Pair: GBP/JPY (we may be able to add more pairs in the future)
Time Frame: M30
Indicators:
* 20 period RSI with the 50 level clearly defined
* 14 period ADX with the 25 level clearly defined
* Custom Trend with default settings
* Forex Off Trend with default settings
Download Template And Indikator:
Custom Trend.ex4
Multi purpose trade manager.mq4
ForexOffTrend_Alert.mq4
gbpjpy daily trend method.tpl
Download excel file GBPJPY Daily Trend.xls
We are only concerned with three bars. The bar that starts at 9:30 AM EST and ends at 10:00 AM EST, the bar that starts with 10:00 AM EST and ends at 10:30 AM EST, and the bar that starts at 10:30 AM EST and ends at 11:00 AM EST. On my MT4 with forex.com these bars are: 13:30, 14:00, and 14:30.
Buy Signal:
If the following parameters are “TRUE” at the close of any of the bars mentioned above we will BUY at the market price.
1) Custom Trend must be blue (teal)
2) RSI must be above 50. Any reading above 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Buy Signal:
1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
Sell Signal:
If the following parameters are “TRUE” at the close of any of the bars mentioned above we will SELL at the market price.
1) Custom Trend must be red.
2) RSI must be below 50. Any reading below 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Sell Signal:
1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
Time Frame: M30
Indicators:
* 20 period RSI with the 50 level clearly defined
* 14 period ADX with the 25 level clearly defined
* Custom Trend with default settings
* Forex Off Trend with default settings
Download Template And Indikator:
Custom Trend.ex4
Multi purpose trade manager.mq4
ForexOffTrend_Alert.mq4
gbpjpy daily trend method.tpl
Download excel file GBPJPY Daily Trend.xls
We are only concerned with three bars. The bar that starts at 9:30 AM EST and ends at 10:00 AM EST, the bar that starts with 10:00 AM EST and ends at 10:30 AM EST, and the bar that starts at 10:30 AM EST and ends at 11:00 AM EST. On my MT4 with forex.com these bars are: 13:30, 14:00, and 14:30.
Buy Signal:
If the following parameters are “TRUE” at the close of any of the bars mentioned above we will BUY at the market price.
1) Custom Trend must be blue (teal)
2) RSI must be above 50. Any reading above 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Buy Signal:
1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
Sell Signal:
If the following parameters are “TRUE” at the close of any of the bars mentioned above we will SELL at the market price.
1) Custom Trend must be red.
2) RSI must be below 50. Any reading below 50 is acceptable.
3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day.
Stop Loss = 100 pips (plus spread)
Break Even = Multi-purpose trade manager should move stop to break even at plus 100
Take Profit = 125 pips
Exit Sell Signal:
1) When Take Profit or Stop Loss is reached
2) If, on the following morning, you receive a signal in the opposite direction.
3) If you are stopped out at break even.
4) I will explain add-ons at a later point in time.
Please look at the screen shot(s).
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