Dear all,
Here I present to you my new System, AshFX Daily.
I’ve been working on this system for quite a while; I wanted to make it accurate, yet simple at the same time. I believe I have achieved that. It is designed for the Daily Timeframe, and can be used on any currency pair.
These are the indicators that are required:
- Parabolic Stop and Reverse (PSAR, 0.03, 0.2)
- AC (Accelerator Oscillator)
- AO (Awesome Oscillator)
- Stochastics (5,3,3)
Take the attached template and apply it in Metatrader. Use it on the Daily Timeframe (D1), on any currency pair. By the way, these indicators can be found in any platform, so you are not limited to MT4.
Now I will outline the system:
ENTRY
Sell: When you see the PSAR dot above the candle, AND the AO is red, AND the AC is red, AND Stochs are crossing down but are not below the 50 line, AND the candle is a bearish candle, then enter short. Only enter at the close of the candle. These are the best signals, but sometimes if the AO isn’t compliant, one can still take the trade; it will usually turn red within the next couple of candles.
Buy: When you see the PSAR dot below the candle, AND the AO is green, AND the AC is green, AND Stochs are crossing up but are not above the 50 line, AND the candle is a bullish candle, then enter long. Only enter at the close of the candle. These are the best signals, but sometimes if the AO isn’t compliant, one can still take the trade; it will usually turn green within the next couple of candles.
[Also, one can take a short trade if the Stochs have crossed below the 50 line (but still above the 20), but in this case the SL would be at the swing high. Likewise, one can take a long trade if the Stochs have crossed above the 50 line (but still below the 80), but in this case the SL would be at the swing low.]
EXIT
Initial Stop Loss is at the high/low of the candle (i.e. day’s high if going short, and day’s low if going long).
As for Take Profit, then there are two methods of exiting that should both be used together. The first TP is equivalent to the same number of pips as the SL. So for example, if your SL is 100 pips, then your first TP would also be 100 pips. Once this TP is hit you will close half of your position AND you set your SL to breakeven.
The second TP is when the AO (Awesome) turns the opposite colour. So if you’re long, then you would exit the second half of your position when the AO eventually turns red. Opposite for sell, i.e. if you’re short, then you would wait till the AO turns green, and then exit. Only exit at the close of the candle of course.
You may download the PDF and MT4 Template here...
Look forward to questions/analysis/discussion/testing.
Happy trading!
AshFX
AshFX Daily
Linear Mode
