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Originally Posted by viktoriwan
Hello, can someone simplified the system and rules for this strategy...please view my screenshot..as i confuse regarding using every indicator to filter the open / close operation...
FXHedger, what do you mean about Trailing Order in what you mention before ? how to do the Order.. let say the ZigZag already signalling.. does it exclude the operation ?
Thx
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Hello viktoriwan,
Sorry for my late response.
What I mean by trailing the orders is that you place an order according to the signal, 10 pips above or below (above for buy, and below for sell) the previous candle.
If by the next candle the orders are not taken then move your order above/below the next candle (sort of like a trailing stop).
Reverse your order if the signal reverses. But how far you place the orders needs to be adjustable, Because different pairs fluctuate in their own way.
and further testing will make that clearer.
Because the Ziz Zag and SS tend to correct their signals. I think the best thing to do is to follow the signal with an order till it finds the top/bottom (according to it's set parameters).
An example would be, during a up trend, it will keep changing it's sell signals. by making higher sell signals. In such a case I would follow the signals with a distant trailing buy order until my order is taken. Once my order is taken, then Would follow my position with a distant trailing stop
bringing my stop closer every time. Like the dots of a Parabolic SAR.
But it's up to you. this does not catch the entire trend every time. Some times you just follow the signals with another order and when your new order is taken you close the earlier position.
As for the all the indicators. you don't have to follow them if you don't want to. You can use your own indicators, if you feel something looks better than what I have suggested.
If you need more clarity about how to use my sujested Indicators or any part of this system then please post your specific quistion and I will answer you.
once we have all the questions out of the way. I will be able to rewrite the system clearly so taht the all answers are in the description, and move to a new thread.
I hope I could clarify my self. In essence I want to say that the Zig Zag and SS together are good signals. but the system is still under construction.
Please try and use your own methods to capture better highs and lows. and please share it in the development of this system.
I would like to make another thread for this system. please make some names for the system. And we can use one of those.
Thank you all for helping make this system a reality.
