Top Trend Indicator! Works but with a little tweaking.

[ChartWizQ]

Hey guys and gals, I just got through reading some other methods on here in MT4 and I have this old template I've been using for about two years that amazing I have yet to share and I wouldn't if I didn't think it was better than some others *wink*

This method is very simple but took me quite some time to tweak the settings both in back testing and live environments. I can't say if these are the best settings for the market these days about a year after I made the template and tweaks, but you can always do your own settings and stuff I give you the power to make it so with this template so good luck.

PLEASE NOTE THIS INDICATOR DOES NOT WORK WELL ON ANYTHING LESS THAN 15MIN CHARTS!!!





ENTRY
Look at the TOPTRENDINDICATOR on the chart twice, when the SKY BLUE Top Trend Indicator is underneath price we almost certainly are in an uptrend unless its a false breakout that triggers the sky blue TTI which doesn't happen that often compared to the TTI with the normal settings in ROYAL BLUE TTI which gets triggered with many false breakouts BUT is our trigger to enter when it appears along with the SKY BLUE Top Trend Indicator .


So remember to buy look for ROYAL BLUE TTI only when the SKY BLUE Top Trend Indicator is telling us we are in an uptrend. Buy when price touches these lines also and it looks like it might go back up.

When you sell do the opposite, a tomato red TTI alerts you to the long term trend and a red TTI alerts us to the short term.

To me, disagree if you want, this is the key to trading the FX market finding the long term trend on your shorter term charts, no one really teaches you that.

[ChartWizQ]

Trying it with Schaff Trend Cycle indicator:

[ramsomfx]

You did not include the Chaff trend indicator Chart Wiz, but its such a sound method at quick glance. Thanks truly.

[Star0s]

Wow at first I was skeptical when I saw this in a different thread but this is so clear to me! And its FREE! I can't tell you how many things I actually paid for that did nothing for me.

[ChartWizQ]

Tell me you can't spot how it works!

[ChartWizQ]

Two more good ones!

[DickieD]

Can u show me examples of this workin?

[skynet]

Sorry for misspeaking in the other discussion, I did not see you had this available. Nice work on this strategy, I guess Ill give it a try myself.

[Seth2]

Trying it with Schaff Trend Cycle indicator:

This is one of the most accurate trend finding indicators for forex I've ever seen!

[modar]

I will try it >>>thanks

[Federale]

cool ill try this strategy out

[TopTrader]

So buy the dips of the top trend indicator, but you've altered it of course right?

[ChartWizQ]

You did not include the Chaff trend indicator Chart Wiz, but its such a sound method at quick glance. Thanks truly.

Im not sure if the forum rules allow me to.

[tab]

This is what the BudFoxFx guy uses, reminds me of the chandelier indicators, but steadier.

[ChartWizQ]

Bud Fox is a fictional character from the film Wallstreet

[tab]

Na theres this guy who posts here calling himself budfoxfx. Question is he white hat or black hat Trader? haha

http://forexforums.com/forums/metatr...dicator-2.html

[DickP]

Na theres this guy who posts here calling himself budfoxfx. Question is he white hat or black hat Trader? haha

http://forexforums.com/forums/metatr...dicator-2.html

Oh stop, you know your Z LA Best alert indicator is not the bag of chips you thought it would be Don't be bitter.

[BudFoxFx]

This is what the BudFoxFx guy uses, reminds me of the chandelier indicators, but steadier.

That Guy Bud Fox uses this too, I find its not a repainting indicator like most of you said, provides you with much more precise picture of trend on higher time frames, but 1min and 5min charts its pretty useless.

[Mike]

Let's not get testy fellas.

At any rate I made a video for this indicator as well that tests this over a few hours all under 2 minutes.

I caught this at a bad time, I should have caught it a few hours before this set up but regardless, we get a good glimpse at what TOP TREND can do. Now, with my experience from Chandelier Stop indicators and their value despite what anyone thinks, I know that this top Trend probably has to be tweaked like ChartwizQ suggests, but he doesn't get into the fact that each pair is different and based on his settings I had to readjust the indicator midstream and you see how it then becomes much more accurate for USDCHF, now chalk that up to it being the wrong time chart to trade it or what you may, in reality it very closely resembles the chandelier indicators except for its ability to be drawn at the bottom by the histograms which can just tell you when a flip of the TOP TREND occurs which only happens a select amount of times each day resulting in large moves. As far as I can tell this this indicator does not repaint itself any bars back and in fact that is what makes it useful, the fact that it just changes direction for us rather than repainting itself to appear more accurate.



This is a good example of me breaking my own rules too, I go short way too soon, anticipating a short based off different indicators not seen here, but, specifically to this chart I was wrong for going short before the blue TOPTREND line is broken to the downside, you then see a huge upswing, I go down many pips which is also against my rules but within a few minutes the trade does go my way, but only out of luck at that point. All in all not a bad indicator if you tweak it a bit like suggested.

[TopTrader]

That's not a great example of this working, I wish I could record my screen but I need to do things on it, Mike has like 20 extra monitors to do this stuff on haha