please the ebook below for details of the method, along with the links to all the tools.
add: mt4 meter display,
ade dua version ni. mt4 build 224 and mt4 build 225
meter di atas ni saya bubuh dalam meter ajaib baru kat bawah ni.
ade dua version. untuk brokey yang tak ade NZDCAD & CADCHF, pakai OasisSTrength Meter 26.
yang broker ada dua pair tu, pakai oasis strength meter 28
.
make sure your MT4 version builde 225. check tgk kat help - about
add:
1000pips dashboard is now available.
Features:
Auto detect pair count for calculation
give candle distance from SnR for dominant pairs to summarize location
give direction for yen pair and USD pair to help in decision making.
credit to brader Aiman
see screenshot. (mau ka)
metatrader4 build Version 225 only. otherwise, ur platform will crash
***Add
FOR OASIS TRADERS ONLY: Instruction to use the 1000pips Club DASHBOARD
salam, the reason I get Aimans help to code this Statistic and summary indi is to simplify my job to make conclusion which was based on a few charts.
originally, I will refer to these 3 pair before i actually OP base on the 3 criterias:
1. Strength >/= 3 (best is 4)
2. candle on TF 5 or 15 break the SnR, close above and new candle formed on the same direction. for a solid certainty entry, I would use M15, but must refer to H1 and above to check whether the SnR is Major or Minor.
what is the difference between Major and Minor?
The pivot is considered as major as it calculated based on hi-lo and average price daily. so the SnR is quite robust.
while any SnR drawn from H1 TF below, is considered fragile as it is minor.
3. the price must be within daily average range.
for this particular item, we can use the T S R Range calculator modified, posted somewhere in this thread.
normally I will be flipping through 3 charts to see where is the CS location. From the SnR as well as direction on multiTF. And also to check the range of the dominant pair. I found it tedious especially when trying to catch a move after news or session open.
This dashboard is not an indicator to give signal on Buy or sell. It just summarize the information and statistic needed for us to make decision.
in this dash board, there are 4 segments:
1. Candle location in pips value from SnR.
2. price action (direction) on TF15 and TFH1
3. Summary on strength difference (range), spread, Hi-lo and also average range for last 5 days
4. the currency strength meter.
how do we use this?
no 1 is to see where the GJ, GU and EJ are located from the SnR. this is important for us to decide whether we want to trade both USD and Yen or just USD or YEN.
no 2 is to check the tradable pairs whether they are running on the same direction after the "pacemaker" breaking thru the resistance or support. if they are all aligned, we can trade both USD and Yen.
no 3 is to see whether the current moment is suitable for OP. the range is auto calculated and we can set the difference as 4 or 3. i would recomend 3 so that we are not too late as market nowadays is ranging. from this statistic, we can also trade manually based on those pairs which only have extreme conditions (weak versus strong). and also the range comparison is displayed here. hi-lo is the current day movement of the pair, and the dailyAve is the last 5 days range.
for this range, condition of this system = todays hi-lo must be </= average range.
in this SS, lets take previous day as example since daily range is only 122 and still within range, and not a good example since it was friday.
notice tak the 100days average range is 184 pips? the hi-lo on thursday is 175.. very close to the maximum average daily range..
at this point, even though the usd is still weak compared to GBP, it is no longer safe to buy. as it almost out of range. once the price hit resistance, very likely it will bounce back due to self-fulling prophecy on both resistance and range.
i do not pay attention on the risk and the pips down or pips up statistic. i only use the range statistics. ,
IT IS MORE IMPORTANT TO KNOW WHEN NOT TO TRADE RATHER THAN WHEN TO TRADE
hope this helps.
for OasisTraders, you can PM me with your acct number and email address, i will send this you.
note:
TSR modified has Ho-LO range added
METERAJAIB BARU tu meter yg tak berapa accurate especially yg ade bar merah hijau tuh. pakai yg OASIS 26 atau 28 ok.
1000 pips dashboard ade 3 version:
1. untuk oasis trader sahaja - ada statistic strength range, spread and hi-lo
2. untuk public (1000pips club dashbord CG). ade yg basic tapi ada jugak basket candle direction
3. sapa macam yg no 2, tapi enable option utk fxopen micro.
caution: meter is inaccurate on monday moning for IKOFX platform user. please refer to other platform if you want to trade on monday morning