Angmeagn29600
01-02-2023 07:17,
Ok, it is possible to call this a modified Priscan system or maybe somebody already came up with this modified version, that knows. I am not submitting for my own credit, just something I visit and seems promising. Thanks for providing me a start, to the priscan system.
Add 3 lwma and 15 lwma to Daily chart. . Set each to use to medium price. Add parabolic sar to chart using default (or .02)
Whenever 3 crosses 15 if parabolic sar is in same direction as cross, take the transaction.
This appears to function best with gbp/usd. I've noticed that the smaller time frames appear to work for smaller profits but have more negative trades.
The below is data for gbp/usd only:
Cease loss ought to be gt;150 pips. Since it is based on Daily candles, some small disturbance in the market can lead to an opposite move before going your way. Another fantastic thing about 150s/l is brokers/banks can not chase your ceases as easily.
I have noticed you can get at least 80 pips as well as 400 or even 500.
I would shoot for 80, then use your discretion as to re-entering.
USD/JPY?
Current set up to watch now is usd/jpy. The last couple of days have looked crazy on the chart, but if you notice if it was time to buy last entry on 11/9, you would have gotten 73 pips prior to turnaround and if you had 100 pip s/l with this pair, you'd still be at the buy as if the lines crossed down, the pbsar was pointing up. Since today's cross is still playing out, it looks best to wait until a new day to start trade. But, yesterday's gbp/usd candle was doing so and it worked out.
http://picnac.com/images/5681usdjpy 111506.gif
Any suggestions for improvements are welcome. - l
Add 3 lwma and 15 lwma to Daily chart. . Set each to use to medium price. Add parabolic sar to chart using default (or .02)
Whenever 3 crosses 15 if parabolic sar is in same direction as cross, take the transaction.
This appears to function best with gbp/usd. I've noticed that the smaller time frames appear to work for smaller profits but have more negative trades.
The below is data for gbp/usd only:
Cease loss ought to be gt;150 pips. Since it is based on Daily candles, some small disturbance in the market can lead to an opposite move before going your way. Another fantastic thing about 150s/l is brokers/banks can not chase your ceases as easily.
I have noticed you can get at least 80 pips as well as 400 or even 500.
I would shoot for 80, then use your discretion as to re-entering.
USD/JPY?
Current set up to watch now is usd/jpy. The last couple of days have looked crazy on the chart, but if you notice if it was time to buy last entry on 11/9, you would have gotten 73 pips prior to turnaround and if you had 100 pip s/l with this pair, you'd still be at the buy as if the lines crossed down, the pbsar was pointing up. Since today's cross is still playing out, it looks best to wait until a new day to start trade. But, yesterday's gbp/usd candle was doing so and it worked out.
http://picnac.com/images/5681usdjpy 111506.gif
Any suggestions for improvements are welcome. - l