forex day trading system

[oilfxpro]

Expert Advisor for this free forex day trading system
Hello,

Can anyone create an expert advisor for this free system:

[GBPforex]

Well, unfortunately, u did not open America, what ever time you spended on this PDF file, you just wasted your time. Most of your indicators are lagging.

Keep thinking and watch around, maybe someone has already similar system.

[oilfxpro]

Originally Posted by GBPforex

Well, unfortunately, u did not open America, what ever time you spended on this PDF file, you just wasted your time. Most of your indicators are lagging.

Keep thinking and watch around, maybe someone has already similar system.

GBPForex

They are lagging but they are well put together and williams percentage is probably one of the best free indicators around.

For Domino William’s %R is the King of forex indicators.I myself am impressed with this free indicator , although I use my own custom indicators.I must agree it is the best of the free indicators along with stochastics.

Domino has put a nice system together and the lagging aspect of parabollic is used correctly.The RSI is used correctly for this system and RSI is a fast divergence indicator

One has yet to see a better system posted freely,main reason why commercial posters will attack this system

OILFXPRO

[GBPforex]

I would really love, to someone for sure, test manualy for the month or two, and give us a great results. In theory, all great, but when you start working with any systems, u getting false alarms, or you are get wipped around so many times, that you only paying commisions and not making any money. Every pair, is trades differently, can we use same strategy for all? not sure. It is so difficult to trade forex in short term, probably non of us, can trade forex in long term. Probably, the most reliable system, will be make it less loosing trades and more profitable.

My self still looking for that great system. and will check this one, as soon as market will be open.

Putting few indicators together, does not mean to create trading system.

and by the way, on William's R indicator, you are giving to much credit. Same as moving avergage, lagging and not clear indicator. Just checked 1 hour gbp/chf and it's looks like has to be buttom of the trend, but price was still moving lower and lower.
I would use word "king" of the indicators. I would say, they all slaves., not king or queen. ha ha ha

U should not believe in indicator too much. Other factors involved in fx trading.

I would like to see demo results of your system. Try manual trading, see what happen and possible u can post results. By the way, time frame you are using, u need to adjus your indicators period, u can not use same periods, it will give you a problem.

El Cid, i know you from other forums, i would not think, that you are in to indicators so much. trading Oil , not the same trading fx. Short Oil if USD will strenght

Do you make money? can you show the results? even your system is free, most of us like to see action and results. If you make few bucks we happy for you. I am more concern, that there are so many ideas, but most of them not working.

fixed your signature link, before com, use period, not comma.

[oilfxpro]

Hi

A lot of people do not know how to correctly use indicators.The williams % indicator measures the strength of a trend.THESE INDICATORS CAN BE USED MORE EFFECTIVELY AS PREDICTIVE INDICATORS

Oscillators: Williams’ Percent Range (R)

Oscillators: Williams’ Percent Range (R)

The values of the Williams’ Percent Range (%R) oscillator lie between 0 and 100.
If the oscillator is between 80% to 100%, it denotes an oversold condition, whereas values in the range from 0% to 20% signify an overbought condition.
The formula to calculate Williams’ Percent Range oscillator is similar to the one used to calculate the Stochastic Oscillator:
%R = (MAX (HIGH (i - n)) - CLOSE (i)) / (MAX (HIGH (i - n)) - MIN (LOW (i - n))) * 100
Where:

• CLOSE (i) - the current close price;
• MAX (HIGH (i - n)) - the highest top over the previous n periods;
• MIN (LOW (i - n)) - the lowest bottom over the previous n periods.

Williams’ Percent Range (%R) oscillator signals:

• bullish divergence / bearish convergence – the main signals that point to the weakness of the current trend;
• in a flat market an exit from the overbought / oversold area is a signal to sell / buy.

To add Williams’ Percent Range index in MetaTrader 4 use the "Insert -> Indicators -> Oscillators -> Williams’ Percent Range, %R" menu sequence.
Williams’ Percent Range index:

Oscillators: Relative Strength Index (RSI)

Relative Strength Index (RSI) was developed by J. Welles Wilder in 1978. Nowadays, it is considered to be the most popular oscillator.
Relative Strength Index (RSI) formula:
RSI = 100 - (100 / (1 + U / D))
Where:

• U - average value of the positive price changes over a period;
• D - average value of the negative price changes over a period.

The most frequently used time periods are 8 and 14.
RSI indicator is considered overbought if it is above the 70 level, and oversold if it is below the 30 level.
Relative Strength Index (RSI) signals:

• If the indicator is below the 50 line, then the market is considered to be bearish;
• If above the 50 level - bullish;
• If the indicator is around the 50 line it signals that the market is flat;
• Bullish divergence / bearish convergence – the main signal of the trend weakness;
• Under flat conditions exit from the overbought (oversold) territory is a signal to sell (buy);
• Different types of the trend analysis can be used to analyze Relative Strength Index (RSI): trend lines, support / resistance levels, chart reversal and continuation patterns.

oilfxpro

Originally Posted by GBPforex

and by the way, on William's R indicator, you are giving to much credit. Same as moving avergage, lagging and not clear indicator. Just checked 1 hour gbp/chf and it's looks like has to be buttom of the trend, but price was still moving lower and lower.
I would use word "king" of the indicators. I would say, they all slaves., not king or queen. ha ha ha

U should not believe in indicator too much. Other factors involved in fx trading.

GBPforex

Other factors are involved like confirmation of reversal by candles ...as well as the indicators used

Learn to Trade the RSI Indicator

YouTube - Stock Market - Williams %R

YouTube - 22.How to Trade the Relative Strength Index (RSI) Like a Pro

oilfxpro

Originally Posted by GBPforex

Do you make money? can you show the results? even your system is free, most of us like to see action and results. If you make few bucks we happy for you. I am more concern, that there are so many ideas, but most of them not working.

GBPForex

I use the cable breakout system and the oilbreakout system for live trading.

Both these systems have been under forward tests for last 6 months.Both the systems passed the forward tests.They are both trading as per past performance.Both systems are on expert advisors.

Next two to three months will see the addition to the live accounts ....with Euro/usd and cable advanced breakout system and the new OILFXPRO E A under development at present.Most systems will take upto one year for development and testing .....before going on live accounts

Regards

OILFXPRO

[neuronT55]

hello ,

i m newbie, can anyone teach me on hedging system for gbpusd and composite. I m very glad if you can attach screenshots as well.

thanks

[DanFXM]

It is an interesting strategy but doesn't work, at least no as stated by the author.

I manually backtested the system for three months with a "best case scenario" aproach and the results where too unconsistent for all the pairs recommended. I checked the variables with this guy Domino (trading period, time frame, pairs, setup, etc) and start forward testing on Demo and guess what? The results where worst than the manual backtest.

When I start sending Charts and questions to "Domino" he never reply back again.

The idea of the RSI and K% working together it's ok, but is just an idea not a profitable system.

Best Regards

[oilfxpro]

Dan

What if the system only traded in the direction of the major trend or if it used wmas.

Maybe the system needs revamping

Thanks for your effort.

OILFXPRO