Jeslyn
- Indicators
- Justine Kelechi Ekweh
- Version: 2.0
- Updated: 23 November 2024
- Activations: 6
This is a multi-purpose system that suits both Binary options, and Forex. Manual traders can use this either as a scalping system or a strategy to get into very strong momentum, or it can be automated for forex trading with Universal EAs.
This is a less-risky system if you know what to do with it or just use a universal EA. Use on M5 timeframe
There is of course no chance of repainting or recalculation. Once the price closes, the arrows remain there forever! This is because prices don't lie. It will only recalculate if ticks recalculate, but they don't, so no chance! To save resources, I reduced the look-back arrows to 5000 bars back only, if you would want to check the history.
Stick strictly to the recommended trading time, which is from GMT+00AM - 7PM UK time.
Avoid 15 minutes before and after high-impact news.
For binary options traders, use at your own discretion, although it suits options trading, deciding the number of candle expiration is entirely up to you
For forex manual traders, learn to develop a money management system, it's up to you to use it as a scalping system or a strategy to get into the market. and understand how to use an ATR to calculate your lot size, take profit and stop loss. This is very important. For example, the GBPJPY pair is usually more liquid and volatile than the AUDCAD pair. It would be a crime to use the same lot size, take profit or stop loss. If you use a fixed lot size 0.13, fixed TP, and SL for AUDCAD, you need to reduce that lot size if you get a signal for GBPJPY or your SL is getting hit before your trade is even settled.
For example,
EURUSD ATR for 20 candles = 2 pips, I use 0.13 lot size.
EURUSD ATR increases to =3.2pips, I reduce lot size to 0.12
EURUSD ATR decreases to =1.0, I increase to 0.15 or 0.16
EURUSD ATR increases to =6.5, and I decreases to 0.08.
This is an example of how to increase and decrease your lot size according to your ATR and it doesn't matter the currency pair.
Expert Advisors (EA): get yourself a universal EA and just put in this special indicator if you don't want the troubles of emotions, lot size calculations, and sitting on your computer all day long. Make sure it filters out news events.
Get My Jesversal Universal EA and use it.
Finally, I left this as an indicator and not EA because I wanted all types of traders to key into this. It is a multipurpose system.
Jesusdjpy EA is the robot version, available on my page.
MT5 version works very well on Deriv synthetic indexes, see screen-shorts for clarity.
Green pips all us all. Success and good luck!
