Free Forex Indicators, MetaTrader Tools and Honest Trading Guides
EMA cross, MACD, RSI, Stochastic and Supertrend re-checked on EURUSD and gold, M15 and H1. On closed bars 0 of 2,250 recalculations changed an arrow. On the open bar 1,273 of 3,922 arrows, 32.5%, vanished before the close, and trades on them lost money in 20 of 20 runs.
Read More
How to add the Choppiness Index and GRI to MT4, and what 112 settings did to a 20-bar breakout. 0 of 56 made money on M5. On gold M15, 15 of 28 made money and 10 in both halves, all Choppiness. Best: period 14 below 45, +$3.16 an ounce over 115 trades. The textbook 38.2 was the weakest cut-off.
Read More
Three trend-or-chop filters on the same breakout, EMA cross and Bollinger fade, EURUSD and gold, M5 and M15. Filtered rules beat unfiltered ones in 15 of 41 runs. ADX: 2 of 10. Choppiness split at 50: 5 of 12 and 2 of the 3 passes. None predicted how straight the next 24 bars would be.
Read More
The GRI chaos filter rebuilt and tested on EURUSD and gold, M5 and M15, spread included. It correlated with ATR at 0.81 on three of four charts and with how straight price moved next at -0.07 to +0.03. As a filter it improved 4 of 11 runs and turned a gold M15 breakout from +$0.21 to -$1.32 an ounce.
Read More
How to mark swing highs and lows in MT4 with Fractals and ZigZag, and what 120 settings did: swing lengths 2 to 10, three entries, two exits. 34 made money after cost, 31 on gold, 0 of 30 on EURUSD M5. 3 passed every check, about what luck gives. Best: 3-bar swing, higher low entry, gold M5, +$1.76 an ounce.
Read More
Higher highs and higher lows against price above the 200 EMA on the same bars. They agreed on 65% to 70% of bars. When they disagreed, structure was right 55.8% of the time on EURUSD M5 and the 200 EMA 57.8% on gold M15. Price crossed the 200 EMA 663 times on EURUSD M5, structure flipped 266 times.
Read More
Price action structure as exact rules: swing highs and lows, BOS, CHoCH and the higher low entry on EURUSD and gold, M5 and M15, spread included. 0 of 32 runs passed. A break with the trend reached +1 ATR before -1 ATR 36.3% of the time on EURUSD M5, a random bar 49.4%. CHoCH beat BOS on all 4 charts.
Read More
How to set up an RSI trend rule in MT4 and what 144 settings did: periods 7 to 21, levels 50, 45/55 and 40/60, EMA 50 to 200. On gold M15 30 of 36 made money and RSI 14 at 45/55 with EMA 100 made +$3.38 an ounce a trade. The default lost $0.50. On EURUSD and M5, 0 of 108.
Read More
Four RSI trend rules against the classic 70/30 fade on the same bars. On gold the trend side won 12 of 16 match-ups, on gold M15 all 8. On EURUSD the fade lost less in 14 of 16. And after RSI crossed 70 in an uptrend, EURUSD M5 was higher 12 bars later 86 times and lower 81.
Read More