Abo3oon Redux | Forex Indicator Download - MT4/MT5 Resources | MT4/MT5 Download
I started this thread to explore different uses for Abo3oon templates, which I've had on my platform for years but never really used in any significant way.
I try not to stray too far from the GBPUSD currency pair in button trading, but my curiosity always leads me to explore the potential of other currency pairs.
Before starting, I need to thank the creator of this indicator on FF (or at least its publisher). I can't for the life of me remember who it was, and I was enjoying the effects of bourbon and honey on a sunny Sunday in Sydney, so wasn't really in the mood to track down the author. If you know who it is please post their details here and they will get the thanks they deserve.
Other than that, I'll be searching later this week when I'm awake.
I think the modifications I've made do have a lot of potential, but other people's input is welcome as long as it's constructive.
Essentially, I watch the COG trend every day to tell me how to trade on a 1 hour basis.
Growth rules:
1. Daily COG up
2. 1 hour TF retracement to the lower Bollinger Bands and/or Donchian Channel (setting 55)
3. The COG indicator light starts to light up at 1 hour
S/L: Either below the swing low, or (and this may be important) below the 1-hour closing price bar of the swing low.
(Alternatively, SL could be when COG starts to fall again) and re-enter when COG starts to rise again.
T/P: Opposite Bollinger Bands or Donchian Channels (whichever comes first I guess). It may be decided to cancel 80% at this point and abandon the rest until the 1 hour COG resumes again. Who knows.
Short entry rules:
Contrary to the long entry rule.
I have attached an example of a long entry opportunity on the EG pair at the open next week.
* Daily focus rises.
* 1 hour retracement to lower BB and COG, now pointing upwards.
This is an experiment, I don't know what the result will be.
Let's see how she performs...
I try not to stray too far from the GBPUSD currency pair in button trading, but my curiosity always leads me to explore the potential of other currency pairs.
Before starting, I need to thank the creator of this indicator on FF (or at least its publisher). I can't for the life of me remember who it was, and I was enjoying the effects of bourbon and honey on a sunny Sunday in Sydney, so wasn't really in the mood to track down the author. If you know who it is please post their details here and they will get the thanks they deserve.
Other than that, I'll be searching later this week when I'm awake.
I think the modifications I've made do have a lot of potential, but other people's input is welcome as long as it's constructive.
Essentially, I watch the COG trend every day to tell me how to trade on a 1 hour basis.
Growth rules:
1. Daily COG up
2. 1 hour TF retracement to the lower Bollinger Bands and/or Donchian Channel (setting 55)
3. The COG indicator light starts to light up at 1 hour
S/L: Either below the swing low, or (and this may be important) below the 1-hour closing price bar of the swing low.
(Alternatively, SL could be when COG starts to fall again) and re-enter when COG starts to rise again.
T/P: Opposite Bollinger Bands or Donchian Channels (whichever comes first I guess). It may be decided to cancel 80% at this point and abandon the rest until the 1 hour COG resumes again. Who knows.
Short entry rules:
Contrary to the long entry rule.
I have attached an example of a long entry opportunity on the EG pair at the open next week.
* Daily focus rises.
* 1 hour retracement to lower BB and COG, now pointing upwards.
This is an experiment, I don't know what the result will be.
Let's see how she performs...
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