Advanced system #7 (EUR/USD breakout system)
Submitted by User on November 3, 2007 - 14:43.
We've created a new page for discussions of the new Forex System that was kindly posted by our Visitor. Thank you for taking time and efforts to share this Forex system with us!
Edward
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What is ur comment on this similar system
time frame 1 hour
ema(144) and ema(169) and sma(400)
System uses highest high and lowest low of candles from 1.00 GMT to 6.00 GMT
conditions needed to make trade:
1- Entry price must be away from Vegas tunnel and/or SMA(400) at least 35 points (rebound zones)
2- Orders are set after the close of candle 6.00 GMT
Put buy stop order at the highest high + 5 pips
Put sell stop order at the lowest low - 5 pips
Stop loss orders are put at lowest low - 3 pips and at highest high + 3 pips consecutively
Limit orders = stop loss count value + 15
http://img89.imageshack.us/img89/1611/ddzd5.gif
Pair Eur/USD
chance 1
no short orders because price is near vegas tunnel
Long order was not taken on 1.4267+5=1.4272 because it is not hit
Chance 2
No short orders again for same reason
Long order was taken on 1.4276+5=1.4281
stopp loss =1.4247-3=1.4244
limit=(1.4281-1.4244)+15=52 pips
limit is at 1.4281+52=1.4333
Chance 3
Short order was not taken as 1.4315-5=1.4310 was not hit
Long order is taken as 1.4338+5=1.4343 was hit
entry: 1.4343
stop loss at 1.4315-3=1.4312
limit= (1.4343-1.4312)+15=46
limit is at : 1.4343+46=1.4389
Thank you from
Edward Revy
and my best Forex strategies Team
http://forex-strategies-revealed.com/
Copyright © Forex Strategies Revealed
hi edward
you say you have moved the post to a separate page. How can i acess to this page?
antónio
lisbon
hy edward
Hi edward pleASE DO YOU EXPLAIN TO ME WHAT DO YOU MEAN IN VEGAS TUNNEL PHRASE
ALL APRECIUATE FOR YOUR EFFORT4
SAMEH ,
Hi Edward,
thanks you so much. Now i'm understand :)
Koth
Hi Koth,
1. Right.
2. Your trading time would be 8 am to 1pm.
Regards,
Edward
Hi Edward,
thank you very much for your answer ! And i want to ask you some questions,
1. Is 35 points = 35 pip that's right ?
2. I live in Cambodia GTM+7, so my time is from 8am to 2pm ?
thanks you again !
koth
EMA indicator - Exponential Moving Average indicator
SMA indicator - Simple Moving average indicator
144 EMA - 144 period Exponential Moving Average
These indicators can be found on any trading platform. The period you set yourself in the indicator settings.
Vegas Tunnel is a channel created by 144 and 169 EMA - see the purple lines on the first screen shot on page 1.
(Also you may come across a custom indicator called "Vegas tunnel", but the basics behind it are still the same.)
Happy trading!
Edward
Hi Edward,
thanks you for this shairing, but I am a newby in forex, i don't know what ema 144 , ema 169 and sma 400 are stand for ? and what is the vegas tunnel ? thanks you for help me and sorry for my english.
Koth
Hi Edward,
Thanks for the sharing.
I'll be test this strategy with 1-risk vs 2-reward ratio for at least 3 year.
Soleh
there can be 2 channels - one for entry, one for exit
efextrading.com
Hi Madhu,
The system is based on a channel breakout. In such systems trades us the other side of the channel as the Stop. Unfortunately, I don't have a better solution for the stops for this method.
Kind regards,
Edward
Hi Edward
First of all, a lot of thanks for what you are doing to us traders! Kudos.
I have back-tested this system, for this current month, February and prefer to use 2am to 7am candlesticks in the H1 chart (GMT + 1 time frame) as originally intended by the author. But I see a problem in the stop loss. I feel it is very high. Any solutions from you on this part?
Madhu
To put a line 35 pips away from the vegas tunnel: goto the *levels* tab on the moving average input window and add two levels at 35 and -35 (350/-350 for 5 digit brokers) and adjust the *style* pulldowns to your own liking.
I'd do this for all 3 lines
Hope this helps.
Is this system still profitable? Anyone did any back-testing? Would e great to know the results.
Edward, I must thank you for this wonderful site. There are no words to describe the wonderfulness of this site. 4 thumbs up!!!
Looks really interesting.
Has anybode done a complete backtest to it? what did it reveal?
Thanks
Fredrik
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