Hello people!
I bring something really great to share!
Just a little bit of my story. I have been in the market for about 8 years, most of my operations are based on trend lines, Fibonacci and candle patterns in the 5min and 15min T.F. During that time as is the case with most I believe, I have always tried to develop systems to optimize my trading. So after much analysis on the fundamentals behind the price movement I came up with a really logical, mechanical and lucrative system, but unfortunately very restrictive too, because to increase the % of success I ended up sacrificing the number of opportunities I get in every Par, at least in Forex markets, since in the stock markets the system works better. You will see why!
Well, with that in mind I`ll share the system here to see if some good soul could make a EA to help us to spot this oportunity. Because with a good EA we can look to several Pars and several timeframe and sure we get a good number of oportunity in a week. And if looking for signals with renko charts, better. The system is pretty simple and use conventional indicators so I guess its easy to code, but I cant code myself. The idea behind the system is this:
We all hear that the trend is our friend and the best way to have the market going in our favor. We also know that it is often difficult to determine if the price will only retrace or will have a total reversal. So, to help us determine whether we are facing a retrace or a reversal, we will use a volume indicator to look for divergences with the price and thus determine the strength of this opposite movement. The indicator is OBV.
I know, I know. The volume in forex is not real, but still this system Works with a tick volume chart. I use this system for the index and future dollar market here on the Brazilian stock exchange and it works perfectly since the volume data is real. And the system work even better with Renko charts, but we have to be really speddy to catch some movements. Then the EA would be a great help to catch them.
So if someone could code an EA for the MT5 would be great, since this way we could use this system in an environment where we have the actual data of the volume and so the system would have an even greater assertiveness. But as I say before, the system workin Forex too and we could get the forex Pars in MT5 too.