Daily System With BBands + MACD + Curren

This is not a 1000 point a day system, nor is it a system of making millions of points in a few months. This is a trading system that I have been working on for about 2 months while making some improvements and fine-tuning to the system and the EA you need

Don't expect all trades made using this system to be profitable, as we are bound to have some bad trades. However, the system should be overall profitable and produce more winning trades than losing trades

Don’t expect 100 transactions per day

This system can be used as a basket system or depending on your trading

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Detailed information about how the system works and how it reached its current state

Some boring background on how this system came to be:

This system mainly relies on BBands, which is one of my favorite indicators that I have been using in all my trading strategies for a while. But of course, like many other indicators, it gives more false signals than I'd like to see and performs very poorly in range-bound markets. I started using bigger TFs to confirm my signals (eg: only trade if BBands gives the same signal on 15M - 30M - H1 chart)

I tried many combinations and TFs but still missing some kind of filter, so after trying many BB indicators I found MACD to be the best indicator I have tried.

I'm always amazed by currency strength meters as well, I think I've probably tried every version of them available and while using currency strength meters I noticed that each currency pair is not in its own world but all pairs work together in some way. (For example, if GBPUSD is in an uptrend, I will see that EURUSD, NZDUSD, AUDUSD, etc. are also in an uptrend, while USDCHF, USDJPY, etc. are in a downtrend) This makes me understand that the strength of a certain currency (most of the time affected by major impact news) determines the overall trend of the currency pair

To me, it only makes sense to combine the two into one strategy because I'm a big fan of both and have seen them both work well

How the system works:



Three filters work together to eliminate as many bad transactions as possible

1) A fast BB + a slow BB gives the current overall direction and trend of the currency pair

2) MACD confirms trend and direction and avoids trading during reversals or divergences

3) FXM Currency Strength Indicator shows the best time to trade when the strength of a currency pair is in the same direction as BB and MACD. It is also useful for re-entering strong long-term trends after pullbacks and reversals.

This is a statement meant to show how the strategy has performed over the past few weeks, but before you look at it, here are a few things you need to know:

1- I have been trying many combinations between the settings of the three indicators I use, what you see below are all of them, not just one of them

2- This statement only goes back a few weeks because by then I no longer needed a stable version of EA to work with them and not just fix the bugs and bugs I encountered



Here are the results of some combinations I found worked well (again going back a few weeks ago)

PS: AIO refers to the sum of all time periods

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1) The purpose of creating this post is to use this as an opportunity to listen to feedback and suggestions from other members and to do our best to implement these ideas to improve the system and eliminate as many bad transactions as possible

2) I also love coding and want to challenge myself to add more and more options and ideas to the indicators and EAs I make

3) The EA and indis I made (only they are not from other authors) are valid for 2 weeks, and I plan to continuously update new versions with longer validity as long as there are interested and active members to contribute. The expiration date is not to sell it later in any way, it's a promise . That being said, I understand that a lot of people may not like this fact, and depending on how the thread is received, I may delete it entirely.

4) Why do I add the expiration date at the beginning?
Because I have created test versions of similar EAs and indicators before and helped other members make personal custom EAs based on their needs, once they received the good stuff I never heard a word from them again. Most people don't even bother to report any bugs or anything that I'm sure exist.

Let's repeat it again: the EAs and Indis I created have expiration dates, I explained above why. However, I plan to update them regularly and extend their validity, and maybe even remove them

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VIP 1: You must install the script (LoadHistory-1 script) before attaching any indicator or EA or template, otherwise you may get divide-by-zero errors and error signals

VIP 2:

1) MACD (already included in your terminal)

2) BBands (I don't know the author but it's awesome no matter who you are)

3) FXM Diff (Shoutout: FXM Diff has created one of the best (if not the best) currency strength meters)

4) A simple (and ugly) indicator I made to show you the current state of the MACD and BBands for the 5M and 15M combination (hopefully one day I can make it more intuitive for ROFL).

