Suggestions for building a trading system

1
A friend asked about his views on indicators and trading systems, so he raised this topic.

(Because the members come from different countries and have different native languages, there will inevitably be language barriers in communication, and the meaning expressed by myself may not be very accurate)

The suggested indicators provide the original download address (because these indicators have modified their parameters when they are used, they have personal characteristics, and traders are better to use the original indicators to integrate.
If you integrate and build a trading system, every parameter in these indicators must be considered, and some need to be modified as necessary to make them "systematic", symbolizing "system" theory, instead of being a single indicator.


1. Main chart window:

(1) Main trend indicator: Triple jurik smooth button (mtf): viewtopic.php?p=1295439346&sid=613fc698 ... 1295439346

(2) Shved_supply_and_demand: viewtopic.php?f=579496&t=8473841&p=1295 ... 1295429830

(3) candles (pick one of two):

Dynamic zones polychromatic momentum bars 1.02:viewtopic.php?t=8472784&p=1295431940#p1295431940

Dynamic - zones kst bars:viewtopic.php?f=579496&t=8416995&start=790

(4) Arrow: The description is here: viewtopic.php?f=578625&t=8473832&p=1295 ... 1295437502


2. Technical indicator window:

(1) 4TF indicators: (choose one from 5, the first 3 4TFs are essentially RSI):
4_time_frame_RSI_filter: https://www.mql5.com/en/forum/181187/page62
4_time_frame_Sidus: https://www.mql5.com/en/forum/181187/page58
4_time_frame_RSI_2.1_Levels_nmc: viewtopic.php?f=579496&t=8472149&p=1295 ... 1295351380
4 time frame StepMA pdf: viewtopic.php?f=579496&t=8472149&start=440
4_time_frame_Volty_Stop_on_jurik_nmc: viewtopic.php?f=579496&t=8472149&p=1295 ... 1295352201

##Standard 7 Signals mtf can also play.

(2) Momentum indicator: Momentum emphasized RSI (any time frame) This indicator is any time frame. In MT4, you can use the same time period as MT5! It is the best any time frame indicator that can be found so far, and it is a masterpiece of Mladen Rakic.

Momentum emphasized RSI (any time frame):viewtopic.php?p=1295411111#p1295411111

If you don't like too much RSI in the trading system, you can choose Momentum pinball (experiment) fl 1.5, !! Velocity averages pinball (fl + mtf + arrows).

Momentum pinball (experiment) fl 1.5:app.php/attach/file/3388862

!!Velocity averages pinball (fl + mtf + arrows):viewtopic.php?t=8472232&p=1295436929#p1295436929

(3)! Smoothed-repulse (arrows + alerts): viewtopic.php?t=8472182&p=1295431233#p1295431233

(4) Histo indicators: fractal-channel adjustable price period histo (alerts): viewtopic.php?t=8472149&p=1295422809#p1295422809

If the MT4 chart layout is too blank, you can put more histos in the trading system. But not too much, otherwise conflicting signals may be generated, and they are afraid to place orders. You can consider adding Hama Jurik histo (mtf + alerts), which is obviously better than one more average heiken ashi smoothed histo.

Trend envelopes (averages)-histo-choosable symbol nmc can also be considered. Because there is a similar indicator Trend envelopes-of averages histo (mtf + alerts) in MT5-easy to compare.

Hama Jurik histo (mtf + alerts):viewtopic.php?t=8474345&start=80

Trend envelopes (averages) - histo - choosable symbol nmc:viewtopic.php?t=8418142&p=1295349646#p1295349646

3. Subsidiary indicators:

(1) Trading hours indicator: vertical_time_lines: viewtopic.php?p=1295368742#p1295368742
To
(2) Heatmap category: Choose one of RSI Heatmap 1.2, WPR Heatmap button, CCI Heatmap button, Stochastic Heatmap button 1.02. Only one should be added to a trading system.

Heatmap index download address: viewtopic.php?p=1295365262#p1295365262

(3) Watermark (you can play with it): viewtopic.php?f=579496&t=8473007


4. Other instructions: If you don't like the recommended main trend indicator! Triple jurik smooth button (mtf), you can choose Hama Jurik mtf.

More choices: Main chart Averages-9.42 (mtf + alerts + arrows + kelt + button), corresponding technical indicators: Averages-mtf-alerts 9.4 histo.



In fact, there are tens of thousands of indicators in forums and on the Internet. If you only focus on London and the closing of the US, most indicators are relatively accurate, with accuracy above 51%. The difficulty is to find indicators that are accurate for Asian and British and American markets, and can make money after excluding transaction costs. These indicator signals cannot be too many. If there are too many signals, the transaction cost will be very high, and the gain will not be worth the loss.

