FX Extrema

CODINGTRADER .COM

FX Extrema Radar Manual

Version 1.00

Table of Contents

FX Extrema Radar ...................................................................................... 2

Installation .................................................................................................. 3

Configurations ........................................................................................... 10

How to use FX Extrema Radar ................................................................. 15

Disclaimer / Disclosure ............................................................................. 21

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FX Extrema Radar

FX Extrema Radar is an institutional quality yet user friendly FX signal application which helps you identify extreme price actions, alerting you on mean reversion trading opportunities for 25 currency pairs over 6 timeframes.

Mean Reversion Trading – Making use of a stochastic mathematical model, the program identifies temporary extreme high/low prices which tend to move back to their average price in a short period of time, giving you quick and high probability profit.

Extreme Price Extreme Results –Having created numerous trading systems over the years, our team at CodingTrader is astonished with the consistency and results of the system. Tested on multiple pairs over several years, the system have ZERO losing months and returns in excess of 200%/year. One of the lowest risk / highest return system which we have ever seen!

Major features include:

• Cutting edge Extreme Price Detection algorithm

• Adaptive System which evolves with different Market Conditions

• Trade Signals for Multiple Pairs/Timeframes

• User friendly Dashboard interface

No longer will you need to scan through all the charts searching for trading opportunities. FX Extrema Radar helps you identify all potential trades just by glancing at its dashboard interface.

Unlike our Radar series programs which make use of traditional trading systems such as trend following, trading breakouts or retracements that are obvious to traders, FX Extrema Radar uses an uncommon mean reversion strategy. The program hides the complexity of the system making the system idiot proof for you, the users!

In short, FX Extrema Radar is the ideal tool for retail traders who do not have the time to actively analyze the market.

To learn more about FX Extrema Radar/ other FX Radar series applications, please visit www.codingtrader.com . For technical support / enquiries, email our technical support team at support@codingtrader.com

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Installation

Download the exe installer (FX_Extrema_Radar.exe) from the website.

Double-click the file to start the installation process.

FIGURE 1 FX Extrema Radar Installer opened

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Click Next to display the Disclaimer.

FIGURE 2 FX Extrema Radar Disclaimer

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Click Next to display the License Agreement:

You must accept the License Agreement and click Next to continue.

FIGURE 3 FX Extrema Radar License Agreement

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Select the MetaTrader 4 installation that FX Extrema Radar should be installed into and click Next.

FIGURE 4 Choose MT4 Directory

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Confirm that the installation options are correct and click Start.

FIGURE 5 Confirm installation option

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Confirm that the installation options are correct and click Next.

FIGURE 6 Installation completed

The FX Extrema Radar program is automatically installed into your c:\program files\mt4 installation\ where ‘mt4 installation’ is your MetaTrader 4 broker installation folder.

That’s it. You have successfully installed FX Extrema Radar!

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After applying the template file FX_Extrema_radar, your MetaTrader 4 window should look like this.

FIGURE 7 Chart after applying FX_Extrema_radar template

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Configurations

If you do not wish to view all the pairs / timeframes provided in FX Extrema Radar, you have the option to turn them off.

Right-click on the chart and select Indicators List.

FIGURE 8 Chart Indicator List

Double click on FX_Extrema_Radar to open its configurations page.

FIGURE 9 FX Extrema Radar Configurations

Select false for the Pairs that you do not wish to view. Similarly for timeframes which you do not wish to view, select false to hide it.

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To simplify the usage of the program, there are only 2 variables for you to adjust (if needed. They are already preconfigured to a working value)

There is a PERIODS_CHECKED variable which defines the number of periods the program will check for determining its signal. A small value will trigger less signals as price will need to make a huge movement to be considered as significantly extreme the short period. A large value will causes more signals to be triggered. The optimal value to be used is from 20-40.

FIGURE 10 FX Extrema Radar Configurations – PERIODS_CHECKED

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There is a TOLERANCE variable which defines the sensitivity of the program. A low value will means that the program will not tolerate small price movement and will deem it as extreme, thus triggering more signals. A high value will means that more price movement is tolerated and lesser price movements will be considered as extreme, thus generating less signals. The optimal value to be used is from 1.5-3.5.

FIGURE 11 FX Extrema Radar Configurations – TOLERANCE

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To have Email or Pop-up Window alert, set alertSignalChange to true and set toAlertScreen (for Pop-up window) or toAlertEmail (Email) to true. The default values are false.

FIGURE 12 FX Extrema Radar Configurations – Alerts

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For Email alert to work, you will need to configure your MetaTrader 4 email options. From the MetaTrader 4 menu bar, go to Tools->Options and select the Email tab.

FIGURE 13 Email Option settings

Set SMTP server as your internet service provider’s SMTP server. (This can usually be found on your internet service provider’s website) Enter the login ID and password for your email account with that internet service provider. You may want to send the signals alert to another email. This is specified in the To field

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How to use FX Extrema Radar

Making use of a stochastic mathematical model, the program identifies temporary extreme high/low prices which tend to move back to their average price in a short period of time, giving you quick and high probability profit..

What are temporary Extreme high/low price and how should we trade them?

The chart below shows 5 extreme price points which are identified by the program. These are price levels where they have moved significantly away from their normal trading range (mean) and are very likely to trade back to their range.

FIGURE 14 Extreme Prices examples

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Now that you understand what an extreme price is, let us go through the components in the dashboard interface and what they meant.

FIGURE 15 FX Extrema Radar Dashboard interface

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The Timeframes are listed at the top horizontal row and the Pairs are listed in the left vertical column.

The symbols and boxes in the dashboard means:

- Buy (Local Extreme Low price detected)

- Sell (Local Extreme High price detected)

- No Signal (Price is not making new high/low. Do nothing.)

The rules for using FX Extrema Radar are simple - Buy when you see the BUY signal and sell when you see the SELL signal. That is all! The algorithm of the program had been tested vigorously and is meant to give you a high probability trade. Just follow it.

However NOT ALL TRADES WILL BE PROFITABLE. You have to set a stop loss when taking a trade. It is also highly recommended to set a fix take profit level.

* The signals generated by the program are not base on trends and are not meant to be taken as a trend reversal signals.

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Where to set Stop Losses?

Stop Loss: Set a stop loss at around 2 x length of an average candle. If there is a support/resistance zone, set it a few pips below/above it.

Take Profit: Set the take profit at 2 x length of an average candle. Alternatively, you can plot a moving average line on the chart. Close the trade when price touches the moving average line.

The chart below illustrates an example of where to set the stop loss and take profit levels.

FIGURE 16 Stop loss and Take profit levels

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Email Alert

In addition to watching the dashboard, FX Extrema Radar provides Email alert for the desktop version. The program will email you immediately when there are new signals. You will only need to monitor your mailbox to trade!

FIGURE 17 Email Alert

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Pop-up Window Alert

The pop-up window alert is similar to the Email alert. On new signals, the program will display a pop-up window on your screen. You can be working on other things and be alerted immediately when new signals arise.

FIGURE 18 Pop-up window Alert

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Disclaimer / Disclosure

Forex trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade forex, you should carefully consider your investment objectives, level of experience, and risk appetite. You must be aware of the risks of investing in forex and be willing to accept them in order to trade in these markets. Trading involves substantial risk of loss and is not suitable for all investors.

CodingTrader.com has taken measures to ensure the accuracy and timeliness of the information in the application, however, does not guarantee its accuracy and timeliness, and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information, inability to access the information, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this application.

This application is neither a solicitation nor an offer to buy or sell currencies. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.