forexcakemix689

Full Forex Trading System- BANOFFEE PIE V1- by FOREXCAKEMIX

Full Forex Trading System- BANOFFEE PIE V1- by FOREXCAKEMIX


Welcome, and thank you for viewing, and hopefully using, my indicator.

This is a trend following system.

This automatic recipe involves 2 confirmation/trend indicators, and a volume indicator.


INGREDIENTS WITHIN THE SYSTEM:

Confirmation Indicator 1- ZEROLAG AND EMA CROSS AUTOMATIC INDICATOR (18,18)

Confirmation Indicator 2- TRIX (9)

Volume Indicator- EXPLOSION (150,20,40,20,2)

Optional Indicators :

Would need to add to charts manually, alongside this indicator to make the full & complete, fresh &tasty 'BANOFFEE PIE TRADING SYSTEM' as per image.

Continuation Indicator- FOREXCAKEMIX MACD_VXI (13,21,8): can be found in TVs Public Library

Exit Indicator- FOREXCAKEMIX QQE (14,5,4.236): can be found in TVs Public Library


Indicator rules:

Kijun- Long signals are given only if the price (close) is above the base line regardless of anything else. Short signals are given only if the price (close) is above the base line regardless of anything else.

ZeroLag and EMA cross- This part of the indicator involves a ZeroLag and EMA cross. The default settings are 18,18.

The TRIX is there to confirm the signals given from the ZeroLag and EMA cross, and signals are only given when the TRIX agrees with the other elements, for example for a long trade the TRIX would be required to be above 0.

The Volume Indicator- For long trades, signals are given if the current period is green and above the explosion line. For short trades, signals are given if the current period is red and above the explosion line.


Risk Management/ Trade Entry and Exit Example:

For each trade, the SL (Stop Loss) will be set at 1.5 x ATR and the TP (Take Profit) at 1 x ATR.

Each trade to be split into two halves. Once the TP is hit in a successful trade, to move the Stop Loss of the remaining half of the trade to the break even point and then use the QQE to exit. If price has remained below the baseline and the rest of the system (excluding volume ) agrees.

The maximum risk per trade is 1% of the account.

ATR (14)- default setting.

Trailing Stop Loss- This is optional and could be set at 1.5 ATR once your trade hits a certain (pre-defined) price after the TP is hit, e.g after 100 pips profit.


Editable Settings that can be found within the 'Settings Panel' of the indicator are:

  • Kijun Period
    Zero Lag Length
    TRIX Length
    TRIX Value Multiplier
    Explosion Sensitivity
    Explosion FastEMA Length
    Explosion SlowEMA Length
    Explosion BB Channel Length
    Explosion BB Stdev Multiplier

Chart Timeframe: Daily Charts

Suggested Currency Pairs:

AUDCAD
AUDCHF
AUDJPY
AUDNZD
AUDUSD
CADCHF
CADJPY
CHFJPY
EURAUD
EURCAD
EURCHF
EURGBP
EURJPY
EURNZD
EURUSD
GBPAUD
GBPCAD
GBPCHF
GBPJPY
GBPNZD
GBPUSD
NZDCAD
NZDCHF
NZDJPY
NZDUSD
USDCAD
USDCHF
USDJPY





Enjoy,
Peace & Love,
FOREXCAKEMIX
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