Forex trading system “Blue-Red Strategy”
This easy-to-use system works on the principle of following the trend. Deals are opened at the level breakout points, which are determined on the basis of several indicators. All indicators are colored blue and red. That’s where the name of the strategy came from. Blue-Red” system is suitable for all currency pairs of Forex. The system shows the best results on hourly and four-hour timeframes. It can also be used on lower timeframes, but it is not recommended, because in this case the indicators are redrawn and the probability of false signals is higher. It is recommended to choose the time for opening deals during the main trading hours. The system is designed for the Metatrader terminal, so online forex charts are not suitable.
The system is based on three indicators on the main terminal chart, which determine the direction of the trend. The indicator “VQ_bars” colored candlesticks in blue and red, “2 FX Snipers Ma indicator” visually shows the direction of movement, and the indicator “NRTR_Rosh_v2eAlert-mtf” determines the levels to be broken and serves as a line for setting the stop loss. Auxiliary indicator “Magnified Market Price” is designed to better understand the current market price. The “#FS30_7” indicator with an arrow indicates the breakpoints, but it is not always correct. Indicators “Trade What You See”, “CCI_Histogramm”, “Advanced_ADX” and “fxfariz_scalpingM5” are located in the lower windows of the terminal and serve as filters of signals of the main indicators.
To open a position to buy, the main and filtering indicators must be blue. It is desirable, but it is not necessary that the blue arrow of the indicator “#FS30_7” appears. The main thing is for the price to rise above the blue line of the indicator “NRTR_Rosh_v2eAlert-mtf”. This line has a Stop Loss on it.
To open a sell position, the main and filtering indicators must be red. The red arrow on the “#FS30_7” indicator will be a plus, but it is not very important. The main thing is for the price to fall below the red line of the indicator “NRTR_Rosh_v2eAlert-mtf”. This line has a Stop Loss on it.
Positions are closed when the color of one of the indicators changes or at the trader’s discretion.
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