I've tried several indiorsnonetheless, the fact is that they are ALL Lagging. At best, a few can let you know what's currently occurring, but most will let you know what already occurred. With all this said, many seasoned traders have a tendency to market Price Action with nominal indiors. Together the simple assumption of Price Action, I'd like to share an extremely straightforward idea which may be proven profitable with backtesting...

Follow the daily trend of currency pairs against the USD... that's it, that's all!!

By way of instance, let's think about the eurusd. If yesterday's trend was downward, then place a market order at the opening of today. Although my days are based on GMT, I don't think that it would matter, provided that you cycle back to the same session (i.e. Asian, European, Austrailian, U.S.). The sl/tp = 200/200.

There are filters which may be added to the egy to help extend the border. A few of those filters are: (1) enter just after two consecutive days of retracements (i.e. market up on day 1, down on day 2, up daily 3... daily 4 you would enter an order to move long); (2) input with a limit order in the new day (i.e. if prior day was an up day, then on today's order input with a limit buy order about 50 below the close of the previous day). The basic drawback with (1) (2) is that they can filter out good trading trends that begin early; (3) adjust the risk/reward into a more positive ratio. The issue with doing this is the higher likelihood of a good trade going bad since you overextended the tp relaive to the sl. Another issue is that a bad trade may get stopped out prematurely relative to the tp (i.e. sl=100, however tp=200); (4) a semi-martingale or full-martingale component (i.e. after every 2 losses, double the lot size). Obviously, this can possibly become quite disasterous all too fast.

Overall, this system is banking on the fact that even in a ranging market, it has a tendency to move in a given direction more often than daily reversals. By way of instance, the eurusd can begin at 1.3000, go up to 1.3600 at the end of the week, and then fall to 1.2900 at the end of this second week. In the interim, you might have had the opportunity to follow a couple of days of trending between reversals (possible just 1 - 3 modifiion days. 4 - 8 fad times, with couple of relatively horizontal days). Ultimately, you're on the lookout for a greater than 50% success rate.

Walt