This is example of valid signal ... no idea - it will be profitable or not ... but just an example. I mean - we should open sell right now:
When we entered and when we had exit? This trade (see the image on the previous post) had 18 pips in profit. And this is full explanation about how to trade:
just a question;
what is your first value of stop loss ?
There was some idea (which were implemented in some EAs for MT4) that we should wait few bars more for iTrend confirmation. Idea was good but people did not like it ... the traders prefered to use confirmation on the same bar with signals.
Next idea which was proven: Bw system is not affected on any news events even if on high impected ones. It means: if we have some sudden movement because of nfp or any other high impacted news events so we will not get iTrend confirmation, and traders are safe in this situation: no need to close the trades before news events.
this indicator shows relative value of " bulls & bears "
if value of each of them reach to a minimum limit ( calculated ) then you can get a position on that direction ;
if news affected on " bulls & bears " such that ; condition was ready to trade ; so must to trade.
is that correct ?
I understand it as the trader: we are trading the signals which are accepted by this system. If there is some forex news and if the price is moved very fast on sudden way so we will not get iTrend confirmation. So, the traders should not be warry about - their deposited will be safe and they do not need to take onto consideration high impacted news events - on the other systems - the traders are closing all the position before high impacted news events; in our case - the position will not be open so nothing to close about :)
I mean: high impacted news events are "the enemy" for traders. For this system - we do not care ...
About first idea - I waited for iTrend confirmation and iopened sell for USDJPY now (we can see it on the chart).
MetaTrader Trading Platform Screenshots
USDJPY, M15, 2013.05.30
MetaQuotes Software Corp., MetaTrader 5, Demo
Stop loss was moved (by me ... by mouse on the chart) according to small dot of the previous bar:
stop loss moved
moved stop loss to next small dot:
moved stop loss