Simple trend-following system - MT4/MT5 resources
Not long ago I showed a friend how to create a simple multi-timeframe trend following system. He seems to like it because 6 months later he is still trading with it. So I thought I'd quickly post it here for those traders who are "lost" or want to try something simple
An indicator (CCI Custom Candlestick). Set "Overbought" to 55 and "Oversold" to -45
Go to Daily and wait for the candle to close in red or green
If it is green, go to the 4-hour chart and look for buying opportunities. If it is red, go to the 4-hour chart and look for selling opportunities.
Used for any pair.
...it's so simple it might have been published because simple is best
An indicator (CCI Custom Candlestick). Set "Overbought" to 55 and "Oversold" to -45
Go to Daily and wait for the candle to close in red or green
If it is green, go to the 4-hour chart and look for buying opportunities. If it is red, go to the 4-hour chart and look for selling opportunities.
Used for any pair.
...it's so simple it might have been published because simple is best
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