FREE FOREX STRATEGIES

Complex trading system #15 (Rainbow Madness)


Submitted by Azim

Hello everyone..

I just found a strategy that should be easy for anyone here..but first of all i would like to thank the author (Trader100) for sharing and thanks to Edward & the team too for leading us to the path to become a 'real' trader.

Alright lets get started=D

Timeframe : 30min
Pairs : GBP/JPY, GBP/USD, EUR/USD (Recommended)


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Hello - thank you for this system!!! Just one question, I can't find a "15MACD" for mt4 like the one in your charts anywhere. Can you post that here? Thank you.

By the way do u mind to post your template here?=)

Hai,

Nice one there, Im glad to hear the good news=D so there is no problem in entering the trade thats nice. and what pairs did you try?and what timeframe is the best?

Regarding the exits, i have no better idea but i would suggest you to use trailing stop(what i usually do) or set the TP around 15pips and let the remaining lots to run freely, also not to forget to move your stop loss to breakeven=) anyway if you found a better exit please let me know because exiting the trade is the hardest part in trading.

Cheers,
Azim

@Azim: I've testing this system (v2) for the past two weeks and it has given me consistent results. I've eliminated Stochastic indicator though as it creates too much noise and replaced it with RSI(21) on M30 and RSI(14) on H4 and D1. Though it does make an excellent oversold/overbought making indicator in addition to RSI. The problem here is exit, you just cannot exit at RSI/STOCH overbought at all times I exited more at the "feel" of the market which is not always good. We really need to work on better exit for this system, but overall, I attest to it's high probability. We have the entry straight and clear and that is the best part of the work :). I like it.

hehe Thanks again Edward;)

Take Care,
Azim

MMA stands for Multiple Moving Average [the group of averages].
This group consists of our well known EMAs.

Regards,
Edward

The MMA is the custom indicator, you can download it above - RainbowMMA_06, RainbowMMA_07,RainbowMMA_08..

Im not sure MMA is stand for what, i guess its just a name for it but as i know, it is similar like exponential moving average=)

regards,
Azim

what is MMA please? what type of moving average?

hello again Mat,

Honestly i try different types of strategy and i am working with zigzag,im trying to catch a big move.anyway regarding your question,10 and 12 set to Exponential(EMA).

As i have tested this system,it can grab 20-30pips and above per trade but i tested only rainbow madness V1.

Regards,
Azim

@Mat,

First I think you should READ through the post a couple of time before asking questions.
There are two very simple way to find out what MA´s he is using:
1 - READ THE POST "Trigger EMA’s – 10 EMA (open) ; 6 EMA (close)"
or
2 - Check the tpl file in MT4.

I think everybody will get DIFFERENT results, trading in general is SO MUCH MORE THAN A STRATEGY.
In the end its all about YOURSELF, and how YOU are trading. That is why some people are making money, while others are loosing. Try to find your own strenght and weaknesses.

Just my 2 cents worth anyway. Happy Trading.

Btw: Rainbow´s have been quite popular in scalping trades, so I am quite certain a lot of people will find this useful. Thanks for sharing this Azim.

hi again with the 10 and 12 EMA are they set on simple/Exponential/smoothed/linear weighted
thanks.Mat

hi just woundering what sort of return have you been getting with this system
thanks for the quick reply
thanks mat.

hello there,

All the MMA's is for Metatrader 4..you just need to download it above and paste it to your Metatrader 4 folder>experts>indicators(Rainbow MMA6,MMA7,MMA8)

By the way thanks, sounds good
mat

Hi can u get the Rainbow mmas on meta trader 4


 

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