Alright, let’s get to it. We are only
concerned with three bars. The bar that starts at 9:30 AM EST and ends
at 10:00 AM EST, the bar that starts with 10:00 AM EST and ends at 10:30
AM EST, and the bar that starts at 10:30 AM EST and ends at 11:00 AM
EST. On my MT4 with forex.com these bars are: 13:30, 14:00, and 14:30.
Buy Signal: If the following parameters are “TRUE” at the close of any of the bars mentioned above we will
BUY at the market price.
1) Custom Trend must be blue (teal)
2) RSI must be above 50. Any reading above 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable.
However, the ADX is more of a "Condition" than a trigger. If it is not
above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Buy Signal: 1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
Attached Thumbnails
Sell Signal: If the following parameters are “TRUE” at the close of any of the bars mentioned above we will
SELL at the market price.
1) Custom Trend must be red.
2) RSI must be below 50. Any reading below 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable.
However, the ADX is more of a "Condition" than a trigger. If it is not
above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Sell Signal: 1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
Attached Thumbnails
Add On Signal: If your first trade hasn’t reached its take profit by the next morning
and you receive a new signal in the same direction, add on to the
position. If the first trade has 50-100 pips of profit move its stop to
break even. The take profit for the first trade should now be placed at
the same price as the add on trade.
Attached Thumbnails