Why not pay Newdigital for his work?
I think Newdigital should be compensated for his hard work by all of us paying to see the elite section.
Thanks very much for your great method.
Today, I downloaded the indicators and templates and I think you may also put them in one template. So you may just use one chart for each currency pair and just change the time frame.
Here is the template. When you change the time frame to 4H, you will see another template for the 4H.
If the trading rules are not allowed this way, just skip this template
I am looking forward to studying your trading rules!
the sun went up and is shining !
Are you affraid that many people will trade and make money and the system will not work because of that?
As to elite section so it does not matter for me - elite or public ...
Really does not matter.
Anyway it is good idea to create some systems inside elite section only.
But we have more opportunity in public area for the development. Because I am doing elite section almost alone (with some programmers). But public forum we are doing all together.
It was some story.
About Goldwarrior EAs especially for Platinum versions: authors (Tartan and other 2 people from different countries) created Goldwarrior EA and the final version - Platinum EA. And this Platinum EA was very profitable so the authors were affraid to post it.
They did not post Platinum during the 2 or 3 years.
They wanted to sell but how many people will buy? 10 or 20 maximum.
They wanted to post in some special place to make small money as well but nowhere to post. No place in the forex to post good systems/EAs. So they created Russian forum and posted EA finally for free (and we have it in our forum as well).
And, suddenly, people discovered some bugs in this EA which should be fixed.
It is real story.
So first of all I want to say about pivot:
- Resistance 1 (R1): this is the 1st resistance line, which could stop a rising price.
- Resistance 2 (R2): this is the 2nd resistance line, which could stop a rising price.
- This is the middle line. A price above this line is a sign to go LONG. A price under this line is a sign to go SHORT.
- Support 1 (S1): This is the 1st support line, which could stop a falling price.
- Support 2 (S2): This is the 2nd support line, which could stop a falling price.
In my template I am using camarilla mode of Live Charts Fibo Pivots indicator on H4 timeframe with indicator's period D1.
The other indicator (^Pivot_ResSup) is drawing R1 an S1 based on the previous day.
So the price may stoped near resistance line, may break this line out, or may be reversed.
I estimated the profit level according to the following:
- R1, R2, R3 or S1, S2, S3 (this lines are static ones - they are not moving during a day);
- ^Pivot_ResSup indicator (static value as well);
- i-DayOfWeek indicator (see image - it is dynamical lines). This lines are moving during the whole day. Do not forget to set the right day in i-DayOfWeek indicator (Monday is 1 and Friday is 5), you should set the number of the day every day;
- dynamic support/resistance/trend lines on M15 chart (see image): hight1, hight2, low1 and low2 (and trendline sometimes). The lines are moving all the time. If one of the line is red or blue so it means buy stop order on breakout (blue) or sell stop. But I did not use these buy stop and sell stop orders.
- Fisher_exit indicator.
Friday evening was not good market for this system so I can not give good example.
But, for example we had sell (see image). This sell was confirmed all the indicators except may be MACD. The target was 1.2268 (see image target_m15). Why? Because of H4 chart (see image target_h4): target is S1 on the image. But I placed profit level a little closer to the price. For example, we estimated the profit as 1.2268 for short so I placed 1.2270 or 1.2275.
And I do not know about i-DayOfWeek and dynamic support/resistance/trend lines on M15 chart because they are moving. So probable we may estimate the profit level according to these indicators/lines (some lines are very closed to the price and some of them not so we should select something which is not too far and not too close to the price).
Tomorrow I will describe about re-enter, about all the indicators (how to trade), Ichimoku H4 chart, about stop loss.
And will describe the situation when we may lose money (any system is having positive and negative attribute).
newdigital thanks for all this it was a GREAT read. Looking forward to your rules/setup for how to trade the M15 timeframe. Again many thanks for all the time and effort you have put into this.
I am posting the statements on Sunday and Monday in elite section so I am very busy in that time.
I will continue to post all the rules (tomorrow).
The new trading rules for M15 will go in elite section first? If thats the case I think I better go signup If not my mistake and apologies for not reading correctly what you meant. Im just amazed at whats been done so far here.
Nothing is going to elite section.
Elite section is EAs' testing statements. It is nothing with ASCTrend rules.
There is no asctrend thread in elite section.
I wanted to say that I can not continue the posting now as i am busy with elite section up to the Monday.
I will continue to post all the rules in this thread on Monday.