BUY FXO Forum Shares
1316
Shares in the BANK:
We BuyWe Sell
$1.8773$1.9354
Page 1 of 4 1234 LastLast
Results 1 to 15 of 59

Thread: The River

  1. #1
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default The River

    I would like to start by saying that this is not my system. I got it from another forum from a guy called Power Trader and I had success with it. I only use it for GBP/USD and GBP/JPY but it has been profitable on all other pairs but my favorite is the GBP/JPY. What I did was to add a few indicators to help me exit. I will start by posting the original system then in the next post I'll post my modifications. In this post there's also a template attached. For the ones who doesn't know how to use it in MT4, just go to program files=>MT4 directory=>templates and save it there. Then in your MT4 window, you have templates, click on it and choose the template.
    --------------------------------------------------------------------------------

    The River is a method based on Rob Booker's 5/13/62 which has always been popular, but with a few twists. There have been many trading this method in different ways because it works. Understanding Fibonacci and trend lines will increase your success with this method

    River Trade

    Currency: GBPUSD, GBPJPY
    Timeframe: M15

    Indicators:
    1- Envelope
    2- 62SMA
    3- Non lagging ZIGZAG_V2

    1- Create an envelope, period 62, MA method simple, at close, with 0.05 deviation.
    Upper color: Blue; Lower color: Red

    2- Create a 62 SMA at close, and add the levels -30, +30, --60, +60, -90, +90
    MA color Black; Level color: Gray

    3- Insert Non lagging ZIGZAG_V2 indicator, with price=0, length=100 and PctFilter=2.0. Use it to help set your Fibs


    Entry: You should buy when the first candle forms completely (High, low and close) above the upper band (Blue) of the envelope, then enter at the beginning of the next candle or sell when its below the lower band (Red), with the same entry rule.

    Take profit:
    1- Use Fib levels, support and resistance, etc
    2- Look for reversal candles and formation.

    Stop loss:
    1- Use Fib levels, support and resistance, etc
    2- Use the other band, if youre long, set the SL at the lower band, if youre short set SL at the upper band
    3- SL of 50-60PIPs or 5 pips below or above other band. Whatever comes first.


    Currency: GBPUSD, GBPJPY
    Timeframe: 15 min and for long term D1

    Carry Trades
    When: Use it only for long positions in high yield currencies, to take advantage of the swap rates. Ex: long position in GBPJPY.

    Settings: The same as above

    Enter: Buy when the first candle forms completely above the +90 level of the 62SMA, or Sell when the first candle forms completely below the -90 level of the 62SMA

    Take profit:
    1- Use Fib levels, support and resistance, etc


    Stop loss:
    1- Use Fib levels, support and resistance, etc
    2- SL of is on the other side of the River
    Attached Files Attached Files

  2. #2
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Now for the modifications. I don't use Fibs because I don't really like to draw them. I'm using the fmm_pivots indicator which draws many levels and you will notice that the market really tends to slow down or reverse at these levels. I also use the HAS bar indicators to try to notice any market reversal. I also use them for entering in the market. You'll notice that these indicators will show multi timeframes trend. So if I get a long for example and the the second row from the bottom is blue, that would tell me that the 30 min timeframe trend is upwards. You get the idea. I don't necessarly need them to be in place to take a trade. Just confirmation. Attached are the indicators and the second template.
    P.S: The HAS bar indicators do not repaint the past although they have a refresh problem. All you need to do before you enter a trade after the closing of the candle is to switch timeframes and you'll get the right reading.
    Enjoy...sm_win
    Attached Files Attached Files
    Last edited by aminhakim; 05-31-2007 at 08:10 PM.

  3. #3
    Bullish
    Join Date
    Jun 2007
    Posts
    91
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    thank u brother i will try it

  4. #4
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by dangerous2010 View Post
    thank u brother i will try it
    You're most welcome. For any questions refer to me and I'll help as much as I can.

  5. #5
    Director of FXOpen Aus FXOjafar's Avatar
    Join Date
    Apr 2007
    Location
    Sydney
    Posts
    3,323
    FXO Shares
    50
    FXO Bonus
    1.463
    Thanks
    2
    Thanked 79 Times in 51 Posts

    Default

    This looks like a really nice system bro. I'll give this a try on demo for sure. Thanks for posting it.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  6. #6
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by RebateFX.com View Post
    This looks like a really nice system bro. I'll give this a try on demo for sure. Thanks for posting it.
    Enjoy it.

  7. #7
    In Profit
    Join Date
    Jun 2007
    Posts
    116
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Why don`t you try to spot a trend reversal using an MACD crossing? It`s very precise, and useful!

  8. #8
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by borovic View Post
    Why don`t you try to spot a trend reversal using an MACD crossing? It`s very precise, and useful!
    Good idea. Any input suggestions for 15min timeframe?

  9. #9
    Bullish
    Join Date
    Jun 2007
    Posts
    54
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by aminhakim View Post
    1- Create an envelope, period 62, MA method simple, at close, with 0.05 deviation.
    Upper color: Blue; Lower color: Red
    Excuse me sir
    But no platform accept to change deviation to less than 1
    it just can be changed to 2 or 3 or numbers like that
    what can i do now?

  10. #10
    In Profit
    Join Date
    Jun 2007
    Posts
    116
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Use MACD!!! It`s just better, that`s why it`s more popular.....

  11. #11
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by Mr_smart View Post
    Excuse me sir
    But no platform accept to change deviation to less than 1
    it just can be changed to 2 or 3 or numbers like that
    what can i do now?
    Dear Mr. Smart
    Check the attached screenshot I provided. If you weren't able to do it, I suggest you use the templates I provided.
    Attached Thumbnails Attached Thumbnails Enveloppe.JPG  

  12. #12
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by borovic View Post
    Use MACD!!! It`s just better, that`s why it`s more popular.....
    Thanks for the info. I'm trying it as we speak.

  13. #13
    Bullish
    Join Date
    Jun 2007
    Posts
    54
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by borovic View Post
    Use MACD!!! It`s just better, that`s why it`s more popular.....
    Excuse me sir , but , aren't we talk about moving average?
    i think that deviation is an option of moving average lines !!!

  14. #14
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by Mr_smart View Post
    Excuse me sir , but , aren't we talk about moving average?
    i think that deviation is an option of moving average lines !!!
    Dear Mr Smart.
    If you're addressing me notice that I wrote in the first post that I'm not the author of the system and I only made some modifications on it.

  15. #15
    In Profit aminhakim's Avatar
    Join Date
    May 2007
    Location
    Lebanon
    Posts
    134
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    But for info we're talking about the envelopes indicator included in MT4.

Page 1 of 4 1234 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Disclaimer
2005-2017 © FXOpen All rights reserved. Various trademarks held by their respective owners.

Risk Warning:: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen does not provide services for United States residents.

Join us