Brainwashing Trading System

This is old Brainwashing system (original one) re-coded for Metatrader 4 and Metatrader 5

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Metatrader 4

Indicators and template

• iTrend_v1.01 indicator (attached) - iTrend indicator was updated and fixed, you can find new version in premium section here: iTrend_v1.03 600+
• PriceChannel_Stop_v9 indicator is on this post. PriceChannel_Stop_v9.2 600+ indicator is on this post. This version works with Metatrader 4 build 600 and above.
• Template (attached). Note - please use updated template file attached here (brainwashing_600++.tpl) in case you are using new MT4 builds.

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How to install

• Place iTrend_v1.01 indicator and PriceChannel_Stop_v9 indicator in indicators folder - for example - to C:\Program Files\Alpari MT4\experts\indicators; compile indicators in MetaEditor or restart MT4
• Place template file to template folder (for example, to C:\Program Files\Alpari MT4\templates)
• Open chart, right mouse click on the chart, select our template by name - and indicators with the settings will be loaded (you should have the chart similar with above one).

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How to trade

• If big dot of PriceChannel_Stop_v9 indicator is on the same color/on the same close bar with iTrend_v1.01 indicator's line, and
• The line of iTrend_v1.01 indicator is above zero by value and above the level so
• open the trade: blue color for buy, read color for sell, initial stop loss is on dot of PriceChannel_Stop_v9 indicator moved by trading stop according to the lines of this indicator.
• Please note: system is traded on close bar, means - wait when the bar with valid signal will be closed.

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I used this system for M15, M30, H1 and H4 timeframes (for majors).

Metatrader 5

Indicators and template

• iTrend_v2 indicator (attached)
• PriceChannel_Stop_v9 indicator is on this post.
• Template (attached)

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How to install

• Place iTrend_v2 indicator indicator and PriceChannel_Stop_v9 indicator in indicators folder - for example - to C:\Program Files\MetaTrader 5 -scalping\MQL5\Indicators; compile indicators in MetaEditor or restart MT5
• Place template file to template folder (for example, to C:\Program Files\MetaTrader 5 -scalping\Profiles\Templates)
• Open chart, right mouse click on the chart, select our template by name - and indicators with the settings will be loaded (you should have the charts similar with above one).

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How to trade

• If big dot of PriceChannel_Stop_v9 indicator is on the same color/on the same close bar with iTrend_v2 indicator's line, and
• The line of iiTrend_v2 indicator is above zero by value and above the level so
• open the trade: blue color for buy, read color for sell, initial stop loss is on dot of PriceChannel_Stop_v9 indicator moved by trading stop according to the lines of this indicator.
• Please note: system is traded on close bar, means - wait when the bar with valid signal will be closed.

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I traded by this system for M15, M30, H1 and H4 timeframes (for majors).

Sometimes - we need to wait for iTrend confirmation ot be above automatic level. example - I waited 1 bar more after big dot before open the trade (+33 pips in profit for now):

Does anyone have any docs or more in depth info about how to trade this system. Thanks in advance

Hi svezir,

I am author of this system ... and I traded this system live for many months. If you need some detailed explanation so let me know.

I like this system because I can use it with very very small deposit.

Two profitable trades for today for USDJPY H1 :

If someone needs detailed explanation of the rules and how to trade so let me know.

hi

could i have a detailed explanation even though it looks straight forward thanks

does it also work on all time frames?

• If you see red big dot of PriceChannel_Stop_v9 indicator with red iTrend_v1.01 indicator, and if iTrend is above zero, and if iTrend is above the level - you are openning sell trade (on close bar)

• If you see blue big dot of PriceChannel_Stop_v9 indicator with blue iTrend_v1.01 indicator, and if iTrend is above zero, and if iTrend is above the level - you are openning buy trade (on close bar)

And this system can be backtested because iTrend_v1.01 indicator is having auto level feature (levels are moved based on some period of bar/time on historical data so it is allowing us to backtest this system by simple scrolling the chart back.

Timeframes: M15, M30, H1 and H4. The best timeframes are H1 and H4. I traded it for EURUSD, GBPUSD, USDCHF and USDJPY.

why not EA, with simple reverse strategy

Originally Posted by greenmilk

why not EA, with simple reverse strategy

Yes, it is good idea to use EA.