It is easy and comfortable to trade, using the completed Profitunity trading system.
There are two ways of trading using Bill Williams` strategy: first - entering the market during the trend after consolidation, and second - counter-trend trading after completed 5 Elliot waves. The trading panel allows you to receive trading signals and trade on both strategies. Counter-trend trading is usually best for short and ultra-short timeframes, thus, you can build the "pyramid" using Wise Man signals. Waiting for First Wise Man signal on daily timeframe is not productive.
The medium-term trades are more secure and have greater potential for profit. It is fairly easy to find the beggining of a new trend considering the coverage of instruments that trading panel provides. Therefore, I would like to focus on this trading approach, using an upgraded complex of indicators and trading panel - Trading Chaos Expert.
Identifying the trend direction. The topic that shoud interest us the most is the moment when the trend starts to change, not when it ends. How does panel determine when there is a trend change on any timeframe? It is fairly simple:
1 ) The MAs of Alligator indicator begin to entertwine, and afterwards form the following sequence: the fast one is above the medium, the slow one is lower than the fast and medium ones. The trend will not change unless there is an opposite intersection. Modified MT5 Alligator clearly shows the trend change. The following picture displays the trend changes: red cirles - the beggining of a bearish trend, blue circles - beggining of a bullish trend.
2) Modified Awesome Oscillator indicator`s histogram crosses the zero line and makes a downside "hill", testifying the bearish impulse.
3) Fractals indicator displays the formation of five bars that form a fractal outside the "Jaws" of the Alligator indicator. If the fractal has formed below the blue line of Alligator and as a result there is a breakdown of this level, the market will go down. If there is a breakdown a fractal, that is above the blue moving average - it is a signal of a bullish trend.
Only these three filters generate the Autoactivation signal in trading panel. If you set-up your MT5 mail service you will be able to recieve such upcoming new trends on any trading instrument or timeframe. At this point the icon of timeframe in trading panel starts to light up with red or green color indicating the market direction and which trading signals trader should pick to enter the markett. The trader should click on this timeframe with trading signal and press "Apply" button. From this point the panel will activate the signal and set the virtual pending order.
To facilitate the undertanding of market direction the additional Fractal breakout level indicator will show trader previous breakdown of a fractal with a horizontal line. Thus, the trader will be relieved from issues of false fractal breakdowns and setting pending orders on fractals which are located below (above) the red line. This is my innovation in working with fractal levels. It is better not to risk and wait for pullback to the previous fractal level and enter the market using so-called "Push signal", which is generated by another indicator, called Short-term extremum.
Local extremums indicator. I have formed this indicator using the book by Larry Williams. It displays the formation of extremum after the price correction to the previous breakdown of a fractal. It allows the trader to enter the market on a better price with lower risk towards a new trend.
This is very simple and harmonious! In any case for me.
I wish you successful trading!