Gold System in Development

CHFJPY was also a success, it reached the horizontal line, it also reached the resistance level as well.

For EURCHF, vertical line was already outside of the support/resistance levels so no trade, but it is interesting that price also reached the horizontal line and continued in the breakout direction. So far, nothing is broken for Forex.

For GBPCHF, vertical line was outside of the support/resistance level but again, interesting that price reached the horizontal line and continued in the breakout direction.

With NZDCHF, the vertical line fell inside the support/resistance zone, and price did reach the resistance level, which normally tells to expect bearish. But price went up instead. So this is the first time this method has failed on a Forex pair. Like I said, this was built for Gold. It still seems to work for Forex overall, but it needs a tweak. Something like not taking the trade if the horizontal line sits too close to the support or resistance level. The minimum gap could be a percentage of the distance between support and resistance, so it scales with how wide the range is.

USDCHF worked nicely.

Continuing to test Forex pairs too, next was AUD at 06:44 on Thursday.

AUDCAD vertical bar was inside the range, but it didn't quickly or, within a reasonable amount of time, reach support/resistance.

Although in fairness, it did reach the support, meaning to expect bullish movement, which it did so, the next day.

The same with AUDCHF, price did eventually reach support, although not within a reasonable amount of time for intraday trading.

And again, in fairness, it did have a bullish movement next day.

AUDJPY did reach resistance, triggering the sell limit, and the bearish move reached the horizontal line, as well as the support level.

The vertical line on AUDNZD was already outside of the range, so no trade, but interestingly notice again how the horizontal line acts like a magnet.

AUDUSD worked also.

In EURAUD, price did eventually reach resistance level and notice again after hitting support/resistance, price goes to horizontal line like a magnet.

Definitely seems useful for Forex pairs as well. I'll check the remaining AUD crosses.

Same for GBPAUD, vertical line inside range, price hits support/resistance, then proceeds to horizontal line.

Is again useful for all AUD crosses, including Bitcoin. The BTCAUD vertical line was outside of the range so no trade but notice how the horizontal line acted like a price magnet.

So in the case of Forex crosses, the indicator is useful for Forex but the SL rules needs to be improved.

I'm going to check to see if the horizontal level created by the currency time is useful for next day trading also.

On Thursday, there was the AUD reading at 06:44.