Nanningbob H4 Trading System For MT4 Intro
This time we have the Nanningbob H4 Trading System For MT4 to explain to you. The Nanningbob H4 Trading System For MT4 have a big combination of one EA, many indicators and one script! Which seems to be a big system that it is interesting to write about for you.
Out of the many versions of that system we will introduce you to the final version of it to be able to read a useful valid information.
In the shared we just shared above on the USDCHF trading currencies pair on the one hour time frame you can see many different indicators being displayed on the Nanningbob H4 Trading System For MT4 screen.
Note before explaining the Nanningbob H4 Trading System For MT4 EA to you. You can download the system fully from inside this blog below the used indicators explanation.
First of all whether you put the indicators on your chart screen or not it does not matter the EA already knows how to trade by them you may just put them on the chart just for your reference if you are curious to know why the EA sold or bought.
Secondly you do not have to follow up the MT4 all the day the Nanningbob H4 Trading System For MT4 system is taking the trades automatic for you, now let us tell you about the indicators used.
The first two indicators here are the bologger bands and the moving average ( the normal moving average not the exponential one ) these two indicators will be based on the 200 moving average on different frames not a specific one, you need to understand that this point is very important and you should not prevent it from looking up more than one time frame.
Many trades out there use the 200 moving average saying that it is good for market bouncing. This is how you can get the 200 moving average results on different time frames 200 is good for four hours time frame, 50 is good for 1 hour time frame, 25 is good for 30 minutes time frame, 12 is good for 15 minutes time frame, 4 is good for five minutes time frame, one is good for one minute time frame. That is based on seeing that the 200 moving average is best on the four hours time frame based on the OP sayings ( the original poster )
So, the Nanningbob H4 Trading System For MT4 EA is using the 200 moving average for both the Bollinger band, and the moving average itself and optimizing it with some calculations to give the same result on other time frames.
Moving to the Sixths indicator, the indicator helps you to divide your screen to six equal parts to be able to see the market clearly, and in the same time it displays for you the movements that happened in this six parts how many pips in total from the highest to the lawest price.
You can try trading by the Sixths indicator and the Bollinger bands only if you wish out of the Nanningbob H4 Trading System For MT4 system. And you can use the areas that the sixths indicator shows you as take profit, and stop loss and entry areas what you need to ignore is the middle of the screen while the sixths is optimizing it for you.
Moving to the stochastic and the MACD , singman rwb indicator, the stochastic alone is a filthy indicator and you can't depend on it, and the MACD indicator is very slow that gives the signal after the market moves already. The Nanningbob H4 Trading System For MT4 (OP) merged this two indicators together to bring us something new so, let us see what happened.. the merge of the stochastic and MACD is called singman RWB when it displays a chance for you using it from the Nanningbob H4 Trading System For MT4 that means a good reverse is going to happen and you need to check your other trading tools or strategy to confirm if you need to enter that signal or not.
The MACD divergence is to show you the divergences that happens and the other attached version whic his the fx MACD divergence is the cause of the arrows you see on your screen, it shows you arrows instead of drawing the divergences on the screen. So, whenever you see arrows you should know that that area had a divergence .
So, in short words we mentioned till now the 200 moving average and how to get it on different time frames with same result, same as well for the Bollinger band. We mentioned also the stochastic and MACD merging and their results, and finally the 6th indicator.
Now, we will move to the last three indicators in that big system and the one script that it has.
The last three indicators here in the Nanningbob H4 Trading System For MT4 are the breakeven indicator, Iexposure indicator, and the support and resistance indicator, will explain them as 1,2,3.
1- if you have more than one trade opened the indicator will tell you the price you need the market to reach to close all your trades on no loss and no profits to meet the zero out point. It's a helpful tool instead of counting manually by yourself on the calculator.
2- this one will list to you every thing you have running specified, like the trades profits and losses, the trades lot size, and show you the live trades you have, and that might be a good thing to see everything in one location to make you clear on what's going on. I believe that you can do that now separately by yourself using the MT4 filters by click on ' lot ' or ' P/L ', etc will show you the results from the biggest to the smallest.
3- That is the last indicator we have in the Nanningbob H4 Trading System For MT4 which is the support and resistance indicator, it is based on the known indicator which is the fractal indicator that will show you dotted lines on your screen to be able to highlight to you the support and resistance areas on the chart. Which makes you able to know why the price is stuck in specific area and if you should close your trade or not, etc.
Now, moving to the only script that the system have which is the ' Close All Script '
Instead of closing each trade manually by yourself you will just open up that script and tell it to close all of your trades and that's going to save you time clicking to close your trades.
How to use Nanningbob H4 Trading System For MT4
Just put the Nanningbob H4 Trading System For MT4 files in their right folders, allow the EA to trade and monitor from time to time as you should close your trades based on your decision.
Nanningbob H4 Trading System For MT4 Pros & Cons
I really loved writing about the Nanningbob H4 Trading System For MT4 I believe that it took much power from its developer to get it out and it might be something good. I have not tested it but I will consider testing it in the nearest chance as it really got my interest reading about it then explaining it to you.
The cons are the repainting indicator it has, still, I am going to try it out!
Summary of Nanningbob H4 Trading System For MT4
Big system that is using one EA, several indicators with good settings, and one script to make your life easier closing your trades!