Trend Capture System - Need help and modifications! (Trend Catching System - Help and Modific)
Hello fellow seniors and young people,
As the title says, I have a system (not developed by me) but I still think it can be one of the best and consistent systems because up to 80% of the time, this system gives accurate signals, that's why we call it a trend catching system.
But guys, I need your help, teamwork and their spirit to make it work and stay relevant!
Timeframe: 1 hour or more to avoid false signals and improve accuracy.
Preferred currency pairs: GBP/JPY, EUR/JPY or other trending pairs.
When to buy:
1. When the BBANDS indicator light turns blue
2. When the blue moving average crosses over and points upward. The two thick blue moving averages need to be some distance apart from each other and cannot stick together. This indicator indicates that there is upward momentum.
3. When the blue moving average is above the white channel
4. When the MACD histogram is above the zero line and above the red line.
When to sell:
1. When the BBANDS indicator light turns red
2. When the blue moving average crosses over and points downward. The two thick blue moving averages need to be some distance apart from each other and cannot stick together. This indicator indicates that there is downward momentum.
3. When the blue moving average is below the white channel
4. When the MACD histogram is below the zero line and below the red line.
The problem is here:
When we enter a trade, we will face risks, because trading means risk, so, in fact, we do not know where to set the take profit and stop loss, so the biggest problem in this system is that there is no exit rule! Sometimes, we can capture the highest movement, but sometimes, we fail with the highest negative movement.
Here's my story about the exit rules I tried and failed:
- I tried signaling, but the result was still a net loss.
- I tried using MACD with default settings, but still failed!
- I tried 10 PIPS TP and 50 PIPS stop loss, but due to the nature of the system it worked very rarely and otherwise broke even. I hope you understand what I mean.
My suggestion:
- We should try TS (Trailing Stop), I think this is the best solution, but my head doesn't know which settings are correct.
- We can try using the ZigZag indicator, but the problem is that the ZigZag repaints its signal.
Traders, I need your help with exit rules so that we can continue to make profits and consistency is what we all are looking for so if we have an exit strategy in place then believe me we can make the highest profits together.
(I have attached the template and BBANDS.MQ4, please use the template for accurate settings on the chart)
As the title says, I have a system (not developed by me) but I still think it can be one of the best and consistent systems because up to 80% of the time, this system gives accurate signals, that's why we call it a trend catching system.
But guys, I need your help, teamwork and their spirit to make it work and stay relevant!
Timeframe: 1 hour or more to avoid false signals and improve accuracy.
Preferred currency pairs: GBP/JPY, EUR/JPY or other trending pairs.
When to buy:
1. When the BBANDS indicator light turns blue
2. When the blue moving average crosses over and points upward. The two thick blue moving averages need to be some distance apart from each other and cannot stick together. This indicator indicates that there is upward momentum.
3. When the blue moving average is above the white channel
4. When the MACD histogram is above the zero line and above the red line.
When to sell:
1. When the BBANDS indicator light turns red
2. When the blue moving average crosses over and points downward. The two thick blue moving averages need to be some distance apart from each other and cannot stick together. This indicator indicates that there is downward momentum.
3. When the blue moving average is below the white channel
4. When the MACD histogram is below the zero line and below the red line.
The problem is here:
When we enter a trade, we will face risks, because trading means risk, so, in fact, we do not know where to set the take profit and stop loss, so the biggest problem in this system is that there is no exit rule! Sometimes, we can capture the highest movement, but sometimes, we fail with the highest negative movement.
Here's my story about the exit rules I tried and failed:
- I tried signaling, but the result was still a net loss.
- I tried using MACD with default settings, but still failed!
- I tried 10 PIPS TP and 50 PIPS stop loss, but due to the nature of the system it worked very rarely and otherwise broke even. I hope you understand what I mean.
My suggestion:
- We should try TS (Trailing Stop), I think this is the best solution, but my head doesn't know which settings are correct.
- We can try using the ZigZag indicator, but the problem is that the ZigZag repaints its signal.
Traders, I need your help with exit rules so that we can continue to make profits and consistency is what we all are looking for so if we have an exit strategy in place then believe me we can make the highest profits together.
(I have attached the template and BBANDS.MQ4, please use the template for accurate settings on the chart)
Attachment to original post (2)
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