Submit by Joy22

Protofilter Forex Strategy is based on Protofilter indicator and for example on slow half trend. Protofilter indicator mq4 i is an ambitious but simple idea that is to try and modify a filter to make it suitable for trading and build a skeleton and in the same time an template that can be adapted for other templates and for each time frame playing only on the configuration of the basic indicator. The idea stems from the fact that sometimes there are interesting strategies but they lack a filter. 

Protofilter mq4 indicator is very flexible and can be adapted to many types of trading from scalping to swing trading whether they are trend or trend momentum.So you can modify existing strategies and build new ones.

For example you may want to build a day trading strategy with existing arrow and add pivot levels. Support and resistance levels can be added with superdem. In short, you can wander with the imagination.

In the example below I modified a commercial strategy (Scalper X2 period 13) scalping with Protofilter (period 10).

Indicators for build the skeleton template

Protofilter (8)

Half Trend amplitude 4

Someone has said that this is a commercial strategy that is being sold now (Half Trend amplitutde 4). I enjoyed adding Protofilter mq4 indicator .

This skeleton is suitable for the following 15-30-60 time frames. min.

Couples major and minor currencies. Indexes: S&P 500, DAX and Dow.

Trading Rules Protofilter Skeleton

Buy

Half trend buy arrow

Protofilter green bar.

Sell

Half trend sell arrow

Protofilter red bar.

As this is a basic skeleton model, the exit rules allow the user or the eventual strategy to modify with Protofilter indicator to change.

In the pictures protofilter indicator mq4 in action.

Update 27/05/2019

Joy22

Protofilter with Real Trend is another example of application of the protofilter this time with the Reaal Trend arrow indicator, an arrow based on the Day Trading Point Zero zigzag but this indicator is also suitable for swing trading being very flexible. It does not repaint and looks for inversions. The protofilter also in this case proved to be particularly suitable for filtering the purchase and sales signals generated by this indicator.

Time Frame 5 min or higher.

Currency pairs with low spreads.

Template setting

Protilter indicator 9 period.

Real Trend 14, 2.

The filter rule is this:

the buy or sell signal is valid if agreed within three bars with the protofiter.

Buy

Buy arrow and green bar within three bars.

Sell

Sell arrow and red bar within three bars.

Exit is discretionary depends on the time frame minimum ratio profit target stop loss is 0.95 / 1.

Initial stop loss on the previous swing.

P: S This system expresses maximum power with the Range Bar but with the setting of the Real Trend setting (9.2). But the original configuration is also fine depending on the degree of risk and on the money management adopted.

Protofilter with WPR is an other example of application of protofilter for day trading. We have the protofilter indicator that filter the Forex Smart Scalper. If compared to the original indicator the protofilter is better in filtering the signals generated by the Forex Smart Scalper indicator.

This strategy can be used on 5 and 15 min, 30 min, 60 min. time frames.

Currency pairs: GBP/USD, USD/JPY, EUR/USD, EUR/AUD EUR/JPY.

Metatrader 4 Indicators

Protofilter setting 10 period

WPR arrow signal (period 4).

Pivot points level.

Trading rules

Buy

WPR arrow signal indicator buy arrow.

Protofilter green bar

Sell

WPR arrow signal indicator sell arrow.

Protofilter red bar

Note that at 5 min time frame is high frequency scalping. This strategy is suitable for side markets.

Exit options:

Initial stop loss on the previous swinghigh / low.

Profit Target predetermined that depends by currency pair, at opposite signal at the levels pivot.

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