Andrew Forex Trading System
My trading system ″Andrew Forex″.
Currency pair: any, but better cross-pairs that give good trends.
Time frame: any, but usually 4-hour
Indicators: supertrend, nonlagdot (value: 20)
Entry rules
Buy: a dot of Nonlagdot changes from red to blue. At the same time dots of nonlagdot should be above the Supertrend line. Also the Supertrend line should be green. A position should be opened by execution of a pending order. The order is placed on the upper point of the market extremum, which is formed after the first rebounce of the market downward (when closing price is lower than previous one). That is one should wait untill the price has exceeded the point of extremum, and only then buy. However, if the price fails to exceed the level of the point of extremum, one should wait. After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to red, the order shoud be canceled.
Sell: a dot of Nonlagdot changes from blue to red. At the same time dots of nonlagdot should be under the Supertrend line. Also the Supertrend line should be red. A position should be opened by execution of a pending order. The order is placed on the lower point of the market extremum, which is formed after the first rebounce of the market upward (when closing price is higher than previous one). That is one should wait untill the price has exceeded the point of extremum, and only then sell. However, if the price fails to exceed the level of the point of extremum, one should wait. After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to blue, the order shoud be canceled.
Market entries without placing pending orders are not recommended.
Pending orders for market entries are placed with the regard of the amount of the spread and additional 3 pips.
Exit rules
I exit when:
1. The price touches the Supertrend line, or
2. The Supertrend line changes its color, or
2. The price touches the first line of the Fibonacci fan. The Fibonacci fan is constructed from the point of the market extremum at the beginning of its movement and up (or down) to the opposite extreme point of the current market, that is, from the bottom to the top of the movement (when buying) and from the top of the movement to the bottom (when selling). It is important not to confuse: the Fibonacci fan is constructed not from the market entry point, but from the point of the beginning of directional movement or trend (up or down). Fibonacci fan line, which is closest to the price, serves as the exit level. And the exit order should be moved on this line.
Stop-loss is set:
1. On Supertrend line, or
2. Below near price swing, or
3. Under (over) the closest extremum of the market, which exceeds the Supertrend line in the opposite direction.
Stop-loss order is placed with the regard of the amount of the spread and additional 3 pips.
The following money management is recommended: either not more than 10% of the capital per trade, or a progressive system (e.g. Fibonacci or semi-martingale). Martingale is not recommended because it is far too risky in case of the lack of capital after several consecutive losing trades.
Adding is recommended solely to profitable positions after the regular change of Nonlagdot color in the direction of the current trend.
Best regards, Andrew Forex
Currency pair: any, but better cross-pairs that give good trends.
Time frame: any, but usually 4-hour
Indicators: supertrend, nonlagdot (value: 20)
Entry rules
Buy: a dot of Nonlagdot changes from red to blue. At the same time dots of nonlagdot should be above the Supertrend line. Also the Supertrend line should be green. A position should be opened by execution of a pending order. The order is placed on the upper point of the market extremum, which is formed after the first rebounce of the market downward (when closing price is lower than previous one). That is one should wait untill the price has exceeded the point of extremum, and only then buy. However, if the price fails to exceed the level of the point of extremum, one should wait. After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to red, the order shoud be canceled.
Sell: a dot of Nonlagdot changes from blue to red. At the same time dots of nonlagdot should be under the Supertrend line. Also the Supertrend line should be red. A position should be opened by execution of a pending order. The order is placed on the lower point of the market extremum, which is formed after the first rebounce of the market upward (when closing price is higher than previous one). That is one should wait untill the price has exceeded the point of extremum, and only then sell. However, if the price fails to exceed the level of the point of extremum, one should wait. After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to blue, the order shoud be canceled.
Market entries without placing pending orders are not recommended.
Pending orders for market entries are placed with the regard of the amount of the spread and additional 3 pips.
Exit rules
I exit when:
1. The price touches the Supertrend line, or
2. The Supertrend line changes its color, or
2. The price touches the first line of the Fibonacci fan. The Fibonacci fan is constructed from the point of the market extremum at the beginning of its movement and up (or down) to the opposite extreme point of the current market, that is, from the bottom to the top of the movement (when buying) and from the top of the movement to the bottom (when selling). It is important not to confuse: the Fibonacci fan is constructed not from the market entry point, but from the point of the beginning of directional movement or trend (up or down). Fibonacci fan line, which is closest to the price, serves as the exit level. And the exit order should be moved on this line.
Stop-loss is set:
1. On Supertrend line, or
2. Below near price swing, or
3. Under (over) the closest extremum of the market, which exceeds the Supertrend line in the opposite direction.
Stop-loss order is placed with the regard of the amount of the spread and additional 3 pips.
The following money management is recommended: either not more than 10% of the capital per trade, or a progressive system (e.g. Fibonacci or semi-martingale). Martingale is not recommended because it is far too risky in case of the lack of capital after several consecutive losing trades.
Adding is recommended solely to profitable positions after the regular change of Nonlagdot color in the direction of the current trend.
Best regards, Andrew Forex
- Attachments:
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Main-1.png, 115 KB -
Fibo-1.png, 121 KB
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Andrew Forex System.zip, 3 KB
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Replies to This Discussion
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Permalink Reply by FXWizard on -
Nice strategy Andrew, would you mind to share the indicators? Or at least post the links where I can download them? Thanks in advance.
Regards,
FXWizard
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Permalink Reply by FXWizard on
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Indicators and template for my system
Of course, I can share.
You can download the archive file (with the indicators and template inside) on the following link:
My trading system indicators and template
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Permalink Reply by FXWizard on
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Thank you very much, I've been looking for the Supertrend indicador since 2003, is it the same that appears at ProRealtime, isn't it? Anyway I'll test your strategy and I'll tell you my impressions.
Regards,
FXWizard
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Permalink Reply by FXWizard on
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Seriously? Many different versions out there...should have found at least one in the last 6 years.
Have to say it is one the better indicators out there.
Nice concept Andrew
nolagdots look like heilken ashi to me
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Permalink Reply by FXWizard on
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The earlier release I have found is July 2008:
http://codebase.mql4.com/3959
Anyway I think is a great indicator. Also I agree with you: NoLagDots resembles Heiken Ashi.
Regards,
FXWizard
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Permalink Reply by FXWizard on
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The nolagdots seems to be very lagging
The point count is from the turn of color on the opening of the new price bar.
This indicator does seem to be different than the supertrend Andrew posted for his system. I am not sure if this is just a different version of the same indicator or why it was posted. Sure looks like every other indiactor though - lagging.
Does it perform better in sideways markets though or does the chop eat it alive? From my experience it is usually trending markets indicators like these perform better in. - Attachments:
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2010-01-30_175807.png, 11 KB
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Permalink Reply by jose miguel martinez on -
hello friend, could rise again indicators and template because the file is not available .... thanks.
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Permalink Reply by FXWizard on
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Hi Andrew,
I would kindly like you to assist me to get this clear. This also can benefit the other users to clearly understand the strategy you have developed.
I am targeting USD/CAD to test your system. I guess so far it's the best cadidate as the candels arecrossing the supetrend line and the dots are blue.
I think the 1st rebound is about to occure and I will set my buy stop at 1.0366 with the regard of 7 pip spread.
I would like have your assistance on this one.
Thanks.
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