Best Blackhat Forum

So I found this indicator a couple of years ago but never gave it a try...

See how it works here:


This is an older version of this indicator... PZ Trading is now up to version 6.5 but I don't have that version. I've been playing with it for about a month now on a demo account and am actually pretty impressed with it.

I'm currently IN my very first real money trade with it after having succeeded quite often with it in my demo account. I'm currently in EURUSD on the 4 Hour chart:


As you can see, I'm using it along with three moving averages...

1) 9 EMA applied to the CLOSE (Red)
2) 21 EMA applied to the CLOSE (LimeGreen)
3) 55 EMA applied to the CLOSE (Gold)

As you can also see... I got in a little LATE but so far? It's doing extremely well. I'm also using the three EMAs for TREND confirmation along with the MTF Alligator (upper right hand corner).

Unless something goes crazy over the weekend, I see no reason why I can't hit my Take Profit sometime next week.

I'm still using Heiken Ashi candles with the Doji Spotter with this indicator. I should also point out that I played with dozens of SETTINGS while I used this in my demo account.

These are the following settings I'm using IF you're interested:

Verbose: true
MinRange: 10
MaxRange: 30
HighLowFilter: 10
MaxHistoryBars: 10000
AnalysisEnabled: true
DisplayProfits: true
AnalysisColor: Gold
AnalysisLable: Gold
BullRectangle: DodgerBlue
BearRectangle: Magenta
DisplayAlerts: true
EmailAlerts: false
SoundAlerts: true

As I've said before... Do NOT trade using this indicator with REAL money until you've gotten completely used to it. You may even want to tweak YOUR own settings. Give it 90 days of demo trading at least before you attempt to rely on it and IF and WHEN you do? Trade with micro lots to start out with.

Download:


Please make note... This indicator gets you into a trade but there is no exit strategy. There was no scanner that came with it either as per the YT video above. The way I've been trading with it in my demo and this one live trade is to plot a Stop Loss line at the previous swing low, then measure the distance from the swing low to where I entered the trade, then multiply that PIP distance by 1.5 to plot my Take Profit Line/Exit.

There were no instructions with this indicator so I'm just kind of winging it after having traded with it on a demo account for quite awhile.

*NOTE: As the EDITED title of the post says... I am now updating this to PZ Day Trading 6.0 WITH SCANNER!

As hard as I tried... Could NOT find the latest 6.5 version BUT I have gone ahead and tested this out and it's working FINE.

PZ Day Trading 6.0 Download:

Good luck!

jack

nice share (again), will give it a try and backtest this weekend

By the way... I did HIT my Take Profit. This indicator is working well for me on the 4 Hour chart.

(04-30-2021 05:35 AM)jackpinion Wrote: [ -> ]By the way... I did HIT my Take Profit. This indicator is working well for me on the 4 Hour chart.

Great jack ;)

Here more information about pz day trader:

https://www.pointzero-trading.com/Produc...DayTrading

Anyone can share the newest version?

(04-30-2021 02:15 PM)J_128 Wrote: [ -> ]

(04-30-2021 05:35 AM)jackpinion Wrote: [ -> ]By the way... I did HIT my Take Profit. This indicator is working well for me on the 4 Hour chart.

Great jack ;)

Here more information about pz day trader:

https://www.pointzero-trading.com/Produc...DayTrading

I've been to that page more than a few times... However, this is a newer version of the same indicator. Having said that... I'm in my 4th trade with it so far and it's looking very good and the last three I've hit my take profit line with no problems.

As I pointed out... This indicator/system -- whatever you want to call it -- has no exit strategy. Just tells you when to enter. So you'll have to come up with a way to exit that you feel comfortable with.

But the indicator overall is working well... Today, I entered my first trade with it on the Daily Chart. I've been using the 4 Hour chart and it's worked very well.

Good luck!

jack

So... No sooner did I write the above reply than I went back to check the Daily Chart I decided to trade on (AUDCAD) and the trade was in profit over $1,000 so even though I hadn't hit my take profit? It is Friday and there's nothing wrong with making a grand before the weekend so I went ahead and closed it.

Now I can relax until Sunday. LOL.

(05-01-2021 04:52 AM)jackpinion Wrote: [ -> ]So... No sooner did I write the above reply than I went back to check the Daily Chart I decided to trade on (AUDCAD) and the trade was in profit over $1,000 so even though I hadn't hit my take profit? It is Friday and there's nothing wrong with making a grand before the weekend so I went ahead and closed it.

Now I can relax until Sunday. LOL.

:O Excellent profit friend ... I hope one day to win like you, for now I am backtesting with Soft4x Simulation of this indicator and the Heiken Ashi candles ...

H4 and D1 move many pips, the problem in my case is the Stop loss (30 to 50 pips) because it takes considerable money to maintain it ... However, H4 and D1 avoid the stress of seeing the chart all the time.

Thanks for all my friend ...

Greetings.

Thanks OP, will give it a backtest as well, + repped you.

I hear you loud and clear... Keep backtesting! And then when you THINK you're ready? Test it out on a demo account for at least 90 days. Longer if you're not trading every day. Then? When you feel you might be ready? Trade micro lots first.

What you're saying about the 4 hour and Daily charts are TRUE. The retracements alone can KILL you and hit your stop loss. Most people do NOT understand this. Their stop losses are why they cannot profit because they just can't withstand the retracements.

To see just how bad retracements can be on ANY time chart? Just disable "Chart shift" and "Chart autoscroll" under properties. Then take your crosshair tool and start measuring all the retracements. See how many pips they average.

Until I did that many years ago? I really had no idea how bad retracements could hurt me.

By trading micro lots, you should be able to withstand retracements on both the 4 hour and Daily charts and still make some decent money. I have in the past... When I was trading micro lots, I was always in several trades a week and winning most of those trades with an average of $20 all the way up to $100 after just a few days of being in the trade.

Good luck!