Rather easy mechanical system with decent profit ration. It uses another system from FF that i found however that thread now seems to be dead. However i believe the system has potential if used correctly and you stick to the rules with absolutely no deviation.
However you can easily set your own rules depending on your type of trading style.
At first i will be showing just recent charts and trade set ups. I will then hope to show live trades or trades before they are active later on if the need arises. There is just 2 indicators which i will post later.
I will show you how i use the indicators however you are free to use them in anyway you wish. I use them with a 20 SMA filter only.
The first char i will show is the USD/CAD from last Friday. Not only a good day for the system but it always makes it very easy to show the method.
If you use both the indicators then there really is not much you need to know. Just wait for the arrow to appear showing the direction to take the trade and then decide to take it or filter it out to your preference.
You can use no filter and take all singles or filter as you wish. As i said i filter with 20SMA.
It will work on any time frame and the SL and TP is also to your preference. I personally only take signals with a 40 or less SL.
For my TP i use a manual trailing SL which i move manually when the the price breaks a new level on my chart. I look at the levels at each 250 move. I will also post this level indicator.
System Rules:
The original system rules can be found on the link in post #4. I however use the signals somewhat differently. I will explain how i use but you are free to change this as you feel comfortable with your trading style.
Basic rules:
If you apply the indicators to your chart, then you will be notified each time with an Up or Down arrow signaling the trade opportunity. Very simple. However trades as with any system do need to be filtered. This is a trend trading system and although it will still work ok if price is ranging and the range is big enough however it works best in a trend.
My Rules:
Opening Trades:
- I trade the 15min chart and i currently watch GBPUSD, EURJPY, USDJPY, USDCAD, AUDJPY, CADJPY, AUDUSD, EURAUD.
- I trade the Asian and London sessions.
- I only trade if the signal candle closes above or below the 20 SMA. That is to say once i get a signal for long or short, i just check the chart to see where price is and then place a pending buy or sell below/above the price a little if the 20 SMA rule is met.
- I also will only take a trade if the SL is 40 pips or less. For the SL placement i just look at the previous High/Low point.
- If the NonLagDot indicator Dot changes to the opposite colour before my pending order is triggered then i cancel the order.
TP and Closing Trades:
- I use a manual trailing SL.
- With the SweetSpotsGOLD indicator placed on my chart with a "Sub Level" setting of 250.
- When price closes above or below one of the levels then i move the trailing SL up to the last level it crossed and keep doing this until price returns. If my trading day ends and the order is still open then i just change to an automatic trailing SL of about 40 pips.
I will wirte the steps with pics to make it easier to understand in another post as this one is getting long and boring now...
Indicators:
Nonlagdot Alerts:
With MA Filter (By LM)
A great new version created by L.m, Thanks L.m
Nonlagdot:
Template:
Just place Both the Nonlagdot and Nonlag alert indis in your indicator folder. You can get alerts via email or MT4 app on your smartphone too.
Additional Indicator I use for Trailing SL:
However you can easily set your own rules depending on your type of trading style.
At first i will be showing just recent charts and trade set ups. I will then hope to show live trades or trades before they are active later on if the need arises. There is just 2 indicators which i will post later.
I will show you how i use the indicators however you are free to use them in anyway you wish. I use them with a 20 SMA filter only.
The first char i will show is the USD/CAD from last Friday. Not only a good day for the system but it always makes it very easy to show the method.
If you use both the indicators then there really is not much you need to know. Just wait for the arrow to appear showing the direction to take the trade and then decide to take it or filter it out to your preference.
You can use no filter and take all singles or filter as you wish. As i said i filter with 20SMA.
It will work on any time frame and the SL and TP is also to your preference. I personally only take signals with a 40 or less SL.
For my TP i use a manual trailing SL which i move manually when the the price breaks a new level on my chart. I look at the levels at each 250 move. I will also post this level indicator.
System Rules:
The original system rules can be found on the link in post #4. I however use the signals somewhat differently. I will explain how i use but you are free to change this as you feel comfortable with your trading style.
Basic rules:
If you apply the indicators to your chart, then you will be notified each time with an Up or Down arrow signaling the trade opportunity. Very simple. However trades as with any system do need to be filtered. This is a trend trading system and although it will still work ok if price is ranging and the range is big enough however it works best in a trend.
My Rules:
Opening Trades:
- I trade the 15min chart and i currently watch GBPUSD, EURJPY, USDJPY, USDCAD, AUDJPY, CADJPY, AUDUSD, EURAUD.
- I trade the Asian and London sessions.
- I only trade if the signal candle closes above or below the 20 SMA. That is to say once i get a signal for long or short, i just check the chart to see where price is and then place a pending buy or sell below/above the price a little if the 20 SMA rule is met.
- I also will only take a trade if the SL is 40 pips or less. For the SL placement i just look at the previous High/Low point.
- If the NonLagDot indicator Dot changes to the opposite colour before my pending order is triggered then i cancel the order.
TP and Closing Trades:
- I use a manual trailing SL.
- With the SweetSpotsGOLD indicator placed on my chart with a "Sub Level" setting of 250.
- When price closes above or below one of the levels then i move the trailing SL up to the last level it crossed and keep doing this until price returns. If my trading day ends and the order is still open then i just change to an automatic trailing SL of about 40 pips.
I will wirte the steps with pics to make it easier to understand in another post as this one is getting long and boring now...
Indicators:
Nonlagdot Alerts:
Attached File(s)
NoLagAlerts_Single_v2_4.mq4
14 KB
|
973 downloads
|
Uploaded Oct 31, 2016 10:35am
With MA Filter (By LM)
A great new version created by L.m, Thanks L.m
Attached File(s)
NoLagAlerts_Single_v2_4_MA_Filter.mq4
15 KB
|
805 downloads
|
Uploaded Nov 4, 2016 4:31am
Nonlagdot:
Attached File(s)
nonlagdot.mq4
5 KB
|
1,286 downloads
Template:
Attached File(s)
higurashi.tpl
56 KB
|
1,231 downloads
|
Uploaded Oct 24, 2016 9:03pm
Just place Both the Nonlagdot and Nonlag alert indis in your indicator folder. You can get alerts via email or MT4 app on your smartphone too.
Additional Indicator I use for Trailing SL:
Attached File(s)
SweetSpots GOLD.mq4
4 KB
|
1,017 downloads