The strategy is decent but highly dependent on market conditions. In news or macro events, it does not work. Maybe with a fundamental filter it will improve.
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The strategy is decent but highly dependent on market conditions. In news or macro events, it does not work. Maybe with a fundamental filter it will improve.
I was combining it with harmonic patterns and there seems to be synergy. MFI crosses 50 just when the formations are completed. Interesting.
You could set up a Telegram group for those of us who use this system, so we share tickets in real time and learn faster.
Beware of exotic pairs, this strategy breaks. A lot of spread and erratic movements. It works best with majors like GBP/USD, EUR/USD.
It wouldn't be bad if you put together a PDF with all the detailed rules. It's hard to follow them just by reading loose fragments in the thread.
I added a 30-pipe stop trailing and improved my success ratio quite a bit. It�s not just getting in well, it�s got to go well too.
Your system gave me +190 pips this week. I�m surprised, although I know it won�t always be so. Still, thanks for sharing it.
Do you realize that with those rules you're chasing the price? If all the indicators are already the same color, you're probably getting late.
Proposal: Why don't we create a MT4 template with everything already configured? It would be easier for new ones to apply the strategy correctly.
MFI is not very used and that makes it unpredictable at times. If it works, well for you, but I personally prefer indicators with more volume of studies behind.