193# Trend Pullback System
Submit by joy22 (Written by Diesel)
Place Constant Range EA in experts folder
Place all other indicators in Experts/indicators file
Place the Range System template into templates folder
Apply Constant Range Bar EA to a 1min chart. Set Bars Range to 10 and timeframe to 2
Open an offline (M2) chart and apply the template.
MA_adaptive_rsi nrp shows us the trend. Only take signals in agreement with the trend.
MT4-StochasticRSI gives us the timing for entry and exit.
In uptrend enter when the StoRSI goes below 25 and then turns up (SetupBar). A green arrow will be given on the close of this bar. Immediately enter on the open of the next bar. Exit when StoRSI goes above 75 and turns down. Place initial protective stop a few pips below the low of the SetupBar bar (approx 15 pips from entry depending on slippage).
In downtrend enter when the StoRSI goes above 75 and turns down (SetupBar). A red arrow will be given on the close of this bar. Immediately enter on the open of the next bar. Exit when StoRSI goes below 25 and turns up. . Place initial protective stop a few pips above the high of the SetupBar bar (approx 15 pips from entry depending on slippage).
If after entering, the trade goes nowhere for a few bars, just exit. You will often be able to exit at breakeven or small profit…
There is a HMA (Hull Moving Average period 8) on the chart. It is not part of the arrow calculation. I have it there to potentially filter bad signals or to help with exits.
There is a New Candle Alarm indicator to tell you when a new candle is starting. This is not necessary, although it helps so you don’t have to look at the chart the whole time…
The Adaptive RSI is not on the chart but it is needed in the experts/indicators folder in order to run the MA Adaptive RSI indicator.
While you are in a trade, it is advised not to shut down and restart the Metatrader 4 platform. The arrows do not repaint live, however if you restart the platform, recalculation using historical data can very slightly change the results and thus in a rare occurrence an arrow can appear or disappear. This almost never happens but is the reason I suggest you not restart the platform while trading.
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