Patriot Road v1.0
template file
Let me know if you guys can get it up and running with the template file I included, one of my friends from Undernet #forex said he had to get the Keltner channel up manually.
Hi,
Could you please explain all the different symbols that appear in the Madro Filter? Could you also explain how you use the system in terms of entries, stops, etc.?
Thanks.
Good Visual
I like the visual layout.
I used the same setup with Time Bomb Tim. Works great. The explaination of the Road crossing the Patriot is well put.
This trading style works. Good work mate.
Just want to add some quick advise to traders new to this style. Patiently wait for the new direction to form. Wise words from MiniMe, just because you turn on the computer, doesn't mean you have to take the trade. With this strategy you might wait for two days but it is worth the wait.
Strategy work well on 1hour TF, but put caution to the wind on 4hour TF.
Hi, very simple but maybe really better of too complex things, template is very good too, i added keltner channel manually, you forgot to put it in the template, anyway that's good!
Thanks for the system 
Hi,
Could you please explain all the different symbols that appear in the Madro Filter? Could you also explain how you use the system in terms of entries, stops, etc.?
Thanks.Madro has several things to it, the general trend is at the bottom in blue or red. The other is how strong that trend is, amber for buy, grey for sell. It's also got the arrows for entry/exit and an audio which I've turned off my personal use.
OK, when you see the road crossing the red, white and blue patriot lines and staying on one side then its time to trade. If you're below the red patriot line its time to keep and eye for sells, above the blue its time to keep an eye for buys.
If you scroll back through history you'll notice the farther away the road is from the patriot lines the more reliable the trend is.
Also, notice that when the price action goes off the road, it tends to want to go back on the road, unless its on a really long extended trend up or down. Usually you'll see that on the longer 1h and 4h trends.
The cool thing is you can go down to 1 minute and still make some sense of what to do, which you can't do with a lot of manual trading systems, they fall apart or need to be reset for the 1 minute.
Hope this helps!
Hi, very simple but maybe really better of too complex things, template is very good too, i added keltner channel manually, you forgot to put it in the template, anyway that's good! Thanks for the system
I'm sorry for my shortcomings. This is my first manual trading system. It stems from the desire to trade more effectively, and also to help other people out. As time goes on I'll try to get the template file correct.
Patriot Lines
It seems that if you change the thickness of the lines to one more than in the template file it makes it easier to see the patriot line.
Good Job
Thanks nittany1 for this system. Will test this on the USDJPY currency. I am also seeking a simple way to take the better trades.
Regards,
JBORGESNM
Eur/Usd 4H TF
Looks like the EUR/Usd on 4HTF might produce the next entry.
I will be looking at a Sell with a tight sto loss.
My gut tells me it'll head North again, so the re-entry on Buy might also be on the books. Should know in about 8 hours.
Your system looks interesting for a newbie trader like me.....I'll study it for real time trading in forex market.
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01 APR 2007
Patriot Road version 1.0
First off let me tell you I'm not a professional trader working in some fancy
ebony furniture lined office in a 50 story building in some penthouse suite.
I'm a regular guy trading at home in my home office with a computer I built
myself with parts I bought I found on pricewatch.
I've been trading for several months on a demo account, the past month on
a live account. Previously I have about 6 years experience trading stocks
live. After trying various manual trading systems and failing because they
are overly complex I knew I had to do something. I had to come up with
something with easy to understand charts.
My thing is, if I can't understand what's going on within about 10-15 seconds
I get shy and don't trade. I had to come up with something to accomodate that
tendency. I'm not alone, I've talked to other at-home traders and they say
similar things. Consequently, my benchmark is that if I can't explain how to
use a manual trading system within less than a minute, it's probably
too complex.
HOW-TO
Indicators on chart
* The red, white and blue is called The Patriot. It's a 62 SMA.
* The skinny red lines with the blue dashed line is called The Road.
It's a Keltner Channel.
* madro helps with trending and suggests signals.
* GMACD tells you trending on other timeframes at a glance.
Rules
If the price action is above The Patriot, the trend is up. If the price
action is below The Patriot the trend is down.
(quickie: above blue is buy, below red is sell)
Think of the price action as a car driving down The Road. In real life if
you're driving down the highway and you find yourself driving in the grassy
median you're going to want to get back on the highway. That's how the price
action is with The Road, you'll see it wanting to snap back to the
middle of The Road.
Don't always pay attention to the trade signals in madro, if the price
action is outside of The Road too long, remember, it'll snap back.
If you are on a 1 min chart and The Road is smaller than The Patriot,
your price action is sideways, make no trades. If you are on a 1 hour chart
and The Patriot looks like it's squeezed together and The Road is waaay off
to one side, trade confidently with the trend.
Futhermore
madro will help you with your trades by showing you how long a trend has
been going on the chart you're looking at. Blue for buy, red for sell
along the bottom. I made the arrows blue and red too.
GMACD will give you some trending information about other timeframes without
having to go back and forth between charts.
Where to Put Stuff
The three .mq4 files belong in ~\experts\indicators where ~ is the folder
where you installed your MT4 trading software during installation.
The one .tpl file belongs in ~\templates where ~ is the folder where you
installed your MT4 trading software during installation.
In Closing
Let me know how to improve this manual trading system. If you find
success let me know on the forums. If you have traded it successfully
with consistency, maybe we can make it into an EA. I have very minimal
programming skills so I would need your help with that, if you have
programming skills. My skill has always been with strong pattern
recognition.