Trend Bands System | Forex indicator download- MT4/MT5 resources
Hello everyone.
I want to share a system with you to get your feedback and possibly spread the green points.
I’m not going to tell you the story of my life and how it all happened. However, I am interested in sharing this system and letting people test drive this system and give it an honest "kick in the can", especially during the Frankfurt/London trading hours, during which I am sleeping. I also work the New York session full time from 9am to 6pm (not as a trader, unfortunately). Therefore, my screen time is limited and I can't see many settings. For future reference, you'll notice that the times on my chart are EST (Eastern Standard Time), and any times/hours I mention will be EST since that is my time zone (also known as the New York time zone).
The rules of threading are very simple; we are all adults and we should all do this. Please ask as many questions as you feel necessary and post your feedback, discussions, and comments with clearly labeled diagrams so we can learn from each other. This would be a great opportunity for those more experienced traders to provide some assistance to the less experienced traders. I'll do my best to answer any questions, but if you feel an answer would help you, you're more than welcome to do so. As mentioned above, I work full time and I have a family and need some sleep, so please bear with me as my response to your question may not be as quick as you'd like.
Okay, now that I’ve got all of that out of my system, let’s get onto the trading system itself…
Tools required:
1- MT4 platform with 5 minute or 15 minute charts
2- Indicators: some for setup, some for triggering trades, some for confirmations.
3- It always helps to be familiar with price action, candlesticks, pivot points, support/resistance, trend lines and channels.
Trade setup indicators:
Both EMA(50) and EMA(100) apply to candle close prices.
This is what determines "trends." We will only look for a buy trigger if EMA(50) is above EMA(100). If EMA(50) is below EMA(100) we will look for a sell trigger.
Trade trigger indicators:
BBands Stop Loss(8,2,0.2,1,1,1000, true) is applied to the chart in blue and red colors. If BBStop is blue, it means long; if BBStop is red, it means short. However, we consider BBStop turning red and below EMA(50) and EMA(100) as a sell trigger. Additionally, the price has broken below the candlestick line where the BBStop “big red dot” appears. According to BBStop, this big red dot is the beginning of a downtrend. This big BBStop point will generate an alert on your platform, so it's a great way to let you know we may be establishing a trend soon. Just do the opposite of the above and buy.
Transaction confirmation indicators:
These are TrendLord and 4TF-HAS used to confirm your transactions. Once the setup and trigger indicators are all lined up for you to trade, take a final look at the confirmation indicators to make sure they agree with your decision. 4TF-HAS and Trendlord must be red for selling and green for buying. A word of warning about these indicators is that when your chart becomes stale (not updating while the screen saver starts or otherwise), you may need to refresh the chart by switching to a different timeframe and back to the desired timeframe on the chart to refresh the indicator.
That's the basic system in a nutshell. I'm sure there will be a lot of details that need to be ironed out, such as take profit targets, stop loss locations, re-entering trades, etc. I usually like to use the last swing high/low (or big point) as my stop loss, then set my take profit targets to 1:1 on the 1/2 level and 1:2 on the second 1/2 level, and use a jump stop on the second 1/2 level. I'm sure there are many ways to manage trading, which can be discussed in posts between followers, as each trader's comfort level and risk level is different from other traders. I'll give general guidelines, but then again, nothing here is set in stone.
Additional indicators:
AFST Exact Entry is a pivot point calculator that places daily pivot points on a chart. If you want to use these as possible turning points or take profit/stop loss targets, you can use this indicator at your own discretion (with default settings).
Trading hours:
I like to see this system trade from the open in Frankfurt to the close in London. Avoid the dead hours of 2pm to 7pm Eastern Time. The Asian session tends to be quite volatile and slow, but sometimes you can get some nice explosive moves if you're willing to watch.
News events:
I generally try to avoid trading around news releases. Or, if I already have a trade, I either close the position or tighten my stop before the news comes out.
Example:
The best way to describe this system is to show a diagram example. Here are some examples from recent charts
Indicators and templates
Attached below. Please don't ask me how to use them because I already gave you the template
I want to thank you for your attention and taking the time to read what I have to write. Please feel free to post questions, suggestions, and be kind enough to post charts showing setups and real trades (only on demo accounts for now, of course)
If you make any transactions. When posting a chart, please indicate the time frame and currency pair you are talking about so we can all follow along.
Please don't misunderstand me here because I'm not being arrogant or rude. I implore you not to ask me how long I have been trading this trade, how profitable it is, and whether you will be successful. Every trader is different and every trader can make or break a system. You need to test it out for yourself, only you can decide if this system is something you think you can trade successfully... Good luck everyone.
