Ok… It’s been a while since I have updated this thread… so for anyone still following here we go…
Primarily an updated strategy for the longer term CFD Index traders. Although this can be applied to any Forex Cross pairs and/or larger timeframes with equal success.
The Chart below is the US30 Index (4 Hour TF). I have imposed the XLV4 Indicator on to Raghee Horner’s GRaB Candles Indicator… Another great visual Indicator for those starting out in the FX Markets.
It retains all the simplicity of the MA Coloured Slope Strategy Green - BUY, Blue - Hold, Red - Sell…
The GRaB Candle Indicator is based on the EMA34 and is a way of incorporating coloured candles into the Coloured Slope Strategy… As you can see… it gives a nice clean idea of market sentiment on the longer term charts…
For an overview of Raghee’s Strategy and Indicator Please follow the links below
YouTube Part 1 | Part 2 | Part 3 | Part 4
GRaB Candle Indicator for Ctrader (Ver 3.3)
To overlay just add the MA Slope to your chart with settings EMA 34
GRaB Candle Indicator for Metatrader 4 (Add all 3) Long Candle | Range Candle | Short Candle
Add the XLV4 Indicator to your chart with settings EMA 34 (See US30 4H MT4 Below)
This Strategy should be used with Email / Sound Notifications in place, so you can live a little and get away from your screens. Hope this is helpful to all and a good addition to your trading arsenal…
PS: I will be adding a Post later showing how to add S&R Levels to your Colour Charts.