Forex Signal - indicator strategy
Forex Signal - it's an indicator trading strategy based mainly on the readings of the signal indicator. The beauty of this strategy is that it gives clear signals not only to open an order, but also to close it, which means it thinks through all the hard stuff. Any currency pairs can be used in trading. It is desirable to choose the medium-term timeframes: from M30 to H4. Three indicators are used: Stochastic, Signal 2, Forexsignal 30.
Rules of opening trades according to Forex Signal strategy
To open sell orders The following conditions must be met:
1. The price must be near the upper boundary of the price channel (it is drawn automatically), this rule can be neglected, but the risk of closing a position by a stop loss increases significantly.
2. A big red arrow pointing down appeared on the chart.
The Stochastic indicator is above the 80 level (overbought zone).
4. A spike appears on the Forexsignal 30 extreme indicator pointing upwards.
To open purchase orders it is necessary to fulfill the opposite conditions:
1. The price should be at the lower boundary of the price channel.
2. A large blue arrow pointing upwards appeared on the chart.
The Stochastic indicator is below level 20 (oversold zone).
4. The Forexsignal 30 extreme indicator shows a spike pointing downward.
Closing previously opened orders We perform this operation when a blue cross appears above the price chart with an open buy position, or when a red cross appears below the chart with an open sell order.
Safety stop loss put on 30-80 points (depending on the time interval at which you trade) above or below the nearest local extremum.
Thank you. Interesting strategy. Can you tell me the Period, Deceleration and other characteristics to set the Stochastic.
And one more question. There are several different versions of Signal 2 and Forexignal 30 in the archive. I guess they are just modified versions (Forexignal30.4.ex4, Signal2.4.ex4)?
Thank you!
Usually strategies tell you which parameters you need to change. If they don't say anything about it, then it's not necessary. And in general, it is best to choose parameters separately for each currency pair, because they work differently.
beautiful on the PICTURE ...in reality a TRANSLATION !!!!