M5 Hybrid system | Foreign exchange EA download-MT4/MT5 resources
Dear Trader
After I have experienced a few trading systems here and there and noted that none of them can make me any profit, I've decided to build my own style. Of course, the problem isn't the systems themselves - most of them are great and actually work. The question is trader : me, you, etc. You see, I, like many others, jumped from system to system in search of the Holy Grail (or still do). I'm sure you've heard before that I'm never satisfied with results, try to improve them, change them. Obviously, I failed. However, I have incorporated some ideas from other systems into this M5 hybrid. Hence the name.
I'm just not happy with using other people's systems without "improving" them.
If we think so, this system may not be for you. But I do hope you'll find something useful in it and maybe improve your system .
Now, before I start, please don’t ask me about success rates, how much money I made, Trading Explorer and other childish questions. If it works for me, it doesn't mean it will work for you . I can only describe what I do and how I do it. Nothing new here, not reinventing the wheel, just writing how I played it Also, I hope you understand I just want to share my approach. I don't have as much time to answer questions or analyze your charts/trades like other traders. sorry. I mean, feel free to subscribe if you want, but don't expect much activity from my end <br> I would also like to thank the others who have posted their trading systems here. As I write, I researched many of these and implemented many useful ideas in my M5 Hybrid.
Summarize
I trade M5, most currency pairs, but focus on those with low spreads. You can try this on a longer time frame if you wish. I'm trading with the trend mostly. My price target is 200 points and I trade 0.01 points. I don't use a SL (you can try to use one if you want), instead I use equity sentry with a 5% risk - the EA will monitor all open trades and close them if equity reaches a negative 5%. You need at least a $100 account to use this feature, and you should not trade on multiple charts - explained later.
My charts <br> This is what I see.
Indicators and EA
As I downloaded them from the www or Ff. Please do not ask me about updated versions, mq4, draw/redraw discussions etc. Feel free to use anything else you can find that works better. Other are MT4 included, like Stochastic, MA
Stochastic is set to 14, 3, 7, Close, Simple and will give me an entry signal. Basically I sell when overbought and buy when oversold.
A simple SMA 200 close, just to confirm the trend, might help me stop my entry/exit points better.
SMA 5 2 Simple Typical Price - Helps me find entry points sometimes, but you can skip it if you want to load the chart.
With this (attached to any chart), I set the equity loss at 5%. Useful if you are using a limited martingale exit strategy. Otherwise, just set a SL. It's an EA by the way, so go to the Experts folder. All the others are indicators.
RSI custom is set to 14, 50,50. I usually have to sell when it's red and vice versa, but I personally don't use it that often. It would give me more confidence if it gave the same signal as stochastic. Otherwise, it just looks nice on the chart
AutoPivot draws pivot lines and can be used for TP, spot reversal points, etc.
This will show the remaining candle time and spread. Just to make sure I enter at the right time after the candle closes at a spread I can afford.
I think the stoch cross-level alert is what I found here with some modifications. Using the same settings as the Stochastic indicator above, an arrow will be drawn on the chart when the buy/sell time approaches. It has the option to display only arrows and signals for buy or sell or both. So if the trend is up, you may want to set TrendDown to false - so you don't get sell alerts. Note that this is not a signal per se, it just lets you know when the main Stochastic crosses overbought/sold territory (below 20, above 80). When this happens, stay alert.
Used to display the breakeven line on the current trading chart and profit, + or - in the lower left corner of the chart. If this stresses you out, you can change the settings in NB i-Breakeven.mq4 indi so that it does not show P&L. But leaving a break-even line on the chart is useful.
This is only used to confirm the main stochastic indicator and has slightly different settings 14,3,3. I honestly don't know why I used this, probably because it looks nice haha. I just changed invert_strength to true so the color is red when overbought and vice versa.
aTR Stop can help you set up SL. Again, I don't have SL, but if you do, this might help.
template.
After I have experienced a few trading systems here and there and noted that none of them can make me any profit, I've decided to build my own style. Of course, the problem isn't the systems themselves - most of them are great and actually work. The question is trader : me, you, etc. You see, I, like many others, jumped from system to system in search of the Holy Grail (or still do). I'm sure you've heard before that I'm never satisfied with results, try to improve them, change them. Obviously, I failed. However, I have incorporated some ideas from other systems into this M5 hybrid. Hence the name.
I'm just not happy with using other people's systems without "improving" them.
If we think so, this system may not be for you. But I do hope you'll find something useful in it and maybe improve your system .
Now, before I start, please don’t ask me about success rates, how much money I made, Trading Explorer and other childish questions. If it works for me, it doesn't mean it will work for you . I can only describe what I do and how I do it. Nothing new here, not reinventing the wheel, just writing how I played it Also, I hope you understand I just want to share my approach. I don't have as much time to answer questions or analyze your charts/trades like other traders. sorry. I mean, feel free to subscribe if you want, but don't expect much activity from my end <br> I would also like to thank the others who have posted their trading systems here. As I write, I researched many of these and implemented many useful ideas in my M5 Hybrid.
Summarize
I trade M5, most currency pairs, but focus on those with low spreads. You can try this on a longer time frame if you wish. I'm trading with the trend mostly. My price target is 200 points and I trade 0.01 points. I don't use a SL (you can try to use one if you want), instead I use equity sentry with a 5% risk - the EA will monitor all open trades and close them if equity reaches a negative 5%. You need at least a $100 account to use this feature, and you should not trade on multiple charts - explained later.
My charts <br> This is what I see.
Indicators and EA
As I downloaded them from the www or Ff. Please do not ask me about updated versions, mq4, draw/redraw discussions etc. Feel free to use anything else you can find that works better. Other are MT4 included, like Stochastic, MA
Stochastic is set to 14, 3, 7, Close, Simple and will give me an entry signal. Basically I sell when overbought and buy when oversold.
A simple SMA 200 close, just to confirm the trend, might help me stop my entry/exit points better.
SMA 5 2 Simple Typical Price - Helps me find entry points sometimes, but you can skip it if you want to load the chart.
With this (attached to any chart), I set the equity loss at 5%. Useful if you are using a limited martingale exit strategy. Otherwise, just set a SL. It's an EA by the way, so go to the Experts folder. All the others are indicators.
RSI custom is set to 14, 50,50. I usually have to sell when it's red and vice versa, but I personally don't use it that often. It would give me more confidence if it gave the same signal as stochastic. Otherwise, it just looks nice on the chart
AutoPivot draws pivot lines and can be used for TP, spot reversal points, etc.
This will show the remaining candle time and spread. Just to make sure I enter at the right time after the candle closes at a spread I can afford.
I think the stoch cross-level alert is what I found here with some modifications. Using the same settings as the Stochastic indicator above, an arrow will be drawn on the chart when the buy/sell time approaches. It has the option to display only arrows and signals for buy or sell or both. So if the trend is up, you may want to set TrendDown to false - so you don't get sell alerts. Note that this is not a signal per se, it just lets you know when the main Stochastic crosses overbought/sold territory (below 20, above 80). When this happens, stay alert.
Used to display the breakeven line on the current trading chart and profit, + or - in the lower left corner of the chart. If this stresses you out, you can change the settings in NB i-Breakeven.mq4 indi so that it does not show P&L. But leaving a break-even line on the chart is useful.
This is only used to confirm the main stochastic indicator and has slightly different settings 14,3,3. I honestly don't know why I used this, probably because it looks nice haha. I just changed invert_strength to true so the color is red when overbought and vice versa.
aTR Stop can help you set up SL. Again, I don't have SL, but if you do, this might help.
template.
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