Fractalsline | Forex indicator download - MT4/MT5 resources - MetaTrader 5 resources
Hello, this is the profit section I found on a website. This system consists of at least 20 indicators, haha. I stripped it down to this indicator only.
Time frame: 1hr, 4hr, daily
Currency: I haven't tested anything yet, so any currency is suitable for testing.
Buying Rule: Wait for price to close below the lower line, rather than waiting for price to close above the lower line. Enter at next bar open.
SL= Below the low when the line is breached. Use common sense. If sl is too large, use 2x Atr max or other value.
TP= This is optional, but I would use a value 5 points below the upper line.
Sell rule: Everything reverse from buy rules.
The chart I posted was for 1 hour and the take profit seemed too small, but I was too lazy to look at 4 hours so I made my own and posted it here.
Time frame: 1hr, 4hr, daily
Currency: I haven't tested anything yet, so any currency is suitable for testing.
Buying Rule: Wait for price to close below the lower line, rather than waiting for price to close above the lower line. Enter at next bar open.
SL= Below the low when the line is breached. Use common sense. If sl is too large, use 2x Atr max or other value.
TP= This is optional, but I would use a value 5 points below the upper line.
Sell rule: Everything reverse from buy rules.
The chart I posted was for 1 hour and the take profit seemed too small, but I was too lazy to look at 4 hours so I made my own and posted it here.
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