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Some may close half their trade after a certain amount of pips and then let the profits ride, others may want a fixed TP. I am not going to enforce any one ideology. Then you don't need to fiddle with the offset. So I'd suggest using a demo account at FXDD, as they are on the correct timezone then you can place the actual trades on your live broker of course, but I'd suggest demoing with this for a while to get a feel for it.
This helps ensure your platform doesn't slow down, as the indicator can be fairly intensive. After you've installed the indicator, take the attached template TPL file below, and apply it in Metatrader. If they are a thickness of 1, then they're barely visible. Because of the accurate nature of the system, then you're not going to get many trades. Generally speaking, there's on average at least 1 signal per day. Whilst that may not seem like a lot, the advantage of this system is that the signals are pretty powerful.
Some days you may get multiple signals, other days you might not get any. Patience is key. The indicator supports alerts, so you can ramp up your speakers if you're not sitting at the computer. I'll post some trade example later on. Any updates, I will make mention of here, on this opening post. This works on Windows XP, Vista, 7 and 8. The first came during the early hours. It took a bit of time to get going, but when it did, man did it go down.
As for the Stop Loss, then I would have placed it where I've drawn the far left white horizontal line. This was an obvious place to put your stop. The next trade's SL location was a bit more discretionary. You could have put it as Concerning the later third signal that appeared a short time before the close of the week, well, that's something I wouldn't have recommended to enter, purely because of the lack of activity during late Fridays even if a few small pips profit would have been possible.
As you can see, the buy signal didn't even get off the ground, this very rarely happens. However the sell signal soon rectified that. Third signal from yesterday. Nice trade. The stop loss on this would have been obvious. Just place 1 pip below the swing low, which I've circled in white.