I have a system that I have consistently gotten 50 pips per day for the last two years and would like to share it.

however I need someone to program an ADX indicator with the following parameters for MT4 and the abillity to change the settings of DI and ADX:


Directional Movement Index (DMI)

formula

1. The Directional movement:
If today's High is higher than yesterday's High then:
+DM = today's High - yesterday's High

If today's Low is lower than yesterday's Low then:
-DM = yesterday's Low - today's Low

If +DM is greater than -DM then:
-DM = 0
If +DM is less than -DM then:
+DM = 0

2. The true range:
True range is the largest of:
today's High - today's Low,
|today's High - yesterday's Close|, and
|yesterday's Close - today's Low|

3. Moving average of +DM, -DM and True Range:
+DMMA = exponential moving average of +DM
-DMMA = exponential moving average of -DM
TRMA = exponential moving average of True Range

4. The Directional Indicators:
+DI = +DMMA / TRMA
-DI = -DMMA / TRMA

5. Directional Index:
DX = |(+DI - (-DI))| / (+DI + (-DI))

6. The Average Directional Movement Index:
ADX = the exponential moving average of DX

resource codes

for(i=0; i<n; i++)
{
if(m_aHigh[i]>m_aHigh[i+1])
aPDM[i]=m_aHigh[i]-m_aHigh[i+1];

if(m_aLow[i]<m_aLow[i+1])
aNDM[i]=m_aLow[i+1]-m_aLow[i];

if(aPDM[i]>0.0)&&((aNDM[i]>0.0))
{
if(aPDM[i]>aNDM[i])
aNDM[i]=0.0;
else
aPDM[i]=0.0;
}

da=fabs(m_aHigh[i]-m_aLow[i]);
db=fabs(m_aHigh[i]-m_aClose[i+1]);
dc=fabs(m_aLow[i]-m_aClose[i+1]);
dd=max(da,db);
aTR[i]=max(dd,dc);
}

EMA(aPDM, p1, aPDMMA);
EMA(aNDM, p1, aNDMMA);
EMA(aTR, p1, aTRMA);

for(i=0; i<n-p1; i++)
{
if(aTRMA[i]!=0.0)
{
m_aPDI[i]=aPDMMA[i]/aTRMA[i]*100.0;
m_aNDI[i]=aNDMMA[i]/aTRMA[i]*100.0;
}
if(m_aPDI[i]!=-m_aNDI[i])
aADX[i]=fabs(m_aPDI[i]-m_aNDI[i])/(m_aPDI[i]+m_aNDI[i]);
}
EMA(aADX, p1, m_aADXMA);

for(i=n-p1-1; i>=0; i--)
m_aADXMA[i]=m_aADXMA[i]*100.0;



The ADX indicators I have for mt4 are a different calculation for the +/- di and hence are terrible for signals




I ONLY TRADE THIS ON GBPUSD
This will not work well on euro and the avg. daily range of euro is too small

5 min charts with 5/13 EMA and DMI 34/14.......DMI+ and DMI- ==34 and ADX 14



we look at the ADX 14 , this is our grail , as soon as ADX turns up from below and crosses 20 marked by WHITE line , we r ready to trade……….
On completetion of next candle[ 5 min candle] we place a buy order @ +5 of high of last candle { pls note that 5/13 EMAS would have crossed much b4 we enter our LONG trade} .Now we keep making it +5 of high of last candle , even if price starts to FALL , so now as soon as it hits our mark we have a LONG trade.
3….STOP LOSS…….we put a loss at -35 {includes 5 pips for broker}.
4…PROFITS…….1….we set limit order to take @ +50 pips
……………………2….we take ¼ @ +25 , next ¼ @ +50 , next ¼ @ +75 and last ¼ @ +100
……………………3…we take 2/3 @ +50 and with rest 1/3 we can play around.
5…WHEN NOT TO TRADE…….1…..During major Data time (NFP)
…………………………………….2…when made 50 pips for the day.
6…WHEN TO TRADE………….1…Between 2am EST to 12 noon EST[ not b4 and not after]
…………………………………2…whenever u need 50 pips, pls don’t get addicted to trading

Once in profit of 30 + pips move stop loss to b/e


Important info:

GBP support / resistance levels to figure these out we take the daily high and low from
3 p.m. est. and add or subtract these # from it depending on which way we are trading.

The # are: 100, 150, 200 and 250.
100 and 150 are moderate s/r levels you will see price action hesitate at these levels but usually go through however not always some times price will reverse at these levels so you need to watch them.
200 and 250 are strong levels. Price will most of the time stop and sometimes reverse at these levels so watch these like a hawk and take profits early if price starts hesitating too much when getting close to them.

Quick example of figuring these levels;

Take the 3 pm est write down the high and low of the previous 24 hrs and add / subtract the levels from there.






High = 1.7590 low= 1.7350

I get a signal to go long at 1.7395
Resistance levels will be 7350 + 100 = 1.7450
7350 + 150 = 1.7500
7350 + 200 = 1.7550
7350 + 250 = 1.7600

with a signal to go lon at 1.7395 I know I have a resistance point to watch for at 7450 but my target will be in the 7445 – 7450 range however I know that 100 is a weaker s/r level but will pay attention to price in the 1.7430 + range and close early for a profit if need be.

If my target for 50 pips was at 1.7550 + I know that if the market is not moving strongly I probably will close for 30 or 40 pips instead of waiting for 50.

This is an easy system to use. Watch it while demo trading it and you will get the feel for how important the 100 & 150 levels are. If there is data coming out the data can strengthen the lower levels.