Andrew Forex Trading System for mt4

 

Andrew Forex Trading System

Time Frame        :               any, but usually 4-hour

Indicators used in Andrew Forex Trading System.

• Nonlagdot
• Supertrend1

Buy (Long) Entry:  Supertrend1 line should be green. nonlagdot should be above the Supertrend1 line and Nonlagdot changes from red to blue.

A position should be opened by execution of a pending order. The order is placed on the upper point of the market extreme, which is formed after the first rebounce of the market downward (when closing price is lower than previous one). That is one should wait until, the price has exceeded the point of extreme, and only then buy. However, if the price fails to exceed the level of the point of extreme, one should wait. After the formation of a new point of the market extreme, the order should be shifted to that point. If the color of nonlagdot or supertrend1 changes to red, the order should be canceled.

 

Sell (Short) Entry:  Supertrend1 line should be red. nonlagdot should be below the Supertrend1 line and Nonlagdot changes from blue to red.

A position should be opened by execution of a pending order. The order is placed on the lower point of the market extreme, which is formed after the first rebounce of the market upward (when closing price is higher than previous one). That is one should wait until the price has exceeded the point of extreme, and only then sell. However, if the price fails to exceed the level of the point of extreme, one should wait. After the formation of a new point of the market extreme, the order should be shifted to that point. If the color of nonlagdot or supertrend1 changes to blue, the order should be canceled.

Market entries without placing pending orders are not recommended.

Pending orders for market entries are placed with the regard of the amount of the spread and additional 3 pips.

Exit when:

1. The price touches the Supertrend1 line, or
2. The Supertrend1 line changes its color, or
3. The price touches the first line of the Fibonacci fan. The Fibonacci fan is constructed from the point of the market extreme at the beginning of its movement and up (or down) to the opposite extreme point of the current market, that is, from the bottom to the top of the movement (when buying) and from the top of the movement to the bottom (when selling). It is important not to confuse: the Fibonacci fan is constructed not from the market entry point, but from the point of the beginning of directional movement or trend (up or down). Fibonacci fan line, which is closest to the price, serves as the exit level. And the exit order should be moved on this line.

Stop-loss is set:

1. On Supertrend1 line, or
2. Below near price swing, or
3. Under (over) the closest extreme of the market, which exceeds the Supertrend1 line in the opposite direction.

Stop-loss order is placed with the regard of the amount of the spread and additional 3 pips.

 

Downloadable file Andrew Forex Trading System.rar contains nonlagdot.ex4, nonlagdot.mq4, Supertrend1.ex4, Supertrend1.mq4 and mine.tpl

Free Download Andrew Forex Trading System

How to install Andrew Forex Trading System in forex trading platform metatrader 4 (Mt4)?

• Extract the downloaded Andrew Forex Trading System.rar.
• Go to “File menu” in Mt4 trading platform and click “open data folder”.
• Open templates folder and paste the mine.tpl file.
• Open Mql4 folder and open the indicators folder. Now paste the nonlagdot.ex4, nonlagdot.mq4, Supertrend1.ex4 and Supertrend1.mq4 files into indicators folder and restart the MetaTrader 4.