I want to share a system with you to get your feedback and possibly spread the green points.
I’m not going to tell you the story of my life and how it all happened. However, I am interested in sharing this system and letting people test drive this system and give it an honest "kick in the can", especially during the Frankfurt/London trading hours, during which I am sleeping. I also work the New York session full time from 9am to 6pm (not as a trader, unfortunately). Therefore, my screen time is limited and I can't see many settings. For future reference, you'll notice that the times on my chart are EST (Eastern Standard Time), and any times/hours I mention will be EST since that is my time zone (also known as the New York time zone).
The rules of threading are very simple; we are all adults and we should all do this. Please ask as many questions as you feel necessary and post your feedback, discussions, and comments with clearly labeled diagrams so we can learn from each other. This would be a great opportunity for those more experienced traders to provide some assistance to the less experienced traders. I'll do my best to answer any questions, but if you feel an answer would help you, you're more than welcome to do so. As mentioned above, I work full time and I have a family and need some sleep, so please bear with me as my response to your question may not be as quick as you'd like.
Okay, now that I’ve got all of that out of my system, let’s get onto the trading system itself…
Tools required:
1- MT4 platform with 5 minute or 15 minute charts
2- Indicators: some for setup, some for triggering trades, some for confirmations.
3- It always helps to be familiar with price action, candlesticks, pivot points, support/resistance, trend lines and channels.
Trade setup indicators:
Both EMA(50) and EMA(100) apply to candle close prices.
This is what determines "trends." We will only look for a buy trigger if EMA(50) is above EMA(100). If EMA(50) is below EMA(100) we will look for a sell trigger.
Trade trigger indicators:
BBands Stop Loss(8,2,0.2,1,1,1000, true) is applied to the chart in blue and red colors. If BBStop is blue, it means long; if BBStop is red, it means short. However, we consider BBStop turning red and below EMA(50) and EMA(100) as a sell trigger. Additionally, the price has broken below the candlestick line where the BBStop “big red dot” appears. According to BBStop, this big red dot is the beginning of a downtrend. This big BBStop point will generate an alert on your platform, so it's a great way to let you know we may be establishing a trend soon. Just do the opposite of the above and buy.
Transaction confirmation indicators:
These are TrendLord and 4TF-HAS used to confirm your transactions. Once the setup and trigger indicators are all lined up for you to trade, take a final look at the confirmation indicators to make sure they agree with your decision. 4TF-HAS and Trendlord must be red for selling and green for buying. A word of warning about these indicators is that when your chart becomes stale (not updating while the screen saver starts or otherwise), you may need to refresh the chart by switching to a different timeframe and back to the desired timeframe on the chart to refresh the indicator.
That's the basic system in a nutshell. I'm sure there will be a lot of details that need to be ironed out, such as take profit targets, stop loss locations, re-entering trades, etc. I usually like to use the last swing high/low (or big point) as my stop loss, then set my take profit targets to 1:1 on the 1/2 level and 1:2 on the second 1/2 level, and use a jump stop on the second 1/2 level. I'm sure there are many ways to manage trading, which can be discussed in posts between followers, as each trader's comfort level and risk level is different from other traders. I'll give general guidelines, but then again, nothing here is set in stone.
Additional indicators:
AFST Exact Entry is a pivot point calculator that places daily pivot points on a chart. If you want to use these as possible turning points or take profit/stop loss targets, you can use this indicator at your own discretion (with default settings).
Trading hours:
I like to see this system trade from the open in Frankfurt to the close in London. Avoid the dead hours of 2pm to 7pm Eastern Time. The Asian session tends to be quite volatile and slow, but sometimes you can get some nice explosive moves if you're willing to watch.
News events:
I generally try to avoid trading around news releases. Or, if I already have a trade, I either close the position or tighten my stop before the news comes out.
Example:
The best way to describe this system is to show a diagram example. Here are some examples from recent charts
Indicators and templates
Attached below. Please don't ask me how to use them because I already gave you the template
I want to thank you for your attention and taking the time to read what I have to write. Please feel free to post questions, suggestions, and be kind enough to post charts showing setups and real trades (only on demo accounts for now, of course)
If you make any transactions. When posting a chart, please indicate the time frame and currency pair you are talking about so we can all follow along.
Please don't misunderstand me here because I'm not being arrogant or rude. I implore you not to ask me how long I have been trading this trade, how profitable it is, and whether you will be successful. Every trader is different and every trader can make or break a system. You need to test it out for yourself, only you can decide if this system is something you think you can trade successfully... Good luck everyone.
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