Hello everyone, i’ve been searching a system that i can trust, but unfortunately i dont find it yet.
So, i looked for MANY MANY systems here on babypips and i found a indicator that seems very good if we find someway to extract the best out of it.
The indicator its called ProFX01 and seems to work based on Parabolic SAR, but it includes some arrows that turn easier to see the changes in trend direction. I found it in other system called: System 32, you can download the zip of the indicator by searching System32 post on the forums. (i cant post links yet)
The way i have been testing is using fractals together with the PROFX, like this:
H4 TIMEFRAME or high
When the arrow appears i wait for the next fractal according the arrow
Bullish Arrow: Fractal High
Bearish Arrow: Fractal Low
Then, i wait for a candle break through the fractal level to open a new position.
It looks to have a good win ratio, but sometimes unstable, and this is the reason that made me write this. Find good stop loos and take profit methods.
The methods that i am using are:
Choose a swing or a fractal to set stop loss, then the take profit is 2x that distance.
On 50% TK set to a breakeven trade.
Sometimes it makes 13% on 10 trades and sometimes 2%, i think that the SP/TK methods are the reason for this instability.
It would be very interesting to have your help, backtesting or changing the setup.