There were couple of guidelines for me while i was searching for best combination that will not require best combination indicator forex signal monitoring like many other manual trading systems but that is not fully automated like an most of EA`s. I am looking forward for your suggestions for improvement, or anyone brave who can create EA based on this strategy by combining this indicators. Thankyou,for your share,i will demo over the coming weeks,do you trade live,and are you trading only the EURUSD,using this method,as always the problems seem to be when to exit,and when to let the trade run.
ADX maybe might be another exit,any thoughts. What kind of results have you been getting? I did try to apply the template to 1M, then changed the SSL_fast_sbar to 5M, I found out that once 5 minutes was finished, the previous 5 bars in 1M changed color? SSL does not repaint the past once the signal is confirmed, but it will repaint the previous 5 bars if you are watching the 1 min chart with 5 min time frame SSL settings when the signal is confirmed. Nonlag MA is for that purpose. In my system,on 15 min chart SSL on 4h timeframe will repaint last 16 bars !
But that doesn’t need to worry you! You will avoid trading at this period as you would not have any valid signals! 22nd of Nov there was an change in SSL color. SSL was green at that moment. 16 bars but if you were following the rules you were safe as you were out trading at that moment! By following the rules you will NEVER be in or enter the trade while the SSL color change appear! SSL color change, count 16 bars and see that acording the rules you wouldn’t have any postion open at that moment!
Both are profitable but i feel more safe with EA for exits . JPY but NonlagMA would require some adjustments. USD with offered settings, but you can play and try to adjust them to other pairs. If you succeed in your forward testing with other pairs i would like to hear from you then.
Good system thus far,Darkonix how long have you traded live using this system and what results have you been getting? Hi blutkehlchen, thank you for your comments. Thank you very much for share your system. The goal is to pick the best indicators set. The challenge is to combine indicators in a smart way. This means that indicators should deliver different type of information about the market and confirm each other rather than duplicate signals. Forex traders call it “signal confirmation”, it is in reality could be the same type of data, and should be called “duplication”, rather than “confirmation”.
If you are randomly choosing indicators for technical analysis, chances are you’ll pick some with similar studies. First of all traders should know what type of indicator they use. Traders should avoid using too many indicators from the same category. There is also a simple method of identifying similar indicators.
By setting up chosen indicators on a chart, you will be able to basically see a similar pattern of indicators behavior. If they rise and fall in almost similar intervals, they are most likely identical in the type of data they provide. Note that Momentum indicator, RSI and Ultimate Oscillator: all behave in a distinctive similar pattern. For quality signals you would need to choose only one of them and exclude others.