You don't do yourself justice, our kid! Even though you developed it for Indices, it works perfectly well on TRENDING currencies!xard777 wrote: Wed Oct 21, 2020 3:45 pm This however, does not translate too well on forex and the like... My Bad.
Xard777
The strategy is to IGNORE the last semafor dot/square and trade off the CONFIRMED semafor dot/square on the next higher time frame. (XARD: ...and all this time I thought confirmation was at the 2nd DOT).
Since this is a "SIMPLE TREND FOLLOWING TRADING SYSTEM" we need to trade in accordance with Newton's first law of motion which states:
""An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force"".
In trading terms this means PRICE will continue to go higher and make higher highs and higher lows UNTIL it reaches a SUPPLY level (or RESISTANCE) where sellers are waiting to SELL. Eventually the sellers will create a pull back and a lower high and lower low and then the RED semafor square/dot will be confirmed and glued in place.
As with ALL "Trend Following Trading Systems" this is CRAP when PRICE is trading in a range or consolidation and will drain your account if you try to use it to trade under such conditions.
Thanks Xard
Cheers,
Rob
