I did some research and there is a company called winning solutions that is trading a system very similar to this. It is a paid program. I am not working it but from what I have found trading for GBP/USD currency has not been profitable for the last 2 months but the previous year they had good success. I am going to stick with this indicator I can trade multiple currencies with good pips. Happy Trading
Question This is not a automated trading system, is there an EA that trades this system automatically? The results have been excellent. Any suggestions or advise.
I've been testing this indicator and it works decently. I'm using it with the Euro and Cable on the 15 min time frame. For the cable I set it at a 34 pip stop loss and a 100 pip take profit. Out of 10 trades it'll hit the 100 pip take profit about 2-3 times out of 10. It'll stop out 4 or 5 times out of 10. And the remaining 2-3 times you have to be a bit discetionary but it'll usually be for good about 35 pips or better. So out of 10 trades you can usually make about 70-150 pips profit at least trading it this way. With the Euro your results will be similar with a 30 pips stop loss and 80 pip take profit and about 50-100 pips profit in about 10 trades. I haven't yet tested it with the GBP/JPY or EUR/JPY but I will in the near future. It is profitable most of the time with the above two pairs. Seven
I've been testing this indicator and it works decently. I'm using it with the Euro and Cable on the 15 min time frame. For the cable I set it at a 34 pip stop loss and a 100 pip take profit. Out of 10 trades it'll hit the 100 pip take profit about 2-3 times out of 10. It'll stop out 4 or 5 times out of 10. And the remaining 2-3 times you have to be a bit discetionary but it'll usually be for good about 35 pips or better. So out of 10 trades you can usually make about 70-150 pips profit at least trading it this way. With the Euro your results will be similar with a 30 pips stop loss and 80 pip take profit and about 50-100 pips profit in about 10 trades. I haven't yet tested it with the GBP/JPY or EUR/JPY but I will in the near future. It is profitable most of the time with the above two pairs. Seven
Also, when you get to 3 or 4 bars in your favor it's a good idea to move your stop loss to break even. Seven
I'm also looking at the GBP/JPY and EUR/JPY but it's better for the 30 min time frame for the Jap pairs. For GBP/JPY i set it at a 68 pip stop loss and a 200 pip take profit and may take profits earlier if it's retracing some. Seven