please dont hesitate to let me know ,thanks ya..
so let me post an EA or indicator which i think is useful so far. you need to strictly follow the rule of MAKING CUT LOSS in order to make sure your profit running..
but honestly sometime it is hard to follow rules all the time when seeing big swing (psychological burden to see paper loss)
again. must strictly follow the rule.. my steps are as below:
1.there are two different symbols constantly appearing on chart from time to time,
2.) when arrow appears on the chart, no matter up or down. make sure you set your profit level ,minimum to 5 pips if possible ,while cut loss point i will usually set BELOW THE 'X' LEVEL ,
3.)X level will be around 10 pips difference from arrow ,so i will make sure my cut loss point is less than 10 point ,usually i fix based on ratio 1:1 which means my cut loss point will be around 5 or 6.5pips OR when the NEXT ARROW appear BEFORE hitting the cut loss point,which ever earlier..
4.)usually out of 10 signals provided ,there will be around 2-3 losing trades , which means the percentage of winning is around 70-80%, usually the main problem is we too greedy and forget to follow the rules
5.)regarding the time frame, it is all up to you guys.. my preference is on M1 which is my usual trading time frame as i prefer to use this indicator for SCALPING PURPOSE. if you guys dont want to trade so frequent, you can just choose high time frame,
6.) currency pair ,i prefer to trade EURJPY, and it works quite ok so far( provided you stick to the rules and it fulfill your risk appetite, JPY pair having high fluctuation most of the time ,especially during UK,USA timezone
so you guys can go and try this out. and remember to follow rules , that is very important, because no matter how good is the indicator or robot, if you cant follow rules, eventually you will end up with trouble,i believe you guys surely know this better.
so download the EX4 file attached below.. all the best.
Thanked for the post: fabiois