Strategy can be found here...http://www.forexfactory.com/showthread.php?s=912fb0839ade285289db51737242cd08&t=521306
I. TIMEFRAME & PAIR
This works on Any pair or Any timeframe (Best M15 & Above)!
I prefer to work on H1 during London Session (GMT 8 to GMT 16)
to avoid false INTRADAY breakouts and because of my personal trading time
II. ENTRY
System can work for trend and counter trend positions.
A basic trend filter uses 200EMA and 100EMA. (Bullish if PA above 200 and 100, Bearish if below)
You have the option not to trade counter trend setups.
Most of my trades are with the trend. But i counter trend on strong S/R or extreme overbought/oversold conditions
Buy Entry Rules
1. Buy Signal arrow on "BO Channel" (Arrow means first closing bar above channel)
2. Nihilist ADX (7),(21),(42) is Green or Blue
3. RSI Historgam(7) is Blue Only (Avoid Green because overbought)
4. CCI Histogram(14) is Blue Only (Avoid Green because overbought)
Sell Entry Rules
1. Sell Signal arrow on "BO Channel"(Arrow means first closing bar below channel)
2. Nihilist ADX (7),(21),(42) is Red or Orange
3. RSI Historgam(7) is Pink Only (Avoid Red because oversold)
4. CCI Histogram(14) is Pink Only (Avoid Red because oversold)
The entry point is strictly only on the bar close with signal arrow.
Late entries(2 or more bars after arrow is not valid). All rules should be met on the signal arrow.
III. StopLoss
For Long/Buy Trades
1. Below Lower Channel Line on the Entry Bar
2. Or recent Swing Low (Whichever you are comfortable)
For Short/Sell Trades
1. Above Upper Channel Line on the Entry Bar
2. Or recent Swing High (Whichever you are comfortable)
IIIB. Trailing StopLoss (OPTIONAL)
You can trail your SL (it’s up to you)
I seldom trail my stops; I do when if I caught a strong breakout
For Long/Buy Trades
1. You can use the Lower Channel Line to trail your Long trade
For Short/Sell Trades
1. You can use the Upper Channel Line to trail your Short trade
IV. TakeProfit
Bigger time-frame means bigger take-profit. Don't expect big profit on a small time-frame chart.
1. When decent profit achieved (up to you)
2. Equal to Stop loss (for 1:1 Risk Reward)
2. Value of the Channel Height on the Entry Bar (usually less than 1:1 RR)
3. (2X) Times the Value of the Channel Height on the Entry Bar (Suggested Max TP)
V. Exit (OPTIONAL)
You can close the trade manually to avoid uncertainty (it’s up to you)
For Long/Buy Trades
1. Any of the Nihilist ADX is Red or Orange
2. RSI Histogram is Pink or Red
3. CCI Histogram is Pink or Red
For Short/Sell Trades
1. Any of the Nihilist ADX is Green or Blue
2. RSI Histogram is Blue or Green
3. CCI Histogram is Blue or Green
VI. NOTES
1. The entry point is strictly only on the bar close with signal arrow.
Late entries(2 or more bars after arrow is not valid). All rules should be met on the signal arrow.
2. This system does NOT repaint after bar close
2. News Trading is your choice (BEST TO AVOID MAJOR IMPACT NEWS TRADES)
3. Only risk small and trade light
4. Please respect everyone's opinion
Example of Buy
Example Of Sell
