Greetings to dear readers of forex magazine ForTrader.org. Today I would like to consider the trending strategy of the Gold Vein System. A trading strategy got its name because of an indicator called Gold Vein. After searching for information about the Gold Vein trading system in search engines, I came to the conclusion that this system is unique and has not yet been understood by anyone in the Russian-language segment, so let’s proceed to its analysis.
Input parameters
- Currency pairs: any
- Timeframe: M15 — H1
- Trading time: round the clock
- Type of strategy: trending, indicator
Setting a Gold Vein Trading Strategy
Gold Vein trading strategy is set in a standard way. If you did everything correctly, the desktop of your terminal should look something like this:
Indicators Used
The Gold Vein trading strategy includes five indicators and one informer in the left corner. Briefly for each:
Easy forex system — the indicator has the form of two blue and yellow lines with parameters 35.55 and 65. The indicator is trendy and acts as a trend filter.
Pivot — this indicator displays pivot levels, looks like dashed lines (levels) on the chart. The strategy can be used as a filter, as well as for setting stop loss and take profit.
Repaint True — the indicator is in the first additional window in the form of a histogram of red and blue. The indicator is an analogy of the Fisher indicator with a period of 21 and 13 (located in the second additional window).
smFiser transform 3 — the indicator is in the third additional window in the form of a green and red histogram. It is a modification of the Fisher indicator. By default, parameter 8 is used in the strategy. Acts as a filter.
GoldVein — the indicator is in the fourth additional window in the form of a histogram of red and green. The indicator is trend, acts as a filter. The default setting is 50.
Analyzing the composition of the trading system, that is, its indicators, the possibility of their optimization is visible, which is a significant advantage when working with such systems.
Gold Vein Trading Strategy Signals for a Buy
We enter the purchase subject to a number of conditions:
- The price is above the yellow line of the Easy forex system indicator.
- Column of the histogram of the Repaint True indicator with a period of 21 green.
- The bar graph of the Repaint True indicator with a period of 13 green.
- The bar graph of the smFiser transform 3 indicator is green.
- GoldVein indicator bar graph is green.
Gold Vein Trading Strategy Signals for Sale
We enter the sale subject to a number of conditions:
- The price is under the yellow line of the Easy forex system indicator.
- Column of the histogram of the Repaint True indicator with a period of 21 red.
- Column of the histogram of the Repaint True indicator with a period of 13 red.
- The histogram bar of the smFiser transform 3 indicator is red.
- The bar graph of the GoldVein indicator is red.
Money management
Money management is an integral part of the Gold Vein trading strategy, like any other forex strategy. The risk per position should not exceed three percent of the deposit.
Personal opinion
Usually in each article I praise trading strategies and their authors. But in this case, I have a very big question for this heap of phishers (or their modifications). All three additional windows are nothing more than a graphically modified Fisher indicator. Personally, I would remove half or replace them with other indicators. Also, practically all redrawing indicators are not happy, although this is treated by entering through a closed bar. Honestly, the Gold Vein strategy is raw and needs to be developed for itself. Of the pluses is the ability to optimize all indicator parameters for your trading style. The trading strategy of Gold Vein is quite simple, it has clearly defined entry and exit points, as well as the rules for setting stop loss. I can recommend it to both beginners and pros.