Hello traders. I have embarked on a new trading method and I wanted to share it with you.
First I want to say I did not invent this system and all credit should go to a trader named Eelfranz. This is his method and he has a huge thread about it on another forum. I just wanted to bring it here because the method is very simple and so far it seems very profitable.
Here is a rundown of what is entailed…
Timeframe: 4H or 1H (the original author trades 4H I prefer 1H)
Pairs: Any pair you are comfortable with
indicators:This method uses Heiken Ashi candles + TDI +Stochs for conformation
I will attach a template file for MT4 to simplify things.
Bottom line with this method, it is very simple it can be used on any timeframe and with any pair but I feel reliability would be much lower on lower time frames.
What we are looking for first and foremost is a cross of the tdi indicator. If the green line crosses up through the red line we are looking to buy. If the green line crosses down through the red line we are looking to sell. Also note where the tdi is. It is a much better signal to sell if the tdi is coming up from under the 50 line and a much better signal if the tdi is coming down from above the 50 line.
Second thing we look for is Stochastics. We are only using Stochs for confirmation. If they are oversold and pointing up than it confirms the buy. If they are overbought and turning down it confirms the sell.
Third we have a 5ema on the chart but that is just visual and not really used. Allthough there is some advanced exits that can be done with it and we will discuss that later.
I also have an indicator called Bid_Ask_BDv8 which I use to see the price at a glance.
Big_E.zip (7.47 KB)