Zero Line Reject | Foreign Exchange EA Download - MT4/MT5 Resources - MetaTrader 5 Resources
Greetings Traders, (The following is edited for the benefit of all working people)
Here are the trading strategies I think I would like. If you like it, use it. I call it zero line rejection. The original author calls it something else.
It has losers, there always will be deals. I have backtested D1, H4 and H1 as well as H1, M15 and M5. Any scalping is done during the active session.
Its rules are very simple and easy. You can have a job at the Financial Times and trade successfully. That's the main reason I'm sharing this. I've been looking for a system for 1H.
My personal chart would look something like...D1, 34 EMA, 14 EMA, 816 EMA, 14 CCI, 50 CCI, and fractals. I think that's it.
I await the daily disagreements. When the CCI closes below 100 on the 14th, it is "short". From there I wait a day or more. I go to H4 and draw the small fibers from the highest point to the nearest low point. If the price reaches a level close to 61%, I will go to H1 to set up a pending order/entry. I trade Asia and New York.
EDIT ~ I'm still using 50 and 14 CCI. The settings make no difference. I'm often 50 behind. This could be done by spending Sunday evaluating W1, a few minutes each day evaluating D1, and trading on H1.
Management -... withdraw one part at a 1:1 ratio and track the rest {at least set an alarm}... Track by fractal when the 50 CCI drops below zero... When the price closes below the 34 EMA, adjust your stop to the fractal high of the candle.
The risk is entirely up to you, don't bet the farm.
I will post the diagram. The first chart is very controversial, the price goes to 34, not necessarily above it, it's your decision. I'll trade it, I'll give it a vertical line.
Enjoy testing friends Reno
Here are the trading strategies I think I would like. If you like it, use it. I call it zero line rejection. The original author calls it something else.
It has losers, there always will be deals. I have backtested D1, H4 and H1 as well as H1, M15 and M5. Any scalping is done during the active session.
Its rules are very simple and easy. You can have a job at the Financial Times and trade successfully. That's the main reason I'm sharing this. I've been looking for a system for 1H.
My personal chart would look something like...D1, 34 EMA, 14 EMA, 816 EMA, 14 CCI, 50 CCI, and fractals. I think that's it.
I await the daily disagreements. When the CCI closes below 100 on the 14th, it is "short". From there I wait a day or more. I go to H4 and draw the small fibers from the highest point to the nearest low point. If the price reaches a level close to 61%, I will go to H1 to set up a pending order/entry. I trade Asia and New York.
EDIT ~ I'm still using 50 and 14 CCI. The settings make no difference. I'm often 50 behind. This could be done by spending Sunday evaluating W1, a few minutes each day evaluating D1, and trading on H1.
Management -... withdraw one part at a 1:1 ratio and track the rest {at least set an alarm}... Track by fractal when the 50 CCI drops below zero... When the price closes below the 34 EMA, adjust your stop to the fractal high of the candle.
The risk is entirely up to you, don't bet the farm.
I will post the diagram. The first chart is very controversial, the price goes to 34, not necessarily above it, it's your decision. I'll trade it, I'll give it a vertical line.
Enjoy testing friends Reno
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