Definitely not the holy grail, instead try this for good success, Amazingly good on the 4 HR chart. , I have tried for a long time and find it good. Please try this system
whatever gives so many buy sell signals is not suited to average human mindset.
it is ok for binary option scalpers who end up making no money.
once you a signal the mind of ordinary trader needs so much time like 20 bars or 50 bars to come to conclusion.
go and see a good system like sylvain vervoorts band break system. trade it on M15 or H1 or H4 or Daily.
You cant blindly go with any system.
you need to employ one solid filter.
ONE HAS TO THINK UNCOVENTIONALLY or go with crowd of loosers.
Two ideas I can give here.
1.if trading on a 15min chart,use 30 min chart to filter M15 signals.
2.Trade long only if MA50 line slope is upwards. Trade short only when MA50 line slope is downwards.
I strongly bet that you go searching a 1000 trading systems than try to implement two solid hints.
My teacher said
master two systems 1000 times than look at 1000 systems one time.
What is an indicator? its an indication some thing is going to happen in this area.
It dose not say go/stop or any other thing. When are you guys going to learn the basic
of trading and stop asking " Dose it Re paint" If it repaints the trade has not finished yet.
Do you know what the banks are doing? if you do let me know... So learn the basic on
trading and you will not be asking this question.
Stop loss depends on the time frame you trade, however I believe in " What you see is what you get" and generally hurry to book the profits and look for a new trade. My intraday targets are mostly achievable. Many would advice to put it just below the recent swing, Therefore SL should be ones personal choice, according to their trading style.