PM Forex Strategy | Foreign Exchange EA Download- MT4/MT5 Resources
Introducing Afternoon Forex Strategy :
P - price action
M-non-LagMA
entry:
Figure 1.
http://img441.imageshack.us/img441/7005/forex.jpg
Buy:
1. When candle 1 closes, NonLagMa will turn green.
2. Wait for confirmation - if candle 2 closes and MA is still green.
3. Open buy on candle 3
sell:
1. When the candle closes, NonLagMa will turn red.
2. Wait for confirmation - if candle b closes and MA is still red.
3. Open a sell position c at the opening of the candle.
quit:
Figure 2. Example of a winning trade on our exit
http://img822.imageshack.us/img822/3898/forexj.jpg
Two ways to exit the trade: (We opened the buy trade on candle 3), we exit the trade regardless of the positive/negative points.
1. In a buy trade, when we see 3 consecutive candles with lower highs, we exit at the open of the next candle. In a sell trade, when we see 3 candles in a row with higher lows, we exit at the next candle's open.
OR,
2. In a buy trade, when the change of NonLagMA to red is confirmed, we exit the trade. In a sell trade, when NonLagMA turns green and is confirmed, we exit the trade.
- Whichever comes first. In this case, we should exit the trade "early" instead of waiting for NonLagMA to change color.
Figure 3. Example of a losing trade on our exit.
http://img31.imageshack.us/img31/7005/forex.jpg
When we start the trade at the open of the 3rd candle, the next candle closes in the opposite direction to our position and the NonLagMA changes color, so we exit the trade with a loss at the open of the next candle.
Bulk (updated June 25, 2010):
Lot size will depend on equity and the minimum lot size allowed by the broker.
We will use 1:1000 integrity to conduct transactions. This means that every time we open a new trade, 0.001 lots of equity are used.
For example, if our equity is $1,000, we will use $1 per pip. As our equity grows, so will our lot size. Round to the nearest dollar.
Let's say our broker allows a minimum lot size of 0.01 (10 cents per pip) and our equity is $128, so we only open a position of 0.01 lots.
If our equity reaches $151, we will open a position of 0.02 lots because we round the lot size.
A manual test of EURUSD on the m30 time frame produced around 2000 pips so far between May 1st and June 18th. The M15 time frame is around 1800 points. I'm hoping someone can make an EA so we can test other currency pairs and other timeframes together.
Here’s the best part, a $10,000 demo account grew to $96,000 using a “variable” 0.1% of equity as lot size!
Updated June 26, 2010 :
1. PMforex_NonLagMA_v1 by EllisEdi (updated - http://www.forexfactory.com/showpost...8&postcount=71)
2. MTF-NonLagMAv7.1_4TF_Bar and NonLagMAv7.1 must be downloaded together (MTF has not been tested and some errors have been reported)
3. Candle_Time displays the time remaining before the candle closes
4. #MarketPrice displays the current price in nice, large font. Since I don't know how to use most of the indicators that come with it, I usually turn off the other settings - http://www.forexfactory.com/showpost...2&postcount=90
Updated June 27, 2010 :
1. Removed MTF-NonLagMAv7.1 and NonLagMAv7.1, although still available here, as posted by Vince-AC - http://www.forexfactory.com/showpost...6&postcount=51
2. Adaptive Laguerre Filter indicator upload, from LouG’s ALF thread - http://www.forexfactory.com/showthread.php?t=239353
Updated July 3, 2010 :
1. The following indicators CANDLE TIME and MARKET PRICE have been deleted, but can be accessed via http://www.forexfactory.com/showpost...&postcount=407. Also added is the trendline indicator uploaded by Syahmi.
2. Added MP (multi-period) and MTF (multi-time frame) NLMA indicators, uploaded by gspe - http://www.forexfactory.com/showpost.php?p=3848753
3. As a reminder, other NLMA versions can be found here, uploaded by Vince-AC - http://www.forexfactory.com/showpost.php?p=3828616. NLMAdot indicator has also been added to the list - http://www.forexfactory.com/showpost.php?p=3845355
4. The Adaptive Laguerre Filter indicator has been removed, but is discussed more fully in LouG's ALF thread - http://www.forexfactory.com/showthread.php?t=239353
5. New PMforex template has been uploaded for your perusal.
http://img97.imageshack.us/img97/638/forexg.jpg
set up:
1. EU (can also be other pairs)
2. m15 (can also be other TF)
3. MP-NLMA - 7,21,84,336
4. MTF-NLMA - m15, m30, h1, h4
It is recommended that, to avoid overloading the CPU, you can remove one of the MP or MTF indicators.
entry:
1. We will open a position if MP-NLMA or MTF-NLMA has 4 green bars (buy) or 4 blue bars (sell).
TP:
1. Usually 10-15 points. But it all depends on the trader's experience. Another option is to change the color of any 1 or 2 MP/MTF bars.
