The system “Forex Cans V1” is designed for short-term trading on the Forex market. However, it cannot be attributed to scalping systems. It uses swing trading techniques on M5, M15, M30 timeframes. The “Forex Cans V1” system is very profitable if you follow certain rules. For beginners, it may seem too complicated and advanced at first, but if you constantly practice with the system, it will turn out to be quite easy.
The “Forex Cans V1” system is preferred for intraday trading of major currency pairs (majors), i.e. EUR/USD, GBP/USD, AUD/USD, USD/JPY. You can also trade other pairs with a small spread, which can be provided by stp brokers. The best time to work is the European session and the beginning of the American one. The purpose of the system is to get profit from daily fluctuations of exchange rates, which can be 50-150 points for major currency pairs.
The “Forex Cans V1” system consists of ten technical indicators, but it is not necessary to focus on everyone for profitable trading. “Bbands Stop” is one of the main indicators of this system. You should only buy when the price is above the indicator and vice versa. On an uptrend the indicator is purple, on a downtrend it is red.
An interesting feature of the system is the indicator “Heiken_Ashi_kuskus2”, which colors candlesticks in blue and magenta colors, as well as draws red and blue bars. The colors of candlesticks and bars, the price position relative to the bars give signals to buy or sell. In addition to the indicators on the main chart, the lower windows of the terminal have filtering indicators “Stochastic”, “RSI” and “MACD”.
This screenshot shows an example of trading on price increases.
– The price should be higher than the Heiken Ashi bars.
– The “Bbands Stop” line should be lower than the price.
– The “RSI” indicator should be above level 50.
– The yellow line of the “Stochastic” oscillator should be higher than the white line.
– The “MACD” indicator histogram should be on the positive territory.
Stop-loss is set below the nearest minimum. The position is closed when the bars of the “Heiken Ashi” indicator cross the price downwards. This graph shows how the system works when the exchange rate decreases during daylight fluctuations. Although the price returned to the opening levels of the day, it has been declining by 70 points during this time
– The price should be below the red bars of Heiken Ashi.
– The “Bbands Stop” line should be higher than the price.
– The “RSI” indicator should be below level 50.
– The yellow line of the “Stochastic” oscillator should be lower than the white line.
– The “MACD” indicator histogram should be on the negative side.
Stop-loss is set above the nearest maximum. The position is closed when the bars of the “Heiken Ashi” indicator cross the price upwards.
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