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PLOT ADX(14) ON CHART FOR YOUR CURRENCY PAIR. Pivot points - 25% rule
IF...
MACD + Fast Stochastic
1)ADX is below 20 - USE OSCILLATOR BASED SYSTEM(RSI,STOCHASTIC ETC.)
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Black Magic system
2)ADX is above 30 - USE TREND FOLLOWING SYSTEM(MOVING AVERAGE,MACD ETC.)
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Black MACD simple strategy
3)ADX is at 45 or above it - BOOK PROFITS.(Wait for new entry)
4)ADX IS RISING FROM LEVEL BELOW 18 AND THEN GOING ABOVE 23 - USE TREND FOLLOWING SYSTEM. SuperSar strategy
5)ADX DECLINING FROM LEVEL ABOVE 30 AND THEN GOING BELOW 27 - USE OSCILLATOR BASED SYSTEM.
A Poll for Live Traders
The above mentioned method w ill help you select right system at right time. This system selection technique w orks very share your live experience or
well according to my experience. read what others have to say.
I want to tell you again that this technique only helps to select right system at right time and it is not a holy grail.
I hope everyone will like this system selection technique and use it to improve their trading.I use this for trading in stocks
and hope it w ill w ork w ell in the forex market. Who's online
A GOOD SYSTEM NEVER FAILS IT FAILS ONLY BECAUSE IT IS USED AT A WRONG TIME. There are currently
online.
Happy trading,
Regards,
Arsalan.
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As an update I'm posting a screshot and explanations to it, to help everyone to understand this great method from
Arsalan.
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10/19/2010 Advanced technique #9 (System Sele…
Block #1:
Block #2:
The market is trending, w hich is confirmed by ADX, it moved past 20 and is rising.
What indicators and systems to use? Use trend follow ing indicators obviously:
- MACD is good.
- Moving averages would be good.
Unlike now RSI and Stochastic - they will remain in oversold /bought zones (depending on a trend) for a long time.
Unlike also Bollinger bands - the price won't obey its boundaries anymore.
Now , ADX reaches 45 - it is time to think about collecting or protecting profits. The trend is mature. We look for the clues
from our trending indicators. In this case the earliest signal is received from MACD histogram (circled in purple), w hich
changes color from red to green. Later confirmation for those w ho missed, comes from MACD lines crossover; and even
Stochastic and RSI finally come out from oversold zones (small letter "c" - confirmation - on the chart).
When traders are out the trend begins to weaken, ADX starts to fall, price retraces upw ards.
Block #3:
- ADX is falling, w hich means the trend has gone, at least temporarily.
We don't know whether it is going to continue or not, so w e seek advice from indicators, but not a single one - a group of
them.
So, later in block #3 we get a strong Sell signal from all 4 indicators:
- price meets BB and retreats,
- RSI overbought,
- Stochastic overbought,
forex-strategies-revealed.com/…/syst… 2/4
10/19/2010 Advanced technique #9 (System Sele…
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http://forex-strategies-revealed.com/
‹ A dvanced system #8-a (4 CA NDLES STRA TEGY - up A dvanced strategy #10 (Trend Line Trading Strategy) ›
BETA )
very insightful.
could u post some charts to illustrate?
Done!
»
Hi,
There is no need for any visual explanation through chart because all you have to do is plot adx for your currency pair
and look for the level of adx if it is 30+ then use trend follow ing system and likewise you can check at what level is adx
and then decide w hat kind of system to use whether trend following or oscillator based and then just use your
systems buy sell signal to trade.I have clearly explained at what level what kind of system to use in my strategy.
I think there is no need to explain this method through chart because it is so simple to understand and apply.
Happy trading,
Regards,
Arsalan
Andy
Hi Arsalan,
It seems to be a very good explanation for using an appropriate system.It is indeed very insightful,and thank you very
much for this guidance.
venkats.
Arsalan
hello,
great system. please i'm not very conversant with the uses of ADX. please can you explain to me its uses. because
w hen i checked it on he chart i noticed 3 different lines.I w onder which line w ill I consider.
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10/19/2010 Advanced technique #9 (System Sele…
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