ADX is listed as the Average Directional Movement indicator in the indicators list
@Schendalzare54 - Welcome!
I would have you download and get familar with MT4 here. Open a demo account and practice. When you feel comfortable with MT4, try to apply the various systems listed here at Babypips. Install those indicators or Expert Advisors and trade on the Demo Account.
I would also highly recommend going through the The School of Pipsology. It is free and it will add depth of understanding to your trading. It is a valuable resource and it should be taken.
I can tell you how to find and install ADX but what I gave you above will serve you better.
[I]āGive a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.ā[/I]
[B]Chinese Proverb[/B]
Happy Trading!
Thank you High risk thats all i need to knowā¦
Hello,
I would like to thank you
It looks very promising
I would use double momentum strategy, to be sure to always take the right direction for my trade
Iāll let you know
Hi dear, i wanna clear one more thing, and i asked my question inside the pic (below) : plz answer me
Thanks
Just look at those yellow marked area and at those time this system and market both showed same signal for short, so did you took that, if so then explain plz and if no then tell us why not?
Please Donāt say there are series of indecision candles commen up, after happening the whole thing we all can say those time was consolidation period but when it just happening or just made you or any one of us couldnāt sure what will be the next candle, and i know some traders didnāt take entry upon doji or similar indecision candles but in your main chart with red circle you entered @ allmost hammer with some short mixture of long legged doji
Thanks once again
To address your question, I am not looking at candles to see if it is a hammer or doji. I am running purely by the entry and exit rules I have explained.
On your chart above, I would have entered short a few candles before when price was below EMA9 and ADX14 DI- was >20 and > DI+. I would have closed when DI- < DI+. Your Red circle would be my next entry point. However, I do not keep an eye on the chart all the time. When I leave it, I modify the trade by adding a SL & TP based on ATR14. If I come back and the trade did not reach SL or TP, I clear the SL & TP and continue to trade looking for the exit rule.
I was in that trade but had to leave. I set my SL & TP and when I returned I saw where I should have closed the order. That was the short period of time when DI- was < DI+. However, DI- was > DI+. So I removed the SL & TP and kept trading. Had I not stepped away, I would have closed the trade then.
Hope that addressed your questions.
Happy Trading!
Looks promising, thanks a lot for sharing. Will try to backtest it soon.
Good system. the best of the 3.
@Sylverayda - Thanks for the support although it looks I came in second. Will try again in a few months.
Thanks to all of you who tried the system and provided good feedback. I hope it will serve you well in your trading.
Happy Trading!!
Hello sir. im trying to understand the SL and TP. as what youve said.
tp is 1.5 to 2 times the ATR 14.
SL is value of ATR 14
my value of my ATR 14 is .0006
so SL = 60 pips? or something like that
TP = 120 pips(60x2) is this right?
thank you
An ATR14 of 0.0006 is 6 Pips or 60 Points.
Example:
EURUSD Bid = 1.27801
EURUSD ATR14 = 0.0006 (SL)
EURUSD ATR14 = 0.0006 x 2 = 0.0012 (TP)
StopLoss = 1.27801 - 0.0006 = 1.27741
TakeProfit = 1.27801 + 0.0012 = 1.27921
Hope this was helpful.
Happy Trading!
thank you so much ! sir
do you think it this method will work on 1hr TF?
It should. Your SL/TP settings should scale up with the longer TF as you use ATR14 as the source and it will adjust to the longer TF as well.
Happy Trading!
Vince-
With this strategy, do you take trades only in one direction? I mean If bias for today is buy would you sell based on this signal?
Hi Vince
Hope you donāt mind if I code this as an EA and run it for a while on demo? Iād like to run it on 23 pairs simultaneously. If youāre agreeable Iāll post a review on the coming weekās trading on Friday evening.
Feel free. I already wrote one. Would like to hear how yours did.
you dont mind sharing it ā¦do you?
Does this working on 1H , 4H and daily Chart? Or even all time frame?
hi the adx cross is repaintingā¦