Exit/Stop Loss:
1. Still use Figure 2 above.
2. Working on: Using semafor and Heiken Ashi as an exit strategy, as used by Fokusnik - http://www.forexfactory.com/showpost...&postcount=393
Note: If EllisEdi has some free time and he reads this, I hope he can help us come up with new EAs. This existing EA developed by him can be found here - http://www.forexfactory.com/showpost.php?p=3835215
Updated August 19, 2010 :
1. Added the beautiful THV Coral indicator as explained by NiceGuy from this article - http://www.forexfactory.com/showpost...&postcount=554 (Indicator published by maxwell-eqtn - http://www.forexfactory.com/showpost...&postcount=621)
Updated September 4, 2010 :
1. Removed 4BARS-MP-NLMA 1.01.mq4 because NLMA is more useful and if put together, they will consume a lot of cpu resources. But MP-NLMA indi can still be found here - http://www.forexfactory.com/showpost.php?p=3848753
2. New version of #Market Price (candleTime indicator not required), modified/published by ducke - http://www.forexfactory.com/showpost...&postcount=686 - #MarketPrice.mq4
3. A nice, sweet, short summary, like NiceGuy posted here:
http://www.forexfactory.com/showpost...&postcount=632
http://www.forexfactory.com/showpost...&postcount=654
http://www.forexfactory.com/showpost...&postcount=701
4. EllisEdi's new MTF-NLMAv2, but not yet "tested" in a real environment - http://www.forexfactory.com/showpost...&postcount=691 - 4BARS-MTF-NLMA 2.mq4
Updated entry rules:
http://i54.tinypic.com/35mm9vp.jpg
1. After the arrow appears, place a buy/sell trade on the next candle in the direction of the arrow (as specified by the MTF-NLMA indicator).
2. Filter:
- PA candles must be small
- PA must be close to TH4 coral
Look at the examples, the ones with green lines are a good starting point. Points with red lines are bad entry points.
Ignore the green/red vertical lines, they indicate London opening/closing times; as posted by jimsforex - http://www.forexfactory.com/showpost...&postcount=711
.
P - price action
M-non-LagMA
entry:
Figure 1.
http://img441.imageshack.us/img441/7005/forex.jpg
Buy:
1. When candle 1 closes, NonLagMa will turn green.
2. Wait for confirmation - if candle 2 closes and MA is still green.
3. Open buy on candle 3
sell:
1. When the candle closes, NonLagMa will turn red.
2. Wait for confirmation - if candle b closes and MA is still red.
3. Open a sell position c at the opening of the candle.
quit:
Figure 2. Example of a winning trade on our exit
http://img822.imageshack.us/img822/3898/forexj.jpg
Two ways to exit the trade: (We opened the buy trade on candle 3), we exit the trade regardless of the positive/negative points.
1. In a buy trade, when we see 3 consecutive candles with lower highs, we exit at the open of the next candle. In a sell trade, when we see 3 candles in a row with higher lows, we exit at the next candle's open.
OR,
2. In a buy trade, when the change of NonLagMA to red is confirmed, we exit the trade. In a sell trade, when NonLagMA turns green and is confirmed, we exit the trade.
- Whichever comes first. In this case, we should exit the trade "early" instead of waiting for NonLagMA to change color.
Figure 3. Example of a losing trade on our exit.
http://img31.imageshack.us/img31/7005/forex.jpg
When we start the trade at the open of the 3rd candle, the next candle closes in the opposite direction to our position and the NonLagMA changes color, so we exit the trade with a loss at the open of the next candle.
Bulk (updated June 25, 2010):
Lot size will depend on equity and the minimum lot size allowed by the broker.
We will use 1:1000 integrity to conduct transactions. This means that every time we open a new trade, 0.001 lots of equity are used.
For example, if our equity is $1,000, we will use $1 per pip. As our equity grows, so will our lot size. Round to the nearest dollar.
Let's say our broker allows a minimum lot size of 0.01 (10 cents per pip) and our equity is $128, so we only open a position of 0.01 lots.
If our equity reaches $151, we will open a position of 0.02 lots because we round the lot size.
A manual test of EURUSD on the m30 time frame produced around 2000 pips so far between May 1st and June 18th. The M15 time frame is around 1800 points. I'm hoping someone can make an EA so we can test other currency pairs and other timeframes together.
