Hi
While working away trying to make trend trading mechanical I kept coming back to ZZ indicator..
One thing you must be aware of and the terms 'eggs and sucking' spring to mind here but dont forget on the current wave the zz can change but the past zz waves are locked in place and its these we use.
I have looked at it on my fav time frames the 5min..not too slow that you get bored and not to fast that you get manic
This type of system may of been posted here before but I couldnt find any thing under a search.
Im rushing out in 10mins but wanted to put some thing down on paper just to lock it here and remind me to post a few things about it.
Its selective last week on eurusd 5min only 7 signals
+1+30+44-14+4+40+71
initialy
Put a ZZ on your 5min chart set to 13-5-5 we use this for entry
Trend magic - we use this for our sliding stop
A vertical line at 8am uk time and another at 8pm uk time ...we dont trade the Asian session.
use this link to look at the forex opening times..just put in your location and click go..the chart above will then update with the correct times
http://www.forexmarkethours.com/
Will be back in 3 hours to show entry stops etc
Again please dont see this as faultless but see it as one to stick into the armourey
personaly I love it
Paulus
While working away trying to make trend trading mechanical I kept coming back to ZZ indicator..
One thing you must be aware of and the terms 'eggs and sucking' spring to mind here but dont forget on the current wave the zz can change but the past zz waves are locked in place and its these we use.
I have looked at it on my fav time frames the 5min..not too slow that you get bored and not to fast that you get manic
This type of system may of been posted here before but I couldnt find any thing under a search.
Im rushing out in 10mins but wanted to put some thing down on paper just to lock it here and remind me to post a few things about it.
Its selective last week on eurusd 5min only 7 signals
+1+30+44-14+4+40+71
initialy
Put a ZZ on your 5min chart set to 13-5-5 we use this for entry
Trend magic - we use this for our sliding stop
A vertical line at 8am uk time and another at 8pm uk time ...we dont trade the Asian session.
use this link to look at the forex opening times..just put in your location and click go..the chart above will then update with the correct times
http://www.forexmarkethours.com/
Will be back in 3 hours to show entry stops etc
Again please dont see this as faultless but see it as one to stick into the armourey
personaly I love it
Paulus
Attached File(s)
Trend Magic.ex4
3 KB
|
7,944 downloads
ZigZag.ex4
6 KB
|
5,943 downloads