Forex trading system “Gold Vein System”
Gold Vein is a trading system of following the trend, based on the principle of price movement analysis. This system is used for short and medium term trading on timeframes 15, 30 and 60 minutes. Best suited for major currency pairs. In the system “Gold Vein” little-known indicators for the Metatrader terminal are used. The main indicators here are “Gold vein” and “Carmen eyes” with parameters 35, 50, 65. The “Carmen eyes” indicator is shown on the chart with blue and yellow lines. The “Gold Vein” indicator is similar to the “CCI” indicator, but shows the trend with green and red bars. Fischer Joker (21); Fishrer joker (13); Smfischer Transform (8) are used as input and output filters. The Pivot Point indicator shows the support and resistance levels. The system template displays the time limits of the current and previous sessions, as well as the percentage of probability of the deal direction – buying or selling.
Example of determining the entrance to short-term sales on the M15 timeframe. The price should be below the yellow line of the “Carmen eyes” indicator. Fischer Joker (21), Fishrer joker (13) and Smfischer Transform (8) bars should be red. The “Gold Vein” indicator should be near or below zero. If all these conditions are met, the position will be opened on the next bar.
To open a position to buy the price should be above the blue line of the indicator “Carmen eyes”. Fischer Joker (21), Fishrer joker (13) and Smfischer Transform (8) bars should be green. The “Gold Vein” indicator should be near or above zero. If these conditions are met, a Buy position will be opened on the next bar.
You can use different methods to exit positions. It is recommended to close the trade near the support or resistance level. You can also set a fixed Take Profit ratio of 1:1.2 to the number of stop-loss points. But in any case, it is necessary to close orders when changing the color of the bars of the Fischer Joker (21) indicator.
Stop-loss on purchases is set at 5 points below the yellow line of “Carmen eyes” indicator. Sales are above the blue line, respectively.
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