Here is a snapshot of AUDUSD (Australian Dollar) taken in February with three accurate TrendViper signals present on a Daily chart.
This screenshot was taken on the 26th of February 2020.
The three signals were generated on a Daily AUDUSD chart with the following settings: MA 5 and MA 21, ADX 20, and no filter of Upper time frame.
The most recent signal could have gained over 300 pips!
That’s the thing about following the trend on a Daily chart. The trends tend to be much bigger and can also generate bigger profits with less broker fees.
However, the trends on a Daily charts take longer to develop and complete.
This chart depicts a period of three months. This type of long term trend following is often used by swing traders and long term traders.
In the course of this time, and with the above settings, our no-repaint trend indicator generated three valid signals, and no false signals.
Although there is a slight pullback on two of the signals is very accurate and the price does not cross the main Moving Average.
With the right stop-loss position, allowing for pullbacks and giving the new trend a bit of room to test its new price levels, there should be no losses.