PK simple two colour system

[peterke]

Hi, I have come to forex trading in recent times. I do have a share trading background but less than 12 months fx experience.

I have been looking for a fx system that is highly visual, simple, consistent and easy to understand in any timeframe.

I have played around with and used a number of systems but have been looking for something that is simpler to understand and retains an intuitive element to it.

I have incorporated indicators from several systems to create this. I'm not pretending its particuarly orginal or clever. Many thanks to "The Rumpled One" for the latest semafor versions as they do add value to this system.

The key to this system is about having the balance of probablility in your favour and picking up potential trends in any timeframe with simple rules.

The rules are basic

1. Trade away from the major turning points identifed by the Tro Semafor (level 3 and level 2)and Bol bands. For confidence trade in the direction of the major trend (3) using level 2 for entries.

2. Enter when HMA and Goldminer indicator are the same colour

3. Initial stop is a few pips above or below the pivot peak

4. Exits are reasonably subjective, for shorter timeframes exit when pip target reached or reversal established with confirmed change in HMA or Candle colour.
For higher timeframes I suggest a trailing stop.

I know several of these indicators repaint but it doesn't matter to much as entry is on confirmation of a change in direction rather than at the point of change. The use of these indicators probably stops back testing also but I can live with that.

I have included Bollinger bands to give visual reference to the bars and movement. I have used previously Murray Math lines but didn't find they added much so have removed them.

The Stochastic is included for visual confirmation of change and potential change as it moves above and below 20 and 80.

The HA candles are used because they are more visual than traditional candles.

The arrows and crosses are from several other indicators are are used to provide confidence particuarly for secondary changes and are not needed.

I have also used other indicators to show intensity but keep coming back to a simpler approach. The Waddah Attar Explosion is probably the one I would add to give a sense of intensity to the moves.

Comments, questions welcome

rgds
PEter

[noone22]

Could you zip MT4 template and all mq4 indicators used
and submit them as attachement, please

[Patch]

HI Peter

Good morning, or afternoon ! Wondering what the blue and red bar indicator is above the STO? I've come to like BBs as you--it is my favorite squig. jb

[peterke]

Hi, thanks for the interest.

I will attach indicators in next post.

The blue and red line is a modifed Hull moving average. I have found it quite good to trade with at higher timeframes as it is quite consistent. At lower timeframes it moves around a bit especially in choppy markets.

The goldminer has the same issue. I am trying to find something that is a little more consistent for lower timeframes. Any ideas
rgds
Peter

[peterke]

Template and indicators are attached

I will add optional indicators into a second postrgds

Peter

[peterke]

These are optional and more about me seeing which ones I like and are useful over time.

I don't suggest you use them all. I have tended to use the VQ as it is quite consistent but its all personal.

rgds

Peter

[noone22]

Thank you.
Let me know, if you need (just in case)
mq4 versions of your ex4 (I've decompiled them).

[lukx]

Peter,
"3. Initial stop is a few pips above or below the pivot peak "

which pivot you're talking about?

[Patch]

noone22

What do you use to decompile the ex4 files into mq4's?

Patch the Pirate

[noone22]

What do you use to decompile the ex4 files into mq4's?

It's a big secret!
Purebeam decompiler version 224 would decompile
nearly every ex4 (except protected or corrupted ones),
which were compiled under Metatrader4 built 224 (May 2009)
or earlier.

Don't ask me, where I've got it - Internet is big, you know.

I couldn't post a public link, because it would be dead in 48 hours.

PM me, if you're interested in getting a copy.