eBook

A ForEx Trading Plan

Updated: 2018.10.23!

eBook is currently available on Smashwords

A trading plan is a business plan. When you start a business, you write a business plan. When you become a professional trader, you write a trading plan. This is a full-fledged trading plan, at 40 pages so far. This is like a pamphlet chock full of information. You will learn by reading it. This trading plan will likely save you dozens of hours by giving you a fully-fleshed-out trading plan.
You could call this a "sample trading plan" or an "example trading plan," but this trading plan is NOT: - a bare-bones template - a "how-to" article telling you how to write a trading plan - an article expounding on the virtues of having a trading plan.
This trading plan encompasses the detail you must think about before you will become a successful trader. Although you will probably not trade the same way I do, and you cannot expect to use this trading plan exactly as written, you will gain benefit from reading it. You will likely borrow the parts you need, and you can consider alternatives for what you don't need. This trading plan gives you a starting point. You will see sections on psychology, disaster recovery, tax status, and I will even tell you which broker I chose. While you still have to do the work, you don't have to re-invent the wheel.

MT5 NR7 and NR7IB Indicator

NR7 and NR7IB Indicator

Buy the Full 1.10 version from MQL5.com.

This indicator shows the narrowest bar within a range of the past seven bars, which is known as NR7 in the literature.
The range is variable; thus, you can show any range, e.g. NR3, NR5, NR11, etc. For the description of this indicator, I will continue to use the default of seven (7).
If an NR7 bar also happens to be an Inside Bar, it gives a stronger signal. Thus NR7IB are denoted in another color. Sometimes this is known as NR7ID (for Inside Day). I kept the description generic because you can use this indicator on any time frame.
As a bonus, I have added the ability to show the:
  • Highest bar (HI7)
  • Lowest bar (LO7)
  • Widest bar (WI7)
within the range N.
Does not repaint and works in the Tester.
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