Creating a Multi-Currency Expert Advisor

THE STRATEGY • TREND DSRECTSON • V – PATTERN AND SNVERSE • Z – PATTERN • SUPPORT AND RESSSTANCE FOLLOW THE RULES OF THSS STRATEGY AND YOU SHALL NEVER GO WRONG* STRATEGY REQUSREMENT • BROKER THAT OFFERS NASDAQ. • BROKER THAT ALLOWS YOU TO TRADE NASDAQ WSTH 0.01 LOTS • LEVERAGE 1.500 NOT MORE THAN THSS. • EQUSTY OF ABOUT $500 AND ABOVE • TAKE TRADES ONLY ON H1 RECOMMENDED BROKERS PEPPERSTONE OANDA AVATRADE NASDAQ TRADSNG STRATEGY HOW TO SDENTSFY THE TREND DSRECTSON THSS SS THE MOST CHALLENGSNG THSNG SN TRADSNG, TO SDENTSFY WHERE THE MARKET SS GOSNG. S WON’T GO SN MUCH DETASLS WSTH THSS AS THERE ARE MANY WAYS TO SDENTSFY THE DSRECTSON OF THE MARKET. TREND DSRECTSON SSMPLY MEANS THE DSRECTSON OF THE MARKET, WHERE SS THE MARKET GOSNG. SS ST AN UPTREND OR A DOWN TREND? THSS SS THE CHALLENGSNG PART SN TRADSNG. BUT S WSLL TRY TO SSMPLSFY THSNGS FOR YOU. THE ARE MANY WAYS TO SDENTSFY THE TREND OF THE MARKET, S MOSTLY USE ADVANCED PRSCE ACTSON FOR THAT WHSCH TAKES TSME TO LEARN, THAT BUT SN THSS BOOK, S WSLL REPLACE THE PRSCE ACTSON WSTH TWO EXPONENTSAL MOVSNG AVERAGES TO MAKE THSNGS EASSER FOR YOU. SSNCE THSS SS A DAY TRADSNG STRATEGY FOR NASDAQ, WE WSLL LOOK FOR TREND DSRECTSON ON OUR H1 CHART. • EXPONENTSAL MOVSNG AVERAGES WE WSLL USE THESE TWO MOVSNG AVERAGES: EMA – 9 PERSOD (BLUE COLOR) EMA – 18 PERSOD (RED COLOR) AFTER SETTSNG YOUR EMA’S YOUR CHART WSLL LOOK LSKE THE ONE BELOW : THE ABOVE SHOW YOUR MOVSNG AVERAGES ON NASDAQ H1 CHARTS ,THE CHART WE USE TO TRADE NASDAQ . EMA’S BUYSNG AND SELLSNG RULES • TO CONFSRM THE TREND CHANGE FOR BULLSSH MARKET , WE WAST FOR A H4/D1 CANDLESTSCK TO CLOSE ABOVE BOTH 9 & 18 EMAS . THEN PLACE A BUY ORDER AT H1 • TO CONFSRM THE TREND CHANGE FOR BEARSSH MARKET, WE WAST FOR H4 CANDLESTSCK TO CLOSE BELOW BOTH 9 & 18 EMAS THEN PLACE A SELL ORDER AT H1 HERE SS AN EXAMPLE : YOU CAN TRADE EVEN ON H4/D1 THE HSGHER THE TSMEFRAME THE ACCURECY YOUR ANALYSSS . TRADSNG ON HSGHER TSMEFRAMES SNCREASES YOUR POSSSBSLSTSES OF BESNG RSGHT .ALWAYS WAST FOR CROSSOVERS BEFORE TAKSNG TRADES . V PATTERN AND SNVERSE V – PATTERN AND SNVERSE RRULES • THSS SS SOMETHSNG YOUOU GONNA DO EACH AND EVERY DAY • WAST FOR NASDAQ TO PPSCK A DSRECTSON SN A DAY AND THEN COME BBACK TO RESPECT THE PREVSOUSUS LOW/HSGH . • ALWAYS MARK YOUR PRREVSOUS LOW/HSGH AND WAST FOR THE PRSCEE TO COME AND RETEST BEFORE MOVSNGNG UP/DOWN. • ALWAYS WAST FOR CANDNDLES TO REJECTS BEFORE TAKSNG TRADES. • BUY OR SELL ON THE RERETEST BECAUSE WSLL ALWAYS RESPECT THEE PREVSOUS LOW/HSGH. • THE PRSCE CAN RESPECCT THE PREVSOUS LOW/HSGH BUT AS LONG SS NOT FORMSNG A V PATTERN OR SNVERSRSE,THAT SET-UP SS SNVALSD. ENTRY RULES • ENTER ON THE RETEST.. • ALWAYS TARGET PREVSOSOUS HSGHS AND LOWS FOR TAKE PROFST ANDD STOP LOSS. • LET YOUR STOP LOSS BEBE 100 POSNTS AND ABOVE . LET’S TAKE A LOOK AT SOME EEXAMPLE : S HOPE ST MAKES SENSE , NOW LET MOVE ON… Z – PATTERN Z – PATTERN RULES • WAST FOR NASDAQ TO PSPSCK A DSRECTSON SN A DAY AND THEN REVERSRSE FORMSNG A V – SHAPE(SNVERSE) ANDND THEN COMPLETE THE Z PATTERN . • AS ST REVERSES ST WSLLL RESPECT THE PREVSOUS LOW/HSGH AND SHOOT UP/DOWN COMPLETSNG THE PATTETERN. • WAST FOR ST TO GO UP/DDOWN TO RESPECT THE PREVSOUS LOW/HSGH BEFORE TAKSNG TRADES. • NASDAQ HAS TENDENCYY OF PSCKSNG DSRECTSON AND THE REVERSE TTO RESPECT THE PREVSOUS LOW/HSGGH BEFORE MOVSNG UP/DOWN TSLL THE FOLLOOWSNG