Part 2 EURUSD Trend magic System (Part 2 EURUSD Trend magic System)
Original thread http://www.forexfactory.com/showthread.php?t=165948
The increased scale makes it difficult for newcomers to gain a deep understanding of the original system.
The following is the first post of this new thread and will list the original indicators used now. Any repaint indicators will not be posted as they create many questions which have been answered multiple times in the thread
The system can be used on any time frame
I like to use it in 5 minute and 1 minute timeframes, but also set it in daily and hourly timeframes, and I personally use it in daily timeframes as well.
I'm mainly using it on EURUSD, which was added on July 27, 1020, so the topic title changed.
A few words of history,
I found and used a combination of 2 indicators BB MACD and Trend Magic (TM). BBMACD is used to measure trend i.e. up or down, TM is used for entry and stop loss
BBMCD and TM are then merged into 1 indicator called HA_0001a, this indicator will give green bars when there are BBMACD and TM long signals and red bars when there are BBMACD and TM sell signals
Later it was developed into a Multy time frame version called HA_0001a_MTF, although this is a good indicator that does not repaint, people find it difficult to use, I will explain why
When you have a 5 minute candle, we know that the bar opened at 5 PM and closed at 5.05 PM, if we use the MLT indicator that shows 15 minutes, then we have to realize that when the 5 minute bar closes, it still takes 10 minutes for the 15 minute bar part of the indicator to run to completion... So you get a signal on 5 minutes, you look at 15 minutes, it confirms the same color, and you receive that signal... 10 minutes later, the bar is at 15 The minute is up and now the opposite color is shown, in hindsight you wouldn't have been caught and maybe you would have lost. This caused huge problems when looking back at the day's signal, so while it's not redrawn I won't include it in this thread
The next article will show indicators and settings
The increased scale makes it difficult for newcomers to gain a deep understanding of the original system.
The following is the first post of this new thread and will list the original indicators used now. Any repaint indicators will not be posted as they create many questions which have been answered multiple times in the thread
The system can be used on any time frame
I like to use it in 5 minute and 1 minute timeframes, but also set it in daily and hourly timeframes, and I personally use it in daily timeframes as well.
I'm mainly using it on EURUSD, which was added on July 27, 1020, so the topic title changed.
A few words of history,
I found and used a combination of 2 indicators BB MACD and Trend Magic (TM). BBMACD is used to measure trend i.e. up or down, TM is used for entry and stop loss
BBMCD and TM are then merged into 1 indicator called HA_0001a, this indicator will give green bars when there are BBMACD and TM long signals and red bars when there are BBMACD and TM sell signals
Later it was developed into a Multy time frame version called HA_0001a_MTF, although this is a good indicator that does not repaint, people find it difficult to use, I will explain why
When you have a 5 minute candle, we know that the bar opened at 5 PM and closed at 5.05 PM, if we use the MLT indicator that shows 15 minutes, then we have to realize that when the 5 minute bar closes, it still takes 10 minutes for the 15 minute bar part of the indicator to run to completion... So you get a signal on 5 minutes, you look at 15 minutes, it confirms the same color, and you receive that signal... 10 minutes later, the bar is at 15 The minute is up and now the opposite color is shown, in hindsight you wouldn't have been caught and maybe you would have lost. This caused huge problems when looking back at the day's signal, so while it's not redrawn I won't include it in this thread
The next article will show indicators and settings
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