Creating New Templates
On this page we will show how to combine several optimized indicators into one of our top four or five favorite Metatrader Templates. We do this by selecting several of our YouTube videos and using them to create an FxFortuneHunter video slider. Rather than dealing with YouTube playlists, you can now easily watch the series in order here, as it builds from simple candlesticks to a tradable system.
In each series, we will start with the basic indicators, add additional components to build the template — and finally teach you how best to incorporate the template into your trading.
Each of the templates is designed to define clear stop loss levels as well as entry points and profit targets. This builds confidence that your risk (including spread) is minimized compared to your reward.
In our own trading, we use three or four templates. Each has a different visual look and feel… but all are based upon the same trading principles. Therefore, you can choose one as your own favorite — or simply switch from one to another (as we do) to compare points of entry and places to put your stop loss as the market develops each week.
We have begun here with our Trend Magic/Double Whammy template. Over the next days and weeks, we will add these:
Super GMMA
3 Events
Super Gmma is the template that comes from our work on the Amazing Zeelander Flytrap Forex Trading Strategy. For those of you who have read this Amazon Kindle book, the template includes the Zeelander signal line. We have NOT forgotten that strategy… just got distracted telling you about Trend Magic!
Our next project will be to update the videos on YouTube associated with the Zeelander illustrations. There are two playlists on our channel about Zeelander now. Once we have completed the new videos, we will build our Super GMMA template and add the second slider to FxFortuneHunter.com. Then we can compare how the two templates present their Forex trends information. I’m excited to get started.
I hope you profit from these video sliders. Please comment, ask questions and/or offer suggestions about how others might be able to use them in their trading!
Now… Fortune Hunters, let’s get some pips!
Trend Magic
A couple of years ago, the folks who developed the Metatrader software platform introduced an indicator called Trend Magic. We received many questions about its use — and our YouTube videos on the topic logged hundreds of views.
In this website slider, we will reintroduce Trend Magic, combine it with another of our popular indicators — the Chandelier Stop — and create a template we call Double Whammy.
A third video here adds our custom version of the Itchimoku cloud to our template. Itchimoku is very powerful and was developed in Japan more than a hundred years ago by traders in the rice market. We use it here for additional visual confirmation of the current price trend.
Finally, we will offer additional videos to our website slider that show how we trade Double Whammy across multiple timeframes.
Super GMMA
My trading strategies have always been anchored with “multiple moving averages.” GMMA is short hand for Guppy MMA. Daryl Guppy is an Australian technical analyst who first publicized the ideas. We call our primary Metatrader template by that name — and come up with other creative and curious titles for ones we have changed slightly or optimized. One example of that is “Simply Spooky.”
We will get into all the variations in due course. But let’s begin with a simple example. (You will see it built from scratch in the first video for this second template).
There are two reasons for monitoring multiple moving averages.
1. Identifying important changes in price trend.
2. Once a trend is in motion, identifying pullbacks that give the most profit potential for the least amount of risk.
Let’s take a look at two or three videos to see how the GMMA template is created.
3 Events
3 Events is another powerful template that I created and had programmed as a custom indicator five years ago. It combines the chandelier and multiple moving averages.
The concept is quite simple. Once 3 events have occurred, a Buy or Sell Zone is created. Then you wait for a pullback to enter.
The sequence doesn’t matter — but all steps need to have taken place. Let’s outline the events that need to happen to create a buy zone.
1. The chandelier switches from red to white. This indicates support rather than resistance.
2. The 12 EMA crosses up through the 24 EMA. If my crossover indicator is on the screen, a white medallion is printed under the candle that made the cross.
3. As a final confirmation, the 12 EMA then crosses over the 47 EMA.
Once the buy zone is created — we wait for a pullback — a reversion to the mean. If the pullback is too severe or is the distance back to the chandelier stop loss level is too great… we skip the trade.
Check out the video to see how this works.
