Re: XARD - Simple Trend Following Trading System

12611
I am making some final adjustments to the XU v48-Universe setup as part of the Xard #2023 Trading Plan. I have added a filter called the Price Momentum Oscillator (PMO) from Kvak in the sub-window. Essentially, when the RSI is above the PMO in the sub-window, it may indicate an upward trend, and when the RSI is below the PMO, it may suggest a downward trend. I will look to include it in the Trading plan under additional filters.
Xard777

Revised version based on trading the Dow Jones Index...
The Xard #2023 Day Trading Plan is designed to efficiently execute trades using a combination of zigzag patterns and moving average crossovers to identify potential intra-day turning points and confirm them before entering trades. Additional filters and stop-loss orders are used to manage risk and limit potential losses if the market moves against the trade. The goal of this plan is to streamline the trade execution process while effectively managing risk.

Here is a step-by-step guide on how this strategy might play out:
1. Check the News reader: Look for major news events that can impact markets and avoid being caught off guard by unexpected market news.
2. Identify a Zigzag pattern: Look for a blue zigzag line with a white or pink semafor dot in the price action of the security. This pattern may suggest that a turning point is approaching.
3. WAIT!!! for confirmation: Once the zigzag pattern has completed, wait for the 9-ema moving average to cross the 36-ema trend line. This moving average crossing can serve as confirmation that the turning point is occurring.
4. Additional Filters: If the RSI is above the PMO in the sub-window, it may indicate an upward trend, and when the RSI is below the PMO, it may suggest a downward trend. Also, look for instances where price is crossing the Xard Index line in conjunction with the RSI crossing the PMO line filter.
5. Enter a Trade: If you see a clear confirmation of a turning point, you may want to consider entering a trade in the direction of the anticipated move. This may involve looking for instances where the Zigzag has formed, the RSI has crossed the PMO, and the moving average line is crossing the trend line, or where the price is crossing the Xard Index line in conjunction with the RSI crossing the PMO.
6. Set a Stop-loss order: To manage risk, set a virtual/manual stop-loss order at the previous level of the zigzag. This will limit your potential loss if the price moves against your trade.
7. Intra-day trading Exit Strategy: Intra-day moves can sometimes result in a gain of +100 pips. When this happens, traders may choose to take their profits at the half-way point, where a red or blue dot is often seen, and consider re-entering the trade if there are signs of continuation. This is just one possible strategy, and traders should make decisions based on their own analysis and risk tolerance. Alternatively, some traders may choose to stay in the trade and add to their position if the market continues in their favour. It is important to have multiple exit strategies in your trading plan.

Having a well-defined trading plan can help you to trade with confidence and allow you to make more informed decisions about when to enter and exit trades.

Please delete the previous XU v48 folder and replace it with the enclosed version.
Here is the News reader indicator so you can stay informed about upcoming news events.
XARD: If Carlsberg made charts... Probably the best charts in the world


Re: XARD - Simple Trend Following Trading System

12613
Here is a revised RSIOMA to use on 5mTF with PMO.
Just copy over to XU v48 folder and restart MT4, should be good to go.
Xard777
XARD: If Carlsberg made charts... Probably the best charts in the world

Re: XARD - Simple Trend Following Trading System

12614
<3
XARD: Seeing if you are paying attention.
PS love the Avatar.
Attachments
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Chickenspicy, FAIZANXG, DaveTrader
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.


Re: XARD - Simple Trend Following Trading System

12617
I found a problem: the position of PMO and RSIOMA will be Redrawn.
friends attention
These users thanked the author Jedidiah for the post:
Meyney
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: XARD - Simple Trend Following Trading System

12619
Minor modification, turned off built-in alerts.
The color and size of the big dot have been modified
These users thanked the author Jedidiah for the post (total 3):
StuartWong, Chickenspicy, RodrigoRT7
Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: XARD - Simple Trend Following Trading System

12620
honje19960321 wrote: Wed Jan 04, 2023 1:48 pm I found a problem: the position of PMO and RSIOMA will be Redrawn.
friends attention
The indicators don't redraw. The position of PMO and RSIOMA seems to be shifting because RSIOMA has a fixed, 0 to 100, scale while PMO doesn't have a fixed scale. This makes comparison difficult. Comparison will be smoother if kvak can normalise the PMO indicator.
These users thanked the author traderokey for the post (total 4):
Jedidiah, xard777, Skyold, kvak


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