A modification of Kijunsen indicator.
The Idea is to open on cross of the middle line or near it into same side of the line. If line goes down then sell if up -- buy
What do you think?
I've tried putting this indicator on a 1-H chart alongside BollBand(20)
then reduced the time-period from 61 (which seems to be default) to 31 .. which brought the two more or less in line.
remains to be seen whether it will serve a purpose .. or maybe between the two of them together.
I am using dozens of indicators & experts on any number of templates .. the holy grail is still very elusive.
no sooner I get the impression that the successful traders work on nothing less than 4-hour timeframes, along comes someone swears by the five-minute system.
one will get there eventually.
I tried the signal with Trader EA and on eurusd 1H it looks not bad. But uses martingale lot with multiplier = 1.1 no trailing, no breakeven.
here is the report:
Trading manually I think can filter floating market signals and achieve much better results
In context of Kijunsen, a good look at Ichimoku Chart will solve the biggest problem of finding what the trend is. Once the trend is known on a higher TF, try to trade in the same directionon smaller TFs. Use stop losses that your Account can bear - small SLs get hit often but preserve capital, large SLs do not get hit that often but when they go they take a chunk of your capital with them. So, the SLs have to be in propotion of you A/C size. Keep in mind the volatality of currecncy you are trading,GBP would need a bigger SL than Duro GBP.
Money making is not easy in any field but the rewards are higher in FX. So, work hard !
Wish you all Pips !
It is a good idea about using the line from higher timeframe.
I did some changes to the indi and now it allows to specify the period
on which to calculate.
Default value = 0 to use current timeframe other valid values are:
(Timeframes - MQL4 Documentation)
It is a good idea to use the linwe from higher timeframe.
I added an anption to the indicator to specify the timeframe.
Valid values are:
60 - 1H
240 - 4H
1440 - 1D