Am wondering, is there a "MT4 Rejection-Spike" Indicator available for this Strategy? —
However, my "quick" perusal of this strategy in the MT4's Charts, I noticed that when the Rejection-Spike Candle "closed" above or below the previous Candle’s Close …it proved an effective signal.
EXAMPLE……
1/
i.e.,- @--> Support Levels
if; the Rej-Sp Candle "closed" HIGHER than the "Previous Bar's Close," ...that indicates a "Buy" signal. NOTE: The Previous Bar can either be a BULL or BEAR Candle.
2/
i.e., - @--> Resistance Levels
If the Rej-Sp Candle "closed" LOWER than the "Previous Bar's Close," ...that indicates a "Sell" signal. Again NOTE: The Previous Bar can either be a BULL or Bear Candlestick also.
Please do "back-test" (using always against 1 Minute Time-Frame Data-for best accuracy in any sort of Back-Testing criteria,) ...as I admit, I only made quick-visual comparisons over a dozen or so Charts. (i.e., NOT back-tested this theory.)
For those wanting to “know” the Rejection Spike Strategy, do follow the above Author’s links to obtain both the Manual and Video presentation. The Rejection Spike is very, very simple, …amazingly fruitful in trade success. (Hence my request for a MT4 Rejection Spike Indicator please.)
Now to digress regarding Ross Horn. He along with another Professional Forex Trader “Michael Nurok” were promoting a “Forex Trading System” called “Forex Precog System.” It seems a “real deal” of a software… and very authentic in its power of “delivering” real-results. Watching Nurok’s and Horn’s (as well as other Pro-Traders) doing “live-Trades” before one’s eyes if one lucky enough to go and look, …were quite unbelievable. Just watching their “live-trades” using the Forex-Precog and their “lots” strategies were lessons in themselves, …I learned a heck of a lot and realized my own “short-comings!”
Anyhow that is not what I am writing about. I just wanted to share further two-extra “freebies” systems that Nurok gave out (along with Horn’s Rejection Spike Strategy,) …These two systems are (like the Rejection Spike) very good strategies, and are worth obtaining and installing the information and its links to this Website’s page.
You’ll need to Google for these systems. (Could someone do this for me please and place it here?) They are presented either by “Michael Nurok” or “ForexPrecog.com” — you’ll not regret securing these two systems (by the way; as per Ross Horn’s Rej-Spike System …they are FREE..!)
Here are the two Systems in question:
!===>>
1. Kinetic Accelerator System (Scalping)
2. Triple Speed Profit System (For Big move trends)
<<<===!
Both these systems are incredibly simple!
As I said; you’ll not regret to have them on hand.
Enjoy!
~J
<End>
Meshidorin
⋅
@Ooden, if you know these two other systems, why are you posting about them here? You need someone else to do research and create something for you in a thread of another indicator. You think he’ll make a new magic indicator for you? Completely disrespectful.... Don’t try to market some other BS in author threads. And all this nonsense about repainting..... on current candles...... current candles are not final until they close. That’s what the once per bar close option is for...... use that for entry signals and in some cases even for exits, although most of the time you’d probably want a once per bar alert if an exit point is reached. How do people still not understand the difference between a confirmed signal and changes of states in the current bar. Of course it changes. It’s not repainting. It’s the signal triggering as it should on certain levels. Until the signal has confirmed by the close of the candle, anything could happen. Don’t trade unconfirmed signals.........