Simple set up
1 Install the Livelli indicator onto any 1 hour forex chart
2 Change the emas to 7 and 28 as suggested by Davit
3 Place a vertical line on the chart at the start of the European or Uk session
4 If the 7 and 28ema have crossed and sloping up I would place 2 buy stop trades on the blue dots above the vertical
line at the beginning of the session
5 Both trades should have a stop loss of 50 pips with one trade taking profit of 10 pips
while the other trade is moved to break even and a trailing stop is given
6 Ema down trend ema crossed place 2 sell stop trades on the red dots below the opening of the session
The Livelli indicator is fractal and zigzag based and I tend to trade off the closing price of the signal candle
and not the dotted line but that is to the traders discretion
Although I haven't traded the system in the last 2 weeks you can see from the attached charts 200 pips would have been
captured on the Euro/Usd and over 120 pips on the /Usd and that is with a 100 pip loss
I have back tested most pairs were the spreads are low and it seems to average at least 20 pips a day /pair
7 If no trade as triggered by 6.00 pm cancel standing order
8 Be careful of setting any pending orders that are more than half the ATR from the European or UK opening prices
1 Install the Livelli indicator onto any 1 hour forex chart
2 Change the emas to 7 and 28 as suggested by Davit
3 Place a vertical line on the chart at the start of the European or Uk session
4 If the 7 and 28ema have crossed and sloping up I would place 2 buy stop trades on the blue dots above the vertical
line at the beginning of the session
5 Both trades should have a stop loss of 50 pips with one trade taking profit of 10 pips
while the other trade is moved to break even and a trailing stop is given
6 Ema down trend ema crossed place 2 sell stop trades on the red dots below the opening of the session
The Livelli indicator is fractal and zigzag based and I tend to trade off the closing price of the signal candle
and not the dotted line but that is to the traders discretion
Although I haven't traded the system in the last 2 weeks you can see from the attached charts 200 pips would have been
captured on the Euro/Usd and over 120 pips on the /Usd and that is with a 100 pip loss
I have back tested most pairs were the spreads are low and it seems to average at least 20 pips a day /pair
7 If no trade as triggered by 6.00 pm cancel standing order
8 Be careful of setting any pending orders that are more than half the ATR from the European or UK opening prices
Attached File(s)
livelli_sr_now.ex4
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