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GBPJPY Daily Trend Method

This document summarizes a daily trend trading method for the GBP/JPY currency pair using 30-minute candlestick charts. It examines three specific 30-minute bars between 9:30 AM and 11:00 AM EST each day. It provides buy and sell signal criteria based on the Custom Trend, RSI, and ADX indicators, with stop losses of 100 pips and take profits of 125 pips. Exit signals include reaching the take profit, stop loss, an opposing signal the next day, or being stopped out at break even. Screenshots are provided to illustrate the system.

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398 views3 pages

GBPJPY Daily Trend Method

This document summarizes a daily trend trading method for the GBP/JPY currency pair using 30-minute candlestick charts. It examines three specific 30-minute bars between 9:30 AM and 11:00 AM EST each day. It provides buy and sell signal criteria based on the Custom Trend, RSI, and ADX indicators, with stop losses of 100 pips and take profits of 125 pips. Exit signals include reaching the take profit, stop loss, an opposing signal the next day, or being stopped out at break even. Screenshots are provided to illustrate the system.

Uploaded by

ghcardenas
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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GBPJPY Daily Trend Method

Posted by Muri 17 April 2011 at 6:06 PM Pair: GBP/JPY (we may be able to add more pairs in the future) Time Frame: M30 Indicators: * 20 period RSI with the 50 level clearly defined * 14 period ADX with the 25 level clearly defined * Custom Trend with default settings * Forex Off Trend with default settings Download Template And Indikator: Custom Trend.ex4 Multi purpose trade manager.mq4 ForexOffTrend_Alert.mq4

gbpjpy daily trend method.tpl Download excel file GBPJPY Daily Trend.xls

We are only concerned with three bars. The bar that starts at 9:30 AM EST and ends at 10:00 AM EST, the bar that starts with 10:00 AM EST and ends at 10:30 AM EST, and the bar that starts at 10:30 AM EST and ends at 11:00 AM EST. On my MT4 with forex.com these bars are: 13:30, 14:00, and 14:30.

Buy Signal: If the following parameters are TRUE at the close of any of the bars mentioned above we will BUY at the market price. 1) Custom Trend must be blue (teal) 2) RSI must be above 50. Any reading above 50 is acceptable. 3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day. Stop Loss = 100 pips (plus spread) Break Even = Multi-purpose trade manager should move stop to break even at plus 100 Take Profit = 125 pips Exit Buy Signal:

1) When Take Profit or Stop Loss is reached 2) If, on the following morning, you receive a signal in the opposite direction. 3) If you are stopped out at break even. 4) I will explain add-ons at a later point in time.

Please look at the screen shot(s).

Sell Signal: If the following parameters are TRUE at the close of any of the bars mentioned above we will SELL at the market price. 1) Custom Trend must be red. 2) RSI must be below 50. Any reading below 50 is acceptable. 3) ADX must be above 25. Any reading above 25 is acceptable. However, the ADX is more of a "Condition" than a trigger. If it is not above 25 at the close of the first bar there is no trade for that day. Stop Loss = 100 pips (plus spread) Break Even = Multi-purpose trade manager should move stop to break even at plus 100 Take Profit = 125 pips

Exit Sell Signal: 1) When Take Profit or Stop Loss is reached

2) If, on the following morning, you receive a signal in the opposite direction. 3) If you are stopped out at break even. 4) I will explain add-ons at a later point in time.

Please look at the screen shot(s).

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