Murrey Advisor by MoStAsHaR15 | Forex indicator download- MT4/MT5 resources

Murray Advisor V2.3 Mostaha R15 2010

Time frame : 4 hours
Pairs : EUR/USD, GBP/USD, USDJPY, USDCAD, AUD/USD, NZD/USD and EUR/GBP.

I developed this metric based on my observations. It is based on the principles of using the Murray Lines for support and resistance and the ADX for trend strength and direction.
The indicator will draw the Murray line. It will highlight the areas from -2/8P to 0/8 and 8/8 to +2/8P in red to indicate that these two areas follow additional rules. The rule is that only long positions are allowed when it is below 0/8, and only short positions are allowed when it is above 8/8.
This indicator automatically identifies current Murrie support and resistance and shows how many points are left to reach that level.

Buy tickets <br> This indicator looks for the following:

1. EMA(5,close) > EMA(6,open) is at least 5 points and the closing price of the last candle Close[1] is not more than 25 points higher than EMA(5,close) .
2. Current candle's open price (Open[0]) > at least 3 points of support.
3. Mainly ADX > 21 and increasing, while ADX(+) > ADX(-) at least 3 points.
4. The high of the current candle and the last candle (H[0,1]) < the resistance level by at least 10 points.
5. Price should be below 8/8 Murrey level

SELL ENTRY <br> This indicator looks for the following:

1. EMA(5,Close) < EMA(6,Open) is at least 5 points and the closing price of the last candle, Close[1], is not less than EMA(5,close) by more than 25 points .
2. Current candle's open price (Open[0]) > resistance level by at least 3 pips.
3. Mainly ADX > 21 and increasing, while ADX(-) > ADX(+) at least 3 points.
4. The low of the current candle and the last candle (L[0,1]) < resistance at least 10 pips.
5. Price should be above 0/8 Murrey level

Indicators show the status of each condition in real time. Once the conditions are met, the recommendation will be displayed as "Long" or "Short" while "Hold!" will be displayed if any of the conditions are not met. Once a signal is generated, the indicator sounds an alarm.

Once you enter a long position, then your TP = next resistance level (usually from 30 to 60 points based on Murray Span), SL = -30 points.

Results <br> My success rate so far is about 75%, and overall I'm making a lot of money based on manual trading on both a demo account and a real account. I have been working on this strategy since 2005 and it evolved from different indicators and timeframes until it appeared in this form in this version (v2.3) .

Murray Advisor EA V1.0
We have made the first version of the EA using this strategy. Highlights are as follows:

1. You must attach EA V1.0 and Murrey Advisor V2.3 to the same chart because the EA imports data through the chart.
2. As long as there are sufficient funds, the EA will trade a maximum of one position per pair.
3. The lot size is 0.1 and can be changed (external variable).
4. According to the strategy, Take Profit (TP) will be the next Murrie support/resistance.
5. Stop Loss (SL) will be -30 pips and can be changed (external variable).
6. Trailing Stop (TS) is 15 and can be turned off if set to 0 (external variable).
7. Open positions will be automatically closed in any of the following ways: (i) TP, (ii) SL, (iii) TS, (iv) if the closing price of the last candle [1] is 15 pips less than EMA(6,o), as the pair may reverse.
8. Murrey Advisor v1.0 currently only supports 4 brokers. Work is also underway to support 5-figure brokers.

appendix:
The attachment is the latest version v2.3. You need to choose the version that suits you based on your broker number 4 or 5. EA v1.0 currently only supports 4-digit brokers.

Here is a snapshot of the indicator showing a sell entry in EURUSD:

http://img214.imageshack.us/img214/5652/eurgbpsell.gif