5) An indicator to analyze your trading performance, I made it to help show you the best times when you should place trades (I plan to add more features to it)

6) ATR (in points) (don’t know the author, but this is a simple but very useful metric)

7) EA I made to open and control trades based on various settings

8) Various templates with EA and indis settings

PS 1: Your indicators and EA must appear on 15 million charts

PS 2: The first signals you receive after installing the indicator may be wrong, so wait at least 15-30m before enabling them for trading

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- Magic:
Choose a unique number for the EA to open and process your trades. (It must be different from any other magic number of any other EA on the same terminal)

- Repeat pairing:
How many times do you want the same signal for the same currency pair to be repeated in the FXM Diff indicator before the EA opens an order (only set it greater than 1 if you have multiple instances of FXM Diff with different options)
Example:

Attached picture (click to enlarge)

AUDNZD repeated 2 times
EURNZD repeated 2 times
GBPCHF repeats 1 time

So if you choose repeated = 3, the EA will not take any of these signals, but if you choose repeated = 2, it will take AUDNZD and EURNZD but not GBP CHF. If you select repeated = 1 it will get all three signals

- Start time and stop time:
They must be in GMT (in the EA it tells you the current GMT time and your current broker's time to give you the time in the east) and must also be in the following format: 700 or 1700 or 1530. If you set it to 15:30 or 7:00 or 7:00 AM, it won't work.
Also note that the EA does not open trades during the opening hours and closes all trades during the stopping hours. Instead, the EA will check signals starting from the start time to the stop time

- Options for each transaction:
Here you can control the TP, SL and TS of each trade that the EA will open

- TP/SL mode:
If you select: Hard TP SL - this will only place SL and TP and TS based on the number of points you decide
If you select: ATR Factor - it will check the daily ATR for period 14 and then factor in TP, SL, TS.
Example: If you choose a TP factor of 0.25, it means your TP = 0.25 * Daily ATR for period 14 of the currency pair

- Enable shopping basket mode:
PS: All basket settings are in dollars not pips
If set to true, the EA will treat all open trades as a basket trade and close all trades when the TP and SL levels of your choice are reached
If set to false, the EA will treat each opened trade as its own and use the TP and SL settings you assigned it from above

- Enable basket coefficients (calculated in dollars instead of points):
If set to true, your basket TP and SL will be calculated based on the number of open trades. For example, if you select TP coefficient = 2 and have 10 open trades, then your basket TP = 2*10 = 20$
If set to false, your basket TP, SL, TS will be taken from the options you entered above

- Enable Basket Locked Profit:
Locking in profits here does not mean closing part of the trade or part of the lot in your trade, but adjusting your stop loss to a certain level.
Example (if you set the locked profit to 10 and the locked profit factor to 0.5)
Once your total profit reaches $10 or higher, the EA will adjust your stop loss to $10 * 0.5 = $5
This means that no matter what happens next, your stop loss will remain at $5 until your total profit drops to $5 or until the second locked profit level is reached
PS: If you enable Locked Profit, it will automatically disable Basket Trailing Stop (not Trade Trailing Stop)

- Disable news trading:
If set to true, the EA will not make any trades on the currency pair you select from the following options
PS 1: The time must be GMT
PS 2: All the results I posted above were obtained when set to false, which means the EA will trade regardless of whether high-impact news was published or not

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All included templates have shown good results over the past 2-3 weeks, but I personally use Template 15 as I prefer to use multiple FXM Diff settings together

Update log: September 11, 2017

EA v3.2: Click here
EA v3.3 + Detailed Trade Report 3.2 + New template with basket mode enabled and higher TP/SL: Click here

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10-11-2017 : Click here

**General updates:
- EA + indicator expiry has been extended to 9 - December 2017 (expiry dates will be updated at least once a week as promised)
- EA preset options are now included in the new rar file. Before attaching a new EA version you must open the current EA and copy the magic number and then paste it to the new EA for which you loaded the EA settings
- Includes 3 EA preset options:
If you use any template from 4 to 14, use EA settings 4_To_14
If you use template 15, please use the EA settings of TPL_15 If you use template 17, please use the EA settings of TPL_17
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**EA v3.3:
- Now there is no internal condition in the EA login regarding the minimum FXM value it will accept, it will now include all the values ​​you see from the FXM Divergence indicator you choose to use in the template
- Broker time and GMT time will now show accurate readings even when no trades are running

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** Trade Report v3.3
- Added option to show trading reports for each currency instead of just the time period

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The next indicator I'm looking into is rushmag's suggestion of showing the maximum number of pips gained and lost per pair to get a better idea of ​​where we need to place our take profit and stop loss levels

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November - November Part 2:

I noticed a bug in Trading Reports 3.3, if you delete the indicator, some rows will still remain there, not deleted, so here is the fixed version

Click here

Tuesday 14th to November: Click here

- Added button to EA v 3.4
- New indicator showing today's maximum and minimum pips for each pair

Update 2 Tuesday 14th November: Click here

- Points indicator should now show correct max/min pip values
- Trade reporting indicator does not disable currency reporting if you choose

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