Auslanco-GBP/JPY Strength Indicator stra (Auslanco-GBP/JPY Strength Indicator stra)
Hi everyone...I'm trying to create much needed policy rules for my system.
Lesson 1 First I will introduce you to the two main indicators that I use in my trading. It is safe to trade using only these two indicators after confirming the trade according to the rules of the strategy.
a.Strength index
b. TFT line
For VT Trader users:
S Strength Indicator = Quantitative Qualitative Estimation Indicator (Smoothing Period 5) Please go to the indicator properties and add a red line on the value 50.
Go to Color/Style on the same indicator properties and make LevelRSIfast white (invisible)....
Thin Film Transistor = Gann HiLo Activator (Cycles/Value 10)
Free charting package VT trader-freewww.vtsystems.com
Time range 4 hours, 1 hour
Enter the pre-transaction checklist:
buy signal
A). 4-hour chart: First confirm that the 4-hour strength indicator has turned bullish (can be below or above the 50 line). Note that the 4-hour strength indicator does not have to cross the 50 line.
B). 4 hour chart: Make sure the candle has formed above the TFT line.
Now, once you confirm the above two characteristics, you know that the short to medium term trend is bullish.
entry:
C). 1 hour chart: You only need to enter the strength indicator point to cross the 50 line upwards.
If you see the 1 hour SI well above the 50 line when you receive a 4 hour cross confirmation, it means a major pullback is coming. Please wait for 1 hour before the SI turns bearish and bullish again before entering the trade.
d). 1 hour chart: Make sure a candle has formed above the TFT line.
Always enter at the beginning of the 1 hour confirmation bar (second after the TFT cross bar)
Lesson 1 First I will introduce you to the two main indicators that I use in my trading. It is safe to trade using only these two indicators after confirming the trade according to the rules of the strategy.
a.Strength index
b. TFT line
For VT Trader users:
S Strength Indicator = Quantitative Qualitative Estimation Indicator (Smoothing Period 5) Please go to the indicator properties and add a red line on the value 50.
Go to Color/Style on the same indicator properties and make LevelRSIfast white (invisible)....
Thin Film Transistor = Gann HiLo Activator (Cycles/Value 10)
Free charting package VT trader-freewww.vtsystems.com
Time range 4 hours, 1 hour
Enter the pre-transaction checklist:
buy signal
A). 4-hour chart: First confirm that the 4-hour strength indicator has turned bullish (can be below or above the 50 line). Note that the 4-hour strength indicator does not have to cross the 50 line.
B). 4 hour chart: Make sure the candle has formed above the TFT line.
Now, once you confirm the above two characteristics, you know that the short to medium term trend is bullish.
entry:
C). 1 hour chart: You only need to enter the strength indicator point to cross the 50 line upwards.
If you see the 1 hour SI well above the 50 line when you receive a 4 hour cross confirmation, it means a major pullback is coming. Please wait for 1 hour before the SI turns bearish and bullish again before entering the trade.
d). 1 hour chart: Make sure a candle has formed above the TFT line.
Always enter at the beginning of the 1 hour confirmation bar (second after the TFT cross bar)
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