82#Forex Day Monster Forex System
Submit by Maximo Trader update 204 new version
Timeframes: 15-minute and 30-minute charts
Currency Pairs: Focus on volatile currency pairs (e.g., GBP/JPY, EUR/USD, AUD/USD, etc.)
Platform: MetaTrader 4
Indicators:
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Main Chart Indicators:
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Heikin Ashi Smoothed (1, 6): This smooths out price action and helps identify trends.
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Holy Grail 1.7:
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Main Period: 10
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ADX Period: 7
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Draws Buy/Sell arrows based on ADX trend strength.
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Pivot Points Levels: Used for identifying support and resistance levels.
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Sub-Chart Indicators:
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PBF Squeeze:
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Green Histogram: Bullish momentum
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Red Histogram: Bearish momentum
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Brown Histogram: Trend slowdown (transition between bullish and bearish)
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Entry Rules:
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Buy Entry:
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Heikin Ashi Smoothed shows bullish candles (green) with no lower wicks, indicating a strong uptrend.
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Holy Grail 1.7 Buy arrow appears (based on ADX indicating strength of the trend).
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PBF Squeeze shows green histogram bars, confirming bullish momentum.
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Price is above a key Pivot Point support level (e.g., R1, R2, or above the central pivot) This option is optional.
Additional Confirmation: Enter the trade when all conditions align, and avoid entries during brown histogram periods from PBF Squeeze, as they indicate trend weakening.
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Sell Entry:
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Heikin Ashi Smoothed shows bearish candles (red) with no upper wicks, signaling a strong downtrend.
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Holy Grail 1.7 Sell arrow appears (ADX indicating trend strength).
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PBF Squeeze shows red histogram bars, confirming bearish momentum.
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Price is below a key Pivot Point resistance level (e.g., S1, S2, or below the central pivot) This option is optional.
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Additional Confirmation: Avoid entering short trades when the PBF Squeeze shows brown histograms, as they indicate potential trend reversal or weakening.
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Exit Rules:
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Take Profit:
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Take profit at the next Pivot Point level. For example, if entering a long trade near the central pivot, target R1 or R2 for profit.
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If the PBF Squeeze histogram changes to brown (indicating a trend slowdown), consider exiting early.
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Stop Loss:
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Place stop-loss just below the last pivot support level for Buy trades and above the last pivot resistance level for Sell trades.
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An alternative stop-loss strategy is to exit the trade if the Heikin Ashi candles show a clear reversal pattern (e.g., color change or appearance of wicks opposite to the trade direction).
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Example Setup:
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Buy Setup:
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On the 15-minute chart of GBP/JPY, you spot Heikin Ashi candles with no lower wicks (bullish trend).
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The Holy Grail 1.7 draws a Buy arrow, signaling a strong trend.
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PBF Squeeze histogram shows green bars, indicating bullish momentum.
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Price has bounced off the central pivot point and is heading towards R1.
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Sell Setup:
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On the 30-minute chart of EUR/USD, Heikin Ashi shows bearish candles with no upper wicks (downtrend).
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The Holy Grail 1.7 draws a Sell arrow.
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PBF Squeeze histogram turns red, confirming bearish momentum.
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Price has broken below S1 and is heading towards S2.
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Risk Management:
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Risk 1-2% of your account per trade.
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Avoid trading when the PBF Squeeze histogram turns brown, indicating indecision or a slowdown in momentum.
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Notes:
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Use Pivot Points as dynamic support and resistance levels for entry, stop-loss, and take-profit placement.
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The Holy Grail 1.7 and PBF Squeeze work together to confirm momentum and trend strength, while the Heikin Ashi smoothed candles filter out noise in the price action.
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AlexS (Friday, 15 November 2019 07:45)
Like it's brother Forex profit monster, the ma channel projections need to have a zero added to each as the system was devised during 4 digit broker era, this will then display the ma projections correctly on a 5 digit broker platform.