Here’s the best part, a $10,000 demo account grew to $96,000 using a “variable” 0.1% of equity as lot size!
Updated June 26, 2010 :
1. PMforex_NonLagMA_v1 by EllisEdi (updated - http://www.forexfactory.com/showpost...8&postcount=71)
2. MTF-NonLagMAv7.1_4TF_Bar and NonLagMAv7.1 must be downloaded together (MTF has not been tested and some errors have been reported)
3. Candle_Time displays the time remaining before the candle closes
4. #MarketPrice displays the current price in nice, large font. Since I don't know how to use most of the indicators that come with it, I usually turn off the other settings - http://www.forexfactory.com/showpost...2&postcount=90
Updated June 27, 2010 :
1. Removed MTF-NonLagMAv7.1 and NonLagMAv7.1, although still available here, as posted by Vince-AC - http://www.forexfactory.com/showpost...6&postcount=51
2. Adaptive Laguerre Filter indicator upload, from LouG’s ALF thread - http://www.forexfactory.com/showthread.php?t=239353
Updated July 3, 2010 :
1. The following indicators CANDLE TIME and MARKET PRICE have been deleted, but can be accessed via http://www.forexfactory.com/showpost...&postcount=407. Also added is the trendline indicator uploaded by Syahmi.
2. Added MP (multi-period) and MTF (multi-time frame) NLMA indicators, uploaded by gspe - http://www.forexfactory.com/showpost.php?p=3848753
3. As a reminder, other NLMA versions can be found here, uploaded by Vince-AC - http://www.forexfactory.com/showpost.php?p=3828616. NLMAdot indicator has also been added to the list - http://www.forexfactory.com/showpost.php?p=3845355
4. The Adaptive Laguerre Filter indicator has been removed, but is discussed more fully in LouG's ALF thread - http://www.forexfactory.com/showthread.php?t=239353
5. New PMforex template has been uploaded for your perusal.
http://img97.imageshack.us/img97/638/forexg.jpg
set up:
1. EU (can also be other pairs)
2. m15 (can also be other TF)
3. MP-NLMA - 7,21,84,336
4. MTF-NLMA - m15, m30, h1, h4
It is recommended that, to avoid overloading the CPU, you can remove one of the MP or MTF indicators.
entry:
1. We will open a position if MP-NLMA or MTF-NLMA has 4 green bars (buy) or 4 blue bars (sell).
TP:
1. Usually 10-15 points. But it all depends on the trader's experience. Another option is to change the color of any 1 or 2 MP/MTF bars.
Exit/Stop Loss:
1. Still use Figure 2 above.
2. Working on: Using semafor and Heiken Ashi as an exit strategy, as used by Fokusnik - http://www.forexfactory.com/showpost...&postcount=393
Note: If EllisEdi has some free time and he reads this, I hope he can help us come up with new EAs. This existing EA developed by him can be found here - http://www.forexfactory.com/showpost.php?p=3835215
Updated August 19, 2010 :
1. Added the beautiful THV Coral indicator as explained by NiceGuy from this article - http://www.forexfactory.com/showpost...&postcount=554 (Indicator published by maxwell-eqtn - http://www.forexfactory.com/showpost...&postcount=621)
Updated September 4, 2010 :
1. Removed 4BARS-MP-NLMA 1.01.mq4 because NLMA is more useful and if put together, they will consume a lot of cpu resources. But MP-NLMA indi can still be found here - http://www.forexfactory.com/showpost.php?p=3848753
2. New version of #Market Price (candleTime indicator not required), modified/published by ducke - http://www.forexfactory.com/showpost...&postcount=686 - #MarketPrice.mq4
3. A nice, sweet, short summary, like NiceGuy posted here:
http://www.forexfactory.com/showpost...&postcount=632
http://www.forexfactory.com/showpost...&postcount=654
http://www.forexfactory.com/showpost...&postcount=701
4. EllisEdi's new MTF-NLMAv2, but not yet "tested" in a real environment - http://www.forexfactory.com/showpost...&postcount=691 - 4BARS-MTF-NLMA 2.mq4
Updated entry rules:
http://i54.tinypic.com/35mm9vp.jpg
1. After the arrow appears, place a buy/sell trade on the next candle in the direction of the arrow (as specified by the MTF-NLMA indicator).
2. Filter:
- PA candles must be small
- PA must be close to TH4 coral
Look at the examples, the ones with green lines are a good starting point. Points with red lines are bad entry points.
Ignore the green/red vertical lines, they indicate London opening/closing times; as posted by jimsforex - http://www.forexfactory.com/showpost...&postcount=711
.
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