Monday, January 21, 2013

Easy entry system coloured candles

Here's a nice simple system.
'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.
File Type: ex4     !SM_ADR Marker.ex4
File Type: mq4     CCIarrow.mq4
File Type: ex4     FXUltraTrend.edu.ex4
File Type: ex4     FFCal Headlines.ex4
File Type: tpl  colour candles 4.tpl
File Type: tpl     colour candles 15 4.tpl  

Tips of the Post: Go with the trend! Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals.

.

.