X50 strategy is designed for intraday trading. On the price chart of the currency pair there are three basement indicators, displaying the values of both current and older timeframesThe trader makes a decision to enter the market without switching between screens.
- Currency pairs: basic
- Timeframe: М15
- Bidding time: on the day
- Type of strategy: intraday, indicator
- AbsoluteStrength_v1.1july 30...1
- Stochastic (two indicators with different parameters)
Market entry rules for the X50 strategy
The market entry signals for the X50 strategy are determined based on the readings of three indicators.
Absolute Strength indicator:
- If the blue line is above the red line - we consider buying positions.
- If the red line is above the blue line - consider a sell position
- The blue line is above the green line - consider a buy position.
- The green line is above the blue line - consider a sell position.
MACD H4 indicator (indicates the direction of the trend on the high timeframe):
- The indicator histogram is above the zero line - consider a buy position.
- The histogram is below the zero line - consider a sell position.
Setting Stop Loss and Take Profit Orders
Stop Loss it is recommended to set according to the classical rules - behind the previous price extremums.
Take Profit is set at the nearest level automatically marked by the Pivot indicator. As an additional tool for setting take profit, you can use Fibonacci levels.
According to ForTrader.org experts, the advantage of the X50 strategy is the clear classical approach to the analysis of the technical picture of the market. The disadvantage of the strategy is the lack of clear entry points into the market, which may cause difficulties for beginner traders.