257 Pips, One Afternoon, One Rusty Old Indicator (--- spreads = 225 pips ---)
DISCOVER SCALP TO FREEDOM K.I.S.S. (Keep It Simple Sweetie) FOREX TRADING SYSTEM
Let's give 6 pips average from not getting out at best --- below still seems to give: 177 pips in an afternoon??
I put the good old indicator "Forex Freedom" which appears to tell whether the CCI is over or under the zero line on 4 different timeframes. The BIG question is is this indicator going to give accurate readings of the past?
It would be very very simple to put this through strategy tester. The settings I have on the chart below are M5, M15, M30, M30 as the timeframes and all the CCIs set to 2.
All the entries on the chart below give at least 10++ pips - some give 30++ pips. Colored rectangles are of no significance. Exit needs idea. Stop loss is + spread + 1 pips below previous candles high/low which means every signal is a winner according to my chart.
Although this indicator repaints severely, I'm banking many pips with this indicator (and other systems). There was a run this afternoon (19-9) that gave 100 pips in an easy a way as making a peanut butter sandwich...
The signals are giving a potential 200 pips daily so start banking before the effect wears off. It's my gift to traders. But use with caution. The market will have you out if you don't use your head even if there is a signal.
This thread has some LIVE trade updates when I have the inclination. To see who coded this indicator, someone may comment on this thread or look inside the mq4 attached.
Each potential entry is on CLOSE of marked candle/ OPEN of next candle due to entry being signalled by close with all forexfreedoms same color then enter on open of next candle.
Update 23/3/10. I am willing to share my best trade calls with a few forex traders (50 max). You will get entry, stop, take profit and money management. Approx 2 trades per week at present. HERE.
All the entries on the chart below give at least 10 pips - some give 30 pips. Colored rectangles are of no significance. Exit needs idea. Stop loss is + spread + 1 pips below previous high/low which means every signal is a winner according to my chart.
However, what I don't know is if it has reset/repainted or whether these were the true signals.
May be worth forward testing if only for a day to see if there is anything in it. To see who coded this indicator, someone may comment on this thread or look inside the mq4 attached.
I used to have a similar one based on FX Sniper's Ergodic trigger. At first I was really excited, but I realised that the lower TF bars changed only at the close of the higher (ie the last 12 squares would be painted blue if the trend was up, while up to then, they would be red).
Just to make sure, I will have a look for a couple of days and see if this is any different.
Got it. So if reprogrammed to read individual TFs may be can find accurate combo.
That would probably be great. Please let us know if you make it work
Its very interesting,but i can not open the file???
I just started testing it on GBPUSD M5 with your settings, and it behaved very well (70pips on first trade, OK I guess I've been lucky on this one), but after a while I noticed the indicator repaints itself very often, indeed, so I'm not sure one can trust it.
I'm not sure I got your stoploss rule right : you put it "spread+1pip" below previous candle high on a buy, and up previous candle low on a sell, is that right?
I'll keep you posted on my results.
Perhaps we can use some filter against the repaint problem....coz I think its a interesting idea for a trading system.
Hi Berti - The file needs to be saved in your c:/programs/metatrader/experts/indicators folder and then applied to chart. I do not think it requires anything else to function.
Tagada - great start.
RE stop loss...it is only an idea.
If the signal is BUY --- put stop loss + spread +1 pip BELOW the LOW of the previous candle and move it up by one candle each candle painted.
If SELL --- stop goes + spread + 1 pip ABOVE the HIGH of the previous candle and is moved down by one candle. In other words if the next candle goes below the previous high/low then an "insurance" exit is triggered.
We're looking for short runs in a particular direction for 5-100 pips multiple times in the day.
2nd signal of day...
I took the second signal on this chart. Good for 50 pips so far. That's $38,000 if you're trading for $1000 per pip remember. In less than 5 minutes work.
I don't know if the first signal was a repaint but it is 100 pips ++ trade. I was not in front of my charts at that time.
That's MORE THAN 150 pips.
150+ Pips In 3 and a half hours since UK open(if you count 8 AM GMT as UK open)
This is simpler than ANY forex trading system in the world.
Peace and love,
PS Both the red lines on the chart show signal to enter on OPEN of that candle = in other words you get the pips from that candle!
Thanks from your info,i have loadet the Indi.
I wonder if you trade this tech live? Profitable? Thx!