I decided to rewrite the original post and make it clear , this system name is Elder’s market rant gen. I took it from book (trading for living) with some modifications i made.It give a good results on back testing and short testing on demo account .
any way the indicators are :
Meta4 and candle stick , Gbp-Usd. daily (can trade other currency but need to adjust the indi settings min max of bears and bulls)
Ema 13 & Ema 26 use them for direction confirmation and buy sell zone around the channel
First window :
Bull power period 13 , fixed minimum -0.023969 fixed max 0.023969. add a zero line.
On this indicator you put Ema 1 green color , Apply to first indicators data .
In the same window of the Bulls put the Bears histogram too with the same minimum and maximum and same spread 13.
on it Put Ema 1 red . apply to previous indicator data.
Now you should get 1 window with 4 indicators in it, the 2 Emas make you kind of a channel that show the strength of bulls and bears at the same time .make it easy to compare who is in charge in each day.
Next window you put Force index with spread 10 and Zero line .
Next window you put Mcda standard 1 line , on it you add Ema 1 first indicator data , it will clearly show you the direction of Mcda histogram .
The game rules : The best is to check weekly direction with the 13 Ema and play only in this direction on the daily .
For buy: The Ema of the Bulls (green) should be above zero and show an uptrend between the previous candle and the current one . The bears Ema (red) have to show uptrend also , if it close or above the zero the signal is very good.
The force need to be above zero and if in uptrend the signal is strong.
The mcda histogram should be in uptrend or flat with signs of uptrend.
The candles should be around the channel can be beneath it inside or little above but not too much , if too much above wait for the next time.
Also very helpful can be S/R . The system itself has very good filters but S/P can only help .
if price stuck around the channel use S/P and basic candlestick patterns to avoid fakes.
Stop loss the low of previous day (can be around 100 pips as i trade daily )
Take profit in two lots 1 50 pips to cover costs the other i give it run and move SL up everyday with around 50 pips spread . the average it give around 150 -250 pips .
Good luck !