BrainSystem: Setup Questions - page 5
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This thread about rules https://www.mql5.com/en/forum/173181
Close bar is bar #1. Previous bar. See previous posts for the description.
For example, you see the signals on open bar. You are waiting intill this bar will be closed. So, it will be closed bar or previous bar or bar #1. New bar will be opened. Number is new bar is bar #0. You had the signal on previous bar (=bar #1 = close bar).
Thus, when new bar is open so you should look at previous bar with the signal for confirmation. I-XO indicator is understandable (by color). Confirmation by Stochastic for buy: Stochastic is on uptrend moving from 25 level or any level you selected.
As to exit so there are many kinds of exit and it was described on this thread https://www.mql5.com/en/forum/172939
We are trading on the close bar.
Close bar = previous bar = bar #1.
The signals, confirmation and exit should be on bar #1. Previous bar. In case of open order: we open order on the next bar from the signal. Exit: we should have exit by indicators or any on bar #1 as well and next bar is open - and we are closing the order.
"Trading on close bar" are not my words. It means the following: bar with the signal, confirmation, exit or any should be closed. It is well-known terminology. All signal systems (asctrend, labtrend and so on) are trading on close bar.
Most of exit rules (not all of them, just most of them) are related to stop loss mving by trailing stop. So, when you open the order the main task for you is to move stop loss. Exit on Parabolic SAR is related to stop loss moving by trailing stop.
It is one of the example now.
Today:
EURUSD - no any signals;
GBPUSD - no any signals;
USDJPY - no any signals;
USDCHF - just one trade with about +30 pips in profit (open the order next from the signal bar - means - trading on close bar).
Sometimes I am not trading some pair. I open the chart and understand that it is not my week this week: I will not trade this pair. How can I understand it? You will see it if you open the chart and will not find any objective laws about what you see on the chart by indicators. You can open the chart with Ichimoku indicator (D1 and W1 timeframes) and if price is inside Ichimoku cloud so it is better not to trade this pair this week. Few weeks ago it was for GBPUSD. Now - for EURUSD.
And it is just the examples about what I said here. There were no any signals for buy or sell withing trading hours. It is just an example.
It is EURUSD:
It is GBPUSD:
Just imagine that we will have good buy or sell confirmed for GBPUSD. And I will look at the history of the week and will see the chart as I posted here ... so I will not open the order.
...You can open the chart with Ichimoku indicator (D1 and W1 timeframes) and if price is inside Ichimoku cloud so it is better not to trade this pair this week. Few weeks ago it was for GBPUSD. Now - for EURUSD.
It is the examples with EURUSD H4 timeframe (AbsoluteStrength indicator is on not trading condition - not buy and not sell):
EURUSD D1 timeframe (price is inside Ichimoku cloud - Ichimoku indicator, default settings, D1 timeframe):
and GBPUSD D1 timeframe (AbsoluteStrength indicator is on not trading condition - not buy and not sell):
AbsoluteStrength indicator and all the talking about how to estimate market condition using this indicator: read this thread https://www.mql5.com/en/forum/general (it is somewhere in the middle or in the end of the thread with images and description).
I am sorry - I do not want to complicate this subject but everybody knows that I am always using some other systems or indicators for technical analysis or to estimate the market condition. Because if you do not have time so it is always important to know in the beginning of the week: will you trade this pair this week or not.
So, I am suggesting to use technical analysis as well because it will save time a lot and it is necessary sometimes for signals system.
PS. What is "signal system"? It is when you see some dot or arrow on the chart and you must open the order only because you see this dot or arrow on the chart fully relying on indicators. So, it is necessary to use other technical analysis every day when using any signal system (if we do not want to rely on the dots so much).
Some people are asking about where to find Braintrading M30 version.
Look at this post to download indicators and install them on Metatrader, and finally you should got the charts similar with this one and this one.
So hows it going?
Hi all, Just wondering how well this systems working for those of you who are using it. Big thanks to newdigital for all your hard work and yes like you said in your previous post its important that market analysis is done prior to following the dots/arrows.
Regards
bh4v1k
Please find attached indicators and template for M30 timeframe as many people requested.
Edited:
27th of March 2008: Igorad fixed all-in-one indicator and alert was added.
Alert settings:
AlertMode = 0; //0-off,1-warning mode,2-alert modeHi,ND.
In the two Zip file,I find three folders. What's the differences of this three folders?Should i put all the indicator in the "C:\Program Files\MetaTrader4\experts\indicators "?
Yes, it is written on this post about how to install https://www.mql5.com/en/forum/173139/page2
So,what is all-in-one indicator ? I mean what are BrainTrend1_all_in_one1.mq4 and BrainTrend2_all_in_one1?
Are them conbined by other indicators?
Thanks for your quick reply.