Chin-Star trending system - MT4/MT5 resources
Hello traders,
I publish my personal trading system here. You will need 2 of my customized indicators for Metatrader. This is a trend following system and you need a lot of patience and some expertise in small fibers, support, resistance levels to exit the trade. It is still in a state of development. All suggestions welcome.
rule:
IMP: Use only 15 minute time range
1. Buy Alert = any one of the 2 indicators turns positive and reaches a defined level (+1500 for GJ and EJ, +15 for GU and EU).
2. Actual Buy = Second indicator is above the defined level (+1500 for GJ and EJ, +15 for GU and EU).
3. Sell Alert = any one of the 2 indicators turns negative and reaches a defined level (-1500 for GJ and EJ, -15 for GU and EU).
4. Actual selling = the second indicator is below the defined level (-1500 for GJ and EJ, -15 for GU and EU).
5. Buy Stop = any indicator below -1500 (for GJ and EJ) or -15 (for GU and EU).
6. Sell Stop = any indicator moves above +1500 (for GJ and EJ) or +15 (for GU and EU).
7. Exit = This is where you need some expertise, you have to close some lots at each Fibonacci level, nearest support and resistance levels and let the other lots run.
I only trade GU, EU, GJ and EU. This is a trend following system, if you notice that certain currency pairs are range-bound for a few days, just switch to other pairs. Use your own money management methods. When you follow the trend, always remember to close some lots and book some profits.
If you have any questions, please feel free to ask.
Good luck to everyone.
chinstar-alert-EU-GU-Ver1.ex4 and chinstar-alert-EJ-GJ-Ver1.ex4 are the alert EAs for this system. Attach it to the appropriate chart. It generates alerts when trades are coming, trade confirmations, it also sends emails and draws arrows.
:
1. Avoid signals late on Friday (e.g. after 9am ET).
2. If a signal occurs in the late afternoon during any session, do not take too much risk and trade with small lot sizes.
3. Don’t take signals before any big news comes out.
4. Strictly abide by the stop loss rules.
5. Follow the trend and make small profits.
I publish my personal trading system here. You will need 2 of my customized indicators for Metatrader. This is a trend following system and you need a lot of patience and some expertise in small fibers, support, resistance levels to exit the trade. It is still in a state of development. All suggestions welcome.
rule:
IMP: Use only 15 minute time range
1. Buy Alert = any one of the 2 indicators turns positive and reaches a defined level (+1500 for GJ and EJ, +15 for GU and EU).
2. Actual Buy = Second indicator is above the defined level (+1500 for GJ and EJ, +15 for GU and EU).
3. Sell Alert = any one of the 2 indicators turns negative and reaches a defined level (-1500 for GJ and EJ, -15 for GU and EU).
4. Actual selling = the second indicator is below the defined level (-1500 for GJ and EJ, -15 for GU and EU).
5. Buy Stop = any indicator below -1500 (for GJ and EJ) or -15 (for GU and EU).
6. Sell Stop = any indicator moves above +1500 (for GJ and EJ) or +15 (for GU and EU).
7. Exit = This is where you need some expertise, you have to close some lots at each Fibonacci level, nearest support and resistance levels and let the other lots run.
I only trade GU, EU, GJ and EU. This is a trend following system, if you notice that certain currency pairs are range-bound for a few days, just switch to other pairs. Use your own money management methods. When you follow the trend, always remember to close some lots and book some profits.
If you have any questions, please feel free to ask.
Good luck to everyone.
chinstar-alert-EU-GU-Ver1.ex4 and chinstar-alert-EJ-GJ-Ver1.ex4 are the alert EAs for this system. Attach it to the appropriate chart. It generates alerts when trades are coming, trade confirmations, it also sends emails and draws arrows.
:
1. Avoid signals late on Friday (e.g. after 9am ET).
2. If a signal occurs in the late afternoon during any session, do not take too much risk and trade with small lot sizes.
3. Don’t take signals before any big news comes out.
4. Strictly abide by the stop loss rules.
5. Follow the trend and make small profits.
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