Click here to download my template http://www.savefile.com/files/907734 .
Save this template at this location on your pc/laptop, example : c://--> Programme Files--> Straigholdtrader---> Templates.
Then, download this additional indicators to make sure the template is complete as shown above.
Click here to download the additional indicators http://www.savefile.com/files/907750 unzip the file. Copy and paste those files at this location: example : c://--> Programme Files--> Straigholdtrader---> Expert---> Indicator.
New: Simple explaination for this Template in Bahasa/ Malay. Click here to download
http://www.savefile.com/files/914474
How to use/read the templates?
8 EMA (black, dotted)
12 EMA (cyan)
24 EMA ( blue)
hence the name) 72 EMA (black)
Apply to H1 (conservative) or M30 (aggressive) chart only and remove the grid for clarity.
Basic System Rules
Explaination refer to:
8 EMA (yellow, dotted)12 EMA (violet)
24 EMA (cornflower blue,
hence the name) 72 EMA (khaki)
There are two kinds of entries using this system: pullback (conservative) and initial (aggressive). The pullback entry, which is the heart of this system, enters the market when conditions are quiet and after price has settled into the area between the 8 and 24 EMAs. The timing of this entry can either be mechanical (using either the 12 or 24 EMA) or discretionary in accordance with the trader’s judgment on whether price is moving back in the direction of the trend.
The initial entry aims to capitalize on the first movement of a new trend, defined by a thrust beyond the 72 EMA that is confirmed by a turnaround in the shorter EMAs. It is more risky because there is always the possibility of a reversal. For this reason, it is probably better to use the M30 chart for this type of entry. Moved up by 30 minutes, one has the opportunity to take a small profit or scratch a trade at or near break-even if a reversal presents itself.
Only the H1 and M30 charts should be used with the Cornflower template. Shorter time periods will lead to whipsaws, whereas longer time periods lag behind the market too much.
The following rules are valid no matter the time of day. The quiet of the Asian session actually provides some excellent opportunities for entry, which is a boon for the trader whose day job makes watching the market during London or New York an impossibility.
Pullback (conservative) entry – use hourly chart
·8, 12, and 24 EMAs are all above (long) or below (short) the 72 EMA
·Price has pulled back to the 12 or 24 EMA (the more aggressive the trend, the more shallow the pullback.
·Enter for 20 pips, or hold depending on trader’s judgment of the strength of the trend.
Initial (aggressive) entry – use M30 chart with identical indicators
·Price has moved with authority above or below the 72 EMA. By “moved with authority,” I mean a candle that has closed near the top of its range.
·8, 12, 24 EMAs are all pointed in the direction of price, and preferably already stacked in a perfect order (8 over 12 over 24 for long, 24 over 12 over 8 for short).
·Enter for 20 pips and hold if the thrust develops into a real trend.
Using hourly and half-hourly charts, 20 pips is a realistic initial profit target, especially if one is trading GBPUSD, GBPJPY, or EURJPY. Even the other major pairs should yield this much on a properly gauged signal. By “major,” I mean EURUSD, USDCHF, AUDUSD, USDJPY, NZDUSD, and USDCAD. With the possible exception of EURGBP, any pair that involves two of the seven major currencies should be tradable with this system. Cornflower is particularly well-suited for entering long positions on the yen crosses (carry trades).
Entries may be timed more precisely with a 5M timeframe
Click here to read more about Corn flower:
http://indicatorfx.blogmas.com/2007/07/01/cornflower-hourly-system/
To learn how to read Bollinger Band click here:
http://indicatorfx.blogmas.com/2007/06/28/bollinger-bands/
Just sharing, good luck..hehe
Posts
0 comments:
Post a Comment