Currency Strength Trader
Currency Strength Trader is a low risk system with stop loss and take profit levels. It is a combination of two advanced Forex trading systems into one. The system combines advanced Momentum trading strategy with Advanced Currency Meter. (Check my product page to download for free). These two combined create good conditions for early trend entry and safe exits. Advanced Momentum trading shows shift in Momentum from one market direction to another thus a good indication for early trend entry.
- Low risk: The system has an early trend entry capability and is also equipped with stop loss and support and resistance levels. These combine to form a low risk system.
- Signal at beginning of candle.
- 100% non-repaint: The confirmation signals do not repaint. The pre-signal which is given before the main however does repaint as expected because it just pre notifies of a possible signal.
- 100% non-backpaint.
- 100% accurate statistics: The indicator has a what you is what you get (WYSIWYG) statistics. All the stats are transparent and can be confirmed.
- Take profit & stop loss: The system has up to three take profit levels (TP1, TP2, TP3) and a stop loss based on support and resistance levels.
- Success rate & profits: The statistics shows the accuracy of system and the number of days of data collection. We know accuracy could be deceiving sometimes so the statistics also shows net profit in pips to show possible profits and loss with the system.
How to use
- Step 1: Use the statistics to find the best pair and timeframe to trade (volatile pairs on M1, M5 timeframes recommended, but higher timeframes <H4 are also ok). Ensure Accuracy for TP1 is at least 70% and TP1 net profit is positive.
- Step 2: Ensure the Currency Strength Arrow is in signal direction.
- Step 3: Enter trade on confirmation signal.
- Step 4: Close partial profits at Take Profit 1 and Take Profit 2 levels, take final profit at Take Profit 3 level. Close losing trades at Stop Loss Level.
- BARS: History
- Signal Mode: Momentum mode
- Signal Period: Momentum period
- Signal_Ratio: Momentum ratio
- Stoploss: Average True Range stop loss
- Takeprofit: Average True Range take profit
- Enable Pre-Signal: true/false
- Currency_Strength_Alert: Send Alert only Currency Strength Signal agrees with chart signal
- Minimum Currency Strength offset: Greater value than this will trigger currency strength signal
- Ma_Filter: true/false
- Ma_Period: MA period
- Volume_Filter: true/false
- Display Currency Meter Panel: true/false
- Display Statistics Panel: true/false
- Theme Color: Panel theme colors
- Show SL & TP Lines: true/false
- Sound_Alert: pop-up alert (true/false)
- Email_Alert: true/false
- Phone_Alert: true/false
Note: For accuracy, always filter the chart signals with the Currency Strength Signal. Good luck and happy trading!
Input Menu Options
1. Fibonacci Bars: This is the number of bars to use in calculating Fibonacci high and low (100% and 0% lines).
2. Offset: This is the difference between the currency values in a pair (e.g., AUD=7.0, USD=2.0-- AUDUSD Offset = 7-2=5.0)
3. ShowFibonacci: Enable or Disable Fibonacci lines.
4. ShowSupportResistance: Enable or Disable Standard (Floor) pivot lines.
5. alertsMessage, alertsSound, alertsEmail: Enable or disable signal notification.