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Yen Trader | Foreign exchange EA download-MT4/MT5 resources-MetaTrader 5 resources

author EAcpu | 4 reads | 0 comments |
***Updated July 25, 2016***
*** Started by post #528 Yen Trader Evolves into Cross Trader
*** System philosophy applies to all crosses, not just Yen crosses

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Yen Trader


Currency pair: XXXJPY, where XXX is one of the major currencies (except the US dollar, which will be used as the reference currency).
Time range: H1, H4, D1

simple method

  1. If XXXUSD goes up and USDJPY goes up --> buy XXXJPY. Exit when XXXUSD falls or USDJPY falls.
  2. If XXXUSD falls and USDJPY falls --> Sell XXXJPY. Exit when XXXUSD rises or USDJPY rises.
  3. If USDXXX rises and USDJPY falls --> Sell XXXJPY. Exit when USDXXX falls or USDJPY rises.
  4. If USDXXX falls and USDJPY rises --> buy XXXJPY. Exit when USDXXX rises or USDJPY falls.

One way to define UP and DOWN on the H1 timeframe (as an example):

  1. If the current price is higher than the price 24 hours ago, the currency pair is UP. Increase at least x points. where x is H1 ATR(24).
  2. If the current price is lower than the price 24 hours ago, the currency pair is falling. Reduce one minute by x points. where x is H1 ATR(24).

A similar approach can be applied to H4 and D1, so for H4 we can compare the current price to a week ago, and for D1 we can compare the current price to a month ago.

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