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Re: Dashboard Type Indicators for MT4

naluvs01, Wed Jul 06, 2022 1:58 pm

Knight wrote: Wed Jul 06, 2022 11:22 am Hello Fam!

It's been a while I saw your post. Your trading and approach greatly improved and gave alotta consistency to my trading. What basket form or currency strength do you currently use in selecting your currency pairs to trade now?.
I've been using Heiken Ashi candles to determine strength and weakness on the Daily Timeframe. This shows me where to look for the trades. Basically, if the strength of one basket has two bars more than the another, it tells me where to look for a trade. I then confirm that the CCI (60) is above/below the zero level on the pair. I'll share my template because FS family has been great. In a nutshell, based on the picture I provided, you can see that JPY is clearly stronger than GBP. Therefore, you would look to sell GBPJPY this week. And you can see the results.

Keep in mind, you ONLY want to look at the row of squares just left from the end. That's because the squares all the way to the right are current and haven't closed yet. And if you trade based on that, they will changed and you will regret it. The best setups is when the Heiken Ashi agree with the CCI. However, remember it still lags and you will miss some first moves. I recommend using 3 WPRs (5,10,15) to confirm entries. When all three are above/below the - 50 level, enter the trade. Also, in many cases the CCI, with WPR3 can be enough to trade without considering the Heiken Ashi indicator. My greatest suggestion is never trade against the direction of the CCI (60), regardless of what the Heikin Ashi shows.

Hopes this helps some one.

Also, I reversed the color on the hieken ashi indicator so the colors would have continuity....
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