Trend Rider V3 Forex Trading System
This system is based on price action analysis and can be used for any currency pair, but it is preferable to work on the main pairs (majors). You can trade on timeframes from 5 minutes and above. The four-hour graphs also show good results. It all depends on the style of trading. You can use M5 and M15 for scalping and intraday trading, and H1 and H4 for medium term trading. The system provides very accurate input signals, but it is flexible enough. Each trader can customize it according to his or her preferences. Metatrader terminal is familiar to everyone who works at the Forex market in Kazakhstan, Russia, Ukraine and Belarus, it is practically a monopolist.
Trend Rider V3″ system does not have any main indicator. Decisions are made on the basis of all or most indicators. The main chart shows four moving averages of EMA 5, MA 8, EMA 50 and LWMA 85 (linearly weighted moving average). When crossing EMA 5 and MA 8, the “EMA Crossover” indicator signal appears in the form of red and blue arrows. The “Bar Trend” indicator shows the candlestick color depending on the direction of movement, and “Bollinger Bands” shows the limits of volatility. For the trader’s convenience, the main chart also contains information indicator readings. They show the strength of the trend in percent, support and resistance levels, candle time, the main indicators of the movement for the day and the time of various stock exchange centers. There are four more windows at the bottom of the terminal. The first indicator shows three indicators – “RSI Divergence”, “BBands_Stop_v1_BAR” and “Stohastic”. The following windows show the indicators “FLATTRAND_w_MACD” and “BBands_Stop” with different settings. All settings can be changed according to the trading style and trader’s preferences
Example of purchase on the chart H4. After the blue arrow and green candlesticks appear, wait for the bars of all the indicators below to turn blue and “RSI Divergence” to turn green. The “Stohastic” indicator level should be above zero. The stop is set at the lower limit of the Bollinger Bands.
There’s a five-minute sales schedule here. After the red arrow and purple candles appear, wait until the bars of all the indicators below turn red. The Stochastic lines must cross down. Stop at the upper limit of the Bollinger Bands.
The methods of profit taking through this system can be different. To do this, you can use the boundaries of the “Bollinger Bands”, support and resistance levels, change the indicators to the opposite or fix the takeprofit, taking into account the indicators of daily movement, which are on the chart.
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