Hi,
I have been looking for the Holy Graal myself and found all sorts of strategies so far. One of them looks very close to what Turbo has just posted. Here is what I think about it:
- the thick line is 34 EMA. The colours of the thick line looks like it gives information very close to the Xb4ind indicator. The use of an HMA 30,2 can be a good approximation.
- the thin line is 21,3 HMA - Hull moving average (or something very close to it). The change of colours can also be given by a 8,20,9 MACD settings (or close to it).
- Sochastic is 5,3,3
I would take a chance of suggesting an alternate system that would give almost the same entry signals:
- 34 EMA
- MACD 8,20,9
- Stochastic 5,3,3
- HMA 30,2
Enter signals:
- Enter long when a candle closes above 34 EMA.
- Watch for stochastic for overbought situations. Pesonally, I would use a 14,3,3 setting. Reversal should happen when the fast moving line crosses the level 80 downwards.
- MACD cross should occure shortly after or at the same time. That would be an exit signal.
- Enter short when a candle closes below 34 EMA.
- Watch for stochastic for oversold situations. Pesonally, I would use a 14,3,3 setting. Reversal should happen when the fast moving line crosses the level 20 upwards.
- MACD cross should occure shortly after or at the same time. That would be an exit signal.
HMA 30,2 can be used to figure out the colours of the thick line, but I think it is not obligatory. I think the system Turbotrader 24 gave us is probably better because it is all set with proper colours that are easy to follow, but if someone doesn't have the Metatrader platform can consider my thoughts about the strategy.
Regards,
Chamane