Pulling Pips with Strategy - MT4/MT5 Resources

Tightening point 1.1

This topic is used to discuss and develop mash-up strategies between the three strategies. These strategies are as follows.

Core: http://www.forexfactory.com/showthread.php?t=11854
Supplementary content: http://www.trading-naked.com/Woodie.htm
Additional confirmation: Price action and patterns. If you need this explained to you, please visit the whole school: http://www.babypips.com

Please be very familiar with the core before you start posting here. At its core is a strategy developed by Phillip for use on 5-minute intraday charts.

Additional content used in the Woodie CCI strategy will be explained here, but reading some of it will be helpful to you anyway, so read on. But realize this is Forex, not the market where Woody uses the CCI strategy. I have previously tried using CCI alone as specified by Woodie without success. I've always liked the tools it provides, but had trouble finding confirmation of signals until I tried the core system.

Additional confirmations should be self-explanatory.

Some background on my trading experience. I was trading full time and was unprofitable. Since I started trading I have never been profitable and only made a few really good trades. Every day after I trade and update my books (I'm still in the demo), I look at the trades I made that day and where I messed up. On most trades, I can still find something that I messed up on. Even the profitable ones.

That being the case, I have identified one of my major weaknesses. I don’t know when I can enter the market. Of course I used strategies with clearly defined entries, but they were not my style and were too slow. I like fast paced action otherwise I lose focus. A probably better idea would be to learn to read price action, but I feel like I can do that while trading a clear strategy. Also, I'm a big believer in systems theory: http://en.wikipedia.org/wiki/Systems_theory

By the way, the first thing to say is the first thing. Let's start setting up the chart.

Chart settings

I would list everything, but I have to meet a friend. So I only publish templates and indicators.

Version 1.1 <br> Removed - SMAAngle, no longer used (I haven't been able to figure out what it was showing me)
Added - Volumes_Per_Close, which displays volumes and colors bars based on whether their close is higher/lower/the same as the open.