Besides posting the indicators I would like to mention that the purpose of this thread is to make forex trading enjoyable and stress free, also to point out the ideal time frame, and indicators to be used for trading, since there are numerous indicators found here one has a hard time trying to figure out which ones to use. A word about stop losses: personaly I do not find them helpful, however, one must close the trade on time!

Many are overwhelmed and just quit trading, but the ones that realize the power of forex can make unimaginable profits. So lets make it as easy as possible.

The most important thing in trading might be Rigth trading vs Incorrect.

Besides being a successful trader one must be able to control his/her emotions, and not think about forex only, he/she must be productive and enjoy life...

The indicators are attached below.

Attached Files

	WPRfast.ex4 (2.8 KB, 45 views)
	WPRslow.ex4 (2.8 KB, 46 views)

That's right..trading must be stress free and enjoyable...why should we think too much just to make pips.

__________________
Nic
Free Forex Strategy Communication Items

If you have a correct system you will not think about making pips, all you will do is set trades and follow a system, thinking about making pips does not make sence.

The trader should follow the chart and system to trade, thinking about a trade is not right.

Hello, I am attaching wpr's

Attached Files

	WPRfast.mq4 (2.1 KB, 51 views)
	WPRslow.mq4 (2.1 KB, 48 views)

I hate to say it, but your system could be very effective at lower timeframes too - with a bit of tweaking.

There are TWO problems involved using the HA candles with the WPR that one should be aware of and can be tweaked to make a much more effective system in my opinion.

HA candles "lag" the REAL price movement because they need to average high, low, open and close, so naturally the price has moved on by the time all this is done. The ONE overpowering candle one should never ignore is a HA DOJI, as this pretty much tells you of a reversal --- another hint with HA candles is to watch their size as they move up or down --- as they DECREASE in size, you are getting closer to the tp point !

The problem I see with the WPR is that it gives no ADVANCE warning of approaching a tp point, which could easily be solved by the addition of an indicator called "support AND resistance". By the time WPR shows a reversal (because you have to wait for each next candle to see if it changes color) it will be VERY late and the price will already be well past your tp point !

with this overlay on your chart, you will be getting an advance warning when youre approaching profit taking and there are a few others, like silverlining, zigzag pointer, super sr7 and super signals.

the last named chart overlays DO repaint, but they repaint because they are DYNAMIC SUPPORT AND RESISTANCE INDICATORS -- you can choose to take profit when they appear, or working on the lower timeframes (such as 1 or 5 minute) watch if another arrow forms above (for longs) the arrow that already formed, because after a slight retrace from the first arrow, the price will go to the next arrow, and so on as long as arrows are formed !

If you are using zigzags, I would NOT enter a REVERSE trade before you actually see the movement taking place, as often the zigzag may continue up a few more pips (although today with GU it was something like 20 pips move )
Understand that when a zigzag gives a reversal signal, that currency may not start its reverse move till the next intraday reversal point, of which the majors are 12 NOON and 12 MIDNITE, EST

of all of them though, the most important to consistent trading would be "support AND resistance", IMO !

enjoy and trade well

your obedient servant

mp

__________________
Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!

Thank you mp for detailed help to improve system.

Can you point me to indicators you suggested for tp.

I have tried super signals and it does not work it always gives exit signal then will remove next day, I am talking about exit signal on closed bar. I beleave I found much better system.

The system that I have listed at the beginning of the tread does not produce good results although it looks good. If you are willing to try it out use demo account instead of live one.

If anyone is willing to work with me to develop profitable daily system let me know, I still think lower time frames are not worht trading, where you make few pips.

Although I'm a fan of the Daily as well, everyone has different strategies, and I have seen live statements of expert scalpers trading the M1/M5.

We can't say what is the "best" timeframe.

Only what best suits us.

__________________
Ash's Signals

Ahh Super Signals, everyone who sees that for the first time thinks, "wooooooww", when looking at it's past signals, lol.

__________________
Ash's Signals