The Vortex indicator consists of two oscillators measuring both an upward and downward price movement. The Vortex indicator derives its inspiration from the natural flow and vortex formation in water which usually occurs in the rivers. This Vortex Indicator System can be used to identify the start of a trend and subsequently confirm trend direction. A simple cross of the two oscillators is used to signal the start of a trend. After this crossover, the trend is up when +VI line (Green) is above – VI line (Red) and down when – VI (Red) is above the +VI (Green). Second, a cross above or below particular level (here 1.05) can signal the start of a trend and this level can be used to confirm trend direction. In this trading system i have add a filter at the level 1.05 in order to improve the performance of the vortex. In fact, with this filter, the vortex is much improved in forecast of the market. Time Frame : H1, H4 Metatrader MT4 Indicators: => Buy-Sell => Vortex Indicator (28 period); => Megatrend (89, period). Trade Rules for Vortex Trading System Condition: VM signals above 1.05 level (dotted red line). Buy Entry When VM+(Green) crosses above VM-(Red) the trader should open a Buy order and Megatrend line is blue in color. Sell Entry When VM-(Red) crosses below VM+(Green) the trader should open a Sell order and Megatrend line is red in color. Stop loss X pips above or below Dot line (blue and red of Buy- Sell Indicator). X Pips = Spread of The Curreny Pair Being Traded
A very handy & simple Renko EA for traders who love to trade Renko Charts. It comes with the following features => Open A Buy Trade After ‘N1’ Consecutive Bull Candles => Open A Sell Trade After ‘N2’ Consecutive Bear Candles => Exit a Buy Trade After ‘M1’ Consecutive Bear Candles => Exit a Sell Trade After ‘M2’ Consecutive Bull Candles => Option to use Fixed Take Profit & Stop Loss => Option to Activate/Deactivate Opposite Signal Close Feature => Option to Activate/Deactivate Trailing Stop This EA can also work on start MT4 charts using the above features. This fantastic EA is being offered at a very low price of $35. If you would like to get this EA further customized as per your strategy then it could be done at an additional agreed cost.
To trade Forex through fundamental analysis based on News, you have to check how economies all over the world are doing based on their macroeconomics data (such as GDP, employment, consumption data, inflation…), watching closely the countries of the currencies you are trading the most. You must remember that certain news affect a large basket of Currencies while a few have effect on relatively lower number of currencies owing to the localized impact of the News. It is always advisable to avoid bad surprises by regularly check on when high volatility data are expected to be released to enable you to manage your trades more efficiently. Certain Events which have major impact after their release are listed below:
EIA Crude Oil Stocks ChangeThe EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivatives, and it’s released by the Energy Information Administration(EIA) . This report tends to generate large price volatility, as oil prices impact on worldwide economies, affecting the most, commodity related currencies such as the Canadian dollar. The level of inventories influences the price of petroleum products, which can have an impact on inflation. Interestingly, it has a limited impact among currencies, this report tends to affect the price of oil itself, and, therefore, had a more notorious impact on WTI crude futures. If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected. If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected. Currencies/Commodities Impacted By This News: CAD, Oil, WTI crude futures
Nonfarm Payrolls– USANonFarm Payrolls report measures the number of jobs added or lost in the US economy over the last month, in all non-agricultural business like goods, construction and manufacturing companies in the US . It is released usually on the first Friday of each month, at 8:30 EST. It is published by the US Department of Labor. Note: The figure released is the change in nonfarm payrolls (NFP), compared to the previous month, and is usually between +10,000 and +250,000 during non-recessional times. The monthly changes in payrolls can be extremely volatile (This is Major News Event & Must Be Paid Proper Attention!) , due to its high relation with economic policy decisions made by the Central Bank. The number is also subject to strong reviews in the upcoming months, and those reviews also tend to trigger volatility in the forex board. In short, a high reading is seen (caution: watch out for other major events, if any, in parallel) as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish), although previous months reviews and the unemployment rate are as relevant as the headline figure, and therefore market’s reaction depends on how the market assets them all. While the overall number of jobs added or lost in the economy is obviously an important current indicator of what the economic situation is, the report also includes several other pieces of data that can or have the power to move the financial markets: