No Indicator Trading System - ForexFactory #1254177

Hello everyone,
I released my indicator-free intraday system for you to use.
I will go over the system from start to finish and once complete I will post live trades and answer any questions you may have.
The system is based on support and resistance levels and I can use daily, 4 hourly, 1 hourly, 30m and 15m to establish trade entries.
I don't get it right every day, so there are no promises.

All support and resistance levels are marked/plotted on the line chart.



Let’s look at some different time frames so you can get an idea of ​​the big picture.

Draw horizontal lines on the nearest wave crests and troughs.



Now change the time frame to a 4 hour chart.



Adjust the lines so that the daily lines are on the 4-hour peaks and troughs

The picture below shows the 4hr line before adjusting to 30m.



Now do the same thing with the 30m chart so it looks like this.



I will soon reach 15 million charts.

A note on support and resistance.
Support and resistance lines don't always line up perfectly, sometimes they do, but most of the time they don't, you just have to work with what you have and you need to be flexible.

The next chart I want to discuss is my trading screen. I keep two charts open, one is the SR line and the other is a candlestick chart with the most recent SR line added. If you don't have room on the screen for both charts, you can set up a line chart and switch between line and candlestick charts.



support and resistance lines
The SR line is basically a price where there is a strong change in market price/belief in the value of a currency.
They are reaction/denial points that we can use to our advantage.



SR is visible on all time frames. The image below shows the 4 hour SR and 30m chart where the 4 hour SR is plotted



The image below is a 30m candle showing a rejection candle


We now have a support zone and rejection candle. Next we want to get into this industry, which you will find interesting.
Most traders enter trades when everything is going in their favor, I mean moving averages, MA crossovers, MACD bullish, etc.
If you use this approach, you will find it difficult to succeed with any trading system.
I'll explain....

The chart below shows a textbook close above MA type trade. The only problem is that you give up most of your money on your stop loss.


Stay tuned for more exciting news...