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Forex Trading System Indicator mt4 Trend Strategy Chifbaw Os
Below is a first illustrated example of the power of the Chifbaw Oscillator and how it works. The oscillator is represented at the bottom of the chart with green and red bars that oscillate around the zero line. When the price is in an uptrend, the oscillator shows green bars. When the price is in a downtrend, the oscillator shows red bars. When the oscillator changes sign, it is a signal to enter the market (trend changes direction). If the oscillator changes sign from positive (green bar) to negative (red bar), one has to sell. If the oscillator changes sign from negative (red bar) to positive (green bar), one has to buy. The recommended stop loss level is the low (if buy signal) or the high (if sell signal) of the bar that has generated the change in sign (see lines with the word “SL” on the chart). Other stop loss approaches can be as well used as for instance, instead of taking the low/high one can take the open/close. Another approach is to have a fixed stop loss size depending on the time frame. Stop loss management is an important part of the money management. The exit strategy is discussed lower.
On this daily chart of the AUDUSD currency pair, we can see that over a period from September to November 2011, our oscillator gave excellent signals and would have generate up to +3500 pips or more than a +1000 pips per month. This is truly amazing!
Applying indicator Chifbaw Oscillator note that it is most effective when used in tandem with the levels of support / resistance and candlestick patterns, that is, additional signs, that signals the favorable moment for the enter the market. It greatly increases the chances of profitable trade spend, but it is not 100% unique and sufficient indicator for a decision on make a Buy or Sell.
In the archives Chifbaw_Oscillator.rar:
Chifbaw_Oscillator.ex4
Chifbaw_https://www.tradebit.com
Chifbaw Oscillator User Guide.pdf
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