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Would someone kindly program the inside highly successful system?
First of all please excuse my language as English is not my first language and I will try to be as clear as possible.
The system I am presenting here today learned it from a professional and banker friend of mine and it is purely based on candlestick calculations and if you asked me if I applied it I would say a clear and loud NO because I found it boring as I like to keep things simple and my friend claims a 99.9% success if applied the right way and that was all with the stock market off course.
And after trying the forex I thought this system would work best for the forex but then again it is very boring and tiring to do a lot of calculations after every new candlestick and on all time frames so it is not practical to be applied manually.
It could be greatly useful in forex if someone could program it for us as an indicator or what ever he thinks is best and I think it will work best on longer time frames such as the 4H.
Here below is the explanation of the system:
For example the GBP/JPY yesterdays data 29/11/06 is High:227.14 Low:225.71 Close:226.54 so the average of 11/29/06 is 227.14+225.71+226.54 / 3 = 226.46
The same should be calculated for the previous 5 days or candlesticks
28/11/06 average is: 226.44
27/11/06 average is: 224.64
26/11/06 average is: 223.93
24/11/06 average is: 223.34
23/11/06 average is: 222.81
22/11/06 average is: 223.43
21/11/06 average is: 223.88
20/11/06 average is: 223.70
the calculations used are high+low+close/3=the average
And now we take the most recent five and do the following calculations:
so always add the most recent five candlesticks and divide by 5 discarding the old ones only the recent five candlesticks.
So in simple terms if today's moving average is above yesterdays moving average then in that day we are in an uptrend and the opposite is true.
But wait here below comes the main part of the system:
We note the High of the previous data or candlestick and that would be our entry point if it is broken or breached and that’s off course after doing the previous calculations and found out that we are in an uptrend then we enter the trade long and we shall make profit and the opposite is true so if we calculated and found out that we are in a downtrend then we note the Low data of the previous candlestick and if the low is breached we enter the trade short and we shall make a profit.
My friend is telling me that he has a rate success of more than 99% trading this way.
I hope that I made it clear and simple and I hope that someone is willing to make us an indicator out of this way that would work on all time frames with clear buy and sell signals and I don’t mind sharing it with the forum or anybody cause I read in many articles that some programmers are saying we make free systems or indicators if you are willing to share it with others I don’t mind anything as long as someone is kindly willing to help us create this system or indicator.
Also I am willing to answer any question and please provide your suggestion and will be more than glad for any feedback.
ok i made this in excel for the calculations (i'm not very good at coding mql4 so this is my contribution ), you still have to retype the numbers but i'm working on that (just want to get it up and make sure nothing else needs changing)
Quote:
So in simple terms if today's moving average is above yesterdays moving average then in that day we are in an uptrend and the opposite is true.
i took the sum of bars 1-5 to be todays moving average, 2-6 yesterdays moving average. hope thats right.
First of all please excuse my language as English is not my first language and I will try to be as clear as possible.
The system I am presenting here today learned it from a professional and banker friend of mine and it is purely based on candlestick calculations and if you asked me if I applied it I would say a clear and loud NO because I found it boring as I like to keep things simple and my friend claims a 99.9% success if applied the right way and that was all with the stock market off course.
And after trying the forex I thought this system would work best for the forex but then again it is very boring and tiring to do a lot of calculations after every new candlestick and on all time frames so it is not practical to be applied manually.
It could be greatly useful in forex if someone could program it for us as an indicator or what ever he thinks is best and I think it will work best on longer time frames such as the 4H.
Here below is the explanation of the system:
For example the GBP/JPY yesterdays data 29/11/06 is High:227.14 Low:225.71 Close:226.54 so the average of 11/29/06 is 227.14+225.71+226.54 / 3 = 226.46
The same should be calculated for the previous 5 days or candlesticks
28/11/06 average is: 226.44
27/11/06 average is: 224.64
26/11/06 average is: 223.93
24/11/06 average is: 223.34
23/11/06 average is: 222.81
22/11/06 average is: 223.43
21/11/06 average is: 223.88
20/11/06 average is: 223.70
the calculations used are high+low+close/3=the average
And now we take the most recent five and do the following calculations:
so always add the most recent five candlesticks and divide by 5 discarding the old ones only the recent five candlesticks.
