This is some kind of Genesis Matrix review, I’m going to explain you advantages and disadvantages of this system.
Best time frame and currency pair to trade with?
According to Genesis Matrix Trading creator the best time frames are: “M1, M5, M15. But can be used to HTF’s”. If you ask me M15 is the best time frame to trade with. I always advice traders to trade on their favorite time frame (familiar one), so if you are the most familiar with price action at M30, you will trade this system on M30.
Strategy indicators explanation
Since there is many indicators on chart you may be confused, if yo here is simple explanation of indicators.
Pivot Points – (S1,2,3 & R1,2,3 pivot levels) This indicator calculate three support and 3 resistance levels based on daily pivots. Remove this indicator from char if you don’t know how to trade pivots.
Moving Averages – (yellow MA) You can see yellow MA on chart, I really don’t like MA’s especially this one, because it’s useless on this system. Settings for this MA: Period 5, shift 2
Stochastic – (separated indicator at chart bottom) This stochastic is default one, nothing special, good old stochastic.
Genesis and Arrows (TVI, CCI, T3, GHL) – You can find genesis below main chart (white and red dots), this indicator is sum of for indicators. When all 4 indicators confirm bearish trend (all indicators are red -sell) or bullish trend (all indicators are white) you will get arrow as signal to enter trade.
How to trade with Genesis?
I remove all unnecessary indicators from chart, they are useless. Check system below:
This is pretty newbie friendly system.
Buy signal – after yellow arrow appears
Sell signal – after ping arrow appear
This is trend based strategy (trend is your friend), the problem is that every trend based strategy fail at sideways. My suggestion is to try find solution (avoid them) for sideway trends.
Few more tips
Check current market on char bellow:
Example 1 – On this example you can see that strategy have some kind of filter regards fail signals (arrows). In this case genesis indicators on bottom are red, which mean it should appear pink arrow to confirm signal, it’s not happen which is good since it was wrong signal.
Example 2 – After we get sell signal (pink arrow near example 2) all 4 indicators are agree for another sell signal (second vertical yelow line on chart), it should appear second sell signal at this point (second vertical line). You can use this kind of examples as extra confirmation (confidence) or you can open one more sell position.
Genesis indicators and template:
#MTF Stochastic v2.0.mq4
Genesis Matrix Credits: forexfactory.com
Don’t trade by rules above if you are not experienced trader, this is just for demo practicing!