1 trade a day | Forex indicator download - MT4/MT5 resources
This is not what I had in mind, however, it intrigued me because I wanted an indicator for it, but the principle is sound
Using the Asian session highs and lows as an example, I will add an indicator that does this automatically.
As the next open market is London, we want to focus on GBP spot
I have set it to
pound pound pound jpy
Sterling CAD
pound pound try
We set up a buy position 10 pips above the high and a sell position 10 pips below the low
Once triggered we will remain unchanged until 1 of 3 criteria is met
Our stop loss has been hit our target has been reached and our stop loss or take profit has not been reached at the end of the day.
An example of 2 transactions is shown below
Some things to note
No indicators are used to evaluate trends OB OS etc This is 100% mechanical We only trade once per spot per day Can be used with EA to automatically draw the red horizontal line Set up your fib tool, after the number in properties use only 0.00,50%100% Add %$ after the number to get the price on the fib line If triggering longs, put 0.00 on the low and move the tool to get the 50% line on the high. A 100% line will give you TP, a 0.00 line will give you SL
very important
My life changes every day, sometimes I think I can day trade with the time I have, sometimes my personal situation changes and I can't use my computer regularly so I have had a quiet period recently
This is a minimum time entry system that does not require regular monitoring.
I don't have stats etc so please don't ask questions about this
I managed to only make 2 trades on the £6 spot available as that was all I had set up last week, given my time and the fact that I had only just started paying attention to this. It's a commercial product, it's not my idea, but I like the principle.
If people want to use different Fib levels or different stops for tP, feel free. Let's throw all the ideas into it, but I don't want confusing metrics.
Results from my 2 locations last week
GBP/USD +125+97+68+118-82 (+327)
GBP/AUD+143+4+116-145+114 ((+232)
Total profit + 559 points
I have included
High and low trades during Asian session my template
PS.. The screenshot in the upper right corner of Transaction 2 should say Exit instead of Enter....
Paulus
Using the Asian session highs and lows as an example, I will add an indicator that does this automatically.
As the next open market is London, we want to focus on GBP spot
I have set it to
pound pound pound jpy
Sterling CAD
pound pound try
We set up a buy position 10 pips above the high and a sell position 10 pips below the low
Once triggered we will remain unchanged until 1 of 3 criteria is met
Our stop loss has been hit our target has been reached and our stop loss or take profit has not been reached at the end of the day.
An example of 2 transactions is shown below
Some things to note
No indicators are used to evaluate trends OB OS etc This is 100% mechanical We only trade once per spot per day Can be used with EA to automatically draw the red horizontal line Set up your fib tool, after the number in properties use only 0.00,50%100% Add %$ after the number to get the price on the fib line If triggering longs, put 0.00 on the low and move the tool to get the 50% line on the high. A 100% line will give you TP, a 0.00 line will give you SL
very important
My life changes every day, sometimes I think I can day trade with the time I have, sometimes my personal situation changes and I can't use my computer regularly so I have had a quiet period recently
This is a minimum time entry system that does not require regular monitoring.
I don't have stats etc so please don't ask questions about this
I managed to only make 2 trades on the £6 spot available as that was all I had set up last week, given my time and the fact that I had only just started paying attention to this. It's a commercial product, it's not my idea, but I like the principle.
If people want to use different Fib levels or different stops for tP, feel free. Let's throw all the ideas into it, but I don't want confusing metrics.
Results from my 2 locations last week
GBP/USD +125+97+68+118-82 (+327)
GBP/AUD+143+4+116-145+114 ((+232)
Total profit + 559 points
I have included
High and low trades during Asian session my template
PS.. The screenshot in the upper right corner of Transaction 2 should say Exit instead of Enter....
Paulus
Attachment to original post (1)
📦 Summary of post attachments (42)
Below are all the files (42) shared in the reply.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •