Here's a nice simple system.
It was passed onto me, I take NO CREDIT for it (well maybe a little). Nore do I know where it originated. however I have changed and added a few things.
My normal trading style means that i am often looking at my screen waiting for trades which can take days to arrive. So i decided to try something while waiting and decided on this. i have only been demo-ing this for a couple of weeks but it has performed very well. Now I'm no fan of lots of indicators however this is a very simple trend following system.
open a 15m chart and open 4hr chart (add templates)
Buy Entry: look for long term trend on 4hr chart, make sure we have green candles and green dots
go to 15m look for the arrow to be Green, look for the candle to be Green, look for the ultra-signal dots to be Green....enter at the Break of that candle........vice versa for sells.
Take profit is up to you, I look at 'trendsqueezer' percentage, if it's low it signals the trend is getting weak so it could be time to exit.
For SL I often put it at the bottom of the signal candle
doesn't repaint, nice and simple.
I have been trying this on EU at 15m and 4hr. however there's no reason why it can't be used on other pairs and used for scalping or long term trades. Just pick a longer term trend and enter using smaller TF. I believe on the original they just used a single TF and entered in all directions.
below Pic is from today
It was passed onto me, I take NO CREDIT for it (well maybe a little). Nore do I know where it originated. however I have changed and added a few things.
My normal trading style means that i am often looking at my screen waiting for trades which can take days to arrive. So i decided to try something while waiting and decided on this. i have only been demo-ing this for a couple of weeks but it has performed very well. Now I'm no fan of lots of indicators however this is a very simple trend following system.
open a 15m chart and open 4hr chart (add templates)
Buy Entry: look for long term trend on 4hr chart, make sure we have green candles and green dots
go to 15m look for the arrow to be Green, look for the candle to be Green, look for the ultra-signal dots to be Green....enter at the Break of that candle........vice versa for sells.
Take profit is up to you, I look at 'trendsqueezer' percentage, if it's low it signals the trend is getting weak so it could be time to exit.
For SL I often put it at the bottom of the signal candle
doesn't repaint, nice and simple.
I have been trying this on EU at 15m and 4hr. however there's no reason why it can't be used on other pairs and used for scalping or long term trades. Just pick a longer term trend and enter using smaller TF. I believe on the original they just used a single TF and entered in all directions.
below Pic is from today
Attached File(s)