Oritz 4hrs Strategy | Forex Indicator Download - MT4/MT5 Resources
Hello fellow traders,
First of all, let me thank Forex Factory for providing every trader with an excellent forum to share profitable trading strategies. I have a regular job so I mostly trade 4 hour charts and after a few years of trying I seem to have found some profitable strategies with fairly simple indicators.
However, I miss most good trade entry signals when I'm sleeping or doing my day job, and my emotions sometimes get in the way when I want to enter later. I need an EA for this simple strategy and I have attached the custom Bollinger Bands_stop_v2 indicator. Other indicators are the Commodity Channel Index (CCI) and the Relative Strength Index (RSI). Screenshots are also attached.
entry:
1. The main trigger point is when CC1 (40 periods, typical price) crosses zero upward/downward for buying/selling respectively.
2. Select the entries with RSI (20 period, typical price) higher than 54/lower than 46 for buying/selling respectively.
3. And (or) filter with an additional Bollinger Bands Stop (20 periods, 1.0 bias) and buy/sell when it turns blue/red respectively.
quit:
1. Use CCI's inverse signal (40 periods, typical price) and/or
2. RSI reversal (20 period, typical price) (RSI refers to exiting sell/buy when RSI reverses and crosses above/below 50 respectively) Please note that it does not use the 54/46 rule to exit, which is very important.
3. Bollinger Bands Stop Loss Blue and Red Reversals.
Note that triggers and filters take effect after the candle closes. Add money management like breakeven, trailing stops and, if possible, setting up a 3-level profit lock to maximize profit taking. Through such fund management, you can easily have a 1:3 rate of return.
In the attached screenshot you can see on the right side of the screenshot how the filter avoids false transactions. While this strategy is not the Holy Grail, it seems to work for me as I also manually adjust the take profit via weekly pivot points.
Please anyone with good programming knowledge please help me and other traders who may find this strategy useful.
Thank you in advance.
First of all, let me thank Forex Factory for providing every trader with an excellent forum to share profitable trading strategies. I have a regular job so I mostly trade 4 hour charts and after a few years of trying I seem to have found some profitable strategies with fairly simple indicators.
However, I miss most good trade entry signals when I'm sleeping or doing my day job, and my emotions sometimes get in the way when I want to enter later. I need an EA for this simple strategy and I have attached the custom Bollinger Bands_stop_v2 indicator. Other indicators are the Commodity Channel Index (CCI) and the Relative Strength Index (RSI). Screenshots are also attached.
entry:
1. The main trigger point is when CC1 (40 periods, typical price) crosses zero upward/downward for buying/selling respectively.
2. Select the entries with RSI (20 period, typical price) higher than 54/lower than 46 for buying/selling respectively.
3. And (or) filter with an additional Bollinger Bands Stop (20 periods, 1.0 bias) and buy/sell when it turns blue/red respectively.
quit:
1. Use CCI's inverse signal (40 periods, typical price) and/or
2. RSI reversal (20 period, typical price) (RSI refers to exiting sell/buy when RSI reverses and crosses above/below 50 respectively) Please note that it does not use the 54/46 rule to exit, which is very important.
3. Bollinger Bands Stop Loss Blue and Red Reversals.
Note that triggers and filters take effect after the candle closes. Add money management like breakeven, trailing stops and, if possible, setting up a 3-level profit lock to maximize profit taking. Through such fund management, you can easily have a 1:3 rate of return.
In the attached screenshot you can see on the right side of the screenshot how the filter avoids false transactions. While this strategy is not the Holy Grail, it seems to work for me as I also manually adjust the take profit via weekly pivot points.
Please anyone with good programming knowledge please help me and other traders who may find this strategy useful.
Thank you in advance.
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