Catching The Pimp's Trend - MT4/MT5 Resources
Trading is hard work. Don't let anyone tell you any different. There is no free lunch in the world! ! ...requires a lot of screen time and a lot of studying (understanding the basics). I think any trader needs three things:
· Trading plan
· Adhere to the discipline of the program
· Holy Grail>>>>Fund Management
Learning money management can be a very expensive course. I could tell you about my trading background, how brutal it was, and how I found myself making the same mistakes... Most people who have been trading for over two years have similar stories, so I'll cut to the chase. First of all, I don't think any profitable, long-lasting trading system can be based on charts on one time frame, unless you are considering H4 charts and above. I started this post to share something I learned a while ago, then forgot about…and then learned again…
This setup uses a lot of MA, CCI and MACD (my personal favorite).
It uses H4 and H1 charts. Yes, it's not that simple, but it's not that complicated either. We need these different graphs to confirm. Signals are removed from the H4 and H1 charts, and entries are removed from the H1 chart.
I didn't come up with this strategy; I just made a cocktail for two. Thanks to Zak Llyod for establishing this school of pimps, and thanks to Capito for establishing CICR. I recommend that you need a broker Lite Forex that has currency index charts. Their demo account will provide you with enough access to the charts you need.
Currency pairs: GBPJPY, EURJPY, USDJPY, EURUSD and GBPUSD
H4 chart indicators: MACD, heiken ashi and frasma indicators.
H1 diagram
80EMA, 50SMA, 20EMA, 5EMA, CCI (21), CCI (5), CCI (84), NB MACD Indicators.
Step 1. Check for MACD crossover on H4 chart, for example GBP/USD. If you see a crossover to the upside, check the GBP Index for a corresponding MACD crossover to the upside, as well as a bullish heiken ashi candle. Candles that close above the frasma line are good, but optional.
Step 2. If we have a "potential" buy signal in H4, we will switch to the H1 chart. CCI 5, 21 and 84 should be above the zero line, the hourly candles are closing above all MAs and the NB MACD is above the zero line. This gives us a buy signal.
I recommend letting the trade run for at least 12 hours to let the signal "prove" itself. This setting is quite reliable. Of course, we may receive some false signals, which is the whole idea behind checking a currency index to determine its weaknesses or strengths.
quit:
Reverse Signal MACD H4 Crossover Signal Opposite Trader’s Discretion
Wow! ! ...it feels like a lot... I wish the screenshots were more explanatory.
Stop loss should be approximately 20 - 30 pips below/above the recent swing low/high.
This is a solid strategy, but I wouldn't risk more than 5% of the bank.
· Trading plan
· Adhere to the discipline of the program
· Holy Grail>>>>Fund Management
Learning money management can be a very expensive course. I could tell you about my trading background, how brutal it was, and how I found myself making the same mistakes... Most people who have been trading for over two years have similar stories, so I'll cut to the chase. First of all, I don't think any profitable, long-lasting trading system can be based on charts on one time frame, unless you are considering H4 charts and above. I started this post to share something I learned a while ago, then forgot about…and then learned again…
This setup uses a lot of MA, CCI and MACD (my personal favorite).
It uses H4 and H1 charts. Yes, it's not that simple, but it's not that complicated either. We need these different graphs to confirm. Signals are removed from the H4 and H1 charts, and entries are removed from the H1 chart.
I didn't come up with this strategy; I just made a cocktail for two. Thanks to Zak Llyod for establishing this school of pimps, and thanks to Capito for establishing CICR. I recommend that you need a broker Lite Forex that has currency index charts. Their demo account will provide you with enough access to the charts you need.
Currency pairs: GBPJPY, EURJPY, USDJPY, EURUSD and GBPUSD
H4 chart indicators: MACD, heiken ashi and frasma indicators.
H1 diagram
80EMA, 50SMA, 20EMA, 5EMA, CCI (21), CCI (5), CCI (84), NB MACD Indicators.
Step 1. Check for MACD crossover on H4 chart, for example GBP/USD. If you see a crossover to the upside, check the GBP Index for a corresponding MACD crossover to the upside, as well as a bullish heiken ashi candle. Candles that close above the frasma line are good, but optional.
Step 2. If we have a "potential" buy signal in H4, we will switch to the H1 chart. CCI 5, 21 and 84 should be above the zero line, the hourly candles are closing above all MAs and the NB MACD is above the zero line. This gives us a buy signal.
I recommend letting the trade run for at least 12 hours to let the signal "prove" itself. This setting is quite reliable. Of course, we may receive some false signals, which is the whole idea behind checking a currency index to determine its weaknesses or strengths.
quit:
Reverse Signal MACD H4 Crossover Signal Opposite Trader’s Discretion
Wow! ! ...it feels like a lot... I wish the screenshots were more explanatory.
Stop loss should be approximately 20 - 30 pips below/above the recent swing low/high.
This is a solid strategy, but I wouldn't risk more than 5% of the bank.
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