Forex Secret Protocol trend strategy ver. 2 (part 1)
The next version of the trending strategy Forex Secret Protocol. The strategy is now simpler and, at the same time, more diverse, providing the opportunity to enter the market with different degrees of risk.
Trading strategy settings
- Currency pairs: any.
- Timeframe: any.
- Bidding time: any.
- Risk Management: After calculating the stop-loss, choose such a volume of the lot that the risk was no more than 2-5% of the deposit per trade.
Installing the indicators and the Forex Secret Protocol strategy template ver. 2
- Unpack the archive with templates and indicators.
- Copy the indicators to the folder MQL4 -> indicators.
- Copy the templates into the templates folder.
- Restart the terminal.
- Open the chart of the desired currency pair.
- Install the template with the name FSP v.2.
The schedule should look like this:
Used indicators
FSP Range & Spread
The indicator shows the current size of the currency pair range. If the volatility is sufficient, you can look for opportunities to enter the trade. The indicator also shows spread on the currency pair and the time that remains until the end of the formation of the current candle.
FSP Short Trend
The indicator is used to determine the direction of short-term trend (calculations are based on the TrendSentry indicator).
FSP Conservative Trend
The indicator is calculated on the basis of three basic indicators: TrendSentry, TrendEnforcer and Trendanator in order to determine the safest areas for trading with a pronounced trend direction. That's why the indicator is called Conservative Trend.
FSP HTF Trend
The indicator shows the direction of the long-term trend. Now there is no need to switch to the Senior timeframe.
FSP Fast Trend
Shows the color of the Trendanator indicator on the high timeframe, which is used to confirm entry points in ultra-aggressive trades.
FSP Ultra Conservative Entry
The indicator is used to find the safest entry points (ultra conservative entry points).
FSP Conservative Entry
The indicator is used to find conservative entry points (slightly more risky than ultra conservative).
FSP Medium Aggressive Entry
The indicator is used to find the average aggressive deals.
FSP Aggressive Entry
The indicator is used to search for aggressive transactions.
FSP Ultra Aggressive Entry
The indicator is used to search for ultra-aggressive deals.
FSP Fast Entry
The calculation of the entry point is based on the TrendSentry and Trendanator indicators.
Work schemes for the Forex Secret Protocol strategy ver. 2
You can trade using the FSP HTF Trend indicator to determine the direction of the long-term trend in combination with the FSP Conservative Entry or FSP Medium Aggressive Entry indicator. When working with the FSP Aggressive Entry indicator, we do not need to look for confirmation on higher timeframes. When working with the FSP Ultra Aggressive Entry indicator, the FSP Fast Trend indicator is used. In addition, before opening ultra aggressive trades, it is necessary to wait for a strong movement in the direction opposite to that of the trade opening.
Conservative and medium aggressive buy entries
- The FSP HTF Trend indicator is colored blue, indicating an uptrend.
- One of the indicators (FSP Conservative Entry or FSP Medium Aggressive Entry) has formed one blue bar. The next bar should also be blue.
- A stop loss is placed under the nearest significant minimum.
- Take Profit is set equal to Stop Loss or calculated depending on volatility of the current currency pair.
Example:
Conservative and medium aggressive sell entries
- The FSP HTF Trend indicator is colored red, indicating a downtrend.
- One of the indicators (FSP Conservative Entry or FSP Medium Aggressive Entry) has formed one red bar. The next bar should also be red.
- Stop Loss is put under the nearest significant maximum.
- Take Profit is set equal to Stop Loss or calculated depending on the volatility of the current currency pair.
Example:
Aggressive buy entries
- One blue bar has formed on the FSP Aggressive Entry indicator. The next bar should also be blue.
- Stop Loss and Take Profit are set as specified in the rules for conservative and medium aggressive trades.
Aggressive Sell Entries
- One red bar has formed on the FSP Aggressive Entry indicator. The next bar should also be red.
- Stop Loss and Take Profit are set as specified in the rules for conservative and medium aggressive trades.
Example:
