Forex Daily Trading - NNFX StyleHere is my implementation of the No Nonsense Forex way of trading.
I've tried to apply most of VP's rules to the best of my coding abilities. As of now, with default settings, the strategy does not perform exceptionally well - however I'm pretty confident there is a combination of settings that will make it profitable across all pairs, and maybe even commodities.
If anyone can find some good performing settings for this strategy please let me know and I'll provide the full logic and all indicators within the strategy. Also, if you have any suggestions of any indicators you feel could improve this strategy let me know and I'll update.
If anything doesn't make sense/doesn't work, or if you just need some more information please just let me know. Enjoy!
Moneymanagement
ATR Position Sizing by Solah AzmanThe indicator generates position sizing based on ATR value, the idea is to minimize position size during a period of high volatility. If you have a high-risk tolerance you can change the trading style to "High Volatility Entry".
[GM-PRO] Money ManagementVolatility riskreward moneymanagement
This script tells you where to place your Initial Take Profit Targets and Stop Losses both long and short. The position of these targets is based on price volatility (using ATR to calculate).
Distance of stop loss and take profit can be modified as multiples of the ATR.
For a 2:1 reward:risk ratio, set Take Profit to 2 and Stop Loss to 1.
Coming Soon:
BASELINE
- over 20 moving averages to chose from
- ATR bands
- trend colored candles and signals on crossover
TDFI (Trend Direction and Force Index ).
- Ultimate Volatility Indicator
- Keeps you out of flat Matkets
- Many settings to tweak for optimization.
Consensio Vision MA - Tribute to Late Dean Tyler JenksA wonderful mentor, fearless leader and incredibly humble man, father alike and world renowned bitcoin influencer also known for the invention of robust money management system named consensio moving averages, Tribute to Late Dean Tyler Jenks who made this possible.
Explanation
this indicator make use of three simple moving averages, idea is to incrementally invest little by little in the bull market when all moving average is moving up
A more in-depth guide for consensio is available here
How to use this indicator?
This indicator plots weekly moving average on daily and/or hourly time frame, the basic idea is to see how smaller time frame like daily and hourly trend reacts to larger time frame like weekly moving averages and what are the possible support and resistance area on these smaller time frame and also to arrive at better entry points while doing that.
The name Consensio Vision is chosen cuz.. it's a free reminder to never loose long-term vision (in this case weekly trend) of where you're going
Consensio Vision MA - Tribute to Late Dean Tyler Jenks
Lucid's Principles Of Investing - These are principles foretold by Late dean tyler jenks.. he goes on to saying that those 12 principles will keep you out of trouble or will identify trouble or will identify your human behavioral problems
1. CASH IS KING - in terms of my investing principles is very simple cash is king, I would rather be in cash than any other asset class, unless an asset class is trending to the upside (or bull market) the cash is king
2. Market doesn't move in straight line - all asset classes trimmed up and down, as tyler goes on to say he dont believe in buy and hold strategy, i'm giving you the tools to get you out of market so you dont have drive down bear events like 2009 crash, he further suggests you sould react (or make decision) before a 10% drop in market.
3. Timeframe - trends are short days or weeks intermediate weeks or months and long months or years so principle number three is don't just talk about something is in a trend be precise are you talking about a short-term trend an intermediate term trend or a long-term trend...
