Maffe wrote: Tue Aug 22, 2023 7:15 pm Thank you very much, I was refering to the current price. I took an entry and unfortunatly it was a loss, but please enlighten me if it was not according to the rules

again I highly apperciate your detailed response

No worries man. Yeah, you always want to be extra careful when trading Gold. Especially on a 1M timeframe. It's easier to say what one should've done in hindsight so I'll try my best to pretend I only see this chart up until when the bearish crossover happened.

Here are tips from my experience with this system.
1) In the indicator settings, turn go to the ADR indicator and set all lines except "ShowCloseLines" to true. This way it is easier to see areas of interest. If you look at where you were trading, you were just above the area for buy entries; look to the right of the chart and you will see "Buy", "Open" and "Sell". I used to trade solely off those levels when there was a corresponding MA crossover and it worked well but often stopped me out before continuing the trend. Combine those areas of interest with 2nd dot entries and your win rate will improve.

You were in the buy zone and while a strong sell can happen from that point, it's not usually in your favor from my experience. Grey dots indicate minor pullbacks while blue/pink dots are stronger pullbacks/potential reversals. Ideally, you should've waited for a pink dot as opposed to a regular grey dot. That and you are quite far from the sell zone.

2)Most versions in this section if not all are pretty much the same, but with different ways of showing the trend. This latest setup is still good but for beginners, I personally wouldn't recommend it. Other versions have better oscillator indicators in the sub-window for filtering out false moves/fake outs.
See my attached image. It's the exact same spot as yours but using V65. A green open line is in favour of buys, the ZZ line is still moving upwards, and in the sub-window, you have a blue spike indicating a reversal, and the point of entry seems invalid just by looking at it. Notice the grey candles. And also in the sub-window, the yellow line crosses over the red which actually supports a buy trend.
I encourage you to backtest with different versions and see which best suits your trading style(what pairs and TFs you like to trade). You will find that some are better for you than others.

3) Use Oscillator indis for filtering. In V65, the green and red blocks support their respective trends, if it is blank or opposite to what you are planning on trading, don't take the trade. I underlined them in the sub window.