. Wait for the candles to change the color and eventually create lower highs or higher lows (basically let the price reverse a little, meaning that you will have to sell when candles are blue, and buy when they are red)
3. Confirm the trade entry with the candles (pinbars, engulfing etc) and/or the indicators' signals in the upper-left side (ex. you should probably buy when the Stochastic is oversold - arrow up, and sell when it is overbought - arrows down)
Exit
1. Set a SL at he previous LH or HL level
2. Exit when the candles' color changes or...
3. Drag the SL at breakeven and let it go; if trade continues to make money, drag the SL at the next swing level and so on.
Also
1. Mind the round price levels
2. Mind the candle type for the others timeframe (upper-left)

Thank you for the system! Will try it out and let you know what I think. One question though. What is the best time frame to use this system on? H4?

Thanks for sharing,the set up and rules looks simple enough but the download link is not working ,please check thanks

Hi wattman the these is indicator or EA? Thanc you

Mizi123 hi! It is an indicator.

great

This looks nice and i will try it out on demo account and will catch up again. Thx man SUBSCRIBED

DOES IT REPAINT?

I think it does but its not a problem since Entry rule doesn't have to do with repainting.

i have tried it,it seems works pretty well.
thanks to Wattaman.
regards
fred

thanks wattaman. i will also try and see.

Looks promising, great job! Could you kindly explain a bit, what logic does MTF trend indi use?

thank you for sharing.

The candle colours always change too late!...

You're welcome (to everyone that thanked me )
Sorry, I've been busy to login lately. Before I'll answer your questions, I must say that this is nothing special. It is just a bunch of indicators into one. However, it may look better on the chart and it will probably make it easier to spot the time to entry/exit a trade. There's also a video here that will probably explain more.
Nazarbobel - any timeframe, because it works the same on any of them. Just trade with the trend.
Neziah - it seems that the download is working
Mizi123 - it is an indicator
Soros - I think that the channel repaints, but that's not important because you use it only to emphasize the trend HH, LL, etc
Uglyduckling - that's the candle type (color) for each timeframe; useful to consider but I personally just zoom out the chart when I want to see the trend
Tillionaire - I guess it depends on your settings. Or maybe you misunderstood the usefulness - find the time to enter a trade when the candles are red - for buy, or green - for sell. NOT after they changed already. In other words, you still have to take a leap of faith because it is forex we are talking about and nothing is certain

This Indi with alerts and push (color change of the candles and top and bottom hit of channel) then it where perfect!

Thanx for this indicator Looks very interesting.................

Hello,

this indicator repaints. But its nothing else then ordinary Donchian bands.
If you want to visually backtest this indicator, just plot Donchian bands on your chart (setting about 15) and you will see exactly where the RoboFX-trend-trader actualy was in the past, before it repainted.

Anyway, you can build some nice strategies around Donchian bands, so go ahead;-)

You probably stopped reading just before the Entry.
In my strategy it really doesn't matter if the channel repaints or not, we only use it to identify the trend (as in 'going up' or 'going down').

That's an example.
I was not going to enter when the price formed the last higher-low, I was only preparing to. And eventually I did when the red candles started to look like a double bottom.
But it's forex and nothing is certain. There are no precise entries, no fixed levels, no exact TP or SL... just go with the flow.
Who cares if the channel repaints?! It served its purpose just fine