just saying something is in a trend is irresponsible, you've got to identify your time frame
4. Wait! Bear market is different - cash is king and unless asset class is trending up there are times that you want to take advantage of a trend that is down but it is not the equivalent of investing in a trend that is up it is far more dangerous far more difficult it can be done but that's not one of the main principles, (also check rule number 7 as both are related)
5. Only long-term trends are investments - word trading is not really an investment term trading means buying or selling it has nothing to do with what you're attempting to achieve in terms of either speculation gambling investing ... those are not opportunities for investing because they're short or they're intermediate.. that doesn't mean that you can't speculate and have that turn into a position trade and have it turn into a possible swing trade and then have it turn in to an investment however be prepared once you've made an investment where that investment in a short or an intermediate term time frame to move against you
6. Never invest in a FOMO (fear of missing out)- loss of money loss of cash loss of wealth is not equivalent to a loss of opportunity
it is 100 times more important than a loss of opportunity
7. understand the importance of Percentage - a 50% gain is not an inverse equivalence of a 50% loss that is the single most important rule or principle that Lucid uses in determining when to get into or out of an investment and it goes back to number six that a loss of money is not equivalent to a loss of opportunity
8. all long-term trends are fundamentally based, repeat all long-term trends are fundamentally based
9. number nine is a corollary but it's separate all short and intermediate term trends are not fundamentally based, long term trends are not affected by news are not affected by headlines are not affected by company announcements or country announcements they are affected in the short in the intermediate term and therefore your probability of success goes way up as your timeframe frame goes longer
10. Fundamental vs technical - technical tools are invaluable in identifying trends fundamental tools are not invaluable in identifying trends - that's why technical analysis is so important it gives you something that fundamental analysis will never give you in time so technical a pro active mechanism or money management tool and fundamental is a lagging indicator hoever its what drives the market in log term
11. Profitability based on time aka VISION- I see even very sophisticated investors doing is they let the technical tools give them a signal on the short-termer intermediate-term and they believe because it's the tool that they're using that it's giving them an equivalent probability of success and it is not!
it's probability of success at the short-term is less than at the intermediate term and is less than at the long-term
12. the last one long-term trends are more important than intermediate which are more important than short term, tyler developed a scale where he ranks
long-term trend 5,
intermediate term trend 3,
short-term with a 1
(note: if you add both 3 & 1 its still smaller then 5)
if you add together my intermediate term weighting of 3 and the short term weighting of 1 that you do not equal the long term weighting of 5 that means that both the short and the intermediate term can be going in a direction but that does not negate the direction of the long term trend it's a simple way of looking at it and I use the word in number 12 important not simply to mean importance in terms of the weighting system but the probability of success of each of those 3
so if you're using a short term 15 minute 30 minute one hour signals or probability of success drops dramatically and therefore you've got to factor in where your stops are relative to that probability when you're in a long term trend a five waiting you don't need to use stops when you're in an intermediate term trend you've got to use stops and when you're in a short term trend you've got to use closed stops
official website- lucidinvestmentstrategies.com
Noro's Connors modified - with arrows and alertsThis is a study for providing alerts to this strategy
Hidden Average True RangeScript to help you find appropriate stop placement
ATR of Time frame you are in (HTF are better) * 1.55 = x
if short : x + close = STOP
of long : x - close = STOP
Amazing Crossover System - 100+ pips per day!I got the main concept for this system on another site. While I have made one important change, I must stress that the heart of this system was created by someone else! We must give credit where credit is due!
Y'all know baby pips. @ForexPhantom published about this system and did both back and forward test around 10 years ago.
I found it on the sit and now I put it to code to see how it performs. I assume 10 points spread for every trade. I use Renesource or AxiTrader to get the low spreads.
There are 2 mods, the single trades and constant trading on the direction.
Main concept
Indicators
5 EMA -- YELLOW
10 EMA -- RED
RSI (10 - Apply to Median Price: HL/2) -- One level at 50.
TIME FRAME
1 Hour Only (very important!)
PAIRS
Virtually any pair seems to work as this is strictly technical analysis.
I recommend sticking to the main currencies and avoiding cross currencies (just his preference).
WHEN TO ENTER A TRADE
Enter LONG when the Yellow EMA crosses the Red EMA from underneath.
RSI must be approaching 50 from the BOTTOM and cross 50 to warrant entry.
Enter SHORT when the Yellow EMA crosses the Red EMA from the top.
RSI must be approaching 50 from the TOP and cross 50 to warrant entry.
I've attached a picture which demonstrates all these conditions.
That's it!
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