So in simple terms if today's moving average is above yesterdays moving average then in that day we are in an uptrend and the opposite is true.
But wait here below comes the main part of the system:
We note the High of the previous data or candlestick and that would be our entry point if it is broken or breached and that’s off course after doing the previous calculations and found out that we are in an uptrend then we enter the trade long and we shall make profit and the opposite is true so if we calculated and found out that we are in a downtrend then we note the Low data of the previous candlestick and if the low is breached we enter the trade short and we shall make a profit.
My friend is telling me that he has a rate success of more than 99% trading this way.
I hope that I made it clear and simple and I hope that someone is willing to make us an indicator out of this way that would work on all time frames with clear buy and sell signals and I don’t mind sharing it with the forum or anybody cause I read in many articles that some programmers are saying we make free systems or indicators if you are willing to share it with others I don’t mind anything as long as someone is kindly willing to help us create this system or indicator.
Also I am willing to answer any question and please provide your suggestion and will be more than glad for any feedback.
Thanking you all in advance.
can u please say more about profit target and stop loss. thanks.
As far as I can tell, your calcualtions are simply a 5 period simple moving average based on what is known in Metatrader as the TYPICAL PRICE: (h+l+c)/3
The attached indicator will draw Long Bar and Short Bar arrows for you.
Long Bar arrow = the prev. bar's average is higher than the bar before it.
Short Bar arrow = the prev. bar's average is lower than the bar before it.
Laters,
FX Sniper
__________________
"I do not need a compass to tell me which way the wind is shining."
I would really like to thank you all guys but it seems that trevman is the one who understood me and I would like to thank him for a great and nice work by the excel sheet and I have to admit that now he made things much easier for me.
But it would still be great to have this by an indicator.
Also I would like to thank Ziko123 and FX Sniper for their work but that is not exactly what the system is.
And regarding profit target and stop loss I really don’t have information on that but I can check with my friend.
It seems that I did not succeed in explaining the system because of my language but to understand it more please download trevman excel sheet and fill the information needed to understand the system better it is a very successful system with my friend and he is making great gains from it in the stock market why shouldn’t it work for the forex?.
I would really like to thank you all guys but it seems that trevman is the one who understood me and I would like to thank him for a great and nice work by the excel sheet and I have to admit that now he made things much easier for me.
But it would still be great to have this by an indicator.
Also I would like to thank Ziko123 and FX Sniper for their work but that is not exactly what the system is.
And regarding profit target and stop loss I really don’t have information on that but I can check with my friend.
It seems that I did not succeed in explaining the system because of my language but to understand it more please download trevman excel sheet and fill the information needed to understand the system better it is a very successful system with my friend and he is making great gains from it in the stock market why shouldn’t it work for the forex?.
hi
Trevman has calculated yesterday's average for 5 bars including the current bar. Is this correct? or it should be only for the current bar?
So yesterday's average is calculated for 5 bars including the present bar, and today's average is calcualted for 5 bars excluding the current bar right?
__________________
To be the best, you have to beat the rest!!!
It is better to be approximately right than precisely wrong
hi
Trevman has calculated yesterday's average for 5 bars including the current bar. Is this correct? or it should be only for the current bar?
So yesterday's average is calculated for 5 bars including the present bar, and today's average is calcualted for 5 bars excluding the current bar right?
That seems exactly true yes, although that is not how the instructions went in the first post I think. Using the current bar's info sounds a bit meaningless as it will continue to change all the time till it finally closes.
Anyhow, I've got other things to do.
Good luck !
FX Sniper
__________________
"I do not need a compass to tell me which way the wind is shining."
...it is a very successful system with my friend and he is making great gains from it in the stock market why shouldn’t it work for the forex?.
Perhaps your "friend" is using EOD data and not live intraday data and if so, pure logic dictates there is no way in hell he knows the next days values so he can only use what he has now which is the closed values of today and yesterday which tomorrow would be 1 and 2 days old info which is what the indicator draws I posted.
Anyhow, hope someone else can help you out here.
FX Sniper
__________________
"I do not need a compass to tell me which way the wind is shining."
), you still have to retype the numbers but i'm working on that (just want to get it up and make sure nothing else needs changing)
Linear Mode
