VQ Trading System | Foreign exchange indicator download-MT4/MT5 resources
After some changes, I found that the VQ indicator is the best indicator for detecting trends.
After many hours of tweaking and testing. I've changed the default value for length from 5 to 7 to better capture the trend. The system can work in both turbulent and popular environments.
The TFs I used are 1M, 5M and 15M, with lengths of 7, 7 and 35 respectively.
If you don't have much time for day trading, you can change the length to 35 and use it on the 15M chart. The values I found came after hours of manual testing. The only difference from the standard VQ indicator that has been around for a long time is the change in length.
You can use EA MPTM's Jump Stop feature in conjunction with indicators crafted by Steve Hopwood, or use standard Stop Loss and Take Profit.
With a small TP of 1M TF and a length of 7, the effectiveness of the trading system on EURUSD is almost 90%. If you lose a transaction, you can linearly increase the lot size for the next transaction. This sounds like a martingale, but it rarely goes beyond 3-4 lots before taking profit is hit. Just test it manually for a few days and you'll know the results speak for themselves.
It has great potential as an EA to trade multiple currency pairs with smaller price targets on shorter time frames. It would be great if someone could code this as an EA.
Try it manually for a day or two, just change the length, and you will see the huge potential of this indicator, then we can all go to Steve and request to create an EA based on the VQ indicator
Please find in the attachment the indicator vq7 for the 1M and 5M charts and the indicator vq35 for the 15M chart.
Thanks.
===== Edit vq7 indicator setting changed from real time = true to real time = false ========
=================
After many hours of tweaking and testing. I've changed the default value for length from 5 to 7 to better capture the trend. The system can work in both turbulent and popular environments.
The TFs I used are 1M, 5M and 15M, with lengths of 7, 7 and 35 respectively.
If you don't have much time for day trading, you can change the length to 35 and use it on the 15M chart. The values I found came after hours of manual testing. The only difference from the standard VQ indicator that has been around for a long time is the change in length.
You can use EA MPTM's Jump Stop feature in conjunction with indicators crafted by Steve Hopwood, or use standard Stop Loss and Take Profit.
With a small TP of 1M TF and a length of 7, the effectiveness of the trading system on EURUSD is almost 90%. If you lose a transaction, you can linearly increase the lot size for the next transaction. This sounds like a martingale, but it rarely goes beyond 3-4 lots before taking profit is hit. Just test it manually for a few days and you'll know the results speak for themselves.
It has great potential as an EA to trade multiple currency pairs with smaller price targets on shorter time frames. It would be great if someone could code this as an EA.
Try it manually for a day or two, just change the length, and you will see the huge potential of this indicator, then we can all go to Steve and request to create an EA based on the VQ indicator
Please find in the attachment the indicator vq7 for the 1M and 5M charts and the indicator vq35 for the 15M chart.
Thanks.
===== Edit vq7 indicator setting changed from real time = true to real time = false ========
=================
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