EURUSD Maverick indicator is made to predict EURUSD at around the 5min time frame, during the EURUSD LONDON trading session! Which most day traders use. It's based on existing, modified swing trading algorithm with more than 5 years in development. And it makes easily sveral pips per hour, $50 per hour on one lot even with a 0.7 spread. And much more than $50 per hour if up to 3 trades are opened at different levels.
It comes with extensive training and further tips, in direct contact with the clients, one client at a time,
Indicator works only during London trading session for day trading!
London opens at 7:00 am and closes 5:00 pm GMT
It can be used on larger time frames, beyond one day - the strategy is being developed now.
Moreover, it's safer to day trade Monday through Thursdays, and avoid Fridays, though the indiator still gets the entire day's movement right even on Fridays. This is what actual testing has shown.
Intermarket algorithm, not driven by price momentum and therefore not easily fooled!
Simple 30min bar initial check, and then 5min bar trading as long as the the two time frames agree on direction.
How to use the indicator -how to handle open losing trades
It's not always straightforward, we do get messy signals because of the various longer time frame trends that appear during the day, but 70% of the signals do work out smoothly, and there are simple ways to deal with the rest 30% that don't. For example one signal may fail to pan out resulting in a loss that you have to carry for a while, before making a decision (according to elapsed bar patterns because the market may actually revisit this level), but in the mean time you get the chance to profit from more like signals, in the same direction, so even taking a loss doesn't affect your daily goals.
The indicator doesn't repaint, it may do so for a second, but tends to settle soon back to the original signal. If a signal fails to pan out, there is a strong possibility that the market may come back to the signal level a few bars later.
This is an intermarket indicator, which looks above and beyond price momentum, and reads the market as a 'rubber band' which is constantly being sressed out or squeezed in, relative to where it should be against a set of other currencies. It's a convergence-divergence type of intermarket analysis!
There is also gap patterns and elapsed candle analysis, but this is still under study, and we can offer training on this, at this time we can train up to 3 users. These patterns will be taken into account and if possible we will put them into the code them in future versions.
Previously I was against day trading, and as you can tell most of our indicators focus on predicting medium term direction for EURUSD, or corrolation hedging strategies between 2 pairs.
This day trading indicator is based on modified algorithms of a previous intermarket matrice model for EURUSD, and has passed our preliminary requirements for a real day trading tool.
Most people prefer day trading, because it allows them to profit significanlty even on days where EURUSD will overall hardly move at all.
How I use the indicator and how we have coded the Alerts and signals:
Overall there are some modifications we can make in the future, if necessary, however this particular algorithm, albeit not perfect, is profitable
enough, making more than $100 in 3 hours, at just one lot trade size. with losses under control.
The Alerts can be used straight away, i.e. Strength or Weakness , regardless of what type of bar is developing, the true/false word is part
of further observation, which is not necessary for the first steps, so you can ignore the true/false signal.
Bullish signals are indicated as Strength Alerts
Bearish signals are indicated as Weakness Alerts
This is the ideal scenario on the 30min chart, before lookig to trade at the 5min chart.
On the 5 min chart, most of the time, when trading at just one lot, we collect the profit as soon as it reaches $15-$20.
If the 5minute signals indicate false (ie weak trend), we take profit even erlier at just $5.
But overall even these small profits are so frequent that ad up to sinificant sums, let alone if one trades at 5 lot size.
There are cases where the trade doesn't work out, or it takes several more 5 minute bars for the market to finally come to the entry level
Overall this is the first time we get involved in day trading (I used not to believe in this and find it boring) but the results are very good, so we will continue in this direction. This particular indicator is still in the first steps, we will make modifications accoridng to problems, and clients suggestions.
Overall it seems possible to make $200 per day consistently, even at just one lot trade size, which I thought too difficult, but we have yet some issues to resolve to make the code work even better. And how we could use the reading on the daily chart, all these will require many more hours of study, possibly one more year of testing and developing.
#eurusd, #day trading, #eurusd 5min, #5 min trading
