place stoploss. Next 4 canles: (stoch) With this I mean that we enter trade only on next 4 candles after stoch makes a cross. Like 5 EMA (open 5 EMA (close) etc. So hope you guys can help me on this. Heiken Ashi candles work together with Rainbow. Short: Rainbow 08 is below rainbow 07 and rainbow 07 is below rainbow 06 10 ema and 12 ema cross.
So anyway rules for entry: long macd is above 0 and out of Silent Zone and previous candle is green. In my chart 06 is green, 07 is purple, 08 is blue. Exit rules: at the next cross of major Stochastic (21, 9, 9) lines. It will be the major trend. Macd: I have added 2 levels to macd:.5; -4.5. All these trades were profitable. What I want to discuss is on "Rainbow Madness V2" as I hardly understand some of them. Why we need all these indicators?
Entry rules: When the Stochastic (21, 9, 9) lines crossover appears enter (or wait for the current price bar to close and then enter). Previous heiken ashi candle is blue. Disadvantages: needs constant monitoring, and again we are dealing with a lagging indicator. Find one that works for you or use 10/6 or 10/8 Stoch If you want you can use usual stoch but it takes some room so I like to use stoch alert. Closest City - Please select a City -New YorkBostonChicagoHong KongHoustonLos FranciscoSingaporeWashington DelhiParisRio de JaneiroSalt Lake CitySan DiegoSao Industry - Please select your Industry -AccountingAsset ManagementCommercial BankingConsultingCorporate FinanceEquity ResearchHedge FundsInsuranceInvestment BankingPrivate EquityProprietary TradingQ AReal EstateRecruiter - HeadhunterSales and TradingVenture CapitalOther. One thing about stoch alert.
Remember - 4 candles! This gives more accurate entry ruless and gives a good exit rules. Settings: macd 9:19:1 Heiken Ashi Smoothed 2:17:3:2 MAs If you use MetaTrader than all you need is 06,07 and 08 set Rainbows. So SL and TP examples. I just can say it was hit. Everything is showing that price is going down: RED Heiken Ashi, Rainbow, stoch, Trigger MAs and macd but macd is still in the Silent Zone (We would enter trade on next candle after blue line if this would be right trade) So no trades while. We want for price to find support somewhere in rainbow NOT somewhere on other side of rainbow. By doubling on Stochastic analysis we are doubling on trading accuracy. If you like you can add 50 EMA, 89 SMA, 150 SMA, 200 SMA, 365 EMA and use them as profit areas. Previous heiken ashi candle is red. Cuz everyone of them improves other.
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