Fish Net System Version 2 (Fish Net System Version 2) - MT4/MT5 resources

Fishnet system version 2.

This is a long-term trading system. You only need to spend 0 to 5 minutes a day, depending on the market conditions. Only trade GBP/USD and EUR/USD.

rule:

1. Open your daily chart and look back at the past three months, we select 70 bars. Find the highest price hPrice and the lowest price lPrice.
2. Therefore the market is between hPrice and lPrice. Price range=h price-l price.
3. Divide PriceRange + 300 points into 10 equal levels: TenthRange=(PriceRange +300)/10. Then we will have 11 price levels, from top to bottom, l1, l2, l3, l4, l5, l6, l7, l8, l9, l10, l11.
4. At each price level, we place pending buy and sell orders. Depending on market conditions, this may be a stop loss order or a limit order. Our base plot is plot 1. The size factors for buy orders are as follows: from top to bottom 1,1,1,3,3,3,6,6,6,9,9. For sell orders, just reverse 9,9,6,6,6,3,3,3,1,1,1. Or choose any factors you want, but in increasing order above.
5. No stop loss.
6. For buy orders above level 6 (including level 6), use 100 points or the larger value in TenthRange. If you open multiple buy orders, the take profit target is the average price + 100 pips. Average price takes into account lot size. For buy orders below level 6, the level 6 price is the take profit target.
7. For sell orders below level 6 (including level 6), use the larger value of 100 pips or the tenth value. If you open multiple sell orders, the take profit target is the average price - 100 pips. For sell orders above level 6, the level 6 price is the take profit target.
8. If the market exceeds level1 or level11 after the daily close, all pending orders will be deleted. Place a new pending order according to the above rules and adjust your take profit using the new level price of the existing open order (if any).
9. Every time an order is closed, refill it with a pending order at the same price level. You will always have 22 open and pending orders.
10. There are always retracements, especially when the market goes from level 6 to level 1 or level 11 or higher. Therefore, choose your base lot size wisely and make sure you have enough margin to withstand large drawdowns.

Only constructive comments are welcome, no discussion of indicators will be accepted.

http://widgets.myfxbook.com/widgets/640592/large.jpg

http://www.myfxbook.com/members/xlit...alprime/640592

If you find this system useful, please send me your credentials.

An excellent EA made by RolfW.

http://www.forexfactory.com/showthre...17#post6875417

EA is still in the development stage. Check frequently for the latest updates.

Updated EA

http://www.forexfactory.com/showthre...03#post6919003