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Trailing Stop Expert Advisor - The EA manages an open position with a trader supplied Trailing Stop. If the trailing stop is less than the allowed stop, the EA changes it to the allowed minimum stop. Trader can run the EA on any chart even if the ticket number (s)he supplied is for a different symbol.
GBP/JPY 1M scalping strategy -
Currency: GBP/JPY or USD/JPY (though i use it mainly on gbp/jpy:
Timeframe: 1M, 5M, 15M
Indicators: 3 sets of bollinger bands:
1) Period 50. Deviation 2 (RED)
2) Period 50. Deviation 3 (orange)
3) Period 50. Deviation 4 (Yellow)
(the template for this bollinger bands can be downloaded from this post)
Once you load your template you will notice the three sets of bollinger bands. Now, price will constantly range between these lines.
When price crosses the upper red band , at least half way to the orange band (if it gets to the yellow band is better but not as usual)
Then the price will tend to retrace towards the center of the bollinger bands, you profit form this retracing.
Buy Strategy, it is the same as selling, the difference is that we will wait for the price to range between the lower red and yellow bands, and trade the retracing towards the center.
Tips: do not trade on ranging ,or quiet markets, do not trade previous to news releases. Go for 5 to 10 pips. Great system to trade between opening of london session and the closing of the japan session.
Stop Loss: since this strategy requires you to look at the screen (remember this is the 1M time frame) I tend to have two kinds of stops: time based and loss based.
Time based: Try and figure out how long will it take the market to get in your expected direction, if the time that you planned is already due, then close the order. No point on waiting for a loss...
Stop Loss: Since you are trading a very tight time frame your stops should also very very tight. Sometimes, you will profit from a 3 minute trade and you wont be able to set a proper S/L. So your stops will be given to you by your money management system...
Template is attached as Zip file Download
Please, UnZip downloaded zipped file with WinZip or 7ZIP,Jzip software.
You can download and use 7ZIP and Jzip software for free
There is indicator mq4/ex4 file inside.
To install downloaded indicator use the following steps :
Step By Step installation for MT4 Build 600 and later
1) Open your MT4 platform
2) Click File — Open Data Folder
Here you will find a folder called MQL4, this is the new “home” for all your .ex4 or .mq4 files you have
3) Open folder MQL4. Here you will find Indicators folder
Copy your Indicator (ex4 or .mq4) files into MQL4/Indicators folder.
Do this by right clicking on the file and clicking “copy”
4) Restart your MT4
5) On the left hand side, look for the "Navigator" window
6) Under the "Common" tab, look into the "Indicators" directory
7) Locate the indicator which you have just downloaded into the folder stated in Step 3
8) Drag (Click and drag) the indicator onto the chart
9).That's it... done
ZCOMFX daily trend Indicator v3 MetaTrader indicator - Allows You to have a look at 8 currency pairs and their 5 indicators with this, 1 indicator.
It is recommended to use it on higher time frames, such as 4H, Daily, Weekly. For example, if trading on 15MIN TF, put this on Daily chart, and trade strongest and weakest currency pairs, depending on trend direction.
LIME arrow - extreme Bullish trend.
GREEN arrow - simple Bullish trend.
FIREBRICK arrow - simple Bearish trend.
RED arrow - extreme Bearish trend.
Make sure you have activated Chart Shift