Dear traders.. Look very simple system. In it there is nothing new. But the system is clear to work very easily also to me, using this system. I have mounted it, having applied all known indicators. The system well works on all currency tools and on all time periods. I shall be glad, if you will like system. Successes
Please post your indicators?
Dear. Thanks that have shown attention to my system. Indicators in the appendix. Parameters SMA_С 13, 3. Others by default.
Now about that as I work. On forex I about 10 years. For these years has tested many systems and experts and has come to conclusion that all systems are based basically on movings to which another are put set of indicators much. I have mounted the system from that that it is possible to find at forums and I consider that this system rather simple in work. I trade by a principle scalping in borders of the channel by means of indicators. As well as all dealers I banish system on D, H4 and H1 for definition of a direction of movement of the market and I enter into the market and I trade on M5. I the person free from all another matters (me 82 years) and consequently a lot of time spend behind a computer. Main my reference points on schedules are the price, borders of the channel, ZIG ZAG and other indicators. Important for me is ZIG. This indicator never repaint. If it has risen on MAX that it will pass to another MAX only after will find point MIN. For example the price has approached to the top border of the channel but ZIG costs on MIN at the bottom border of the channel and will rise on MAX after the price will leave downwards on some bars, confirming with that, that the trend downwards more was less fixed. In it positions I dare to make SELL. SL and TP I do not put all I define on movement of the price within the limits of my system. All of successes.
I apologize for translation quality. Has had time to forget English language.
Victor, can you give better explanation? There are 2 zigzag indicators in your file. One is zigzag pointer and the other one is high low v2. I'm not sure what you mean by ZIG never repaints. Maybe explain in picture is easier.
nice system! I like it.
Kenny: I think Victor means that the ZIG will only indicate a potential extremum after a meaningful retracement from it. Say, we have a ZIG establishing a MIN at 100.00, right? The price will then go up to 101.00. But there will be no MAX established by the ZIG untill the price retraces to some extent, say, down to 100.80. Only then the ZIG will show MAX suggesting that probably the uptrend is over for now.
Victor, correct me if I'm wrong.
Also, by ZIG, do you mean the one that produces an arrow, ZigZag Pointer? Or is it High_Low v2? Which of them is the final signal for you? Do you wait for both to show up?
Also, I do not have the Channel on 5 minute chart. Is it normal?
On the picture, would you wait for the yellow line of zigzag High_Low v2 to appear and then go buy?
Dear. I give additional information High_Low v2 (ZigZag) remained (look schedule 1) on MIN on the bottom border of the channel though ZigZag Pointer already stood on the top border of the channel informing about a turn of the price As soon as the trend downwards закреплся Zig has passed on MAX on the top border of the channel (look schedule 2) at this time it is possible SELL.
All of successes.
This system looks pretty o.k...
This system looks Ok for me,I'll try it for sure!But I want to know if I can use in on lower timeframes as well,such as 30,15 or 5 min.
I think definitely not on 5 min, because the Zig will be confirmed too late. It is not designed for market fluctuations like on 5 minutes. Just my opinion.
I'd probably use fractal breakout instead, with very close profit targets and tight stops.
I'm a bit of a channel and bands trader myself when I'm manually scalping, so we both like trading on borders. This is a principle of reversion of mean that has been shown in Market Profile to be a recurring theme. Normally, I draw the channels in myself because the SHI channel changes over time...so the top of the channel for that indicator now can become not the top later.
I have not tried the indicators on a live chart, so maybe next week I take a look in real time. I'm still a little confused with the zigzag, wouldn't it be much easier to just trade the borders, why do we need zigzag?
Also, do you take trades opposite of channel direction?