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All you have to do at that time is quickly check the system to see what direction to place the trade. Finally, get on with your day until the next day's setup. If you don't want to enter the trade details manually, I believe Mark has also developed a automated trading robot EA that will automatically trade for you.
The commodity channel index indicator is based on the assumption that the market moves in a cyclical pattern which means high and low of the price are formed in periodic intervals and in consecutive fashion. It is an optional component of this indicator that simplifies the trading by checking the signal for us.
The second use of the indicator is to give us helpful text information about the trade signal.

We will check for trading signal every day at 5:30am GMT, so we need to make sure our indicator is set up properly. Here, the BeginTime should be the time when we are checking for signal (which is 5:30am), but in broker time zone. What you will do in this trading system is you look at the chart at 5:30 GMT time in the morning to execute your trade.
One of the functions of this FxMorning indicator is to draw blue background on the main chart which indicates the start of our trading hour.
This indicator checks the rules of the system and gives us a clear guide to whether go long, short or no trade.

The system basically is focused on the higher volatility which happens in the beginning of the European trading session.

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31.12.2014 | Author: admin

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