Hi Guys
I wanted to put this strategy into the strategy system forum as I have no reason to sell this system but it looks like I have to use the commercial system.
This system incorporates the Rainbow and livelli system on the 5 minute time frame.
I have already opened up a strategy on the livelli system but I think this system is an improvement as it incorperates the Rainbow indicator which enables the user to find out when the trend is strong
It as a plus 90 percent strike rate and works with most pairs with low spread.ie 1 to 3 pips
Trading takes place at the begin euro session and can continue until the end of the usa session
This system can be used on all pairs as long as the spread is low ie 3 pips or lower eur/usd , gdb/usd eur/yen usd/cad euro/cad and also gdp/yen
The idea is to take 2 trades Both trades are put to break even after 7 pips and the first trade takes profit at 10 pips plus spread
The second trade is trailed at the users discretion either by a trailing stop or moving the stop after every 5 minute candle
The thick white line is a 60 ema which I use as an initial stop loss but this is just an emergency stop and as soon as 7 pips is made then I will move the stop to breakeven
The rules are quite simple but best described by a screen shot of trades taken
For a buy trade red ,yellow, green cyan and purple moving averages must line up in the right sequence with no cross overs of colours we then take a buy trade on the blue livelli line
For a sell trade red, yellow, green, cyan and purple moving averages must be in the right sequence with no cross overs of colours and we can put a sell trade on the red livelli line
Additional rules are
1 No trading 15 minutes before to 15 minutes after a major news
event
2 Do not enter into a trade if the currency pair as moved 80% of its daily
3 I do baby sit these trades until the stop loss is at break even and will pull out of a trade if the rainbow goes out of alignment
I wanted to put this strategy into the strategy system forum as I have no reason to sell this system but it looks like I have to use the commercial system.
This system incorporates the Rainbow and livelli system on the 5 minute time frame.
I have already opened up a strategy on the livelli system but I think this system is an improvement as it incorperates the Rainbow indicator which enables the user to find out when the trend is strong
It as a plus 90 percent strike rate and works with most pairs with low spread.ie 1 to 3 pips
Trading takes place at the begin euro session and can continue until the end of the usa session
This system can be used on all pairs as long as the spread is low ie 3 pips or lower eur/usd , gdb/usd eur/yen usd/cad euro/cad and also gdp/yen
The idea is to take 2 trades Both trades are put to break even after 7 pips and the first trade takes profit at 10 pips plus spread
The second trade is trailed at the users discretion either by a trailing stop or moving the stop after every 5 minute candle
The thick white line is a 60 ema which I use as an initial stop loss but this is just an emergency stop and as soon as 7 pips is made then I will move the stop to breakeven
The rules are quite simple but best described by a screen shot of trades taken
For a buy trade red ,yellow, green cyan and purple moving averages must line up in the right sequence with no cross overs of colours we then take a buy trade on the blue livelli line
For a sell trade red, yellow, green, cyan and purple moving averages must be in the right sequence with no cross overs of colours and we can put a sell trade on the red livelli line
Additional rules are
1 No trading 15 minutes before to 15 minutes after a major news
event
2 Do not enter into a trade if the currency pair as moved 80% of its daily
3 I do baby sit these trades until the stop loss is at break even and will pull out of a trade if the rainbow goes out of alignment