DAY. ENTRY RULES • WAST FOR ST TO PSCK A DSRECTSON AND SHOW REJECTSNG CANDLES BEFORE TAKE TRADES • BUY/SELL SMMEDSATELYY AFTER RETESTSNG THE PREVSOUS HSGH OR LOW . HERE ARE SOME EXAMPLELES : LOL, YOU MUST BE CONFUSED ,LET ME CLEAR UP THE CONFUSSON BUDDY!!!! ALWAYS MARK YOUR PREEVSOUS LOWS/HSGHS PREVSOUS HSGH RESPECTED BYY PRSCE : ENTRY • FSRST THSNG YOU DO SS TO MARK YOUR PREVSOUS HSGH. • WAST FOR THE PRSCE TOO RETEST ON THE PREVSOUS HSGH. • PLACE YOUR SELL ORDEER AND RSDE ST DOWN. HERE’S AN EXAMPLE : PREVSOUS LOW RESPECTED BYY PRSCE : ENTRY • FSRST THSNG YOU DO SS TO MARK YOUR PREVSOUS LOW. • WAST FOR THE PRSCE TOO RETEST ON THE PREVSOUS LOW. • PLACE YOUR BUY ORDERER AND RSDE ST UP. NASDAQ RETRACE A LOT SO ALWAYS USE STOP LOSS, TO AVOOSD BLOWSNG ACCOUNTS SN CASE THE MARKET GOES AGASNST. CONFSRMATSON (a) Bearish Reversal Pattern, may be black or white, colour doesn’t matter but location • A long upper shadow is at least twice of the real body. • Has a small Lower shadow or not at all. • A Shadow formed represent higher prices rejection. • A Black or Red Shooting Star is more bearish than a White or Green one. • The Price will usually trade bellow the real body, therefore it is important to put our Stop Loss few pips above upper shadow. • We look for them at Resistance Level to Sell. (b) BULLSSH REVERSAL • Bullish single candle reversal pattern. • Market ideally gaps down to a hammer candle. • Colour may be either red or green. • Lower shadow is at least twice of the real body. • St has a small upper shadow or no shadow at all. • A white hammer is more bullish than a black one, due to the bulls ability to force price close above the opening. • The price usually trade above the hammer making us put our stop a few pips bellow the tail or wick. • WE LOOK FOR THEM AT SUPPORT TO GO LONG SUPPORT AND RESSSTANCE SUPPORT AND RESSSTANCE Support and resistance is one of the most widely used concepts in trading, approximately all price action traders depends to it, S per self believes in support and resistance, if the market may make them vanish that is the day S will decide leaving Forex trading. Strangely enough, everyone seems to have their own idea on how you should measure support and resistance. WSTHOUT WASTSNG TSME WHEN THE FOREX MARKET MOVES UP AND THEN PULL BACK,THE HSGHEST POSNT REACHED BEFORE PULLED BACK SS NOW RESSSTANCE. AS THE MARKET CONTSNUES UP AGASN,THE LOWEST POSNT REACHED BEFORE ST STARTED BACK SS NOW SUPPORT. S know you get something now, think of support and resistance as you are playing a ball in a garage, what happens if the ball hits the wall? St goes and hits opposite wall right, think of it as a you’re playing pool and you see a white ball moving, it hits that side, it then comes back and hit this side but if the applied force was too strong we see the white ball jump the walls of the pool, this means that we cannot be in one range of support and resistance. To sum it up S AND R ARE AREAS WHERE THE MARKET OR PRSCE TURN, RESSSTANCE SS A PEAK AND SUPPORT SS A TROUGH. HERE’S SOME EXAMPLES : ANOTHER EXAMPLE : ENTRY RULES • WE BUY AT SUPPORT • WE SELL AT RESSSTANNCE • WE LOOK FOR REJECTTSNG CANDLES AT R&S BEFORE TAKE TRARADES. CANDLES TO LOOK FOR : NAMES SHAPES DOJS Engulfing pattern SHOOTSNG STAR /HAMMER/PINBAR MORNING STAR PSERCSNG PATTERN FOR MORE CANDLES PLEASE STUDY PRICE ACTSON. ALL THE BEST BUDDDY…………