Before start trading using this system or any
other systems it's
highly recommended to make back testing for the system, then trade using
a demo account for enough time before start trading with your
real money.
MT4 gave us a very interesting tools for
back testing, you can apply your indicators and
make trades for any period of time want, and apply orders
as you trade live, then get your report and analyze the
trades with your profit and losses before you trade with a
real money, check this
page to learn how tor configure your MT4
for back testing.
This simple system is working
based on an indicators pattern, when you recognize the pattern
in the indicators, it'll be easy to identify the entry and
exit points, this system is using CCI as a main indicator to
recognize the trend.
Configuring indicators
correctly could give you the necessary light about the next
trend, it's very important to the trader to be in the trend in
the right time, indicators like CCI, MACD and stochastics give
us a small hints like divergence that help us to know when the
next trend will start.
In this system CCI used in two values: 6
and 14, you can download the indicator for MT4 from here, The patterns come in many forms, we'll talk about the
most important one which called ZLR or (Zero Line Rejection)
the main idea about this strategy that you take the trend from
the second and most strong wave, in the first there is a first
small wave, then a small pullback like we learn in the elliot
wave, and when it starts the second wave we should there in
the right time to take the trend to the end.
The roles as
following:
ZLR
1)
Trend SHOULD BE in place. At least 6 bars or more.
2) CCI above 100 during the trend.
3) CCI dips below 100. Can go
to ZL, even cross it.
4) Chop
zone is Blue or Brown for at least 3 points or more in the
trend direction.
5)
Sidewinder is yellow or green.
6) CCI points change between bars must be +15
to +20 (Green or Blue).
7) If
last CCI bar closed at 90 and the next is at 110 the CCI point
difference would be +20.
8)
This is called the CCI point difference OR CCI points.
9) CCI turns up and stays up
with 20secs to bar close. This is the trigger.
10) CCI bar must not close
above 120. That would be chasing a trade.
11) LSMA is NOT used.
Read
more about Woodie trading system using the following
url:
http://www.woodiescciclub.com/
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