4 Bars NLMA System For MT4
Table Of Contents:
- 4 Bars NLMA System For MT4
- The 4-Bars NLMA system for MT4 – Long positions
- The 4-Bars NLMA system for MT4 – Short positions
- Is the 4-Bars NLMA system for MT4 any good?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The 4 Bars NLMA System For MT4MT4 is a short term trading system, that incidentally makes use of quite a few indicators, which is about 10 in total. However, most of these indicators do not work on the latest MT4 versions. Therefore, the 4-Bars NLMA system for MT4 in this article is a rather stripped down version. It only makes use of the indicators that are currently available. The developer of this trading system is Russian and there are also some instructions on how to trade with this method.
There is an expert advisor that allows to automatically close the orders when certain conditions are met. However, for taking the trades, you need to do it manually. Unfortunately, though, you will not be able to make use of the expert advisor as it does not work with the MT4 trading platform.
Thus, what we are left with, with the 4-Bars NLMA system for MT4 is a trading system that makes use of only a few indicators that still do work. Ideally, the 4-Bars NLMA system for MT4 is said to be used on the 5-minute chart time frame. But considering that half the indicators do not work, we will use this on a 15-minute chart time frame.
The main indicator on the price chart is the pivot level indicator. This indicator as you might already know is suitable for entry and exit for your trades. There are two versions of templates that come with the 4-Bars NLMA system for MT4. The first is what you see above.
The second kind of a template is where there is an Non lag MACD and other additional indicators. There is no big difference between the two templates except for the type of indicators that are available. The trading signals basically remain the same and so does the pivot level indicator which is critical to the entry and exit of the trades.
The templates are somewhat heavy and therefore, you can expect your MT4 trading terminal to freeze for a few seconds. Traders should be aware about this when using the 4-Bars NLMA system for MT4. In this example, we will make use of the 4-bars NLMA template which is similar to the title of this trading system.
The only other indicator besides the pivot levels is the OBOS zone. This is a custom indicator that shows the oscillator moving between overbought and oversold levels. These levels are well identified. However, the use of nearly four signal lines makes the OBOS indicator somewhat quite cluttered. It takes a bit of practice to understand which lines to pay attention to.
We recommend that you only pay attention to how the other lines are working in relation to the blue moving average line. There is basically a Stochastics oscillator that is overlaid along with the relative strength index indicator as well.
As we noted in some of the previous trading strategies, it is not wise to combine such oscillators into one. Firstly, the way the oscillators are constructed is quite different and secondly, you will notice that the overbought and oversold levels between these two oscillators differs greatly. Let's now take a look at how you can trade long and short positions using the 4-Bars NLMA system for MT4.
The 4-Bars NLMA system for MT4 – Long positions
To take long positions using the 4-Bars NLMA system for MT4, we need to wait for price trading near the intraday pivot level. Note that price should not breakout too low such that it hits the support level. This is very essential. Once you see this pattern emerge, look to the OBOS indicator.
Here, we would like to see the oscillators moving from the oversold levels and cutting above the blue line. This suggests that the momentum is rising. Now take a long position at market. Using the previous swing low near the pivot level, set your stop loss. To the upside, use the immediate resistance level as your take profit.
The 4-Bars NLMA system for MT4 – Short positions
To take short positions using the 4-Bars NLMA system for MT4, we need to wait for price trading near the intraday pivot level. Note that price should not breakout too high such that it hits the resistance level. This is very essential. Once you see this pattern emerge, look to the OBOS indicator.
Here, we would like to see the oscillators moving from the overbought levels and cutting below the blue line. This suggests that the momentum is falling. Now take a short position at market. Using the previous swing high near the pivot level, set your stop loss. To the downside, use the immediate support level as your take profit.
Is the 4-Bars NLMA system for MT4 any good?
In conclusion, the 4-Bars NLMA system for MT4 is a trading system that you can give a miss for a number of reasons. Firstly, more than half the indicators do not work. This means that you are left with an incomplete system. Secondly this trading system apparently makes use of an expert advisor to exit the trades. Again, the EA does not work, leaving this trading strategy in limbo.
Finally, the choice of the remaining indicators isn't the best when it comes to a proper trading system. At best, when you use the 4-bars NLMA template is just a price chart with pivot levels and two oscillators combined into one. This is not perhaps the ideal way to build a trading system.
There are two templates that come with the 4-Bars NLMA system for MT4. It is up to the trader to decide what they want to use. There is no real edge that you will gain in the markets from either of the templates. Bear in mind that the templates are also not easy to load. Therefore, there is a risk that your terminal will freeze for a short period of time.
The 4-Bars NLMA system for MT4 is ideally suited for the short term charts only. Therefore swing traders will not find this to be an ideal trading system to explore.
Download the complete system description and the files here: