• NeoMan
• Jul 13,2008
• In: Follow Trend

OzFx System

Have you ever visit ForexFactory.com? OzFx System is very popular at there in the first time until the author decided to had a private forum for this system. This OzFx system is running at Daily TF because the author believed that indicators recently gave false signal at this TF. And one more thing, this system is using running value of indicator, not fixed one. Usually we use previous candle to get fixed value but for this system, we use different style.

Indicators :

Bill Willam’s Accelerator Oscillator (AC)

Stochastic with setting 5,3,3 (STO)

So What Is The System?

Setup:

• Open up a daily chart.
• Apply Bill Willam’s Accelerator Oscillator (AC).
• Apply Stochastic with setting 5,3,3 on top of AC. Use the template if don’t know how to.
• Try and use demo MT4 from ODL securities. Every broker has different time when they start a new daily candle.
• ODL seems to have the time that works best. I only use their demo account for charts and place my trades on totally different broker.

Instruction

Buy Condition:

• Green AC above 0
• Stochastic above 0

Sell Condition:

• RED AC below 0
• Stochastic below 0

Exit: OppsiteBuy/Sell signal or as per Money Management.
Filter: Apply 200SMA. If price is below 200SMA then only take short trades. If Price is above 200SMA then only take long trades.

Money Management:

• Trade with 5 Lots with Stop Loss 100 pips away
• Take Profit on 1st Lot at 50 pips. Move Stop Loss to Break Even (BE).
• Take Profit on 2nd Lot at 100 pips.
• Take Profit on 3rd Lot at 150 pips.
• Take Profit on 4th Lot at 200 pips.
• Let the 5th Lot run until you see an opposite entry signal.