Hi, first of all I need excuse for my bad English. .

I want to talk about a very straightforward and profitable egy. This egy is based on Trendlines and Price Action. There are many ways to utilize this egy from starting then add filters, additional methods and ideas, but I will start. Everybody is welcome get greater outcomes and to polish this egy.

This egy can make use of almost any major currency pair but I want to start with Gold (XAUUSD) due to some reasons. Gold moves 900 to 1500 pips per day. No need to run for many currency pairs. If you do analysis for 4 major currency pairs then you will need lot of time and you will get several pips. If select only 1 Gold pair then You can make over 200 pips in single day.

Alright let's start....

The way to draw an ideal trendlines?

Drawing trendlines can be very subjective and traders will draw them differently over the chart. Please go to this thread for drawing trendlines that are ideal.
Https://www.nigeriaforextrading.com/...1-markets.html

I've attached customized MACD indior to get egy. This isn't mine. I downloaded from forum and thanks to developer of the indior.
Preferences for 5 Min chart ( 1,13,1 ) Notice: it is also possible to utilize Default settings. It is upto you which work for you.


Draw trendline connecting highs and lows with the help of MACD.

Now wait for price to break. See attach picture




Entrance: Once a big candle break the trendline. Wait for the candle to shut and enter.

Stop reduction: Criteria for stopp loss is it shouldn't be less than 10 pips. It has to be within the trendline. Stop loss is based on dimensions of breakout candle. If the size of this candle is big stoploss could be more than 10 or 12 pips, sometimes 15 or 20 pips.

Exit: Different principles for Exit:
1. It's possible to adjust TP for 10 pips for each and every transaction
2. Establish TP equal to Stop Reduction
3. Establish Tp to previous high high or reduced
4. Establish TP to next support or resistance
5. Best Exit Rule
you are able to make using your money control and Exit Points. For example if your SL in 15 pips and TP is also on 15 pips. Once Price reaches target then you should shut half Lot and then move your SL. Now you are free of fear. It is possible to see many times Gold moves upto 50 to 100 pips after it breaks down the trendline. It depends how you manage it.




Notice: This is actually the first step for this egy to understand and practice. Once you will understand and comfy then we'll proceed to make it longer progress.

I favor this egy on Gold since Gold move 1000 to 1500 pips in 1 day. Therefore, if you take only Gold and practice. Once you can analyse Gold moves you will have the ability to make over 200 pips daily using this egy. There are lots of benefits for Gold pair .Later I could discuss.

Please do not use it on live accounts. Practice it on Demo and back evaluation. Once you will learn then discuss your experience to here. So together progress utilizing a few additional filters and indiors. Time to time I will update this first post to understand.

UPDATE

Please visit my New thread about Divergence Strategy on same 5 Min Gold Chart here https://www.nigeriaforextrading.com/...end-2-1-a.html

Trendline and Divergence Both egies Are Extremely simple and profitable. Please practice my equally gies and I will combine both egies to make a very powerful complete system. I want people understand step by step.

Please update me on your own practice and ask me questions.

Thank You

https://www.nigeriaforextrading.com/...1162849414.mq4