best mt4 indicator 2019

we are at the charts then first part of the development now I'm very quickly before we start the development just looking at the chart and this top pane is 10 minute chart and this bottom pane is a 240 minute chart or a 4-hour chart now we are taking that signal looking at that for our outside bar but the way I program the software I actually program it just to get a bit more definition a program in on that shorter time frame it's not really something we need to talk about at the moment but just wanted to say so if you're looking at which we see the 10 minute chart don't get confused we're actually taking trades using these for our outside bars so that was just a quick note before we get started so dollar yen we're looking at dollar yen Forex pair and first of all we're going to test on some data from 1st of January 2008 through to at the end of 2016 so quite a wide range of years there to test that data on at the moment the strategy is completely unaltered so we just take in every single signal the only thing I have done is I've put in a stop loss and take profit target and I've just picked them you use a hundred pips for both so hundred pips that stop-loss 100 pips for the take profit otherwise the only exit there would have been was it would be a reversal exit in opposite direction so if we belong then the only way we'd get out that long is for a short setup to occur which is fine but it's not really how this strategy was intended this strategy was intended to last hours maybe a couple of days and don't think we would get those reversal type exits within that time period that that short time period so for the minute we're going to be working with take profits as a fix pip level so let's have a quick look at the equity curve to see how it looks there's the equity curve and it's pretty pretty awful so possibly the stop-loss and the take profit are way off what they should be way off their optimum but that's something we're gonna find out but for now we are going to work with that hundred pips to stop at 100 pips for take profit I think the best thing didn't it look at now is looking at that time window now what I mean when I talk about time window we're going to look at a start time and an end time for these trades to occur so we're looking for that outside bar on the 4-hour chart now we're likely to see six bars within 24-hour period only because it's a 24-hour market 4x so other times of the day where these signals when we get an outside bar are they better to take them at certain periods of the day than others so are we better to take a trigger that's been triggered by an outside bar at 2:00 a.m. rather than taking one that was triggered at 1600 hours for example that's the first thing we're going to look at we're going to start that by looking at a start time so we can go from 0 through to midnight to see where's the best time for that time window to start this is the optimization report that I've done you can see we've got my start trade up here and we look we got from 0-100 that's one I am Who I am and so on all the way through to midnight the next day and straight away we can see that they're all terrible they're all negative nor these ones they're all negative apart the best ones probably from 1400 through to 1600 that's probably the best area however that's probably a little bit late in the day so for now let's just stick with 0 and we've already seen the equity curve the 0 because that's unchanged so the next thing obviously to look at is an end time so we know that we started to take a trader at 0 and is it best to end trades at 4:00 a.m. or 1 p.m. let's have a look that we can do an optimization on that too so here we're optimizing the end end time in from 0 through to 2400 they're all negative again but but I can see that the best one is probably from 1700 so we can take those let's have a look at that see how that works out you and looking at the performance report it's still awful it's a tiny bit better but still completely awful so at the moment things aren't looking too promising could it be the actual trigger itself could it be that I've got that 100 pip stop loss and take profit way out or could it be something else next time we'll continue the development and we'll actually look at those tape off it and stop-loss just to make sure that they're not completely wrong and it's throwing us off so that's for the next video please follow on and see let's see how this development actually pans out in the end click here