Free Forex Indicators, MetaTrader Tools and Honest Trading Guides
Five RSI trend rules on EURUSD and gold, M5 and M15, spread included: 40 runs, 0 passed every check. The 50 cross lost 1.65 pips a trade on EURUSD M5, worse than 95% of random entries. Buying the dip to 40 won 19.6% of trades on EURUSD M15. And RSI did stay in 40 to 80 on 91% of uptrend bars.
Read More
MT4 has no built-in VWAP. Here is how to install one, and what its settings did: 4 resets and 5 band widths on gold and EURUSD, 104 pairs. The weekly reset had the best median on 3 of 4 charts, the 22:00 UTC reset was worst on gold. Plus the volume spike rule that made +$3.08 an ounce a trade.
Read More
The same cross, pullback and band fade rules on VWAP, the same line without volume, and an EMA 50, on gold M5 and M15. VWAP came first in 2 of 6 match-ups, the EMA in 3. Weighting by volume turned the M5 fade from +$0.94 into -$0.70 an ounce, and the M15 fade the other way.
Read More
Four VWAP and volume rules on gold and EURUSD, M5 and M15, spread included. None of the 24 VWAP line runs passed; the pullback lost $5.95 an ounce a trade on gold M5. The only pass was a volume spike on gold M15: +$3.08 an ounce a trade. And EURUSD had volume on 0 of 16,926 bars.
Read More
Eight Ichimoku settings with five rules each on EURUSD and gold M15, spread included. The default 9/26/52 had the best median on both markets and made money with all five rules on gold. Here is how to set it up in MT4 and MT5 and trade the Tenkan/Kijun cross on the right side of the cloud.
Read More
Ichimoku recalculated on 80 cut-off histories: no closed-bar value changed. But the Chikou span is drawn 26 bars back, so on a history chart it shows a later close. Read that way, the strong signal on EURUSD M15 went from 37.3% wins and -0.68 pips a trade to 58.5% and +3.60, and passed a split-half check.
Read More
Five Ichimoku rules on EURUSD and gold M15 with the spread, two exits each. On gold four runs passed every check, led by the Tenkan/Kijun cross on the right side of the cloud at +$4.59 an ounce a trade. On EURUSD M15 none passed, and on EURUSD M5 all ten lost after cost.
Read More
How to set up the Bollinger Bands 20/2 and RSI 14 reversion system in MT4 and MT5, with a 1 ATR stop and an exit at the middle band. On gold M15 it made +$1.69 an ounce a trade after cost on 114 trades, positive in both halves. 49 of 54 nearby settings were positive on gold M15; all 54 lost on EURUSD M5.
Read More
Five forex trading systems taken apart on EURUSD and gold, M5 and M15. Removing the 200 EMA trend filter improved 8 of 12 runs. The system’s own stop and target beat a plain 12-bar hold in 13 of 20, and the Bollinger and RSI entry on gold M15 went from -$1.48 to +$1.69 an ounce a trade on its exit alone.
Read More