I found out this Indicator thorugh Internet search. It is called Forexgrail
It is a spread Sheet.
How to use this indicator
Copy to Meta trader Indicator section
Extract the zip
Open the excel File called forexgrail and enable the automatic update
in the excel sheet
In the Meta trader go to option/Server and click DD SERVER ENABLE
The excel sheet starts updating the rates etc of the currency pair
and shows which currency is weak,neutral, raising and strong
The MT 4 and the excel sheet should be open to get the updates
Please note I am also new to this indicator but check it out
Up date for the entry and exit rules
The spread sheet will be used only for the general guidence of the currency movment to pick up
the best currency pair
The spread sheet is not used for basket trading but to buy or sell single currency
The entry is based on watching the resepective charts and for that we are going to use the following indicaors
Auot pivot
EMA 100 with shfit 10
Modified version of ichimoku
MACD 12 26 9
Time Frame H 1
Entry
The spread SheetShows one strong currency and one weak currency Say GBP strong and JPY weak
Open the GJ Chart of one hour and if you see the Candles are above the 100 EMA there is a probability of Strong trend is developing for a buy in GJ
You will be using the Pivot indicator for the better understanding of the support and resistence levels
For Eg if the one hour candles are above 100 EMA as well as based on the pivot indiacator say the
candles are moving around weelky S1 or S1 and by looking into the strength of the currency
a buy order is placed and the contracts can be closed based on the subsequent movment to the R1
or R2 levels
If a trader wishes to keep the contract alive he can adjust stop loss accordingly
The following stop loss are suggested for some imortant currency pairs
GJ SL 100 TO 150 pip
GU SL 50 to 100 pip
EJ SL 50 to 100 pip
EU SL 30 to 50 pip
For Trading Short you will be using the reverse method
We are also looking into the possblity of long trade but not basket trading
I am attaching the templet for the system
It is a spread Sheet.
How to use this indicator
Copy to Meta trader Indicator section
Extract the zip
Open the excel File called forexgrail and enable the automatic update
in the excel sheet
In the Meta trader go to option/Server and click DD SERVER ENABLE
The excel sheet starts updating the rates etc of the currency pair
and shows which currency is weak,neutral, raising and strong
The MT 4 and the excel sheet should be open to get the updates
Please note I am also new to this indicator but check it out
Up date for the entry and exit rules
The spread sheet will be used only for the general guidence of the currency movment to pick up
the best currency pair
The spread sheet is not used for basket trading but to buy or sell single currency
The entry is based on watching the resepective charts and for that we are going to use the following indicaors
Auot pivot
EMA 100 with shfit 10
Modified version of ichimoku
MACD 12 26 9
Time Frame H 1
Entry
The spread SheetShows one strong currency and one weak currency Say GBP strong and JPY weak
Open the GJ Chart of one hour and if you see the Candles are above the 100 EMA there is a probability of Strong trend is developing for a buy in GJ
You will be using the Pivot indicator for the better understanding of the support and resistence levels
For Eg if the one hour candles are above 100 EMA as well as based on the pivot indiacator say the
candles are moving around weelky S1 or S1 and by looking into the strength of the currency
a buy order is placed and the contracts can be closed based on the subsequent movment to the R1
or R2 levels
If a trader wishes to keep the contract alive he can adjust stop loss accordingly
The following stop loss are suggested for some imortant currency pairs
GJ SL 100 TO 150 pip
GU SL 50 to 100 pip
EJ SL 50 to 100 pip
EU SL 30 to 50 pip
For Trading Short you will be using the reverse method
We are also looking into the possblity of long trade but not basket trading
I am attaching the templet for the system
Attached File(s)
forexgrail.zip
183 KB
|
5,868 downloads