Trend Chaser FX .SI4 Fibonacci Trader SRV Files

TrendChaserFX .SI4 Fibonacci Trader SRV Files & MT4 Files

The risk of financial loss in trading currency can be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your financial position. Do not use any money for currency trading which you cannot afford to loose. The high degree of leverage used in currency trading can work against you as well as for you and therefore can result in very large losses as well as gains. FOREX trading may not be suitable for you. If you have any doubts you should contact an Independent Financial Advisor.

TrendChaserFX MT4 Indicators

Template file for screenshot above.

StepMA indicator I accidentally left out of the above .zip file.

(you need this indicator for StepChoppyBars to work correctly)

Indicators list & StepChoppyBars color settings

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I’m currently using the Ravi Fisher indicator for entries. I’ve included it here for those who would like to incorporate it. The one thing I like best about MT4 is the myriad of indicators available for the platform. It makes fine tuning and changing a system to suite your own taste much easier.

Ravi.mq4

MT4 Indicator Usage:

When price crosses and closes above or below the StepMA line the indicator will signal a trade by displaying the bar as either blue for LONG, or red for SHORT.

Once in the trade the bar color remains the same until price starts to retrace at which time the bar color will lighten. You can either stay in and watch for reversal or close out and wait for an opposing trade or re-enter if the bar color darkens again.

If price retraces back inside the Trend Bars, price will go FLAT (white), indicating no trade is available. Typically for a LONG, the RSI should be above 50 and below 50 for a SHORT.

I prefer this system on the 5, 15, and 30 minute charts. I feel those provide the right trend channels to profit on a regular basis. Some pairs have more "pattern persistence" than others. JPY crosses are known for this as are most GBP pairs. The CAD, however, can abruptly change direction and doesn't seem suited for this type of system. If you are using this MT4 version on the 5 minute charts, change the default .005 deviation on the Trend Envelopes to .002 to increase their responsiveness. For 15 minute charts, use .003. For all other time frames, I would stay with the default .005 deviation or flavor to taste.

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