Strategy ToWave may be usefull for profitable trade on Forex market. To use this strategy you need Metatrader 4 and two indicators: ToWave indicator and TREND-MA.

Strategy is suitable for next pairs with moderate volatility: USD/JPY, EUR/USD and some crosess. Trend analisys need provide on H1 and M15 time-frames. Trade time: daily.

The principle of using indicators

The principle of using indicators

The indicator TREND-MA draws support/resistance lines. The indicator ToWave uses Elliot theory base. Look on price changes, ToWave builds extremums('resistance points'), fractals (significant point of trend).

Buy ToWave Indicator Extended customer indicator in the store selling algo trading systems
ToWave Extended An automated version of the ToWave indicator. It builds trend lines by itself for the current period and the higher period (for example, the current period is M15, and the higher period is H1) and determines entry points. It can send emails when fractals and entry point are formed.

The principle of this strategy

The principle of this strategy
  • we build H1 and M15 trends using two last fractals of towave indicator
  • trade is opened when M15 trend is broken (crossed) through resistance point (+/- 3pips) in one case - with breakthrough H1-trend (situations 1,2,4) and in other case - in direction of H1-trend (sit.3,5)
  • stop-loss is set on the last fractal of M15-timeframe (+/-3 pips)
  • trade finished when M15-trend is crossed in reverse direction

Analysis of the trades on USD/JPY

12-13.02.2015 - Profit: 132 pips
09-11.02.2015 - Profit: 49 pips
05-06.02.2015 - Profit: 98 pips
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