Reversal of Vegas! (Reverse Vegas!) | Forex indicator download- MT4/MT5 resources- MetaTrader 5 resources
I made this system as a joke over a year ago when I realized that everything the "real" Vegas system suggested suggested the opposite was happening! I thought I'd share it with you.
Start by uploading the attached Vegas currency indicator. It has been modified to operate as a 55 SMA for tunnels. The number of small fibers is 21, 34 and 55.
You can run it anywhere from 15 minutes to 4 hours, but I think 1 hour works best. You can use it on other majors, but I tend to use it on Euros, where you have to change the Fibonacci numbers in the indicator so that the envelope "fits" the typical deviation.
Now, when the market rises above the center line of the tunnel and crosses the first Fibonacci, we sell a lot. When we enter the second fib, we sell two lots. When we enter the third fib, we sell three lots. Now we hope and pray that it gets back to our profitable tunnel.
Of course, sometimes the market trends too, so that's how I approach it. If the price exceeds the last Fib by about 15/20 pips, we close all short positions as hard stops, then reverse and open 3 long positions. Now the tunnel price becomes a stop loss. Yes, it's painful, but sometimes it's a valid breakout that can lead to gains of over 200 points. Other times, it creates additional losses because the market simply stops hunting with no way of knowing what will happen next.
The opposite is true for buying during range-bound periods. We buy 1 lot at each Fibonacci below the tunnel, then close, reverse and sell the breakout 15/20 pips below the bottom Fibonacci, otherwise taking full profit when price returns to the tunnel.
There are two amazing things about this system that have caused pain and suffering to Old Vegas over the years. This requires no dials, no indicators, no thinking, no intuition...nothing. Regardless, it doesn't suffer from tunneling in the same way as tunneling is used for TP during range swings and hard stops, or for TP when trending. For practical purposes, especially around news time, you need to add previous static orders on the fib because sometimes the spike can go up 2 or 3 fibs quickly and you won't have time to place the order unless the order is already set. Often the price returns just as quickly, resulting in very quick profits. It's simple, don't assume anything, just follow the rules. This system can handle both types of markets and does both very well. When we take profits within the range, and 5 or 6 times a year when the market trends hundreds of points non-stop, you don't miss those moves either, so it's not really a joke system at all, but a system that really works. No doubt you'll find your own rules for this system, but I wouldn't make it too complicated or you'll break it
Start by uploading the attached Vegas currency indicator. It has been modified to operate as a 55 SMA for tunnels. The number of small fibers is 21, 34 and 55.
You can run it anywhere from 15 minutes to 4 hours, but I think 1 hour works best. You can use it on other majors, but I tend to use it on Euros, where you have to change the Fibonacci numbers in the indicator so that the envelope "fits" the typical deviation.
Now, when the market rises above the center line of the tunnel and crosses the first Fibonacci, we sell a lot. When we enter the second fib, we sell two lots. When we enter the third fib, we sell three lots. Now we hope and pray that it gets back to our profitable tunnel.
Of course, sometimes the market trends too, so that's how I approach it. If the price exceeds the last Fib by about 15/20 pips, we close all short positions as hard stops, then reverse and open 3 long positions. Now the tunnel price becomes a stop loss. Yes, it's painful, but sometimes it's a valid breakout that can lead to gains of over 200 points. Other times, it creates additional losses because the market simply stops hunting with no way of knowing what will happen next.
The opposite is true for buying during range-bound periods. We buy 1 lot at each Fibonacci below the tunnel, then close, reverse and sell the breakout 15/20 pips below the bottom Fibonacci, otherwise taking full profit when price returns to the tunnel.
There are two amazing things about this system that have caused pain and suffering to Old Vegas over the years. This requires no dials, no indicators, no thinking, no intuition...nothing. Regardless, it doesn't suffer from tunneling in the same way as tunneling is used for TP during range swings and hard stops, or for TP when trending. For practical purposes, especially around news time, you need to add previous static orders on the fib because sometimes the spike can go up 2 or 3 fibs quickly and you won't have time to place the order unless the order is already set. Often the price returns just as quickly, resulting in very quick profits. It's simple, don't assume anything, just follow the rules. This system can handle both types of markets and does both very well. When we take profits within the range, and 5 or 6 times a year when the market trends hundreds of points non-stop, you don't miss those moves either, so it's not really a joke system at all, but a system that really works. No doubt you'll find your own rules for this system, but I wouldn't make it too complicated or you'll break it
Attachment to original post (1)
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •