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Looney's Forex Buy Signals
I created this Forex buy signal indicator to save myself some time when looking for buy opportunities. The signals are generated from a combination of several indicators such as the RSI, MACD, Wave Oscillator etc. I spent alot of time tweaking all the values to give me reliable signals. I trade one hour candles and generally get 50+ pips per signal.
If price goes down after the first signal and I get another signal, I buy again which means I get a average buy price (dollar cost average) and then sell when it reaches my profit level.
Alerts are built-in as well. The indicator does repaint at the moment so set the alert to "on candle close" to ensure that you get a valid signal. Longer timeframes works better and as mentioned I use 1 hour candle.
I will release the back-test of this indicator shortly where you can then enter your capital amount and set profit & stop loss levels to see how you would have performed based on historical data.
The current version is free and I will grant access on request.
Comments & suggestions welcome.
If price goes down after the first signal and I get another signal, I buy again which means I get a average buy price (dollar cost average) and then sell when it reaches my profit level.
Alerts are built-in as well. The indicator does repaint at the moment so set the alert to "on candle close" to ensure that you get a valid signal. Longer timeframes works better and as mentioned I use 1 hour candle.
I will release the back-test of this indicator shortly where you can then enter your capital amount and set profit & stop loss levels to see how you would have performed based on historical data.
The current version is free and I will grant access on request.
Comments & suggestions welcome.
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