whole system in more details. The very last thing we should do is to display the Data window. If the market is going against us, we should simply accept the small loss and quit the trade. Since we are entering at market price, we have act quickly, before the price moves too much. In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The system is very easy to use, so there is no reason why you shouldnt get the same results. You will see green bar chart on black background that is set to 1 hour timeframe. You cannot control the market, or where the price will go, the only thing you can really control is how much you risk in one trade.
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The indicator file (FxMorningTrade. The rule is to go long if CCI is above 0, or go short if CCI is below zero. This indicator checks the rules of the system and gives us a clear guide to whether go long, short or no trade. Short signal We will go short (sell) if and only if ALL the following conditions are met: Momentum(60) of the 5:15am candle is lower than 100 AND higher than 99,2 (in other words between 99,2 and 100) CCI (60) of the 5:15am candle is lower. Forex Morning Trade System comes with one custom indicator called FxMorningTrade. To remove an indicator from the chart, one has to execute its context menu commands of Delete Indicator or Delete Indicator Window, or the chart context menu command of Indicators List Delete. Both, momentum and, cCI are standard indicators available in every MetaTrader, so you dont need to install them. Result of the day: 40 pips The Momentum at 7:15am candle was above 100, but CCI was below 0, so we dont have conditions to go either long or short.