I very often have to deal with very similar systems, both externally and in terms of their functionality. Here is FX Blizz, another trading system-clone, which is already sold a lot on the network. I don’t even want to write about its distinctive features, which, in fact, don’t exist. Just take and download for free.
Characteristics of the FX Blizz Trading System
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Platform: Metatrader4
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Currency pairs: Any currency pairs, recommended Major
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Trading Time: Any, recommended London and New York trading sessions
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Time Frame: Any
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Recommended broker: Roboforex, XM, FTMO
System components
System contains three indicators:
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Background Indicator
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Entry/Exit Indicator
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Info Dashboard
How does it work
Open your favourite chart. Press the right mouse button and pick FXBLIZZ template:
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FXBLIZZ-MODE1 – is the standard, balanced template. Moderate risk and moderate signal speed. This mode is ideal for typical daytrading/swingtrading.
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FXBLIZZ-MODE2 – is more aggressive template. It provides faster signals with increased risk. This mode is ideal for fast daytrading or scalping.
Entry Examples System provides very easy to read signals.
Buy Signal: Blue Arrow + Blue Background
Sell Signal: Red Arrow + Red Background
For even greater signal accuracy, I would personally recommend paying additional attention to the general current trend (FX BLIZZ TREND), which can be tracked on the Info Dashboard. And it is desirable that it coincides with the direction of the current signal.
No trade: Blue Arrow + Red Background
No trade: Red Arrow + Blue Background
When close a trade?
You can use oppossite signal. Or use simple RR ratios. After placing SL below/above the last swing. Aim for the same amount of pips (TP1), or double amount (TP2).
If you SL = 15 pips. TP1 should be placed at +15 pips, and TP2 at +30 pips.
Stop Loss order should be placed in the technically best place: – the last swing high (for the SELL trade) – last swing low (for the BUY trade) – at the round number – close to important support/resistance area.
Backtesting:
We always recommend to forward test the software, as backtest is not always reliable (for example it does not take into account NEWS trading, or 'dead' hours trading). But If you want to make larger backtest some brokers need load up more data, (just scroll back the chart as long as you can, and switch timeframes once. It should load up all the history).
In the archive FX_Blizz.rar (939.2 KB):
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FXBLIZZbc.ex4
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FXBLIZZ-E1.ex4
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FXBLIZZ-E2.ex4
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FXBLIZZInfo.ex4
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FXBLIZZ-MODE1.tpl
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FXBLIZZ-MODE2.tpl
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FXBLIZZ Manual.pdf
