Newcomers to the forex market often experiment with new techniques and methods to generate profits a
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Foreign exchange trading is one method to make big as well as steady earnings in a reasonably brief
Without volatility, trading in financial markets would be impossible. You can make a profit ONLY by moving the price. The ERXGen (Early Riser Next Generation) system is a short-term trading technique based on the fact that at certain points in time during the trading day, volatility increases. ERXGen is based on the very popular London Open Breakout strategy with the addition of rules that increase the stability and efficiency of the product.
The price behavior during the Tokyo trading session is used to determine the entry conditions. Buy and sell transactions are made mainly during the London trading session.
Three key elements of the strategy:
- Intraday trend analysis
- Using the price gap between the maximum and minimum prices during the Tokyo session (Tight Tokyo Range)
- The price action during the Tokyo session should be observed in the upper or lower part of the previous daily range (Location of the Tokyo Range)
- Enter GMT Correction Hours – the time difference (in hours) between MT4 and Greenwich Mean Time (GMT).
- Enter Number of Tokyo Hours to monitor – the number of hours of the Tokyo session to monitor the price. Usually equal to six.
- HeadingColour – the color of the table headers (see screenshots).
- ShowLOB images (if TRUE, the chart shows price actions for the previous three days, in addition to the current ones. They are shown in rectangles of different colors depending on the direction of the price on each of the days (up/down). The price behavior for the current day is displayed as two sets of lines. The red line shows the minimum price during the Tokyo session, and the green line shows the maximum. Objects are displayed only on the periods M15 and H1).
- ShowSignalMatrix – when TRUE, three key rules for 12 currency pairs are displayed. The dicks and crosses indicate whether the rules are met or not. This is the unique advantage of ERXGen Filter. It significantly reduces the time for analyzing the graph. The entire analysis can be completed in less than a minute, while analyzing each pair individually would take hours.
- ShowComments – if TRUE, the chart displays data that can be used as confirmation before making transactions: the current version of the indicator, the day of the week, the maximum/minimum price in the Tokyo session, the actual time (GMT) and the correction used in hours, etc.
For more information, refer to the screenshots and videos.
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