Complex trading system #6 (Munzer Forex System)
Submitted by Edward Revy on October 9, 2007 - 04:30.
Munzer - South Lebanon submitted own Forex system:
"Hello
I am using this strategy and it works well with me
I like to share it with others
This website is the best I have got use off
Mine is on 1 hour chart:
Two EMA of settings 5 and 15 - close
Two EMA of settings 144 and 169 - close- vegas 1 hour tunnel
asctrend2 for determining stop
MACD settings 12,26,9
RSI settings 21
Trend trigger mod
Entry long:
EMA 5 and 15 crossover upward
crossover of MACD lines upward
RSI(21) > 50
and TrendTriggerMod upward
Short entry:
EMA 5 and 15 crossover downward
crossover of MACD lines downward
RSI(21) < 50
and TrendTriggerMod downward
Hint1: do not make the trade if trendtriggermod do not agree the others
Hint2: beware of the 2 EMA's 144 and 169 They work well as Support and
Resistance
Exit: Use new crossover of MACD lines
Stop loss depends on asctrend2 or use ATR(14)*2"
Munzer, our greatest appreciations for contributing this Forex system!
Thank you! Well done!
(Forex Strategies Team http://forex-strategies-revealed.com/)
Find another Forex system by Mohammed Munzer at
http://forex-strategies-revealed.com/mohammed-munzer-forex-system
how it works with GBP/JPY ?
tks
Ele
Ele, with GBp/JPY it is better to take concentrate on long trades when price is over vegas tunnel and the short trades when price is below it
This is a chart revealing :
1- false entry signal
2- reliable entry signal
3- undesired entry signal
- The false entry signal is symboled by aqua colored "x" ( entry conditions lacks trendtriggermod harmony or agreement with others)
- the valid entry signal is symboled with down arrow and check sign at 1.1772 with candle open and there the trendtriggermod moved downwards so agreeing the other indicators(RSI<50,5EMA<15EMA,MACD Crossing downwards).
Exit were at 1.1692 with the opening of the candle depending on new MACD crossover upwards.
- The undesired entry signal is symboled with Plum colored "x" and it is becoz price is near Vegas 1 hr tunnel(resistance area) although conditions were valid.
Dear Munzer,
Thanks for your detailed analysis.Do you know Sidus system,using LMW 5,8 maybe better than LMW 12?
Do you think which system will be most useful to GBP/JPY for scalping or long-term trading.
Thanks again for your help
Ele
hi, anyone can give me explanation :
1. what do you mean with "trendtriggermod" ? is it a kind of custom indicator? I never heard about it
2.what is asctrend2 (for determining stop)?
3.what is vegas tunnel ??
I never heard that kind of indicator before...
Thank you very much
Great Job For the site
Rein
Hi Rein,
These are custom indicators for MT4:
TrendTriggerMod.zip
The indicator line should agree with a trend.
AscTrend2.zip
Easy to follow dots here are used for determining stops.
Vegas1HR.zip
Instead of Vegas1HR indicator you may simply use EMA 144 and EMA 169 to create Vegas tunnel.
Regards,
Edward
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