Choose 3-4 indicators recommended by Jimmy every day, you can integrate a trading system with its own characteristics!
These users thanked the author 太虚一毫 for the post (total 11):
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Re: Suggestions for building a trading system

3
太虚一毫 wrote: Sat Jul 17, 2021 4:26 pm Choose 3-4 indicators recommended by Jimmy every day, you can integrate a trading system with its own characteristics!
The idea is very good but it all ends up in a long list.
A person who doesn't have a system (as yet), won't be able to build one because he doesn't know what to choose - and more importantly - why to choose any particular indicator.
Instead of listing a ton of different indicators for main window, subwindow etc
one should ask a totally different question for the right approach (in my opinion, of course!):
which particular problem that trading poses will this indicator solve?
So - I think - the right approach (for almost anything) is a functional one.
(this may be the reason four-to-five-year-old kids ask "why?" all the time)
a) is the market likely to go up or down (overall trend bias for your chosen TF)?
b) when and how will I enter the market (fixed entry rules, possibly signalled by a particular indicator)?
c) where and why will I put my stop-loss (dependent on your risk profile, the volatility of the market and the instrument you trade)?
d) when and why will I exit a trade (fixed exit rules, possibly signalled by a particular indicator)?
Each indicator you use should answer a different question (a-d) and one question only. If your indicator is any good you don't need extra confluence etc.
I leave out money management and psychology for now.
(Of course, and as always, there will be many people who disagree and tell me I got it all wrong.)
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Re: Suggestions for building a trading system

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Personally I think that there must be a different angle to this. As indicators simply display price in a different format, one should start with the obvious: price.
When building a trading strategy I start with the simple question: What kind of system do I want to create? trend/range/pb

Anyway to get a concept of the market ask yourself one question. how is price behaving when its approaching previous days high/low - is it breaking out of the previous weeks range or is it inside. when u build up your thesis on this (market beliefs) you can add indicators. In my oppinion 1-2 indicators are enough
Attachments
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Re: Suggestions for building a trading system

5
constbln wrote: Sat Jul 17, 2021 5:51 pm how is price behaving when its approaching previous days high/low - is it breaking out of the previous weeks range or is it inside
Except that you don't start with price but with previous highs and lows + breakout or rejection of/at certain levels (visualised - as I may add - by indicators).
Actually practically nobody starts with price itself because candles etc are already a visualization (indicator?) of certain price moves/tendencies.
As a matter of fact a 5-minute candle is basically nothing but a representation of high, low, open and close of price development during that five minute period; you simply use D1 instead of M5.
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Re: Suggestions for building a trading system

6
josi wrote: Sat Jul 17, 2021 6:34 pm Except that you don't start with price but with previous highs and lows + breakout or rejection of/at certain levels (visualised - as I may add - by indicators).
Actually practically nobody starts with price itself because candles etc are already a visualitsation (indicator?) of certain price moves/tendencies.
As a matter of fact a 5-minute candle is basically nothing but a representation of high, low, open and close of that five minute period; you simply use D1 instead of M5.
Josi, es ist wirklich bemerkenswert, wie du jedem Thread deinen belehrenden Input verleihst. Liest du die Sachen eigentlich bevor du vorschnell deine Meinung postest?
Hast du irgendwo deinen Trackrecord gepostet, der das rechtfertigt? Ich bin irgendwie verwundert.

Eventuell war es nicht deutlich genug ausgedrückt, aber du schreibst:Except that you don't start with price but with previous highs and lows + breakout or rejection of/at certain levels (visualised - as I may add - by indicators).

Ich schreibe:
how is price behaving when its approaching previous days high/low - is it breaking out of the previous weeks range or is it inside

Ähnlicher Ansatz meinst du nicht? Es gibt auch im Trading zig Ansätze aber feste Ankerpunkte (prev day high/low) sind halt feste Level, die nicht verhandelbar sind

Fahr mal die Klugscheißer-Nummer einen Gang runter, führt am Ende zu nichts.
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太虚一毫

Re: Suggestions for building a trading system

7
constbln wrote: Sat Jul 17, 2021 5:51 pm Personally I think that there must be a different angle to this. As indicators simply display price in a different format, one should start with the obvious: price.
When building a trading strategy I start with the simple question: What kind of system do I want to create? trend/range/pb

Anyway to get a concept of the market ask yourself one question. how is price behaving when its approaching previous days high/low - is it breaking out of the previous weeks range or is it inside. when u build up your thesis on this (market beliefs) you can add indicators. In my oppinion 1-2 indicators are enough
What you you mean by "market beliefs"??

My 3 Cents: The only thing useful on a chart is, that it shows historical price levels to watch where traders have been willing to buy or sell. These can be short term or long term, depending on the TF you use for trading. Sell would obviously mean the highs and buy means the lows. At this levels history often repeats itself. Other than it, I give importance to daily opening levels and where we go from there. Additional Indis are just for decoration or maybe helpful to keep you in a trade for a while.
Thus your chart actually shows it all. I guess you use a weekly Hi/Low indicator. I'd suggest you post it if you don't mind, so interested people here can actually relate to what you are telling.
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Re: Suggestions for building a trading system

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So a market belief might be about bias from the opening price. Here is an example of a super simple system using the dreaded half trend (not too sure why this indie has a bad name but perhaps because of the repainting- this one non-repainting or very little at least...). It includes a bias from the open so if below the open you would just take sells, above buys. Shown amplitude is 2 but obviously, you can adjust. Throw in something like pivots or some other point of interest you might use to target exits and there you go. Indie also has built-in targets if you'd like to adjust those. Much thanks and credit to the original author.
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太虚一毫

Re: Suggestions for building a trading system

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amgp wrote: Sun Jul 18, 2021 6:44 am Hi, does anyone know where I can find MT4 HotKey Indicator where I can swipe multiple currency pairs using keyboard shortcut keys?

I don't understand what you mean. If you are looking for Symbol changer, here are some:
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