Hi Folks
Please understand that this system makes money as a manual trading system and I have no wish to pay a coder to code one of my systems and then still make money from it.
If that offends anyone, so be it, but at least it has been said right up front.
This originated after following the Bouncing Pip Thread, f
ound here, and not liking the fact that ZigZag called the shots. So I reversed the logic and placed the trend determination first and only then trade the "Bouncing Pip".
I am not going to discuss the management or exit of the trades, anyone who does code will have a good idea as to what type of exit strategy suits this entry strategy once they understand it and manual coders will choose to exit based on what they see when they see it, much the same way that I do. I exit based mostly on Gut and Vision, this cannot be written into an EA but I am happy discuss options that may or may not be good idea's?
The basics are this;
H4 chart, any pair, although I mostly trade only the EUR pairs manually.
Long Trades
When Mega Trend and Trend Histo are both
blue, trade any
Red dot that appears as soon as the dot appears, do not wait for the end of the candle.
Short Trades[/b]
When Mega Trend and Trend Histo are both
Red, trade any
Blue dot that appears as soon as the dot appears, do not wait for the end of the candle.
SL is usually 21 or 34, but I vary this depending on my perception of trend strength.
Float is on the chart purely as a visual confirmation, it has a fairly decent ability to pick final Highs and Lows, which helps when I want to load a trade with a few more lots than normal.
This is the basis of the system, please don't fire questions at me about trade management and closing of trades, I do not have the answers, I close on what I see, all I can tell you is that I almost never close the entire trade, but if Trend Histo changes to Yellow, I usually close out half the position and allow the balance to trail with a fixed TS.
The value of the TS is normally anything from 34 to 144 and based purely my perception of the strength of the trend.
Thanks
Wayne
Picture added.
All Indicators used on the chart are posted in this post with the exception of "Magnified Market Price" which is just a visual aid and zigzag_pointerV2 which is purely there to show me any repainting that may occur from Swing_ZZ.