Copy and paste the necessary files into the specific folder and open EUR/USD, GBP/USD or any other major pair that you want to trade. Set chart time frame to 4 hours (H4) and apply the template. You will see a chart like this:
Andrew Trading Strategy:
In order to open a long position:
1. Color of Nonlagdot changes from red to blue.
2. Dots of Nonlagdot should be above the Supertrend line
3. Supertrend line color has to be green.
Important: When all conditions are met, we will wait for a rebound. It is important that you notice that we are not opening the position right after all conditions are met!
A position should be opened by execution of a pending order. This order is placed on the upper point of the market extremum, which is formed after the first rebound.
In order to open a short position:
1. Color of Nonlagdot changes from blue to red.
2. Dots of Nonlagdot should be below the Supertrend line
3. Supertrend line color has to be red.
Important: When all conditions are met, we will wait for a rebound. It is important that you notice that we are not opening the position right after all conditions are met!
A position should be opened by execution of a pending order. The order is placed on the lower point of the market extremum, which is formed after the first rebound.
I am sure this example will help you understand what I am talking about:
In order to open a long position:
1. Color of Nonlagdot changes from red to blue.
2. Dots of Nonlagdot should be above the Supertrend line
3. Supertrend line color has to be green.
Important: When all conditions are met, we will wait for a rebound. It is important that you notice that we are not opening the position right after all conditions are met!
A position should be opened by execution of a pending order. This order is placed on the upper point of the market extremum, which is formed after the first rebound.
In order to open a short position:
1. Color of Nonlagdot changes from blue to red.
2. Dots of Nonlagdot should be below the Supertrend line
3. Supertrend line color has to be red.
Important: When all conditions are met, we will wait for a rebound. It is important that you notice that we are not opening the position right after all conditions are met!
A position should be opened by execution of a pending order. The order is placed on the lower point of the market extremum, which is formed after the first rebound.
I am sure this example will help you understand what I am talking about:
1: Color of Nonlagdot changed from red to blue.
2: Dots of Nonlagdot should be above the Supertrend line and Supertrend line color changed to green. After this point we are going to wait for a retracement.
3: Retracement starts, we see a candle which its closing price is lower than the opening price. We place a pending buy order to that level.
4: Retracement ends, the price goes higher and our pending buy order is executed. Now we are in to ride the wave.
Now have a look at the other circles (5-6-7-8) and see when we are going to sell
5: Color of Nonlagdot changed from blue to red.
6: Dots of Nonlagdot should be below the Supertrend line and Supertrend line color changed to red. After this point we are going to wait for a retracement.
7: Retracement starts, we see a candle which its closing price is higher than the opening price. We place a pending sell order to that level.
8: Retracement ends, the price goes lower and our pending sell order is filled. Now we are in to make some profit.
2: Dots of Nonlagdot should be above the Supertrend line and Supertrend line color changed to green. After this point we are going to wait for a retracement.
3: Retracement starts, we see a candle which its closing price is lower than the opening price. We place a pending buy order to that level.
4: Retracement ends, the price goes higher and our pending buy order is executed. Now we are in to ride the wave.
Now have a look at the other circles (5-6-7-8) and see when we are going to sell
5: Color of Nonlagdot changed from blue to red.
6: Dots of Nonlagdot should be below the Supertrend line and Supertrend line color changed to red. After this point we are going to wait for a retracement.
7: Retracement starts, we see a candle which its closing price is higher than the opening price. We place a pending sell order to that level.
8: Retracement ends, the price goes lower and our pending sell order is filled. Now we are in to make some profit.