Trending trading strategy Gold Vein System

Greetings dear readers of ForTrader.org magazine. Today I would like to review Gold Vein System trending strategy. The trading strategy got such a name because of the indicator called Gold Vein. Searching for information about the trading system Gold Vein in search engines, I came to the conclusion that this system is unique and has not yet been analyzed by anyone in the Russian-speaking segment, so let's proceed with its analysis.

Input parameters

• Currency pairs: any
• Timeframe: M15 - H1
• Trading hours: 24 hours a day
• Type of strategy: trending, indicator

Installing the Gold Vein trading strategy

The Gold Vein trading strategy is installed in a standard way. If you did everything correctly, the desktop of your terminal should look like this:

Used indicators

The Gold Vein trading strategy includes five indicators and one informer in the left corner. Briefly on each:

• Easy forex system - the indicator has the form of two lines of blue and yellow color with parameters 35, 55 and 65. The indicator is a trend indicator and performs the function of a filter trend.
• Pivot - this indicator displays pivot levels, it has a form of dotted lines (levels) on the chart. It can be used as a filter in the strategy, as well as for setting stop-loss and Take Profit.
• Repaint True - the indicator is in the first additional window as a red and blue histogram. The indicator is an analogy of the Fisher indicator with a period of 21 and 13 (located in the second additional window).
• smFiser transform 3 - the indicator is located in the third additional window in the form of a green and red histogram. It is a modification of the Fisher indicator. By default, the strategy uses parameter 8. Performs the function of the filter.
• GoldVein - the indicator is located in the fourth additional window in the form of a red and green histogram. The indicator is a trend indicator, it acts as a filter. The default parameter is 50 .

Analyzing the composition of the trading system, that is, its indicators, you can see the possibility of optimizing them, which is a significant advantage when working with this kind of systems.

Gold Vein trading strategy buy signals

• We enter the purchase if a number of these conditions are met:
• The price is above the yellow line indicator Easy forex system .
• The histogram bar of the Repaint True indicator with a period of 21 is green.
• The histogram bar of the Repaint True indicator with a period of 13 is green.
• The bar graph of the smFiser transform 3 indicator is green.
• The bar graph of the GoldVein indicator is green.

Gold Vein trading strategy signals to sell

• We enter the sale if a number of these conditions are met:
• The price is under the yellow line indicator Easy forex system .
• The bar of the histogram of the Repaint True indicator with a period of 21 is red.
• The histogram bar of the Repaint True indicator with period 13 is red.
• The bar graph of the histogram of the smFiser transform 3 indicator is red.
• The bar graph of the GoldVein indicator is red.

I would like to note that the indicators are re-drawing, so enter only on the closed bar.

Stop loss setting, exit from position

In the Gold Vein trading strategy, there are two ways of setting a stop loss:

• The first, which is also a classic - at local minimums and maximums, important levels.
• The second, recommended by the author of the strategy is to put stop loss at the level of 5 pips above the yellow line of the Easy forex system indicator in the case of sale, and at the level of 5 pips under the yellow line of the Easy forex system indicator in the case of purchase.

The author recommends exiting the position when the opposite signal of the Repaint True indicator appears with a period of 21.

You can also exit and put a stop loss on the levels.

Money Management

Money Management is an integral part of the Gold Vein trading strategy, as well as any other strategy. The risk per position should not exceed three percent of the deposit.

Personal opinion

I usually praise trading strategies and their authors in every article. But in this case, I have a very big issue with this bunch of Fisher (or their modifications). All three additional windows are nothing more than graphically modified Fisher indicators. Personally, I would remove half of them or replace them with other indicators. Also not happy with virtually all of the redrawing indicators, although it is treated by entering on a closed bar. To be honest, Gold Vein strategy is crude and requires some fine tuning. From the pluses - the ability to optimize all indicator parameters to your trading style. Gold Vein trading strategy It is quite simple and has clearly marked entry and exit points, as well as the rules for setting a stop loss. I can recommend it for beginners and pros alike.

Good luck with the trend, gentlemen, and don't forget to share your impressions in the comments.

Download template and indicators

Other Trend Trading Strategies