TA Forex Trading

I should also mention that the BUY SELL indicator offers multiple options to get back in on a trend after it's started. You'll notice that during a strong trend, there are multiple signals along the way that offer re-entry points. So if you want to get in, take profits, and then wait, you'll usually get another signal down the line. You can also use the additional signals along the way to add to a winning position if you like.

Many ways to skin the cat...

Buy dips on EU...targets over 1.20 imo.

3 higher time frames are still bullish so it's possible ForexTrader. But considering the monthly levels we're sitting at, I'd have to wait on a significant retrace to buy dips. But markets can run to extreme levels before turning so you could be right.

PET-D Buy Sell Indicator

Ok gang, this is just a preliminary version...still testing.

Basically, what this indicator does is follow the Steve Primo requirements for signal candles. For bull candles, the candle has to close in the top 25% of it's range. It has to be above the EMA15 and it has to be above the SMA50. Plus, it has to have a higher close than the candle that came before it.

For bearish, it has to close in the lower 25% range. It has to be below the EMA15 and it has to be below the SMA50.

Obviously, not every signal will be a buy signal. It's hard to program an indicator to see what we see when we look at a chart. The indicator can only follow a specific set of program rules and generate a signal once the parameters are satisfied.

During a general uptrend, you want to ignore any false or sporadic down signals that may occur. Just the opposite during an overall downtrend.

The best signals are the ones taken after price has pulled back to the SMA50 after a retrace from the overall trend. Once you get a new signal candle back in the direction of the larger trend, that's usually your best option to get back in on the trend.

General rules for the signal candles require that price move above the high of the bullish signal candle ON THE VERY NEXT BAR. Otherwise, the trade is negated until you get a new signal.

Reverse for bearish signals. Once a red signal arrow pops up, wait for price to move below the signal candle ON THE VERY NEXT BAR. If it doesn't, don't take the trade.

Here's the indicator I have at this point. I'll probably be making revisions to it but I'll post the revisions as soon as they become available.

I can't stress this enough...DON'T TAKE TRADES BASED ON THE INDICATOR ALONE! You still have to look at the overall trend. For example, if the hourly, 4 hour, and daily charts are all bullish, don't take a bearish trade signal on the 15 minute chart of the same pair. Wait for the 15 minute chart to turn back in the direction of the larger trend and look for a signal candle there that matches the larger trend. Go with the market flow.

I do not recommend you run this on a 5 minute chart. 15 minute is the lowest I would use. I currently run it on 15 minute, hourly, 4 hour, and daily charts so I can watch the larger trend all in one view. I've included an example view of how I look at my charts to catch the overall trend in a quick glance on each time frame.

TP on the EZ short set for 1.5365 for now.

EZ Daily Chart

Finally got back up to that TDI Wave 4 retrace target I was looking for a while back. Small 2% short entry here at the 71.6 retrace at 1.59547.